MIRA
INFORM REPORT
|
Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
POLY GRAM INDUSTRIAL CO LTD |
|
|
|
|
Registered Office : |
Hsinchu Industrial Park 8 Szu Wei Rd Hukou Hsiang Hsinchu Hsien 303 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
18.04.1987 |
|
|
|
|
Com. Reg. No.: |
22481690 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Research and Development of Technologies related to Turn-Key
Manufacturing Operations for Fluorescent Lamps and Bulbs. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
POLY GRAM
INDUSTRIAL CO LTD
HSINCHU INDUSTRIAL PARK 8 SZU WEI RD
HUKOU HSIANG HSINCHU HSIEN 303, TAIWAN
TEL: 886-3-5983859 FAX:
886-3-5983961
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 18, 1987
REGISTRATION NO. :
22481690
LEGAL FORM : PRIVATE
CHIEF EXECUTIVE :
MR. CHIA-PEI LIAO (CHAIRMAN)
STAFF STRENGTH :
20
CAPITAL :
US$ 241,400
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 150,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.56540 = 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*
===============
1989 - Moved to the new factory in
Hsinchu Industrial Park, mainly manufacturing and exporting fluorescent lamp
machinery, bulb machinery, automobile lamp machinery and automatic lighting
machinery to South Asia and South Korea.
1990 - Stocked up many new machine
tools to enhance the manufacture efficiency and the quality.
1991 - Purchased
computerize designing equipment and office automatic equipment to
strengthen
the machine design and the efficiency.
1993 - Promoted new stem
and mount combine machine to attain the appreciation from
customers
because of consistent durable recognition, stable and easy operation.
1994 - Researched and
developed 12H loudspeaker machine to be used by hard glass. The
Loud speaker will be margined smoothly and made
shape roundness even.
1997 - Sold 10W/20W T8 automatic fluorescent
lamp factory equipment to SINAR ANGKASA RUNGKUT PT in Indonesia; the largest
plant in fluorescent lamp industry.
1999 - Sold 20W/40W T10 automatic fluorescent
lamp factory equipment to LEE KIJCHAREON SEANG CO LTD in Thailand.
2000 - Applied for ISO
9002.
2001 - Sold cold cathode tube automatic
equipment to FOCUS LIGHT TECHNOLOGY CO LTD.
2003 - Inducted the ISO9001:2000 operating
system and incessant self- improvement to make customers satisfied
2004 - Developed cold
cathode lamp bending machine which can make L, U type models.
*Licenses & Permits*
================
License number : 9963061000
Date issued : 23 December, 1999
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
===============
Other tel no. : 3-5983861
*Factories, Size & Locations*
=======================
Size : 732 square meters (Approx.)
Location : Hsinchu Hsien
Type of building : Industrial
building
Property status : Owned by POLY GRAM INDUSTRIAL CO LTD
Comments : Serves as office and factory
*Corporate & Organization Structure*
============================
A medium -sized company operated and managed by the owner and an
experienced team of professionals.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
www.lampweb.com.tw
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: polyind@ms24.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 4
Total number of shares: 800
Shareholders Country
%
--------------------- --------- ------
Mr. Chia-pei Liao Taiwan 60.00
Mr. Chia-yung Liao Taiwan 15.00
Ms. Shu-chu Chen Taiwan 15.00
Ms. Shu-man Chen Taiwan 10.00
Management: Ms. Hsiu-ling Huang, Executive
Mr. Chia-pei
Liao, Manager
Name Nationality
Job Description
Ms. Hsiu-ling Huang Taiwanese
Executive Human Resources
Mr. Chia-pei Liao Taiwanese
Manager -
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Research and development of technologies related to turn-key
manufacturing operations for fluorescent lamps and bulbs.
2. Manufacturing of various types of machines which are used to
manufacture fluorescent tube lighting and also normal house lighting lamps.
3. Selling to both domestic and international markets.
Products: Agricultural machine parts
Agricultural plow
part
Baking machine
Beading
machines
Coating
machines
*Brand*
======
HOSHI
SUN STAR
*Payment Terms*
=============
Sales
------
Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchase
-------------
Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Quality Certification*
==================
Type of certification : ISO
9002
Year of certification :
2001
*Competitors*
===========
The following locally based companies supply similar range of products :
- BONMART ENTERPRISE CORP
- CHERN YEH MACHINERY CO LTD
- CHIA CHANG MACHINERY CO LTD
- CHING HWEE INT'L TRADING CO LTD
- COMAX MACHINERY CO LTD
*Domestic Customers*
================
All domestic sales are to local lighting manufacturers.
*Local Distribution Network*
=======================
Approximately 20% of the annual turnover is attributed to local
sales.
*International Trade Activity*
======================
At the time of preparing this report the Ministry of Economic Affairs
had not yet released trade figures for 2007
*Export Markets*
==============
Approximately 80% of the annual turnover is attributed to export
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
63
|
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
MODERATE amounts depending on individual judgement experience.
As a private limited company with a paid-up capital of less than USD 6
million, there is no legal requirement according to local corporate law for
public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*BANK DETAILS*
==============
Bank Name : E.SUN
COMMERCIAL BANK LTD
Branch :
Sungshan Dist,Taipei City
Branch Address : 115
Min Sheng East Rd Section 3
SWIFT Code :
ESUNTWTP
*Financial Summary (Currency: U.S. $'s)
=============================
Year Sales Net
Income
2006 $10,580,411.12 $622,732.77
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2004 $10,000.00 $50,000.00 $60,000.00
2005 $140,000.00 $1,490,000.00 $1,630,000.00
2006 $620,000.00 $8,071,209.19 $8,691,209.19
SC is considered small-sized in its line with a long history. Taking into
consideration of SC’s general performance, a credit line up to USD 150,000
appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3500 Industrial
Machinery & Equipment
Exporting 3524 Lawn
and garden equipment, and parts,
Exporting 3545 Machine
tool accessories, and parts,
Importing 3561 Pumps
and pumping equipment, except fluid power pumps
Manufacturing 3500 Industrial
Machinery & Equipment
Manufacturing 3545 Machine
tool accessories, and parts,
Manufacturing 3569 General
industrial machinery and equipment, and parts,
Manufacturing 3641 Electric
lamps
Manufacturing 3646 Nonres
Electric Lighting
Manufacturing 3648 Lighting
equipment, (including commercial)
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8432800000 Agricultural, horticultural or forestry machinery for soil
preparation or cultivation;
lawn
or sports ground rollers
Exporting 8432900005 Parts of plows
Exporting 8461500010 Sawing or cutting-off machines, metal removing, used or rebuilt
Exporting 8461900010 Machine tools working by removing metal, used or rebuilt
Exporting 8475100000 Machines for assembling electric or electronic lamps, tubes or
flashbulbs, in
glass
envelopes
Importing 8413701000 Stock pumps imported for use with machines
for making cellulosic pulp, paper or
paperboard,
centrifugal
Importing 8413810020 Turbine pumps
Importing 8414100000 Vacuum pumps
Manufacturing 8479 Machines
etc having individual functions, parts
Manufacturing 8539 Electric
filament or discharge lamps, parts
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Turbine
pumps
Importer Vacuum
pump
Importer Stock
pumps
Manufacturer Hollow cathode
lamps
Manufacturer Cold cathode
fluorescent lamps
Manufacturer Fluorescent
lamps
Manufacturer Energy saving
lamps
Manufacturer Flash lamp
equipment
Manufacturer Coating
machines
Manufacturer Baking
machine
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to North America
Exporting to Thailand
Exporting to USA
Importing from Asia
Importing from China
Importing from Europe
Importing from Germany
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%)