MIRA
INFORM REPORT
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Report Date : |
09.06.2007 |
IDENTIFICATION DETAILS
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Name : |
TAIWAN VETERANS PHARMACEUTICAL CO LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
December 21, 2005 |
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Com. Reg. No.: |
28059706 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and development of medicines and pharmaceutical products. Manufacturing and importing a wide range of chemical raw materials for
production of western pharmaceuticals Sales and distribution to local market. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Up To US$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
TAIWAN VETERANS PHARMACEUTICAL CO LTD
TEL : 886-3-4651190
FAX : 886-3-4657381
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 21, 2005
REGISTRATION NO. :
28059706
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. CHANG-CHI KO (CHAIRMAN)
STAFF STRENGTH :
75
CAPITAL :
US$ 9,635,652
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.0260 = US$1 AS OF 2007-6-8
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
*Company Registration*
===================
(1)
License number : 28059706
Date issued : 21
December, 2005
Issuing authority : Ministry of
Economic Affairs (MOEA)
(2)
License number : 99623302
Date issued : 29 August,
1983
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory License
*Office & Facilities*
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Size : 12,591
sq. meters (Approx.)
Location : Taoyuan
Hsien
Property status : Owned by
TAIWAN VETERANS PHARMACEUTICAL CO LTD
Type of building : Industrial
district
Comment : Serves as
office and factory.
Other tel nos. : 3-4651191 /
4565153 / 4564803 / 4163730 / 4667207 / 4375528 / 4373507 / 4381912
*Corporate & Organization Structure*
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A medium sized company mainly operated and managed by an experienced
team of professionals.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name
No.
of Shares
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The Vocational Assistance Commission for Retired Servicemen 12,280,000
YUNG YEOU TRADING CO LTD
1,920,000
Note : Mr. Chang-chi Ko owns TAIWAN BIOTECH CO LTD, while The Vocational
Assistance Commission for Retired Servicemen is owned by the Government of
Taiwan.
*COMPANY MANAGEMENT*
===========================
Name Nationality Job Description
Mr. Chang-chi Ko Taiwanese
General Manager
*Key Personnel*
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Mr. Chang-chi Ko
Founder : Co-founder
Resident status :
Work experience : More than 20
years
Responsibilities : Handles the
daily operation of the firm including all financial, sales and legal matters.
Other position : Chairman,
TAIWAN BIOTECH CO LTD
*Main Products & Services*
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Specializes in the following three (3) areas of work :
1. Research and development of medicines and pharmaceutical products.
2. Manufacturing and importing a wide range of chemical raw materials
for production of western pharmaceuticals
3. Sales and distribution to local market.
Products also include the following :
- Prednisolone tablets "VPP"
- Hydrochlorothiazide tablets "VPP"
- Acetazolamide tablets 250mg "VPP"
- Meprobamate tablets 200mg "VPP"
- Isoniazid tablets "VPP"
- Chlorpromazine hcl
- Streptomycin suleate for injection 1g "VPP"
- Riboflavin tablets "R.S.P.P."
- Chlorpheniramine maleate tablets "VPP"
- Ascorbic acid tablets "VPP"
- Ephedrine sulfate capsules "VPP"
- Aminophylline injection "VPP"
- Combigel tablets "VPP"
- Reserpine injection 2.5mg/ml "VPP"
- Nitrofurantoin tablets 100mg "RSPP"
- Potassium penicillin g for injection buffered 1,000,000 units
"VP"
- Menadione sodium bisulfite injection 10mg/ml "VPP"
- Aminophylline tablets 200mg "VPP"
- Water for injection "RSPP"
- Cyanocobalamin injection "RSPP"
- Digitoxin tablets "RSPP"
- Bismuth subcarbonate tablets 324mg "VPP"
- Thiamine hcl tablets "VPP"
- Nicotinic acid tablets "VPP"
- Nicotinamide tablets "VPP"
- Sulfisoxazole tablets "VPP"
- Triasyn b
- Reserpine tablets "VPP"
- Sulfisomezole tablets "RSPP"
- Vitamin B complex injection "VPP"
- Tricillin injection "VPP"
- Procaine penicillin g for aqua injection 1,500,000 units "VPP
- Procaine penicillin g for aqua injection 300,000 units "VPP"
- Secobarbital sodium capsules "VPP"
- Chlordiazepoxide hcl capsules 10mg "VPP"
- Sodium chloride tablets 2.25mg "VPP"
- Sodium phenobarbital injection 100mg/ml "VPP"
- Diphenhydramine hydrochloride injection 10mg/ml "VPP"
- Aspirin tablets "VPP"
- Geri-vita tablets "VPP"
- Phenobarbital tablets 32mg "VPP"
- Chlorpromazine hcl sc. tablets 50mg "VPP"
Products : Erythromycin
Acetazolamide
Aminophylline
Antibiotics
Ascorbic
acids
*Payment Terms*
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Sales
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Local : 30-90 days credit
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Open Account (D/A)
with settlement using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- BRISTOL-MYERS SQUIBB (
- ELI LILLY & CO (
- GLAXOSMITHKLINE FAR
- WEIDAR CHEMICAL & PHARMACEUTICAL CO LTD
- PURZER PHARMACEUTICAL CO LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : EVERGENE BIOTECH INDUSTRIAL CO LTD
Address : 5FI,
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Optical Accessories & Components
Company Name : WECKTECH BIOTECH CO LTD
Address : 5FI,
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Chemicals
PAYMENT RATING : 3 OBTAINED SCORES : 57
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for
MODERATE amounts depending on individual judgement experience.
*Bank Details*
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Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
At the time of preparing this report, the company had not yet submitted
it's Financial Statement for 2006, since it was ONLY incorporated in December
2005.
*Int´l Trade Activity (Currency: US$'s)
==============================
Year Imports Exports Total
2006 US$74,000.00 US$0.00 US$74,000.00
SC is considered medium-sized in its line with a short operating
history. Taking into consideration of its fairly good background, credit
dealings with SC in moderate amount can be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2834 Pharmaceutical
preparations
Manufacturing 2833 Medicinals
and botanicals
Manufacturing 2834 Pharmaceutical
preparations
Manufacturing 3841 Surgical
and medical instruments and apparatus
Manufacturing 3845 Electromedical
and electrotherapeutic apparatus, and parts
Manufacturing 5047 Medical/Dental
Equip/Supplies
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2941500000 Erythromycin
and its derivatives; salts thereof
Manufacturing 2501 Salt
incl table & dentrd, pure sodium chloride
Manufacturing 2918221000 Ortho-acetylsalicylic
acid (aspirin)
Manufacturing 2922491500 Benzocaine;
and procaine hydrochloride
Manufacturing 2933513000 Phenobarbital
Manufacturing 2934300400 Butaperazine
maleate; chlorpromazine; etymemazine chlorhydrate; fluphenazine
decanoate;
fluphenazine enanthate; piperacetazine,etc
Manufacturing 2934301000 Butaperazine
maleate; chlorpromazine; etymemazine chlorhydrate; fluphenazine
decanoate;
fluphenazine enanthate; piperacetazine,etc
Manufacturing 2936 Provitamins
and vitamins & derivatives & intermixs
Manufacturing 2936220000 Vitamin
b1 (thiamine) and its derivatives
Manufacturing 2936270000 Vitamin
c (ascorbic acid) and its derivatives
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturing Aspirin
Manufacturing Bismuth subcarbonate
Manufacturing Bulk drugs
Manufacturing Cardiovascular medicaments
Manufacturing Chlordiazepoxide HCL capsules
Manufacturing Chlorpheniramine maleate
Manufacturing Chlorpromazine
Manufacturing Chlorpromazine HCL SC tablets
Manufacturing Combigel tablets
Manufacturing Cyanocobalamin injection
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from
Importing from
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)