MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
WAH LEE INDUSTRIAL CORP |
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Registered Office : |
10FL, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
October 1, 1968 |
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Com. Reg. No.: |
75514419 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Trading of Electronic machinery, Semiconductor material,
Opto-electronics, Engineering plastic material, Composite material and
Advanced material |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Up To USD 10,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
WAH LEE INDUSTRIAL CORP
10FL,
TEL : 886-7-2164311
FAX : 886-7-2518886
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 1, 1968
REGISTRATION NO. :
75514419
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. RAY JUI-CHING CHANG (CHAIRMAN)
STAFF STRENGTH :
424
CAPITAL :
US$ 90,334,237
BUSINESS LINE :
TRADER
TURNOVER :
NTD 3,131,947,000 (AS OF MAR. 31, 2006)
EQUITIES :
NTD 5,770,320,000 (AS OF MAR. 31, 2006)
PAYMENT :
ABOVE AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.19940 = US$1 AS OF 2007-5-8
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
Note： The given address and phone number are wrong , and the correct address and phone number are listed above.
*Company History*
===============
1 October, 1968 -
Founded in
1970
- Established the Composite Materials Division, which essentially
created the composite
material industry in
- Introduced
glass fiber of ASAHI FIBER GLASS and polyester resin from
SHOKUBAI CO LTD
1972
- Became a trading company and established the Industrial Materials
Division.
- Introduced TORAY polyester film and PCB from SUMITOMO BAKELITE CO LTD
of
1973
- Established a Plastics Material Division.
- Introduced engineering plastics from GENERAL ELECTRIC, nylon and
polyacetal from
ASAHI CHEMICAL INDUSTRY CO LTD.
1975
- Established its
1976
- Established the Machinery Division by introducing injection molding
machine from
JAPAN STEEL WORKS and PCB manufacturing related tools such as exposure
machining from
1978
- Established its
1981
- Established a Marketing Research and Development Division to explore
semiconductor
related materials.
1987
- Purchased and moved into 11F-1 office at
order to
better serve its northern
1988
- Reorganized the Marketing and Research Division to become the
Electronic Materials
Division.
1989
- Established CHANG HWA ELECTROMATERIALS INC, for the sales of
semiconductor
packaging materials.
1992
- Re-established a Marketing Research and Development Division to
explore materials
and machinery related products of Opto-electronic Industry.
1997
- Changed company-wide information system from proprietary system based
on WANG
computers to
IBM's Open Systems.
- Became Y2K compliant and began to form the foundations of business
through
e-commerce.
- Established ASAHI KASEI WAH
LEE HI-TECH CORP a joint venture with ASAHI
CHEMICAL INDUSTRY CO LTD to manufacture
value-add and sell dry film photoresist.
1998
- Purchased and expanded into 11F-2 and 11F-3 office at
1999
- Established UNITIVE SEMICONDUCTOR TAIWAN CORP as joint venture with
UNITIVE INT'L CO to pursue solder bumping for IC package.
19 September, 2000 - Initiated First Public Offering on OTC.
2001
- Established an office in
2002
- Invested WAH FU INT'L TRADING (SHENZHEN) CO LTD.
22 July, 2002 -
Listed on the
*Company Registration*
===================
License number : 75514419
Date issued : 1 October,
1968
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Office & Facilities*
================
Size : 1,002.39
square feet
Location : Central
Business District
Property status : Owned by WAH
LEE INDUSTRIAL CORP
Type of building :
Other Contact Details:
------------------------------
Tel number : 7-2163830
Fax number : 7-2512208
Email addresses : npdms@mail.wahlee.com
eddy@mail.wahlee.com
hsl@mail.wahle.com
andycmd@mail.wahlee.com
chris@mail.wahlee.com
investor@mail.wahlee.com
thomas@leadtk.com.tw
Previous Contact Details:
----------------------------------
Address : 238 Liu Ho 2
Rd
Telephone nos : 7-2314117 /
2163830
Fax no. :
7-2512208
*Corporate & Organization
Structure*
=============================
Organization and management of the company is divided into:
|
-----------------Supervisor | --
Semiconductor Material Business Division
Board of Directors
| -- Engineering Plastic Business Division
| | ----- President & COO
-- | -- Electronic Machinery Business
Division
Chairman & CEO Office ---------| |
-- Composite Material Business Division
| | |
-- Advanced Material Business Division
Executive Steering -----------
| |
-- Opto-electronics Business Division
Committee | | |
-- Administration & Logistics Department
| |
Audits Department ----------
| ------ Finance Division -- | -- Accounting Department
| |
-- Investor Relations Department
| | -- Investment Management Department
|
| ------ Strategic Planning - | -- Human Resource Department
| Division | -- Overseas
Administration Department
| |
-- Operation Planning Department
| ------
Advanced | -- MIS
Department
Development Dept
*Capital Details*
=============
Initial registered capital
: NTD 500,000.00
Registered capital increase :
NTD 3,000,000,000.00
Paid up capital increases as follows:
Year Increases (NTD)
------
-----------------------
1974 6,000,000.00
1983 15,000,000.00
1984 21,000,000.00
1986 33,000,000.00
1987 52,000,000.00
1991 81,000,000.00
1993 100,000,000.00
1995 140,000,000.00
1996 160,000,000.00
1997 197,776,810.00
1998 406,220,580.00
1999 568,708,000.00
2000 835,256,890.00
2001 1,160,883,950.00
2002 1,465,016,540.00
2003 1,646,518,190.00
2004 1,737,519,280.00
2005 1,964,950,620.00
*Industry Ranking*
===============
- Generally regarded as one of the Top 500 Companies in
- Ranked among
Details of rank as follows :
Year Rank
------ -------
1996 136
1997 155
1998 145
NOTE: The company is already out of 500 Top companies in
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Auditors*
=========
- T N SOONG & CO
- DELOITTE & TOUCHE TOHMATSU
*Registrar*
=========
Stock Market Code : 3010
TAIWAN SECURITIES CO LTD
Web
site: www.wahlee.com
the design is professional and the content is well organized. At present
it is in both Chinese and English versions.
E-mail: service@mail.wahlee.com
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Shareholders' Name No. of
Shares
--------------------------
------------------
KUNG TAI INVESTMENT CO LTD 13,380,246
FU SHIH INVESTMENT CO LTD 9,513,466
Mr. Chun-ying Chen
2,801,061
Mr. Chih-hai Lin
2,422,752
Mr. Ching-ping Yeh
1,513,792
Mr. Ping-hung Chen 664,628
Mr. Ming-huang Huang
835,309
Mr. David Shou-teh Hsu -
Mr. Hao-ming Chu
-
Mr. Huan-wen Liu
-
*Branch Personnel*
===============
-----------------
Ms. Alice Li-hsueh Huang
Email address
alice@mail.wahlee.com
*Director's Details*
===============
(1)
Mr. Chih-hai Lin
Date of appointment : 17 September, 1969
Education : -
Bachelor's Degree Chemical Engineering,
Other positions : Chairman
of the following companies:
- TOA RESIN CORP LTD
- TAIHWA ENTERPRISE CO LTD
- XWISE INC
- RYSS DRUG DISCOVERY LABORATORY CORP
Director of the following
companies:
- TAIWAN NICCA CHEMICAL CO LTD
- MING TAI CHEMICAL CO LTD
- YU FENG RUBBER INDUSTRY CO LTD
(2)
Mr. Ching-ping Yeh
Date of appointment : 7 September, 1990
Education : EMBA,
Other positions : -
General Manager, WAH HONG INDUSTRIAL CORP
- Chairman, HONG YA TECHNOLOGY CROP
Director of the following companies:
- NAGASE WAH LEE PLASTICS CORP
- WAH LEE JAPAN CORP
Previous position : - Senior Vice
President, WAH LEE INDUSTRIAL CROP
Management: Mr. Kuo-ping Lee,
Manager
Mr. Tai-an Wang, Manager
Mr. Jen-chih Lin, Manager
Name Nationality
Job Description Dept. / Division
Mr. Kuo-ping Lee Taiwanese
Manager Account
Mr. Tai-an Wang Taiwanese
Manager Account
Mr. Jen-chih Lin Taiwanese
Manager Finance
Ms. Hsian-yin Chen Taiwanese
Executive Human Resources
Mr. Chih-yuan Chen Taiwanese
Manager Human Resources
Mr. Chin-chu Wu Taiwanese
Manager I.T.
Mr. Lee Taiwanese
Manager Investment
Ms. Ching-hui Chen Taiwanese
Manager Operations
Mr. Kuo-ting Chiang Taiwanese
Manager Public Relations
Mr. Chung-ming Su Taiwanese
Representative Sales
Ms. Ann Hui-chi Huang Taiwanese
Representative Sales
Ms. Emm Chung-wen Hsu Taiwanese
Representative Sales
Ms. Winnie Chao-wen Huang Taiwanese
Representative Sales
Mr. Chiu-yen Wu Taiwanese
Accountant -
Mr. Lee-yuan Kuo Taiwanese
Accountant -
Ms. Lulu Lu-hui Huang Taiwanese
Assist. to Chairman -
Ms. Hsu-chen Kuo Taiwanese
Auditor -
Mr. Ping-hung Chen Taiwanese
General Manager -
Mr. Hao-ming
Mr. Huan-wen Liu Taiwanese
Independent Director -
Mr. Ray Jiu-ching Chang Taiwanese
President -
Mr. Chen-min Wu Taiwanese
Senior Vice President -
Ms. Hsu-chen Lin Taiwanese
Senior Vice President -
Mr. David Shyu Taiwanese
Supervisor -
Mr. Jong-chuan Shu Taiwanese
Supervisor -
Mr. Ming-huang Huang Taiwanese
Supervisor -
Mr. Chun-ying Chen Taiwanese
Vice Chairman -
Mr. Jui-ting Chang Taiwanese
Vice General Manager -
Mr. Pin-heng Yang Taiwanese
Vice General Manager -
Mr. Tung-shen Wu Taiwanese
Vice General Manager -
*Key Personnel*
=============
(1)
Mr. Ray Jiu-ching Chang
Resident Status :
Date of birth : 12
October, 1935
Date of appointment : 26 May,
1971
Work experience : More than
30 years
Responsibility : Daily operation of the firm including
all financial and legal matters.
Education :
Bachelor's Degree Chemical Engineering,
Previous position : -
Engineer, CHINESE PETROLEUM CORP
Other position :
Chairman of the following companies:
- WAH HONG INDUSTRIAL CORP
- UNIVISION TECHNOLOGY INC
- NAGASE WAH LEE PLASTICS CORP
- ORC TECHNOLOGY CORP
- WAH LEE HOLDING LTD
- SHC HOLDING LTD
- GLOBLE SYK HOLDING LTD
- WAH HONG HOLDING LTD
- WAH HONG TECHNOLOGY LTD
- HO FONG INVESTMENT CO LTD
Director of the following
companies:
- ASAHI KASEI WAHLEE HI-TECH
- CHANG WAH ELECTROMATERIALS INC
- UNITIVE SEMICONDUCTOR TAIWAN CORP
- DAILY POLYMER CORP
(2)
Mr. Chun-ying Chen
Date of appointment : 7
September, 1990
Education : B.S.
Department of Mining and Metallurgical Engineering, NATIONAL CHENG
Other Position :
Chairman of CHANG WAH ELECTROMATERIALS INC
Director of the following companies:
- NAGASE WAHLEE PLASTICS CORP
- ORC TECHNOLOGY CORP
- WSP-ELECTROMATERIALS LTD
(3)
Mr. Ping-hung Chen
Education : B.S.
Department of Textile Engineering,
Other positions : -
Chairman, AHEAD OPTOELECTRONICS INC
Director of the following companies:
- WAH LEE JAPAN CORP
- SHANGHAI HUA CHANG TRADING CO LTD
Supervisor of the following companies:
- CHANG WAH ELECTROMATERIALS INC
- WAH HONG INDUSTRIAL CORP
- NAGASE
WAH LEE PLASTICS CORP
(4)
Mr. Hao-ming Chu
Date of appointment : 30 May,
2002
Education : Ph D
from
Work experience :
Professor, Department of Money & Banking,
Other Position : -
President of
- Director of EXPORT-IMPORT BANK OF THE REPUBLIC OF
(5)
Ms. Winnie Chao-wen Huang
Tel : 7-2163830
Fax :
7-2512208
Email :
mcd@mail.wahlee.com
Responsibility :
Electronic Machinery Business Division -
(6)
Ms. Ann Hui-chi Huang
Tel : 7-2164297
Fax :
7-2512208
Email :
imd@mail.wahlee.com
Responsibility :
Advanced Material Business Division -
(7)
Mr. Ming-huang Huang
Date of appointment : 7 September,
1990
Education : B.S.
Department of Chemical Engineering,
Work experience : Vice
President of the company
Other Position : -
General Manager of NAGASE WAH LEE PLASTICS CORP
- Chairman
of
(8)
Mr. Huan-wen Liu
Date of appointment : 30 May,
2002
Education :
Bachelor's Degree from
Work Experience : General
Manager of Hua Nan Commercial Bank,
Other Position :
Director of HNCB INSURANCE AGENCY CO LTD
(9)
Mr. Jong-chuan Shu
Date of appointment : 11 June,
1999
Education : -
B.S., Department of Architecture,
- Research, Department of Urban Engineering, UNIVERSITY OF
Work experience : -
Chairman of Presidium, National Assembly
- Board Chairman of The National Association of Architect (
Other Position :
Chairman of the following companies:
- HSU ARCHITECT BUSINESS OFFICE
- UNITED ENGINEERING CONSULTANT LTD
(10)
Mr. David Shyu
Education : PhD,
Work experience :
Professor, Department of Finance Management, NATIONAL SUN YAT-SEN
UNIVERSITY
Other Position : -
Supervisor of LASER TEK TAIWAN CO LTD
- Director of CHINESE GAMER INT'L CORP
(11)
Mr. Chung-ming Su
Tel :
7-2164311
Fax :
7-2512208
Email :
cmsu@wahlee.com
Responsibility :
Opto-electronics Business Division -
*Main Products & Services*
====================
Specializes in trading of the following products:
- Electronic machinery
- Semiconductor material
- Opto-electronics
- Engineering plastic material
- Composite material
- Advanced material
Products also include:
- DVD/CD-R optical inspection system of disk defects
- DVD-RAM/RW CD-R/RW pick up head objective lens
- Dynamic tilt measurement system for pick up head
- DVD-R/CD-R Dyes
- KOHZU precision position stages
- Softronic spindle motor
- Faraday rotator
- Automatic assemble system for LCD or LCOS optical engines
- DVD-RAM/RW.CD-RW Disk initializer
- ITO films
- PPP Plastic alloy
- FR ABS Plastic alloy
- FR PS Plastic alloy
- PCT Plastic & alloy
- PBT Plastic & alloy
- PC Opto electing
- COC (Arton)
- PES
- DAP
- BS
- MS
- CA
- Fabric & undirectional prepregs of glass
- Thermoset & Thermoplastic prepregs
- SMC & BMC Materials
Products: Copolymer
Hydrogen
peroxide
Polyamides
PS
(polystyrene)
Polymers
*Brand*
======
WL
Wah Lee
*Payment Terms*
==============
Sales
-------
Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Purchases
--------------
Local : Cash
30-60 days credit
90 days credit
Telegraphic Transfer (T/T)
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A) with settlement using Telegraphic Transfer (T/T)
*Quality Certification*
==================
Type of certification : ISO14001
Approved number : TW0300393EM
Other details : Execute
and fully apply ISO14001 environment control system continually carry out
energy
control, and resources recycling,
continual improvement, pollution prevention, decrease the
effect of any incident to the lowest
rate.
*Exhibition Participation*
====================
Participated in the following local exhibitions:
(1)
Exhibition Fair :
Dates Attended : 30 September - 4
October, 1999
Location :
(2)
Exhibition Fair : Photonics
Taipei
Dates Attended : 26-29 July, 2000
Location :
(3)
Exhibition Fair :
Dates Attended : 5-8 May, 2001
Location :
(4)
Exhibition Fair :
Dates Attended : 21-25 June, 2001
Location :
(5)
Exhibition Fair :
Dates Attended : 21-25 June, 2001
Location :
(6)
Exhibition Fair : SEMICON Taiwan 2002
Dates Attended : 16-18 September,
2002
Location :
*Competitors*
============
The following locally based companies supply similar range of products:
- YUAN CHERNG INDUSTRY CO LTD
- KUNSTEK CORP
- FORMOSE CHEMICAL CO LTD
- ABB LTD
-
- MITAC TECHNOLOGY CORP
- ITC TAIWAN INC
- CHING KUANG CHEMICAL CO LTD
- BAYER TAIWAN CO LTD
- CHEER PENG TRADING CO LTD
- GENIUS-FIVE ENTERPRISE CO LTD
-
- GISH INT'L CO LTD
- GIGANTEX COMPOSITE TECHNOLOGIES CO LTD
- GOLDEN SUN NEWS TECHNIQUES CO LTD- NISSAN TAIWAN LTD
- PROSPRISE INT'L LTD
- KHAN'S ENTERPRISE CO LTD
*Domestic Suppliers*
=================
WAH LEE's prime business activity is the marketing and sales of
components produced and supplied by associated companies within the same
"Group of Companies".
In addition to this supply, WAH LEE also deals with suppliers which are
NOT related to the "Group of Companies". The following are two
examples of major local suppliers:
(1)
Supplier's Name : KEMITEK
INDUSTRIAL CORP
Products/Materials : Chemicals
(2)
Supplier's Name : ITOCHU
TAIWAN CORP
Products/Materials : Semiconductor materials and Semiconductor-mfg
equipment
*Domestic Customers*
==================
Company name : TAIWAN
SEMICONDUCTOR MANUFACTURING CO LTD
(TSMC)
Annual sales : TSMC
represents approximately 10.34% of WAH
LEE's annual turnover in 2005.
Relationship : TSMC management
reports that the supplier-buyer relationship is a steady and reliable one.
*Domestic Agents & Distributors*
===========================
- TAI-YOUNG HIGH TECH CORP
*Local Distribution Network*
=======================
82% of the annual turnover is attributed to local sales.
*Export Markets*
==============
18% of the annual turnover is attributed to export.
*LOCAL BRANCHES & MANAGEMENT*
=================================
Branch : WAH LEE INDUSTRIAL CORP -
Branch Address : 11Fl Pao Fu Business Bldg 369 Fu Hsing North Rd
Sungshan Dist,
Branch Tel : [+886] 2-27152087
Branch Fax : [+886] 2-27133315
Branch Email : wlkh@mail.wahlee.com
Branch Employees : 10
Branch Management
Name Job Description Nationality
Ms. May-ching Chao Representative Taiwanese
Mr. Richard Ming-tan Lai Representative Taiwanese
Ms. Joyce Hui-hsien Lai Representative Taiwanese
Ms. Chris Mei-yin Lin Representative Taiwanese
Branch : WAH LEE INDUSTRIAL CORP -
Branch Address : 8Fl-2,
Branch Tel : [+886] 3-5715532
Branch Fax : [+886] 3-5719842
Branch Email : alice@mail.wahlee.com
Branch Employees : 10
Branch Management
Name Job Description Nationality
Ms. Alice Li-hsueh Huang Representative Taiwanese
Branch : WAH LEE INDUSTRIAL CORP -
Branch Address : 11Fl,
Branch Tel : [+886] 4-23597500
Branch Fax : [+886] 4-26592853
Branch Employees : 100
Branch Management
Name Job Description Nationality
Ms. Amy Chao-yu Chen Representative Taiwanese
Ms. Page Pei-chun Laio Representative Taiwanese
Branch : WAH LEE INDUSTRIAL CORP -
Branch Address : 18Fl,
Branch Tel : [+886] 6-3135066
Branch Fax : [+886] 6-3138087
Branch Employees : 10
Branch Management
Name Job Description Nationality
Ms.
Ms. Rosa Su-yu Liu Representative Taiwanese
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name : ASAHI KASEI WAH
LEE HI-TECH CORP
Address : 11Fl-6,
Country :
Relationship : Joint-Venture
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Chemicals
Company Name : CHANG WAH ELECTROMATERIALS INC
Address : 6Fl Nantze Export Processing Zone (N.E.P.Z.)
Country :
Relationship : Joint-Venture
Legal Form : Private Limited Company
Company Type : Trader
Industry : Electronic Products & Components
Company Name : HIGHTECH POLYMER SDN BHD
Address : United Garden No 12 Jln 11 Off Jln Kelang Lama Kuala Lumpur
58200
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Service
Industry : Professional Services
Company Name : NAGASE WAH LEE PLASTICS CORP
Address : 9Fl Chuan Ta Bldg 37 Min Chuan East Rd Section 3
Country :
Relationship : Joint-Venture
Legal Form : Private Limited Company
Company Type : Trader
Industry : Plastics & Products
Company Name : ORC TECHNOLOGY CORP
Country :
Relationship : Minor Investments
Legal Form : Private Limited Company
Industry : N/A
Company Name : RAYCON INDUSTRIES INC
Address : 201 O Hartog Drive San Jose 95131 California
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Importer
Industry : Chemicals
Company Name : RAYCONG INDUSTRIAL (
Address : Units 1008-1011, 10Fl Metroplaza - Tower 2,
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Importer
Industry : Chemicals
Company Name : RAYCONG INDUSTRIAL (
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Importer
Industry : Chemicals
Company Name : SHANGHAI YIKANG CHEMICALS & INDUSTRIES CO LTD
Address : Rm 1-4, 20Fl
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Chemicals
Company Name : UNITIVE SEMICONDUCTOR TAIWAN CORP
Address : Hsinchu Industrial Park
Country :
Relationship : Joint-Venture
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : UNIVISION TECHNOLOGY INC
Country :
Relationship : Minor Investments
Legal Form : Private Limited Company
Industry : N/A
Company Name : WAH FU INT'L TRADING (SHENZHEN) CO LTD
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Chemicals
Company Name : WAH FU INT'L TRADING (SHENZHEN) CO LTD - CHANGAN OFFICE
Address : Dongguan
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Chemicals
Company Name : WAH HONG INDUSTRIAL CORP
Address : 11Fl-6,
Country :
Relationship : Minor Investments
Legal Form : Public Company
Company Type : Manufacturer
Industry : Chemicals
Company Name : WAH LEE HOLDING LTD
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Service
Industry : Financial Services - General
Company Name : WAH LEE JAPAN CORP
Address : Chuo-ku Tokyo 1040031 Japan
Country :
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Importer
Industry : Chemicals
Company Name : WAH PHIL CORP
Address :
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : WAH SIN INDUSTRIAL PTE LTD
Address : Le Shantier
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Plastics & Products
Company Name : WAH TECH INDUSTRIAL CO LTD
Address : 18Fl
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Importer
Industry : Chemicals
*Subsidiaries, Joint-ventures & Affiliates*
==============================
Joint-ventures
--------------------
(1)
CHANG WAH ELECTROMATERIALS CORP
This is a joint-venture between the following companies:
- WAH LEE INDUSTRIAL CORP (
- NAGASE & CO LTD (
(2)
NAGASE WAHLEE PLASTICS CORP
This is a joint-venture between the following companies:
- NAGASE & CO LTD (
- WAH LEE INDUSTRIAL CORP (
(3)
ASAHI KASEI WAH LEE HI-TECH CORP
This is a joint-venture between the following companies:
- ASAHI KASEI CORP (
- WAH LEE INDUSTRIAL CORP (
(4)
UNITIVE SEMICONDUCTOR TAIWAN CORP
This is a joint-venture between the following companies:
- WAH LEE INDUSTRIAL CORP (
- UNITIVE INT'L CO
Also invested through joint venture with the following companies:
- WAH HONG INDUSTRY CO (BMC and magnesium)
- UNITIVE SEMICONDUCTORS TAIWAN CO (solder bumping)
*Branches*
==========
Maintains the following branches:
Location Other
contact numbers
------------
------------------------------
Sungshan Dist Fax no. :
2-27175473
*IMPORTER AGENCY LISTING*
==========================
Supplier : WACKER CHEMIE GMBH
Country of Origin :
Product Description : Chemical products
Brand : WACKER
Year : 2002
Supplier : EKC TECHNOLOGY
Country of Origin :
Product Description : Cmp slurry
Brand : EKC
Year : 2002
Supplier : KAO CORP
Country of Origin :
Product Description : Detergents
Brand : Kao
Year : 2002
Supplier : KANEBO LTD
Country of Origin :
Product Description : Disc pads
Brand : Kanebo
Year : 2002
Supplier : WL GORE & ASSOCIATES INC
Country of Origin :
Product Description : Electronic components
Brand : GORE
Year : 2002
Supplier : WL GORE & ASSOCIATES INC
Country of Origin :
Product Description : Emi gaskets
Brand : GORE
Year : 2002
Supplier : LAN TECHNICAL SERVICE CO LTD
Country of Origin :
Product Description : Encapsulation line
Brand : LAN Technical
Year : 2002
Supplier : GE PLASTICS JAPAN LTD
Country of Origin :
Product Description : Engineering plastics
Brand : GE
Year : 1973
Supplier : ASAHI FIBER GLASS CO LTD
Country of Origin :
Product Description : Glass fiber
Brand : Asahi
Year : 1970
Supplier : PRAXAIR SURFACE TECHNOLOGIES
Country of Origin :
Product Description : Hard disc slurry
Brand : PRAXAIR
Year : 2002
Supplier : LAN TECHNICAL SERVICE CO LTD
Country of Origin :
Product Description : Ink jet printing equipment
Brand : LAN Technical
Year : 2002
Supplier : LAN TECHNICAL SERVICE CO LTD
Country of Origin :
Product Description : Low temperature cvd
Brand : LAN Technical
Year : 2002
Supplier : SIZARY INC
Country of Origin :
Product Description : Machinery
Brand : SIZARY
Year : 2002
Supplier : KOY ENGINEERING CORP
Country of Origin :
Product Description : Machines
Brand : KOY
Year : 2002
Supplier : ASAHI KASEI CORP
Country of Origin :
Product Description : Nylon
Brand : Asahi
Year : 1973
Supplier : NIPPON STEEL CORP
Country of Origin :
Product Description : Pad conditioners
Brand :
Year : 2002
Supplier : SUMITOMO BAKELITE CO LTD
Country of Origin :
Product Description : Pcb (printed circuit boards)
Brand : Sumitomo
Year : 1972
Supplier : JSR CORP
Country of Origin :
Product Description : Photoresist films
Brand : JSR
Year : 2002
Supplier : ASAHI KASEI CORP
Country of Origin :
Product Description : Polyacetal
Brand : Asahi
Year : 1973
Supplier : TORAY INDUSTRIES INC
Country of Origin :
Product Description : Polyester films
Brand : Toray
Year : 1972
Supplier : NIPPON SHOKUBAI CO LTD
Country of Origin :
Product Description : Polyester resins
Brand :
Year : 1970
Supplier : SUMITOMO BAKELITE CO LTD
Country of Origin :
Product Description : Polyamides
Brand : Sumitomo
Year : 1972
Supplier : OEM SPARES INC
Country of Origin :
Product Description : Spare parts
Brand : OEM SPARES
Year : 2002
Supplier : CLEAN TECHNOLOGY CO LTD
Country of Origin :
Product Description : Uv lamps
Brand : Clean Technology
Year : 2002
Supplier : LAN TECHNICAL SERVICE CO LTD
Country of Origin :
Product Description : Uv press
Brand : LAN Technical
Year : 2002
*OVERSEAS AGENTS AND DISTRIBUTORS*
====================================
Agent : RAYCONG INDUSTRIAL (
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : WAH LEE JAPAN CORP
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : WAH LEE INDUSTRIAL CORP -
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : ASIA COMMUNICATIONS INT'L INC
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : WAH LEE INDUSTRIAL CORP -
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : RAYCONG INDUSTRIAL (
Country of Origin :
Product Description : Chemicals
Year : 2000
Agent : WAH TECH INDUSTRIAL CO LTD
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : WAH PHIL CORP
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : RAYCON INDUSTRIES INC
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : RAYCONG INDUSTRIAL (
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : WAH FU INT'L TRADING (SHENZHEN) CO LTD - CHANGAN OFFICE
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : WAH FU INT'L TRADING (SHENZHEN) CO LTD
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : SHANGHAI YIKANG CHEMICALS & INDUSTRIES CO LTD
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
Agent : WAH SIN INDUSTRIAL PTE LTD
Country of Origin :
Product Description : Chemicals
Brand : WL
Year : 2000
PAYMENT RATING : 2 OBTAINED SCORES : 80
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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
FAIRLY LARGE amounts depending on individual judgement experience.
*Bank Details*
============
Bank name : HUA NAN
COMMERCIAL BANK LTD
Branch :
Account number : 700-51-000200-01
Swift code : HNBKTWTP
Balance Sheet
Currency : NTD
Denomination : In Thousand
2000 2001 2002 2003 2004 2005 31 March,
2006
---------- ---------- ---------- ---------- ---------- ---------- ---------------
Current
Assets 3,102,912 3,209,437 3,986,543 4,761,330 4,806,980 5,856,174 5,676,799
Funds
& Long-term
investments 606,176 996,049 1,457,972 1,639,243 2,038,430 2,591,178 2,942,779
Property 320,742 316,631 399,247 387,370 390,959 416,579 423,536
Intangible
Assets 5,194 591 6,809 12,145 15,120 17,709 17,709
Other
Assets 69,261 74,418 157,616 187,932 171,054 166,648 163,631
Total
Assets
4,104,285 4,597,126 6,008,187 6,988,020 7,422,543 9,048,288 9,224,454
Current
Liabilities:
(Before) 2,318,866 1,711,764 2,180,247 2,697,488 3,304,315 3,688,897 3,323,393
(After) 2,431,296 1,916,151 2,516,197 3,149,616 3,899,844 - -
Long-term
Liabilities 87,801 434,900 456,631 479,407 23,051 - -
Other
Liabilities
44,360 37,696 41,254 39,972 35,852 106,474 130,741
Total
Liabilities:
(Before) 2,451,027 2,184,360 2,678,132 3,216,867 3,363,218 3,795,371 3,454,134
(After) 2,563,457 2,388,747 3,014,082 3,668,995 3,958,747 - -
Common
Stock 835,257 1,160,884 1,465,017 1,646,519 1,737,519 1,964,950 1,964,951
Capital
Reserve 150,930 422,015 846,867 846,867 825,427 1,244,505 1,264,699
Retained
Earnings:
(Before) 666,983 813,425 1,001,452 1,262,562 1,534,070 2,030,520 2,521,189
(After) 278,926 404,905 484,000 673,644 805,665 - -
Total
Shareholder's
Equity:
(Before) 1,653,258 2,412,766 3,330,055 3,771,153 4,059,325 5,252,917 5,770,320
(After) 1,540,828 2,208,379 2,994,105 3,319,025 3,463,796 - -
Income Statement
Currency : NTD
Denomination : In Thousand
2000 2001 2002 2003 2004 2005 31 March,
2006
----------
----------
---------- ---------- ---------- ---------- ---------------
Operating
revenue 5,826,334 6,276,876 7,346,139 7,992,040 9,493,124 11,351,038 3,131,947
Gross
profit
1,216,046 1,127,803 1,360,050 1,305,243 1,525,925 1,682,777 438,920
Operating
income 637,912 590,235 745,422 645,826 790,330 867,703 217,153
Non-operating
income 152,834 151,906 153,409 361,271
552,031 753,035 355,376
Non-operating
expense 94,161 55,225 58,586 63,106 132,812 113,740 8,083
Net
income
542,348 547,762 649,549 791,367 1,002,270 1,224,855 490,669
Earnings
per share 3.47 3.10 3.52 4.00 5.14 6.29 2.50
*Financial Ratios*
==============
(1)
Year Shareholder's Return on Return on Return on Debt to Return on Net Worth
Equity (NTDM) Sales (%) Assets (%) Equity(%)
Assets(%) Net worth (%) (NTD100M)
------- -------------------- --------------- ---------------- -------------- --------------- ------------------ ---------------
1998 730.00 4.14 6.95 22.60 69.25 - -
2001 - 8.73 11.92 - 47.51 22.71 24.13
2002 - 8.85 10.82 19.52 44.57 - 33.30
(2)
For the year ended 31 December :
2004 2003 2002
2001 2000 1999
--------- ---------- ---------- ---------- ---------- ----------
Ratio
of liabilities to Assets (%) 45.31 46.03 44.57 47.52 59.72 65.60
Ratio
of long-term capital to fixed Assets (%)
1044.20 1097.29 948.46 899.36 542.82 387.17
Current
ratio (%)
145.48 176.51 182.85 187.49 133.81 137.69
Quick
ratio (%)
106.99 140.14 139.55 143.59 91.89 100.91
Interest
coverage
31.41 29.17 27.86 17.11 16.22 8.53
Turnover
of receivable (times) 3.35 3.25 3.75 3.54 3.80 3.59
Average
collection period of receivable
109.00 112.00 97.00 103.00 96.00 102.00
Turnover
of inventories (times) 7.58 7.09 6.91 5.75 5.66 6.15
Turnover
of payable (times) 4.42 4.04 4.49 4.17 4.11 4.24
Average
days of sales
48.00 51.00 53.00 64.00 64.00 59.00
Turnover
of fixed assets (times) 24.28 20.63 18.40 19.82 18.17 13.91
Turnover
of total assets (times) 1.28 1.14 1.22 1.37 1.42 1.54
Return
on total assets (%) 14.32 12.57 12.69 13.33 16.59 10.82
Return
on shareholder's Equity (%) 25.60 22.29 22.62 26.94 41.21 29.34
Operating
Income
45.49 39.22 50.88 50.84 76.37 50.13
Net
Income before tax
69.61 57.33 57.35 59.17 83.04 55.76
Profit
margin (%)
10.56 9.90 8.84 8.73 9.31 5.72
Retroactive
5.30 4.12 3.60 3.14 3.76 1.82
-
5.14 4.00 3.52 3.10 - -
Cash
flows ratio (%)
15.59 3.01 26.27 30.71 4.15 16.03
Cash
flows adequacy (%)
33.35 50.35 70.64 61.02 40.80 54.91
Cash
reinvestment ratio (%) 2.86 (4.84) 10.25 15.01 5.26 19.27
Degree
of operating leverage 1.25 1.33 1.21 1.28 1.31 1.72
Degree
of financial leverage 1.05
1.05 1.04 1.08 1.08 1.17
(3)
2005 31 March,
2006
------------- -------------
Ratio
of liabilities to
Assets % 41.95 37.45
Ratio
of long-term capital to
fixed Assets% 1,264.26 1,365.65
Current
ratio%
158.75 171.00
Quick
ratio%
120.81 130.23
Interest
coverage
33.48 72.98
Turnover
of receivable (times)
3.57 3.76
Average
collection period
of receivable 102.00 97.00
Turnover
of inventories (times)
7.88 8.59
Turnover
of expense (times)
4.35 4.46
Average
days of sales
46.00 42.00
Turnover
of fixed assets (times)
27.25 29.58
Turnover
of total assets (times)
1.25 1.36
Return
on total assets%
15.30 21.74
Return
on shareholder's Equity% 26.31 35.61
Operating
Income
44.16 11.02
Net
Income before tax
76.69 28.73
Profit
margin%
10.79 15.67
Retroactive
6.42 2.50
-
6.29 2.50
Cash
flows ratio%
28.32 -
Cash
flows adequacy%
49.03 -
Cash
reinvestment ratio%
9.61 -
Degree
of operating leverage
1.24 -
Degree
of financial leverage 1.06 -
*Financial History*
===============
2000 - Invested in WAH HONG
INDUSTRIAL CORP and TELELYNX INC.
- Acquired more than 50%
of stock share of CHANG WAH ELECTROMATERIALS CORP.
2001 - Acquired more than 50% of
WSP ELECTROMATERIALS INC
*Int´l Trade Activity (Currency:
=============================
Year Imports Exports Total
2002 $58,876,014.98 $15,374,110.00 $74,250,124.98
2003 $57,789,087.00 $13,486,282.01 $71,275,369.01
2004 $68,789,940.99 $25,105,308.00 $93,895,248.99
2005 $65,926,911.97 $27,999,917.00 $93,926,828.97
*Financial Summary (Currency:
================================
Year Sales Assets Net Income
1999 $137,082,843.75 $88,927,718.75 $7,834,375.00
2000 $181,223,452.57 $127,660,497.67 $16,869,300.16
2001 $182,149,622.75 $133,404,701.10 $15,895,589.09
2002 $211,156,625.47 $172,698,677.78 $18,670,566.25
2003 $230,450,980.39 $201,500,000.00 $22,819,117.65
2004 $285,507,488.72 $223,234,375.94 $30,143,458.65
2005 $358,642,590.84 $285,885,876.78 $38,700,000.00
Over the past 39 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 10,000,000 appears to be
within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2821 Plastics
materials and resins
Importing 2822 Synthetic
rubber
Importing 2823 Manmade
fibers, cellulose
Importing 2899 Chemical
preparations,
Importing 3000 Rubber
& Misc. Plastics
Importing 3053 Gaskets,
packing, and sealing devices
Importing 3081 Plastics film, strips, and sheets,
unsupported
Importing 3672 Printed
circuit boards
Importing 3679 Electronic
components,
Service 3087 Plastics
Resins Custom Compnd'g
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2807000000 Sulfuric
acid and oleum
Exporting 2847000000 Hydrogen
peroxide, whether or not solidified with urea
Exporting 2905120010 Propan-1-ol
Exporting 3301300000 Resinoids
Exporting 3903190000 Polystyrene,
nesoi
Exporting 3903200000 Styrene-acrylonitrile
(san) copolymers
Exporting 3903300000 Acrylonitrile-butadiene-styrene
(abs) copolymers
Exporting 3906100000 Polymethyl
methacrylate
Exporting 3906906000 Other
acrylic polymers in primary forms, nesoi
Exporting 3907400000 Polycarbonates
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporting Resinoids
Exporting Sulfuric acid
Exporting Polymethyl
Importing Mineral substances
Importing Plates
Importing Synthetic fiber
Importing Synthetic filament yarn
Importing SBR (styrene butadiene rubber)
Importing Mineral wool
Trading 2-code laser marking system
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)