MIRA
INFORM REPORT
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Report Date : |
31.07.2007 |
IDENTIFICATION DETAILS
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Name : |
CHROMA CHEMICAL CORP |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
October.21, 1991 |
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Com. Reg. No.: |
86368271 |
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Legal Form : |
Private |
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Line of Business : |
Importing of raw materials for dyestuffs. Purchasing a wide range of chemicals. Manufacturing of a wide range of dyes and other related
products. |
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 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
CHROMA CHEMICAL CORP
KUANYIN INDUSTRIAL PARK
TAOYUAN HSIEN 328,
TEL : [+886] 3-4837088
FAX : [+886] 3-4837058
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER.21, 1991
REGISTRATION NO. :
86368271
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. WAN-FA TSAI (CHAIRMAN)
STAFF STRENGTH :
46
CAPITAL :
US$ 5,800,604
BUSINESS LINE :
MANUFACTURER
TURNOVER :
US$10,157,194.68 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.9026 = US$1 AS OF 2007-7-26
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
*Company Name*
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Previous name
: EVERCHROME CHEMICAL INDUSTRIAL CORP
Changed name to
: CHROMA CHEMICAL CORP
Date of change
: N/A
*Company History*
===============
1991 -
Founded by Mr. Wan-fa Tsai.
1992 - Set
up its factory near the
July 1993 - Started
with the initial annual production capacity of 1,500 tons for diversified
dyes.
2000 - Set
up CHROMA CHEMICAL CORP in
*Company Registration*
===================
License number :
86368271
Date issued
: 21 October, 1991
Issuing authority :
Ministry of Economic Affairs (MOEA)
Legal form
: Private Limited Company
*Capital Details*
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Paid-up capital : NTD 192,000,000.00
*Office & Facilities*
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Size
: 5,166.34 sq meters
Location
: Taoyuan Hsien
Status
: Owned under CHROMA CHEMICAL CORP
Type of building
: Industrial
Comments
: Serves as office, factory and warehouse.
Other e-mail
:
chroma.chroma@msa.hinet.net
*Factories, Size & Locations*
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Land size : 10,000 square meters
*Corporate & Organization Structure*
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A medium-sized company operated and managed by an
experienced team of professionals.
*Licenses & Permits*
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License number :
9962214900
Date issued
: 22 June, 1993
Issuing authority :
Industrial Development Bureau, MOEA
Type of license :
Factory license
*Reputation*
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Reference checking for the purpose of establishing the
firm's reputation within the respective industry failed to reveal any negative
information.
Web
site: www.chromadyes.com
The design is professional and
the content is well organized. At present it is both in Chinese and English
versions.
Email : info@chromadyes.com
For the past 16 years there is no record of litigation.
Major Shareholders*
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Shareholders' Name No. of Shares
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Mr. Wan-fa Tsai 7,094,000
Ms. Pao-yu Ho 3,136,000
Mr. Tung-han Tsai 1,128,000
Mr. Ya-lu Tsai
1,128,000
Management : Ms. Pao-yu Ho, Officer
Ms. May Hsiu-mei Liu, Manager
Mr. Wan-fa Tsai, General Manager
Name
Nationality Job Description
Ms. Pao-yu Ho Taiwanese Officer
Administration
Ms. May Hsiu-mei Liu
Taiwanese Manager Sales
Mr. Wan-fa Tsai Taiwanese General
Manager
*Key Personnel*
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Mr. Wan-fa Tsai
Responsibilities : Handles the daily operation of the firm
including all financials and legal matters.
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing of raw materials for dyestuffs.
2. Purchasing a wide range of chemicals.
3. Manufacturing of a wide range of dyes and other related
products.
4. Selling to both domestic and international markets of
products for paper and leather dyestuffs.
Products also include the following :
- Extra deep Chrofix CD dyes
- High-light fastness Chrofix CL dyes
- High-chlorine fastness Chrofix Black KRF 200%
- The most brilliant direct dyes
Products : Acid dyes
Acid
dyestuffs
Aniline
Aromatic monoamines
Chemical raw materials
Brand: Chroma
*Payment Terms*
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Sales
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Local : Cash
30-60
days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : Cash
30-90
days credit
Imports : Letter of Credit (L/C)
Open
account / Documents against Acceptance (D/A) terms with settlement using
Telegraphic
Transfer (T/T)
*Production Capacity*
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Item
: Diversified dyes
Maximum capacity : 3,000 tons/year
Current capacity :
1,500 tons/year
*Competitors*
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The following locally based companies supply similar range
of products :
- T & T INDUSTRIES CORP
- ORIENTAL GIANT DYES & CHEMICAL INDUSTRIAL CORP
- SOLAR FINE CHEMICAL CO LTD
- DYEXCEL CHEMICAL INDUSTRIAL CORP
- FINE YONG CHEMICAL CO LTD
- WILLIE CO LTD
- S M S TECHNOLOGY CO LTD
*Local Distribution Network*
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30% of the annual turnover is attributed to local sales
*Export Markets*
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70% of the annual turnover is attributed to export.
*International Trade Ranking*
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The firm has been ranked among
Details of rank are as follows :
Year
Rank
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1997
1909
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : CHROMA CHEMICAL CORP
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
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 there is no legal requirement
according to local corporate law for public disclosure of detailed financials.
Although summary financials were obtained for reference.
*BANK DETAILS*
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Bank Name : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address : 10Fl,
SWIFT Code : FCBKTWTP
Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : HNBKTWTP
*Int´l Trade Activity
(Currency:
================================
Year Imports Exports Total
2002 $6,203,307.85 $9,697,559.07 $15,900,866.92
2003 $5,439,181.08 $7,812,372.55 $13,251,553.63
2004 $2,650,000.00 $7,200,000.00 $9,850,000.00
2005 $2,300,000.00 $3,300,000.00 $5,600,000.00
2006 $1,200,000.00 $3,350,000.00 $4,550,000.00
*Financial Summary
(Currency:
===============================
Year Sales Assets Net Income
2006
$10,157,194.68
$6,197,097.94
$1,015,719.47
Over the past 16 years, SC has made a stable growth with
satisfactory profit. It is considered a credit line up to USD 500,000 appears
to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Manufacturing 1474 Sodium nitrate, potassium chloride or muriate of potash; and potassium sulphate
Manufacturing
2800 Chemicals and Allied
Products
Manufacturing
2899 Chemical preparations
Manufacturing
5169 Chemicals/Allied
Products, NEC
Trading
5169 Chemicals/Allied
Products, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting 2904900000 Sulfonated,
nitrated or nitrosated derivatives of hydrocarbons, whether or not
halogenated
not elsewhere specified or included
Exporting 2914700000 Halogenated,
sulfonated, nitrated or nitrosated derivatives of ketone-alcohols and
ketone-aldehydes
Exporting
2921210000 Ethylenediamine and its salts
Exporting
2933690010 Cyanuric chloride
Exporting 3204120000 Acid
dyes, whether or not premetallized, and preparations based thereon;
mordant
dyes & preparations based thereon
Exporting
3204140000 Direct dyes & preparations based
thereon
Exporting
3204160000 Reactive dyes & preparations based
thereon
Exporting
3204191900 Solvent dyes and preparations based
thereon
Exporting
3824903900 Mixtures of two or more inorganic
compounds
Exporting
7205290000 Powders, iron or nonalloy steel
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter
Iron powder
Exporter
Cyanuric chloride
Exporter
Dryers
Importer
Reactive dyes
Importer
Chemical raw materials
Importer
Aniline
Importer
Aromatic monoamines
Manufacturer
Acid dyes
Manufacturer
Sodium nitrite
Manufacturer
Direct dyestuffs
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
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/normal. |
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%)