MIRA
INFORM REPORT
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Report Date : |
10.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
PUN FONG ENTERPRISE CO LTD |
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Registered Office : |
1025 Chung Cheng Rd Section 2 Jente Hsiang
Tainan Hsien 717 |
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Country : |
Taiwan |
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Date of Incorporation : |
20.04.1970 |
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Com. Reg. No.: |
73045882 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of raw materials for in-house OEM and ODM production. Manufacturing various types of shopping bags, frozen vegetable bags
and other related plastic bags. Export and domestic sales of its finished products. |
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 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
PUN
FONG ENTERPRISE CO LTD
1025 CHUNG CHENG RD SECTION 2 JENTE HSIANG
TAINAN HSIEN 717, TAIWAN
TEL: 886- 6-2793515 FAX: 886- 6-2700005
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 20, 1970
REGISTRATION NO. :
73045882
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. MING-CHENG TSENG (CHAIRMAN)
STAFF STRENGTH :
15
CAPITAL :
US$ 931,677
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
*Capital Details*
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Initial registered capital : NTD 26,000,000.00
Capital increase :
NTD 30,000,000.00
*Licenses & Permits*
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License number : 9965788700
Date issued : 1 January, 1971
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Building Size : 800 sq
meter (Approx)
Location : Tainan
Hsien
Facilities :
Modern
Property status : Rented
Type of Building : Industrial
building
Comment : Serves as
office, factory and warehouse.
Other tel no. :
6-2793617
*Corporate & Organization Structure*
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A medium sized specialized company operated and managed by the owner and
a professional management team.
www.punfong.com.tw
The design is professional and the content is well organized. At present it is
in Chinese version.
E-mail: punfong@ms51.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 10
Total number of shares: 1,882,015
Shareholders Country Number Amount %
Mr. Chun-chin Tseng Taiwan 406,096.00 n/a
21.58
Mr. Ying-yen Wu Taiwan 321,922.00 n/a 17.11
Mr. Fan-huei Liu Tseng Taiwan 221,539.00 n/a 11.77
Ms. Chao-mei Tseng Taiwan 198,462.00 n/a
10.55
Mr. Wei-teh Wu Taiwan 174,150.00 n/a 9.25
Ms. Ho-mei Tseng Taiwan 163,650.00 n/a 8.70
Mr. Tien-yi Hung Taiwan 140,042.00 n/a 7.44
Mr. Ming-cheng Tseng Taiwan 130,000.00 n/a
6.91
Ms. Mei-lee Tseng Taiwan 80,000.00 n/a
4.25
Mrs. Chiu-tao Yang Tseng Taiwan 46,154.00
n/a 2.45
Management: Ms. Ching-shiu Hsu,
Manager
Mr. Chun-chin Tseng, Supervisor
Ms. Chao-mei Tseng, Executive Director
Name Nationality
Job Description Dept. / Division
Ms. Ching-shiu Hsu Taiwanese
Manager Sales
Mr. Chun-chin Tseng Taiwanese Supervisor Sales
Ms. Chao-mei Tseng Taiwanese Executive Director -
Ms. Mei-lee Tseng Taiwanese
Executive Director -
Mr. Ming-cheng Tseng Taiwanese General Manager -
Mr. Tien-yi Hung Taiwanese
Supervisor -
*COMPANY DIRECTORS*
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1
Name : Mr. Fan-huei Liu Tseng
Nationality : Taiwanese
2
Name : Mr. Ming-cheng Tseng
Nationality : Taiwanese
Country of Residence : Taiwan
3
Name : Mr. Wei-teh Wu
Nationality : Taiwanese
4
Name : Mr. Ying-yen Wu
Nationality : Taiwanese
5
Name : Mrs. Chiu-tao Yang Tseng
Nationality : Taiwanese
6
Name : Ms. Ho-mei Tseng
Nationality : Taiwanese
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Importing of raw materials for in-house OEM and ODM production.
2. Manufacturing various types of shopping bags, frozen vegetable bags
and other related plastic bags.
3. Export and domestic sales of its finished products.
Products: Apparel bags
Bags, hanging
Bags, polythene-
PVC- PE- PP
Book jackets
Cover coats
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Document against Acceptance (D/A)
Telegraphic
Transfer (T/T)
Purchase
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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:
- PERFECT & FASHIONABLE CREATOR INC
- UEE ZEE ENTERPRISE CO LTD
- ALLEN PLASTIC INDUSTRIES CO LTD
- CHENG CHENG PLASTIC CO LTD
- FINE QUALITY TRADING CO LTD
*Local Distribution Network*
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An estimated 45% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 55% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : CHI MENG
INDUSTRY CO LTD
Address : 76
Ta Deh Rd Hsinhwa Chen 712 Tainan Hsien Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Rubber & 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
MODERATE amounts depending on individual judgement experience.
As a private limited company 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 : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,Taipei City
Branch Address : 77 Kuan Chien Rd Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : TACBTWTP
Bank Name : SUNNY COMMERCIAL BANK CO LTD
SWIFT Code : This bank does not have a SWIFT Code
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $1,297,525.65 $543,150.27 $69,402.53
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $93,000.00 $380,000.00 $473,000.00
2006 $330,000.00 $400,000.00 $730,000.00
2007 $490,000.00 $620,000.00 $1,110,000.00
SC is considered small-sized in its line with a development history of
38 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
Manufacturing 2673 Plastics,
foil, and coated paper bags
Manufacturing 3089 Plastics
products,
Trading 2673 Plastics,
foil, and coated paper bags
Trading 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
Manufacturing 3900 Plastics
& articles thereof
Manufacturing 3901100010 Polyethylene
having a specific gravity of less than 0.94,linear low density polyethylene
Manufacturing 3923 Containers
(boxes, bags etc), closurers etc, plastics
Manufacturing 3923290000 Sacks
& bags(including cones) of other plastics
Trading 3900 Plastics
& articles thereof
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer PP plastic
bags
Manufacturer Plastic bags
Manufacturer HDPE plastic
bags
Manufacturer Vegetable
bags
Manufacturer Ziplock bags
Manufacturer Apparel bags
Manufacturer Cover coats
Manufacturer Book jackets
Manufacturer Bags, hanging
Manufacturer Self-adhesive
bags
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,Importing
Middle-East Importing
North America Exporting
Malaysia Importing
Philippines Exporting
Saudi Arabia Importing
USA Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.12 |
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UK Pound |
1 |
Rs.72.59 |
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Euro |
1 |
Rs.63.52 |
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%)