MIRA
INFORM REPORT
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Report Date : |
22.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
ORIENT EUROPHARMA CO LTD |
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Registered Office : |
7FL, 368 Fu Hsing South Rd Section 1, Ta-An Dist Taipei
City 106 |
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Country : |
Taiwan |
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Date of Incorporation : |
June 16, 1982 |
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Com. Reg. No.: |
12397982 |
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Legal Form : |
Public Company |
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Line of Business : |
Research and Development of western pharmaceuticals, cosmetics / natural
health products and other related consumer items. Importing of raw materials / components for in-house OEM production. Importing a wide range of finished consumer products, such as goat's
milk powder, cow's milk powder and other related nutrition products. Export and domestic sales of its finished products. |
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 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
ORIENT EUROPHARMA CO LTD
7FL, 368 FU HSING SOUTH RD SECTION 1
TA-AN DIST TAIPEI CITY 106, TAIWAN
TEL : 886- 2-27554881
FAX : 886-2-27551680
EXECUTIVE SUMMARY
INCORPORATION DATE : JUNE
16, 1982
REGISTRATION NO. :
12397982
LEGAL FORM :
PUBLIC COMPANY
CHIEF EXECUTIVE :
MR. CHENG-HUNG TSAI (CHAIRMAN)
STAFF STRENGTH :
312
CAPITAL :
US$ 18,105,009
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 2,253,177,000 (AS OF 2006)
EQUITIES : NTD 849,155,000 (AS OF 2006)
PAYMENT :
ABOVE AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 1,000,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.37280 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
TWD –Taiwan New Dollars
*Company History*
===============
1982 - Founded by Mr. Peter Tsai, with
its original purpose was to serve as the distributor for the
French pharmaceutical &
chemical company, RHONE-POULENC RORER.
1989 -
Expanded into the marketing & distribution of NUTRICARE products
2001 -
Established an Oncology Division in order to meet high-growth market trends in
this area.
2002 -
Began developing a new business - in the field of dermatological cosmetics (collaborating
with PIERRE-FABRE MEDICAMENT)
11 May, 2003 - Became
listed in Taiwan Stock Exchange - OTC Market with code number 4120.
*Company Name*
==============
Incorporated as :
MEDIPHARMA CO LTD
Date of incorporation : 16
June, 1982
Changed name to : ORIENT
EUROPHARMA CO LTD
Date of change :
N/A
*Capital Details*
============
Authorized capital : NTD
600,000,000
Initial paid up capital :
NTD 5,000,000
Paid up capital increase : NTD 514,002,250
Capital increases as follows:
Year
Increase (NTD)
------
---------------------
2006
453,891,550
2007
458,567,380
*Licenses & Permits*
================
License number : 99621346
Date issued : 13 May
1971
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
================
Location : Central
Business District (CBD)
Property status : Rented
Type of building : Commercial
building
Note:
Although rented by the company, the premises are owned by Management
Chairman, Miss Feng-ying Shen.
Other Contact Details
-----------------------------
Tel no. : 2-27024324
Fax no. : 2-27026741
E-mail :
orientan@ms17.hinet.net
wenting@mail.oep.com.tw
ph000625@mailtp.oep.com.tw
julie.ph@mail.oep.com.tw
*Factories, Size & Locations*
======================
Building Size : 7,439
sq. feet (Approx)
Location :
Taoyuan County
Property status : Owned
by ORIENT EUROPHARMA CO LTD
Facilities :
Modern
Type of building :
Industrial building
*Corporate & Organization Structure*
============================
A large specialized company operated and managed by an experienced team
of professionals.
The company is listed on the OTC (Over-the-counter Exchange) but is
considered a "public company" belonging to the category of
"Shang gui" (Emerging Public companies).
Organizational Chart
----------------------------
__________President
|
|------------------Auditor
| Managing Director
|
____|_______________
| |
|_Nutricare Division
Pharma _______ |
Regional Subsidiaries |_Oncology Division
Division | |
|_Demo-Cosmetic Division
| |_OE Hong
Kong |_Consumer Healthcare Division
Business | |_OE Singapore |_Pharma Plant
Development----- | |_OE Malaysia
Division |_OE China
|_Licensing
|_R&D
*Industry Ranking*
================
Generally regarded as one of the Top 5000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------- ---------
2004 1357
2005 1343
2006 1283
*Sales Ranking*
============
Generally regarded as one of the Top 5000 Companies in terms of sales.
Details of rank as follows :
Year Rank
------ ------
2006 727
*Registrar*
=========
The Capital Goup
Stock Market Code: 4120
*Accountants*
===========
DELOITTE & TOUCHE
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
Web
site: www.oep.com.tw the design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
E-mail: oep@mail.oep.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
================
Shareholders' Name No. of Shares
--------------------------- ----------------
TAIWAN EXCELSIOR CO LTD
6,847,373
Mr. Cheng-hung Tsai 4,805,837
Ms. Shu-fen Lin 2,545,599
SHIH LIN (BERMUDA) CO LTD
2,542,040
Mr. Meng-ling Tsai 639,083
Mr. Chun-chieh Wu 303,425
Management: Mr. Chun-yi Lee,
Manager
Ms. Li-shan
Tung, Manager
Ms. Yu-ling Lee, Manager
Name Nationality
Job Description Dept. / Division
Mr. Chun-yi Lee Taiwanese
Manager Business Development
Ms. Li-shan Tung Taiwanese
Manager Customer Service
Ms. Yu-ling Lee Taiwanese
Manager Finance
Ms. Miao-hui Hsu Taiwanese
Executive Human Resources
Ms. Su-mei Chen Taiwanese
Executive Human Resources
Ms. Hui-fang Chou Taiwanese
Manager Human Resources
Mr. Chun-yuan Lee Taiwanese
Manager Information
Mr. Theodor Stiftl Swiss Manager
Int'l Marketing
Mr. Chin-hsiang Chiang Taiwanese
Manager Public Relations
Ms. Li-lien Liang Taiwanese
Auditor -
Mr. Chun-chieh Wu Taiwanese
Manager -
Mr. Ming-jen Hsu Taiwanese
Manager -
Mr. Tsung-shih Hsu Taiwanese
Manager -
*Key Personnel*
=============
(1)
Mr. Cheng-hung Tsai
Founder : Co-
founder
Responsibilities : Handles the daily operation of the firm including all
financials and legal matters.
Resident status : Taiwan
(2)
Miss Chin-hsiang Chiang
E-mail : pr@mail.oep.com.tw
(3)
Miss Yu-ling Lee
E-mail : finance@mail.oep.com.tw
(4)
Miss Miao-hui Hsu
E-mail : ty_plant@mail.oep.com.tw
(5)
Miss Su-mei Chen
E-mail : hr@mail.oep.com.tw
*Main Products & Services*
=====================
Specializing in the following main areas of work:
1. Research and Development of western pharmaceuticals, cosmetics /
natural health products and other related consumer items.
2. Importing of raw materials / components for in-house OEM production.
3. Importing a wide range of finished consumer products, such as goat's
milk powder, cow's milk powder and other related nutrition products.
4. Export and domestic sales of its finished products.
Products: Aluminum foil
Baby products
Cocoa products
Cows milk
Cows milk
powder
*Competitors*
===========
The following locally based firms import and supply similar range of
products :
Goat's milk powder products:
----------------------------------------
(Arranged in order of quantities of Goat's milk being imported.)
- NEW TAI MILK PRODUCTS CO LTD
- NEW ZEALAND MILK PRODUCTS (FAR EAST) LTD
- MIGHTY ALLIANCE CORP
- SINO ACE INT'L CO LTD
- PAX MEDICA CO LTD (an affiliate of the company)
- UNIKID INT'L CO LTD
- JORTUF CO LTD
- NORBEL BABY CO LTD
- SENTOSA CO LTD
- CHAUYI ENTERPRISE CO LTD
Drugs & pharmaceutical products:
-----------------------------------------------
- DEFENVUR TRADING CO LTD
- FANG HSIN TRADING CO LTD
- GIRAFFES PHARMACEUTICAL CO LTD
- CHI FU TRADING CO LTD
*Quality Certification*
==================
Type of certification : CLA
*Exhibition Participation*
====================
Exhibition fair : 9th Taipei
International Food Show
Dates attended : 9-12 June, 1999
Location : Taipei
World Trade Center - Exhibition Hall
*Production Capacity*
==================
Item :
Western medicine
Maximum Capacity : 1,244,067
(NTD 1000 / Cases)
Current Capacity : 82,689
(NTD 1000 / Cases)
Year :
2006
*Detailed Product Specifications*
==========================
Goat's milk powder comes in several forms, including:
- Karihome Goat's Milk Infant Formula (Birth to 1 year) 400 & 900 gm/can
- Karihome Goat's Milk Growing-up Formula (From 1 year
onwards) 400 & 900 gm/can
- Karicare Goat's Milk Sweeties
- Babecare Goat Infant Formula 400 & 900 gm/can
- Babecare Goat Follow-on Formula 400 & 900 gm/can
These products are manufactured and packed in New Zealand under ISO 9002
standards, and supplemented with:
- Vitamins (C, D, E, B12, Folic
acid)
- Minerals (Ca, P, Cl, Na, K)
*Local Distribution Network*
=======================
100% of annual turnover is attributed to local sales.
In the local powder goat's milk industry, the firm controls over 13
percent of the market. Combined with
its affiliate, PAX MEDICA CO LTD together the two firms hold over a 16 percent
share of Taiwan's powdered
goat milk market.
*Export Markets*
=============
There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*International Trade Ranking*
=======================
The firm has been ranked among Taiwan's Top Importers/Exporters based on
the standard measured by the
Board of Foreign Trade (BOFT)
Details of rank are as follows :
Year Rank
------ -------
2003 1368
2004 1490
2005 1256
*Overseas Suppliers*
=================
Maintains the following overseas suppliers :
(1)
Supplier's name : NV BESINS
INT'L BELGIQUE SA
Country :
Belgium
Product/Material : Oestrogel
Gel
(2)
Supplier's name : UCB MFG
INC
Country : USA
Product/Material : Zaroxolyn
10mg, Mykrox Tablet 0.5mg, Zaroxolyn 5mg
(3)
Supplier's name : ELAN PHARMA
INT'L LTD
Country :
Ireland
Product/Material : Diltelan
Capsules 60mg, Verelan Sustained Release Capsules 80mg, Verelan Sustained
Release Capsules 240mg, Zelapar 1.25mg Tablet, Oral Lyophilisate 1.25mg
(4)
Supplier's name : PIERRE FABRE
MEDICAMENT PRODUCTION
Country : France
Product/Material : Airol
Vanishing Cream 0.05%, Navelbine 10mg/Ml Injectable Solution, Kertyol Shampoo
"Ducray", "Ducray" Photoscreen 30 Gel-Creme Ecran
Oil Free, "Ducray" Photoscreen 60
Creme Ecran, Photoscreen Sunscreencream-Gel Spf30
(5)
Supplier's name : CHIESI
FARMACEUTICI SPA
Country : Italy
Product/Material : Brexin Sachets, Brexin Tablets
(6)
Supplier's name : LABORATOIRES
BESINS INT'L
Country : France
Product/material : Oestrodose
(7)
Supplier's name : RECORDATI SPA
Country : Italy
Product/material : Zanidip FC Tablet 10mg
(8)
Supplier's name : BESINS INT'L
BELGIQUE
Country : Belgium
Product/Material : Androgel Gel
(9)
Supplier's name : PANCAP INC
Country : Canada
Product/Material : Provocholine Inhalation 100mg/Vial, Provocholine
Inhalation 1280mg/Vial
(10)
Supplier's name : DR AUGUST
WOLFF GMBH & CO ARZNEIMITTEL
Country : Germany
Product/Material : Zindaclin 1% Gel
(11)
Supplier's name : RP SCHERER
GMBH & CO KG
Country : Germany
Product/Material : Navelbine 30mg Soft Capsule, Navelbine 20mg, Soft
Capsule
(12)
Supplier's name : Q-MED AB
Country : Sweden
Product/Material : Q-Med"
Restylane Perlane, "Q-Med" Restylane, "Q-Med" Restylane
Fine Lines, "Q-Med" Restylane Touch, "Q-Med" Restylane Subq
(13)
Supplier's name : LABORATOIRES
DERMATOLOGIQUES DUCRAY PIERRE FABRE DERMOCOSMETIQUE
Country : France
Product/Material : Dermalibour Cream "Aderma", Total Sunblock
Lotion (Spf25) "Aderma", Anastim Solution "Ducray",
Photoscreen Sunscreen Milk Spf50+, Photoscreen Sunscreen Cream Spf50+
(14)
Supplier's name : LAB
DERMATOLOGIQUES AVENE PIERRE FABRE DERMO-COSMETIQUE
Country : France
Product/Material : Photoscreen 60 Lait Ecran Photoprotection
Extreme-Ducray
*LOCAL BRANCHES & MANAGEMENT*
=================================
Branch : ORIENT EUROPHARMA CO LTD - KAOHSIUNG CITY
Branch Address : 2, Alley 81, Lane 296, Hsin Ya Rd Chienchen Dist,
Kaohsiung City, 806
Branch Tel : [+886] 7-8154290
Branch Fax : [+886] 7-8154349
Branch Employees : 25
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name: BABECARE CO LTD
Address: 3Fl, 368 Fu Hsing South Rd Section 1 Ta-an Dist Taipei City
Ta-an Dist Taipei City 106 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Cosmetics, Toiletries & Personal Care
Company Name : BIO-NUTRI CO LTD
Address : Drake Chambers Tortola Virgin Islands (British)
Country : Virgin Islands (British)
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Medical Equipment & Pharmaceutical
Company Name : EU HWA PTE LTD
Address : Peace Centre 1 Sophia Rd #04-12 228149 Singapore
Country : Singapore
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Medical Equipment & Pharmaceutical
Company Name : NEXUS PHARMACEUTICAL CORP
Address : Unit 606 SEDCCO Bldg I Rada Cnr Legaspi Sts Legaspi Vill
Makati 1229 NCR Philippines
Country : Philippines
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Medical Equipment & Pharmaceutical
Company Name : OEP PHILIPPINES INC
Address : Unit 606 SEDCCO Bldg I Rada Cnr Legaspi Sts Legaspi Vill
Makati 1229 NCR Philippines
Country : Philippines
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Medical Equipment & Pharmaceutical
Company Name : ORIENT EUROPHARMA (M) SDN BHD
Address : 33 Jalan U1/30 Seksyen U1 Shah Alam 40150 Selangor Malaysia
Country : Malaysia
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Medical Equipment & Pharmaceutical
Company Name : ORIENT EUROPHARMA (NZ) CO LTD
Address : KPMG Legal Bldg 22 Fanshawe St Auckland 1001 Auckland New
Zealand
Country : New Zealand
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Medical Equipment & Pharmaceutical
Company Name : ORIENT EUROPHARMA CO LTD (HK)
Address : Unit 1711, 17Fl Olympia Plaza 255 King's Rd North Point Hong
Kong Hong Kong
Country : Hong Kong
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Medical Equipment & Pharmaceutical
Company Name : ORIENT EUROPHARMA PTE LTD
Address : #06-13 Peace Centre 1 Sophia Rd 228149 Singapore
Country : Singapore
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Importer
Industry : Beverages
*IMPORTER AGENCY LISTING*
==========================
Supplier : DAIRY GOAT CO-OPERATIVE (NZ) LTD
Country of Origin : New Zealand
Product Description : Goat milk powder
Brand : Karihome
Year : 1995
Supplier : DAIRY GOAT CO-OPERATIVE (NZ) LTD
Country of Origin : New Zealand
Product Description : Goat milk powder
Brand : Babecare
Year : 1995
Supplier : NEW ZEALAND DAIRY FOODS LTD
Country of Origin : New Zealand
Product Description : Goat milk powder
Brand : Karicare
Year : 1995
Supplier : NEW ZEALAND DAIRY FOODS LTD
Country of Origin : New Zealand
Product Description : Goat milk powder
Brand : Karihome
Year : 1995
Supplier : DAIRY GOAT CO-OPERATIVE (NZ) LTD
Country of Origin : New Zealand
Product Description : Goats milk
Brand : Dairy Goat
Year : 1995
Supplier : RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA SPA
Country of Origin : Italy
Product Description : Medicine tablets
Brand : Zanidip
Year : 2003
PAYMENT RATING : 2 OBTAINED SCORES : 75
|
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 MODERATE
amounts depending on individual judgement experience.
*Bank Details*
============
Maintains an account in the following banks :
(1)
Bank name : FIRST
COMMERCIAL BANK CO LTD
Branch : 368 Fu
Hsing South Rd Section 1 Ta-an Dist Taipei
Account number : 113-10-06782
Account number : 11310067823
Swift code : FCBKTWTP
(2)
Bank name : HUA NAN
COMMERCIAL BANK LTD
Account numbers : 130100014378
(NTD)
130970005062 (USD)
Swift code :
HNBKTWTP
(3)
Bank name : TAIWAN
COOPERATIVE BANK
Account number :
0914717209755
Swift code :
TACBTWTP
Currency : NTD
Denomination : in Thousand
2002 2003 2004
2005 2006
------- ------- ------- -------
-------
Current Assets 642,859 735,034
751,239 821,801 920,327
Funds & long-term
investments 226,762 250,117 193,349 146,411 139,753
Property 458,695 423,974 421,083 426,331 424,773
Other Assets 19,136 48,185
53,954 79,043 76,468
Total Assets 1,347,452 1,457,310
1,419,625 1,473,586 1,561,321
Current Liabilities (Before)
435,039 548,383 553,180 545,718
515,476
(After) 435,241 559,116
574,810 589,629
Long-term Liabilities 275,587 254,489
153,594 111,997 123,597
Other Liabilities 99,595 72,775
84,209 83,429 73,093
Total Liabilities (Before)
810,221 875,647 790,983 741,144
712,166
(After) 810,423 886,380 812,613
785,055
Common stock
400,000 420,000 432,600 439,104
457,688
Capital Reserve 46,957 46,957
46,957 46,957 68,458
Retained Earnings (Before)
83,312 105,391 150,496 241,402
315,416
(After) 63,110 82,058 122,362
182,704
Income Statement
Currency : NTD
Denomination : in Thousand
2002 2003 2004
2005 2006
------- ------- ------- ------- ------
Operating revenue
1,666,714 1,725,079 1,958,451 2,060,338
2,253,177
Gross Profit 607,214
595,759 709,156 780,062 829,820
Operating Income 94,764 90,158
148,447 204,371 204,200
Non-operating income
36,409 16,731 14,499 35,473
17,216
Non-operating expense
(55,107) (50,633) (74,094) (77,526)
(41,306)
Net Income 57,390 42,281
68,438 119,040 132,712
Earnings (losses) per share
(After)
1.26 0.93 1.51 2.62 2.92
*Financial Ratios*
==============
2002 2003 2004
2005 2006
------- ------- -------
------- ------
Ratio of liabilities to Assets %
60.13 60.9 55.72 50.3 45.61
Ratio of long-term capital to
fixed Assets% 177.2
214.38 205.77 217.64 246.21
Current ratio% 147.77 148.47
135.8 150.59 178.54
Quick ratio% 91.14
70.09 69.41 75.57 91.1
Interest coverage 3.47 3.29 7.25 13.43
18.11
Turnover of receivable (times)
5.85 5.95 6.4 6.34 6.23
Average collection period of
receivable 62 61 57 58 59
Turnover of inventories (times)
4.24 3.91 3.55 3.36 3.39
Turnover of expense (times)
8.57 13.04 11 12.82 9.79
Average days of sales 86 93 103 109 108
Turnover of fixed assets (times)
3.59 3.82 4.65 4.83 5.3
Turnover of total assets (times)
1.27 1.18 1.38 1.4 1.44
Return on total assets% 6.13 4.32 5.5 8.91 9.27
Return on shareholder's
Equity%
12.37 7.56 11.31 17.49 16.78
Operating Income 23.69 21.47
34.32 46.54 44.62
Net Income before tax
19.02 13.39 20.54 36.97 39.35
Profit margin% 3.44 2.45
3.49 5.78 5.89
Retroactive 1.26 0.93 1.51
2.62 2.92
Cash flows ratio% 28.3 - 43.15 15.96
17.31
Cash flows adequacy% - - 5.32 35.2 99.51
Cash reinvestment ratio%
12.42 - 25.48 6.73 4.13
Degree of operating leverage
6.46 3.85 1.31 1.24 1.27
Degree of financial leverage
1.48 1.38 1.11 1.07
1.05
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2002 $47,907,847.08 $38,731,014.66 $1,649,611.96
2003 $49,742,762.40 $42,021,626.30 $1,219,175.32
2004 $58,900,781.95 $42,695,488.72 $2,058,285.71
2005 $65,097,567.14 $46,558,799.37 $3,761,137.44
2006 $68,112,968.56 $47,198,337.36 $4,011,850.06
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2004 $22,826,798.02 $15,284.60 $22,842,082.62
2005 $29,059,209.00 $120,089.00 $29,179,298.00
2006 $36,000,000.00 $200,000.00 $36,200,000.00
SC is considered medium-sized in its line with a 25 years history. It is
considered a credit line up to USD 1,000,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2023 Milk
and cream, condensed, evaporated, and dry
Importing 2026 Fluid
milk and cream, and related products
Importing 2066 Chocolate
and cocoa products
Importing 2676 Sanitary
paper products
Importing 2833 Medicinals
and botanicals
Importing 2834 Pharmaceutical
preparations
Importing 2844 Toilet
preparations
Importing 3353 Aluminum
sheet, plate, and foil, rolled or drawn
Importing 5122 Drugs/Druggists'
Sundries
Manufacturing 2833 Medicinals
and botanicals
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2106900300 Food preps,<5.5% butterfat mixed with oth ingredients incl
sugar if >16% milk
solids
capable of being further processed/etc, see general note 15
Importing 0401 Milk
and cream, not concentrated or sweetened
Importing 0401100000 Milk and cream, not concentrated, not sweetened, fat content
not exceeding 1%
by
weight
Importing 0402 Milk
and cream, concentrated or sweetened
Importing 1901 Malt
ext; food prep of flour etc un 50% cocoa etc
Importing 1901100000 Preparations for infant use, put up for retail sale, subject to
quota
Importing 1901901000 Malt extract, fluid
Importing 2934302700 Other drugs,
Importing 3000 Pharmaceutical
products
Importing 3003 Medicaments
of mixtures, not dosage etc form
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Milk powder
Importer Cows milk
powder
Importer Medicinal
preparations
Importer Goat milk
powder
Importer Aluminum
foil
Importer Shampoo
Importer Cows milk
Importer Medical
drugs
Importer Medical
pharmaceuticals
Importer Medical
preparation
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Hong Kong
Exporting to Malaysia
Exporting to Singapore
Importing from Asia
Importing from Australia
Importing from Belgium
Importing from Canada
Importing from Czech Republic
Importing from Europe
Importing from France
Importing from Germany
Importing from Ireland
Importing from Italy
Importing from Japan
Importing from Netherlands
Importing from New Zealand
Importing from North America
Importing from Oceania
Importing from Sweden
Importing from USA
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. |
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%)