MIRA
INFORM REPORT
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Report Date : |
27.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
DYEXCEL CHEMICAL INDUSTRIAL CORP |
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Registered Office : |
Kuanyin Industrial Park 14 Ching Chien 5th Rd Kuanyin Hsiang Taoyuan Hsien 328 |
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Country : |
Taiwan |
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Date of Incorporation : |
27.09.1997 |
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Com. Reg. No.: |
16230703 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of chemicals for in-house production of dyes. Manufacturing of a comprehensive range of dyes for leather tanning
process, and other related industrial uses. Selling to both domestic and international markets |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
DYEXCEL CHEMICAL
INDUSTRIAL CORP
KUANYIN INDUSTRIAL PARK 14 CHING CHIEN 5TH RD
KUANYIN HSIANG TAOYUAN HSIEN 328, TAIWAN
TEL: 886-3-4836008 FAX: 886-3-4836018
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 27, 1997
REGISTRATION NO. :
16230703
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHI-SHENG CHEN (CHAIRMAN)
STAFF STRENGTH :
31
CAPITAL :
US$ 2,414,001
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.18639 = 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 –Taiwan New Dollars
Note: There is NO such company in Taiwan as SYCEL CHEMICAL CORP. In
this instance the name of the company was spelt incorrectly, it should NOT be
"SYCEL" but "DYEXCEL.
*Capital Details*
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Initial registered capital : NTD 60,000,000.00
Capital increase :
NTD 80,000,000.00
*Licenses & Permits*
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License number : 9962297300
Date issued : 4 October, 1994
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Size : 2,546 sq. meters (Approx.)
Location : Taoyuan Hsien
Property status : Owned by DYEXCEL CHEMICAL INDUSTRIAL
CORP
Type of building : Industrial building
Comment : Serves as office and factory.
Other Contact Details
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Fax no. : 3-4832540
E-mail : dyexcel.dci@msa.hinet.net
*Corporate & Organization Structure*
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A small-medium sized company operated and managed by the owner and an
experienced team of professionals.
*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.
SC is not known to host web site of its own at present.
E-mail: b873010@yahoo.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 4
Total number of shares: 7,376,000
Shareholders Country
Number %
-------------------------- ------------ --------------- ------
Mr. Chi-sheng Chen Taiwan 3,356,440.00
45.50
Mr. Tung-po Kao Taiwan 3,347,560.00 45.38
Mr. Tung-ming Lee Taiwan 560,000.00 7.59
Mr. Chin-cheng Wang Taiwan 112,000.00 1.53
Management: Mr. Chi-sheng Chen, General Manager
Name Nationality
Job Description
Mr. Chi-sheng Chen Taiwanese General Manager
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing of chemicals for in-house production of dyes.
2. Manufacturing of a comprehensive range of dyes for leather tanning
process, and other related industrial uses.
3. Selling to both domestic and international markets.
Products include:
- Dyefix Bifunctional
- Dyezol Vinyl sulfone
- Dyexcel H-EXL
- Novacion H-E MCT
- Dyeset
- Azocor
Products: Acid dyes
Amino hydroxy
naphthalenes
Amino-naphthols
Aminophenol
Aniline
*Payment Terms*
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Sales
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Local : Cash
30-90 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)
Open account /DA
terms with settlement using TelegraphicTransfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- COLOR-RING CO LTD
- HUIMING TECHNOLOGY CO LTD
- FULLCOLOR PIGMENT CO
- ORIENTAL GIANT DYES & CHEMICAL INDUSTRIAL CORP
- CHROMA CHEMICAL CORP
*Domestic Customers*
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Most of domestic sales are achieved through direct sales to local
manufacturers, as well as to local trading houses which also export.
*Local Distribution Network*
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Approximately 70% annual turnover is attributed to local sales.
*International Trade Activity*
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Note: At the time of preparing this report, the Ministry of Economic
Affairs has not yet released trade figures for 2007.
*Export Markets*
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Approximately 30% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : SHANGHAI
YI PIN CHEMICAL LTD
Address :
3318 Bei Qu Rd Hua Cao Town Min Hang China
Country :
China
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type : Service
Industry :
Professional Services
PAYMENT RATING : 3 OBTAINED SCORES :
58
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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 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.
*Bank Details*
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Bank Name : HUA
NAN COMMERCIAL BANK LTD
Branch :
Ta-an Dist, Taipei City
Branch Address : 370
Morrison Plaza 25 Jen Ai Rd Section 4 (PO Box 26) (as given)
SWIFT Code :
HNBKTWTP
(The given address belongs to Jen Ai Branch of HUANAN COMMERCIAL BANK,
which is used by DYEXCEL CHEMICAL INDUSTRIAL CORP.)
Bank Name :
TAIWAN BUSINESS BANK
Branch :
Tatung Dist, Taipei City
Branch Address :
International Department 3Fl, 30 Ta Cheng St
SWIFT Code :
MBBTTWTP
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2004 $5,293,233.08 $5,684,210.53 $271,278.20
2005 $6,656,000.00 $5,971,563.98 $341,232.23
2006 $6,784,256.35 $5,713,422.01 $383,917.78
Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2002 $2,000,000.00 $1,500,000.00 $3,500,000.00
2003 $1,500,000.00 $2,000,000.00 $3,500,000.00
2004 $2,370,000.00 $1,590,000.00 $3,960,000.00
2005 $2,560,000.00 $1,900,000.00 $4,460,000.00
2006 $2,900,000.00 $2,120,000.00 $5,020,000.00
Over the past 11 years, SC has made a stable growth with fairly good
profit
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 5169 Chemicals/Allied
Prdts, NEC
Manufacturing 2800 Chemicals
and Allied Products
Manufacturing 2899 Chemical
preparations,
Manufacturing 5169 Chemicals/Allied
Prdts, NEC
Trading 2816 Inorganic
pigments
Trading 2899 Chemical
preparations,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2907210000 Resorcinol and its salts
Importing 2914700000 Halogenated, sulfonated, nitrated or nitrosated derivatives of
ketone-alcohols and
ketone-aldehydes
Importing 2920900000 Esters of other inorganic acids (excluding esters of hydrogen
halides) not
elsewhere
specified or included and their salt and derivatives
Importing 2921420000 Aniline derivatives and their salts
Importing 2921590000 Aromatic polyamines not elsewhere specified or included and their
derivatives,
salts
thereof
Importing 2922210000 Aminohydroxynaphthalenesulfonic acids and their salts
Importing 2922290000 Amino-naphthols and other amino-phenols, their ethers and
esters, other than
those
contmore than one kind of oxygen function; salts thereof nesoi
Importing 2924290100 P-acetanisidide; p-acetoacetatoluidide;
4-amino-n-methyl-acetanilide; 2,5-
dimethoxyacetanilide;
and n-(7-hydroxy-1-naphtyl)-acetamide
Importing 2930901000 Other aromatic or!ano-sulfur compounds used as pesticides
Importing 2933690000 Compounds (excluding melamine) containing an unfused triazine
ring (whether
or
not hydrogenated) in the structure
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Aromatic sulfur
compounds
Importer Compounds
Importer Amino-naphthols
Manufacturer Chemical
products
Manufacturer Acid dyes
Trader Reactive
dyes
Trader Direct
dyes
Trader Acid dyes
Trader Dyes
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to China
Exporting to Europe
Exporting to Hong Kong
Exporting to India
Exporting to Indonesia
Exporting to Japan
Exporting to Netherlands
Exporting to South Korea
Exporting to Thailand
Exporting to Vietnam
Importing from Asia
Importing from Belgium
Importing from China
Importing from Germany
Importing from India
Importing from Japan
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%)