MIRA
INFORM REPORT
|
Report Date : |
10.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PAI HUEY PLASTIC INDUSTRY CO LTD |
|
|
|
|
Registered Office : |
2 Wen Chung Rd Section 2 Luchu Hsiang
Taoyuan Hsien 338 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
06.11.1981 |
|
|
|
|
Com. Reg. No.: |
43871879 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importing of Raw Materials. Manufacturing of various types of PE shrink films. Sales and Distribution of manufactured products to local and overseas
markets. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name
& address
PAI
HUEY PLASTIC INDUSTRY CO LTD
2 WEN CHUNG RD SECTION 2 LUCHU HSIANG
TAOYUAN HSIEN 338, TAIWAN
TEL: 886-3-3605066 FAX: 886- 3-3605265
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 6, 1981
REGISTRATION NO. :
43871879
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHIN-CHUNG LIU (CHAIRMAN)
STAFF STRENGTH :
21
CAPITAL :
US$ 1,552,795
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*
================
License number : 9962947200
Date issued : 19
March, 1993
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
===============
Size :
1,000 square meter (Approx)
Location :
Taoyuan Hsien
Property status : Rented
Type of building :
Industrial building
Comment : Serves
as office and factory.
*Corporate & Organization Structure*
============================
A small sized company operated and managed by the owner and an experienced
team of professionals.
SC is not known to host website of its own at present.
E-mail: paihuey@ms35.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 2
Total number of shares: n/a
Shareholders Country
Number Amount %
Mr. Chin-chung Liu Taiwan n/a n/a 99.00
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Mr. Chin-chung Liu, General Manager
Name Nationality
Job Description
Mr. Chin-chung Liu Taiwanese
General Manager
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Chin-chung Liu
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Importing of raw materials.
2. Manufacturing of various types of PE shrink films.
3. Sales and distribution of manufactured products to local and overseas
markets.
Products: Cover films
PE (polyethylene)
shrink bags
PE (polyethylene)
shrink films
Pallet shrink
bag
*Payment Terms*
=============
Sales
--------
Local : Cash
30 - 90 days
credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
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*
===========
The following locally based companies supply similar range of products :
- DOW CHEMICAL TAIWAN LTD
- INTLPAK ENTERPRISES CORP
- MAGICAL FILM ENTERPRISE CO LTD
- PAO YAN TSAE YIH CO LTD
- UB OFFICE SYSTEMS INC
*Local Distribution Network*
=======================
98% of the annual turnover is attributed to local sales.
*Export Markets*
=============
2% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
63
|
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 : BANK
OF TAIWAN
Branch :
Luchu Hsiang,
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)
==============================
Year Sales Net
Income
2007 $19,674,109.84 $1,478,575.74
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2005 $6,460,000.00 $460,000.00 $6,920,000.00
2006 $6,820,000.00 $190,000.00 $7,010,000.00
2007 $9,090,000.00 $330,000.00 $9,420,000.00
SC is considered small-sized in its line with a development history of
27 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
Manufacturing 3000 Rubber
& Misc. Plastics
Manufacturing 3081 Plastics
film, strips, and sheets, unsupported
Manufacturing 3089 Plastics
products,
Trading 3000 Rubber
& Misc. Plastics
Trading 3081 Plastics
film, strips, and sheets, unsupported
Trading 3089 Plastics
products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3920100000 Other plates,sheets,film,foil & strip,of plastic,
noncelluar & not reinforced,laminated,supported or combined with oth mat,of
polymers of ethylene
Importing 3901100010 Polyethylene having a specific gravity of less than 0.94,linear
low density polyethylene
Importing 3901901000 Polymers of ethylene in primary form,elastomeric
Importing 3906901000 Other acrylic polymers in primary forms,elastomeric
Manufacturing 3920100000 Other
plates,sheets,film,foil & strip,of plastic, noncelluar & not reinforced,laminated,supported
or combined with oth mat,of polymers of ethylene
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,Importing
Europe Importing
Middle-East Exporting,Importing
North America Importing
Pacific Exporting
Australia Exporting
Austria Importing
Bangladesh Exporting
Belgium Importing
Canada Importing
China Exporting
Hong Kong Exporting
Indonesia Exporting
Japan Importing
Malaysia Importing
Netherlands Importing
Qatar Importing
USA Importing
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%)