MIRA
INFORM REPORT
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Report Date : |
16.10.2007 |
IDENTIFICATION DETAILS
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Name : |
ORIENTAL GIANT DYES & CHEMICAL INDUSTRIAL CORP |
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Registered Office : |
Rm 601, 6FL, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
June 4, 1977 |
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Com. Reg. No.: |
07604764 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Importing of raw dye materials for in-house use. Manufacturing of a comprehensive range of textile dyes. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Up To US$ 350,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
ORIENTAL GIANT DYES & CHEMICAL INDUSTRIAL CORP
RM 601, 6FL, 111 CHUNG SHAN NORTH RD SECTION 2
TEL : 886-2-25311936
FAX : 886-2-25513784
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 4, 1977
REGISTRATION NO. :
07604764
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MR. TU-HAO CHIU (CHAIRMAN)
STAFF STRENGTH :
76
CAPITAL :
US$ 4,526,252
BUSINESS LINE :
MANUFACTURER
TURNOVER :
US$ 8,131,801.69 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.7419 = 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 –
*Company History*
===============
4 July, 1977 - Obtained
official approval to establish headquarters on
of seven employees and the necessary plant installed.
Trial production runs were made.
1978 - Began
initial production of azoic dyestuffs, direct dyes and acid dyes.
1979 - Company
headquarters was moved to Cheng-The Rd Taipei while an R & D unit was set
up at
the
factory site.
- Mr.
Tatsu Arino joined the company as technical consultant.
-
Production was resumed after installing new modern plant.
1987 - Further
plant had been installed and dividend transfer had increased capital.
May 1987 - Moved head
office to current location.
-
Organization was expanded to establish an Export department.
- Set-up
a laboratory at
May 1992 - Established a
new laboratory complex at
-
Expanded the services and established new application technology and R & D
facilities.
- Entire company was linked by
a computer network.
*Licenses & Permits*
================
License number : 9962569600
Date issued : 15 June,
1978
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Capital Details*
=============
Initial registered capital
: TWD 23,000,000
Registered capital increase : TWD
150,000,000, fully paid
*Office & Facilities*
================
Size :
196 sq. meters (Approx.)
Location :
Property status : Rented
Type of building :
Commercial building
Previous addresses : -
-
Cheng-The Rd
*Corporate & Organization Structure*
============================
A medium-sized company operated and managed by an experienced team of
professionals.
*Factories, Size & Locations*
=======================
Size :
1,433 sq. meters (Approx.)
Location : Taoyuan Hsien
Type of building : Industrial
building
Property status : Owned by
ORIENTAL GIANT DYES & CHEMICAL INDUSTRIAL CORP.
*Long & Short Term Investment*
=========================
Type of investment : Facilities
upgrading
Year of investment : 1991
Investment amount : TWD 12
million
Details :
Purchased new waste-water treatment facilities which utilizes a new form of
chemical
precipitation with activated carbon
mud.
*Industry Ranking*
================
The firm has been ranked among
*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.ogd.com.tw It is unable to be landed at present for the
technical reason.
Email : michael.hu@ogd.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Shareholders' Name No. of Shares
--------------------------- ------------------
Mrs. Fu-mei Tsai Chui 111,865
Mrs. A-chiao Chiu Yu 83,116
Mrs. Li-hsueh Shih Chiu 47,290
Mr. Hung-chang Liao 43,737
Mr. Li-chun Wang 42,001
Mr. Tu-hao Chiu 35,425
Mr. Chiang-pin Chiu 32,163
Mr. Kuo-jung Lee 31,242
Mr. Ching-tao Yang 29,960
Mr. Yao-tsung Chi 17,470
Mr. Teng-sung Chiu 16,020
Mr. Chih-tsung Lin 15,000
Mr. Wei-feng Lee 13,330
Mr. Shih-kun Chen 100
*COMPANY MANAGEMENT*
=========================
Name Nationality
Job Description Dept. / Division
Ms. Shu-chen Tang Taiwanese
Assistant Sales
Mr. Chin-yen Hu Taiwanese
Manager Sales
Mr. Wu-hsiung Chiu Taiwanese
General Manager -
Mr. Teng-sung Chiu Taiwanese
Vice General Manager -
*Key Personnel*
=============
Mr. Tu-hao Chiu
Founder : Co-
founder
Resident status :
Work experience : More than 20 years
Responsibilities : Handles the
daily operation of the firm including all financial and legal matters.
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Importing of raw dye materials for in-house use.
2. Manufacturing of a comprehensive range of textile dyes.
3. Selling to both domestic and international markets as well as to
local third parties.
*Detailed Product Specifications*
==========================
(1)
Product : Direct dyes
Applications : Used on Cotton and
Viscose Fiber
(2)
Product :
High-temperature and fast S-Type Dyes
Applications : Used on
Polyester/Cellulose one bath dyeing processes.
(3)
Product : Acid Dyes
Type : A-Type/N-Type
Applications : Used for Nylon
Taffeta, Nylon Taslon, Trilober, Tactel, Antron, Supplex, Lycra, Microfiber
Wool, Silk.
(4)
Product : Disperse Dyes
Applications : Used on Polyester
and Acetate Fibers
(5)
Product : Vat Dyes
Applications : Used on cotton
where fastness is required
Products : A-methyldopa
Acid dyes
Acrylic polymer
Amine
Aniline
*Brand*
=======
Brand OGD
*Payment Terms*
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Sales
------
Local : 30-60 days credit
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:
- A & Z CHEMICAL INDUSTRIAL CORP
- CHROMA CHEMICAL CORP
- SOLAR FINE CHEMICAL CO LTD
- TAIWAN MODERN DYESTUFFS & PIGMENTS CO LTD
- WILL GOOD CHEMICAL CORP
*Associations*
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Member of :
- International ETAD (Ecological and Toxicological Association of Dyes
and Organic Pigments
Manufacturers) since May 1997.
*Quality Certification*
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Type of certification : ISO 9002
Issuing authority : RWTUV
Date of certification : February
1999
*Local Distribution Network*
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50% of the annual turnover is attributed to local sales to factories,
manufacturers and distributors.
*Domestic Raw Materials Suppliers*
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- SOLAR FINE CHEMICAL CO LTD
*Export Markets*
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50% of the annual turnover is attributed to export.
*International Trade Ranking*
=======================
The firm has been ranked among
Details of rank are as follows:
Year Rank
----- ------
1997 1871
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 70
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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.
*Bank Details*
============
Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist,
Branch Address :
SWIFT Code : CCBCTWTP
Bank Name : CHINATRUST COMMERCIAL BANK LTD
Branch : Hsin-i Dist,
Branch Address : 14Fl
SWIFT Code : CTCBTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : ICBCTWTP
As a private limited company with a paid-up capital of less than USD 6 million,
there is no legal requirement according to local corporate law for public
disclosure of detailed financials.
Although financial summaries were obtained for reference.
*Financial History*
===============
1992 - Sold a total of 2,400
tons of chemicals worth TWD 520 million.
*Financial Summary (Currency:
================================
Year Sales Assets Net Income
2006 US$ 8,131,801.69 US$
4,927,448.61 US$ 562,273.28
*Int´l Trade Activity (Currency:
================================
Year Imports Exports Total
1994 US$ 4,600,000.00 US$ 9,600,000.00 US$ 14,200,000.00
1995 US$ 5,900,000.00 US$ 9,400,000.00 US$ 15,300,000.00
1996 US$ 5,100,000.00 US$ 9,800,000.00 US$ 14,900,000.00
1997 US$ 5,700,000.00 US$ 9,500,000.00 US$ 15,200,000.00
1998 US$ 5,400,000.00 US$ 6,900,000.00 US$ 12,300,000.00
2001 US$ 2,000,000.00 US$ 3,500,000.00 US$ 5,500,000.00
2002 US$ 1,500,000.00 US$ 4,500,000.00 US$ 6,000,000.00
2003 US$ 2,500,000.00 US$ 3,500,000.00 US$ 6,000,000.00
2004 US$ 2,020,000.00 US$ 2,510,000.00 US$ 4,530,000.00
2005 US$ 2,530,000.00 US$ 2,890,000.00 US$ 5,420,000.00
2006 US$ 3,050,000.00 US$ 3,370,000.00 US$ 6,420,000.00
SC is considered small-sized in its line with a 30 years history. It is considered a credit line up to US$
350,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2816 Inorganic
pigments
Importing 5169 Chemicals/Allied
Prdts, NEC
Manufacturing 2800 Chemicals
and Allied Products
Manufacturing 2816 Inorganic
pigments
Manufacturing 2899 Chemical
preparations
Manufacturing 5169 Chemicals/Allied
Prdts, NEC
Trading 2800 Chemicals
and Allied Products
Trading 2899 Chemical
preparations
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
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 3204170000 Pigments
& preparations based thereon
Exporting 3906902000 Plastic
acrylic polymers in primary forms
Importing 2908 Phenol
or phenol-alcohol deriv, halog, sulf etc
Importing 2908200000 Derivatives
of phenols or phenol-alchls containing only sulfo groups, their salts
and
esters
Importing 2921 Amine-function
compounds
Importing 2921420000 Aniline
derivatives and their salts
Importing 2921440000 Diphenylamine
and its derivatives; salts thereof
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Aniline
Importer Diphenylamine
Importer Polyamine
Importer A-methyldopa
Importer Amine
Manufacturer Reactive dyes
Manufacturer Dyes
Manufacturer Tanning
chemicals
Manufacturer Direct dyes
Manufacturer Leather dyes
INTERNATIONAL TRADE : ACTIVITY & MARKETS
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Exporting to
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Exporting to
Exporting to
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Exporting to
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Exporting to
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Importing from
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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. |
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%)