MIRA
INFORM REPORT
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Report Date : |
11.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
YUAN SOONG PLASTIC INDUSTRIAL CO LTD |
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Registered Office : |
9FL, 71 Chien Kuon North Rd Section 1
Chungshan Dist Taipei City 104 |
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Country : |
Taiwan |
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Date of Incorporation : |
16.06.1997 |
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Com. Reg. No.: |
16084764 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer of various types of high density polyethylene pipes and
fittings. Selling to both domestic and international market. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
YUAN
SOONG PLASTIC INDUSTRIAL CO LTD
9FL, 71 CHIEN KUON NORTH RD SECTION 1
CHUNGSHAN DIST TAIPEI CITY 104, TAIWAN
TEL: 886-2-25166730 FAX: 886-2-25084630
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 16, 1997
REGISTRATION NO. :
16084764
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. WEN-LUNG WANG (CHAIRMAN)
STAFF STRENGTH :
30
CAPITAL :
US$ 4,968,944
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 80,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.37064 = 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
*Company History*
===============
1998 -
Established for new generation pipe material production - HDPE pipe and
fitting.
*Licenses & Permits*
================
License number : 9962307200
Date issued : 2 March,
1999
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
================
Size : 127.68 sq. feet (Approx.)
Location :
Taipei City
Property status : Owned
by Mr. Wen-hsien Wang
Type of building :
Residential district
Other contact details
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Tel nos. : 2-25166838 /
25082976
Fax no. : 2-25082980
*Factories, Size & Locations*
=======================
Size :
1200 square meters (Approx.)
Location :
Taoyuan Hsien
Property status : Rented
Type of building : Industrial
building
Comment : Serves
as factory and office 2
*Corporate & Organization Structure*
=============================
A medium sized company operated and managed by an experienced team of
professionals.
www.yuansoong.com.tw
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
E-mail: yspipe.tw@msa.hinet.net
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: 14,100,000
Shareholders Country Number Amount %
Mr. Wen-hsien Wang Taiwan 4,500,000.00 n/a 31.91
Mr. Wen-pin Wang Taiwan 4,500,000.00 n/a 31.91
Ms. Wen-lung Wang Taiwan 4,500,000.00 n/a 31.91
Mrs. Chun-shu Wang Taiwan 600,000.00
n/a 4.26
Management: Ms. Nien Chen,
Manager
Ms. Wen-lung Wang, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Nien Chen Taiwanese
Manager Account
Ms. Wen-lung Wang Taiwanese General Manager -
*COMPANY DIRECTORS*
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1
Name : Ms. Wen-lung Wang
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of work :
1. Manufacturer of various types of high density polyethylene pipes and
fittings.
2. Selling to both domestic and international market.
Products also include:
- High density polyethylene pipes & fittings
- HDPE/ PE/ two-layers/ plastic/ power cable protect/ water/ gas pipe
- Butt-fusion/ electro-fusion/ compression/ sonket-fusion/ push-fast
fitting
Products: Copper fittings
Flexible hoses
HDPE
HDPE pipe &
fittings
High pressure
connections
*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)
Purchases
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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*
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The following locally based firms supply similar range of products :
- GEESING ENTERPRISE CO LTD
- SUH CHING PLASTICS CO LTD
- TOP MORE PP ENTERPRISE CO LTD
- JIN DING LTD CO
- GXIANG PLASTIC PIPE CO LTD
- KUN SUL INT'L CO LTD
- NAN YA PLASTICS CORP
*Quality Certification*
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Type of certification : ISO 9002
Year of certification :
1999
*Local Distribution Network*
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Approximately 90% of the annual turnover is attributed to local
sales.
Export Markets*
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Approximately 10% of the annual turnover is attributed to export
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : GAOCHUN MACHINERY CO LTD
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
Company Name : SOONG YUAN ENGINEERING CO LTD
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
*IMPORTER AGENCY LISTING*
===========================
Supplier : GECO SYSTEM SPA
Country of Origin : Italy
Product Description : Piping systems
Brand : GECO
Year : 2000
Supplier : GECO SYSTEM SPA
Country of Origin : Italy
Product Description : Piping systems
Brand : GECO
Supplier : GECO SYSTEM SPA
Country of Origin : Italy
Product Description : Piping systems
Brand : GECO
Supplier : GECO SYSTEM SPA
Country of Origin : Italy
Product Description : Piping systems
Brand : GECO
Supplier : GECO SYSTEM SPA
Country of Origin : Italy
Product Description : Piping systems
Brand : GECO
PAYMENT RATING : 3 OBTAINED SCORES :
58
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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 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 : TAIWAN COOPERATIVE BANK
Branch : Chungshan Dist,Taipei City
Branch Address : 75-1 Sung Chiang Rd
SWIFT Code : TACBTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $3,621,001.81 $1,508,750.75 $220,277.61
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2005 $980,000.00 $850,000.00 $1,830,000.00
2006 $1,470,000.00 $370,000.00 $1,840,000.00
2007 $1,860,000.00 $280,000.00 $2,140,000.00
SC is considered small-sized in its line with a development history of 11
years. Taking into consideration of SC’s general performance, a credit line up
to USD 80,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3052 Rubber
and plastics hose and belting
Exporting 3084 Plastic
pipe
Exporting 3089 Plastics
products,
Exporting 3429 Hardware,
Exporting 3494 Valves
and pipe fittings,
Exporting 3498 Fabricated
Pipe/Fittings
Exporting 5072 Hardware
Importing 2821 Plastics
materials and resins
Manufacturing 3052 Rubber
and plastics hose and belting
Manufacturing 3084 Plastic
pipe
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3900 Plastics
& articles thereof
Exporting 3917 Tubes,
pipes & hoses & their fittings, of plastics
Exporting 3917310000 Flexible tubes, pipes and hoses, having a minimum burst
pressure of 2>.6 mpa
Exporting 3917330000 Tubes, pipes & hoses, not rigid, not reinforced or
otherwise combined with other materials, with fittings
Exporting 3917390000 Tubes, pipes & hoses
Exporting 3917400090 Other fittings for tubes, pipes & hoses, of plastic
Exporting 3926 Articles
of plastics (inc polymers & resins)
Exporting 3926909890 Other articles of plastic,
Importing 3901100010 Polyethylene having a specific gravity of less than 0.94,
linear low density polyethylene
Importing 3901200000 Polyethylene having a specific gravity of 0.94 or more
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter PE
(polyethylene) hoses
Exporter Plastic
pipes
Exporter Copper
fittings
Exporter High pressure
connections
Exporter Plastic fittings
Exporter PVC
Exporter HDPE
Exporter Plastic
tubes
Importer Piping
systems
Importer Polyethylene
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,Importing
Europe Exporting,Importing
Middle-East Exporting
North America Exporting
Pacific Exporting
South America Exporting
Belgium Importing
Colombia Exporting
Ecuador Exporting
Finland Importing
Italy Importing
Japan Exporting
New Zealand Exporting
South Korea Exporting,Importing
Spain Exporting
Tunisia Exporting
Turkey Exporting
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.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%)