MIRA
INFORM REPORT
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Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
FRANK & ASSOCIATES PLASTIC CO LTD |
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Registered Office : |
Kwei-San Industrial Area 33-1 Hsin Bon Rd
Taoyuan City Taoyuan Hsien 330 |
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Country : |
Taiwan |
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Date of Incorporation : |
15.08.1995 |
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Com. Reg. No.: |
89670798 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Local purchasing and importing of various types of polyethylene, polyvinyl
chloride and related chemicals for in-house use. Manufacturing a wide range of foils, films, warps and related plastic
products. Selling to domestic and international market. |
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 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
FRANK
& ASSOCIATES PLASTIC CO LTD
KWEI-SAN INDUSTRIAL AREA 33-1 HSIN BON RD
TAOYUAN CITY TAOYUAN HSIEN 330, TAIWAN
TEL: 886-3-3712368 FAX: 886-3-3712328
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 15, 1995
REGISTRATION NO. :
89670798
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHUNG-HU LIN (CHAIRMAN)
STAFF STRENGTH :
72
CAPITAL :
US$ 9,316,770
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 150,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.49831 = 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 : 9968733400
Date issued : 2
December, 2003
Issuing authority :
Industrial Development Bureau, MOEA
*Office & Facilities*
================
Size :
10,023 sq. meters (Approx)
Location :
Taipei City
Type of building :
Industrial building
Property status : Owned
by FRANK & ASSOCIATES PLASTIC CO LTD
Comment : Serves
as office and factory
Other Contact Details
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E-mail : service@fap.com.tw
Website : www.fapfilm.com
Previous Contact Details
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Address : Lin Kou Kung 2nd
Industrial Park 4 Kung 7th Rd, Linkou Hsiang, Taipei Hsien, 244
Tel no. : 2-26037796
Fax no. : 2-26017735
*Corporate & Organization Structure*
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A medium sized company operated and managed by the owner and an
experienced team of professionals.
www.fap.com.tw
SC’s website is unable to be landed at present for the technical reason.
E-mail: fatech98@ms19.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 4
Total number of shares: N/A
Shareholders Country Number Amount %
Ms. Shu-chen Lin Taiwan n/a n/a n/a
Mr. Chung-hu Lin Taiwan 7,605,594.00 n/a n/a
Ms. Chin-hsiu Tsai Taiwan
4,365,321.00 n/a n/a
Ms. Lien-chun Chiu Taiwan 508,290.00 n/a n/a
Management: Mr. San-jung Wei,
Representative
Ms. Chin-hsiu Tsai, Manager
Name Nationality
Job Description Dept. / Division
Mr. San-jung Wei Taiwanese
Representative Sales
Ms. Chin-hsiu Tsai Taiwanese
Manager -
*COMPANY DIRECTORS*
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1
Name : Mr. Chung-hu Lin
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of work :
1. Local purchasing and importing of various types of polyethylene,
polyvinyl chloride and related chemicals for in-house use.
2. Manufacturing a wide range of foils, films, warps and related plastic
products.
3. Selling to domestic and international market.
Products: Anti-static films
Automatic
materials
Breathable
films
EVA
LDPE-Low density
polyethylene
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchase
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Associations*
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Member of :
- The Taiwan Plastics Industry Association
*Competitors*
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The following locally based companies supply similar range of products:
- CHIU LIH PLASTIC CO LTD
- SWANSON PLASTICS CORP
- ALLIANCE MATERIAL CO LTD
- TAIWAN HON CHUAN ENTERPRISE CO LTD
- UNIVACCO TECHNOLOGY INC
*Local Distribution Network*
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Approximately 90% of the annual turnover is attributed to local sales
achieved through direct sales to local manufacturers, as well as to local
trading houses which also export.
*Export Markets*
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Approximately 10% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES :
55
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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 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*
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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
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,Taipei City
Branch Address : 77 Kuan Chien Rd Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : TACBTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $5,733,252.87 $8,449,004.22 $171,997.59
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $4,521,023.00 $35,411.97 $4,556,434.97
2006 $6,532,145.98 $532,153.99 $7,064,299.97
2007 $4,765,321.00 $321,456.00 $5,086,777.00
SC is considered small-sized in its line with a development history of 13
years. Taking into consideration of SC’s general performance, a credit line up
to USD 150,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2673 Plastics,
foil, and coated paper bags
Exporting 2821 Plastics
materials and resins
Exporting 3081 Plastics
film, strips, and sheets, unsupported
Exporting 3089 Plastics
products,
Manufacturing 2673 Plastics,
foil, and coated paper bags
Manufacturing 2821 Plastics
materials and resins
Manufacturing 3081 Plastics
film, strips, and sheets, unsupported
Manufacturing 3089 Plastics
products,
Trading 2821 Plastics
materials and resins
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3900 Plastics
& articles thereof
Exporting 3901100010 Polyethylene having a specific gravity of less than 0.94,linear
low density polyethylene
Exporting 3920992000 Film,strip & sheets,noncelular,not reinforced,etc,of other
plastics, flexible,
Exporting 3921 Plates,
sheets, film, foil & strip, plastics
Exporting 3921190000 Plates,sheets,film,foil & strip,cellular,of other plastics
Importing 3901200000 Polyethylene having a specific gravity of 0.94 or more
Manufacturing 3900 Plastics
& articles thereof
Manufacturing 3901100010 Polyethylene
having a specific gravity of less than 0.94,linear low density polyethylene
Manufacturing 3920992000 Film,strip
& sheets,noncelular,not reinforced,etc,of other plastics, flexible,
Manufacturing 3921 Plates,
sheets, film, foil & strip, plastics
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Polyethylene
copolymer films
Exporter Protection
films
Exporter Release
films
Exporter Skin wrap
Exporter Protective
film
Exporter Printing
films
Exporter Plastic
foils
Exporter Lamination
films
Exporter Laminating
films
Exporter LDPE-Low density
polyethylene
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Importing
Middle-East Importing
North America Exporting,Importing
Canada Importing
Thailand Importing
USA Exporting
United Arab Emirates Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.22 |
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UK Pound |
1 |
Rs.73.03 |
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Euro |
1 |
Rs.63.14 |
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%)