MIRA
INFORM REPORT
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Report Date : |
30.08.2007 |
IDENTIFICATION DETAILS
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Name : |
BIGEAST CHEMICAL CO LTD |
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Registered Office : |
2FL, 10, Alley 1, Lane 78, Chang An |
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Country : |
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Date of Incorporation : |
May 6, 1988 |
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Com. Reg. No.: |
22879256 |
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Legal Form : |
Private |
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Line of Business : |
Importation of medicine raw materials Domestic sales of its imported products to local medicine
manufacturers. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
Up To USD 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name &
address
BIGEAST CHEMICAL CO LTD
2FL, 10, ALLEY 1, LANE 78, CHANG AN
TEL : 886- 2-25580904
FAX : 886-2-25592426
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
6, 1988
REGISTRATION NO. :
22879256
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HAN-LUNG LIN (CHAIRMAN)
STAFF STRENGTH :
8
CAPITAL :
US$ 151,057
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.1134 = US$1 AS OF
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
TWD –
*Office & Facilities*
================
Size : 1,080
sq. ft. (Approx)
Location : Central business
district for medicine products.
Property status : Rented
Type of building : Semi
-commercial
Comments : Owns showroom
in the 1Fl of the same address
*Office & Facilities*
================
Size : 102 sq
meters (Approx)
Location : Centra
Business District (CBD)
Property status : Rented
Type of building : Commercial
building
Other tel :
2-25553829
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
=============================
A small-sized specialized company operated and managed by the owner.
*Reputation*
==========
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.
E-mail: elancliu@ms27.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name % of Shares
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Mr. Han-lung Lin 99.00
Undisclosed shareholders 1.00
Management: Mr. Han-chi Liu,
Manager
Mr. Han-lung Lin, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Han-chi Liu Taiwanese
Manager Sales
Mr. Han-lung Lin Taiwanese
General Manager -
*Key Personnel*
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Mr. Han-lung Lin
Resident status :
Founder :
Sole-Founder
Work experience : More than 15 years
Responsibilities : Daily
operation of the firm including all financial and legal matters
*Main Products & Services*
=====================
Specializes in two main areas of work:
1. Importation of medicine raw materials
2. Domestic sales of its imported products to local medicine
manufacturers.
Products: Chemical products
Enzymes
Hormone
medicine
Hormones
Medicine raw
materials
*Payment Terms*
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Sales
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Local : 30-90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Document against
Acceptance (D/A)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Document against
Acceptance (D/A)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Competitors*
===========
The following locally based companies supply identical range of products
:
- MONSANTO FAR EAST LTD -
- LYNNBROS INDUSTRIAL CO LTD
- BIONEER INC
- CHI FU TRADING CO LTD
- ELANC CHEMICAL CO LTD
*Domestic Customers*
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Major local customers include:
- Pharmaceutical manufacturers factories
- Wholesalers
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales to
pharmaceutical factory and wholesaler.
*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.
*Overseas Suppliers*
=================
Major overseas suppliers include:
(1)
Supplier's name : BASF HEALTH
& NUTRITION A/S
Country :
Product/material : Strong
Cetrimide Solution 40% BP
(2)
Supplier's name : COPRIMA SA
Country :
Product/material : Bezafibrate,
Nifuroxazide, Sucralfate, Metformin Hydrochloride, Acebutolol Hydrochloride,
Fenofibrate, Piracetam, Pipemidic Acid
Trihydrate, Piprinhydrinate
(3)
Supplier's name : BIOIBERICA
SA
Country :
Product/material : Sodium
Heparin, Heparinoid, Sodium Chondroitin Sulphate (Injectible Grade)
(4)
Supplier's name : JAGSONPAL
PHARMACEUTICALS LTD
Country :
Product/material : Tolnaftate
(5)
Supplier's name : CANADIAN
INOVATECH INC
Country :
Product/material : Lysozyme
Chloride
(6)
Supplier's name : IROPHARM LTD
Country :
Product/material :
Diphenylpyraline Hydrochloride, Piprinhydrinate, Clomipramine Hydrochloride
(7)
Supplier's name : VITAL
PHARMACAL PVT LTD
Country :
Product/material : Metformin
Hydrochloride
(8)
Supplier's name : SHIN POONG
PHARMACEUTICAL CO LTD
Country :
Product/material : Mebendazole
(9)
Supplier's name :
Country :
Product/material : Selegiline
Hydrochloride, Dothiepin Hydrochloride, Chlorprothixene Hydrochloride,
Mephennoxalone
(10)
Supplier's name : DABUR INDIA
LTD
Country :
Product/material : Ticlopidine
Hydrochloride, Ambroxol Hydrochloride
(11)
Supplier's name : APTE
AMALGAMATIONS LTD
Country :
Product/material :
Sulfamethoxazole
(12)
Supplier's name : NEW GENERIC
DRUG HOUSE LTD
Country :
Product/material : Tinidazole,
Dicyclomine Hydrochloride, Ibuprofen
(13)
Supplier's name : AMOIL
ORGANICS LTD
Country :
Product/material : Cetirizine
Dihydrochloride, Niflumic Acid
(14)
Supplier's name : AARTI DRUGS
LTD
Country :
Product/material : Tolnaftate
(15)
Supplier's name : FARCHEMIA
SPA
Country :
Product/material : Doxylamine
Succinate
(16)
Supplier's name : LAKE
CHEMICALS PVT LTD
Country :
Product/material : Terbutaline
Sulphate BP, Loperamide, Hydrochloride
(17)
Supplier's name : NIVEDITA
CHEMICALS PVT. LTD.
Country :
Product/material : Dexchlorpheniramine
Maleate, Brompheniramine Maleate
(18)
Supplier's name : HWAIL PHARM
CO LTD
Country :
Product/material : Ambroxol
Hydrochloride
(19)
Supplier's name : VASUDHA
PHARMA CHEM LTD
Country :
Product/material : Domperidone,
Cyproheptadine Hydrochloride, Loperamide Hydrochloride
(20)
Supplier's name : TRANSCHEM
LTD
Country :
Product/material : Mebendazole
(21)
Supplier's name : DANASHMAND
ORGANIC PVT LTD
Country :
Product/material : Metformin
Hydrochloride, Glipizide
(22)
Supplier's name : ALGRY
QUIMICA SL
Country :
Product/material : Choline
Bitartrate
(23)
Supplier's name : SHILPA
MEDICARE LTD
Country :
Product/material : Ambroxol
Hydrochloride
(24)
Supplier's name : SUPRIYA
CHEMICALS
Country :
Product/material :
Bropheniramine Maleate
(25)
Supplier's name : ELAM PHARMA
PVT LTD
Country :
Product/material : Mebendazole
(26)
Supplier's name : BAJAJ
HEALTHCARE LTD
Country :
Product/material : Choline
Bitartrate USP
(27)
Supplier's name : FLEMING
LABORATORIES LTD
Country :
Product/material : Buclizine
Hydrochloride
(28)
Supplier's name : PANJIN
XINGHAI PHARMACEUTICAL CO LTD
Country :
Product/material : Bismuth
Subnitrate
(29)
Supplier's name : NORTHEAST
GENERAL PHARMACEUTICAL FACTORY
Country :
Product/material : Sucralfate,
Piracetam
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name : ELANC CHEMICAL CO LTD
Address : 2Fl, 10-1, Alley 1, Lane 78, Chang An
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Importer
Industry : Medical Equipment & Pharmaceutical
PAYMENT RATING : 3 OBTAINED SCORES : 63
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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 SMALL
amounts depending on individual judgement experience.
As a private limited company with a paid-up capital of less than USD6
million, there is no legal requirement according to local corporate law for
public disclosure of detailed financials.
*Bank Details*
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Bank Name : CHINATRUST COMMERCIAL BANK LTD
Branch : Hsin-i Dist,
Branch Address : 14Fl
SWIFT Code : CTCBTWTP
Bank Name : JIH SUN INT'L COMMERCIAL BANK
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : JSIBTWTP
*Int´l Trade Activity (Currency:
=============================
Year Imports Exports Total
2004 $500,000.00 n/a $500,000.00
2005 $550,000.00 n/a $550,000.00
2006 $589,117.29 n/a $589,117.29
SC is considered small-sized in its line with a long operating
history. It is considered a credit line
up to USD20,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2800 Chemicals
and Allied Products
Importing 2833 Medicinals
and botanicals
Importing 2834 Pharmaceutical
preparations
Importing 2899 Chemical
preparations,
Importing 5047 Medical/Dental
Equip/Supplies
Trading 2834 Pharmaceutical
preparations
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2933 Heterocyclic
comp, nit hetero-atom; nucleic acids
Importing 2933390000 Compounds
containing an unfused pyridine ring (whether or not hydrogenated) in
the
structure
Importing 2933902000 Other
aromatic or modified aromatic pesticides with nitrogen hetero-atom(s) only
Importing 2937990000 Hormones
and their derivatives, steroids used primarily as hormones
Importing 2939500000 Theophylline
and aminophylline (theophylline ethylenediamine) and their
derivatives
Importing 2939900000 Vegetable
alkaloids, natural or reproduced by synthesis, their salts and other
derivatives
Importing 3000 Pharmaceutical
products
Importing 3001 Glands
etc dry & ext; heparin; hum etc subst
Importing 3507900000 Enzymes
and prepared enzymes
Importing 3800 Miscellaneous
chemical products
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Medicine raw
materials
Trader Enzymes
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
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. |
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%)