MIRA
INFORM REPORT
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Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
HSIN-KUO PLASTIC INDUSTRIAL CO LTD |
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Registered Office : |
320 Yuan Lu Rd Section 3 Pu Hsin Tsun Puhsin Hsiang Changhwa Hsien 513 |
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Country : |
Taiwan |
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Date of Incorporation : |
11.11.1975 |
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Com. Reg. No.: |
59092645 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
In Taiwan, the company mainly handles international marketing and sales
to international clients of footwear produced in the companies in China and
Vietnam based factories. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
HSIN-KUO
PLASTIC INDUSTRIAL CO LTD
320 YUAN LU RD SECTION 3 PU HSIN TSUN PUHSIN
HSIANG CHANGHWA HSIEN 513, TAIWAN
TEL: 886-4-8293101 FAX: 886- 4-8293105
EXECUTIVE SUMMARY
INCORPORATION DATE : NOVEMBER 11, 1975
REGISTRATION NO. :
59092645
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHAO-CHIN CHAN (CHAIRMAN)
STAFF STRENGTH :
15
CAPITAL :
US$ 525,452
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 100,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 31.51003 = 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
*Licenses & Permits*
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License number : 9965136100
Date issued : 9 February, 1976
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Size : 1,044 sq. meter (Approx.)
Location : Changhwa Hsien
Property status : Owned by HSIN-KUO PLASTIC
INDUSTRIAL CO LTD
Type of building : Industrial
building
Comment : - The administrative offices which
manage the China and Vietnam factories and receipt of orders, is located in the
premises which were previously used for manufacturing in Taiwan. The firm still
maintains a license to manufacture footwear in Taiwan, but the only
production that takes place in Taiwan
are small sample batches for new products when requested.
- Serves as office and factory
Other e-mail : hsinkuo@ms26.hinet.net
Previous tel no. :
4-328989
*Corporate & Organization Structure*
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A small -sized company operated and managed by the owner and an experienced
team of professionals.
SC is not known to host website of its own at present.
E-mail: service@thrive.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders : 4
Total number of shares : 1,600,000
Shareholders Country Number Amount %
Mr. Chao-chin Chan Taiwan 533,328.00 n/a 33.33
Mr. Hsien-jung Lin Taiwan 533,328.00 n/a 33.33
Mr. Shun-ping Lin Taiwan 355,552.00 n/a 22.22
Mr. Tung-yen Chan Taiwan 177,792.00 n/a 11.11
Management: Ms. Shu-min Chan,
Manager
Mr. Chao-chin Chan, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Shu-min Chan Taiwanese Manager Sales
Mr. Chao-chin Chan Taiwanese General Manager -
*COMPANY DIRECTORS*
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1
Name :
Mr. Chao-chin Chan
Nationality :
Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of work :
1. In Taiwan, the company mainly handles international marketing and
sales to international clients of footwear produced in the companies in China
and Vietnam based factories.
2. Domestic purchases of plastic resins and footwear, manufacturing
equipment and export to its overseas factories based in China and Vietnam.
3. All finished products are manufactured in China and Vietnam, and then
shipped to customers directly.
Products: Animal leather
Beads
Bovine leather
Fabrics
Footwear making
machinery
*Payment Terms*
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Sales
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Local : 30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
*Competitors*
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The following locally based companies supply similar range of products :
- ACL FOOTWEAR CO LTD
- AGUILA ENTERPRISES CO LTD
- ANN YUANN ENTERPRISE CO LTD
- C ROBERT ENTERPRISE CO LTD
- CHANG YUH FOOTWEAR CO LTD
*Local Distribution Network*
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The company is largely focused on the export market and hence very
little domestic sales are achieved.
*International Trade Activity*
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Note: The import figures listed above, are not actual products being
imported by HSIN-KUO, but a small percentage of returned goods manufactured by
the firm.
*Export Markets*
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Majority of the annual turnover is attributed to export.
*LOCAL BRANCHES & MANAGEMENT*
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Branch :
HSIN-KUO PLASTIC INDUSTRIAL CO LTD - YUNGCHING HSIANG
Branch Address : 143
Yung Sheh Rd Yungching Hsiang, Changhwa Hsien 512
Branch Tel :
[+886] 4-8226101
Branch Fax :
[+886] 4-8226105
Branch Employees : 3
Branch Management
Name Job Description Nationality
Ms. Shu-min Chan Manager Taiwanese
*(Subsidiaries , Joint-ventures & Affiliates)
==========================
Company Name : AN THINH
SHOES CO LTD
Address :
143 Yung Sheh Rd Nan Kang Villag Yungching Hsiang 512 Changhwa Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Unknown
Industry :
N/A
Company Name : HOSANNA
SHOES CO LTD
Address :
121 Ching Hsing Rd Chao Hsing Tsun 511 Changhwa Hsien Taiwan
Country :
Taiwan
Relationship Affiliate
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Footwear
Company Name : PINGZHOU
YUNG AN SHOE CO LTD
Address :
Pingzhou Town Nanhai City Nanhai 528251 Guangdong China
Country :
China
Relationship :
Subsidiary
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Footwear
Company Name : THRIVE
ENTERPRISE CO LTD
Address :
143 Yung Sheh Rd Nan Kang Village Yungching Hsiang 512 Changhwa Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Footwear
PAYMENT RATING : 3 OBTAINED SCORES :
57
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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 MODERATE
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.
Additionally, because the firm is now manufacturing in China and Vietnam
and exporting from China and Vietnam to international markets, the companies essentially
just handling administrative issues relating to orders and shipments. Therefore
the turnover figures for the Taiwan operations are not entirely reflective of
the firm's total business activities in China and Vietnam.
*BANK DETAILS*
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Bank Name : BANK OF TAIWAN
Branch : Chungcheng Dist,Taipei City
Branch Address : 120 Chung Ching South Rd Section 1
SWIFT Code : BKTWTWTP
Bank Name : TAICHUNG COMMERCIAL BANK CO LTD
Branch : Central Dist,Taichung City
Branch Address : 45 Min Tsu Rd
SWIFT Code : TCBBTWTH
*Financial Summary (Currency: U.S. $'s)
=============================
Year Sales Assets Net Income
2006 $9,129,383.31 $423,216.44 $272,067.71
2007 $9,469,849.55 $422,450.21 $288,473.14
*Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2004 $10,000.00 $7,050,000.00 $7,060,000.00
2005 n/a $6,960,000.00
$6,960,000.00
2006 $11,000.00 $6,920,000.00 $6,931,000.00
2007 $15,000.00 $7,130,000.00 $7,145,000.00
SC is considered small-sized in its line with a development history of
33 years. The above credit amount appears to be beyond SC’s capacities, while a
credit line up to USD 100,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2241 Narrow
woven fabrics
Exporting 2300 Apparel/Other
Textile Products
Exporting 2394 Tarpaulins,
tents, awnings, sails, and other made-up canvas goods
Exporting 2399 Fabricated
textile products,
Exporting 2600 Paper
and allied Products
Exporting 2653 Corrugated
paper and paperboard and articles thereof, including boxes, pallets, etc.
Exporting 3000 Rubber
& Misc. Plastics
Exporting 3021 Rubber
and plastics footwear
Exporting 3100 Leather
and Leather Products
Exporting 3199 Leather
goods,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3211000000 Prepared driers
Exporting 3506910000 Adhesives based on rubber or plastics (including artificial
resins) for use as adhesives, put up for retail sale as adhesive, nt exceed net
wt of 1 kg
Exporting 3506990000 Other products suitable for use as adhesives put up for retail
sale as adhesives, not exceeding a net weight of 1 kg
Exporting 3808200000 Fungicides
Exporting 3808205000 Other fungicides
Exporting 3921120000 Plates, sheets, film, foil & strip cellular, of polymers of
vinyl chloride
Exporting 4104 Bovine
or equine leather, no hair
Exporting 4106 Goat
or kidskin leather, no hair
Exporting 4106200000 Goat or kidskin leather, without hair on, parchment-dressed or
prepared after tanning
Exporting 4107900000 Leather of other animals, without hair on
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Bovine
leather
Exporter Prepared
driers
Exporter Paper &
paperboards
Exporter Fabrics
Exporter Footwear
repairing machinery
Exporter Footwear making
machinery
Exporter Spangle
Exporter Beads
Exporter Leg warmer
Exporter Tarpaulines
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting
Europe Exporting
North America Exporting
Pacific Exporting
Australia Exporting
China Exporting
USA Exporting
United Kingdom Exporting
Vietnam Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.73 |
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UK Pound |
1 |
Rs.80.31 |
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Euro |
1 |
Rs.64.61 |
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%)