MIRA
INFORM REPORT
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Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
PROPLAST INT'L CO LTD |
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Registered Office : |
7FL-6, 163 Ming Chuan East Rd Tatung Dist Taipei City 103 |
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Country : |
Taiwan |
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Date of Incorporation : |
13.01. 1996 |
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Com. Reg. No.: |
96927014 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and Local Purchasing of a wide range of acrylonitrile, polypropylene,
polycarbonates and related chemical raw materials. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 60,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
PROPLAST
INT'L CO LTD
7FL-6, 163 MING CHUAN EAST RD
TATUNG DIST TAIPEI CITY 103, TAIWAN
TEL: 886-2-25573998 FAX: 886-2-25573558
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 13, 1996
REGISTRATION NO. :
96927014
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. JOHN CHUN-PO WAN (CHAIRMAN)
STAFF STRENGTH :
2
CAPITAL :
US$ 165,837
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 60,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.34351 = 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
*Office & Facilities*
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Size
: 52 square meters
(approx.)
Location :
Taipei city
Property status : Rented
Type of building : Commercial building
Previous address : 6Fl, 196 Chung Chin North Rd Section 2
Tatung Dist Taipei City
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small sized company operated and managed by the owner.
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: N/A
Shareholders Country Number Amount %
----------------------------- - ---------- ---------- ------- ------
Mr. John Chun-po Wan Taiwan n/a n/a 99.00
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Mr. John Chun-po Wan, Representative
Name Nationality
Job Description Dept. / Division
Mr. John Chun-po Wan Taiwanese
Representative Sales
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing and local purchasing of a wide range of acrylonitrile,
polypropylene, polycarbonates and related chemical raw materials.
2. Selling to both domestic and international markets.
Products: ABS copolymers
Acrylonitrile
Chemicals
PVC
Plastic waste
scrap
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchase
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Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- AMPRO TECHNOLOGIES INC
- ATOFINA FAR EAST LTD
- CHIAO CROWN TRADE CO LTD
- ALWAYS NICE TRADING CO LTD
- GOLDTRADE.COM LTD
*Domestic Customers*
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Most of domestic sales are achieved through direct sales to local
manufacturers.
*Local Distribution Network*
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Approximately 95% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 5% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
56
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
As a private limited company with a paid-up capital of less than USD 6
million, there is no legal requirement according to local corporate law for
public disclosure of detailed financials.
Although financial summaries were obtained for reference.
Note: At the time of preparing this report, 2007 financial has not yet
been submitted to Taiwan Tax Authorities.
*BANK DETAILS*
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Bank Name : MEGA
INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng
Dist, Taipei City
Branch Address : 123
Jhongsiao E Rd Section 2
SWIFT Code :
ICBCTWTP
Bank Name :
TAIWAN COOPERATIVE BANK
Branch :
Chungcheng Dist, Taipei City
Branch Address : 77
Kuan Chien Rd
SWIFT Code :
TACBTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Net Income
2006 $6,348,246.67 $254,534.46
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2004 $1,698,564.00 $210,324.99 $1,908,888.99
2005 $4,132,372.64 $276,541.01 $4,408,913.65
2006 $5,369,874.00 $342,614.99 $5,712,488.99
SC is considered small-sized in its line with a development history of 12
years. A credit line at the above amount appears beyond SC’s capacities, while
a credit line up to USD 60,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2800 Chemicals
and Allied Products
Exporting 2821 Plastics
materials and resins
Exporting 5162 Plastics
Mat'ls/Basic Forms
Exporting 5169 Chemicals/Allied
Prdts, NEC
Trading 2800 Chemicals and
Allied Products
Trading 2821 Plastics
materials and resins
Trading 5162 Plastics
Mat'ls/Basic Forms
Trading 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3815900000 Reaction initiators, reaction accelerators and catalytic
preparations
Exporting 3903300000 Acrylonitrile-butadiene-styrene (abs) copolymers
Exporting 3909505000 Polyurethanes,in primary forms,
Exporting 3915900000 Waste,parings and scrap,of plastics,
Importing 3907200000 Other polyethers
Trading 2926100000 Acrylonitrile
Trading 3800 Miscellaneous
chemical products
Trading 3902100000 Polypropylene
Trading 3907400000 Polycarbonates
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Acrylonitrile
Trader Polypropylene
Trader Chemicals
Trader PVC
Trader Polycarbonate
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to Hong Kong
Exporting to South Korea
Importing from Asia
Importing from Belgium
Importing from Canada
Importing from Europe
Importing from France
Importing from India
Importing from Indonesia
Importing from Japan
Importing from Malaysia
Importing from Netherlands
Importing from North America
Importing from Singapore
Importing from South Korea
Importing from Spain
Importing from Thailand
Importing from USA
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%)