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MIRA INFORM REPORT
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Report No. : |
510180 |
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Report Date : |
24.05.2018 |
IDENTIFICATION DETAILS
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Name : |
SWISS PHARMACEUTICAL CO. LTD. |
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Registered Office : |
No.182, Zhongshan Rd., Yongjiu Li,
Xinshi Dist., Tainan City 744, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
09.06.1966 |
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Com. Reg. No.: |
68770700 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of drugs |
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No. of Employees : |
350 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 200,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Taiwan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy that is driven largely by industrial manufacturing, and especially exports of electronics, machinery, and petrochemicals. This heavy dependence on exports exposes the economy to fluctuations in global demand. Taiwan's diplomatic isolation, low birth rate, rapidly aging population, and increasing competition from China and other Asia Pacific markets are other major long-term challenges.
Following the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013 signed a free trade deal with New Zealand - Taipei’s first-ever with a country with which it does not maintain diplomatic relations - and, in November of that year, inked a trade pact with Singapore. However, follow-on components of the ECFA, including a signed agreement on trade in services and negotiations on trade in goods and dispute resolution, have stalled. In early 2014, the government bowed to public demand and proposed a new law governing the oversight of cross-Strait agreements, before any additional deals with China are implemented; the legislature has yet to vote on such legislation, leaving the future of ECFA uncertain. President TSAI since taking office in May 2016 has promoted greater economic integration with South and Southeast Asia through the New Southbound Policy initiative and has also expressed interest in Taiwan joining the Trans-Pacific Partnership as well as bilateral trade deals with partners such as the US. These overtures have likely played a role in increasing Taiwan’s total exports, which rose 11% during the first half of 2017, buoyed by strong demand for semiconductors.
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 expected to account for nearly 20% of the island's total population by 2025.
The island runs a trade surplus with many economies, including China and the US, and its foreign reserves are the world's fifth largest, behind those of China, Japan, Saudi Arabia, and Switzerland. In 2006, China overtook 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. Taiwan since 2009 has gradually loosened rules governing Chinese investment and has also secured greater market access for its investors on the mainland. In August 2012, the Taiwan Central Bank signed a memorandum of understanding (MOU) on cross-Strait currency settlement with its Chinese counterpart. The MOU allows for the direct settlement of Chinese renminbi (RMB) and the New Taiwan dollar across the Strait, which has helped Taiwan develop into a local RMB hub.
Closer economic links with the mainland bring opportunities for Taiwan’s economy but also pose challenges as political differences remain unresolved and China’s economic growth is slowing. President TSAI’s administration has made little progress on the domestic economic issues that loomed large when she was elected, including concerns about stagnant wages, high housing prices, youth unemployment, job security, and financial security in retirement. TSAI has made more progress on boosting trade with South and Southeast Asia, however, which may help insulate Taiwan’s economy from a fall in mainland demand should China’s growth slow in 2018.
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Source
: CIA |
Company
Name And Address
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.182, Zhongshan Rd., Xinshi Dist., Tainan City 744, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-6-589-3966 |
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Fax Number: |
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E-mail: |
Notes:
The exact address is as above.
Credit
Summary
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Credit Rating: |
Company
Identification Details
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Registered Name: |
Swiss Pharmaceutical Co. Ltd. |
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Registered Address: |
No.182, Zhongshan Rd., Yongjiu Li, Xinshi Dist.,
Tainan City 744, Taiwan (R.O.C.) |
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Date of Foundation: |
1966-9-6 |
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Registration Number: |
68770700 |
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Registry: |
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Registered Capital: |
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Paid-up Capital: |
NTD 300,000,000 (USD 9,900,000) |
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Legal Representatives: |
Qinlong Liao |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed
at Stock Exchange: |
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Date
of Last Annual Return: |
History
Subject was incorporated on 1966-9-6 with registered number 68770700 as Joint Stock Company in Taiwan.
Corporate
Structure
Factory
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Name: |
Xinshi
Factory |
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Address: |
No. 182,
Zhongshan Road, Yongjiu Li, Xinshi District, Tainan City, Taiwan |
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Date
of Registration: |
2008-9-2 |
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Factory
Registration Number: |
99711554 |
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Factory Manager: |
Qinlong
Liao |
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Status: |
In
Production |
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Date of Last Annual Return: |
2017-2-17 |
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Major Products: |
089
Other foods 200
Pharmaceuticals and Medical Chemicals |
Shareholder
Major Shareholder
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Name |
Subscription Shares |
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Zhongda Investment Holdings Co., Ltd. (Literal Translation) |
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30,000,000 |
Management
Information
Core Management
Directors
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1 |
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Name |
Qinlong Liao |
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Position |
Chairman of the Board |
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2 |
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Name |
Changgeng Luo |
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Position |
Director |
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3 |
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Name |
Zhiwei Liao |
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Position |
Director |
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4 |
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Name |
Zhanghehui Su |
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Position |
Director |
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5 |
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Name |
Yuzhen Luo |
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Position |
Director |
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6 |
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Name |
Zhiyang Liao |
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Position |
Supervisor |
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Personnel Structure
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Total
Employees |
About 350
Employees |
Operation
Information
Offices &
Factories
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Headquarters |
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Add |
No.182, Zhongshan Rd., Xinshi Dist., Tainan City
744, Taiwan (R.O.C.) |
Production Information
l
Subject is engaged in manufacturing of
drugs, etc.
l
Subject has a factory in Taiwan for
production.
Purchase Information
l
The registered activities of subject:
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Business
Code |
Details |
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C110010 |
Manufacturing of beverage |
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C199990 |
Manufacturing of unclassified other
food |
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C201010 |
Manufacturing of feed |
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C801110 |
Manufacturing of fertilizer |
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C802041 |
Manufacturing of Western medicine |
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C802060 |
Manufacturing of veterinary drugs |
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C802070 |
Manufacturing of farm chemical |
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C802100 |
Manufacturing of cosmetics |
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CE01010 |
Manufacturing of general instrument |
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F102040 |
Wholesale of beverage |
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F102170 |
Wholesale of food and miscellaneous
goods |
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F103010 |
Wholesale of feed |
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F107041 |
Wholesale of farm chemical |
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F107050 |
Wholesale of fertilizer |
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F107070 |
Wholesale of veterinary drugs |
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F107200 |
Wholesale of chemical
materials |
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F108021 |
Wholesale of Western medicine |
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F108031 |
Wholesale of medical
equipment |
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F108040 |
Wholesale of cosmetics |
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F202010 |
Retail of feed |
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F203010 |
Retail of food, miscellaneous goods and
beverage |
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F207041 |
Retail of farm chemical |
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F207050 |
Retail of fertilizer |
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F207070 |
Retail of veterinary drugs |
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F208021 |
Retail of Western medicine |
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F208031 |
Retail of medical
equipment |
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F208040 |
Retail of cosmetics |
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F401010 |
The international trade |
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H701040 |
Industry development of specialized
area |
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H701060 |
Industry development of new towns and
communities |
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I103060 |
Industry of management consultancy |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The raw materials for production are
purchased both at home and from abroad.
l Subject
is engaged in sale of drugs, etc.
l
The major products are metabolic system
drugs, circulatory system drugs, psychiatric drugs, respiratory system drugs,
analgesic drugs, anti-infection drugs, digestive system drugs, health
supplement, etc.
l
Subject’s sales regions are Taiwan,
Some Southeast Asian Countries, etc.
l
Subject’s major customers are
hospitals, clinics, pharmacies, etc.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
1.
Domestic Purchase
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Products |
Raw
materials |
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Payment Terms |
T/T, Cash, etc. |
2.
Import
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Products |
Raw
materials |
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Payment Terms |
L/C, T/T, etc. |
1.
Domestic Markets
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Product |
Drugs, etc. |
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Selling Terms |
T/T, Cash, etc. |
2.
Export
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Product |
Drugs, etc. |
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Selling Terms |
L/C, T/T, etc. |
Financial
Information
Subject has no obligations to disclose its financial
statements to the third party according to the relevant policy in Taiwan and
the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff declined to disclose its
financials citing the grounds of company’s confidentiality; from other sources
we could not obtain such information, either.
Bankers
Subject
declined to disclose its bank details; from other source we could not obtain
the relevant information, either.
Public
Record
Mortgage
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1 |
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Case
Type: |
Chattel
Mortgage |
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Registered
Number: |
102403 |
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Debtor
Name: |
Swiss
Pharmaceutical Co., Ltd. |
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Registry: |
Economic
Development Bureau of Tainan City Government |
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Name
of Mortgagee: |
Mega
International Commercial Bank, Fucheng Branch |
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Date
of Registration: |
2010-12-20 |
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Amount
of Secure Claims: |
NTD
35,593,483 |
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Type
of Mortgage: |
Machinery
equipment and tools |
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2 |
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Case
Type: |
Chattel
Mortgage |
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Registered
Number: |
096310 |
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Debtor
Name: |
Swiss
Pharmaceutical Co., Ltd. |
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Registry: |
Economic
Development Bureau of Tainan City Government |
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Name
of Mortgagee: |
Mega
International Commercial Bank, Fucheng Branch |
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Date
of Registration: |
2008-12-2 |
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Amount
of Secure Claims: |
NTD
12,925,269 |
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Type
of Mortgage: |
Machinery
equipment and tools |
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3 |
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Case
Type: |
Chattel
Mortgage |
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Registered
Number: |
001960 |
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Debtor
Name: |
Swiss
Pharmaceutical Co., Ltd. |
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Registry: |
Economic
Development Bureau of Tainan City Government |
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Name
of Mortgagee: |
Chang
Hwa Bank, Yanping Branch |
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Date
of Registration: |
2015-11-23 |
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Amount
of Secure Claims: |
NTD
24,000,000 |
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Type
of Mortgage: |
Machinery
equipment and tools |
Lawsuit
Up to date
of reporting, no existing or latent litigation of the subject has been found.
Special
Note
Interview
Details
|
Name |
Ms. Chen |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.02 |
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1 |
INR 91.25 |
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Euro |
1 |
INR 80.07 |
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TWD |
1 |
INR 2.28 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.