MIRA
INFORM REPORT
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Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAINAN SPINNING CO LTD |
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Registered Office : |
511 Yu Nung Rd East Dist Tainan City 701 |
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Country : |
Taiwan |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
21.03.1955 |
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Com. Reg. No.: |
68919301 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Importing of Textile used Chemicals. Manufacturing of Weave Cloths and other related products |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 5,000,000 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
TAINAN
SPINNING CO LTD
511 YU NUNG RD EAST DIST
TAINAN CITY 701, TAIWAN
TEL: 886-6-2376161 FAX: 886-6-2361156
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 21, 1955
REGISTRATION NO. :
68919301
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. KAO-HUI CHENG (PRESIDENT)
STAFF STRENGTH :
1,783
CAPITAL :
US$ 463,827,329
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 12,273,037,000 (AS OF 2007)
EQUITIES :
NTD 23,256,581,000 (AS OF 2007)
PAYMENT :
ABOVE AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 5,000,000
MARKET CONDITION :
COMPETIITVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.54578 = 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
*Company History*
===============
March 1955 - Established
by Mr. Shan-lien Wu.
-
Purchased a land of 12 hectares in Tainan City to construct Tainan Spinning Plant.
December, 1955 - Commenced
production in Tainan Spinning Plant
with all the 10,000 spindles.
1958 -
Installment of weaving looms in Tainan Spinning Plant.
1970 -
Established the Jenteh Spinning Plant.
1971 -
Commenced production in Jenteh Spinning Plant.
1973 -
Established the Polyester Staple Fiber Plant in Jenteh.
1975 - Appointed Director Kao-huei Cheng as
President and elected Hsiu-chi Wu to be the Vice
Chairman of the Board.
1976 -
Commenced production of polyester staple fiber.
-
Installed Open-End Spinning Frame in Jenteh Spinning Plant.
1984 -
Acquired CENTURY INDUSTRIAL CO which produced polyester pre-oriented yarn and
named TAITZU POLYESTER FILAMENT PLANT.
1986 -
Established the Hsinshih factory.
February 1986 - Acquired SOUTH
LAND TEXTILE CO LTD which produced cotton yarns and named
HSINGHSIH SPINNING PLANT.
1988 -
Chairman San-lien Wu passed away.
- Mr. Hsiu-chi Wu took
over as Chairman.
January 1988 - Elected
Kao-huei Cheng as Vice-Chairman of the Board.
3 OCtober, 1989 - Became listed on the Taiwan Stock Exchange
1993 -
President Kao-Huei Cheng became CEO of Tainan Spinning Group.
-
Mr. Shang-Hsiung Chuang succeeded as President
1995 -
Stopped the production of the Tainan head factory and moved some machines to
Vietnam
factory.
1997 -
Vietnam Plant started production.
2001 - Shut
down the II & III production lines of Jenteh Spinning Plant and all their equipment
was moved to Vietnam.
- President Shang-hsiung Chuang
retired.
-
Mr. Po-ming Hou succeeded as the President of company.
*Capital Details*
=============
Initial capital : NTD 7,500,000.00
Capital increases/decreases are as follows :
Year
Increase/Decrease (NTD)
-------
----------------------------------
1986
1,815,000,000.00
1987
2,450,000,000.00
1988
3,431,000,000.00
1989
4,500,000,000.00
1992
8,037,000,000.00
1998
12,619,000,000.00
2000
15,013,380,000.00
2003
14,935,240,000.00
Market capitalization : NTD 32,052,640,000.00
Year
: 1995
*Licenses & Permits*
=================
(1)
License number : 9965640800
Date issued : 30
November, 1971
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 9967307101
Date issued : 1
November, 1969
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
================
Size :
38,436 sq meters (Approx)
Location : Tainan
City
Property status : Owned by
TAINAN SPINNING CO LTD
Type of building : Commercial & Industrial mixed
Comments : Serves as
office, factory 1 and warehouse.
Previous address : 4Fl San Lien Bldg 560 Chung Hsiao East Rd Section 4,
Taipei City 110
*Factory Contact Details*
===================
Address : 45, Lane 862, Chung Cheng Rd Section 2
Zip : 717
Suburb : Jente Hsiang
State : Tainan Hsien
Tel : [+886] 6-2792711
Fax : [+886] 6-2702019
*Factories, Size & Locations*
======================
Maintains the following factories:
Jen Te Factory (Factory 2)
------------------------------------
Land size : 470,000 sq feet
Land area : 47 hectares
Location : Outer of Tainan City
Year established : 1970
Polyester Staple Fiber Plant (Factory 3)
----------------------------------------------------
Year established : 1973
Taitzu Polyester Filament Plant (Factory 4)
--------------------------------------------------------
Land size : 180,000 sq feet
Land area : 18 hectares
Location : Outer of Tainan City
Year established : 1984
Hsinshih Factory (Factory 5)
---------------------------------------
Land size :
100,000 sq feet
Land area : 10 hectares
Location : Outer of Tainan City
Year established : 1986
*Corporate & Organization Structure*
=============================
A large sized company operated and managed by an experienced team of
professionals.
Organization and management of the company is divided into several
departments:
Department In-Charged Telephone nos. Fax nos. E-mail address
---------------- ---------------
---------------------
-----------
--------------------
1. Spinning Yarn Sales Mr.
Hsiu 06-2376161 ext 405 06-2356629 yarnsale@tainanspin.com.tw
2. Chemical Fiber Sales Mr.
Kao 06-2376161 ext 462 06-2372815 polysale@tainanspin.com.tw
3. Procurement
Mr. Wu 06-2376161
ext 522 06-2086213 buyer@tainanspin.com.tw
ORGANIZATIONAL CHART
---------------------------------------
Board of Directors
|
President
|
Vice President
&
Chairman
|
General Manager
|
|---------------------------------General
Manager
| Room
| |
CEO
|-------------------------------------------|
|
| | |
| Auditing Department | Investment
Department
| |
Vice General Manager |
| |------------------------------------------|
|
|
|
| Quality Assurance Marketing & Planning
| Department Department
|
Development Association--------|------Assistance
|
|---------------------------------------------------------------------------------------------------------------------------------|
|
| | | | | |
| | | |
| | |
Secretariat |
People | Textile Sales | Chemical |
General | Materials | Financial |
| Relationship | Dept. | Fiber | Affairs | & | Dept. |
| Dept. | | Dept. | Dept. | Supplies | |
| | | | | Dept. |
|
| | | | | | |
Accounting Chemical Tai-tzu
Jen-teh Hsin-shih Taipei Overseas
Dept. Fiber Factory Factory
Factory Office Branches
Factory
*Industry Ranking*
===============
(1)
Considered as 9th of the largest man-made fiber manufacturer and was
also ranked as 44th among Taiwan's largest manufacturer.
(2)
Ranked 51st among Taiwan's largest manufacturing corporations in 1992.
(3)
Generally regarded as one of the Top 1000 Companies in Manufacturing
Industry of Taiwan, details of rank are
as follows:
Year Rank
------- ---------
1999 115
2000 116
2001 122
*Sales Ranking*
=============
Details of rank are as follows:
Year Rank
------ ------
1996 65
1997 70
1998 92
*Auditors*
=========
PRICEWATERHOUSECOOPERS LTD
*Registrar*
=========
TAINAN SPINNING CO LTD
*Subcontractors*
==============
Company name : THREE H TAIWAN
INDUSTRIES CORP
Work performed: Designing, installing, and maintaining fire protection
system in petrochemical factory.
www.tainanspin.com.tw The design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
E-mail: general@mail.tainanspin.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 %
Mr. Po-yi Hou Taiwan 91,947,746.00 n/a n/a
Mr. Po-yu Hou Taiwan 91,797,471.00 n/a n/a
Mr. Po-ming Hou Taiwan 88,080,752.00 n/a n/a
Mrs. Pi-hua Hou Chen Taiwan 23,483,205.00 n/a n/a
CHENG LUNG Taiwan
15,966,608.00 n/a n/a
INVESTMENT CO LTD
JANG TEH INVESTMENT Taiwan
14,075,385.00 n/a n/a
CO LTD
Mr. Kuo-ying Chen Taiwan 9,874,434.00 n/a n/a
YUNG YUAN Taiwan
9,649,910.00 n/a n/a
INVESTMENT CO LTD
Mr. Kao-hui Cheng Taiwan 8,963,184.00 n/a n/a
Mr. Hung-liang Wu Taiwan 8,468,573.00 n/a n/a
Mrs. Miao-yu Cheng Hung Taiwan 7,013,638.00 n/a n/a
TAI PO INVESTMENT Taiwan
5,780,419.00 n/a n/a
CO LTD
YU PANG INVESTMENT Taiwan
4,627,655.00 n/a n/a
CO LTD
KUANG WEI Taiwan
3,922,346.00 n/a n/a
INVESTMENT CO LTD
Mr. Wu-chung Hou Taiwan 3,416,725.00 n/a n/a
Mr. Ching-yuan Kao Taiwan 2,015,669.00 n/a n/a
Mr. Kuo-chen Chen Taiwan 2,006,769.00 n/a n/a
Mr. Wen-teng Hou Taiwan 1,702,685.00 n/a n/a
Mr. Hsin-hung Yeh Taiwan
1,475,321.00 n/a n/a
Mr. Yu-feng Yen Taiwan 1,282,731.00 n/a n/a
Mr. Chih-sheng Hou Taiwan 432,660.00 n/a n/a
Mr. Shu-min Wu Taiwan 303,124.00 n/a n/a
Mrs. Chin-chien Hou Su Taiwan 54,491.00 n/a n/a
Ms. Yi-chen Chang Taiwan 15,161.00 n/a n/a
Ms. Ching-hua Ho Taiwan 10,000.00 n/a n/a
Mr. Keng-min Lin Taiwan 181.00 n/a n/a
Management: Mr. Ming-chen Liu,
Manager
Mr. Cheng-ho Chen, Assist. Manager
Mr. Hua-tang Cheng, Assist. Manager
Name Nationality
Job Description Dept. / Division
Mr. Ming-chen Liu Taiwanese
Manager Finance
Mr. Cheng-ho Chen Taiwanese Assist. Manager -
Mr. Hua-tang Cheng Taiwanese Assist. Manager -
Ms. Li-lin Cheng Taiwanese
Assist. Manager -
Mr. Po-ming Hou Taiwanese
General Manager -
Mr. Yuan-hung Peng Taiwanese Manager -
Mr. Kao-hui Cheng Taiwanese
President -
Mr. Jui-teh Huang Taiwanese
Vice General Manager -
Mr. Meng-sheng Liao Taiwanese Vice General Manager -
Mr. Tung-yuan Yang Taiwanese Vice General Manager -
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Kao-hui Cheng
Nationality : Taiwanese
Country of Residence : Taiwan
2
Name : Mr. Ying-nan Chuang
Nationality : Taiwanese
*Main Products & Services*
======================
Specializes in three main areas of work:
1. Importing of textile used chemicals.
2. Manufacturing of weave cloths and other related products.
3. Sales and distribution of manufactured products to local and
international markets.
Manufacture under the following brands:
- TONY JEANS
- TONY WEAR
Products: Acetic acid
Alcohol,
acetic
Blended yarns
Card clothing
Carded cotton
yarns
*Brand*
======
EMELY
NANLON
TAITZLON
*Payment Terms*
=============
Sales
-------
Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
Local : Cash
30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Quality Certification*
=================
Obtained the following certifications:
(1)
Type of certification : ISO-9002
Year of certification : 1994
Other details :
JenTeh Spinning Plant and Polyester Staple Fiber Plant passed the certificate.
(2)
Type of certification : ISO-9002
Year of certification : 1995
Other details :
Taitzu Polyester Filament Plant and Hsinshih Spinning Plant passed the
certificate.
(3)
Type of certification : ISO-14001
Year of certification : 1999
Other details :
Taitzu Polyester Filament Plant and Polyester Staple Fiber Plant passed the
certificate.
*Machinery & Equipment*
====================
Machinery/ Equipment include:
Machine/Equipment
Brand Model Quantity
-------------------------
--------
------------
---------------
Computer
IBM S38
Spinning Jenny
- - 119,000 units
*Production Capacity*
==================
Year : 2007
Item
Maximum Capacity Current
Capacity
-------
-------------------------- -----------------------
OE Yarn
30,000 spindle
35,036 spindle
Cotton yarn
180,000 spindle
194,451 spindle
Polyester cotton
75,600 tons
85,716 tons
Ployester 54,000 tons 52,220 tons
Silk raw
77,400 tons
75,366 tons
Silk raw with filature 14,400
tons 14,623 tons
Other products:
Item
Tons per day
------
-------------------
Polyester-Pre-Oriented Yarn 210
Polyster Stable Fiber 250
Chip 180
Spinning:
Ring spinning 161,952 spindles
OE spinning 2,592 spindles
*Association*
===========
Member of :
- Taiwan Man-Made Fiber Industries Association
*Competitors*
===========
-The following .locally based companies supply similar range of products
:
- HAO JEY CO LTD
- NEW SITE INDUSTRIES INC
- TY FASHION INT'L CO LTD
- WONDERWAY ENTERPRISES LTD
- SHINKONG SPINNING CO LTD
- FORTUNE TEXTILE CO LTD
- DAH CHICH ENTERPRISE CO LTD
- JOHNSON LACE CO LTD
- CHYANG SHENG DYEING & FINISHING CO LTD
- CRINKLE TEXTILE CO LTD
- LEALEA ENTERPRISE CO LTD
- HUALON CORP
- SUNTEX FIBER CO LTD
- CHAIN YARN CO LTD
- GEMLOOM TEXTILE CO LTD
*Local Distribution Network*
=======================
50% of the annual turnover is attributed to local sales.
*Export Markets*
==============
50% of the annual turnover is attributed to export.
*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
------ ----------
2001 148
2002 134
2003 137
2004 135
2005 136
2006 203
2007 231
*LOCAL BRANCHES & MANAGEMENT*
================================
Branch : TAINAN SPINNING CO LTD - TAIPEI CITY
Branch Address : 10Fl, 9 Sung Kao Rd Hsin-i Dist, Taipei City, 110
Branch Tel : [+886] 2-27589888
Branch Fax : [+886] 2-27582804
Branch Employees : 182
Branch : TAINAN SPINNING CO LTD (FACTORY 5) - HSINSHIH HSIANG
Branch Address : 111 Chung Hua Rd Yung Chiao Village Hsinshih Hsiang,
Tainan Hsien 744
Branch Tel : [+886] 6-5982611
Branch Employees : 263
Branch : TAINAN SPINNING CO LTD (FACTORY 4) - JENTE HSIANG
Branch Address : 419 Chung Cheng Rd Section 3 Jente Hsiang, Tainan Hsien
717
Branch Tel : [+886] 6-2724421
Branch Fax : [+886] 6-2724401
Branch Employees : 296
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name : GRAND BILLS FINANCE CORP
Address : 11Fl San Lien Bldg 560 Chung Hsiao East Rd Section 4 Hsin-i
Dist Taipei City 110 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Public Company
Company Type : Service
Industry : Financial Services - General
Company Name : NAN FAN CONSTRUCTION CO LTD
Address : 4Fl, 90 Chung Shan Rd Central Dist Tainan City 700 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Construction & Construction Materials
Company Name : NAN FAN INT'L INVESTMENT LTD
Address : PO Box 2804 Georgetown KY11112 Grand Cayman Cayman Islands
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : NAN FAN SPINNING LTD
Address : Nhon Trach II Industrial Zone Nhon Trach Dong Nai Vietnam
Country : Vietnam
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Textiles & Raw Material
Company Name : NANTEX INDUSTRY CO LTD
Address : Lin Yuan Industrial Park 9 Industrial 1st Rd Linyuan Hsiang
832 Kaohsiung Hsien Taiwan
Country : Taiwan
Relationship : Invested Entity - Minor Equity
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Rubber & Products
Company Name : PRESIDENT ENERGY DEVELOPMENT LTD
Address : Seven Miles Beach Grand Cayman Cayman Islands
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : SCINO PHARM TAIWAN LTD
Address : Southern Taiwan Science Park Nanke 8th Rd Shanhwa Chen 741
Tainan Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Trader
Industry : Medical Equipment & Pharmaceutical
Company Name : SUN STEEL JSC
Address : Rd 743 Dong An Hamlet Tan Dong Hiep Commune Di An Dist Binh Duong
Vietnam
Country : Vietnam
Relationship : Invested Entity - Minor Equity
Legal Form : Joint Stock Company
Company Type : Manufacturer
Industry : Metals & Metal Products
Company Name : TAINAN SPINNING CO LTD
Address : Bien Hoa 2 IP Bien Hoa Dong Nai Vietnam
Country : Vietnam
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Textiles & Raw Material
Company Name : TAINAN SPINNING HOLDING LTD
Address : PO Box 31106 Seven Mile Beach Georgetown Grand Cayman Cayman
Islands
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
*Strategic Partners & Alliances*
=========================
Group name :
TAINAN SPINNING Group
Holding company : PRESIDENT
ENERGY DEVELPOMENT LTD
Country :
Cayman Islands (British)
Flagship company : TAINAN
SPINNING CO LTD
Country :
Taiwan
Management center : Tainan,
Taiwan
Group members : -
TAINAN SPINNING CO LTD (Vietnam)
- NAN FAN CONSTRUCTION CO LTD
- HOWARD BEACH RESORT KENTING CO LTD
- NANTEX INDUSTRY CO LTD
*OVERSEAS AGENTS AND DISTRIBUTORS*
====================================
Agent : AAFLOAT TEXTILES (INDIA) LTD
Country of Origin : India
PAYMENT RATING : 2 OBTAINED SCORES :
84
|
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
SWIFT Code : BKTWTWTP
Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist,Taichung City
Branch Address : 38 Tzu Yu Rd Section 2
SWIFT Code : CCBCTWTP
Balance Sheet
Currency : NTD
Denomination : In Thousand
2007 2006
------------------- -------------------
Current Assets
4,752,068
3,601,419
Funds & long-term
investments 9,223,682 8,432,325
Property 11,254,119 11,489,182
Other Assets
4,444,459
4,443,934
Current Liabilities (Before)
1,778,386
1,219,951
(After)
1,778,386
1,611,678
Other Liabilities
4,697,416
4,700,293
Common stock
14,935,240
14,935,240
Capital Reserve 75,446
76,887
Retained Earnings (Before)
4,242,169
2,929,188
(After) 4,242,169 2,537,461
Total Assets 29,732,383 28,042,331
Total Liabilities (Before)
6,475,802
5,920,244
(After) 6,475,802 6,311,971
Total Shareholder's Equity
(Before) 23,256,581 22,122,087
(After) 23,256,581 21,730,360
Income Statement
Currency : NTD
Denomination : In Thousand
2007 2006
------------------- -------------------
Operating revenue
12,273,037
11,441,972
Gross Profit 1,418,407 941,930
Operating Income
637,874
94,510
Non-operating income
1,324,036
879,851
Non-operating expense
21,764 399,544
Net Income
1,704,707.00 451,138.00
Earnings (losses)
per share (After) 1.14 0.3
*Financial Ratios*
==============
2007 2006
-------------------
-------------------
Ratio of liabilities to Assets % 21.78 21.11
Ratio of long-term capital 206.65 192.55
to fixed Assets %
Current ratio % 267.21 295.21
Quick ratio % 141.21 144.42
Interest coverage 618.88 30.18
Turnover of receivable (times) 8 10
Average collection period of receivable 48.15
35.33
Turnover of inventories (times) 5.57 5.08
Turnover of expense (times) 11 12
Average days of sales 65.53 71.85
Turnover of total assets (times) 0.41 0.41
Return on total assets % 5.73 1.61
Operating Income 4 1
Net Income before tax 12.99 3.85
Profit margin % 13.89 3.94
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
1996 $441,481,481.48 $1,081,481,481.48 $18,219,259.26
1997 $457,777,777.78 $1,128,148,148.15 $36,682,666.67
1998 $340,333,333.33 $1,038,666,666.67 $446,900.00
1999 $302,051,156.25 $998,357,750.00 $5,600,875.00
2000 $324,305,349.92 $949,052,970.45 $456,982.89
2001 $274,132,733.60 $849,479,541.50 -$28,261,607.66
2002 $313,396,694.45 $837,054,383.44 $21,580,971.54
2003 $340,722,750.87 $836,576,614.76 $26,069,896.19
2004 $451,796,060.15 $833,713,804.51 $24,951,909.77
2005 $447,634,123.22 $901,557,187.99 $676,966.82
2006 $345,887,908.10 $847,712,545.34 $13,637,787.18
2007 $370,339,076.64 $897,175,105.61 $51,439,559.44
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
1996 $0.00 $114,785,185.18
$114,785,185.18
1997 $0.00 $119,022,222.22
$119,022,222.22
1998 $0.00 $88,486,666.67
$88,486,666.67
1999 $105,254,687.50 $110,795,937.50 $216,050,625.00
2000 $94,627,371.70 $69,879,937.79 $164,507,309.49
2001 $66,865,280.09 $89,195,965.06 $156,061,245.15
2002 $66,778,094.34 $152,420,175.40 $219,198,269.74
2003 $67,303,260.99 $151,299,800.00 $218,603,060.99
2004 $60,383,790.02 $240,499,607.01 $300,883,397.03
2005 $67,432,326.00 $245,376,524.01 $312,808,850.01
2006 $51,049,665.99 $173,410,365.99 $224,460,031.98
2007 $40,472,344.00 $160,041,022.99 $200,513,366.99
SC is considered large-sized in its line with a development history of
53 years. Taking into consideration of SC’s general performance, a credit line
up to USD 5,000,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2262 Finish
Man Fiber/Silk Fabric
Exporting 2281 Yarn,
spun, of cotton, man-made fibers, and silk
Exporting 2284 Thread
and handwork yarns
Exporting 2299 Textile
goods,
Exporting 2821 Plastics
materials and resins
Exporting 3199 Leather
goods,
Exporting 3552 Textile
machines, and parts and attachments,
Importing 2800 Chemicals
and Allied Products
Importing 2869 Industrial
organic chemicals,
Importing 2899 Chemical
preparations,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3907 Polyethers,
expoxides & polyesters, primary forms
Exporting 3907600000 Polyethylene terephthalate
Exporting 4204000000 Articles of leather or composition leather used in machinery or
mechanical appliances or for other technical uses
Exporting 5000 Silk,
inc. yarns & woven fabrics thereof
Exporting 5205 Cotton
yarn (not sewing thread) nu 85% cot no retail
Exporting 5205220000 Single combed cotton yarns, greater than or equal to 85 percent
cotton, greater than 14 nm but less than or equal to 43 nm, not put up for
retail sale
Exporting 5206240000 Single combed yarns, of cotton, less than 85 percent by weight
of cotton, greater than 52 nm but less than or equal to 80 nm, not for retail
sale
Exporting 5206420000 Multiple, folded, cabled combed yarns, of cotton, less than 85
percent , greater than 14 nm but less than or equal to 43 nm, not up for retail
sale
Exporting 5402 Synthetic
filament yarn (no sew thread), no retail
Exporting 5402330000 Synthetic filament yarn other than sewing thread, not put up
for retail sale, textured yarn of polyesters
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Synthetic filament
yarn
Exporter Yarns
Exporter Carded cotton
yarns
Exporter Slub yarns
Exporter Polyester chip
fibers
Exporter Polyester
DTY
Exporter Pre-oriented
yarns (POY)
Exporter Fibers, poy
polyester
Exporter Polyester fiber
yarn
Exporter Fancy
yarns
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,Importing
Europe Exporting,Importing
Middle-East Exporting,Importing
Pacific Exporting,Importing
South America Exporting,Importing
Argentina Exporting,Importing
Australia Exporting
Austria Importing
Bangladesh Exporting
Belgium Exporting,Importing
Brazil Exporting
Burkina Faso Importing
Chile Exporting
China Exporting,Importing
Czech Republic Importing
Dominican Republic Exporting
Ecuador Exporting
Egypt Exporting,Importing
France Importing
Germany Importing
Guatemala Exporting
Hong Kong Exporting
India Exporting,Importing
Indonesia Exporting,Importing
Iran Exporting
Israel Exporting
Italy Exporting,Importing
Japan Exporting,Importing
Malaysia Exporting
Mali Importing
Mexico Exporting
New Zealand Exporting
Pakistan Exporting
Paraguay Importing
Peru Exporting
Philippines Exporting
Poland Exporting
Russia Exporting
Saudi Arabia Exporting,Importing
Singapore Exporting,Importing
South Africa Exporting
South Korea Exporting
Sri Lanka Exporting
Swaziland Exporting
Switzerland Importing
Syria Exporting
Thailand Exporting
Turkey Exporting
Turkmenistan Importing
USA Exporting,Importing
United Kingdom Exporting,Importing
Vietnam Exporting,Importing
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.69 |
|
UK Pound |
1 |
Rs.72.96 |
|
Euro |
1 |
Rs.63.46 |
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%)