|
Report Date : |
25.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAVIOR LIFETEC CORPORATION |
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|
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Registered Office : |
No.29, Kejhong Rd., Chu-Nan Site, Hsinchu Science-Based
Industrial Park |
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Country : |
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|
|
|
|
|
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Financials (as on) : |
30.06.2012 |
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|
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Date of Incorporation : |
30.01.2004 |
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Com. Reg. No.: |
80642673 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Research, development, manufacture and sales of BPC (bulk pharmaceutical chemicals) |
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|
|
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No. of Employees : |
Over 500 employees |
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but correct |
|
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist
economy with gradually decreasing government guidance of investment and foreign
trade. In keeping with this trend, some large, state-owned banks and industrial
firms have been privatized. Exports, led by electronics, machinery, and
petrochemicals have provided the primary impetus for economic development. This
heavy dependence on exports exposes the economy to fluctuations in world
demand. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20%
year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to
the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will
likely be less, according to most forecasters, because of softening global
demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging
population are major long-term challenges. Free trade agreements have
proliferated in East Asia over the past several years, but so far Taiwan has
been excluded from this greater economic integration largely because of its
diplomatic status with the exception of the landmark Economic Cooperation
Framework Agreement (ECFA) signed with China in June 2010. The MA
administration has said that the ECFA will serve as a stepping stone toward
trade pacts with other regional partners, and negotiations on a deal with
Singapore began this year. Follow-on components of ECFA, including deals on
trade in goods, services, and investment, have yet to be completed. Taiwan's
Total Fertility rate of just over one child per woman is among the lowest in
the world, raising the prospect of future labor shortages, falling domestic
demand, and declining tax revenues. Taiwan's population is aging quickly, with
the number of people over 65 accounting for 10.9% of the island's total
population as of 2011. The island runs a large trade surplus, and its foreign
reserves are the world's fourth largest, behind China, Japan, and Russia. Since
2005 China has overtaken the US to become Taiwan's second-largest source of
imports after Japan. China is also the island's number one destination for
foreign direct investment. Three financial memorandums of understanding,
covering banking, securities, and insurance, took effect in mid-January 2010,
opening the island to greater investments from the mainland's financial firms
and institutional investors, and providing new opportunities for Taiwan
financial firms to operate in China. Closer economic links with the mainland
bring greater opportunities for the Taiwan economy, but also poses new
challenges as the island becomes more economically dependent on China while
political differences remain unresolved.
Source : CIA
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.29, Kejhong Rd., Chu-Nan Site, Hsinchu Science-Based Industrial
Park |
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
|
|
E-mail: |
Notes: Subject’s exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
SAVIOR LIFETEC CORPORATION |
|
Registered Address: |
No.29, Kejhong Rd., Chu-Nan Site, Hsinchu Science-Based Industrial Park
|
|
Date of Incorporation |
|
|
Registration Number: |
80642673 |
|
Registry: |
Science Park Administration |
|
Registered Capital: |
NTD 1,500,000,000 (USD 50,850,000) (As of 2012.10, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 1,378,760,000 (USD 46,739,964) |
|
Legal Representatives: |
Zhanping Xu |
|
Legal Form: |
|
|
Principal Activities: |
Research, development,
manufacture and sales of BPC (bulk pharmaceutical chemicals) |
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on
Subject’s stock was public issued with stock symbol 4167 on
Awards
|
Year |
Awards |
|
2009 |
Blue chip importer
and exporter |
|
2010 |
Blue chip
importer and exporter |
|
2011 |
Blue chip
importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
2011 |
22,000,000 |
|
Name |
Subscription Shares |
|
Zhanping Xu |
4,919,882 |
|
CH & SB HOLD ING LTD(Cayman) |
|
|
3,526,000 |
|
|
Orgchem Technologies, Inc |
2,131,167 |
|
Qi Hang Enterprise Investment Co., Ltd (Literal Translation) |
6,297,000 |
|
Qi Guang Investment Co., Ltd (British
Virgin Islands) (Literal Translation) |
2,660,000 |
|
Sulin Liu |
1,574,000 |
|
San Fu Chemical Co., Ltd |
2,784,989 |
|
Harbinger Venture Management Co., Ltd. |
12,000 |
The information above
is that of subject’s major shareholders.
|
c |
13111417 |
|
Branch Name |
Tai-nan Branch |
|
Branch Manager |
Zhanping Xu |
|
Branch Address |
No. 11, Da-shueng
9th Rd., Tainan Science Park,Tainan County 74145, Taiwan, R.O.C. |
|
Tel: |
+886-6-505-1200 |
|
Fax: |
+886-6-505-2600 |
|
Date of
Incorporation: |
|
|
Date of Last
Annual Return: |
|
Plant
|
Name |
Tai-nan Injection
Plant |
|
Address |
|
|
Tel: |
+886-6-505-6351 |
Core
Management
|
1 |
|
|
Name |
Zhanping Xu |
|
Position |
Board Chairman
& Manager |
|
Date of
Appointment |
|
|
2 |
|
|
Name |
CH & SB HOLD
ING LTD |
|
Position |
Director |
|
3 |
|
|
Name |
Orgchem
Technologies, Inc |
|
Position |
Director |
|
4 |
|
|
Name |
Qi Hang
Enterprise Investment Co., Ltd (Literal Translation) |
|
Position |
Director |
|
5 |
|
|
Name |
Qi Guang
Investment Co., Ltd (British Virgin
Islands) (Literal
Translation) |
|
Position |
Director |
|
6 |
|
|
Name |
Sulin Liu |
|
Position |
Director |
|
7 |
|
|
Name |
Baoxin Lin |
|
Position |
Independent
Director |
|
8 |
|
|
Name |
Shuangren Zhou |
|
Position |
Independent
Director |
|
9 |
|
|
Name |
Zhida Yan |
|
Position |
Independent
Director |
|
10 |
|
|
Name |
San Fu Chemical
Co., Ltd |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Harbinger
Venture Management Co., Ltd. |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
Over 500 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.29, Kejhong Rd., Chu-Nan Site, Hsinchu Science-Based Industrial Park
|
Production
Information
l
Subject is engaged in manufacture of BPC and
Subject’s products have been certificated by the follows
|
Items |
Certification |
|
Imipenem |
Austria
ASMF09012 / Bulgaria / Canada DMF 2010-141 / Croatia / Czech Republic AP:
9667SAVIL Germany 2215
/ Netherland (THE) DMFNL 1987 / Hungary OGYI/15138-1/2010 / Italy
AIN/2009/5940 / Latvia / Lithuania / Macedonia / New Zealand TT60- 10/08367 /
Poland PL/DC-4003-0005/09 / Portugal 17/2009 / Romania / Singapore / Slovak
Republic / Spain IW/2391/09 / Sweden Dnr 116:2009/520007 / Swiss / United Kingdom /
United State 19937 |
|
Cilastatin Sodium |
Austria ASMF09013 / Bulgaria / Canada DMF
2010-142 / Croatia / Czech Republic AP: 9672SAVIL Germany 2216 / Netherland (THE) DMFNL 1988 /
Hungary OGYI/15138-1/2010 / Italy AIN/2009/5941 / Latvia / Lithuania /
Macedonia / New Zealand TT60- 10/08367 / Poland PL/DC-4003-0006/09 / Portugal
17/2009 / Romania / Singapore / Slovak Republic / Spain CS/2390/09 / Sweden
Dnr 116:2010/506869 / Swiss / United Kingdom/ United State 19938 |
|
Imipenem and Cilastatin sodium for Injection: |
Canada DMF 2011-168 / Greece 2262 / United State
21004 |
|
Meropenem: |
Australia 2009-008611 / Albania / Austria
ASMF09265 / Bosnia / Bulgaria / Canada DMF 2010-140 / Croatia / Czech
Republic 2011 AP: 10903SAVIO 10903SAVIO0211R01; 2009 AP: 10903SAVIO (THE) / Hungary 36183/80/09 / Ireland / Israel /
Italy AIN/2009/6413/Latvia / Lithuania / Macedonia / New Zealand TT60- Portugal / Romania / Serbia/ Singapore /Slovak
Republic / Slovenia / Spain MW/2578/09 / Sweden Dnr 116:2009/519986 / Swiss /
Turkey/United Kingdom MFD-34886-1- 02970-0001 / United State 21061 |
|
Meropenem and Sodium Carbonate |
Australia / Austria ASMF09266 / Bulgaria / Canada
DMF 2011-051 /Cyprus Republic 2010-DMF-1091 / Czech Republic /
Denmark/Estonia / Finland / France / Greece 2246 / Netherland (THE) / Hungary / Italy AIN/2009/6653
/ Latvia / Lithuania / Norway NO/H/0180/001-002/DC / Poland
PL/DC-4003-0434/09 / Portugal / Romania / Singapore / Slovak Republic / Spain / Sweden Dnr 116 2009/519989 /
United State 21861 |
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Basic chemical industry |
|
C801030 |
Manufacture of Precision chemical materials |
|
C802041 |
Manufacture of Western medicine |
|
IG01010 |
Biological technology services |
|
F108021 |
Wholesales of Western medicine |
|
F208021
|
Retails of Western medicine |
|
F401010 |
--International Trading Business |
|
|
Research, development, design, manufacture and
sales of the following items |
|
1.Carbapenem |
(1)Imipenem |
|
(2)Cilastatin |
|
|
(3)Meropenem |
|
|
(4)Ertapenem |
|
|
2. |
Intermedia of
the above mentioned BPC |
|
3. |
Biological
pharmaceutical technical service |
|
4. |
Relevant Import
and export business of the above mentioned products |
l
Subject purchases raw materials both at home
abroad.
l
The subject is mainly
engaged in sales of BPC
l
Subject’s products are
both sold in domestic and overseas market and subject exports to Japan, USA and
Europe, etc
l
Subject’s major customers
are pharmaceutical factories
Major products
|
1 |
Imipenem
(Sterile) |
|
2 |
Cilastatin
sodium (sterile Bulk) |
|
3 |
Imipenem and
Cilastatin sodium for Injection (Sterile Bulk) |
|
4 |
IMITIC, Powder
for IV Injection |
|
5 |
Meropenem
(Sterile Bulk) |
|
6 |
Meropenem and
Sodium carbonate (Sterile Bulk) |
|
7 |
MEROTIC, Powder for
IV Injection |
|
8 |
Ertapenem (Under
Development) |
|
9 |
Leuprolide
Acetate (Under Development) |
|
10 |
Goserelin
Acetate (Under Development) |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
etc |
COD, Credit
Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
etc |
CBD, Credit
Sales, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
BPC |
CBD, Credit
Sales, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
BPC |
CBD, Credit
Sales, etc |
100% |
Unit: NTD/000
|
|
|
|
|
971,194 |
1,075,675 |
|
|
Fund And Long Term Investments |
|
|
|
1,154,471 |
1,128,538 |
|
|
3,530 |
4,856 |
|
|
Other Assets |
22,072 |
10,318 |
|
2,285,247 |
2,334,012 |
|
|
Current Liabilities |
|
|
|
Account Payable |
85,460 |
99,645 |
|
Accrued Charge |
67,315 |
84,299 |
|
165 |
1,297 |
|
|
|
|
|
|
Total Current Liabilities |
526,715 |
723,474 |
|
Long-Term Liabilities |
556,766 |
291,200 |
|
Other Liabilities |
|
602 |
|
Total Liabilities |
1,083,481 |
1,015,276 |
|
Total Equity |
|
|
|
1,373,310 |
1,313,310 |
|
|
71,799 |
244,530 |
|
|
|
|
|
|
Equity |
1,201,766 (USD 40,739,867) |
1,318,736 (USD 44,705,150) |
(As of 2012.10, 1
NTD = 0.0339 USD)
Unit: NTD/000
|
|
~ |
2011 |
|
358,315 (USD 12,146,879) |
792,373 (USD 26,861,445) |
|
|
Sales Returns
And Allowance |
1,913 |
6,038 |
|
Net Sales |
356,402
|
786,335 |
|
509,967
|
924,591 |
|
|
Gross Profit |
-153,565
|
-138,256 |
|
|
|
|
|
Selling Expenses |
13,571 |
25,374 |
|
Administration
Expense |
18,337 |
40,197 |
|
R&D Expense |
47,445 |
93,641 |
|
Net Operating
Profit |
-232,918
|
-297,468 |
|
Non-operating
income and interest |
6,785 |
78,296 |
|
Non-operating
expenses and losses |
13,134 |
15,390 |
|
Profit Before
Tax |
-239,267
|
-234,562 |
|
Income tax |
|
|
|
Net Profit |
-239,267 (USD -8,111,151) |
-234,562 (USD -7,951,652) |
(As of 2012.10, 1
NTD = 0.0339 USD)
Unit: NTD/000
|
|
~ |
2011 |
|
Net Profit |
-239,267
|
-234,562 |
|
Net Cash Flow from
Operating |
-205,321
|
-458,821 |
|
Net Cash Flow
from Investing |
-261,103
|
-270,810 |
|
Net Cash Flow
from Financing |
374,603
|
844,618 |
|
Net
Increase (Decrease) in Cash and Cash Equivalents |
-91,821
|
114,987 |
|
Cash and Cash
Equivalents, Beginning of year |
220,704
|
105,717 |
|
Cash and Cash
Equivalents, End of year |
128,883
|
220,704 |
The Financials above
are not full financial statements and partial financial indicators are missing,
we supplied the financials what we can obtain from all of our available sources
as above for reference.
Subject did not introduce its bank details; from other source we can not
obtain the relevant information, either.
Mortgage
No chattel
mortgage record of subject has been found within the recent 3 months.
Lawsuit
Up to date of reporting,
no existing or latent litigation of the subject has been found.
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.59 |
|
|
1 |
Rs.85.81 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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 |
|
-- |
NB |
New Business |
-- |
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.