MIRA
INFORM REPORT
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Report Date : |
14.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
DAH FENG CAPSULE INDUSTRY CO LTD |
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Registered Office : |
121 Hsi An St Fengyuan City
Taichung Hsien 420 |
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Country : |
Taiwan |
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Date of Incorporation : |
08.11. 1976 |
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Com. Reg. No.: |
55823351 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and Local Purchasing of various types of Gelatin, Isinglass and
related Raw Materials for in-house use. |
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 180,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
DAH
FENG CAPSULE INDUSTRY CO LTD
121 HSI AN ST FENGYUAN CITY
TAICHUNG HSIEN 420, TAIWAN
TEL: 886-4-25262747 FAX: 886-4-25263485
EXECUTIVE SUMMARY
INCORPORATION DATE : NOVEMBER 8, 1976
REGISTRATION NO. :
55823351
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. YI-PING SUNG (CHAIRMAN)
STAFF STRENGTH :
64
CAPITAL : US$ 1,863,354
BUSINESS LINE : MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 180,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 32.50950 = 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*
===============
1967 - Founded in Feng Yuan City, Taiwan
1977 - Completed the installation of first automated capsule production
line imported from the United States
1988 - Relocated to the new production facility with four new automated
production lines
2000 - Capacity has increased to eight production lines
2002 - BioCaps became the first sales division, oversee the Sales and
Marketing in the North America
*Licenses & Permits*
================
License number : 9963318300
Date issued : 10
December, 1988
Issuing authority : Industrial
Development Bureau, MOEA
*Factory Contact Details*
===================
Address : 203 Chung Shan Rd Section 3
Zip : 427
Suburb : Tantzu Hsiang
State : Taichung Hsien
Tel : [+886] 4-25330801
Fax : [+886] 4-25333245
*Office & Facilities*
===============
Size : 608
sq. meters (Approx)
Location : Taichung
Hsien
Property status : Purchased by
Mr. William Chen-hai Sung (General Manager)
Type of building : Retail outlet in a semi-residential building
Other e-mail :
dfc@ms7.hinet.net, dfcapsule@hotmail.com, mina@dfc.con.tw
*Factories, Size & Locations*
======================
Size :
4,108 sq. meters
State :
Taichung Hsien
Property status : Owned by DAH
FENG CAPSULE INDUSTRY CO LTD
Type of building : Industrial building
*Corporate & Organization Structure*
=============================
A small-sized company specialized company operated and managed by the
owner and family members.
www.dfc.com.tw
The design is professional and the content is well organized. At present it is
in Chinese version.
E-mail: service@dfc.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 4
Total number of shares: 57,700
Shareholders Country Number Amount %
Mr. William Chen-hai Sung Taiwan 24,500.00 n/a 42.46
Mr. Wei-jen Sung Taiwan 15,700.00 n/a 27.21
Ms. Yi-ping Sung Taiwan 11,000.00 n/a 19.06
Mrs. Ling-hsiang Sheng Sung Taiwan 6,500.00 n/a 11.27
Management: Mr. William
Chen-hai Sung, General Manager
Ms. May Chiu, Representative
Name Nationality
Job Description
Mr. William Chen-hai Sung Taiwanese
General Manager
Ms. May Chiu Taiwanese
Representative
*COMPANY DIRECTORS*
=====================
1
Name : Ms. Yi-ping Sung
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of works:
1. Importing and local purchasing of various types of gelatin, isinglass
and related raw materials for in-house use.
2. Research and development of various medicinal capsules.
3. Manufacturing of a wide range of capsules, empty, hard gelatin
capsule to major companies in the pharmaceutical and nutriceutical industries
in Taiwan.
4. Selling to both domestic and international markets.
Products: Capsule machinery
Capsules
Cellulose
ethers
Empty gelatin
capsules
Empty hard gelatin
capsules
*Brand*
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BIO V
DAH FENG
*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)
*Machinery & Equipment*
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Machinery/ Equipment include:
- Semi-Automatic Capsule Filling Machine
- Water purification systems and Air conditioning systems
- Capsule inspection machine
- Capsule printing equipment
- Filling test
*Quality Certification*
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Obtained the following certifications:
(1)
Type of certification : GMP Certification
Issuing authority : Ministry
of Health - Taiwan
Year of certification : 1987
(2)
Type of certification : cGMP Certification
Issuing authority : Ministry
of Health - Taiwan
Year of certification : 2001
(3)
Type of certification : ISO 9001
Year of certification : 2001
(4)
Type of certification : Kosher Certification
Year of certification : 2002
(5)
Type of certification : Halal Certification
Year of certification : 2002
(6)
Type of certification : Drug Master File Certification
Issuing authority : US Food
and Drug Administration
Year of certification :
2004
*Competitors*
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The following locally based companies supply similar range of products:
- CHINA CHEMICAL & PHARMACEUTICAL CO LTD
- CHUNGHWA CHEMICAL SYNTHESIS & BIOTECH CO LTD
- GUANG DE LI CAPSULES CO LTD
- KOJAR PHARMACEUTICAL INDUSTRIAL CO LTD
- KUO AN PHARMACEUTICAL CO LTD
- LOTUS PHARMACEUTICAL CO LTD
*Local Distribution Network*
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Approximately 40% of the annual turnover is attributed to local sales
which are achieved through direct sales to local manufacturers.
*Export Markets*
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Approximately 60% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : BIOCAPS
ENTERPRISE INC
Address :
8932 Ardendale Ave San Gabriel 91775 California USA
Country :
USA
Relationship :
Subsidiary
Legal Form :
Private company with limited liability
Company Type : Trader
Industry :
Plastics & Products
PAYMENT RATING : 3 OBTAINED SCORES :
63
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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 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*
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Bank Name : HUA NAN
COMMERCIAL BANK LTD
Branch : Chungcheng
Dist, Taipei City
Branch Address : 38 Chung King South Rd Section 1 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : HNBKTWTP
Bank Name : MEGA INT'L
COMMERCIAL BANK CO LTD
Branch : Chungcheng
Dist, Taipei City
Branch Address : 123 Jhongsiao E Rd Section 2 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : ICBCTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $3,741,701.87 $5,733,252.87 $241,400.12
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2005 $1,752,364.99 $1,256,984.99 $3,009,349.98
2006 $1,253,986.97 $1,765,985.01 $3,019,971.98
2007 $1,743,620.97 $2,253,915.00 $3,997,535.97
SC is considered small-sized in its line with a development history of
32 years. Taking into consideration of SC’s general performance, a credit line
up to USD 180,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2821 Plastics
materials and resins
Importing 2891 Adhesives
and sealants
Manufacturing 3082 Unsupported
plastics profile shapes
Manufacturing 3089 Plastics
products,
Manufacturing 3559 Special
industry machinery, and parts,
Manufacturing 3569 General
industrial machinery and equipment, and parts,
Manufacturing 5084 Industrial
Machinery/Equip
Trading 3089 Plastics
products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3503 Gelatin
& deriv; isinglass; glues, animal
Importing 3503001000 Fish glue
Importing 3912390000 Cellulose ethers,
Manufacturing 3900 Plastics
& articles thereof
Manufacturing 8479 Machines
etc having individual functions, parts
Manufacturing 9602 Veg
molded resin etc carving material
Manufacturing 9602001040 Unfilled
gelatin capsules
Trading 9602001040 Unfilled
gelatin capsules
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Capsule
machinery
Manufacturer Medical
capsules
Manufacturer Capsules
Manufacturer Vegetarian
capsules
Manufacturer Unfilled gelatin capsules
Trader Unfilled
gelatin capsules
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Importing
Europe Importing
North America Exporting,
Importing
South America Importing
Brazil Importing
China Importing
Germany Importing
South Korea Importing
USA Exporting
,Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
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%)