MIRA
INFORM REPORT
|
Report Date : |
07.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SUNSTAR CHEM & PHARM CORP |
|
|
|
|
Registered Office : |
2FL, 112-2 Chung Cheng Rd
Hsinying City Tainan Hsien 730 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
16.12.1989 |
|
|
|
|
Com. Reg. No.: |
23562024 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Local purchasing and importing various types of pharmaceuticals. Sales and distribution of purchased products to domestic and
international markets |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 50,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name & address
SUNSTAR
CHEM & PHARM CORP
2FL, 112-2 CHUNG CHENG RD
HSINYING CITY TAINAN HSIEN 730, TAIWAN
TEL: 886-6-6362898 FAX: 886-6-6326335
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 16, 1989
REGISTRATION NO. :
23562024
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. ROCK JUNG-DI WU (GENERAL MANAGER)
STAFF STRENGTH :
6
CAPITAL :
US$ 165,837
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 50,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.40150 = 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
*Office & Facilities*
===============
Size : 117 sq. meter (Approx)
Location : Tainan Hsien
Property status : Rented
Type of building : Residential
district
Comment : Serves as office and warehouse.
Previous address : 319 Kai Yuan Rd Hsinying City Tainan Hsien
Taiwan
*Factories, Size & Locations*
======================
The company is a trading house and maintains no manufacturing
facilities.
*Corporate & Organization Structure*
===========================
A small sized 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.
Web
site: www.sun-pharm.com
the design is professional and the content is well organized. At present it is
in English versions.
E-mail: sscpc@ms2.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 4
Total number of shares: 347,500
Shareholders Country
Number Amount %
--------------------- ---------- ------------ ------------- ------ -------
YING SHENG Taiwan 235,000.00 n/a 67.63
INVOTE CO LTD
Mr. Li-jen Chen Taiwan 50,000.00 n/a
14.39
Mr. Rock Jung-di Wu Taiwan 37,500.00 n/a 10.79
Mr. Jung-ming Ho Taiwan 25,000.00 n/a 7.19
Management: Mr. Jung-ming Ho,
Representative
Mr.
Rock Jung-di Wu, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Jung-ming Ho Taiwanese
Representative Sales
Mr. Rock Jung-di Wu Taiwanese General Manager -
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Local purchasing and importing various types of pharmaceuticals.
2. Sales and distribution of purchased products to domestic and
international markets.
Products: Antibiotics
Drugs
Drugs &
pharmaceuticals
Health foods
Medicaments
*Payment Terms*
=============
Sales
------
Local : Cash
30-90 days
credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchase
-------------
Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Competitors*
===========
The following locally based firms supply similar range of products :
- SERVIER (S) PTE LTD
- U-LI DRUG CO LTD
- SAN CHENG TRADING CO.
- ZUELLIG PHARMA INC
- AVENTIS PHARMA CO LTD
*Domestic Customers*
=================
Major local customers include:
- Large hospitals
- Clinics
- Dispensary
- Vets
*Local Distribution Network*
=======================
An estimated 70% of the annual turnover is attributed to local
sales.
*Export Markets*
==============
An estimated 30% of the annual turnover is attributed to export.
Note : At the time of performing this report, the 2007 export figures
has not yet been released by the Ministry of Economic Affairs which monitors
exports and imports.
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name : SYN-TECH
CHEM & PHARM CO LTD
Address :
168 Kai Yuan Rd Hsinying City 730 Tainan Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Public Company
Company Type :
Manufacturer
Industry :
Medical Equipment & Pharmaceutical
*Strategic Partners & Alliances*
=========================
Group name : STANDARD
PHARMACEUTICAL GROUP
Members : API's
---------
- CNH
TECHNOLOGIES INC, USA
-
SYN-TECH CHEM & PHARM CO LTD, Taiwan
-
SYNGEN BIOTECH CORP, USA
Sales & Marketing
---------------------------
-
BOSCOGEN INC, USA
- DAZEN
PHARMA, China
- SUN
STAR CHEM PHARMA CO LTD
- ALL CARE ENTERPRISE LTD
-
ENSAFE INDUSTRIAL CORP
Product
Development/Manufacturing
--------------------------------------------------
-
BIOTEX LABS, USA
-
STASON PHARMACEUTICALS INC, USA
-
INTERACTIVE MEDICAL TECHNOLOGIES, USA
-
PHARMATECH DEVELOPMENT, Japan
-
STANDARD CHEM & PHARMA CO LTD
- ADVPHARMA CORP
-
KAOHSIUNG BIOLOGICAL PRODUCTS CO LTD
Services
-------------
-
INFORIGHT TECHNOLOGY CORP
PAYMENT RATING : 3 OBTAINED SCORES :
57
|
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 SMALL
amounts depending on individual judgement experience.
As a private limited company with a paid-up capital of less than USD 6
million, there is no legal requirement according to local corporate law for
public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*Bank Details*
===========
Bank Name : CHANG
HWA COMMERCIAL BANK LTD
Branch :
Central Dist, Taichung City
Branch Address : 38 Tzu
Yu Rd Section 2 Central Dist Taichung City 400 (Head Office)
SWIFT Code CCBCTWTP
Bank Name : HUA
NAN COMMERCIAL BANK LTD
Branch :
Chungcheng Dist, Taipei City
Branch Address : Chung
Shan Chiyi
SWIFT Code :
HNBKTWTP
Bank Name : MEGA
INT'L COMMERCIAL BANK CO LTD
Branch :
Chungcheng Dist, Taipei City
Branch Address : 123
Jhongsiao E Rd Section 2 Chungcheng Dist Taipei City 100 (Head Office)
SWIFT Code :
ICBCTWTP
*Financial Summary (Currency: U.S. $'s)
=============================
Year Sales Net Income
2006 $5,471,584.04 $259,975.82
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2004 $1,236,540.99 $421,364.99 $1,657,905.98
2005 $1,965,741.99 $636,874.00 $2,602,615.99
2006 $1,675,131.98 $489,653.99 $2,164,785.97
SC is considered small-sized in its line with a long history. Taking
into consideration of SC’s general performance, a credit line up to USD 50,000
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
Trading 2833 Medicinals
and botanicals
Trading 2834 Pharmaceutical
preparations
Trading 5122 Drugs/Druggists'
Sundries
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2939 Veg
alkaloids, nat or synth & salts, ethers etc.
Exporting 3003 Medicaments
nesoi of mixtures, not dosage etc form
Importing 2914 Ketones
& quinones & halogenatd, sulfonatd der etc
Importing 2918 Carboxylic
acid, added oxygen & anhy etc, hal etc
Importing 2921 Amine-function
compounds
Importing 2933 Heterocyclic
comp, nit hetero-atom; nucleic acids
Importing 2935 Sulfonamides
Importing 2941 Antibiotics
Trading 2934 Heterocyclic
compounds
Trading 2934302700 Other
drugs,nesoi
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Pharmaceutical
Trader Drugs
Trader Medicines
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Egypt
Exporting to Europe
Exporting to Finland
Exporting to Guatemala
Exporting to Hong Kong
Exporting to Japan
Exporting to Malaysia
Exporting to Middle East
Exporting to North America
Exporting to Switzerland
Exporting to USA
Importing from Asia
Importing from China
Importing from Europe
Importing from India
Importing from Italy
Importing from North America
Importing from Singapore
Importing from Spain
Importing from Switzerland
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%)