MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAI YU CHEMICAL & PHARMACEUTICAL CO
LTD
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Registered Office : |
1, Alley 13, Lane 11, Yun San Rd Chutung Chen Hsinchu Hsien 310 |
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Country : |
Taiwan |
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Date of Incorporation : |
20.11.1973 |
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Com. Reg. No.: |
47066452 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and development of a wide range of beliu cream, zedipine
injections and related medicines. Importing and local purchasing of various types of penicillin,
polypropylene and related chemicals. |
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 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
TAI
YU CHEMICAL & PHARMACEUTICAL CO LTD
1, ALLEY 13, LANE 11, YUN SAN RD
CHUTUNG CHEN HSINCHU HSIEN 310, TAIWAN
TEL: 886-3-5826655 FAX: 886-3-5822389
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 20, 1973
REGISTRATION NO. :
47066452
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. SAN-CHIA LIN (CHAIRMAN)
STAFF STRENGTH :
132
CAPITAL :
US$ 12,075,534
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 200,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.35211 = 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*
================
License number : 9963036401
Date issued : 26 July, 1977
Issuing authority :
Industrial Development Bureau, MOEA
*Office & Facilities*
===============
Size :
2,768 sq. meters (Approx.)
Location :
Hsinchu Hsien
Type of building : Industrial
building
Property status : Rented
Comment : Serves
as office and factory.
Other e-mails :
taiyu-peng@umail.hinet.net / taiyu.med@msa.hinet.net
*Corporate & Organization Structure*
============================
A large sized company operated and managed by an experienced team of
professionals.
SC is not known to host website of its own at present.
E-mail: taiyu3@ms.69.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 8
Total number of shares: 102,785
Shareholders Country Number Amount %
Mr. Yu-lang Lin Taiwan 27,260.00 n/a 26.52
Ms. Yu-hsueh Lin Wen Taiwan 16,995.00 n/a
16.53
Mr. Sun-chung Pong Taiwan 13,060.00 n/a
12.71
Mr. San-chia Lin Taiwan 12,150.00 n/a 11.82
Mr. Ming-tsung Lin Taiwan 10,410.00 n/a 10.13
Ms. Li-yun Pong Lin Taiwan 8,610.00 n/a
8.38
Mr. Wan-chi Wen Taiwan 8,580.00 n/a 8.35
Mr. Kuo-pao Tseng Taiwan 5,720.00 n/a 5.57
Management: Mr. San-chia Lin,
General Manager
Mr.
Sun-chung Pong, Manager
Name Nationality
Job Description
Mr. San-chia Lin Taiwanese
General Manager
Mr. Sun-chung Pong Taiwanese Manager
*COMPANY DIRECTORS*
=====================
1
Personal Unique Identifier :
MI01995930
Name : Mr. San-chia Lin
Nationality :
Taiwan
Country of Residence :
Taiwan
*Main Products & Services*
=======================
Specializes in the following areas of work:
1. Research and development of a wide range of beliu cream, zedipine
injections and related medicines.
2. Importing and local purchasing of various types of penicillin,
polypropylene and related chemicals.
3. Manufacturing of a wide range of tonfupin injection, ointment,
antibiotics and related medicines.
4. Selling to both domestic and international markets.
Products: Amlopine tablets
Antibiotic
preparations
Antibiotics
B-complex
injection
Beliu cream
*Brand*
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TY
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
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)
*Competitors*
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The following locally based companies supply similar range of products :
- GLAXO WELLCOME TAIWAN LTD
- CHINA CHEMICAL & PHARMACEUTICAL CO LTD
- SHITEH ORGANIC PHARMACEUTICAL CO LTD
- SYNPAC-KINGDOM PHARMACEUTICAL CO LTD
- ASTAR CHEMICAL & PHAR CO LTD
*Local Distribution Network*
======================
Approximately 60% of the annual turnover is attributed to local sales
directly to consumer through hospitals
and pharmacies.
*Export Markets*
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Approximately 40% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES :
60
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for
MODERATE amounts depending on individual judgement experience.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*BANK DETAILS*
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Bank Name : BANK
OF TAIWAN
Branch :
Chungcheng Dist,Taipei City
Branch Address : 120
Chung Ching South Rd Section 1
SWIFT Code :
BKTWTWTP
Bank Name :
CATHAY UNITED BANK
Branch :
Chungcheng Dist,Taipei City
Branch Address : 65
Kuan Chien Rd
SWIFT Code :
UWCBTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $4,465,902.23 $6,336,753.17 $178,032.59
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2005 $1,299,021.30 $896,774.03 $2,195,795.33
2006 $872,924.79 $82,791.35 $955,716.14
2007 $1,021,800.66 $1,656,848.85 $2,678,649.51
SC is considered medium-sized in its line with a long development
history. A credit line at the above amount appears to be beyond SC’s capacities,
while a credit line up to 200,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3081 Plastics
film, strips, and sheets, unsupported
Manufacturing 2833 Medicinals
and botanicals
Manufacturing 2834 Pharmaceutical
preparations
Manufacturing 3842 Orthopedic,
prosthetic, and surgical appliances and supplies,
Trading 2833 Medicinals and
botanicals
Trading 2834 Pharmaceutical
preparations
Trading 3089 Plastics
products,
Trading 3842 Orthopedic,
prosthetic, and surgical appliances and supplies,
Trading 5162 Plastics
Mat'ls/Basic Forms
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2848001000 Phosphides, whether or not
chemically defined, exc ferrophosphorus, of copper (phosphor copper),
containing > 15 percent by weight of phosphorus
Exporting 3902100000 Polypropylene
Importing 2941102000 Penicillin g and its salts
Importing 2941103000 Carfecillin, sodium;
cloxacillin, sodium; dicloxacillin, sodium; flucloxacillin (floxacillin); and
oxacillin, sodium
Importing 2941906000 Antibiotics
Importing 3921904000 Plates, sheets, film, foil
& strip, plas, ex cellular, flexible,
Manufacturing 2941 Antibiotics
Manufacturing 2941906000 Antibiotics
Manufacturing 3000 Pharmaceutical products
Manufacturing 3003 Medicaments of mixtures, not dosage etc
form
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Antibiotic
preparations
Manufacturer Leucomycin
capsules
Manufacturer Spasmo-euvernil FC
tablet
Manufacturer Suspension
leucomycin granules
Manufacturer Amlopine
tablets
Manufacturer Tonfupin
injection
Manufacturer Betasa
ointment
Manufacturer Beliu cream
Manufacturer Younam powder for
IV injection
Manufacturer Zedipine
injection
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to Hong Kong
Importing from Asia
Importing from China
Importing from Europe
Importing from Germany
Importing from India
Importing from Italy
Importing from Middle East
Importing from North America
Importing from South Korea
Importing from Turkey
Importing from USA
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.34 |
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UK Pound |
1 |
Rs.86.53 |
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Euro |
1 |
Rs.68.54 |
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%)