MIRA
INFORM REPORT
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Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
H & U PLASTIC CO LTD |
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Registered Office : |
77 Tung Feng Rd North Dist Tainan City 704 |
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Country : |
Taiwan |
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Date of Incorporation : |
08.02.1994 |
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Com. Reg. No.: |
84687460 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of raw materials use in the production process. Manufacturing of various types of PE shopping bags and related products. Sales and distribution of products to domestic markets. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 17,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
H
& U PLASTIC CO LTD
97-2 PEI TOU LI MATOU CHEN TAINAN HSIEN 721,
TAIWAN
TEL: 886-6-5700406 FAX: 886-6-5700419
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 8, 1994
REGISTRATION NO. :
84687460
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHIN-HUI TSAI (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 155,280
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 17,000
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
Registered Legal Address: 77 Tung Feng Rd North Dist Tainan City
704
*Licenses & Permits*
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License number : 9965827700
Date issued : 25 May, 1994
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Size : 250 square meters (Approx)
Location : Tainan Hsien
Type of building : Industrial
building
Property status : Rented
Other tel no. : 6-5700407
*Corporate & Organization
Structure*
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A small-sized company operated and managed by the owner.
SC is not known to host website of its own at present.
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: 398,750
Shareholders Country Number Amount %
Ms. Chen-chen Tsai Taiwan 240,000.00 n/a 60.19
Mr. Chin-hui Tsai Taiwan 112,500.00 n/a
28.21
Mr. Chao-yang Lin Taiwan 26,250.00
n/a 6.58
Mr. Kuo-chung Tsai Taiwan 20,000.00
n/a 5.02
Management: Mr. Chin-hui Tsai, General Manager
Name Nationality
Job Description
Mr. Chin-hui Tsai Taiwanese
General Manager
*COMPANY DIRECTORS*
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1
Name : Mr. Chin-hui Tsai
Nationality : Taiwanese
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing of raw materials use in the production process.
2. Manufacturing of various types of PE shopping bags and related
products.
3. Sales and distribution of products to domestic markets.
Products: PE (polyethylene)
PE (polyethylene)
products
PE shopping
bags
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Purchases
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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)
*Competitors*
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The following locally based companies supply similar range of products :
- BENBO BEAR ENTERPRISE CO LTD
- C & J FOREST INDUSTRIAL CO LTD
- CHAI MART ENTERPRISE CO LTD
- CHI LIN TECHNOLOGY CO LTD
- DANNY & HUDSON INC
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
52
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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 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*
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Bank Name : BANK OF TAIWAN
Branch : Matou
Chen,
Branch Address : 120 Chung Ching South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : BKTWTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $2,142,426.07 $147,857.57 $108,630.05
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $1,200,000.00 n/a $1,200,000.00
2006 $1,400,000.00 n/a $1,400,000.00
2007 $1,800,000.00 n/a $1,800,000.00
SC is considered small-sized in its line with a development history of
14 years. Taking into consideration of SC’s general performance, a credit line
up to USD 17,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2821 Plastics
materials and resins
Manufacturing 2673 Plastics,
foil, and coated paper bags
Manufacturing 3089 Plastics
products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3901100010 Polyethylene having a specific gravity of less than 0.94,linear
low density polyethylene
Importing 3901200000 Polyethylene having a specific gravity of 0.94 or more
Manufacturing 3900
Plastics & articles thereof
Manufacturing 3923900000 Articles
for the conveyance or packing of goods,etc,of plastic,
Manufacturing 3926909050 Other
articles of plastic,
Manufacturing 6305310000 Sacks
and bags, of a kind used for the packing of goods: of manmade textile
materials: of polyethylene or polypropylene strip or the like
Manufacturing 6305330000 Sacks
and bags, of a kind used for the packing of goods: of manmade textile
materials: of polyethylene or polypropylene strip or the like
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Importing
Middle-East Importing
North America Importing
Japan Importing
Singapore Importing
Thailand Importing
USA Importing
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%)