MIRA
INFORM REPORT
|
Report Date : |
10.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KAO-CHIA PLASTICS CO LTD |
|
|
|
|
Registered Office : |
534 Chung Cheng Rd Section 2 Hu-Nei Hsiang Kaohsiung Hsien 829 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
03.07.1980 |
|
|
|
|
Com. Reg. No.: |
23800243 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Import of raw materials for plastic products. Manufacture of T-Shirt Bags (HDPE) and Merchandise Bags (HDPE, LDPE)
incorporating some of the raw materials imported. Sales and distribution of finished products to local and overseas
markets. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 50,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name & address
KAO-CHIA
PLASTICS CO LTD
534 CHUNG CHENG RD SECTION 2
HU-NEI HSIANG KAOHSIUNG HSIEN 829, TAIWAN
TEL: 886-7-6908022 FAX: 886- 7-6907807
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 3, 1980
REGISTRATION NO. :
23800243
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. LAO-TEH WANG (CHAIRMAN)
STAFF STRENGTH :
45
CAPITAL :
US$ 1,118,012
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 50,000
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 : 99662027
Date issued : 31
December, 1990
Issuing authority : Industrial
Development Bureau, MOEA
Licence type : Factory
Licence
*Office & Facilities*
================
Size : 350 square meter (Approx)
Location :
Kaohsiung Hsien
Property status : Rented
Type of building : Industrial
building
Comment : Serves as
office and factory.
Other contact details:
----------------------------
Telephone nos: 7-6908024
Email :
wang@kaochia.com.tw
kc07@ms43.hinet.net
*Corporate & Organization
Structure*
============================
A medium specialized company operated and managed by the owner and
family members.
www.kaochia.com.tw
The design is professional and the content is well organized. At present it is
in English and Chinese versions.
E-mail: kaochia@kaochia.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 4
Total number of shares: 11,480
Shareholders Country
Number Amount %
Mr. Lao-kuan Wang Taiwan 3,760.00 n/a 32.75
Ms. Chin-chu Sung Taiwan 3,120.00 n/a 27.18
Mr. Lao-chang Wang Taiwan 2,880.00 n/a 25.09
Mr. Lao-teh Wang Taiwan 1,720.00 n/a 14.98
Management: Ms. Chiu-e Wang,
Manager
Mr. Zhi-jie Wang, Manager
Mr. Chih-yao Wang, Support Management
Name Nationality
Job Description Dept. / Division
Ms. Chiu-e Wang Taiwanese
Manager Finance
Mr. Zhi-jie Wang Taiwanese
Manager Sales
Mr. Chih-yao Wang Taiwanese Support Management Sales
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Lao-teh Wang
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
=======================
Specializes in the following areas of work :
1. Import of raw materials for plastic products.
2. Manufacture of T-Shirt Bags (HDPE) and Merchandise Bags (HDPE, LDPE)
incorporating some of the raw materials imported.
3. Sales and distribution of finished products to local and overseas
markets.
Products: HDPE & LDPE shopping bags
Merchandise
bags
PE (polyethylene)
masking film
PE bags
PE films,
plastic
*Brand*
======
KC
*Payment Terms*
=============
Sales
------
Local : 30-60 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
Local : 30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Competitors*
===========
The following locally based companies supply similar range of products:
- BENISON & CO LTD
- CHI WEI ENTERPRISE CO LTD
- TENG KUAN PLASTICS INDUSTRY CO LTD
- ALLEN PLASTIC INDUSTRIES CO LTD
- DOMINANT SUPPLY CORP
- POLYSHOW INDUSTRY CO LTD
- PAO YAN TSAE YIH CO LTD
- FANEMILY INC
- PROSPARK ENTERPRISE CO LTD
- SWANSON PLASTICS CORP
- YEZU ENTERPRISE CO LTD
*Local Distribution Network*
=====================
80% of the annual turnover is attributed to local sales.
*Export Markets*
=============
20% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
53
|
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
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*
===============
Bank Name : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,Taipei City
Branch Address : 10Fl, 30 Chungking South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : FCBKTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $715,147.86 $633,675.32 $111,044.06
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2005 $0.00 $69,000.00 $69,000.00
2006 $83,000.00 $27,000.00 $110,000.00
2007 $150,000.00 $87,000.00 $237,000.00
SC is considered small-sized in its line with a development history of 28
years. Taking into consideration of SC’s general performance, a credit line up
to USD 50,000 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 3089 Plastics
products,
Importing 2821 Plastics
materials and resins
Manufacturing 2673 Plastics,
foil, and coated paper bags
Manufacturing 3089 Plastics
products,
Manufacturing 5162 Plastics
Mat'ls/Basic Forms
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3900 Plastics
& articles thereof
Exporting 3923210000 Sacks & bags(including cones) of polymers of ethylene
Exporting 3923210080 Sacks & bags(including cones) of polymers of ethylene, with
on single side exceeding 75mm in length
Exporting 3923210090 Sacks and bags (includiing cones) of polymers of ethylene
except reclosable with integral extrluded closure
Importing 3901100010 Polyethylene having a specific gravity of less than 0.94,linear
low density polyethylene
Importing 3926 Articles
of plastics (inc polymers & resins)
Manufacturing 3900 Plastics
& articles thereof
Manufacturing 3901100010 Polyethylene
having a specific gravity of less than 0.94,linear low density polyethylene
Manufacturing 3923210000 Sacks
& bags(including cones) of polymers of ethylene
Manufacturing 3923210080 Sacks
& bags(including cones) of polymers of ethylene, with on single side
exceeding 75mm in length
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Plastic raw
materials
Manufacturer Plastic bags
Manufacturer PS (polystyrene)
sheets
Manufacturer PE (polyethylene)
masking film
Manufacturer PE films,
plastic
Manufacturer Merchandise
bags
Manufacturer Plastic
products
Manufacturer PE bags
Manufacturer HDPE & LDPE
shopping bags
Manufacturer Plastic t-shirt
bags
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting
Europe Exporting
Middle-East Importing
North America Exporting
China Exporting
Singapore Exporting
Thailand Exporting
USA Exporting
United Arab Emirates Importing
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.12 |
|
UK Pound |
1 |
Rs.72.59 |
|
Euro |
1 |
Rs.63.52 |
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%)