MIRA INFORM REPORT
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Report Date : |
19.11.2008 |
IDENTIFICATION DETAILS
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Name : |
PIMEX D&L LTD |
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Registered Office : |
9 Fl, |
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Country : |
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Date of Incorporation : |
19.12.1990 |
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Com. Reg. No.: |
23990588 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and local purchase of various wallpaper, paperboard,
greaseproof, paper and related paper products |
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
PIMEX D&L LTD
9FL,
TEL: 886-2-28831551 FAX:
886-2-28820240
EXECUTIVE SUMMARY
INCORPORATION DATE :
DECEMBER 19, 1990
REGISTRATION NO. :
23990588
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR DAVID PO-HSUN SUNG (CHAIRMAN)
STAFF STRENGTH :
81
CAPITAL :
US$ 4,037,267
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.12538 = 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 –
*Company History*
===============
1996 - Acquired the
Kon-Sin Converter, streaming al complete line of Parchment paper business from
importing, printing, slitting to the market service.
1997 - Opened its
Yungkang,
*Licenses & Permits*
=================
License number : 9970745700
Date issued : 31 Jan,
2008
Issuing authority : Industrial
Development Bureau, MOEA
*Office & Facilities*
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Size : 156
sq. meters (Approx.)
Location :
Property status : Rented
Type of building : Commercial building
Other contact details
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Tel no : 2-28815511
E-mail : - pimex@tp.silkera.net
-
vincent@pimex.com.tw
*Factories, Size & Locations*
=======================
Size :
6,418 sq. meters (Approx.)
Location :
Property status : Owned by PIMEX
D&L LTD
Type of building :
*Corporate & Organization Structure*
=============================
A medium sized company operated and managed by the owner and an
experienced team of professionals.
*Industry Ranking*
===============
- Ranked among top 200 trading company and one of the top 3 import paper
merchant in
www.pimex.com.tw
The design is professional and the content is well organized. At present it is
in Chinese version.
E-mail: pimextp@pimex.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 4
Total number of shares: 10,714,999
Shareholders Country Number Amount %
Mr. David Po-hsun Sung
Ms. Li-hsiang Tsai
Ms. Yen-chin Lin
Ms. Lin-yin Song
Management: Mr. Wen-che Juan,
Manager
Ms. Jessie Chin-hui Hsieh, Representative
Mr. Charles Chien-sheng Chen, Representative
Name Nationality
Job Description Dept. / Division
Mr. Wen-che Juan Taiwanese
Manager I.T.
Ms. Jessie Chin-hui Hsieh Taiwanese
Representative Sales
Mr. Charles Chien-sheng Chen Taiwanese
Representative -
*COMPANY DIRECTORS*
====================
1
Name : Mr. David Po-hsun Sung
Nationality : Taiwanese
*Main Products & Services*
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Specializes in the following areas of work:
1. Import and local purchase of various wallpaper, paperboard,
greaseproof, paper and related paper products.
2. Manufacture of various types of kraft paper, crepe insulating paper
and related paper products.
3. Selling predominantly to domestic market.
Products: Aluminum foil containers
Baking paper
Board, SBS
Bonded leather
Bristol board
*Brand*
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PIMEX
*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)
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 :
- CHUNG-RHY SPECIAL PAPER MFG CO LTD
- EMMANUEL INFORMATION GOODS CO LTD
- HOPE CHARTERED INT'L DEVELOPMENT CO LTD
- HSING CHUNG PAPER CORP
- SONOCO TAIWAN CO LTD
*Domestic Customers*
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Most of domestic sales are achieved through direct sales to local food
manufacturers and corporate clients.
*Local Distribution Network*
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An estimated 80% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 20% of the annual turnover is attributed to export.
*International Trade Ranking*
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The firm has been ranked among
Details of rank are as follows :
Year Rank
------ ----------
2006 1852
2005 1981
2004 1601
2003 1894
2002 2088
2001 2051
*LOCAL BRANCHES & MANAGEMENT*
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Branch : PIMEX D&L LTD -
Branch Address :
Branch Tel : [+886] 6-2438989
Branch Fax : [+886] 6-2433838
Branch Employees : 11
*(Subsidiaries, Joint-ventures & Affiliates)
=======================
Company Name : PIMEX ACCESSORIES CO LTD
Address : 9Fl,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Paper, Pulp & Products
Company Name : PIMEX PAPER SHANGHAI LTD
Address : 368 Songdong Lu Songjiang Gongyequ Songjiang Hsien
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Paper, Pulp & Products
PAYMENT RATING : 3 OBTAINED SCORES : 65
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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 with a paid-up capital of less than USD6
million, there is no legal requirement according to local corporate law for
public disclosure of detailed financial.
Although financial summaries were obtained for reference.
*BANK DETAILS*
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Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : HNBKTWTP
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : TACBTWTP
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2007 $28,062,764.03 $5,129,752.56 $844,900.42
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2005 $16,186,895.01 $859,947.99 $17,046,843.00
2006 $18,190,737.00 $1,412,949.00 $19,603,686.00
2007 $20,123,651.00 $1,953,313.97 $22,076,964.97
SC is considered medium-sized in its line with a development history of 18
years. The above credit amount appears to be beyond SC’s capacities, while a
credit line up to USD 200,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2653 Corrugated
paper and paperboard and articles thereof, includind boxes, pallets, etc.
Importing 2672 Paper, coated
and laminated,
Manufacturing 2600 Paper
and allied Products
Manufacturing 2653 Corrugated
paper and paperboard and articles thereof, includind boxes, pallets, etc.
Manufacturing 2672 Paper,
coated and laminated,
Manufacturing 3053 Gaskets,
packing, and sealing devices
Trading 2600 Paper and
allied Products
Trading 2653 Corrugated
paper and paperboard and articles thereof, includind boxes, pallets, etc.
Trading 2672 Paper,
coated and laminated,
Trading 3053 Gaskets,
packing, and sealing devices
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 4804392000 Condenser
paper, uncoated kraft, bleached, weighing
Exporting 4804590000 Kraft
paper and paperboard, uncoated, bleached, weighing
Exporting 4806100000 Vegetable
parchment paper, in rolls or sheets
Exporting 4808 Paper
and paperboard, corrugated etc, rolls etc
Exporting 4808900000 Paper
and paperboard, embossed or perforated, in rolls or sheets
Exporting 4810112000 Basic
paper to be sensitized for use in photography, coated, not over 10% mechanical
fibers, weighing not more than
Exporting 4810310020 Kraft
folding carton stock, clay coated, bleached and over 95% chemical fibers,
weighing
Importing 4801000000 Newsprint,
in rolls or sheets
Importing 4802 Paper,
uncoat, for writing etc, rolls; handmade paper
Importing 4802400000 Wallpaper
base (hanging paper), uncoated, in rolls or sheets
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Core
paperboards
Manufacturer Parchment
paper
Manufacturer Kraft paper
Manufacturer Packaging
boards
Manufacturer Board, SBS
Manufacturer Printing paper
Manufacturer Coated fine
paper
Manufacturer Baking paper
Manufacturer Grease proof
tissues
Manufacturer Grease-proof
wrapping paper
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.74 |
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1 |
Rs.74.37 |
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Euro |
1 |
Rs.62.78 |
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%)