MIRA
INFORM REPORT
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Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
PHARMANEER DRUGS INC |
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Registered Office : |
8FL, 206 Nanking East Rd Section 2 Chungshan Dist Taipei City 104, |
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Country : |
Taiwan |
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Date of Incorporation : |
24.03.2000 |
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Com. Reg. No.: |
70540830 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and Local Purchasing of Medicines and Cosmetic-Related
Products. Sales and Distribution of Purchased Products to Local Market. |
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 7,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
PHARMANEER
DRUGS INC
8FL, 206 NANKING EAST RD
SECTION 2 CHUNGSHAN DIST TAIPEI CITY 104,
TAIWAN
TEL: 886-2-25181121 FAX: 886-2-25041641
EXECUTIVE SUMMARY
INCORPORATION DATE : MARCH 24, 2000
REGISTRATION NO. :
70540830
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. LIN-CHUAN YEN (CHAIRMAN)
STAFF STRENGTH :
3
CAPITAL :
US$ 164,204
BUSINESS LINE : TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 7,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 32.13624 = 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 : 295.65 sq. meters
Location : Central Business District (CBD)
Property status : Rented
Type of building : Commercial
building
Comment : Premises is shared with PHARMANEER
LTD
*Factories, Size & Locations*
======================
The company is a trading house focused on importation and local sales
products of overseas products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small sized company mainly operated and managed by the owner of the
firm.
SC is not known to host website of its own at present.
E-mail: pharman@seed.net.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: N/A
Shareholders Country Number Amount %
Ms. Hsiao-ling Chen Taiwan n/a n/a n/a
Mr. Jerry Chien-chih Wang Taiwan 175.00 n/a n/a
Mr. Lin-chuan Yen Taiwan 160.00 n/a n/a
Mr. Chien-cheng Wang Taiwan 75.00
n/a n/a
Management: Mr. Jerry Chien-chih Wang, General Manager
Name Nationality
Job Description
Mr. Jerry Chien-chih Wang Taiwanese
General Manager
*COMPANY DIRECTORS*
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1
Name : Mr. Lin-chuan Yen
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of work :
1. Importing and local purchasing of a wide range of medicines and
cosmetic-related products.
2. Sales and distribution of purchased products to local market.
Products: Chemicals & allied products
Cosmetics
Health foods
Pharmaceutical
preparations
Seasoning
*Payment Terms*
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Sales
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Local : Cash or Credit
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 firms supply similar range of products :
- NUMAX ENTERPRISE CO LTD
- CHI HO TOWN ENTERPRISE CO LTD
- TAIKO PHARMACEUTICAL CO LTD
- HOW SHINE PHARMACEUTICAL CO LTD
- LIFE-LINK MEDICAL CO LTD
- MEDITHEK ENTERPRISES LTD
- KYLIN STAR BIOTECH INC
- LIN FAMILY BIOTECHNOLOGY CO LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales direct to
end-user customers, including Taiwan government.
*International Trade Activity*
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There is no record of exports because the prime focus of the firm's
activity is concentrated on local sales only.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name :
PHARMANEER LTD
Address :
8Fl, 206 Nanking East Rd Section 2 Chungshan Dist Taipei City 104 Taiwan
Country :
Taiwan
Relationship :
Affiliate
Legal Form : Private
company with limited liability
Company Type :
Importer
Industry :
Medical Equipment & Pharmaceutical
PAYMENT
RATING : 4 OBTAINED SCORES :
49
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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 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 : FIRST COMMERCIAL BANK CO LTD
Branch : Taipei City
Branch Address : 10Fl, 30 Chungking South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : FCBKTWTP
Bank Name : TAIPEI 1ST CREDIT COOPERATIVE ASSOCIATION
Branch : Tatung Dist, Taipei City
Branch Address : 133 Yeng Ping N Rd Section 2 Tatung Dist Taipei City
103 (Head Office)
SWIFT Code : This bank does not have a SWIFT Code
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $633,675.32 $108,630.05 $21,122.51
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $130,000.00 $0.00 $130,000.00
2006 $160,000.00 $0.00 $160,000.00
2007 $190,000.00 $0.00 $190,000.00
SC is considered small-sized in its line with a development history of 8
years. The above credit amount appears to be beyond SC’s capacities, while a credit line up to USD 7,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2000 Food and
Kindred Products
Trading 2035 Pickled
fruits and vegetables, vegetable sauces and seasonings, and salad dressings
Trading 2099 Food
products,
Trading 2800 Chemicals
and Allied Products
Trading 2834 Pharmaceutical
preparations
Trading 2844 Toilet
preparations
Trading 5122 Drugs/Druggists'
Sundries
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3003 Medicaments
of mixtures, not dosage etc form
Importing 3004 Medicaments,
mixed or not, in dosage etc form
Importing 3006 Pharmaceutical
goods (specified sterile prod etc.)
Trading 2103909070 Mixed
condiments and mixed seasonings
Trading 2900 Organic
chemicals
Trading 2934302700 Other
drugs,
Trading 3000 Pharmaceutical
products
Trading 3300 Oils
& resinoids, perfumery, cosmetic or toilet preparations
Trading 3800 Miscellaneous
chemical products
Trading 3824909050 Chemical
products and preparations of the chemical or allied industries
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Importing
China Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.40 |
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UK Pound |
1 |
Rs.83.15 |
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Euro |
1 |
Rs.65.74 |
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%)