MIRA
INFORM REPORT
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Report Date : |
1st
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
TCC CHEMICAL CORP |
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Registered Office : |
Chang Pin Industrial Park 11, Chang Pin East Hsienhsi Hsiang
Changhwa Hsien 507, Taiwan |
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Country : |
Taiwan |
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Date of Incorporation : |
11.04.1991 |
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Com. Reg. No.: |
23988339 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Specializing
in three main areas of work: 1.
Production of polycarbonate resin, sheets and other related products
incorporating some of the raw materials imported. 2.
Imports of raw materials for polycarbonate and other related chemical
materials. 3.
Exports of its finished 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 : |
USD150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
TCC CHEMICAL CORP
CHANG PIN INDUSTRIAL PARK 11, CHANG PIN EAST HSIENHSI HSIANG
CHANGHWA HSIEN 507, TAIWAN
TEL :886-4-7586150
FAX :886-4-7586209
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 11, 1991
REGISTRATION NO. :
23988339
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. CHEN-YUNG KU (CHAIRMAN)
STAFF STRENGTH :
104
CAPITAL :
US$ 91,883,614
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
USD 150,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.02940 = US$1 AS OF 2007-2-1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –Taiwan New Dollars
*Company
History*
================
1992 - Company stock sold to public.
2002 - Terminated its stock sales in
public.
*Company
Registration*
===================
License
number : 23988339
Date
issued : 11 April, 1991
Issuing
authority : Ministry of Economic Affairs (MOEA)
*Capital
Details*
=============
Authorized
capital : NTD 3,000,000,000.00
Paid-up
capital : NTD 2,200,000,000.00
*Corporate
& Organization Structure*
=============================
A large
sized company mainly operated and managed by an experienced team of
professionals.
*Office
& Facilities*
===============
Building
size : 1,798 sq. meter
Location :
Chang Pin Industrial Park, Changhwa Hsien
Property
status : Owned by TCC CHEMICAL CORP
Type of
building : Industrial building
Comments :
Serves as office and factory 1.
*Factories,
Size & Locations*
=======================
Type of
building : Industrial building
Building
size : 1,798.78 sq meters (Approx)
Location : Chang Pin Industrial Park, Changhwa Hsien
*Industry
Ranking*
================
Generally
regarded as one of the Top 1000 Companies in manufacturing industry of Taiwan
*Accountants*
============
DIWAN
ERNST & YOUNG CORPORATE FINANCE INC
*Reputation*
===========
Reference
checking for the purpose of establishing the firm's reputation within the
respective industry failed to reveal any negative information.
Web
site: www.tccc.com.tw The design is professional and the content
is well organized. At present it is both in Chinese and English version.
Email : tcccorp@ms1.hinet.net
LITIGATION 1 Record
Found
Litigation
( 1 ) Not
Adverse
Position
: Plaintiff
Other
Parties Involved : Position Country
Party's Name
Defendant Hong Kong ACEWELL (HOLDINGS) CO LTD
Case
Issue : A petition to the Court claiming an overdue payment amounting to US$
315,597.17 (filed under case no. A3627/2003).
Date
Commenced : 30 September, 2003
Status :
Pending
*Major Shareholders*
=================
Shareholders' Name No. of Shares
-------------------------- --------------------
Mr.
Chen-yung Ku (TAIWAN CEMENT CORP)
220,000,000
Mr.
Fu-lung Chen (TAIWAN CEMENT CORP) 220,000,000
Mr.
Chi-jung Chao (TAIWAN CEMENT CORP)
220,000,000
Mr. Kuo-yu Tsai (TAIWAN CEMENT CORP) 220,000,000
Name Nationality
Job Description
Mr.
Cheng-hsiung Chiang Taiwanese President
Mr.
Chi-hsiung Chen Taiwanese
General Manager
Mr. Yu
Hsu Taiwanese
Manager
*Key
Personnel*
=============
Mr.
Chen-yung Ku
Date of
birth : 28 November, 1954
Age : 52 years
Work
experience : More than 20 years
Responsibilities :
Handles the daily operation of the firm including all financials and legal
matters.
Resident
status :
Taiwan
*Main Products & Services*
======================
Specializing
in three main areas of work:
1.
Production of polycarbonate resin, sheets and other related products
incorporating some of the raw materials imported.
2.
Imports of raw materials for polycarbonate and other related chemical
materials.
3.
Exports of its finished products.
Products
: Buatanediol
Butyrolactone
GBL
Patterned
PS or PC sheet
Polycarbonate
*Payment
Terms*
==============
Sales
--------
Local :
Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
--------------
Local :
Cash
30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
===========
The
following locally based companies supply similar range of products:
-
EVERMORE CHEMICAL INDUSTRY CO LTD
- DAIREN
CHEMICAL CORP
*Production
Capacity*
==================
Current Capacity
Item (MT per
year)
------- ----------------------
1,4
buatanediol
30,000
Tetrahydrofuran
(THF) 15,000
R-butyrolactone 4,500
DuraMax
PC Sheet 3,600
*Local
Distribution Network*
=======================
60% of
the annual turnover is attributed to local sales.
*Domestic
Customers*
==================
Major
local customers include:
- CHIJA
ENTERPRISE CO LTD
- TIN
ENTERPRISE CO LTD
-
HWANG-CUAN SHEET CO LTD
- ITEM
PLASTIC CORP
- JYI
SHYANG INDUSTRIAL CO LTD
-
TILERON ENTERPRISE CO LTD
*Export
Markets*
=============
40% of
the annual turnover is attributed to export
*International
Trade Ranking*
========================
The firm
has been ranked among Taiwan's Top Importers/Exporters based on the standard
measured by the
Board of
Foreign Trade (BOFT)
Details
of rank are as follows :
Year Rank
------ ---------
1997 2602
*OVERSEAS
AGENTS AND DISTRIBUTORS*
=====================================
Agent : ACEWELL (HOLDINGS)
CO LTD
Country
of Origin : Hong Kong
Product
Description : Polycarbonate sheets
Brand : Duramax
Year : 1999
*LOCAL
BRANCHES & MANAGEMENT*
==================================
Branch : TCC CHEMICAL CORP -
TAIPEI CITY
Branch
Address : 9Fl, 113 Chung Shan
North Rd Section 2 Chungshan Dist, Taipei City, 104
Branch
Tel : [+886]
2-25635539
Branch
Fax : [+886] 2-25635177
*Strategic
Partners & Alliances*
=========================
Group/Alliance
name :
TCC GROUP
Founder : Ku's
family
Flagship
company : TAIWAN CEMENT CORP
Country : Taiwan
Management
center : Taipei City, Taiwan
Group
members : - TAIWAN CEMENT CORP
-
TAIWAN TRANSPORT & STORAGE CORP
-
KUAN-HO REFRACTORIES INDUSTRY CORP
-
TAIWAN CEMENT ENGINEERING CORP
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KUAN-HO CONSTRUCTION & DEVELOPMENT CORP
- TA-HO MARITIME CORP
-
PROSPERITY DIELECTRIECS CO LTD
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TAIWAN PROSPERITY CHEMICAL CORP
- TCC
INFORMATION SYSTEMS CORP
- TCC
INT'L LTD
-
HO-PING INDUSTRIAL PORT CORP
-
HO-PING POWER CO LTD
- HONG
KONG CEMENT MFG CORP
- ONYX
TA-HO ENVIRONMENTAL SERVICES CO LTD
PAYMENT RATING :3 OBTAINED SCORES :
64
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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
privately owned company there is no legal requirement according to local
corporate law for public disclosure of detailed financials.
*BANK
DETAILS*
===============
Bank
Name : CHINA TRUST
COMMERCIAL BANK
Branch : Hsin-i Dist,Taipei
City
Branch
Address : 14Fl China Trust
Bldg 3 Sung Shou Rd Hsin-i Dist Taipei City 110 (Head Office)
SWIFT
Code : CTCBTWTP
Bank
Name : FAR EASTERN INT'L
BANK
Branch : Ta-an Dist,Taipei
City
Branch
Address : 27Fl Taipei Metro
Bldg 201-209 Tun Hua South Rd Section 2 Ta-an
Dist Taipei City 106 (Head Office)
SWIFT
Code : FEINTWTP
Bank
Name : MEGA INT'L
COMMERCIAL BANK CO LTD
Branch : Chungshan Dist,Taipei
City
Branch
Address : 100 Chi Lin Rd
Chungshan Dist Taipei City 104 (Head Office)
SWIFT
Code : ICBCTWTP
*Financial
Summary (Currency: U.S. $'s)
===============================
Year Sales Assets
Net Income
2003 $35,601,585.93 $136,302,104.96 -$21,079,959.63
2004 $50,345,864.66 $130,526,315.79 -$11,939,849.62
*Int´l
Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2001 $1,562,710.88 $20,214,398.64 $21,777,109.52
2002 $3,535,372.98 $25,130,867.98 $28,666,240.96
2003 $4,122,778.00 $23,891,390.97 $28,014,168.97
2004 $6,774,185.98 $32,430,160.99 $39,204,346.97
2005 $2,424,995.99 $43,868,410.02 $46,293,406.01
*Financial
Ratios*
===============
Year Net Worth Return on
Return on Return on Debt to
(NTD100M) Sales (%) Net Worth (%)
Asset (%) Asset (%)
------ --------------- --------------- -------------------
---------------- -------------
2001 20.87 - - - 63.77
2002 21.67 -45.36 -25.70 -10.53 59.02
SC is
considered medium-sized in its line with fairly steady operating trend. It is
considered a credit line up to USD150,000 appears to be within SC’s capacities.
ATTACHED: TRADE REFERENCES
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Manufacturing 2800 Chemicals and Allied Products
Manufacturing 2821 Plastics materials and resins
Manufacturing 2899 Chemical preparations
Trading 2800
Chemicals and Allied
Products
Trading 2821
Plastics materials and
resins
Trading 2899
Chemical preparations
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service Description
Exporting 3920610000
Plates, sheets, film, foil &
strip, noncelluar, not reinforced, laminated,
combined,
of polycarbonates
Importing 3824903100
Mixtures of bismuth
Manufacturing 2932110000
Tetrahydrofuran
Manufacturing 2932295010
Butyrolactone
Manufacturing 3800 Miscellaneous chemical products
Manufacturing 3823905050
Chemical products and preparations
of the chemical or allied industries
Manufacturing 3907400000
Polycarbonates
Trading 2905390000
Acyclic dihydric alcohols not
elsewhere specified or included
Trading 2919001000
Aromatic plasticizers of phosphoric
esters and their salts and derivatives
Trading 2932110000
Tetrahydrofuran
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturing Polycarbonate
resin
Manufacturing Polycarbonate
sheets
Manufacturing R-butyrolactone
Manufacturing THF
Manufacturing Tetrahydrofuran
Manufacturing Plasticizers
Manufacturing PC
sheet
Trading Lactones
Trading Tetrahydrofuran
Trading Reaction
initiators
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting
to Argentina
Exporting
to Asia
Exporting
to Australia
Exporting
to Belgium
Exporting
to Brazil
Exporting
to China
Exporting
to Colombia
Exporting
to Costa Rica
Exporting
to Ecuador
Exporting
to Europe
Exporting
to Germany
Exporting
to Hong Kong
Exporting
to India
Exporting
to Iran
Exporting
to Israel
Exporting
to Italy
Exporting
to Japan
Exporting
to Malaysia
Exporting
to Mexico
Exporting
to Middle East
Exporting
to Netherlands
Exporting
to Nigeria
Exporting
to North America
Exporting
to Portugal
Exporting
to South Africa
Exporting
to South America
Exporting
to South Korea
Exporting
to Spain
Exporting
to Sri Lanka
Exporting
to Switzerland
Exporting
to Syria
Exporting
to Thailand
Exporting
to UAE
Exporting
to United Kingdom
Importing
from Asia
Importing
from Belgium
Importing
from Europe
Importing
from Germany
Importing
from Japan
Importing
from North America
Importing
from Singapore
Importing
from Thailand
Importing
from USA
Importing
from United Kingdom
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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