MIRA
INFORM REPORT
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Report Date : |
24.11.2008 |
IDENTIFICATION DETAILS
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Name : |
WALSIN LIHWA CORP |
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Registered Office : |
11FL, |
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Country : |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
02.12.1966 |
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Com. Reg. No.: |
35412204 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Research and Development of power, telecommunication cables and other
related products. Importing of raw materials / components 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 15,000,000 |
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Status : |
Excellent |
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Payment Behaviour : |
regular |
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Litigation : |
Clear |
name & address
WALSIN
LIHWA CORP
11FL,
TEL: 886-2-27992211 FAX: 886-2-27992234
EXECUTIVE SUMMARY
INCORPORATION DATE : DECEMBER 2, 1966
REGISTRATION NO. :
35412204
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. YU-LON CHIAO (CHAIRMAN)
STAFF STRENGTH :
1,591
CAPITAL :
US$ 2,018,633,540
BUSINESS LINE : MANUFACTURER
TURNOVER :
NTD 79,627,000,000 (AS OF 2007)
EQUITIES :
NTD 63,896,232,000 (AS OF 2007)
PAYMENT :
EXCELLENT
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : STRONG
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : WELL-KNOWN
EXCHANGE RATE :
TWD 33.39857 = 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 –
Registered Legal Address: 12Fl, 117 Min Sheng East Rd Section 3
*Company History*
================
2 December, 1966 - Established
as a private limited liability company.
3 November, 1972 - Changed into
public limited company and listed on the Taiwan Stock Exchange.
1987 to 1993 - Signed
a technical agreement with
1993 - Joint venture with
CARPENTER TECHNOLOGY,
- Established WUHAN WALSIN ELECTRIC WIRE & CABLE CO LTD,
manufacturer of optical communication cables.
1995 -
Established WALSIN CHINA INVESTMENT CO LTD and four operating sites in
optical
fiber and cables.
1997 -
Established specialty steel plants in Changshu and Shanghai WALPAC, manufacturing
and
selling seamless steel pipes and straight bars.
- Formed HANNSTAR BOARD CORP, setting the base for PCB production .
1998 - Acquired WALSIN CARTECH's assets.
- Implemented ERP system to streamline business process.
- Formed HANNSTAR DISPLAY CORP, entering into the TFT-LCD industry
1999 - SAP system in operation.
2000 -
Established bare copper wire plant in Dongguan.
2001 -
Implemented SAP system in 10 operating sites in
business
infrastructure and streamlining the management system and business process.
2002 -
Reorganized business entity to Cables and Wires Business Group and Special
Steel
Business
Group.
- Implemented Yensui specialty steel plant expansion plan, adding
equipment for slab
refinement.
2003 -
Started slab production in Yensui plant, targeting stainless steel plate
market.
2004 -
Launched stainless steel slab and hot-rolled stainless steel band production
and sales in
Yenshui.
2005 -
Established three plants in
steel seamless pipes/tubes and steel wire.
- Expanded
and manufacturing 220kV high-voltage cables.
- Yenshui specialty steel plant
expanded the third Billet/slab CC.
2006 -
Acquisition of CHANGZHOU WUJIN CO LTD.
- Launched quality assurance building, and start to produce 500kV high-voltage
cables and
acquired ISO in
2007 -
Purchased YANTAI JIN CHERNG PRECISION WIRE ROD CO LTD
- Purchased of JIANGYIN YUANTAI STAINLESS STEEL PRODUCTS CO LTD share,
producing stainless steel wire.
-
production line.
*Company Name*
==============
Incorporated as : WALSIN
ELECTRIC WIRE & CABLE CORP
Date of incorporation : 2 December, 1966
Changed name to : WALSIN
LINWA ELECTRIC WIRE & CABLE CORP
Year of change : 1969
Changed name to : WALSIN
LIHWA CORP
Year of change : 1992
*Capital Details*
=============
Initial registered capital
: NTD 16,767,000,000.00
Capital increases as follows :
Date
Amount (NTD)
------
---------------------
-
20,959,550,660.00
-
32,443,142,610.00
2001
36,130,000,000.00
-
65,000,000,000.00
Paid-up capital : NTD
32,443,142,610.00
Market capitalization : NTD
32,468,420,000
Year
: 1995
*Licenses & Permits*
=================
(1)
License number : 9960130400
Date issued : 31
December 1974
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory license
(2)
License number : 9960138900
Date issued : 5 December
1969
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(3)
License number : 9962216401
Date issued : 2 June
1988
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(4)
License number : 9970780200
Date issued : 4
September 2008
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(5)
License number : 9965771401
Date issued : 11 October
1994
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory
license
*Loan & Facilities*
===============
Loan facility : USD 104,410,000.00
Lender : HONG KONG &
SHANGHAI BANKING CORP LTD, THE
Year of loan : 2001
*Office & Facilities*
================
Size : 216 sq.
meters (Approx.)
Location : Central
Business District (CBD)
Property status : Rented
Type of building :
Other contact details
----------------------------
Tel no : 2-22029121
Fax no : 2-71193382
E-mail :
amy_yen@walsin.com
Previous Contact Details
---------------------------------
(1)
Address : 12Fl, 117 Min Sheng East Rd Section 3
Tel no : 2-27192211
Fax no : 2-22025165
(2)
Address : 10Fl,
Tel no : 2-27712121
Fax no : 2-7285452
*Factories, Size & Locations*
=======================
The firm maintains five (5) manufacturing premises as listed below:
(1)
Building size : 7,054 sq ft
(Approx.)
Location :
Property status : Owned by WALSIN
LIHWA CORP
Facilities : Modern
Type of building :
(2)
Building size : 9,335 sq ft
(Approx.)
Location :
Property status : Owned by
WALSIN LIHWA CORP
Facilities : Modern
Type of building :
(3)
Building size : 16,654 sq
ft (Approx.)
Location : Taoyuan
Hsien
Property status : Owned by
WALSIN LIHWA CORP
Facilities : Modern
Type of building :
(4)
Building size : 34,598 sq
ft (Approx.)
Location : Yangmei
Chen
Property status : Rented
Facilities : Modern
Type of building :
(5)
Building size : 5,000 sq ft
(Approx.)
Location :
Property status : Rented
Facilities : Modern
Type of building :
*Corporate & Organization Structure*
=============================
Organization and management of the company is divided into the following
divisions :
- Administration
- Business
- Manufacturing
Maintains the following business units :
- Optical Telecommunications
- Wires & Cables
- Bare Wires
- Stainless Steel
- Shape Steel Products
*Industry Ranking*
===============
- The firm has been ranked among
Details of rank are as follows
:
Year Rank
------ -------
1992 31
- Generally regarded as one of the Top 1000 Companies in manufacturing
industry of
- Generally regarded as one of the Top 5000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------- ---------
2005 100
2006 58
2007 50
*Sales Ranking*
============
- Details of rank are as follows:
Year Rank
------ ------
1996 53
1997 49
1998 52
2000 53
2001 60
2002 58
- Generally regarded as one of the Top 500 Companies in terms of sales.
Details of rank as follows :
Year Rank
------ ------
2007 27
*Auditors*
=========
DELOITTE & TOUCHE
*Registrar*
=========
The firm does not employ any external Registrar. All management is
handled internally. Stock Market Code: 1605
www.walsin.com.tw
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: walsinspk@walsin.com
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 14
Total number of shares: n/a
Shareholders Country Number Amount %
Mr. Hui-ming Cheng
Mr. Jih-chang Yang
Mr. Tung-hsiung Wu
Ms. Patricia Yu-hui Chiao Taiwan 72,557,006.00 n/a n/a
Mr. Yu-chi Chiao
Mr. Yu-heng Chiao
Mr. Yu-lon Chiao
Mr. You-chun Chiao
CHING AN INVESTMENT CO LTD n/a 42,731,833.00 n/a n/a
YU HSIANG INVESTMENT CO LTD n/a
40,837,334.00 n/a n/a
JUI HUA INVESTMENT CO LTD n/a 32,500,050.00 n/a n/a
Mr. Wen-yuan
TIEN MU INVESTMENT CO LTD n/a 2,281,512.00 n/a n/a
Mr. Yu-yi
Management: Mr. Wen-hu Pan,
Supervisor
Mr. David Teh-cheng Wen, Manager
Mr. Teh-cheng Wen, Manager
Name Nationality
Job Description Dept. / Division
Mr. Wen-hu Pan Taiwanese
Supervisor Account
Mr. David Teh-cheng Wen Taiwanese
Manager Finance
Mr. Teh-cheng Wen Taiwanese
Manager Finance
Mr. Wang-tsai Lin Taiwanese
Manager Finance
Ms. Hui-ching Chen Taiwanese
Director Human Resources
Mr. Wei-ben
Ms. Amy Ching-chan Yen Taiwanese
Manager Int'l
Mr. Jerry Chao-yang Cheng Taiwanese
Manager Int'l Sales
Mr. Wen-chi Chen Taiwanese
Manager Int'l Marketing
Mr. Chao-chung Hu Taiwanese
Manager Int'l Projects
Mr. Chui-ko Chiu Taiwanese
Manager Product
Ms. Kristine Yu-wen Chen Taiwanese
Manager Public
Relations
Mr. Jou-chi Chou Taiwanese
Manager R&D
Mr. Ho-hui Cheng Taiwanese
Assistant Sales
Mr. Ching-chuan Chen Taiwanese
Executive Sales & Marketing
Mr. Chiu-yi Chen Taiwanese
Executive Sales & Marketing
Mr. Shih-hsiung Chiou Taiwanese
Executive Sales & Marketing
Mr. You-chun Chiao Taiwanese
CEO -
Mr. Yu-chi Chiao Taiwanese
General Manager -
Mr. Yueh-sheng Liang Taiwanese
General Manager -
Mr. Chin-hui Cheng Taiwanese
Manager -
Mr. Tsao-ming Ho Taiwanese
Manager -
Mr. Wen-chun Chang Taiwanese
Managing Director -
Mr. Patricia Chiao Taiwanese
President -
Ms. Patricia Yu-hui Chiao Taiwanese
President -
Ms. Peng-wen Kao Taiwanese
Senior Manager -
Mr. Yu-heng Chiao Taiwanese
Vice Chairman -
*COMPANY DIRECTORS*
====================
1
Name : Mr. Pai-yun Hung
Nationality : Taiwanese
2
Name : Mr. Ting-piao Chiao
Nationality : Taiwanese
3
Name : Mr. Wen-chun Chang
Nationality : Taiwanese
4
Name : Mr. Wu-hsiung Hung
Nationality : Taiwanese
5
Name : Mr. You-chun Chiao
Nationality : Taiwanese
6
Name : Mr. Yu-heng Chiao
Nationality : Taiwanese
7
Name : Mr. Yu-lon Chiao
Nationality : Taiwanese
8
Name : Ms. Patricia Yu-hui Chiao
Nationality : Taiwanese
*Main Products & Services*
======================
Specializes in the following main areas of work:
1. Research and Development of power, telecommunication cables and other
related products.
2. Importing of raw materials / components for in-house OEM production
3. Manufacturing a wide range of copper wire, power cable,
communications cables, stainless steel timber.
4. Export and domestic sales of its finished products.
Sales breakdown as per product:
Items %
-------
---
Stainless steel 37.7
Bare Copper 36.4
Power W & C 14.4
Other 4.6
Straight
Telecom C-Cable 2.4
Products: Bare copper wires
Cables, steel
Cables, welding
Carbon
electrodes
Communication
electric cable
*Brand*
======
Walsin Lihwa
*Payment Terms*
==============
Sales
-------
Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic Transfer
(T/T)
Purchases
--------------
Local : 30-90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
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 : 1995
Certification Item : For
Electric-Engineering Equipment
*Production Capacity
==================
(1)
Item
Maximum capacity Current
Capacity
Year
------- -------------------------
----------------------- ---------
Bare copper
180,000 (NTD 1,000/Amounts)
148,090 (NTD 1,000/Amounts)
2007
Power Line
34,920 (NTD 1,000/Amounts)
25,399 (NTD 1,000/Amounts)
2007
Communication copper 1,080
(NTD 1,000/Amounts) 433 (NTD
1,000/Amounts) 2007
Communication Cable 240
(NTD 1,000/Amounts) 98
(NTD 1,000/Amounts) 2007
Stainless Steel
350,000 (NTD 1,000/Amounts)
300,712 (NTD 1,000/Amounts)
2007
Direct steel rods
18,700 (NTD 1,000/Amounts)
15,489 (NTD 1,000/Amounts)
2007
(2)
Current capacity of metal wires per year:
Current Capacity (tons)
Production share Year
--------------------------------
-----------------------
-------
57,053 25.4% 1985
63,373
28.9% 1984
58,272
24.4% 1983
*Associations*
===========
Member of the following associations:
-
-
*Projects*
========
Type of Project : Development of rechargeable litium ion batteries
Project Partner : YUASA DELTA TECHNOLOGY
INC
ADDA
CORP
PACIFIC TECHNOLOGY CORP
Industrial Technology Research Institute
Specification : This development
project was carried out under a Ministry of Economic Affairs
-
Through this development Lithium battery will play a crucial role in the
electronics industry in the future, especially with the advent of highly mobile
electronics products
-
WALSIN and the other three companies mentioned above will be able to use the
resulting technology royalty-free
*Competitors*
===========
The following locally based companies supply identical range of products
:
- SHINN FOU COPPER INDUSTRIAL CORP
- ORIENTAL HAPPY ENTERPRISE CO LTD
- SHEANG DER METAL ENTERPRISE CO LTD
- DER HSIN FORGING CO LTD
- KUON CHEN HARDWARE CO LTD
- KUANG TAI METAL INDUSTRIAL CO LTD
*Local Distribution Network*
=======================
An estimated 84% of the annual turnover is attributed to local sales.
*Export Markets*
==============
An estimated 16% of the annual turnover is attributed to export.
*International Trade Ranking*
========================
The firm has been ranked among
Details of rank are as follows :
Year Rank
----- ------
1997 49
2005 34
2006 25
2007 23
*LOCAL BRANCHES & MANAGEMENT*
=================================
Branch : WALSIN LIHWA CORP
Branch Address : 566 & 566-3 Kao Shih Rd Yangmei Chen, Taoyuan Hsien
326
Branch Employees : 100
Branch : WALSIN LIHWA CORP -
Branch Address : 3Fl-2, 286-8 Hsin Ya Rd Chienchen Dist,
Branch Tel : [+886] 7-8123974
Branch Employees : 20
Branch : WALSIN LIHWA CORP -
Branch Address :
Branch Tel : [+886] 2-22029121
Branch Fax : [+886] 2-27217941
Branch : WALSIN LIHWA CORP - YENSHUI CHEN
Branch Address : 3-10 Shi Jou Liau Yenshui Chen,
Branch Tel : [+886] 6-6520911
Branch Fax : [+886] 6-6520954
*(Subsidiaries, Joint-ventures & Affiliates)
=============================
Company Name : BARNARD PROFITS LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : CHANGSHU WALSIN METAL INDUSTRIAL CO LTD
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Metals & Metal Products
Company Name : CHANGSHU WALSIN SPECIALTY STEEL CO LTD
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Metals & Metal Products
Company Name : CHENG TA (
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : CHIN HSIN INVESTMENT CO LTD
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : CHIN-CHERNG INVESTMENT CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : CONCORD INDUSTRIES LTD
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : DACHIEN INVESTING CO
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : DAWNREDWOOD LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : DONGGUAN WALSIN WIRE & CABLE LTD
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Telecommunications
Company Name : ELITE HERO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : HANGZHOU WALSIN POWER CABLE & WIRE CO LTD
Address : 46,
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : HANNSTAR BOARD CORP
Address :
Country :
Relationship : Affiliate
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : HANNSTAR BOARD TECHNOLOGY (JIANGYIN) CORP
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : HANNSTAR COLOR CO LTD
Address : 7Fl Walsin Financial Bldg 117 Min Sheng East Rd Section 3
Country :
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Trader
Industry : Computer & Information Products
Company Name : HANNSTAR DISPLAY CORP
Address :
Country :
Relationship : Affiliate
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : HANNSTAR DISPLAY CORP -
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : HANNSTAR ELECTRONICS CORP
Address : 5, Lane 211,
Country :
Relationship : Affiliate
Legal Form : Public Company
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : INNO EPI INC
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : JIANGYIN WALSIN STEEL CABLE CO LTD
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : JIANGYIN YUANTAI STAINLESS STEEL PRODUCTS CO LTD
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Metals & Metal Products
Company Name : JOINT SUCCESS ENTERPRISES LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : KOLIN CONSTRUCTION & DEVELOPMENT CO LTD
Address : 11Fl Walsin Financial Bldg 117 Min Sheng East Rd Section 3
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Construction & Construction Materials
Company Name :
Address : 76 Xingang Ave
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name :
Address : 78 Xinsheng Dadao
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : NANJING WALSIN WIRE & CABLE CORP
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : SHANGHAI BAIHE WALSIN LIHWA SPECIAL STEEL CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : SHANGHAI PENG HUI ELECTRIC PROJECT CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : SHANGHAI WALPAC MATERIAL PRODUCTS CO LTD
Address : 2402
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Metals & Metal Products
Company Name : SHANGHAI WALSIN ELECTRIC WIRE & CABLE CO LTD
Address : 1101 Huyi Gonglu Nanxiang Dist
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electrical Equipment & Appliances
Company Name : SHANGHAI WALSIN LIHWA POWER WIRE & CABLE CO LTD
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : TA HSIAO BUILDING CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Professional Services
Company Name : TAIWAN ABE BRIGHT SHAFT CORP
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : TOUCH MICRO-SYSTEM TECHNOLOGY CORP
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : VILA VILA CORP
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : WALSIN (
Address : Rm 2802-2807, 28Fl
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : WALSIN (
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : WALSIN ENERGY CORP
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Motor Vehicles, Parts & Accessories
Company Name : WALSIN INDUSTRIAL LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : WALSIN INFO-ELECTRIC INC
Address : 2Fl,
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electrical Equipment & Appliances
Company Name : WALSIN LIHWA HOLDINGS LTD
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : WALSIN LIPPO INDUSTRIES PT
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Metals & Metal Products
Company Name : WALSIN PRECISION TECHNOLOGY SDN BHD
Address : 2115-1 Kawasan Perindustrian Air Keroh Fasa IV Air Keroh
Melaka 75450 Malacca
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : WALSIN SPECIALTY STEEL CORP
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : WALSIN TECHNOLOGY CORP
Address :
Country :
Relationship : Affiliate
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : WALSIN TONG INT'L CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
Company Name : WALSIN-CARTECH SPECIALTY STEEL CORP
Address : 3 12 Lin Hsichou Liao Ching Shui Li Yenshui Chen 737
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Metals & Metal Products
Company Name : WALTON ADVANCED ENGINEERING INC
Address :
Country :
Relationship : Joint-Venture
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : WIJHAN WALSIN WIRE & CABLE CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : WINBOND ELECTRONICS CORP
Address : Hsinchu Science-Based Industrial Park
Country :
Relationship : Invested Entity - Minor Equity
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : WUHAN WALSIN WIRE & CABLE CO LTD
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Telecommunications
Company Name : YANTAI JIN CHERNG PRECISION WIRE ROD CO LTD
Address : ETDZ
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Metals & Metal Products
*Subsidiaries, Joint-venture & Affiliates*
================================
Maintains 20 manufacturing facilities throughout
Also maintains 57.11% shares on INTEGRAL CHEMICAL CO LTD.
WALSIN ADVANCED ELECTRONICS LTD
This is a joint venture between the following companies :
- WALSIN LIHWA CORP
- WINBOND ELECTRONICS CORP
- VANGUARD INT'L SEMICONDUCTOR CORP
PAYMENT RATING : 1 OBTAINED SCORES : 85
|
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 LARGE
amounts depending on individual judgement experience.
*BANK DETAILS*
===============
Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Chungshan Dist,
Branch Address :
SWIFT Code : CCBCTWTP
Bank Name : CITIBANK NA
Branch : Sungshan Dist,
Branch Address : Walsin Financial Bldg 117-1 Min Sheng East Rd Section
3
SWIFT Code : CITITWTX
Bank Name : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address : 10Fl,
SWIFT Code : FCBKTWTP
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
Balance Sheet
Currency : NTD
Denomination : In Thousands
2006 2007
---------------- ----------------
Current Assets
24,665,377 23,042,534
42,045,184 47,758,992
Property 14,785,571 15,871,741
Other Assets
531,677 785,521
Current Liabilities (Before) 8,204,511 16,805,202
(After)
13,310,317 17,818,667
Long-term Liabilities
9,193,389 5,500,000
Other Liabilities
1,090,606 1,126,222
Common stock
32,443,143 32,443,143
Capital Reserve
16,657,512 16,670,618
Retained Earnings (Before) 15,534,183 12,067,183
(After)
10,428,377 11,053,718
Total Assets
82,027,809 87,458,788
Total Liabilities (Before)
18,619,638 23,562,556
(After)
23,725,444 24,576,021
Total Shareholder's Equity (Before) 63,408,171 63,896,232
(After)
58,302,365 62,882,767
Income Statement
Currency : NTD
Denomination : In Thousands
2006 2007
----------------
----------------
Operating revenue
63,419,880 79,627,000
Gross Profit
6,623,206 2,754,301
Operating Income
5,365,377 1,628,026
Non-operating income
4,563,304 1,691,740
Non-operating expense
1,041,106 1,082,960
Net Income
8,496,471 1,638,806
Earnings (losses) per share (After) 2.67 0.51
*Financial Ratios*
=============
2006 2007
---------------- ----------------
Ratio of liabilities to Assets %
22.70 26.94
Ratio of long-term capital to fixed Assets% 491.03 437
Current ratio% 300.63 137.12
Quick ratio%
198.11 74.76
Interest coverage 2,566.43 429.77
Turnover of receivable (times)
26 28.74
Average collection period of receivable 14.08 12.70
Turnover of inventories (times)
7.71 8.38
Average days of sales
47.34 43.56
Turnover of total assets (times) 0.77 0.91
Return on total assets%
10.36 1.87
Return on shareholder's Equity% 13.40 2.56
Operating Income
16.54 5.02
Net Income before tax
27.39 6.89
Profit margin% 13.40 2.06
*Long & Short Term Investment*
===========================
Type of investment : Investment on project in Mainland
Date of investment : April 1996
Investment amount : USD 26,000,000.00
Details :
Permission to invest in the project was gained from Economics Ministry
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
1998 $559,962,962.96 $2,299,370,370.37 $34,370,370.37
2001 $492,484,039.47 $2,063,987,231.57 -$62,478,235.64
2002 $557,861,454.44 $1,933,946,536.36 $32,078,183.39
2003 $641,533,246.83 $2,079,998,356.40 $8,910,409.46
2004 $1,108,339,218.05 $2,093,259,097.74 $235,996,511.28
2005 $1,262,620,094.79 $2,132,202,685.62 $49,192,101.11
2006 $1,917,166,868.20 $2,479,679,836.76 $256,846,160.82
2007 $2,402,745,926.37 $2,639,070,247.44 $49,450,995.78
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
1998 $242,700,000.00 $81,400,000.00 $324,100,000.00
1999 $242,200,000.00 $88,800,000.00 $331,000,000.00
2005 $499,526,066.35 $158,102,812.99 $657,628,879.34
2006 $901,753,325.27 $323,458,282.95 $1,225,211,608.22
2007 $1,018,406,759.20 $375,678,937.84 $1,394,085,697.04
SC is considered large-sized in its line with a long development
history. The above credit amount appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3351 Copper, rolled
or drawn
Exporting 5063 Electrical
Equip/Wiring
Importing 3914 Silverware,
plated ware, and stainless steel ware
Manufacturing 3496 Fabricated
wire products,
Manufacturing 3643 Current-carrying
wiring devices
Manufacturing 3669 Other
communications equipment, and parts,
Trading 3496 Fabricated
wire products,
Trading 3643 Current-carrying
wiring devices
Trading 3669 Other
communications equipment, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7222 Bars
& rods, st steel; angles etc, stainless steel
Exporting 7407100000 Bars,
rods and profiles of refined copper
Exporting 7407105050 Bars
and rods of refined copper
Exporting 7408190000 Refined
copper wire, with a maximum cross-sectional dimension under
Exporting 8544 Insulated
wire, cable etc; opt sheath fib cables
Exporting 8544592080 Insulated
electric conductors of copper
Exporting 8544700000 Insulated
optical fiber cables with individually sheathed fibers
Importing 2507000000 Kaolin
and other kaolinic clays, whether or not calcined
Importing 2933901100 Carbazole
Importing 3824909050 Chemical
products and preparations of the chemical or allied industries
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer PE
(polyethylene)
Importer Nickel
alloys
Importer Carbon
electrodes
Importer Steel wire
Manufacturer Power cables
Manufacturer Ht & SCR
controllers
Manufacturer Steel wire
Manufacturer Copper wires
Manufacturer Copper cables
Manufacturer Galvanized steel wire
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.09 |
|
|
1 |
Rs.74.90 |
|
Euro |
1 |
Rs.63.40 |
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%)