MIRA
INFORM REPORT
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Report Date : |
11.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
POLYSHOW INDUSTRY CO LTD |
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Registered Office : |
1FL, 267 Chung Lin South Rd Hsinchuang City Taipei Hsien 242 |
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Country : |
Taiwan |
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Date of Incorporation : |
07.06.1990 |
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Com. Reg. No.: |
23753277 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Local purchasing and importing of various types of polyethylene, polyvinyl
chloride and related chemicals for in-house use. Manufacturing of various range of PV bags, PE bags and related plastic
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 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
POLYSHOW
INDUSTRY CO LTD
1FL, 267 CHUNG LIN SOUTH RD
HSINCHUANG CITY TAIPEI HSIEN 242, TAIWAN
TEL: 886-2-22022972 FAX: 886-2-22048590
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 7, 1990
REGISTRATION NO. :
23753277
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHEN-KUO YANG (CHAIRMAN)
STAFF STRENGTH :
14
CAPITAL :
US$ 465,839
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 5,000
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 : 9960817800
Date issued : 4
December, 1990
Issuing authority : Industrial
Development Bureau, MOEA
Office & Facilities*
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Size : 286
sq. meters (Approx)
Location :
Taipei County
Type of Building : Industrial
Property status : Rented
Comment : Serves
as office and factory.
*Corporate & Organization Structure*
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A small-sized company operated and managed by the principal owner.
SC is not known to host website of its own at present.
E-mail: polyshow@ms27.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders : 2
Total number of shares : n/a
Shareholders Country Number Amount %
Mr. Chen-kuo Yang Taiwan n/a n/a 99.00
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Mr. Chen-kuo Yang,
Manager
Ms. Lin, Representative
Name Nationality
Job Description
Mr. Chen-kuo Yang Taiwanese Manager
Ms. Lin Taiwanese
Representative
*COMPANY DIRECTORS*
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1
Name : Mr. Chen-kuo Yang
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of work:
1. Local purchasing and importing of various types of polyethylene,
polyvinyl chloride and related chemicals for in-house use.
2. Manufacturing of various range of PV bags, PE bags and related
plastic products.
3. Sales and distribution of products to both domestic and international
markets.
Products: PE bags
PVC bags
Plastic bags
Plastic resin
pellets
Polyethylene
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchase
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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 :
- ALLEN PLASTIC INDUSTRIES CO LTD
- CHIN TONG PLASTIC CO LTD
- GWO LIN INDUSTRIAL CO LTD
- HAUR LUEN ENTERPRISE CO LTD
- KAO-CHIA PLASTICS CO LTD
*Domestic Customers*
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Most of the domestic sales are achieved through direct sales to local
manufacturers, as well as to local trading houses which also export.
*Local Distribution Network*
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Approximately 21% of the annual turnover is attributed to local sales.
*Export Markets*
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Approximately 79% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 4 OBTAINED SCORES : 47
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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 Taiwan corporate law for
public disclosure of detailed financials.
Although, financial summaries were obtained for reference.
*BANK DETAILS*
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Bank Name : BANK OF TAIWAN
Branch : Chungcheng Dist,Taipei City
Branch Address : 120 Chung Ching South Rd Section 1 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : BKTWTWTP
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
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $573,325.29 $241,400.12 $17,199.76
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $102,364.99 $356,214.00 $458,578.99
2006 $138,652.00 $402,364.99 $541,016.99
2007 $165,984.97 $451,239.02 $617,223.99
SC is considered small-sized in its line with a development history of 18
years. Taking into consideration of SC’s general performance, a credit line up
to USD 5,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2821 Plastics
materials and resins
Importing 5162 Plastics
Mat'ls/Basic Forms
Manufacturing 2673 Plastics,
foil, and coated paper bags
Manufacturing 3089 Plastics
products,
Trading 2673 Plastics,
foil, and coated paper bags
Trading 5162 Plastics
Mat'ls/Basic Forms
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3921901000 Plates, sheets, film, foil & strip except cellular,
combined with textile materials
Exporting 3923210000 Sacks & bags(including cones) of polymers of ethylene
Importing 3901200000 Polyethylene having a specific gravity of 0.94 or more
Importing 3926 Articles
of plastics (inc polymers & resins)
Manufacturing 3900 Plastics
& articles thereof
Trading 3900 Plastics
& articles thereof
Trading 3901200000 Polyethylene
having a specific gravity of 0.94 or more
Trading 3926 Articles
of plastics (inc polymers & resins)
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer PVC bags
Trader Polyvinyl
chloride
Trader PE bags
Trader PVC bags
Trader Plastic
bags
Trader Plastic resin
pellets
Trader Polyethylene
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,Importing
Europe Exporting
Middle-East Importing
Japan Exporting
Malaysia Importing
Qatar Importing
United Kingdom Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.71 |
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UK Pound |
1 |
Rs.72.85 |
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Euro |
1 |
Rs.64.70 |
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%)