MIRA
INFORM REPORT
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Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
TEST RITE INT'L CO LTD |
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Registered Office : |
6FL, 23 Hsin Hu 3rd Rd, Neihu Dist Taipei City 114, |
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Country : |
Taiwan |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
10.08.1978 |
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Com. Reg. No.: |
20795246 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Importing a wide range of hand tools, auto parts, hardware, machinery,
furniture, and various home appliances and Manufacturing a wide range
of furniture, such as computer tables, desk, cabinet, sofa, and other related
household products. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 5,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
TEST RITE INT'L CO LTD
6FL, 23 HSIN HU 3RD RD, NEIHU DIST TAIPEI CITY 114, TAIWAN
TEL: 886-2-87915888
FAX: 886-2-87915788
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 10, 1978
REGISTRATION NO. :
20795246
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. TONY TANG-HSIUNG HO (CHAIRMAN)
STAFF STRENGTH :
348
CAPITAL :
US$ 199,155,100
BUSINESS LINE :
MANUFACTURE
TURNOVER :
NTD 16,691,890,000 (AS OF 2006)
EQUITIES :
NTD 5,840,283,000 (AS OF 2006)
PAYMENT :
ABOVE AVERAGE
RECOMM. CREDIT RANGE :
UP TO USD 5,000,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
WELL KNOWN
EXCHANGE RATE :
TWD 31.66168 = 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*
===============
August 1978 - TEST RITE
TRADING was launched as an exporter of hand tools.
1980 -
Established a Hong Kong-based company.
1986 - Revenues reached USD 60
million as product line includes ceiling fans, lighting
and other home items.
1989 - Taiwan sales network
created to serve domestic retailers.
1990 - Exports bolstered with
overseas offices. Globalization began.
1991 - Established warehousing
facilities in the U.S.A.
1992 - Offices in Shanghai and
Shenzhen provided entry to China market.
February 1993 - Listed on the Taiwan
stock exchange.
1995 - Taiwan's first home DIY
hypermart, B&Q INT'L CO LTD was launched with
British partner, KINGFISHER PLC.
1996 -
Becomes Staples' Asian purchasing agent.
- Established a logistics center in
Yangmei, near CKS International Airport.
1997 - Established its
construction subsidiary, CHUNG CIN ENTERPRISE CO LTD.
1999 - TEST RITE's sourcing in
China exceeded USD 200 million.
2000 - Two subsidiaries - B&S
Link and U2id - launched in Taiwan in February and
April, and packaging facilities established
in Shanghai and Shenzhen.
April 2000 - Newly constructed
headquarters for the TEST RITE Group, along with its
shopping mall, held its grand opening.
September 2001 -
Launched X-CEL RELATIONSHIP MANAGEMENT CONSULTING.
2002 -2007 - Expanded sales outlets
and operations throughout Taiwan.
*Company Name*
==============
Incorporated as : TEST RITE TRADING
Date of incorporation : August
1978
Changed name to : TEST RITE INT'L (TAIWAN) LTD
Date of change : May 2000
Changed name to : TEST RITE INT'L CO LTD
Date of change : N/A
*Licenses & Permits*
================
License number : 99624735
Date issued : 17 September 1997
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Capital Details*
=============
Initial registered capital
: NTD 2,000,000.00
Authorized capital increase as follows :
Date
Amount (NTD)
------
---------------------
1981
2,000,000,000.00
1999
10,000,000,000.00
Initial paid-up capital
: N/A
Paid up capital increases as follows:
Date
Increase NTD
------- -------------------
September 1998
1,300,000,000
2001
2,879,000,000
2002
3,479,000,000
2004
3,973,113,470
-
4,652,434,330
*Office & Facilities*
===============
Land size : 162,000 sq. feet
Building size : 64,080 sq. feet
Location : Central Taipei's business district
Type of building : 8-storey
building
Comment : B2, 3rd and 4th are packaging floors
B1,
1st and 2nd are shopping floors
5th
is show room
6th
is office
Other Contact Details
-----------------------------
Tel no. : 2-87915321
Fax no : 2-87915988; 2-87915950
Email :
tpo-investor@testrite.com.tw (Investor Relation)
tpo-finance@testrite.com.tw
investor@testritegroup.com
it-mer@testritegroup.com
Website :
www.testrite.com.tw
Previous Contact Details
----------------------------------
(1)
Address: 130, Lane 111, Jen Ho Rd, Tainan City
(2)
Address : 37 Chih Shan Rd, Taichung Hsien
Tel no : 4-24910057
Fax no : 4-24917034
(3)
Address : 12Fl-7, 25 Jen East St East Dist Tainan City 701
Tel no : 6-2678775
Fax no : 6-2698460
(4)
Address : 598 Yung Ta St Tali City Taichung Hsien 412
Tel no : 4-24066929
Fax no : 4-24066732
*Factories, Size & Locations*
=======================
Building size : 600 sq. feet (Approx)
Location : Taoyuan Hsien
Facilities : Modern
Property status : Rented
Type of building : Industrial
building
*Corporate & Organization Structure*
=============================
Organization Chart
Board of Directors
|
Employee retirement Foundation Association ----- |
|
Employee
Benefit Association ----------- |
Chairman
|----------------- Business Development Division
| |--
Secretariat
| |- General
Administration Div -- -|
General manager -
-| |-- Finance
Div
| |- Investment
Development Div
| |
| |- Internal
Audit
|
___________________________________|__________________________________________ | | |
| | | | |
Prods. 1 Prods 2 | Sales Div | ---- Financial &
| | China Bus. Div
Div Div | __|___ | | Inv Bus. Mngt Info
|
________ Support | |
HR |
Div & Tech ____|______
| | Mktng |
| Dept Finance Div
| | |
QA Cust Dept Storage Current Dept
Shenghai Shen- Hong
Dept Service Center Business Dept Dept Kong
Dept Dept
Dept
|--------------
Ironware Tools 1 Department
|-------------- Ironware Tools 2 Department
Productions 1 Division --------------|-------------- Division Furniture
Department
|-------------- Electronic Technology Department
|--------------
General Motor Tools Department
|-------------- Garden Barbecue Department
|--------------
Housing Building Equipment Department
Productions 2 Division --------------|-------------- Auto/Sportt
Department
|--------------
Staples Department
|-------------- Housing Sales Department
|--------------
New Business Development Department
*Industry Ranking*
==============
Generally regarded as one of the Top 5000 Companies in Manufacturing Industry
of Taiwan, details of rank are as follows:
Year Rank
------- ---------
2004 190
2005 207
2006 230
*Reputation*
=========
Maintains a very high and good reputation in the local market. The
company's products are household recognized brands.
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Auditor*
=======
DELOITTE TOUCHE TOHMATSU INT'L
*Registrar*
=========
CAPITAL GROUP, THE
Web site: www.testritegroup.com
this website belongs to “TEST RITE Group”, the design is professional and the content
is well organized. At present it is in English version.
E-mail: fin-stock@testritegroup.com
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: N/A
Shareholders Number
Amount %
------------------------------ ---------------- --------- ---
Mr. Tony Tang-hsiung Ho 35,172,918.00 n/a n/a
Ms. Li-chiu Lee 27,639,138.00 n/a n/a
TSAI CHI CO LTD 22,437,988.00 n/a n/a
LAI TE INVESTMENT CO LTD 11,077,450.00 n/a n/a
Management: Mr. Ching-han Chang,
Manager
Ms. Chia-an Tsai, Manager
Mr. Chien-hua Chen, Assist. Manager
Name Nationality
Job Description Dept. / Division
Mr. Ching-han Chang Taiwanese Manager Finance
Ms. Chia-an Tsai Taiwanese
Manager Sales
Mr. Chien-hua Chen Taiwanese Assist. Manager -
Mr. Ching Yueh Taiwanese Assist. Manager -
Mr. Hsing-an Huang Taiwanese Assist. Manager -
Mr. Huan-keng Yu Taiwanese
Assist. Manager -
Mr. Tung-sheng Kao Taiwanese Assist. Manager -
Mr. Wen-chung Wang Taiwanese Assist. Manager -
Mr. Yi-ming Chou Taiwanese
Assist. Manager -
Ms. Li-chuan Chiu Taiwanese
Assist. Manager -
Ms. Yueh-mei Huang Taiwanese Assist. Manager -
Ms. Li-chiu Lee Taiwanese
General Manager -
Ms. Su-ling Lin Taiwanese
Special Assistant -
Mr. Yung-chi Lai Taiwanese
Supervisor -
Mr. Chien-hsien Fang Taiwanese Vice General Manager -
Mr. Chin-hsing Tung Taiwanese
Vice General Manager -
Mr. Chun-hsiung Chen Taiwanese Vice General Manager -
Mr. Chun-yen Peng Taiwanese Vice General Manager -
Mr. Hsi-chen Shih Taiwanese
Vice General Manager -
Mr. Nai-wei Chang Taiwanese
Vice General Manager -
Mr. Po-ying Lai Taiwanese
Vice General Manager -
Mr. Wan-chin Yu Taiwanese
Vice General Manager -
*Main Products & Services*
=====================
Specializing in the following main areas of work:
1. Importing a wide range of hand tools, auto parts, hardware,
machinery, furniture, and various home appliances.
2. Manufacturing a wide range of furniture, such as computer tables,
desk, cabinet, sofa, and other related household products.
Note: These all the products belong to conglomerate.
3. Exporting and domestic sales of its finished products.
Breakdown of products sold is as follows:
Product % of Product Sold
----------
-------------------------
Hand tools 40
Domestic products
40
Electric equipment
20
Products : Acrylic distempers
Adhesive
products
Adhesives,
rubber
Air
compressors
Air pumps
*Brand*
======
TEST RITE
*Payment Terms*
==============
Sales
--------
Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Document against
Acceptance (D/A)
Purchases
--------------
Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Document against
Acceptance (D/A)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Quality Certification*
==================
Type of certification: ISO-9002
Year of certification: 1994
*Competitors*
===========
The following locally based companies supply identical range of products
:
- ANDARI SELECTIONS CO LTD
- ASIIO TAIWAN CO LTD
- BAOHUI SCREW POWER BIT INC
- CARREFOUR CO LTD
- COSTCO PRESIDENT TAIWAN INC
- M&M BROTHERS (ASIA) LTD
- MAKRO TAIWAN LTD
- NOVUMTEC EURASIAN ASSOCIATED CO
- QUINN INT'L CORP
- SAMLU CO LTD
*Domestic Suppliers*
=================
Maintains more than 50 suppliers.
*Local Distribution Network*
=======================
An estimated 16% of the annual turnover is attributed to local sales.
*International Trade Activity*
======================
The firm's largest market is still the US but the European markets have
been catching up in recent years. The following are export ratios broken down
geographically :
Year % USA Trade % European Trade
% Other
--------- ---------------- -------------------------- ------------
1989 49 49 2
1988 59 39 2
1987 70 28 2
*Export Markets*
==============
An estimated 84% of the annual turnover is attributed to export.
Products are exported to the following countries:
Country
% of Exports
-----------
------------------
America
72.66
Europe
16.52
Australia/New Zealand 10.82
*International Trade Ranking*
=======================
The firm has been ranked among Taiwan's Top Importers/Exporters based on
the standard measured by the Board of Foreign Trade (BOFT)
Details of rank are as follows:
Year Rank
----- ------
1997 162
2004 660
2005 757
2006 883
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name : B & Q INTERIOR DESIGN CO LTD
Address : 8Fl, 270 Chung Hsiao East Rd Section 2 8Fl Ta-an Dist Taipei
City 106 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : B & S LINK CO LTD
Address : One Capital Place Georgetown Grand Cayman Cayman Islands
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : B & S LINK CORP
Address : 5Fl, 23 Hsin Hu 3rd Rd Neihu Dist Taipei City 114 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Computer & Information Products
Company Name : B&Q INT'L CO LTD
Address : 21, Lane 1, Chung Cheng Rd Nanron Village Luchu Hsiang 338
Taoyuan Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Construction & Construction Materials
Company Name : BRIGHT INDUSTRY LTD
Address : One Capital Place Georgetown KY11103 Grand Cayman Cayman
Islands
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : CHUNG CIN ENTERPRISE CO LTD
Address : 5Fl 23 Hsin Hu 3rd Rd Neihu Dist Taipei City 114 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Construction & Construction Materials
Company Name : CHUNG CIN INTERIOR DESIGN/CONSTRUCTION CO LTD
Address : 8Fl Times Plaza 270 Chung Hsiao East Rd Section 4 Ta-an Dist
Taipei City 106 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Construction & Construction Materials
Company Name : ESSENTIAL HARDWARE LTD
Address : One Capital Place Georgetown KY11103 Grand Cayman Cayman
Islands
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : FORTUNE MILES CO LTD
Address : Lotemau Centre, Trust Net Chambers Apia Samoa
Country : Samoa
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : FREER INC
Address : Rm C, B2Fl, 205 Pei Hsin Rd Section 3 Hsintien City 231 Taipei
Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Importer
Industry : Textiles & Raw Material
Company Name : FUSION INT'L DISTRIBUTION INC
Address : 5Fl 23 Hsin Hu 3rd Rd Neihu Dist Taipei City 114 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : GRAND SYSTEM LTD
Address : One Capital Place Georgetown KY11103 Grand Cayman Cayman
Islands
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : HOLA HOME FURNISHINGS CO LTD
Address : 5Fl, 23 Hsin Hu 3rd Rd Neihu Dist Taipei City 114 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Trader
Industry : Furniture
Company Name : HOLA SHANGHAI CONSULTANT CO LTD
Address : B2 Shanghai Sun Plaza 88 Xianxia Rd Changning Dist Shanghai
200335 China
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : HOMY FURNISHING CO LTD
Address : 2Fl 23 Hsin Hu 3rd Rd Neihu Dist Taipei City 114 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Furniture
Company Name : LEADING INDSTRUMENTS LTD
Address : One Capital Place Georgetown KY11103 Grand Cayman Cayman
Islands
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : LI CHIU CO LTD
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : LI TE INT'L CO LTD
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : MASTER DESIGN INC
Address : 1900 South Burgundy Place Ontario 91761 California USA
Country : USA
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Houseware
Company Name : PRECISION TOOLS LTD
Address : One Capital Place Georgetown KY11103 Grand Cayman Cayman
Islands
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : TE HSING ELECTRONIC CO LTD
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : TEST RITE BUSINESS CO LTD
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : TEST RITE BUSINESS DEVELOPMENT CORP (CHINA) CO LTD
Address : 1398 Yi Shan Rd Xuhui Dist Shanghai China
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : TEST RITE HELLAS SA
Address : 1 Salaminos & Mavromichali Strasse Piraeus 18545 Greece
Country : Greece
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE INT'L (CANADA) LTD
Address : Unit 7, 110 Riviera Drive Markham L3R 5M1 Ontario Canada
Country : Canada
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE INT'L (CROATIA) DOO
Address : Zitnjk BB Zagreb 10000 Croatia
Country : Croatia
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE INT'L (CZECH REPUBLIC) SRO
Address : V Luzich 818 Prague (Praha) 14200 Czech Republic
Country : Czech Republic
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE INT'L (FRANCE) LTD
Address : ZAC Paris Nord II 33 Rue des Chardonnerets Roissy 95957 France
Country : France
Relationship : Minor Investments
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE INT'L (HUNGARY) KFT
Address : Kanizsai U 56 Kaposvar 7400 Hungary
Country : Hungary
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE INT'L (ROMANIA) SRL
Address : 17 Maria Hagi Moscu St Bucharest 78154 Romania
Country : Romania
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE INT'L (THAILAND) LTD
Address : 13Fl RS Tower 121/52-53 Ratchadapisek Rd Din Daeng Bangkok
10320 Thailand
Country : Thailand
Relationship : Minor Investments
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Giftware & Jewellery
Company Name : TEST RITE INT'L (THAILAND) LTD - INSPECTION OFFICE
Address : 234A Huynh Van Banh St W11 Phu Nhuan Ho Chi Minh Vietnam
Country : Vietnam
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : TEST RITE INT'L - TR DIS TICARET LTD
Address : Ataturk Mah Girne Cad 45 Kadikoy Istanbul 34750 Turkey
Country : Turkey
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE INT'L SLOVAK REPUBLIC SRO
Address : Fucikova 8 Senec 90301 Slovakia
Country : Slovakia
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE KOREA CORP
Address : Rm 701 Kwangsung Bldg Kangnam-gu Seoul 135082 South Korea
Country : South Korea
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE POLSKA SP ZOO
Address : Ul 3 Maja 8 Pruszkow 05800 Poland
Country : Poland
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE PRODUCTS (HONG KONG) LTD - NINGBO OFFICE
Address : Rm 611 Tower A 43 Liuzhuang St Haishu Dist Ningbo 315016
Zhejiang China
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : TEST RITE PRODUCTS CORP
Address : 1900 South Burgundy Place Ontario 91761 California USA
Country : USA
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE PRODUCTS WAREHOUSE
Address : 4755 Zinfandel CT Ontario 91761 California USA
Country : USA
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : TEST RITE PTE LTD
Address : Apex Tower 70 Anson Rd #22-05 079905 Singapore
Country : Singapore
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST RITE PTE LTD - INSPECTION OFFICE
Address : Jalan Yos Sudarso Kav, 89 Blvd Mitra Sunter Jakarta 14350 East
Java Indonesia
Country : Indonesia
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : TEST-RITE DE MEXICO SA DE CV
Address : Fernando Montes de OCA 21, 3 Piso Fracc Industrial San Nicolas
Tlalnepantla 54030 Mexico
Country : Mexico
Relationship : Minor Investments
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST-RITE INT'L (GERMANY) GMBH
Address : Merkurring 82 22143 Hamburg Germany
Country : Germany
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST-RITE INT'L (UK) LTD
Address : Caledonia House Winnall Manor Rd Winchester SO230RF Hampshire
United Kingdom
Country : United Kingdom
Relationship : Minor Investments
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST-RITE INT'L AUSTRALIA PTY LTD
Address : Unit 4, 7 Anella Ave Castle Hill Sydney 2154 NSW Australia
Country : Australia
Relationship : Minor Investments
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Hardware & Tools
Company Name : TEST-RITE INVESTMENT
Country : Virgin Islands (British)
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : TEST-RITE PRODUCTS (HK) LTD
Address : Unit 2-4 7Fl New Bright Bldg 11 Sheung Yuet Rd Kowloon Bay
Kowloon Hong Kong
Country : Hong Kong
Relationship : Minor Investments
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Houseware
Company Name : TEST-RITE PRODUCTS (HONG KONG) LTD - SHANGHAI OFFICE
Address : 10Fl City Center - Tower B 100 Zun Yi Rd Shanghai 200051 China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Houseware
Company Name : TEST-RITE PRODUCTS (HONG KONG) LTD - SHENZHEN OFFICE
Address : 1-3Fl Xintuo Garden Bldg - Tower 1 10 Shixia North 1 St
Shenzhen 518048 Guangdong China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : TESTRITE INT'L - INDIA LIAISON OFFICE
Address : Rm 224 Galleria DLF City Phase IV Gurgaon 122002 Haryana India
Country : India
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : TONG LUNG METAL INDUSTRY CO LTD
Address : 178 Bao-shuen Rd Hao-Hu-Li Chiayi City 600 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Public Company
Company Type : Manufacturer
Industry : Hardware & Tools
Company Name : TR DEVELOPMENT
Country : Samoa
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : TR DEVELOPMENT
Country : Germany
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : TR FORTUNE CO LTD
Address : Chera Chambers - Omar Hodge Bldg Wickhams Cay I Road Town
Tortola Virgin Islands (British)
Country : Virgin Islands (British)
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : TR INVESTMENT
Country : Germany
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : TR INVESTMENT (BVI)
Address : Omar Hodge Bldg 325 Waterfront Drive Wickhams Cay Road Town Tortola
Virgin Islands (British)
Country : Virgin Islands (British)
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : TR RETAILING CO LTD
Address : One Capital Place Georgetown Grand Cayman Cayman Islands
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : TR STAR CO LTD
Country : Virgin Islands (British)
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : TR TRADING CO LTD
Country : Cayman Islands
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : TRS INVESTMENT
Country : Samoa
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : TUNG YING BUILDERS CO LTD
Address : 5Fl, 23 Hsin Hu 3rd Rd 5Fl Neihu Dist Taipei City 114 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : TUNG YING INVESTMENT CO LTD
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : U2 INDUSTRY DESIGN CO LTD
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : U2ID DESIGN LTD
Address : 5Fl West 23 Hsin Hu 3rd Rd Neihu Dist Taipei City 114 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Strategic Partners & Alliances*
=========================
Group name : TEST RITE Group
Core
businesses include :
-
Construction
-
E-Commerce
- Retail
-
Trading
-
U2id Industrial Design
PAYMENT RATING : 2 OBTAINED SCORES : 78
|
Rating Key |
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 FAIRLY
LARGE amounts depending on individual judgement experience.
*Bank Details*
===========
Bank Name : BANK SINOPAC CO LTD
Branch : Chungshan Dist, Taipei City
Branch Address : 941 Chien Kuo North Rd Section 2 Chungshan Dist Taipei
City 104 (Head Office)
SWIFT Code : SINOTWTP
Bank Name : FUBON COMMERCIAL BANK
Branch : Ta-an Dist, Taipei City
Branch Address : 2Fl B1 Fubon Banking Center 169 Jen Ai Rd Section 4
Ta-an Dist Taipei City 106 (Head Office)
SWIFT Code : This bank does not have a SWIFT Code
Bank Name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Hsin-i Dist, Taipei City
Branch Address : 13-15Fl Int'l Trade Bldg 333 Keelung Rd Section 1
Hsin-i Dist Taipei City 110 (Head Office)
SWIFT Code : HSBCTWTP
Bank Name : SHANGHAI COMMERCIAL & SAVINGS BANK LTD
Branch : Chungshan Dist, Taipei City
Branch Address : Shanghai Bank Tower 2 Min Chuan East Rd Section 1
Chungshan Dist Taipei City 104 (Head Office)
SWIFT Code : SCSBTWTP
Bank Name : TA CHONG COMMERCIAL BANKING CORP
Branch : Linya Dist, Kaohsiung City
Branch Address : 58 Chung Cheng 2nd Rd Linya Dist Kaohsiung City 802
(Head Office)
SWIFT Code : OURBTWTP
Bank Name : TAI-SHING INT'L BANK
SWIFT Code : This bank does not have a SWIFT Code
Bank Name : HANG SENG BANK
Branch : Sungshan Dist, Taipei City
Branch Address : Suite A 8Fl Walsin Financial Bldg 117 Min Sheng East Rd
Section 3 Sungshan Dist Taipei City 105 (Head Office)
SWIFT Code : This bank does not have a SWIFT Code
Bank Name : SUNNY COMMERCIAL BANK CO LTD
SWIFT Code : This bank does not have a SWIFT Code
Balance Sheet
Currency : NTD
Denomination : In Thousands
2002 2003
2004
2005 2006
---------
---------
---------
---------
---------
Current
Assets
3,050,571
3,872,012
3,605,211
4,205,489 3,794,950
Funds
& long-term
investments 2,178,699 3,188,436 3,765,373
3,599,540 5,960,299
Property
2,384,306
1,833,320
1,754,475
1,653,007 1,573,295
Other
Assets
353,066 340,656 445,958 570,136 669,761
Total
Assets
7,966,642
9,234,424
9,571,017
10,028,172 11,998,305
Current
Liabilities (Before)
1,572,749
1,586,993
1,723,270
2,293,292 2,825,961
(After) 1,934,193 1,777,525 2,400,489 2,770,458 3,173,033
Long-term
Liabilities
1,177,558
2,355,665
1,823,949
1,681,400 2,686,400
Other
Liabilities
117,400 429,126 589,914 491,181 645,661
Total
Liabilities (Before)
2,867,707
4,371,784
4,137,133
4,465,873 6,158,022
(After) 3,229,151
4,562,316
4,814,352 5,041,589 6,273,430
Common
stock
3,707,386
3,757,945
4,106,342
4,412,905 4,603,538
Capital
Reserve
407,955
409,174
504,710
525,376 600,647
Retained
Earnings (Before)
1,309,939
891,652
1,478,947 1,391,687 1,094,093
(After) 720,519 650,561 668,499 668,792 631,604
Total
Shareholder's Equity
(Before) 5,098,935 4,862,640
5,433,884
5,562,299 5,840,283
(After) 4,737,491 4,672,108 4,756,665 4,986,583 5,724,875
Income Statement
Currency : NTD
Denomination
: In Thousands
2002 2003 2004 2005 2006
--------- --------- --------- --------- ---------
Operating
revenue
15,478,841
15,573,248
17,310,844 17,689,735 16,691,890
Gross
Profit
2,237,590
2,362,596
2,561,062
2,638,475 2,622,484
Operating
Income
502,618 90,817 554,752 638,810 676,130
Non-operating
income
543,082
294,103
579,343
593,714 295,652
Non-operating
expense 144,604 252,852 192,120 448,027 528,608
Net
Income
750,096
182,068 831,975 727,497 425,301
Earnings
(losses) per share
(After) 1.91 0.45 2.05 1.78 1.02
*Financial Ratios*
==============
2002 2003 2004 2005 2006
---------
--------- --------- --------- ---------
Ratio
of liabilities to
Assets (%) 35.99 47.34 43.23 45.07 51.32
Ratio
of long-term capital
to fixed Assets (%) 263.24 393.73 413.68 438.21 541.96
Current
ratio (%)
193.96
243.98 209.21 183.38 134.29
Quick
ratio (%)
176.97
233.07
203.38
170.21 122.26
Interest
coverage 9.04 2.13 8.01 5.18 2.74
Turnover
of receivable (times) 9.53 6.66 7.09 6.94 6.35
Average
collection period
of receivable 38.00 55.00 51.00 53.00 57.00
Turnover
of inventories
(times) 105.79 139.63 223.08 192.20 156.63
Turnover
of expense (times) 20.27 14.43 18.09 19.46 14.80
Average
days of sales
3.00
3.00
2.00
2.00 2.00
Turnover
of fixed assets
(times) 6.49
8.49
9.87 10.70 10.61
Turnover
of total assets
(times) 1.94 1.69 1.81 1.76 1.39
Return
on total assets (%)
9.42
1.97
8.69
7.25 3.54
Return
on shareholder's
Equity (%) 14.71 3.74 15.31 13.08 7.28
Operating
Income
14.45
2.45
13.96 15.33 15.06
Net
Income before tax
25.90
3.56
23.71
18.83 9.87
Profit
margin (%)
4.85 1.17 4.81 4.11 2.55
Retroactive
2.03
0.48 2.18 1.90 1.02
Cash
flows ratio (%)
9.61
8.96
42.02
33.22 47.01
Cash
flows adequacy (%)
53.86
36.65
42.38 48.71 40.90
Cash
reinvestment ratio (%)
--
-- 6.26 1.17 8.69
Degree
of operating leverage
2.76 16.29 2.79 2.30 2.02
Degree
of financial leverage
1.29
--
1.32
1.42 1.60
*Accountants*
============
DELOITTE
& TOUCHE
*Financial Summary (Currency:
U.S. $'s)
===============================
Year Sales Assets Net Income
1996 $0.00 $150,395,481.48 $4,796,148.15
1997 $0.00 $126,373,370.37 $8,472,518.52
1998 $0.00 $149,811,433.33 $11,983,233.33
1999 $318,860,000.00 $144,772,000.00 $15,515,000.00
2000 $317,523,514.77 $178,853,312.60 $15,102,892.69
2001 $370,577,974.46 $186,165,322.11 $17,289,146.84
2002 $444,922,132.80 $228,992,296.64 $21,560,678.36
2003 $449,055,594.00 $266,275,201.85 $5,249,942.33
2004 $520,626,887.22 $287,850,135.34 $25,021,804.51
2005 $558,917,377.57 $316,845,876.78 $22,985,687.20
2006 $504,591,596.13 $362,705,713.42 $12,856,741.23
*Int´l Trade Activity (Currency:
U.S. $'s)
=============================
Year Imports Exports Total
2001 $2,314,819.99 $132,698,500.00 $135,013,319.99
2002 $4,255,916.01 $96,536,733.00 $100,792,649.01
2003 $5,237,745.01 $58,173,331.00 $63,411,076.01
2004 $8,315,800.00 $49,678,830.02 $57,994,630.02
2005 $9,165,786.00 $43,054,464.99 $52,220,250.99
2006 $7,508,517.99 $39,537,741.99 $47,046,259.98
Over the past 30 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 5,000,000 appears to be within
SC’s capacities.
Attached: trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 1743 Tile,
Marble, Mosaic Work
Exporting 2298 Cordage
and twine
Exporting 2511 Wood
Household Furniture
Exporting 3088 Plastics
plumbing fixtures and sanitary ware
Exporting 3089 Plastics
products,
Exporting 3200 Stone,
Clay, & Glass Products
Exporting 3262 China
tableware
Exporting 3269 Ceramic
articles,
Exporting 3315 Iron
or steel nails, spikes, brads, staples, and tacks
Exporting 3357 Nonferrous
metal wire and cable, drawn and insulated
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3406000000 Candles, tapers and the like
Exporting 3910000000 Silicones in primary forms
Exporting 3919101000 Self-adhesive plates,sheets, film, foil, tape, etc, of plastic,
in rolls not ovr 20 cm
wide
with light-reflecting surfac produced by glass grains(ballotini)
Exporting 3924100000 Tableware and kitchenware of plastics
Exporting 4420902000 Cigar and cigarette boxes, of wood
Exporting 4421901000 Wood dowel pins, plain, coniferous
Exporting 5607490000 Twine, cord, rope & cable, whet/nt plait/braid &
whet/nt impreg, coat, cov/sheat
w/rub/plast:
of polyethylene or polypropylene
Exporting 6802210000 Marble, travertine and alabaster, simply cut or sawn, with a
flat or even surface
Exporting 6911900010 Toilet articles of porcelain or china
Exporting 6914900000 Ceramic articles
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Appliances
Exporter Non-electrical
appliances
Exporter Bolts
Exporter Wood
screws
Exporter House ware
Exporter Sanitary
ware
Exporter Steel wire
Exporter Tinplates
Exporter Ceramic
articles
Exporter Glass
mirrors
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Australia
Exporting to Austria
Exporting to Belgium
Exporting to Brazil
Exporting to Bulgaria
Exporting to Canada
Exporting to Chile
Exporting to China
Exporting to Colombia
Exporting to Costa Rica
Exporting to Cuba
Exporting to Czech Republic
Exporting to El Salvador
Exporting to Europe
Exporting to Finland
Exporting to France
Exporting to Germany
Exporting to Greece
Exporting to Guatemala
Exporting to Hong Kong
Exporting to Indonesia
Exporting to Israel
Exporting to Italy
Exporting to Japan
Exporting to Mexico
Exporting to Netherlands
Exporting to New Zealand
Exporting to North America
Exporting to Oceania
Exporting to Poland
Exporting to Portugal
Exporting to Russia
Exporting to Saudi Arabia
Exporting to Singapore
Exporting to Slovenia
Exporting to South Africa
Exporting to South America
Exporting to South Korea
Exporting to Spain
Exporting to Sweden
Exporting to Switzerland
Exporting to Turkey
Exporting to USA
Exporting to United Kingdom
Importing from Asia
Importing from Australia
Importing from China
Importing from Europe
Importing from Germany
Importing from Hong Kong
Importing from Indonesia
Importing from Japan
Importing from North America
Importing from Oceania
Importing from South Korea
Importing from Thailand
Importing from USA
Importing from Vietnam
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%)