MIRA
INFORM REPORT
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Report Date : |
25.09.2007 |
IDENTIFICATION DETAILS
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Name : |
CHI MEI CORP |
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Registered Office : |
59-1 San Chia Tzu San Chia Village Jente Hsiang, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
January 11, 1960 |
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Com. Reg. No.: |
68387705 |
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Legal Form : |
Public Company |
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Line of Business : |
Research and development of technologies related to resins and plastic
products. Manufacturing of various types of ABS, SAN, PS, and other
plastic resins and materials. Selling to both domestic and
international markets. |
RATING & COMMENTS
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MIRA’s Rating : |
Aaa |
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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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Maximum Credit Limit : |
Up To USD 10,000,000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
CHI MEI CORP
59-1 SAN CHIA TZU SAN CHIA VILLAGE JENTE HSIANG
TEL : 886-6-2663000
FAX : 886-6-2665555
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 11, 1960
REGISTRATION NO. :
68387705
LEGAL FORM :
PUBLIC COMPANY
CHIEF EXECUTIVE :
MR. CHIN-HSIANG LIAO (CHAIRMAN)
STAFF STRENGTH :
1,697
CAPITAL :
US$ 591,430,296
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 68,078,851,000 (AS OF 2006)
EQUITIES :
NTD 71,178,555,000 (AS OF 2006)
PAYMENT :
EXCELLENT
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : GOOD
EXCHANGE RATE :
TWD 33.05200 = 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 –
*Company History*
===============
1950 -
Opened Chi Mei Store and sold children's clothes and items.
1953 -
Set up manufacturing plant.
1957 - Research staff started
experimenting with ways to manufacture Acrylic Sheets.
24 September, 1959 - Wen-Lung Hsu
was the founding president, and the industrial complex was built at Yen
Chen
20 February, 1960 - Hsu set
this date as the Founding Memorial Day of the CHI MEI INDUSTRIAL CO LTD.
June 1963 -
Started production of decorative plywood KIBI BOARD.
1964 -
Started production of buttons.
November 1965 - Set up a
joint venture with MITSUBISHI PETROCHEMICAL CO LTD and MITSUBISHI
INT'L established CHI LIN PLASTICS
INDUSTRIAL CO LTD.
July 1966 -
Started researching EPS production technique at the Yen Chen Plant.
January 1967 - Started
manufacturing MEGA Board.
20 January, 1968 - Set up
another joint venture, POLY CHEMICAL CO LTD, with MITSUBISHI
PETROCHEMICAL CORP. POLY CHEMICAL
manufactured POLYREX PS products.
August 1968 - Adopted
the CM logo of the CHI MEI Group.
September 1969 - POLY
CHEMICAL began manufacturing GPS (General Purpose Polystyrene) and HPS
(High Impact Polystyrene) resins.
September 1971 - Invested
in CHI MEI STORAGE CO LTD.
December 1971 - Invested
in CHI MEI FROZEN FOOD CO LTD.
8 March, 1973 - Signed a
contract with the Philippine corporation PMCI for its Whole Plant (PS)
Exportation
Contract.
December 1973 - Sales of
Polystyrene exceeded that of the Acrylic Sheets division and other divisions
for
the first time.
April 1974 -
Started the initial phase of researching ABS manufacturing technique.
July 1976 - The
POLY CHEMICAL CO was the first manufacturer in
granulate
with an output of 200 tons per month.
29 April, 1977 - Set up
the Chi Mei Culture Foundation to procure artworks.
April 1979 - Purchased
the site for the new Jen Te Industrial complex.
1 July, 1979 - Set
up the POLY ENGINEERING CO, the research and engineering division of the CHI
MEI Group.
1980 -
Produced Acrylic granulates.
January 1980 -
Developed AS manufacturing technique.
April 1980 - POLY
CHEMICAL Plant started production of PBL.
June 1980 -
Introduced PMMA granulates and PMMA sheet production technology.
1981 - Started manufacturing AS
resin.
March 1981 - Created
Department of Efficiency for the Acrylic division.
June 1981 - POLY
CHEMICAL started production of the 900 PSP. The first plant of continual bulk-
solution processing.
December 1981 - The first
line of the 500 AS at Poly Chemical Plant had a successful trial run.
April 1983 -
Completed the new ABS plant with a 1000 ton monthly output capability.
1985 - Started production of Acrylic
Extrusion Sheets.
1 January, 1985 - Merged
with POLY CHEMICAL CO LTD causing an increase in R&D, production, and
sales.
July 1986 -
Constructed an additional ABS plant with an annual output of 80, 000 tons.
October 1986 - Began the
PMMA solution processing.
17 April, 1987 -
Invested in the construction of ABS I plant with an annual output of 150,000
tons.
August 1987 - ABS I
plant started production and reached a total annual capacity of 350,000 tons.
14 August, 1987 - Chi Mei
Culture Foundation took over the management of
1988 - Chi
Mei Culture Foundation established the Chi Mei Scholarship for outstanding
musicians
and artists.
January 1988 - Ignited
the first furnace dealing with waste gas.
1 July, 1988 - Began
its policy of a 40 hour work week.
July 1988 - Set up
an Environmental Protection Department.
December 1988 - Yen Chen
plant stopped Acrylic Casting Sheet production.
February 1989 -
Established the Research and Development Department specializing in developing
new
processing technology.
18 October, 1989 - Introduced
Logistics and TPM concepts.
February 1990 - Chi Mei
Culture Foundation set up the Chi Mei Art Institution.
March 1990 - ABS II plant
with an annual output capability of 150,000 tons started production and
reached an annual output of 500,000 tons.
May 1990 - PMMA
Sheet of direct extrusion processing had a successful trial run.
February 1991 - PSP plant
with an annual output capacity of120,000 tons was completed in eight months.
December 1991 - Started
technical exchanges with MITSUBISHI PETROCHEMICAL CO LTD.
July 1992 -
Implemented CIM planning for the whole industrial complex.
March 1992 - Set up
its Patent Department.
May 1993 - Began
construction of the PSP II plant with an annual output capacity of 120,000
tons.
1995 -
Started production of TPE rubber with an annual output capacity of 50,000 tons.
September 1995 - Chi Mei
Culture Foundation set up the
1996 -
Invested in
June 1996 -
Implemented the TPM system for the industrial complex.
1997 -
Invested in the LCD Monitor / Electronic Industry.
- Began production of LBR.
- ABS production reached a total annual output of 1,000,000 tons.
24 June, 1997 - Invested
in the Color Filter Industry.
1998 -
Invested in the TFT-LCD (Thin Film Transistor-Liquid Crystal Display) and
established the
CHI MEI OPTOELECTRONICS CORP.
- Invested the in R&D and the manufacturing of special purpose
electronic chemicals .
- Invested in
4 February, 1998 - Set up CHI
MEI ELECTRONICS (CME).
6 August, 1998 - Set up
CHI MEI OPTOELECTRONICS CORP (CMO).
28 August, 1998 - CME signed
an official contract with the Japanese computer maker FUJITSU for
strategically alliance.
21 October, 1998 - Jen Teh
Industrial Plant started 25KCF installment and arched a monthly output of
25,000
unit of color filter.
17 December, 1998 - Jen Teh Industrial Plant started its first STN grade
C/F and held a product presentation.
1999 -
Invested and set up ARCH TECHNOLOGY INC to manufacture LCD monitors.
- CHIMEI-ASAHI CHEMICAL CO was set up under a joint venture with
ASAHI-KASEI CORP
of
29 January, 1999 - Jen Teh
Industrial Plant started its first lot production of 25KCF.
February 1999 - Started
mass production of SSBR rubber.
March 1999 - FUJITSU
of Japan approved and conferred with the TFT five layers mask R&D by CMO.
29 July, 1999 - CMO's
first engineering design of the 14.1" TFT-LCD panel successfully passed
its testing
parameters.
December 1999 - Began mass
production of the 14.1" panel. The first shipment was 3000 units.
2000 - Put
SBR into production.
January 2000 - Researched
and developed Q Resin successfully.
April 2000 - CHI
MEI ELECTRONICS merged with CMO to form CHI MEI OPTOELECTRONICS.
June 2000 - Output
reached 60,000 units and met its goal of reaching the financial break-even point.
2001 - CHI
MEI Group set up joint venture with IBM in the INTERNATIONAL DISPLAY
TECHNOLOGY LTD.
February 2001 -
Established CHI MEI COMMUNICATION manufacturing and technology team.
March 2001 - R&D
department developed the super wide viewing angle MVA
June 2001 -
Successfully researched and developed the TN LCD with a response rate less than
15
msec and with a super wide viewing angle.
July 2001 -
Successfully researched and developed the gray level acceleration driving
circuit, which
made response speed less than
August 2001 - Merged
the Yasu Industrial Complex of
September 2001 - Completed
the development of an ultra high resolution, super wide viewing angle, and high
width.
October 2001 - CHI MEI
Group withdrew its investment from ARCH TECHNOLOGY INC and sold to
POUC.
26 August, 2002 -
Successfully developed the first 30 inch, non-jointed TFT-LCD TV Panel.
-
CHI MEI OPTOELECTRONICS completed its IPO on the Taiwan Stock Exchange. CMO
is the first listed company within the CHI MEI Group.
31 December, 2002 - Sales
outperformed all over divisions in the Group.
2003 - CHI
MEI OPTOELECTRONICS successfully attained approval status from DELL
COMPUTER's QSA Audit.
June 2004 - Denied
the report that it planned to close a plastic plant in
government issues a ban
on river shipments of a key raw materials
*Company Name*
==============
Incorporated as : CHI MEI
INDUSTRIAL CO LTD
Year established : 1960
Changed name to : CHI MEI CORP
Date of change : November
1992
*Capital Details*
=============
Initial registered capital : NTD 2,000,000
Capital increases / decreases as follows :
Date
Increase / Decrease (NTD)
------
-----------------------------------
August 2004
15,600,000,000
-
19,600,000,000
-
17,200,000,000
-
19,600,000,000
Initial paid-up capital : N/A
Paid-up capital increases as follows :
Date
Amount (NTD)
------
--------------------
--
16,912,000,000
-- 17,924,000,000
*Licenses & Permits*
================
(1)
License number : 9965652302
Date issued : 17 March,
1983
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 9967314400
Date issued : 1 December,
1969
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
===============
Size :
171,750 square meter( Approx)
Location :
Type of building : Industrial
building
Property status : Owned by CHI
MEI CORP
Comments : Serves as office and factory
Other Contact Details:
-----------------------------
Tel no. : 6-2665000 Ext.
1372
Fax no. : 6-2665556-7
Website : www.cmo.com.tw
Previous Contact Details
-----------------------------------
Address :
Tel No. :
6-2791111
Email address :
david@mail.chimei.com.tw
cmc@mail.chimei.com.tw
*Factories, Size & Locations*
======================
Size : 6,300
square meter (Approx)
Location :
Type of building : Industrial
building
Property status : Owned by CHI
MEI CORP
*Corporate & Organization Structure*
===========================
A large-sized company operated and managed by an experienced team of
professionals.
*Industry Ranking*
================
Generally regarded as one of the Top 1000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------- ---------
2004 35
2005 10
2006 9
*Sales Ranking*
=============
Details of rank are as follows :
Year Rank
------- ---------
1996 17
1997 21
1998 27
2000 27
2001 31
2002 32
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Auditors*
=========
KPMG
Web
site: www.chimeicorp.com The design is
professional and the content is well organized. At present it is both in
Chinese and English versions.
E-mail: service@mail.chimei.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
================
Shareholders' Name No.
of Shares
-------------------------- --------------------
TAI-CHI INVESTMENT CO LTD 259,621,636
MITSUBISHI CHEMICAL CORP 142,318,530
Mr. Kuang-fu Sung
23,920,584
Mrs. Hsiu-mei Chao Liao 3,426,922
Management: Ms. Shu-wa Chuang,
Manager
Mr. Yi-neng Kao, Manager
Mr. Chin-tsun Ko, Assist. General Manager
Name Nationality
Job Description Dept. / Division
Ms. Shu-wa Chuang Taiwanese
Manager Account
Mr. Yi-neng Kao Taiwanese
Manager Finance
Mr. Chin-tsun Ko Taiwanese
Assist. General Manager -
Mr. Wen-feng Kuo Taiwanese
Assist. General Manager -
Mr. Tang-jung Wang Taiwanese
Assist. Manager -
Mr. Wen-long Hsu Taiwanese
Chairman -
Mr. Chao-yang Ho Taiwanese
General Manager -
Mr. Chin-yuan Chen Taiwanese
General Manager -
Mr. Jau-yang Ho Taiwanese President -
Mr. Man-chu Shih Taiwanese Secretary -
Mr. Cheng-shan Lin Taiwanese
Vice General Manager -
Mr. Ching-sheng Lin Taiwanese
Vice General Manager -
Mr. Chun-ping Chen Taiwanese
Vice General Manager -
Mr. Chung-tsun Yen Taiwanese
Vice General Manager -
Mr. Kuang-chung Chien Taiwanese Vice General Manager -
Mr. Ting-chen Hsu Taiwanese
Vice General Manager -
Mr. Tse-hsiang Chen Taiwanese
Vice General Manager -
Mr. Yi-pan Liang Taiwanese
Vice General Manager -
Ms. Chun-hua Hsu Taiwanese
Vice General Manager -
*Key Personnel*
==============
(1)
Mr. Chin-hsiang Liao
Founder : Co-founder
Work experience : More than 15 years experience.
Responsibilities : Handles the daily operation of the firm
including all financials, sales and legal matters.
Resident status :
Other positions : Chairman of
the following companies:
- CHI MEI LIGHTING TECHNOLOGY CORP
- CHI MEI OPTOELECTRONICS CORP
(2)
Mr. Wen-lung Shi
Founder : Co-founder
Year of birth : 1928
Work experience : More than 40 years
Responsibilities : Daily
operation of the firm including all financial and legal matters.
Resident status :
Award : June 1999,
was honored with The Fourth Nikkei Asian Prize by NIHON KAIZAI SHIMBUN
INC.
(3)
Ms. Chun-hua Hsu
Tel no. : 6-2663000 Ext. 1300
*Main Products & Services*
====================
Specializes in the following areas of work:
1. Research and development of technologies related to resins and
plastic products.
2. Manufacturing of various types of ABS, SAN, PS, and other
plastic resins and materials.
3. Selling to both domestic and
international markets.
Products: ABS copolymers
ABS resin
ABS resin plastic
materials
AES resins
AS resins
*Brand*
======
ACRYPOLY
ACRYPOLY-BX
ACRYREX
CHI MEI
CM
KIBI BOARD
KIBISAN
KIBITON
MEGA Board
POLYLAC
POLYREX
*Payment Terms*
=============
Sales
--------
Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
--------------
Local : Cash or Credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Quality Certification*
==================
Obtained the following certifications :
(1)
Type of certification : ISO 14001
Date of certification : 4 June,
1999
Details : Received
the ISO14001 for Environmental Protection Standards.
(2)
Type of certification : ISO 9001
Dates of certification : December 1993 and 2001
(3)
Type of certification : ISO 9002
Dates of certification : December
1993 and 2001
*Detailed Product Specifications*
==========================
(1)
Item : ABS resin
Applications : TV front shell / printer housing / telephone shell /
cosmetic case / tyre cover / kitchen appliance / acoustic equipment / toilet
cover / washer / vacuum cleaner shell / tool handle accessories /
electroplating decorations, accessories and buttons / acoustic equipment panel
/ tyre cover / spectacles frame / clock shell and automobile appliances /
helmet / motor guard / high-heeled shoe sole / snow field sport ware / water
carrier accessories / front cover and guard cover for automobile / motor guard
/ extrusion piping / floppy disk shell / excellent flow ability, suitable for
thin or complicated products etc.
(2)
Item : SAN resin
Applications : home appliance / transparent container / cosmetic case /
fruit and vegetables case / exterior of ball-point pen / the transparent board
of electronic appliance / cassette case / electric fan blade /toothbrush handle
/ battery case / lighter and the other transparent appliance for high impact
strength requirement
(3)
Item : PS resin
Applications : TPE improver, it can increase the hardness of molded
products / artistic light's cover /transparent food container / cassette case /
food plastic package / used in high impact strength products, ex: household
appliance / stationery / TV case / radio case / TV shell / washer hull and the
other products need excellent surface gloss / keyboard / printer housing and
heating mechanical accessories
(4)
Item : Acrylic resin
Applications : indicator housing of motor and automobile / sunglass /
electronic watch shell / electronic transparent board / video surface sheet /
suitable for thin or complicated products
(5)
Item : Acrylic sheet
Applications : Advertisement board / garage roof
(6)
Item : PC resin
Applications : Optical disc / baby bottle / indicator light housing /
computer mouse / chocolate container / high-heeled shoe sole / safety lens /
thin wall and complicated products
(7)
Item : TPE
Applications : Asphalt improver /
coherence agent / shoe sole / industry appliance / pavement / transparency or
light (foam) shoe sole
(8)
Item : Q resin
Applications : Sport appliance / stationery / package sheet / / tool
case / hanger / apply widely to appliances, office accessories, displays,
goggles boxes, toys, clothes hangers and consumer electronics
(9)
Item : BR
Application : The impact
improver of GPPS.
(10)
Item : SSBR
Application : Used in rubber
improver, it can apply to high-heeled shoe sole and glue shoe sole.
(11)
Item : Electronic
chemical
Application : Manufacture of
color filter - the color demonstration, negative photo-resist develop, positive
photo-resist develop, edge bead remover by negative photo-resist, ITO film etching, Cr film etching.
(12)
Item : Optical PMMA
sheet
Application : Diffuser / back
light set / scanner
(13)
Item : MS resin
Applications : Optical elements / toys / lamp cover, the accessories of
lamp / OA parts / food container/household appliance / building materials
*Patents*
========
(1)
Date of registration : 1 March, 1971
Details :
Granted it first patent for its invention of the Door/Window Materials and
Manufacturing
Method.
(2)
Date of registration : 1 February, 1994
Details :
Received its first
*Awards*
========
Received the following awards :
(1)
Award : Excellent
Manufacturer in Reducing Industrial Waste
Date : June 1991
(2)
Award : Outstanding
Environmental Protection Performances and the first Industrial EP Award
Date : March 1993
(3)
Award : Japanese TPM
Award
Date : 9 November,
2000
*Production Capacity*
==================
Item 2004
Current Capacity (M/T) 2003
Current Capacity (M/T)
------ -------------------------------------- ------------------------------
ABS resin
680,623
649,050
AS resin 58,989
56,492
High consistency ABIS resin 22,494
20,292
Thermoplastic Rubber, TPR
47,720
49,470
Synthetic rubber 25,410
20,524
Acrylic pellet
52,144 63,682
Acrylic board
21,359
9,053
*Exhibition Participation*
===================
Participated in the following local exhibitions :
(1)
Exhibition fair : The 2003
Taipei Int'l Computer Show (COMPUTEX TAIPEI 2003)
Dates attended : 2-6 June, 2003
Location :
(2)
Exhibition fair :
Dates attended : 18-21 March, 2004
Location :
*Competitors*
===========
The following locally based companies supply similar range of products :
- BENQ CORP
- TATUNG CO
- VIEWSONIC INT'L CORP
- AOPEN INC
- HELIX TECHNOLOGY INC
- KENMOS TECHNOLOGY CO LTD
- ADI CORP
- ALBATRON TECHNOLOGY CO LTD
- CORETRONIC CORP
- USI CORP
- FORMOSA PLASTICS CORP
- ORIENTAL UNION CHEMICAL CORP
- ASIA POLYMER CORP
- DING-ZING CHEMICAL PRODUCTS CO LTD
*Deal Making*
===========
Date of deal : 2 October,
1999
Nature of deal : Long-term
Contract Signing
Parties involved : DELL COMPUTER
Details : CHI MEI signed
a long-term contract with DELL COMPUTER for a strategic alliance.
*Domestic Raw Material Suppliers*
===========================
Major local suppliers include :
(1)
Supplier's name : TAIWAN
STYRENE MONOMER CORP
Material/components : Styrene
(2)
Supplier's name : CHINESE
PETROLEUM CORP
Material/components : Butadiene
(3)
Supplier's name : FORMOSA
PETROCHEMICAL CORP
Material/components : Propylene
(4)
Supplier's name : TSRC CORP
Material/components : Butadiene rubber
(5)
Supplier's name : KAOHSIUNG
MONOMER CO LTD
Material/components : Methacrylate ester
(6)
Supplier's name : URANUS
CHEMICALS CO LTD
Material/components : Oxalic acid
(7)
Supplier's name : MERCK
ELECTRONIC CHEMICALS LTD
Material/components : N-Butyl acetate
(8)
Supplier's name : CHUNG TAI
CHEMICALS CO LTD
Material/components : Propylene glyool
(9)
Supplier's name : MINDMAN
INDUSTRIAL CO LTD
*Domestic Customers*
==================
Major local customers include :
(1)
Customer's name : JIN CHYI
INDUSTRIAL MFG CO LTD
Product buying :
Plastic resin
(2)
Customer's name : CHAN DEA
INDUSTRIAL CO LTD
Product buying : ABS,
HIPS, PP Plastic
(3)
Customer's name : YEOU CHENG
ENTERPRISE CO LTD
Product buying :
Polystyrene acrylic
Average Annual Sales : NTD
900,000.00
(4)
Customer's name : WAFFER
PLASTICS INDUSTRIAL CO LTD
(5)
Customer's name : MIN
CHYUAN PLASTIC CO LTD
(6)
Customer's name : MEYER
(TAIWAN) MFG CO LTD
(7)
Customer's name : KUANG
CHI INDUSTRIAL CORP LTD
(8)
Customer's name : GILLET
METAL WORKS LTD
(9)
Customer's name : DELTA
ELECTRONICS INC
Product buying :
Plastic Components
(10)
Customer's name : WGJ CO
LTD
Product buying :
Plastic chemicals
*Local Distribution Network*
======================
Approximately 25% of the annual turnover is attributed to local
sales.
*International Trade Activity*
========================
January 1963 - Started
exporting Acrylic Sheets.
2 June, 1997 - Exported
products through An Ping Port, which greatly reduced costs.
*Export Markets*
==============
Approximately 75% of the products are for export. Details of export as
follows :
Product/Materials
Country/Region % of
Export
--------------------------
-----------------------
----------------
ABS Resin Plastic Material
Polystyrene (PS)
*International Trade Ranking*
========================
The firm has been ranked among
Details of ranked are as follows :
Year Rank
------- ---------
1997 13
2001 21
2002 23
2003 16
2004 17
2005 17
*LOCAL BRANCHES & MANAGEMENT*
=================================
Branch : CHI MEI CORP -
Branch Address : 12 Lu Shun Rd Section 2 Peitun Dist,
Branch Tel : [+886] 4-22440803
Branch Fax : [+886] 4-22446469
Branch : CHI MEI CORP -
Branch Address :
Branch Tel : [+886] 4-23022255
Branch Fax : [+886] 4-23016161
Branch Employees : 29
Branch : CHI MEI CORP -
Branch Address : 8Fl,
Branch Tel : [+886] 2-23148841
Branch Fax : [+886] 2-23618800
Branch Employees : 33
Branch Management
Name Job Description Nationality
Mr. Ming-kai Chang Executive Manager Taiwanese
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name : ALPHA HERITAGE INVESTMENTS LTD
Address : Offshore Incorporation's
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : CHI LIN TECHNOLOGY CO LTD
Address :
Country :
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Manufacturer
Industry : Plastics & Products
Company Name : CHI MEI (SHEN ZHEN) CORP
Address : Rm
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : CHI MEI EL CORP
Address : Rm A-F03-01,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : CHI MEI FINE ART LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Giftware & Jewellery
Company Name : CHI MEI LIGHTING TECHNOLOGY CORP
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : CHI MEI MATERIALS (
Address : Offshore Chambers
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : CHI MEI MATERIALS TECHNOLOGY CORP
Address : 13,
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : CHI MEI OPTOELECTRONICS CORP
Address : Southern Taiwan Science Park
Country :
Relationship : Minor Investments
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : CHI MEI STORAGE CO LTD
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Materials Handling
Company Name : CHIMEI-ASAHI CORP
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : FINEX CO LTD
Address : Southern Taiwan Science Park
Country :
Relationship : Minor Investments
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : GIO OPTOELECTRONICS CORP
Address : 3Fl-11, 133,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : GODYNAMIC TECHNOLOGY LTD
Address : Offshore Incorporation's
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : KEYWAY INVESTMENT MANAGEMENT LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : KUN SHAN CHI MEI ELECTRONIC LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : LANDMARK INT'L LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : LEADTEK GLOBAL GROUP LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : LIEN CHI DEVELOPMENT LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : LIN TAI TECHNOLOGY CO LTD
Address : 3Fl, 15, Lane 548,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : LUCKY EIGHT LTD
Address : Equity Trust Chambers
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name :
Address : Jupiterstraat 106 Hoofddorp 2132HE
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name :
Address : Jupiterstraat 106 Pluspoint II Hoofddorp 2132HE
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electrical Equipment & Appliances
Company Name : NEXGEN MEDIATECH INC
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electrical Equipment & Appliances
Company Name : NEXGEN MEDIATECH USA INC
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electrical Equipment & Appliances
Company Name : POLY CHEMICAL ENGINEERING CO LTD
Address : 59-1 San Chia Tze San Chia Village Jente Hsiang 717
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : POLY INTRA ENTERPRISE CO LTD
Address : 1Fl, 1, Lane 218,
Country :
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : POWERKING OPTOELECTRONICS CO LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name :
Address : German Centre 25
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : TELEEAGLE INT'L LTD
Address : Offshore Incorporation's
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : TOPSUN OPTRONICS INC
Address : 4Fl-1, 192,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : TRANSMINT PRECISIONS CO LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : YUAN CHI INVESTMENT CORP
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : ZHENHIANG CHIMEI RESIN CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : ZHENHIANG CHIMEI TANK TERMINDAL CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : ZHENJIANG CHIMEI CHEMICAL CO LTD
Address : Dagang Development Zone
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : ZHENJIANG CHIMEI PLASTICS CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Plastics & Products
*Strategic Partners & Alliances*
=========================
Group name : CHI MEI Group
Members : Petro-Chemical
Industry
-----------------------------------
-
CHIMEI-ASAHI CORP
- CHI
LIN TECHNOLOGY CO LTD
-
ZHENJIANG CHIMEI RESIN CO LTD
- ZHENJIANG CHIMEI CHEMICAL CO LTD
-
ZHENJIANG CHIMEI PLASTICS CO LTD
: IT Industry
----------------
- CHI
MEI OPTOELECTRONICS CORP (CMO)
- INTERNATIONAL DISPLAY TECHNOLOGY
LTD (IDT)
- CHI
MEI COMMUNICATION SYSTEMS INC (CMCS)
-
NEXGEN MEDIATECH INC
: Trading
and Logistics
------------------------------
- CHI
MEI TRADING CO LTD
-
ZHENJIANG CHIMEI TANK TERMINAL CO LTD
-
SHINKO TRADING CO LTD
- CHI
MEI STORAGE CO LTD
- CHI MEI LOGISTICS CORP
:
Construction
-------------------
- POLY
CHEMICAL ENGINEERING CO LTD
-
FULINTEC SCIENCE ENGINEERING CO LTD
: Non-Profit
---------------
- CHI
MEI CULTURAL FOUNDATION
- CHI
MEI FINE ART LTD
-
-
: Food
--------
- CHI
MEI FROZEN FOOD CO LTD
*OVERSEAS AGENTS AND DISTRIBUTORS*
====================================
Agent : JUSTUS KIMIARAYA PT
Country of Origin :
Product Description : Chemicals
Brand : Chi Mei
Year : 1980
Agent : BRENNTAG SPA
Country of Origin :
Product Description : Chemical products
Brand : CHI MEI
Year : 2000
Agent : HUNT AGENCIES LTD
Country of Origin :
Product Description : Acrylic
Brand : Acryrex
Year : 2003
Agent : HUNT AGENCIES LTD
Country of Origin :
Product Description : Polystyrene
Brand : Polyrex
Year : 2003
Agent : HUNT AGENCIES LTD
Country of Origin :
Product Description : Acrylonitrile
Brand : Polylac
Year : 2003
Agent : HUNT AGENCIES LTD
Country of Origin :
Product Description : Acrylonitrile styrene
Brand : Kibisan
Year : 2003
Agent : HUNT AGENCIES LTD
Country of Origin :
Product Description : Thermoplastic elastomer
Brand : Kibiton
Year : 2003
Agent : HUNT AGENCIES LTD
Country of Origin :
Product Description : Styrene butadiene
Brand : Kibiton
Year : 2003
PAYMENT RATING : 1 OBTAINED SCORES : 85
|
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 LARGE
amounts depending on individual judgement experience.
*Bank Details*
===========
Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist,
Branch Address :
SWIFT Code : CCBCTWTP
Bank Name : CHIAO TUNG BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKCMTWTP
Bank Name : FUBON COMMERCIAL BANK
Branch : Ta-an Dist,
Branch Address : 2Fl B1 Fubon Banking Center 169 Jen Ai Rd Section 4
Ta-an Dist Taipei City 106 (Head Office)
SWIFT Code : This bank does not have a SWIFT Code
Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : HNBKTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : ICBCTWTP
*Financial History*
===============
31 December, 2002 - Sales for
the CHI MEI Group broke NTD 100 billion.
Balance Sheet
Currency : NTD
Denomination : in Thousands
2002 2003 2004 2005 2006
-----------
----------- ----------- ----------- -----------
Current assets 9,293,163 15,797,414 16,173,265 16,268,777 18,898,126
Funds & long-term investments 22,204,282 32,559,652 39,646,566 60,989,290 80,888,922
Property 10,196,717 9,818,661 10,016,590 9,344,478 9,881,258
Intangible assets
-- 194,740 106,025 178,854 161,269
Other assets
3,643,177 3,695,658 3,618,224 4,263,200 3,787,186
Total assets
45,417,540 62,147,930 69,639,553 91,123,515 113,695,724
Current liabilities (before) before 6,435,906 11,580,093 11,973,539 12,594,257 12,745,821
(after) after
7,606,479 13,141,279 13,614,582 14,594,108 --
Long-term liabilities
6,700,397 5,476,992 3,502,210 5,835,470 29,069,269
Other liabilities
354,431 490,521 419,617 550,348 702,079
Total liabilities (before) before 13,490,734 117,547,606 15,895,366 18,980,075 42,517,169
(after) after
14,661,307 19,108,792 17,536,409 20,979,926 --
Common stock
14,100,000 15,000,000 15,600,000 16,912,000 17,200,000
Capital reserve 187,004
5,215,828 5,065,846 17,147,825 9,123,331
Retained earnings (before) before 17,582,609 24,235,460 33,048,186 38,179,964 43,998,826
(after) after 15,512,036 22,074,274 31,095,143 35,892,113 --
Income Statement
Currency : NTD
Denomination : in Thousands
2002 2003 2004 2005 2006
-----------
----------- ----------- ----------- -----------
Operating revenue
36,020,664 44,164,304 58,830,544 66,464,074 68,078,851
Gross profit
5,647,783 5,136,891 7,851,434 6,225,460 9,171,922
Operating income
3,523,212 3,096,227 4,937,506 3,038,407 5,498,656
Non-operating income 3,158,439 6,920,258 8,276,450 5,779,832 5,767,294
Non-operating expense 340,249 465,708 658,854 598,072 824,501
Net income
5,242,069 8,736,905 10,961,668 7,093,782 8,828,565
Earnings (losses) per share (after) 3.49 5.60 6.89 4.17 --
*Financial Ratios*
===============
2002 2003 2004 2005 2006
-----------
----------- ----------- ----------- -----------
Financial analysis
Ratio of liabilities to assets % 29.70 28.29 22.83 20.83 37.4
Ratio of long-term capital to fixed assets% 337.69 507.51 571.52 834.49 1014.52
Current ratio%
144.40 136.96 135.08 129.18 148.27
Quick ratio% 76.17 89.63 56.00 74.58 88.16
Interest coverage
30.18 33.32 60.09 26.48 25.33
Turnover of receivable (times) 19.90 18.15 22.25 24.50 23.8
Average collection period of receivable 18 20 16.40 15 15
Turnover of inventories (times) 7.68 8.17 6.87 7.60 8.59
Average days of sales 48 45 53 49 43
Turnover of fixed assets (times) 3.15 4.48 5.87 7.11 6.89
Turnover of total assets (times) 0.79 0.71 0.84 0.73 0.6
Return on total assets% 12.97 16.60 16.88 9.13 8.94
Return on shareholder's equity% 17.45 22.83 22.29 11.27 12.32
Operating income
24.99 20.64 31.65 17.97 31.97
Net income before tax 44.97 63.67 80.48 48.61 60.71
Profit margin%
14.55 19.87 18.63 10.67 12.97
Retroactive
3.36 5.60 6.89 4.17 5.22
Cash flows ratio% 71.87 (4.86) 40.65 64.59 50.06
Cash flows adequacy% 190.28 118.82 95.97 114.11 117.05
Cash reinvestment ratio%
5.54 (2.39) 4.26 6.56 3.60
Degree of operating leverage 2.35 2.53 1.97 3.01 1.84
Degree of financial leverage 1.07 1.09 1.04 1.12 1.08
*Int´l Trade Activity (Currency:
==============================
Year Imports Exports Total
2004 $740,451,127.82 $1,254,436,090.23 $1,994,887,218.05
2005 $882,780,410.74 $1,513,428,120.06 $2,396,208,530.80
2006 $890,870,616.69 $1,578,597,339.78 $2,469,467,956.47
*Financial Summary (Currency:
=============================
Year Sales Assets Net Income
1998 $1,014,035,400.00 $998,348,600.00 $67,950,166.67
1999 $956,031,937.50 $1,092,902,312.50 $91,264,843.75
2000 $1,242,066,749.61 $1,227,624,758.94 $124,409,051.32
2001 $924,950,116.08 $1,101,481,717.93 $3,844,805.57
2002 $1,035,374,073.01 $1,305,476,861.17 $150,677,464.79
2003 $1,273,480,507.50 $1,792,039,504.04 $251,929,209.92
2004 $1,769,339,669.17 $2,094,422,646.62 $329,674,225.56
2005 $2,099,970,742.50 $2,879,100,000.00 $224,132,132.70
2006 $2,058,006,378.48 $3,436,992,865.78 $266,885,278.11
Over the past 47 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
Exporting 3069 Fabricated
rubber products,
Exporting 3564 Fans
and blowers, except household type; dust collection and air purification
equipment; and
parts,
Exporting 3661 Telephone
and telegraph apparatus, and parts,
Exporting 5065 Electronic
Parts/Equip, NEC
Importing 2621 Paper
mill products
Importing 2655 Fiber
cans, tubes, bobbins, drums, and similar products
Importing 2679 Converted
paper products,
Importing 2796 Printing
type, blocks, plates and other printing components; cylinders and
lithographic
stones, prepared for printing purposes
Importing 2816 Inorganic
pigments
Importing 2819 Industrial
inorganic chemicals,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2905490000 Acyclic
polyhydric alcohols not elsewhere specified or included
Exporting 3903190000 Polystyrene,
Exporting 3903200000 Styrene-acrylonitrile
(san) copolymers
Exporting 3906100000 Polymethyl
methacrylate
Exporting 3907400000 Polycarbonates
Exporting 3920510000 Plates,
sheets, film, etc, noncellular, not reinforced,laminated,combined, of
polymethyl
methacrylate
Exporting 4002110000 Latex
of styrene-butadiene rubber (sbr); carboxylated styrene-butadiene rubber
(xsbr)
Exporting 4002190000 Styrene-butadiene
rubber (sbr); carboxylated styrene-butadiene rubber (xsbr),
except
latex nesot
Exporting 4002200000 Butadiene
rubber (br)
Exporting 8414596095 Fans
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Fans
Exporter Telephone
parts
Exporter Indicator
panel
Exporter Mechanical
seals
Exporter Butadiene
rubber
Exporter Latex
Exporter Plastic
plates
Exporter Polycarbonate
Importer Antimony
oxide
Importer Bisphenol -
A
INTERNATIONAL TRADE : ACTIVITY & MARKETS
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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%)