MIRA
INFORM REPORT
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Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
TENG KUAN PLASTICS INDUSTRY CO LTD |
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Registered Office : |
1FL, 17, Alley 2, Lane 54, Min Sheng North
Rd Section 1 Kueishan Hsiang Taoyuan Hsien 333 |
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Country : |
Taiwan |
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Date of Incorporation : |
23.06.1987 |
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Com. Reg. No.: |
22520639 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing raw materials of various types of chemicals to hi-tech
polystyrene, foil, propylene for in-house OEM and ODM production Manufacturing a wide range of shrink film, tamper, packing and other
related products. Sales and Distribution of products to both domestic and international
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 55,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
TENG
KUAN PLASTICS INDUSTRY CO LTD
1FL, 17, ALLEY 2, LANE 54, MIN SHENG NORTH
RD
SECTION 1 KUEISHAN HSIANG TAOYUAN HSIEN 333,
TAIWAN
TEL: 886-3-3250617 FAX: 886-3-3255870
EXECUTIVE SUMMARY
INCORPORATION DATE : JUNE
23, 1987
REGISTRATION NO. :
22520639
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. TENG-LUNG LAI (CHAIRMAN)
STAFF STRENGTH :
13
CAPITAL :
US$ 465,839
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 55,000
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*
================
License number : 9962965700
Date issued : 22 July, 1988
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
================
Building size : 744 sq
meters (Approx)
Location : Taoyuan
Hsien
Property status : Owned by
TENG KUAN PLASTICS INDUSTRY CO LTD
Facilities :
Modern
Type of building :
Industrial building
Comments : Serves
as office, factory and warehouse.
Other tel. nos. :
3-3250618-20/3250383
*Corporate & Organization Structure*
=============================
A small sized specialized company operated and managed by the owner.
www.tkpc.com.tw
The design is professional and the content is well organized. At present it is
in Chinese version.
E-mail: t2252063@ms33.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: 1,260,000
Shareholders Country Number Amount %
Mr. Teng-lung Lai Taiwan 650,000.00 n/a 51.59
Ms. Shu-chen Kuo Taiwan 440,000.00 n/a
34.92
Mr. Min-hsiung Kuo Taiwan 120,000.00 n/a
9.52
Ms. Shu-feng Kuo Taiwan 50,000.00
n/a 3.97
Management: Ms. Shu-chen Kuo,
Manager
Mr. Teng-lung Lai, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Shu-chen Kuo Taiwanese Manager Sales
Mr. Teng-lung Lai Taiwanese
General Manager -
*COMPANY DIRECTORS*
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1
Name :
Mr. Teng-lung Lai
Nationality :
Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Importing raw materials of
various types of chemicals to hi-tech polystyrene, foil, propylene for in-house
OEM and ODM production
2. Manufacturing a wide range of shrink film, tamper, packing and other
related products.
3. Sales and distribution of products to both domestic and international
markets.
Products: Aluminum foil vacuums
Automatic packaging
films
Conductive
bags
Electrostatic
bags
PE (polyethylene)
shrink films
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
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:
- BENISON & CO LTD
- CHI WEI ENTERPRISE CO LTD
- KAO-CHIA PLASTICS CO LTD
- ALLEN PLASTIC INDUSTRIES CO LTD
- DOMINANT SUPPLY CORP
*Local Distribution Network*
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An estimated 92% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 8% of the annual turnover is attributed to export.
*LOCAL BRANCHES & MANAGEMENT*
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Branch :
TENG KUAN PLASTICS INDUSTRY CO LTD
Branch Address : 6, Lane
54, Min Sheng North Rd Section 1 Kueishan Hsiang, Taoyuan Hsien 333
Branch Employees : 2
PAYMENT RATING : 3 OBTAINED SCORES :
56
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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.
*BANK DETAILS*
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Bank Name : CHANG
HWA COMMERCIAL BANK LTD
Branch :
Central Dist,Taichung City
Branch Address : 38 Tzu
Yu Rd Section 2 Central Dist Taichung City 400 (Head Office)
SWIFT Code : CCBCTWTP
Bank Name : TAIWAN BUSINESS
BANK
Branch : Tatung
Dist,Taipei City
Branch Address : International Department 3Fl, 30 Ta Cheng St Tatung
Dist Taipei City 103 (Head Office)
SWIFT Code : MBBTTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $2,836,451.42 $663,850.33 $105,612.55
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $690,000.00 $100,000.00 $790,000.00
2006 $1,400,000.00 $130,000.00 $1,530,000.00
2007 $1,900,000.00 $160,000.00 $2,060,000.00
SC is considered small-sized in its line with a development history of 21
years. Taking into consideration of SC’s general performance, a credit line up
to USD 55,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 2673 Plastics,
foil, and coated paper bags
Manufacturing 3081 Plastics
film, strips, and sheets, unsupported
Manufacturing 3089 Plastics
products,
Trading 2673 Plastics,
foil, and coated paper bags
Trading 3081 Plastics
film, strips, and sheets, unsupported
Trading 3089 Plastics
products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 3900 Plastics
& articles thereof
Manufacturing 3901 Polymers
of ethylene, in primary forms
Manufacturing 3901100010 Polyethylene
having a specific gravity of less than 0.94,linear low density polyethylene
Manufacturing 3920 Plates,
sheets, film etc no ad, non-cel etc, plastics
Manufacturing 3920630000 Plates,
sheets, film, etc, noncellular, not reinforced, laminated, combined, of
unsaturated polyesters
Manufacturing 3921 Plates,
sheets, film, foil & strip, plastics
Manufacturing 3921905050 Plates,sheets,film,foil
& strip,plas,ex cellular,ex flexible
Manufacturing 3923 Containers
(boxes, bags etc), closurers etc, plastics
Manufacturing 3926909050 Other
articles of plastic,
Trading 3900 Plastics
& articles thereof
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Aluminum foil
vacuums
Manufacturer PE (polyethylene)
shrink films
Manufacturer Tamper
Trader Automatic
packaging films
Trader PE heat
shrinkable films
Trader Vacuums
Trader Conductive
bags
Trader Electrostatic
bags
Trader Aluminum foil
vacuums
Trader PE
(polyethylene) shrink films
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting
Middle-East Importing
North America Importing
Malaysia Importing
Qatar Importing
Saudi Arabia Importing
USA Importing
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.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%)