MIRA
INFORM REPORT
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Report Date : |
26.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
SINON CORP |
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Registered Office : |
23 Mei Chuan West Rd Section 1 West Dist Taichung City 403 |
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Country : |
Taiwan |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
20.11.1963 |
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Com. Reg. No.: |
51911712 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Importing of Chemicals Raw Materials for In-House Oem Production |
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 : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
SINON
CORP
23 MEI CHUAN WEST RD SECTION 1
WEST DIST TAICHUNG CITY 403, TAIWAN
TEL: 886-4-23726181 FAX: 886-4-23721219
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 20, 1963
REGISTRATION NO. :
51911712
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. WEN-PIN YANG (PRESIDENT)
STAFF STRENGTH :
1,922
CAPITAL :
US$ 117,682,559
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 9,290,131,000 (AS OF 2006)
EQUITIES :
NTD 4,528,586,000 (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 :
AVERAGE
EXCHANGE RATE :
TWD 31.35100 = USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
C - subject company (the company inquired by you)
NA - not available
M - million
TWD –Taiwan New Dollars
*Company History*
===============
1955 - Mr. Ting-Fa Yang
entered into a partnership and established the SINON CHEMICAL FACTORY
manufacturing agricultural pesticides. That signified the beginning of the
SINON ENTERPRISE.
1959 - The partnership
officially incorporated as the SINON CHEMICAL CO LTD.
1965 - The SINON CHEMICAL
INDUSTRY CO LTD, reorganized two years prior, made substantial capital
investments and established a new plant in Wangtien. New manufacturing capacity
allowed for the production of technical and other formulated products such as
EC, WP and granules. The facility, which also included biological and chemical
research laboratories, became the premier agricultural chemical factory in
Taiwan.
1978 - Had successfully
consolidated the administration and supporting staff and relocated them into
the Sinon Building in Taichung. In a move to boost its operating efficiency and
to promote its market competitiveness, SINON CHEMICAL INDUSTRY CO LTD, merged with
subsidiary operations of the MING-FENG CHEMICAL CO LTD, the FENG MEI INDUSTRIAL
CO LTD and the FENG-NIEN DEVELOPMENT CO LTD.
1979 -
The new conglomerate became known as the SINON CO LTD.
Beginning
1982 - Established its own
pesticide supply centers in order to strengthen domestic sales.
1989 - Became a public
traded company due to the success of the business expansion. The stock is
listed on the Taiwan Stock Exchange.
- Company founder Mr. Ting-fa Yang
was named the Honorary Chairman; Mr. Wen-ben
1979 - The first steps
towards diversification began with the construction of a plastics plant at
Taya, Taichung County, processing plastic packaging materials.
1981 - Opened a food
catering plant at Wu Zier, Taichung, supplying group meals, luncheons, and
other food products.
- Established FENG-NIEN DEVELOPMENT CO LTD at Nantou County.
1983 - In anticipating
the growing trend of communication and computer business, it invested and
formed KUO-SHING COMMUNICATION CO LTD to develop software services business.
1988 - Based on the
experience and technology gained from the food catering business, formed a
supermarket division. The first company owned supermarket opened at Tsao-Tun,
Nantou County.
1992 -
Established TUNG-CHIA ENTERPRISE CO at Taichung City.
1993 -
Established SING-WEI CO LTD At Taichung County.
1998 - For ensuring the
supply of resources, TUNG-CHIA CO invested in forming CHARN-HONG DING-YUAN CO
LTD. The new company is in rock crushing, formulation and sales.
1993 -
Invested and found SINON LIFE INSURANCE CO LTD
- Entered into finance/insurance business territory.
1995 - Formed SINON
PROFESSIONAL BASEBALL CO LTD. The team
is called Sinon Bulls.
- Formed SINON FRANCE CO in France .
2000 -
Owned a total of 21 supermarket stores plus two independent franchisees.
- Established Tung-Chia Nanto plant
expansion.
- Formed SINON BRAZIL CO in Brazil.
*Company Name*
==============
Previous name : SHINUNG
CORP
Changed name to : SINON CORP
Date of change : January
1975
*Company Registration*
==================
License number : 51911712
Date issued : 20
November, 1963
Issuing authority : Ministry of
Economic Affairs (MOEA)
Branch Registration
----------------------------
(1)
License number : 16080113
Date issued : 19
April, 1997
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Lukang Chen
(2)
License number : 16080129
Date issued : 19
April, 1997
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Wufeng Hsiang
(3)
License number : 70789472
Date issued : 1
November, 2000
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Shui Li
(4)
License number : 27253111
Date issued : 30
March, 2005
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Li Ming
(5)
License number : 27253127
Date issued : 30 March, 2005
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Chihu Chen
(6)
License number : 27253148
Date issued : 30
March, 2005
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Ta Chang
(7)
License number : 27253153
Date issued : 30
March, 2005
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Ta Li
(8)
License number : 27253132
Date issued : 30
March, 2005
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Ching Hai
(9)
License number : 27253169
Date issued : 30
March, 2005
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Ta Lien
(10)
License number : 27253175
Date issued : 30
March, 2005
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch office of Tung Shan
(11)
License number : 27924420
Date issued : 7
September, 2005
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Chien Hsing
(12)
License number : 27924435
Date issued : 7
September, 2005
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
Office of Ta Tun
(13)
License number : 27924441
Date issued : 7
September, 2005
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Nantun Dist
(14)
License number : 27936880
Date issued : 29
March, 2006
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch office of Chung Ko
(15)
License number : 27951376
Date issued : 11
January, 2007
Issuing authority : Ministry
of Economic Affairs (MOEA)
Comments : Branch
office of Tsaotun Chen
*Licenses & Permits*
================
(1)
License number : 99638906
Date issued : 13
November, 2002
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 99633368
Date issued : 1
January, 1969
Issuing authority :
Industrial Development Bureau, MOEA
Note :
Fertilizer & Chemical Products Factory
(3)
License number : 99679599
Date issued : 31
December, 2004
Issuing authority : Industrial
Development Bureau, MOEA
Note :
Plastic Products Factory
(4)
License number : 9963804600
Date issued : 7
October, 1982
Issuing authority :
Industrial Development Bureau, MOEA
Note : Beverage & Food Factory
*Capital Details*
=============
Authorized capital :
NTD 3,900,000,000.00
Initial paid-up capital :
NTD 2,000,000.00
Paid up capital increase : NTD
3,644,183,450.00
Capital increases as follows:
Year Increase (NTD)
-------
---------------------
1962 10,000,000.00
1963 20,000,000.00
1965 50,000,000.00
1967 85,000,000.00
1974 100,000,000.00
1979 280,000,000.00
1981 380,000,000.00
1982 480,000,000.00
1983 503,520,000.00
1986 545,000,000.00
1987 558,000,000.00
1988 602,000,000.00
1989 887,950,000.00
1990 1,000,000,000.00
1991 1,115,500,000.00
1992 1,501,500,000.00
1993 1,700,007,177.00
1994 2,305,253,200.00
1995 2,581,835,529.00
1996 2,788,434,282.00
1997 3,111,599,020.00
1998 3,252,429,740.00
1999 3,447,575,530.00
2001 3,572,728,870.00
2004 3,644,183,450.00
2005 3,644,383,450.00
2006 3,644,183,450.00
*Office & Facilities*
================
Size : 3,310 sq. meters (Including 6 floors)
Location : Taichung City
Facilities :
Modern
Property status : Owned by SINON CORP
Type of building : Commercial building
Other Contact Details
-----------------------------
Tel nos. : 800-006222 / 461305 (Consumer service)
/ 4195678
Fax nos. : 4-23750574 / 26935050
E-mail addresses : service@mail.sinon.com.tw
a1@mail.sinon.com.tw (Chemical Division)
cctai@sinon.com.tw
Website :
www.supermarket.com.tw (Supermarket Division)
Previous Contact Details
---------------------------------
Tel no : 2-27522627
Fax no : 2-27811245
*Factories, Size & Location*
======================
The firm maintains two (4) manufacturing premises as listed below:
(1)
License number :
99633368
Building size : 2894 sq. meters (Approx.)
Location : Taichung Hsien
Property status : Owned by SINON CORP
Facilities : Modern
Type of building : Industrial building
No of employees : 23
Other tel no : 4-26935119
(2)
License number : 99679599
Building size : 10213 sq. meters (Approx.)
Location : Changhwa Hsien
Property status : Owned by SINON CORP
Facilities : Modern
Type of building : Industrial building
(3)
License number : 99638046
Building size : 285 sq. meters (Approx.)
Location : Taichung Hsien
Property status : Rented
Facilities : Modern
Type of building : Industrial building
(4)
License number : 99638906
Building size : 11,350 sq meters (Approx.)
Location : Taichung Hsien
Property status : Owned by SINON CORP
Facilities : Modern
Type of building : Industrial building
Plastic Products Factory
--------------------------------
Land size : 10,213.36 sq. meters (Approx.)
Location : Shinkang, Changhwa Hsien
Type of building : Industrial
building
Property status : Owned by SINON CORP.
Beverage & Food Products Factory
-----------------------------------------------
Land size : 10,000 sq. meters (Approx.)
Location : Wujih Hsiang ,Taichung Hsien
Type of building : Industrial
building
*Corporate & Organization Structure*
===========================
A large company mainly operated and managed by an experienced team of
professionals.
Organization and management of the company is divided into eight (8)
divisions:
- Chairman Production Division
- Marketing Division
- R&D
- Supermarket Division
- Trading Division
- Plastic Products Division
- Consumer Products Division
- Electric Vehicle Division
*Industry Ranking*
==============
(1)
Considered as one of Taiwan’s largest non-manufacturing corporations.
Details of rank follow:
Year Rank
------- ------
1992 223
(2)
Generally regarded as one of the Top 1000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------- ---------
1999 155
2000 193
2001 168
2005 206
(3)
Generally regarded as one of the Top 5000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------- ---------
2004 400
2005 428
2006 421
*Sales Ranking*
=============
Details of Rank are as follows
Year Rank
------ ------
1996 151
1997 143
1998 140
2000 187
2001 166
2002 174
2006 317
*Reputation*
===========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Auditors*
=========
DELOITTE & TOUCHE TOHMATSU
*Registrar*
=========
TAIWAN INT'L SECURITIES CORP
Web
site: www.sinon.com.tw the design is professional
and the content is well organized. At present it is both in Chinese and English
versions.
E-mail: service@sinon.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
==================
Total number of shareholders: N/A
Total number of shares: N/A
Shareholders Country
%
-------------------------------------------- ---------- ----
Mr. Po-yen Hong Taiwan
n/a
Mr. Wen-pin Yang Taiwan
n/a
Mr. Tien-chung Yang Taiwan
n/a
Mrs. Chun-chen Kuo Wu Taiwan
n/a
CHIA WEN INVESTMENT CO LTD Taiwan n/a
Mr. Tien-chen Yang Taiwan n/a
KNOWLEDGE & SERVICE INFORMATION CORP Taiwan n/a
Mr. Cheng-lang Chen Taiwan
n/a
Mr. Chung-cheng Wang Taiwan
n/a
Mr. Chung-hsin Yang Taiwan
n/a
Ms. Tzu-fang Yen Taiwan
n/a
Mr. Mao-chang Chang Taiwan
n/a
Mr. Tse-jen Yu Taiwan
n/a
Management: Mr. Tse-fan Yen,
Assist. Manager
Mr. Kuei-ju Yu, Manager
Mr. Chih-jen Tsai, Assist. Manager
Name Nationality
Job Description Dept. / Division
Mr. Tse-fan Yen Taiwanese
Assist. Manager Advertising
Mr. Kuei-ju Yu Taiwanese
Manager Finance
Mr. Chih-jen Tsai Taiwanese
Assist. Manager Product
Mr. Chun-tang Chang Taiwanese Assistant Sales
Mr. Jui-lin Lo Taiwanese
Accountant -
Mr. Te-jun Cheng Taiwanese
Accountant -
Mr. Chien-cheng Tai Taiwanese
Assist. Manager -
Mr. Chin-shan Lin Taiwanese
Assist. Manager -
Mr. Tse-jen Yu Taiwanese
Assist. Managing Director -
Mr. Chung-hsin Yang Taiwanese General Manager -
Mr. Wen-chin Wang Taiwanese Manager -
Mr. Wen-pin Yang Taiwanese
President -
Mr. Po-yen Hong Taiwanese
Vice Chairman -
*Main Products & Services*
======================
Specializes in the following areas of works:
1. Importing of chemicals raw materials for in-house OEM production.
2. Manufacturing a wide range of insecticides, fertilizers and plastic
bottles for industrial, agriculture and consumer use.
3. Owner and management of local retail chain stores, based predominantly
in South of Taiwan. "SINON" Retail supermarkets.
4. Export and domestic sales of its finished products.
Products: 2-amino-4
6-dimethoxypyrimidine
Aceplates
Agrochemical
fertilizers
Agrochemical
products
*Brand*
======
FENG NIAN
Sinon
*Payment Terms*
==============
Sales
-------
Local : 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)
*Quality Certification*
==================
Obtained the following certifications:
(1)
Type of certification : ISO 9002
Year of certification : 1996
Other details :
Chemical products
(2)
Type of certification : ISO 9002
Year of certification : 1996
Other details :
Plastic containers
(3)
Type of certification : ISO 9000
Year of certification : 2002
Other details :
Plastic containers
*Machinery & Equipment*
=====================
Machinery Country of Origin
---------------
------------------------
Drums Taiwan
Fleshing Taiwan
Samming Taiwan
Splitting Taiwan
Shaving Italy
Toggling Taiwan
Buffing Taiwan
Dedusting Taiwan
Embossing Taiwan
Spraying Taiwan
Measuring Taiwan
*Production Capacity*
================
(A)
(1)
Item :
Insecticides
Current capacity : 39,653 tons
(2)
Item :
Fertilizers
Current capacity : 49,363 tons
(3)
Item :
Foods
Current capacity : 915,000 tons
(4)
Item :
Plastic bottles
Current capacity : 10,225,000 bottles
(B)
(1)
Item :
Insecticides
Maximum capacity : 35,000 (NTD 1,000/Ton)
Current capacity : 33,738
(NTD 1,000/Ton)
Year :
2006
(2)
Item :
Fertilizer
Maximum capacity : 40,000 (NTD 1,000/Ton)
Current capacity : 37,612 (NTD
1,000/Ton)
Year :
2006
(3)
Item :
Food
Maximum capacity : 1,000 (NTD 1,000/Ton)
Current capacity : 927 (NTD
1,000/Ton)
Year :
2006
(4)
Item :
Plastic bottle
Maximum capacity : 9,000 (NTD 1,000/Ton)
Current capacity : 8,285 (NTD
1,000/Ton)
Year :
2006
*Association*
===========
Member of the following associations:
- Taiwan Regional Association of Tanneries
- The Taiwan Plastics Industry Association
*Competitors*
===========
The following locally based companies supply similar range of products
in the Chemical industry sector:
- TAIWAN AGROCHEMICAL INDUSTRIES INC
- EVER SING CO LTD
- BAYER TAIWAN CO LTD
- SCINOPHARM (TAIWAN) LTD
- STANDARD CHEM & PHARM CO LTD
- DELTA SYNTHETIC CO LTD
- EVERLIGHT CHEMICAL INDUSTRIAL CORP
- SCI PHARMTECH INC
- GREEN ORCHIDS CO
- PAO TIANG TRADING CORP
- FUMI MUNA CO LTD
- TAIWAN AGROCHEMICAL INDUSTRIES INC
- HUIKWANG CORP
- BAYER TAIWAN CO LTD
- FIVE LEAF FERTILIZER CO LTD
- TAIWAN FERTILIZER CO LTD
- SUNKO INK CO LTD
The following locally based companies supply similar range of products
in the Supermarket l industry sector:
- WELLCOME TAIWAN CO LTD
- YUMAOWU ENTERPRISE CO LTD
- GREEN GIANT CORP
*Imports*
========
Hides are imported from the following countries:
Country
% of Import
-------------
-----------------
US 70
Canada 20
Australia
10
*Local Distribution Network*
======================
An estimated 60% of the annual turnover is attributed to local sales.
*International Trade Activity*
======================
NOTE: At the time of performing this report, the 2007 export figures had
not yet been released by the Ministry of Economic Affairs which monitors
exports and imports.
*Export Markets*
==============
An estimated 40% of the annual turnover is attributed to export.
*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
-----
---------
2004 351
2005 361
2006 358
*Branches*
=========
Maintains 32 supermarket outlets in Southern Taiwan.
Trading
-----------
Tel no : 4-26938100
Fax no :
4-26938101
No. of employees : 20
Houseware
---------------
Tel no :
4-2631919
Fax no :
4-26934414
No. of employees : 25
Mingchien Hsiang
-------------------------
Tel no :
49-2734426
Fax no :
49-2734303
*LOCAL BRANCHES & MANAGEMENT*
=================================
Branch : SINON CORP (FACTORY 2) - TATU HSIANG
Branch Address : 118 Chung Shan Rd Tatu Hsiang, Taichung Hsien 432
Branch Tel : [+886] 4-26936841
Branch Employees : 45
Branch : SINON CORP (CEMENT INDUSTRY) - TAIPING CITY
Branch Address : 327 Kuang Hsin Rd Taiping City, Taichung Hsien 411
Branch Tel : [+886] 4-22714436
Branch Fax : [+886] 4-22716431
Branch Employees : 20
Branch : SINON CORP - MINGCHIEN HSIANG
Branch Address : 60, Lane 15 Nan Yun Rd Mingchien Hsiang, Nantou Hsien
551
Branch Tel : [+886] 4-92739067
Branch Fax : [+886] 4-92739039
Branch Employees : 33
Branch : SINON CORP (SUPERMARKET DIVISION) - TATU HSIANG
Branch Address : 35 Chung Shan Rd Tatu Hsiang, Taichung Hsien 432
Branch Tel : [+886] 4-26931919
Branch Fax : [+886] 4-26934414
Branch Employees : 18
Branch : SINON CORP (PLASTIC FACTORY) - SHINKANG HSIANG
Branch Address : 3 Chang Ping East 12th Rd Shinkang Hsiang, Changhwa
Hsien 509
Branch Tel : [+886] 4-7910393
Branch Fax : [+886] 4-7910392
Branch Employees : 20
Branch : SINON CORP (BEVERAGE & FOOD FACTORY) - WUJIH HSIANG
Branch Address : 1429 Chung Shan Rd Section 3 Wujih Hsiang, Taichung
Hsien 414
Branch Employees : 50
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name: CHANG HSING INDONESIA PT
Address: Jalan Cikini Raya No 58 M/N Jakarta 10330 Indonesia
Country: Indonesia
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Paper, Pulp & Products
Company Name : CHUNG FEN PLASTIC FIBERS INDONESIA
Country : Indonesia
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Plastics & Products
Company Name : CHUNG SHAN SINON HOUSEHOLD & TOOLS LTD
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : FENG NIAN MARKET CO LTD
Address : 35 Chung Shan Rd Tatu Hsiang 432 Taichung Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : FONGLIEN CO LTD
Address : 70 Mu 5 Settakit Rd Thamai Krathum Baen 74110 Samut Sakhon Thailand
Country : Thailand
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : HOMEXPO CORP
Address : 15Fl W & T World Trade Square 376 Jen-Ai Rd Section4 Ta-an
Dist Taipei City 106 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : HSIN WEI CO LTD
Address : 327 Kang Hsien Rd Taiping City 411 Taichung Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Construction & Construction Materials
Company Name : KNOWLEDGE & SERVICE INFORMATION CORP
Address : 23 Mei Chuan West Rd Section 1 West Dist Taichung City 403
Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Computer & Information Products
Company Name : KONG TAI INDONESIA SHOES MFG PT
Address : Central Cikini Bldg 58 Jalan Cikini Raya Jakarta 10330
Indonesia
Country : Indonesia
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Footwear
Company Name : SHING NUNG TRADING CO LTD
Address : 4Fl, 23 Mei Chuan West Rd Section 1 West Dist Taichung City
403 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : SINON (THAILAND) CO LTD
Country : Thailand
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : SINON AUSTRALIA PTY LTD
Country : Australia
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : SINON CAYMAN CORP
Address : 2Fl 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 : SINON CHEMICAL (SHANGHAI) CO LTD
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : SINON CORP CO LTD
Country : Thailand
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : SINON DE MEXICO SA DE CV
Country : Mexico
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : SINON DO BRAZIL LTD
Country : Belize
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : SINON EU CORP
Address : 170 Boulevard Haussmann Paris 75008 France
Country : France
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : SINON EU GMBH
Country : Germany
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : SINON FLORALAND CORP
Address : 97 Hui Chung Rd Hsitun Dist Taichung City 407 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Agricultural Products
Company Name : SINON INDONESIA PT
Country : Indonesia
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : SINON PROFESSION BASEBALL CO LTD
Address : 3Fl, 23 Mei Chuan West Rd Section 1 West Dist Taichung City
403 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Hotel, Entertainment & Recreation
Company Name : SINON USA INC
Country : USA
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : SINONLIFE CORP
Address : 11Fl, 155 Tzu Chih St West Dist Taichung City 403 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Service
Industry : Financial Services - General
Company Name : SYNTAI CHEMICALS & PHARMACEUTICALS LTD
Address : 87 Chung Shan Rd Tatu Hsiang 432 Taichung Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Medical Equipment & Pharmaceutical
Company Name : WU HSING GARDENING CO LTD
Address : 5Fl, 123 Mei Chuan West Rd Section 1 West Dist Taichung City
403 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : YIN TAI INDUSTRIAL PT
Address : Jalan Cikini Raya 56 M Jakarta Indonesia
Country : Indonesia
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Garments & Accessories
*Subsidiaries, Joint-ventures
& Affiliates*
=================================
Joint Ventures
--------------------
(1)
CHANG HSING INDONESIA PT
This is joint ventures between the following companies:
- SINON CORP
- CHANG HAING ARTS PRINTING CO LTD
(2)
KONG TAI INDONESIA SHOES MFG PT
This is a joint venture of the following companies:
- PT INDUSTRIAL LTD - Hong Kong
- MERCU AGUNG SAKTI PT - Indonesia
- SINON CORP - Taiwan (10%)
PAYMENT RATING : 2
OBTAINED SCORES : 77
|
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 : ABN-AMRO BANK NV
Branch : Chungshan Dist,Taipei City
Branch Address : 2Fl, 49 Ming Sheng East Rd Section 2 Chungshan Dist
Taipei City 104 (Head Office)
SWIFT Code : ABNATWTP
Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,Taipei City
Branch Address : 38 Chung King South Rd Section 1 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : HNBKTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,Taipei City
Branch Address : 123 Jhongsiao E Rd Section 2 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : ICBCTWTP
Bank Name : TAI-SHING INT'L BANK
SWIFT Code : This bank does not have a SWIFT Code
Balance Sheet
Currency : NTD
Denomination : in Thousands
2002 2003 2004
2005 2006
------ ------ ------ ------ -------
Current Assets
2,269,781 2,196,688 2,576,232
2,718,500 2,905,895
Permanent Assets 1,746,758 1,967,591 2,159,463
2,150,924 2,077,353
Other Assets 884,680 643,525 735,450
728,521 705,362
Current Liabilities (Before) 1,549,747 1,674,695
1,950,972 1,996,933 1,808,322
(After) 1,626,624
1,760,789 2,073,368 2,073,172 2,038,559
Long-term Liabilities 301,824 282,752
410,520 369,349 273,242
Common stock 3,572,729 3,572,729 3,644,184 3,644,184 3,644,184
Capital Reserve 54,501 42,402 42,402
42,402 42,402
Retained Earnings (Before) 573,528 739,272
839,161 778,893 925,684
(After)
496,651 581,723 716,765 702,654
695,447
Total Assets 6,435,428 6,706,712 7,284,674
7,304,273 7,230,016
Total Liabilities (Before) 2,281,040 2,414,615
2,835,220 2,914,845 2,701,430
(After)
2,357,917 2,500,709 2,957,618 29,901,084
2,931,667
Total Shareholders' Equity (Before)
4,154,388 4,292,097 4,449,454 4,389,428
4,528,586
(After) 4,077,511 4,206,003
4,327,058 4,313,189 4,298,349
Income Statement
Currency : NTD
Denomination : in Thousands
2002 2003 2004
2005 2006
------ ------ ------ ------ -------
Sales
6,963,242 8,069,087 8,902,689 8,861,877
9,290,131
Gross Profit 2,120,950 2,358,609 2,428,672
2,391,336 2,567,729
Operating Income 165,633 237,044 107,306
43,281 306,418
Non-operating income 237,613
187,830 259,565 144,266 126,544
Non-operating expense 303,517 50,749
83,494 125,419 153,955
Net Income 100,403 275,747 257,434
62,128 223,030
Earnings Per Share 0.28 0.76 0.71 0.17 1
*Financial Ratios*
===============
2002 2003 2004 2005 2006
----------- -----------
-----------
----------- -----------
Ratio of liabilities to Assets %
35.45 36.00 38.92 39.91 37.36
Ratio of long-term capital to
fixed Assets % 255.30 232.50 225.10
221.20 231.20
Current ratio % 146.46 131.17
132.05 136.13 160.70
Quick ratio % 65.90 70.90 68.50
78.00 94.40
Interest coverage 4.00 12.00 7.90 2.00 5.30
Turnover of receivable (times)
11.20 9.70 8.60 7.50 7.10
Average collection period
of receivable 32 38 43 48 51.00
Turnover of inventories (times)
5.30 6.40 6.60 6.00 6.00
Average days of sales 68 58 61 57 61.00
Turnover of fixed assets (times)
3.99 4.10 4.12 4.12 4.47
Turnover of total assets (times)
1.08 1.20 1.22 1.21 1.28
Return on total assets % 4.40 4.11 3.53 0.85
3.08
Return on shareholder's Equity %
2.42 6.42 5.79 1.42 4.92
Operating Income 4.60 6.60 2.90
1.20 8.40
Net Income before tax 2.80 10.50 7.80 1.70 7.70
Profit margin % 1.44 3.42 2.89
0.70 2.40
Earnings per share 0.28 0.76 0.71
0.17 0.62
Cash flows ratio % 43.00 17.80 18.60 18.90
44.00
Cash flows adequacy %
84.50 84.40 71.40 63.80 79.00
Cash reinvestment ratio %
9.70 3.60 4.30 3.90 10.30
Degree of operating leverage
12.30 9.70 21.10 56.60 8.40
Degree of financial leverage 1.30 1.20 1.60 2.70 1.30
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
1999 $207,273,968.75 $204,164,593.75 -$2,909,687.50
2000 $195,576,205.29 $197,698,444.79 $1,526,283.05
2001 $186,298,955.31 $179,221,474.17 $4,885,113.17
2002 $200,150,675.48 $184,979,246.91 $2,885,972.98
2003 $232,672,635.52 $193,388,465.97 $7,951,182.24
2004 $267,750,045.11 $219,087,939.85 $7,742,375.94
2005 $279,996,113.74 $230,782,717.22 $1,962,969.98
2006 $280,838,301.09 $218,561,547.76 $6,742,140.27
Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2001 $42,913,478.00 $15,647,078.99 $58,560,556.99
2002 $48,873,201.01 $24,869,204.00 $73,742,405.01
2003 $49,572,157.01 $41,237,160.01 $90,809,317.02
2004 $61,988,562.02 $46,178,708.00 $108,167,270.02
2005 n/a $14,218,909.32
$14,218,909.32
2006 $59,310,530.99 $56,978,039.99 $116,288,570.98
Over the past 45 years, SC has made a stable growth with satisfactory
profit. Credit dealings with SC in favorable terms can be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 1479 Chemicals
and fertilizer minerals
Exporting 2800 Chemicals
and Allied Products
Exporting 2842 Specialty
cleaning, polishing, and sanitary preparations
Exporting 3089 Plastics
products,
Exporting 3325 Steel
Foundries, NEC
Exporting 3491 Industrial
Valves
Exporting 3564 Fans
and blowers, except household type; dust collection and air purification
equipment; and parts,
Importing 0179 Fruits
and tree nuts,
Importing 1479 Chemicals
and fertilizer minerals
Importing 2000 Food
and Kindred Products
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2907140000 Xylenols and their salts
Exporting 2915501000 Propionic acid
Exporting 2916391500 Ibuprofen
Exporting 2918902050 Other aromatic pesticides
Exporting 2921490000 Aromatic monoamines not elsewhere specified or included and
their derivatives, salts therof
Exporting 2921491000 4-amino-2-stilbenesulfonic acid and its salts; p-ethylaniline;
2,4,6-trimethylaniline(mesidine); 2,3-xylidine; 2,4-xylidine; 2,5-xylidine; etc
Exporting 2932992000 Other aromatic heterocyclic compounds with oxygen
hetero-atom(s) only for use as pesticides
Exporting 2932993500 2-hydroxy-3-dibenzofurancarboxylic acid
Exporting 2933199000 Other compounds (excluding aromatic, modified aromatic and
drugs) containing an unfused pyrazole ring (whether or not hydrogenated) in the
structure
Exporting 3100 Fertilizers
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Fans
Exporter Valves
Exporter Iron steel
products
Exporter Plastic
stoppers
Exporter Herbicides
Importer Apples
Importer Industrial
machinery
Importer Cabbage
Importer PE
(polyethylene)
Importer Copolymer
PVC
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Afghanistan
Exporting to Asia
Exporting to Australia
Exporting to Bangladesh
Exporting to Belgium
Exporting to Brazil
Exporting to Chile
Exporting to China
Exporting to Cyprus
Exporting to Europe
Exporting to France
Exporting to Germany
Exporting to Greece
Exporting to Hong Kong
Exporting to Hungary
Exporting to India
Exporting to Indonesia
Exporting to Ireland
Exporting to Japan
Exporting to Kuwait
Exporting to Lebanon
Exporting to Malaysia
Exporting to Mauritius
Exporting to Mexico
Exporting to Middle East
Exporting to Netherlands
Exporting to North America
Exporting to Peru
Exporting to Philippines
Exporting to Portugal
Exporting to South Africa
Exporting to South Korea
Exporting to Spain
Exporting to Sri Lanka
Exporting to Switzerland
Exporting to Thailand
Exporting to USA
Exporting to United Kingdom
Importing from Asia
Importing from Australia
Importing from Belgium
Importing from Canada
Importing from China
Importing from Colombia
Importing from Denmark
Importing from Europe
Importing from France
Importing from Germany
Importing from India
Importing from Israel
Importing from Italy
Importing from Japan
Importing from Middle East
Importing from Netherlands
Importing from North America
Importing from Philippines
Importing from Singapore
Importing from South Korea
Importing from Switzerland
Importing from Thailand
Importing from USA
Importing from United Kingdom
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%)