MIRA
INFORM REPORT
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Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
TONG DAH PLASTICS CO LTD |
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Registered Office : |
629 Tung Ying Rd East Dist Taichung City 401 |
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Country : |
Taiwan |
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Date of Incorporation : |
05.04.1962 |
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Com. Reg. No.: |
51319401 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and local purchasing of raw material for in-house use. Manufacturing of various types of plastic products. Sales and distribution of products to domestic market. |
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 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
TONG
DAH PLASTICS CO LTD
629 TUNG YING RD EAST DIST
TAICHUNG CITY 401, TAIWAN
TEL: 886- 4-22116385 FAX: 886- 4-22125530
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 5, 1962
REGISTRATION NO. :
51319401
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. WU-JEN LIN (CHAIRMAN)
STAFF STRENGTH :
7
CAPITAL :
US$ 854,037
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 10,000
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 : 9967105600
Date issued : 9 August,
1969
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
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Size :
1,160 square meters (Approx)
Location : Taichung City
Type of building :
Industrial building
Property status :
Rented
Comments : Serves
as office and factory
Other tel no. :
4-22118384
Previous address : 28 Shih Chia
Lane Shih Chia Li Taichung City 401 Taiwan
*Corporate & Organization
Structure*
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A small -sized company operated and managed by an experienced team of
professionals.
http://60.249.113.97/eastgreat/ The design is professional and the content is well organized. At present
it is in Chinese version.
E-mail: tongdah@surcheer.com.tw
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 %
Mr. Yu-chi Liu Taiwan n/a n/a n/a
Ms. Pi-chu Lin Taiwan n/a n/a n/a
Ms. Pi-hsueh Lin Taiwan n/a n/a n/a
Mr. Wu-jen Lin Taiwan 1,950.00 n/a n/a
Management: Mr. Wu-jen Lin, General Manager
Name Nationality
Job Description
Mr. Wu-jen Lin Taiwanese General Manager
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing and local purchasing of raw material for in-house use.
2. Manufacturing of various types of plastic products.
3. Sales and distribution of products to domestic market.
Products: Die rut handle
Double draw string
handle
Loop handle
bags
PE (polyethylene)
bags
Packaging
films
*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)
*Competitors*
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The following locally based companies supply similar range of products :
- PUN FONG ENTERPRISE CO LTD
- SAN HORNG PLASTIC CO LTD
- UEE ZEE ENTERPRISE CO LTD
- ALLEN PLASTIC INDUSTRIES CO LTD
- CHANG CHUN PLASTICS CO LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales direct to local
traders which export under their own corporate entities.
*(Subsidiaries, Joint-ventures & Affiliates)
===========================
Company Name : SURCHEER INDUSTRIAL CO LTD
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Industry : Professional Services
Company Name : TONG DAH PLASTICS CO LTD
Country : USA
Relationship : Affiliate
Legal Form : Private company with limited liability
Industry : Plastics & Products
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 : 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
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $663,850.33 $99,577.55 $49,788.77
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $260,000.00 n/a
$260,000.00
2006 $330,000.00 n/a
$330,000.00
2007 $190,000.00 n/a
$190,000.00
SC is considered small-sized in its line with a long history. Taking
into consideration of SC’s general performance, a credit line up to USD 10,000
appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 2821 Plastics
materials and resins
Manufacturing 3081 Plastics
film, strips, and sheets, unsupported
Manufacturing 3089 Plastics
products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 3900 Plastics
& articles thereof
Manufacturing 3919901000 Self-adhesive
plates, sheets, film, foil, tape, etc, of plastic, having a light reflecting
surface produced by glass grains (ballotini)
Manufacturing 3921 Plates,
sheets, film, foil & strip, plastics
Manufacturing 3921121950 Plates,
sheets, film, foil & strip, cellular, of polymrs of vinyl chlor, combind w
text materials,
Manufacturing 3923 Containers
(boxes, bags etc), closurers etc, plastics
Manufacturing 3926 Articles
of plastics (inc polymers & resins)
Manufacturing 3926909050 Other
articles of plastic,
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Tubings
Manufacturer Double draw string
handle
Manufacturer Poly draw
handle
Manufacturer Patch handle
bags
Manufacturer Die rut
handle
Manufacturer Vest type
handle
Manufacturer PE (polyethylene)
bags
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Middle-East 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%)