MIRA
INFORM REPORT
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Report Date : |
23.02.2011 |
IDENTIFICATION DETAILS
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Name : |
TEN POW CHEMICAL INDUSTRY CO LTD |
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Registered Office : |
40-25 San I Industrial Park San-I Hsiang Miaoli Hsien 367 |
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Country : |
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Date of Incorporation : |
07.06.1978 |
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Com. Reg. No.: |
55845290 |
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Legal Form : |
Private Company with Limited liability |
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Line of Business : |
Importing of polyamides, wool and related textile
ingredients |
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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
TEN POW CHEMICAL INDUSTRY CO LTD
40-25 SAN I INDUSTRIAL PARK SAN-I HSIANG MIAOLI HSIEN 367,
TAIWAN
TEL: 886-3-7877566
FAX: 886-3-7877568
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 7, 1978
REGISTRATION NO. : 55845290
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR PING-SHAN HSIEH (GENERAL MANAGER)
STAFF STRENGTH :
19
CAPITAL :
US$ 573,325
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
UP TO USD 100,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 31.66168 = 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
*Licenses
& Permits*
License number :
9963162800
Date issued
: 8 October, 1999
Issuing authority :
Industrial Development Bureau, MOEA
*Office
& Facilities*
Size
: 2,127 sq. meters (Approx.)
Location
: Miaoli Hsuen
Type of building :
Industrial building
Property status :
Rented
Comments :
Serves as office and factory
Other
Contact Details
Tel nos : 3-7876372
3-7877567
E mail : tenpow@seed.net.tw
*Corporate
& Organization Structure*
A small 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.
SC is not known to host website of its own at present.
E-mail: info@tepolon.com
For the past two years there is no record of litigation.
*Major
Shareholders*
Total number of shareholders: 4
Total number of shares: 1,100,000
Shareholders Number %
---------------------- ------------ ------
Mr. Meng-chi Hsieh 350,000.00 31.82
Ms. Li-hsuan Hsieh 350,000.00 31.82
Mr. Ping-shan Hsieh 200,000.00 18.18
Ms. Hsiu-fu Hsieh Huang
200,000.00 18.18
Management: Mr.
Ping-shan Hsieh, General Manager
Mr. Chun-hsu Yan, Manager
Name Nationality
Job Description
Mr. Ping-shan Hsieh Taiwanese
General Manager
Mr. Chun-hsu Yan Taiwanese
Manager
*Main
Products & Services*
Specializes in the following areas of work:
1. Importing of polyamides, wool and related textile
ingredients.
2. Manufacturing of synthetic filament materials, nylon
fibers, trilobals and related textiles products.
3. Selling to both domestic and international markets.
Products: Carpet spinning
Denire
Fibers
Mohair
Nylon 6
*Payment
Terms*
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*
The following locally based companies supply similar range
of products :
- GREEN BILLION INDUSTRIAL CO LTD
- TA CHING HWA ENTERPRISE CO LTD
- SUN HOME LEATHER CORP
- FORMOSA CHEMICALS & FIBRE CORP
- EMS-CHEMIE (ASIA) LTD
*Domestic
Customers*
Most of domestic sales are achieved through direct sales to
local manufacturers.
*Local
Distribution Network*
Approximately 30% annual turnover is attributed to local
sales.
*International
Trade Activity*
NOTE:
At the time of performing this report, the 2007 export
figures had not yet been released by the Ministry of Economic Affairs which
monitors exports and imports.
*Export
Markets*
Approximately 70% annual turnover is attributed to
export.
*LOCAL
BRANCHES & MANAGEMENT*
Branch : TEN POW CHEMICAL INDUSTRY CO LTD -
Branch Address : 37, Lane 480,
Branch Tel : [+886] 4-25222583
Branch Employees : 3
PAYMENT
RATING : 3 OBTAINED SCORES : 61
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Rating Key |
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 Taiwan corporate
law for public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*Bank
Details*
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : ICBCTWTP
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : TACBTWTP
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 100,000 appears to be within SC’s capacities.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Manufacturing 2221 Broad
woven fabrics, manmade fibers and silk
Manufacturing 2231 Broad
woven fabrics, wool
Manufacturing 2262 Finish
Man Fiber/Silk Fabric
Manufacturing 2299 Textile
goods,
Manufacturing 2399 Fabricated
textile products,
Trading 2221 Broad woven fabrics, manmade fibers and silk
Trading 2231 Broad woven fabrics, wool
Trading 2262 Finish Man Fiber/Silk Fabric
Trading 2299 Textile goods,
Trading 2399 Fabricated textile products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting 5501100000 Synthetic filament tow, of nylon or other polyamides
Exporting 5506100000 Synthetic staple fibers, carded or combed or otherwise
processed for spinning, of nylon or other polyamides
Manufacturing 3908 Polyamides
in primary forms
Manufacturing 3908900000 Other
polyamides in primary forms
Manufacturing 5911 Textile
products etc. for specific tech uses
Trading 3908100000 Polyamide-6,-11,-12,-6,6,-6,9,-6,10 or -6,12
Trading 3908900000 Other polyamides in primary forms
Trading 5911 Textile products etc. for specific tech uses
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturer Woolen
Manufacturer Denire
Manufacturer Spinning
Manufacturer Carpet
spinning
Manufacturer Trilobals
Manufacturer Nylon
fiber
Manufacturer Synthetic
filament materials
Manufacturer Thermal
bonding
Trader Carpetspinning
Trader Denire
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Argentina
Exporting to Asia
Exporting to Australia
Exporting to Belgium
Exporting to Brazil
Exporting to Canada
Exporting to Chile
Exporting to China
Exporting to Ecuador
Exporting to Europe
Exporting to Hong Kong
Exporting to India
Exporting to Indonesia
Exporting to Iran
Exporting to Italy
Exporting to Malaysia
Exporting to Mauritius
Exporting to Middle East
Exporting to New Zealand
Exporting to North America
Exporting to Oceania
Exporting to Pakistan
Exporting to Peru
Exporting to Poland
Exporting to South Korea
Exporting to Spain
Exporting to Thailand
Exporting to Turkey
Exporting to USA
Exporting to Uruguay
Importing from Belgium
Importing from Europe
Importing from Germany
Importing from New Zealand
Importing from North America
Importing from USA
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.20 |
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1 |
Rs.73.70 |
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Euro |
1 |
Rs.61.41 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.