MIRA
INFORM REPORT
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Report Date : |
01.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
HUA ENG WIRE & CABLE CO LTD |
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Registered Office : |
170 Chung Cheng 4th Rd Chienchin Dist
Kaohsiung City 801 |
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Country : |
Taiwan |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
08.12.1956 |
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Com. Reg. No.: |
79460007 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Imports and local purchase of raw materials used in production. Research and development of technologies related to wire and cable. Manufacture of various types of cables. Sales and distribution of products to both local and international
markets. |
RATING &
COMMENTS
|
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 : |
USD 3,500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
HUA
ENG WIRE & CABLE CO LTD
170 CHUNG CHENG 4TH RD CHIENCHIN DIST
KAOHSIUNG CITY 801, TAIWAN
TEL: 886-7-2814161 FAX: 886-7-2827562
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 8, 1956
REGISTRATION NO. :
79460007
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. HSIEN-MING WU (PRESIDENT)
STAFF STRENGTH :
527
CAPITAL :
US$ 196,513,511
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 15,209,536,000 (AS OF 2007)
EQUITIES :
NTD 8,269,712,000 (AS OF 2007)
PAYMENT :
ABOVE AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 3,500,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY GOOD
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.36670 = 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
*OTHER LICENSE*
===============
License Number :
70848824
Date of Registration : 3
June, 2004
Issuing Authority :
Ministry of Economic Affairs
License Number : 11701401
Date of Registration : 4
October, 1966
Issuing Authority :
Ministry of Economic Affairs
*Company History*
===============
1956 - Started
as a copper refinery Plant and founded by Yu-yun Wang and his brother Yu-Fa
Wang
11 July, 1957 - Became
listed in public.
July 1969 - Invested
in FIRST COPPER TECHNOLOGY CO LTD
1969 - Began
technical cooperation with Japan's SHOWA ELECTRIC WIRE & CABLE CO.
-
Began producing power and telecommunication cables.
1973 - Began
manufacturing high quality oxygen-free copper rods with technical assistance of
G.E.
1976 - Began
producing cross-linked polyethylene insulated cables with technical assistance
from G.E and SHOWA.
1984 - Became
the first producer of optical fiber cables and terminal conductors in China
with the assistance of SHOWA.
1987 -
Established an electro-optics laboratory for research and development on
optical fiber cables.
July 1988 - Invested
in HUA WELL ELECTRONICS-OPTICS CO LTD
11 July, 1988 - Became
listed in Taiwan Stock Exchange with ticker no 1608 and symbol HE
July 1990 - Invested
in HUA HO ENGINEERING CO LTD
September 1990 - Invested in PACIFIC SECURITIES CO LTD
March 1992 - Invested in
CHUNG-TAI TELECOMMUNICATION CORP
February 1993 - Invested in
CHINA CORP CO LTD
1993 -
Researched and developed the manufacturing technology of flame, heat and
erosion-resistance
EPR insulation cable with the technical cooperation of FURUKAWA ELECTRIC
CO LTD.
June 1994 - Invested
in GLOBAL SECURITIES FINANCE CORP
December 1994 - Invested in
CHICONY ELECTRONIC CO LTD
February 1995 - Invested in
CHUNG SHING BANK
December 1996 - Invested in
UNITED ELECTRIC INDUSTRIAL CO LTD
June 1997 - Invested
in CHAN HSIN INVESTMENT CO LTD
August 1997 - Invested in
WAFER WORK CORP
February 1998 - Invested in
TOONG LA CO LTD
April 1998 - Invested
in INT'L UNITED TECHNOLOGY CORP
August 1998 - Invested in
CHUNG SHAN DEVELOPMENT CO (USA) LP
September 1998 - Invested in
UNITED CAPITAL CORP
November 1998 - Invested in
DIGITAL UNITED INC
-
Invested in AMPHASTAR PHARMACEUTICALS INC
February 1999 - Invested in
HUA ENG VENTURE CAPITAL CORP
March 1999 - Invested in
HUA ENG INVESTMENT CO LTD
April 1999 - Invested in JAPAN VENTURE CAPITAL
CORP
May 1999 - Invested in
ELIGHTS TECHNOLOGIES CO LTD
June 1999 - Invested
in MEDINOX INC
August 1999 - Invested in
WATRON TECHNOLOGY CORP
January 2000 - Invested in
EASTERN GAS STATION
October 1999 - Invested in
INT'L MAGNESIUM TECHNOLOGY CO LTD
February 2000 - Invested in
TRADEVAN INFORMATION SERVICE CO LTD
-
Invested in JJ MOUNTAIN INC
- Invested
in EILINK CORP
March 2000 - Invested in
HAN LONG INFORMATION CO LTD
2001 - Began
producing optical fiber.
2002 -
Qualified by UL for LAN Cable cat.6 Type, CMR, CM and CMX.
2003 - 250V/660V/750V/3.6KV FIRE RESISTANT
SHIPBOARD CABLE is accredited with BV certification.
-
PVC insulated wire is certified by the Bureau of Standards, Metrology and
Inspection, under the Ministry of Economic Affairs of Taiwan.
-
Registered products are accredited with ISO900 quality assurance award, and the
Quality Management Systems of the year 2000 version is awarded with UL
certification.
2004 - HUA
ENG GROUP is accredited with Excellent Taiwan Exporter and Importer award in
year 2003 by the Bureau of Foreign Trade, with products evaluated and rectified
by the testing laboratory, and certified by the CNLA laboratory.
2005 - 161
KV power cable turn-key project awarded by TAIWAN POWER CO (TPC). For this
project HUA ENG received quality of excellence award by the ministry of
commerce.
2006 - The
345KV high voltage XLPE power cable for TAIWAN POWER CO is currently under
certification for domestic production.
2007 -
Awarded with Malaysia's SIRIM National Product Safety Standard Certification.
-
Accredited with Japan's PSE XLPE Power Cable Certification.
- Established FIRST ALLIANCE CONSTRUCTION
CO, and Certified by CHUNG HWA TELECOM as strategic alliance supplier.
*Company Name*
==============
Incorporated as : HUA
ENG COPPER & IRON INDUSTRIAL CO LTD
Year of incorporation : 1956
Changed name to : HUA ENG
WIRE & CABLE CO LTD
Date of change : 5
October, 1987
*Company Registration*
===================
License number : 79460007
Date issued : 8
December, 1956
Issuing authority : Ministry of
Economic Affairs (MOEA)
Branch registrations
----------------------------
(1)
License number : 70848824
Date issued : 3 June,
2004
Issuing authority : Ministry of
Economic Affairs (MOEA)
Type of license : Kaohsiung
Branch license
(2)
License number : 11701401
Date issued : 4
October, 1966
Issuing authority : Ministry of
Economic Affairs (MOEA)
Type of license : Taipei
Branch license
*Licenses & Permits*
=================
(1)
License number : 9966322900
Date issued : 31
December, 1990
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 9966323000
Date issued : 30
December, 1996
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory
license
*Capital Details*
==============
Market capitalization: NTD 11,284,480,000
Year
: 1995
Initial registered capital
: NTD 5,996,432,000
Capital increases as follows:
Year Increase (NTD)
-------
--------------------
2001
6,296,000,000.00
--
6,327,735,060.00
*Office & Facilities*
================
Size :
1106 sq. meters (Approx.)
Location : Kaohsiung
Property status : Owned by HUA
ENG WIRE & CABLE CO LTD
Type of building : Commercial Building
Comments : Premise is
shared with FIRST COPPER TECHNOLOGY CO LTD
*Factories, Size & Locations*
=======================
Size :
52,235 sq. meters (Approx.)
Location : Kaohsiung
Hsien
Property status : Owned by HUA
ENG WIRE & CABLE CO LTD
Type of building : Industrial Building
*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
------- ---------
1999 147
2000 198
2001 188
2006 129
2007 134
*Sales Ranking*
============
Generally regarded as one of the Top 500 Companies in terms of sales.
Details of rank are as follows :
Year Rank
------ ------
1996 111
1997 122
1998 127
2000 192
2001 184
2002 202
*Auditor *
========
KPMG PEAT MARWICK LTD
www.hegroup.com.tw
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: hs130@hegroup.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: n/a
Total number of shares: n/a
Shareholders Country Number Amount %
FIRST COPPER TECHNOLOGY CO LTD Taiwan 68,125,277.00 n/a n/a
INTERNATIONAL TSAI CHUAN Taiwan
1,465,119.00 n/a n/a
ENTERPRISE CO LTD
CHEN HAO ENTERPRISE CO LTD Taiwan
1,000,000.00 n/a n/a
MEI DA WOODS INDUSTRY CO LTD Taiwan 887,732.00 n/a n/a
Management: Ms. Hsiu-mei Liu,
Manager
Mr. Chin-hsing Chen, Manager
Mr. Wu-nan Fang, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Hsiu-mei Liu Taiwanese
Manager Account
Mr. Chin-hsing Chen Taiwanese
Manager Factory
Mr. Wu-nan Fang Taiwanese
General Manager -
Mr. Chien-ching Lee Taiwanese
Manager -
Mr. Chien-jung Huang Taiwanese Manager -
Mr. Chin-ming Chou Taiwanese Manager -
Mr. Hsien-yin Chen Taiwanese
Manager -
Mr. Kun-chin Chen Taiwanese
Manager -
Mr. Su-yuan Ou Taiwanese
Manager -
Mr. Ta-lung Chou Taiwanese
Manager -
Mr. Yun-ming Wang Taiwanese Manager -
Mr. Hsien-ming Wu Taiwanese President -
Mr. Hua-chih Huang Taiwanese Vice General Manager -
Mr. Ming-hsiang Lin Taiwanese
Vice General Manager -
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Chao-hsiung Kao
Nationality : Taiwanese
2
Name : Mr. Chen-hsin Yeh
Nationality : Taiwanese
3
Name : Mr. Hsien-ming Wu
Nationality : Taiwanese
Country of Residence : Taiwan
4
Name : Mr. Jung-ta Su
Nationality : Taiwanese
5
Name : Mr. Ming-hsiang Lin
Nationality : Taiwanese
6
Name : Mr. Wu-nan Fang
Nationality : Taiwanese
7
Name : Mr. Yi-hsun Lee
Nationality : Taiwanese
8
Name : Mr. Yu-fa Wang
Nationality : Taiwanese
9
Name : Ms. Lien-fang Tsai
Nationality : Taiwanese
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Imports and local purchase of raw materials used in production.
2. Research and development of technologies related to wire and cable.
3. Manufacture of various types of cables.
4. Sales and distribution of products to both local and international
markets.
Products also include:
- LSFH Cables
- 161 KV Super High Voltage Cables
Products: ACSR strands
Aluminum conductor
steel
Aluminum wires
Cables,
telecommunications
Communication
cables
*Brand*
======
Hua Eng
*Payment Terms*
==============
Sales
-------
Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Open account /DA
terms with settlement using Telegraphic/Transfer (T/T)
*Technologies Developed and/or Acquired*
================================
Maintains Technical cooperation with the following companies :
- SHOWA ELECTRIC WIRE & CABLE CO LTD
- GENERAL ELECTRIC
- FURUKAWA ELECTRIC CO LTD
*Quality Certification*
==================
(1)
Type of certification : ISO 9001
Year of certification : 1994
(2)
Type of certification : N/A
Issuing authority : Canadian
Standards Association (CSA)
Year of certification : 1995
Details :
For PVC electrical wires
(3)
Type of certification : N/A
Issuing authority :
UNDERWRITERS LABORATORIES INC (UL)
Year of certification : 1995
Details :
For PVC electrical wires
(4)
Type of certification : N/A
Issuing authority : Chinese
National Standards (CNS)
Year of certification : 1995
Approved number : CN 4898
Details :
For control cables
(5)
Type of certification : N/A
Issuing authority : Chinese
National Standards (CNS)
Year of certification : 1996
Approved number : CNS 3471
Details :
For duct cables
(6)
Type of certification : N/A
Issuing authority : Ministry
of Fire-fighting
Year of certification : 1997
Details :
For fire-resistance cable and heat-resistance cable
(7)
Type of certification : N/A
Issuing authority :
UNDERWRITERS LABORATORIES INC (UL)
Year of certification : 1998
Details : For
LAN cable type, CMR, CM and CMX
(8)
Type of certification : N/A
Issuing authority : ABS
QUALITY EVALUATIONS INC (ABS) and DET NORSKE VERITAS (DNV)
Year of certification : 1998
Details :
For shipboard cables
(9)
Type of certification : ISO 9002
Issuing authority :
UNDERWRITERS LABORATORIES INC
Year of certification : 1998
(10)
Type of certification : ISO14000
*Exhibition Participation*
====================
Participated in the following local exhibitions:
(1)
Exhibition fair : Taipei
International Electronics Show
Location : Taipei
World Trade Center - Exhibition Hall
Dates attended : 16 October, 2002 - 20 October, 2002
(2)
Exhibition fair : Taipei
International Electronic Show
Location : Taipei
World Trade Center - Exhibition Hall
Dates attended : 9 October, 2002 - 13 October, 2002
*Associations*
============
Member of :
- Taiwan Electrical & Electronic Manufacturers' Association (TEEMA)
*Competitors*
===========
The following locally based
companies supply similar range of products:
- CHUNG KWANG ELECTRIC WIRE & CABLE CO
- DER AN ELECTRIC WIRE & CABLE CO LTD
- LUCKY UNITED ELECTRIC WIRE & CABLE CO LTD
- PACIFIC ELECTRIC WIRE & CABLE CO LTD
- TA CHUAN ELECTRIC WIRE & CABLE CO LTD
- HOLD-KEY ELECTRIC WIRE & CABLE CO LTD
*Production Capacity*
==================
(1)
Item
Maximum Capacity (2007)
Maximum Capacity (2006)
-------
----------------------------------
---------------------------------
Wire 60,000 tons 62,400 tons
Power Cable 27,960tons 27,960 tons
Communication Cable
2,052 tons 2,568 tons
Optical Fiber Cable 612 tons 612 tons
Other 1,200 tons 1,440 tons
(2)
Item
Current Capacity (2007)
Current Capacity (2006)
-------
----------------------------------
---------------------------------
Wire 52,555
tons
55,548 tons
Power Cable 17,824 tons 16,684 tons
Communication Cable
1,492 tons 2,164 tons
Optical Fiber Cable 226 tons 345 tons
Other 1,072 tons 784
tons
*Local Distribution Network*
=======================
An estimated 74% of the annual turnover is attributed to local
sales.
*International Trade Activity*
========================
1969 - Started
technical cooperation with Japan's SHOWA ELECTRIC WIRE & CABLE CO LTD
1973 - Started
technical assistance with GENERAL ELECTRIC
1993 -
Technical cooperation agreement with Japan’s FURUKAWA ELECTRIC CO LTD
*Export Markets*
==============
An estimated 26% of the annual turnover is attributed to export.
*Overseas Customers*
==================
Major overseas customers also include:
- MITSUBISHI CORP
- ENMAI
*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
------ ----------
1997 147
2001 198
2002 194
2003 233
2004 188
2005 166
2006 096
2007 091
*LOCAL BRANCHES & MANAGEMENT*
================================
Branch : HUA ENG WIRE & CABLE CO LTD - MIAOLI CITY
Branch Address : Tung Lo Industrial Park 37 Tunglo Chen Min Chih Rd
Tsaochiao Hsiang, Miaoli Hsien 361
Branch Tel : [+886] 3-7984335
Branch Employees : 10
Branch : HUA ENG WIRE & CABLE CO LTD - TAICHUNG CITY
Branch Address : 5Fl-1, 186 Tong-Shing Rd Section 2 Nantun Dist,
Taichung City, 408
Branch Tel : [+886] 4-24726503
Branch Fax : [+886] 4-24716509
Branch Employees : 20
Branch : HUA ENG WIRE & CABLE CO LTD - TAIPEI CITY
Branch Address : 11Fl Ta-Feng Bldg 208-210 Nanking East Rd Section 3
Chungshan Dist, Taipei City, 104
Branch Tel : [+886] 2-27717611
Branch Fax : [+886] 2-27213467
Branch Employees : 30
*(Subsidiaries, Joint-ventures & Affiliates)
==========================
Company Name : CHICONY ELECTRONICS CO LTD
Address : Wuku Industrial Park 25 Wu Kung 6th Rd Wuku Hsiang 248 Taipei
Hsien Taiwan
Country : Taiwan
Relationship : Invested Entity - Minor Equity
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Computer & Information Products
Company Name : CHUNG SHAN DEVELOPMENT CO (USA) LP
Country : USA
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : CHUNG SHING BANK
Address : Chung Shing Bank Bldg 228-230 Sung Chiang Rd Chungshan Dist
Taipei City 104 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Public Listed Company
Company Type : Service
Industry : Financial Services - General
Company Name : CHUNG-TAI TELECOMMUNICATION CORP
Address : 66-1 Yung Ho St Tucheng City 236 Taipei Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Telecommunications
Company Name : DIGITAL UNITED INC
Address : 220 Kung Chen Rd Neihu Dist Taipei City 114 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Service
Industry : Computer & Information Products
Company Name : EASTERN GAS STATION
Address : 6Fl, 170 Chung Cheng 4th Rd Chienchin Dist Kaohsiung City 801
Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Petrochemicals
Company Name : FIRST COPPER TECHNOLOGY CO LTD
Address : 4Fl 170 Chung Cheng 4th Rd Chienchin Dist Kaohsiung City 801
Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Metals & Metal Products
Company Name : FIRST UNITED ENGINEER CO LTD
Address : 4Fl, 170 Chung Cheng 4th Rd Chienchin Dist Kaohsiung City 801
Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : GLOBAL SECURITIES FINANCE CORP
Address : 17Fl, 51 Keelung Rd Section 2 Hsin-i Dist Taipei City 110
Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Service
Industry : Financial Services - General
Company Name : HUA ENG INVESTMENT CO LTD
Address : 6Fl, 170 Chung Cheng 4th Rd Chienchin Dist Kaohsiung City 801
Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : HUA HO ENGINEERING CO LTD
Address : 2Fl, 170 Chung Cheng 4th Rd Chienchin Dist Kaohsiung City 801
Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : HUA WELL ELECTRONIC-OPTICS CO LTD
Address : Hsinchu Science-Based Industrial Park 3 Kung Yeh Tung 6th Rd
Hsinchu City 300 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electrical Equipment & Appliances
Company Name : INTERNATIONAL UNITED TECHNOLOGY CO LTD
Address : 921 Po Ai St Chupei City 302 Hsinchu Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Computer & Information Products
Company Name : JAPAN VENTURE CAPITAL CORP
Country : Japan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : PACIFIC SECURITIES CO LTD
Address : 13Fl, 200 Chung Hsiao East Rd Section 4 Ta-an Dist Taipei City
106 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Service
Industry : Financial Services - General
Company Name : TAIWAN TIMES CO LTD
Address : 110 Chung Shan 1st Rd Hsinhsing Dist Kaohsiung City 800 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Paper, Pulp & Products
Company Name : TOONG LA CO LTD
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : UNITED CAPITAL CORP
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : UNITED ELECTRICS INDUSTRY CO LTD
Address : 4Fl, 285 Chung Hsiao East Rd Section 4 Ta-an Dist Taipei City
106 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : WAFER WORKS CORP
Address : 1, Lane 445, Mei-shi Rd Section 2 Yangmei Chen 326 Taoyuan
Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : WATRON TECHNOLOGY CORP
Address : Rm 418 Bldg 53 195 Chung Hsing Rd Section 4 Chutung Chen 310
Hsinchu Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
*Subsidiaries, Joint-ventures & Affiliates*
=================================
Maintains Investment in the following companies:
Finance
----------
- CHUNG SHING BANK
- PACIFIC SECURITIES CO LTD
- GLOBAL SECURITIES FINANCE CORP
Steel
-------
- FIRST COPPER TECHNOLOGY CO LTD
- UNITED ELECTRIC INDUSTRIAL CO LTD
- TOONG LA CO LTD
Venture Capital
---------------------
- UNITED CAPITAL CORP
- CHUNG SHAN DEVELOPMENT CO (USA) L P
- JAPAN VENTURE CAPITAL CORP
- HUA ENG VENTURE CAPITAL CORP
- HUA ENG INVESTMENT CO LTD
- CHAN HSIN INVESTMENT CO LTD
Electronics
---------------
- WATRON TECHNOLOGY CORP
- INTERNATIONAL UNITED TECHNOLOGY CORP
- CHICONY ELECTRONIC CO LTD
- WAFER WORK CORP
Electronics-Optics
- HUA WELL ELECTRONICS-OPTICS CO LTD
- ELIGHTS TECHNOLOGIES CO LTD
Telecommunication
--------------------------
- CHUNG-TAI TELECOMMUNICATION CORP
- DIGITAL UNITED INC
- HAN LONG INFORMATION CO LTD
- JJ MOUNTAIN INC
- EILINK CORP
Engineering
----------------
- HUA HO ENGINEERING CO LTD
- CHINA CORP CO LTD
Pharmaceuticals
----------------------
- AMPHASTAR PHARMACEUTICALS INC
- MEDINOX INC
Other
--------
- EASTERN GAS STATION
Industry % of Investment
--------------
-------------------------
Finance 32
Steel
28
Venture Capital 12
Electronics 11
Electronic-Optics 8
Telecommunication 6
Engineering 2
Pharmaceuticals 1
Company Name
% of Investment
-------------------- ---------------------
FIRST COPPER TECHNOLOGY CO LTD 14.46
CHICONY ELECTRONICS CO LTD 12
*Strategic Partners & Alliances*
=========================
Maintains technical cooperation with :
- SHOWA ELECTRIC WIRE & CABLE CO LTD, Japan
PAYMENT RATING : 2 OBTAINED SCORES :
76
|
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 FAIRLY
LARGE amounts depending on individual judgement experience.
*BANK DETAILS*
=================
Bank Name : BANK OF TAIWAN
Branch : Chungcheng Dist, Taipei City
Branch Address : 120 Chung Ching South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : BKTWTWTP
Balance Sheet
Currency : NTD
Denomination : in Thousands
2007 2006
----------------- -----------------
Current Assets 5,378,828 4,900,398
Funds & long-term investments 1,353,621
1,416,811
Property 2,537,161 2,617,692
Other Assets 608,422 634,999
Current Liabilities (Before) 875,670 1,105,454
(After) -- 1,371,884
Long-term Liabilities 521,382 521,382
Other Liabilities 276,077 279,086
Common stock 6,327,735 6,327,735
Capital Reserve 56,240 52,682
Retained Earnings (Before) 1,202,771 609,059
(After)
-- 342,629
Total Assets 9,942,841 9,660,657
Total Liabilities (Before) 1,673,129 1,905,922
(After)
-- 2,172,352
Total Shareholder's Equity (Before) 8,269,712
7,754,735
(After) -- 7,488,305
Income Statement
Currency : NTD
Denomination : in Thousands
2007 2006
----------------- -----------------
Operating revenue 15,209,536 13,400,278
Gross Profit 326,914 575,806
Operating Income 106,846 366,931
Non-operating income 793,451 449,439
Non-operating expense 44,087 649,163
Net Income 860,142 358,058
Earnings (losses) per share (After) 1.48 0.6
*Financial Ratios*
==============
2007 2006
-----------------
-----------------
Ratio of liabilities to Assets % 16.83 19.73
Ratio of long-term capital
to fixed Assets %
346.49 316.16
Current ratio % 614.25 443.29
Quick ratio % 304.46 225.81
Interest coverage 4,272.16 1,954.56
Turnover of receivable (times) 13.00 12.00
Average collection period of receivable 29.00 30.00
Turnover of inventories (times) 6.11 7.61
Turnover of expense (times) 30.00 59.00
Average days of sales 60.00 48.00
Turnover of fixed assets (times) 5.99 5.12
Turnover of total assets (times) 1.53 1.39
Return on total assets % 8.65 3.71
Operating Income 2.00 6.00
Net Income before tax 13.53 2.64
Profit margin % 5.66 2.67
*Financial History*
==============
1992 - Embarked NTD 2 billion
for the plant expansion and facilities.
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
1992 $171,838,618.00 $245,606,218.00 $21,547,345.00
1993 $190,016,655.00 $246,405,600.00 $23,366,036.00
1994 $209,627,127.00 $258,727,600.00 $20,204,436.00
1995 $255,346,836.00 $346,483,127.00 $13,367,818.00
1996 $261,795,703.70 n/a $28,208,148.15
1997 $272,138,222.22 n/a $26,475,037.04
1998 $289,515,333.33 $389,851,851.85 $23,895,037.04
1999 $231,249,781.25 n/a $17,899,031.25
2001 $166,947,185.14 $323,215,322.11 -$18,398,142.77
2002 $1,722,621,442.94 n/a n/a
2003 $171,702,508.65 $304,697,664.36 $12,269,521.34
2004 $241,445,233.08 $327,352,781.95 $10,284,541.35
2005 $271,895,197.47 $276,561,358.61 -$4,564,486.57
2006 $405,087,001.21 $292,039,207.98 $10,824,002.42
2007 $458,947,978.27 $300,025,377.19 $25,954,797.83
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
1996 $141,800,000.00 $21,700,000.00 $163,500,000.00
1997 $147,600,000.00 $23,700,000.00 $171,300,000.00
1998 $145,300,000.00 $16,400,000.00 $161,700,000.00
1999 $127,900,000.00 $13,500,000.00 $141,400,000.00
2005 $206,583,540.98 $43,328,095.99 $249,911,636.97
2006 $385,731,559.85 $73,181,355.99 $458,912,915.84
2007 $386,541,943.27 $105,782,936.99 $492,324,880.26
SC is considered large-sized in its line with a long development
history. Taking into consideration of SC’s general performance, a credit line up
to USD 3,500,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3357 Nonferrous
metal wire and cable, drawn and insulated
Exporting 3496 Fabricated
wire products,
Importing 2800 Chemicals
and Allied Products
Importing 3089 Plastics
products,
Importing 5169 Chemicals/Allied
Prdts, NEC
Manufacturing 3357 Nonferrous
metal wire and cable, drawn and insulated
Manufacturing 3366 Copper
Foundries
Manufacturing 3599 Machinery,
except electrical, and parts,
Manufacturing 3643 Current-carrying
wiring devices
Manufacturing 3669 Other
communications equipment, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7002390000 Tubes of glass, unworked
Exporting 7407100000 Bars, rods and profiles of refined copper
Exporting 7408113000 Refined copper wire with a maximum cross-sectional dimension
over 9.5mm
Exporting 7408190000 Refined copper wire, with a maximum cross-sectional dimension
under 6mm
Exporting 8500 Electrical
machinery & equip. & parts; telecommunications equip., sound recorders,
television recorders
Exporting 8544592080 Insulated electric conductors of copper
Exporting 8544606000 Insulated electric conductors > 1000 v
Importing 3404900000 Artificial waxes and prepared waxes
Importing 3824909050 Chemical products and preparations of the chemical or allied
industries
Importing 3901 Polymers
of ethylene, in primary forms
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Electrolytic
copper
Manufacturer Wire
copper/uninsulated
Manufacturer Aluminum
wires
Manufacturer ACSR strands
Manufacturer PVC wires
Manufacturer Digital
cables
Manufacturer LAN cables
Manufacturer Communication
cables
Manufacturer High-voltage
cables
Manufacturer Elevator,
cables
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Africa Importing
Asia / Pacific Exporting,Importing
Europe Exporting,Importing
Middle-East Exporting,Importing
Australia Importing
Belgium Importing
Brazil Importing
Chile Importing
China Exporting,Importing
Czech Republic Importing
Finland Importing
France Exporting
Germany Importing
Hong Kong Exporting
India Importing
Indonesia Importing
Japan Exporting,Importing
Kuwait Exporting
Macao Exporting
Malaysia Exporting,Importing
Mauritius Exporting
Oman Importing
Peru Exporting
Singapore Exporting,Importing
South Africa Importing
South Korea Exporting,Importing
Sweden Importing
Switzerland Importing
USA Importing
United Arab Emirates Importing
Vietnam Exporting
Zambia Importing
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.09 |
|
UK Pound |
1 |
Rs.76.68 |
|
Euro |
1 |
Rs.63.48 |
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%)