MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHANG CHUN
PETROCHEMICAL CO LTD |
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Registered Office : |
7FL State Bldg 301 Sung Chiang Rd
Chungshan Dist Taipei City 104 |
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Country : |
Taiwan |
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Date of Incorporation : |
10.07.1964 |
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Com. Reg. No.: |
11384806 |
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Legal Form : |
Public Company |
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Line of Business : |
Manufacturing of Petrochemical Products. Selling Manufactured Products to both Domestic and International
Markets. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 10,000,000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
CHANG CHUN
PETROCHEMICAL CO LTD
7FL STATE BLDG 301 SUNG CHIANG RD CHUNGSHAN
DIST
TAIPEI CITY 104, TAIWAN
TEL: 886-2-25038131 FAX: 886-2-25033378
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 10, 1964
REGISTRATION NO. :
11384806
LEGAL FORM :
PUBLIC COMPANY
CHIEF EXECUTIVE :
MR. SHU-HUNG LIN (CHAIRMAN)
STAFF STRENGTH :
1,345
CAPITAL :
US$ 156,518,475
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 35,427,471,000 (AS OF 2007)
EQUITIES :
NTD 27,874,879,000 (AS OF 2007)
PAYMENT :
EXCELLENT
RECOMM. CREDIT RANGE : UP TO
USD 10,000,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STRONG
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : WELL-KNOWN
EXCHANGE RATE :
NTD 32.89350 = 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
*Company History*
===============
1964 -
Established due to the increased market demand for formaldehyde. The company
was incorporated
specifically for the manufacture of methanol from natural gas with
factory located at Miao-Li.
1 November, 1981 - Became listed on the OTC (Over-the-counter Exchange)
of Taiwan Stock Exchange.
1983 -
Began to produce N-Iso butyl acetate.
1987 -
Began to design and build the copper foil plant.
1988 -
Completed and commenced Copper Plant.
1990 -
Established TRIPLEX CHEMICAL CORP, a joint venture with YEE FONG CHEMICAL &
INDUSTRIAL CO LTD, for the production of 12,000 MTY Epichlorohydrin
(ECH) under the
licenses of SHOWA DENKO KK, Japan.
1993 -
Began to build its Antioxidant Plant at Miao-Li.
-
Began to build Waste Water Treatment Plant in Miao-Li with United Chemical
Laboratory's
UASB process.
1994 -
Completed and commenced production of Antioxidant & High Purity Hydrogen
Peroxide for
Semiconductor Plant.
1999 -
Established TOK TAIWAN CO LTD, a joint venture with TOKYO OHKA KOGYO CO LTD of
Japan for production of electronic grade thinner and stripper.
2001 - Started the production of Nicotinic
Acid (Niacin) and Basic Chromium Sulfate (BCS) at Miao-Li.
-
Completed Tetra-methyl Ammonium Hydroxide (TMAH) at Miao-Li Factory.
2002 -
Completed the third set of Co-generation Plant at Miao-Li Factory.
- Formaldehyde, Para Formaldehyde and
Phenolic Formaldehyde Resin at Mai-Liao Factory of Chang Chun Plastics were
completed.
-
Glass Fiber at Ta-Fa Factory of Chang Chun Plastics was completed.
2003 - Established CHANG
CHUN CHEMICAL (ZHANGZHOU) CO LTD at Zhangzhou, Fujian China.
-
Dairen Chemical's AAL Plant increased capacity (70% AAL) to 100,000 MTY at
Kaohsiung
factory.
- Dairen
Chemical's VAM Plant at Mai-Liao factory increased to 300,000 MT in 2003
and become the world's largest VAM
Plant with single reactor.
-
Established DAIREN CHEMICAL (JIANGSU) CO LTD at Yizheng, Jiangsu, China.
2004 - Expansion of the D
line of PBT compound with capacity of 15,000MT/Y at Kaohsiung was completed.
- CCP acquired 80% stake from SUMITOMO CHEMICAL to form CHANG CHUN
MERISOL RSA(PTY) LTD, which produces Ortho Cresol Novolac in Sasolberg,
RSA
2005 -
Construction of the 2nd line of Glass Epoxy Copper Clad Laminate was completed.
The
total capacity is
4,800,000M2/Year.
- The Epoxy Resin Plant with capacity of 6,000MT/Y immigrated from
SUMITOMO
CHEMICAL CO LTD, Japan was completed.
- 123,000MT/Year of Acetone and
200,000MT/Year of Phenol and 280,000MT/Y of
Cumene were put on stream at Ta-Fa Factory.
- 135,000MT/Y of Bis-Phonol A was put on stream at Ta-Fa Factory.
- Liquid Epoxy Resin with capacity of 30,000MT/Y at Ta-Fa factory was
put on stream.
- Kaohsiung Factory of CHANG CHUN PLASTICS CO LTD passed the
verification of
ISO-14001(2004 edition).
- The Co-generation plant with capacity of 330MT/hr steam and 49,900KW
power of
the company at Ta-Fa was completed.
- Methylated Melamine Formaldehyde Resin and EL grade Hydrogen Peroxide
started-up
at CHANG CHUN CHEMICAL (JIANGSU) CO LTD
- Started construction of
Polytetramehtylene-Ehter-Glycol and 1,4-Butanediol at Mai Liao
Factory of DAIREN CHEMICAL CO LTD.
- The third Plant of Vinyl Acetate Monomer at Mai Liao Factory of DAIREN
CHEMICAL
CO LTD started-up with capacity of 350,000MT/Y.
2006 -
Ortho Cresol Novalac Resin started-up with capacity of 3,600MT/Y of CHANG CHUN
PLASTICS CO LTD at Mai Liao
factory.
- Low Brominated Resin with capacity of 16,800MT/Y at Ta-Fa Factory was
put on
stream.
- Polyvinyl Butyral Interlayer Film started-up with capacity of
2,000MT/Y of the
company at Miao Li factory.
- Low Brominated Resin started-up at CHANG CHUN CHEMICAL (JIANGSU) CO
LTD
- The third Plant of Allyl
Alcohol at Mai Liao Factory of DAIREN
CHEMICAL CO LTD
started-up with capacity of 200,000MT/Y.
2007 -
Ethylene-Vinyl Alcohol Copolymer started-up with capacity of 20,000MT/Y of
the company at Mai Liao factory.
- Polyvinyl Alcohol Acetic Ester and PBT Resin started-up at CHANG CHUN
CHEMICAL
(JIANGSU) CO LTD
- Established CHANG LONG CHEMICAL(SHENZHEN) CO LTD, Suzhou Branch and
CHANG LONG CHEMICAL (SHENZHEN) CO LTD, Qingdao Branch.
*Capital Details*
=============
Initial paid-up capital
: NTD 1,413,000.00
Capital increase as follows:
Year Increase (NTD)
------
----------------------
1987
1,913,000.00
1988
2,621,000.00
1992 4,310,000.00
- 4,741,448,000.00
2001 4,788,862,720.00
- 4,836,751,350.00
- 5,039,894,910.00
*Licenses & Permits*
================
(1)
License number : 9963152503
Date issued : 1 January, 1969
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 9963152401
Date issued : 1
January, 1969
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(3)
License number : 9966540200
Date issued : 4 May,
1992
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
================
Size : 781 sq. meters
Location :
Taipei City
Property status : Rented
Type of building :
Semi-commercial building
Comment : Premises is
shared with affiliate, CHANDAL INDUSTRIAL CO LTD and subsidiary, CHANG REN CCP
INDUSTRIAL CO LTD
Other Contact Details
-----------------------------
Tel no. : 2-25001800
Fax no. : 2-25018018
*Factories, Size & Locations*
======================
Dafa Factory
------------------
Type of building : Industrial
Location :
Kaohsiung Hsien
Major production : Phenol
Note : This
factory still under construction, it will be for the production of Phenol and
offer to CHANG CHUN GROUP and CHI MEI OPTOELECTRONICS CORP used as raw materials for TFT-LCD
2 Miao-Li Factories
--------------------------
Type of building : Industrial
Location : Miao-li
City
Miao-Li and Da Fa Factory
-------------------------------------
Total land size : 450,000 sq
meters
Property status : Owned by
CHANG CHUN PETROCHEMICAL CO LTD
Comments : Employing
more than 800 employees in these 3 factories.
*Corporate Organization & Structure*
===========================
A large-sized company operated and managed by an experienced team of
professionals.
Acts as the core entity of CHANG CHUN GROUP.
The company is listed on the OTC (Over-the-counter Exchange) but is
considered a "public company" belonging to the category of
"Shang gui" (Emerging Public Companies).
*Warehousing Facilities*
====================
Maintains a warehouse for local sales convenience.
*Industry Ranking*
================
(1)
Ranked 71st among Taiwan's largest manufacturing corporations in 1992.
(2)
Generally regarded as one of the Top 1000 Companies in Manufacturing
Industry of Taiwan, details of rank are as follows:
Year Rank
------- --------
1999 110
2000 103
2001 101
2002 104
2003 105
2004 109
2005 69
2006 52
2007 42
*Sales Ranking*
=============
Has been ranked among Taiwan's Top 500 Companies in terms of sales.
Year Rank Sales (in USD Million)
------- ---------- -----------------------------
1986 55 105.18
1987 66 126.63
1988 64 154.11
2000 100
2001 96
2002 98
*Accountants*
============
KPMG TAIWAN
Web
site: www.ccp.com.tw The design is professional and the content
is well organized. At present it is both in Chinese, Japanese and English
versions.
E-mail: kpcharng@smtp.ccp.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholders : n/a
Total number of shares : n/a
Shareholders' Name No. of Shares
--------------------------- -------------------
Mr. Hsin-yi Cheng 78,585,914
CHANG CHUN PLASTICS CO LTD
76,089,632
Mr. Shih-kuang Su 73,022,680
Ms. Chung-yu Liao 67,776,631
Mr. Cheng Cheng 46,753,775
Mr. Hsien-tung Lin 27,423,665
Mrs. Li-ching Lin Weng 24,332,671
Mrs. Pi-e Liao Lee 24,068,128
Mr. Shu-hung Lin 22,617,400
Mr. Lung-hsin Liao 22,203,936
JM & LS CORP 17,750,603
Mr. Hsien-chin Chen 16,856,182
Mr. Hsien-chang Chen 247,716
Management: Mr. Chin-chun Tsai,
Manager
Mr. Cheng Cheng, Assist. Manager
Mr. Hsien-tung Lin, Assist. Manager
Name Nationality
Job Description Dept.
/ Division
Mr. Chin-chun Tsai Taiwanese
Manager Factory
Mr. Cheng Cheng Taiwanese
Assist. Manager -
Mr. Hsien-tung Lin Taiwanese
Assist. Manager -
Mr. Jung-tsung Chen Taiwanese Assist. Manager -
Mr. Lung-hsin Liao Taiwanese
Assist. Manager -
Mr. Wan-chih Cheng Taiwanese Assist. Manager -
Mr. Shu-hung Lin Taiwanese
General Manager -
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Hsin-yi Cheng
Nationality : Taiwanese
2
Name : Mr. Shu-hung Lin
Date of Birth : 1 Aug, 1928
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Manufacturing wide range of petrochemical products.
2. Selling manufactured products to both domestic and international
markets.
Petrochemical products are supplied to the following industries:
- Chemical
- Textile
- Coating
- Resin
- Semi-conductor
- Pharmaceutical
- Electrical
- Paper
- Plastic
Note: Although the company was originally established for the
manufacture of methanol from natural gas, it has since ceased production of
this raw chemical due to high costs associated with the use of natural gas.
Products: AC generators
Acetic acid
Acetic
anhydride
Acrylic emulsion
resins
Acrylic resins
*Payment Terms*
==============
Sales
-------
Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Purchases
--------------
Local : Cash
30-90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
*Associations*
============
Member of the following associations:
- Taiwan Petrochemical Industry Association
- Taiwan Association of Machinery Industry
*Competitors*
===========
The following locally based companies supply similar range of products:
- HANDY CHEMICAL CORP
- MERCK ELECTRONIC CHEMICALS LTD
- PROSPERCHEM INC
- TAIWAN CHLORINE INDUSTRIES LTD
- TAIWAN VINYL CHLORIDE MONOMER CORP
- TAIWAN PROSPERITY CHEMICAL CORP
- METALTECH INDUSTRIAL CO LTD
- ECLAT TEXTILE CO LTD
- HAO JEY CO LTD
- LONN SHIANN CO LTD
*Production Capacity*
==================
(1)
Item :
Copper-Foil
Maximum capacity : 48,850 tones
Current capacity : 42,930
tones
Year :
2007
(2)
Item :
Polyvinyl Alcohol
Maximum capacity : 95,821 tones
Current capacity : 88,906
tones
Year :
2007
(3)
Item :
Antioxidants
Maximum capacity : 24,071 tones
Current capacity : 17,449
tones
Year : 2007
(4)
Item :
Propylene Glycol Monomethyl Acetate
Maximum capacity : 34,081 tones
Current capacity : 29,705
tones
Year :
2007
(5)
Item :
Hydrogen Peroxide
Maximum capacity : 38,996 tones
Current capacity : 34,351
tones
Year :
2007
*Detailed Product Specification*
=========================
Currently has four types of PBT available. Each type having four grades.
PBT-100 series has several general purpose grades Its main properties include:
- Ease of processing
- Modability
- High gloss for molded articles
Finished products with just a 1/32-inch thickness conform to UL 94 V-O
flammability regulations.
Other series include fiber-reinforced grades and both fiber reinforced
and flame retardant.
*Quality Certification*
=================
Obtained the following certifications:
(1)
Type of certification: ISO9002
Issuing authority : Bureau
of Commercial Inspection & Quarantine Ministry of Economic Affairs
Year of certification: 1994
Details :
Received the certification for Miaoli II Plant which were audited by Bureau of
Commercial Inspection & Quarantine Ministry of Economic Affairs.
(2)
Type of certification : ISO 9001:2000/CNS 12681
Issuing authority : Bureau
of Standards, Metrology and Inspection (BSMI)
Date of certification : 22
October, 2002
Approved number : 4XEY003-09
Other details :
Certification for Miao Li Plant
(3)
Type of certification : ISO 9000
Other details :
Received the certification for manufacturing the following chemical products:
- Acrylic emulsion/resin, anti-oxidant, basic chromium furfate, butyl acetate,
copper foil
- developer, epoxidized soybean oil, formalin, glacial acetic acid,
hexamine
- hydrogen peroxide, melamine, niacin, PE drum, polyvinyl acetate
emulsion
- polyvinyl alcohol,
polyvinyl butyral, propylene glycol monomethyl ether
- propylene glycol monomethyl ether acetate, pyridine, stripper,
trimethylol propane
(4)
Type of certification : ISO 14000
Other details :
Received the certification for manufacturing the following chemical products:
- Acrylate resin, antioxidants (hindered phenols and phosphites), butyl
acetate, copper foil, epoxidized soya bean oil, formalin, glacial acetic acid,
hexamine, hydrogen peroxide, PE drums, polyvinyl acetate emulsion, polyvinyl alcohol, polyvinyl
butyraldehyde, sodium formate, trimethylol
propane
(5)
Type of certification : ISO 14001:1996/CNS 14001
Issuing authority : Bureau
of Standards, Metrology and Inspection (BSMI)
Date of certification : 21
August, 1998
Approved number : 4XEE005-04
Other details :
Certification for Miao Li Plant and Miao Li II Plant
*Product/Brand/Logo Licensing*
==========================
(1)
Licensor : E
I DU PONT DE DEMOURS CO USA
Details of license : For the manufacture of PVA and hydrogen peroxide
(2)
Licensor : ADEKA
ARGUS CHEMICAL CO LTD
Details of license : For the production of epoxidized soybean oil
(3)
Licensor : MITSUI
TOATSU CHEMICAL CO INC - JAPAN
Year : 1982
Details of license : For the production of acrylic resin
*Machinery & Equipment*
=====================
Production is controlled by a computerized system.
*Imports*
========
The majority of its raw chemicals unless restricted are sourced both
directly and through Taiwan agents from Japan, USA and Europe.
The European market is fairly limited due to the 50% import tariff.
*Domestic Agents & Distributors*
=========================
PBT is sold through CHANG CHUN Group's marketing arm TAIWAN ENGINEERING
PLASTIC CO LTD.
*Local Distribution Network*
======================
An estimated 66% of the annual turnover is attributed to local sales
through island-wide distributors.
*Export Markets*
==============
An estimated 34% of the annual turnover is attributed to export through
agents and customers worldwide.
Major markets include USA and Far East, respectively.
Products are exported to the following countries:
Countries/Regions % of
Export
-------------------------
---------------
Asia 74
USA 10
Europe 9
Others 7
Note: PVA is the only chemical exported to Europe by the CHANG CHUN
GROUP.
*Overseas Suppliers*
=================
- DOW CHEMICAL PACIFIC LTD
*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 122
2001 71
2002 116
2003 124
2004 108
2005 98
2006 69
2007 60
*Overseas Agents & Distributors*
===========================
Maintains an agency agreement with HARCROSS, an Australian chemical
manufacturer and wholesaler based in Sydney.
*LOCAL BRANCHES & MANAGEMENT*
=================================
Branch : CHANG CHUN PETROCHEMICAL CO LTD (MIAOLI FACTORY) - MIAOLI CITY
Branch Address : 245 Wen San Li Miaoli City, Miaoli Hsien 360
Branch Tel : [+886] 3-7321681
Branch Fax : [+886] 3-7333216
Branch : CHANG CHUN PETROCHEMICAL CO LTD (DAFA FACTORY) - KAOHSIUNG
HSIEN
Branch Address : Ta Fa Industrial Park 11 Chieh-Yeh Rd Taliao Hsiang,
Kaohsiung Hsien 831
Branch Tel : [+886] 7-7873740
Branch : CHANG CHUN PETROCHEMICAL CO LTD (MAILIAO) - MAILIAO HSIANG
Branch Address : 26 Formosa Industrial Park Mailiao Hsiang, Yunlin Hsien
638
Branch Tel : [+886] 5-6812790
*(Subsidiaries, Joint-ventures & Affiliates)
==================================
Company Name : ADEKA CHEMICAL (CHANGSHU) CO LTD
Address : Yan JIang Economic Development Zone Chang Chun Rd Changshu
Jiangsu China
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : CCPS PTE LTD
Country : Singapore
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : CHANDAL INDUSTRIAL CO LTD
Address : 7Fl State Bldg 301 Sung Chiang Rd Chungshan Dist Taipei City
104 Taiwan
Country : Taiwan
Relationship : Invested Entity - Minor Equity
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : CHANG CHUN CHEMICAL (ZHANG ZHOU) CO LTD
Address : Long Hai Jiao Mei Long Economic Development Zone Zhangzhou
Fujian China
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : CHANG CHUN DPN CHEMICAL INDUSTRY CO LTPT
Address : Cikarang Industrial Estate Blk G18-23 Jalan Jababeka XI
Cikarang Bekasi 17530 West Java Indonesia
Country : Indonesia
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : CHANG CHUN MERISOL RSA (PTY) CO LTD
Address : Sasol Chemical Industries Bldg 2 Sturdee Ave Rosebank
Johannesburg 2196 South Africa
Country : South Africa
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Plastics & Products
Company Name : CHANG CHUN PLASTIC (CHANGSHU) CO LTD
Address : Yan JIang Economic Development Zone Chang Chun Rd Changshu
Jiangsu China
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Plastics & Products
Company Name : CHANG CHUN PLASTICS CO LTD
Address : 7Fl State Bldg 301 Sung Chiang Rd Chungshan Dist Taipei City
104 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Public Company
Company Type : Manufacturer
Industry : Plastics & Products
Company Name : CHANG REN CCP INDUSTRIAL CO LTD
Address : 7Fl State Bldg 301 Sung Chiang Rd Chungshan Dist Taipei City
104 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : CHANGCHUN CHEMICAL (JIANGSU) CO LTD
Address : 4Fl Harbor Bldg 88 Tonggang Rd Changshu 215513 Jiangsu China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : DAIREN CHEMICAL (M) SDN BHD
Address : PLO 18 Tanjung Langsat Industrial Estate Mukim Sungai Tiram
Pasir Gudang 81700 Johor Malaysia
Country : Malaysia
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : DAIREN CHEMICAL CORP
Address : 9Fl State Bldg 301 Sung Chiang Rd Chungshan Dist Taipei City
104 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Public Company
Company Type : Manufacturer
Industry : Chemicals
Company Name : DAIREN TRADING (M) SDN BHD
Address : 8Fl Menara Ansar 65 Jalan Trus Johor Bahru 80000 Johor
Malaysia
Country : Malaysia
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : GUANGDONG SHENXING CHEMICAL CO LTD
Address : Nansha Development Zone Guangxing Rd West Industrial Park
Panyu Hsien Guangzhou 511458 Guangdong China
Country : China
Relationship : Invested Entity - Minor Equity
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : ROGERS CHANG CHUN TECHNOLOGY CO LTD
Address : 7Fl State Bldg 301 Sung Chiang Rd Chungshan Dist Taipei City
104 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Plastics & Products
Company Name : TOK TAIWAN CO LTD
Address : 10Fl, 675 Jing-Guo Rd Section 1 Hsinchu City 300 Taiwan
Country : Taiwan
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : TOKYO OHKAKOGYO TAIWAN CORP
Address : 10Fl, 675 Chin Kuo Rd Hsinchu City 300 Taiwan
Country : Taiwan
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : TRIPLEX CHEMICAL CORP
Address : 51-13 Hai Hu, 13 Lin, Hai Hu Luchu Hsiang 338 Taoyuan Hsien
Taiwan
Country : Taiwan
Relationship : Joint-Venture
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Chemicals
Company Name : TSUKONG CO LTD
Address : 8Fl-4 State Bldg 301-303 Sung Chiang Rd Chungshan Dist Taipei
City 104 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : U-PICA RESIN (CHANGSHU) CO LTD
Address : Changshu Economic Development Zone - Riverside Industrial Park
Changchun Rd Jiangsu China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Plastics & Products
*Subsidiaries, Joint-ventures & Affiliates*
==============================
Maintains the following joint venture companies:
Joint Venture
------------------
(1)
TRIPLEX CHEMICAL CORP
This is a joint venture between the following companies:
- YEE FONG CHEMICAL & INDUSTRIAL CO LTD
- CHANG CHUN PETROCHEMICAL CO LTD
(2)
TOK TAIWAN CO LTD
This is a joint venture between the following companies:
- TOKYO OHKA KOGYO CO LTD
- CHANG CHUN PETROCHEMICAL CO LTD
(3)
CCPS PTE LTD - Singapore
This is a joint venture between the following companies:
- CHANG CHUN PETOCHEMICAL CO LTD
- CHANG CHUN PLASTICS CO LTD
(4)
DAIREN CHEMICAL CORP
This is a joint-venture among the following companies:
- CHANG CHUN PETROCHEMICAL CO LTD
- CHANG CHUN PLASTICS CO LTD
- NAN PAO RESINS CHEMICAL CO LTD
*Strategic Partners & Alliances*
=========================
Group name : CHANG CHUN
GROUP
Group members : TAI HONG CIRCUIT INDUSTRY CO
DAIREN CHEMICAL CORP
CHANG REN INDUSTRIAL CO LTD
Details : Founded
by Ming-kun Liao and his fellow classmates, Shu-hung Lin and Hsin-yi Cheng in 1949 with the establishment
of CHANG CHUN PLASTICS CO LTD. All
major decisions are made by these three men.
PAYMENT RATING : 1 OBTAINED SCORES :
85
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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 LARGE
amounts depending on individual judgement experience.
*BANK DETAILS*
===============
Bank Name : BANK OF AMERICA NA
Branch : Sungshan Dist,Taipei City
Branch Address : 2Fl Bank Tower 205 Tun Hua North Rd Sungshan Dist
Taipei City 105 (Head Office)
SWIFT Code : BOFATW2X
Bank Name : CITIBANK NA
Branch : Sungshan Dist,Taipei City
Branch Address : Walsin Financial Bldg 117-1 Min Sheng East Rd Section 3
Sungshan Dist Taipei City 105 (Head Office)
SWIFT Code : CITITWTX
Bank Name : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,Taipei City
Branch Address : 10Fl, 30 Chungking South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : FCBKTWTP
Balance Sheet
Currency : NTD
Denomination : In Thousand
2006 2007
-----------------
----------------
Current Assets 11,093,194 13,819,764
Funds & long-term investments 7,809,273 10,053,347
Property
9,718,510 11,148,889
Other Assets 738,377 482,583
Current Liabilities (Before) 5,569,869 6,360,361
(After)
6,674,543
-
Long-term Liabilities 23,736 -
Other Liabilities 1,137,190 1,415,404
Common stock 4,836,751 5,039,895
Capital Reserve 17,789
17,789
Retained Earnings (Before) 17,790,078 22,521,789
(After)
16,482,260
-
Total Assets
29,543,520 35,650,644
Total Liabilities (Before) 6,730,795 7,775,765
(After)
7,835,469
-
Total Shareholder's
Equity
(Before)
22,812,725 27,874,879
(After)
21,708,051
-
Income Statement
Currency : NTD
Denomination : In Thousand
2006 2007
-----------------
----------------
Operating revenue 28,973,980.00
35,427,471.00
Gross Profit 5,682,345.00 6,474,846.00
Operating Income 4,139,136.00 4,579,408.00
Non-operating income 1,607,304.00
2,883,855.00
Non-operating expense 545,230.00 409,597.00
Net Income 4,143,187.00 6,039,529.00
Earnings (losses) per share (After) 8.57 11.98
*Financial Ratios*
==============
2006 2007
----------------- ----------------
Ratio of liabilities to Assets % 22.78 21.81
Ratio of long-term capital to fixed Assets% 246.68
263.00
Current ratio%
199.16 217.28
Quick ratio%
123.41 151.58
Interest coverage 42.91 74.65
Turnover of receivable (times) 5.00 5.01
Average collection period of receivable 75.00 73.00
Turnover of inventories (times) 6.62 6.99
Turnover of expense (times) 16.00 17.77
Average days of sales 55.00 52.00
Turnover of fixed assets (times) 2.98 3.18
Turnover of total assets (times) 0.98 1.00
Return on total assets% 14.02 16.94
Operating Income 86.00 90.86
Net Income before tax 107.54 139.96
Profit margin% 14.30 17.05
*Financial Summary (Currency: U.S. $'s)
===============================
Year Sales Assets Net Income
2000 $364,075,521.00 $544,969,766.72 $45,600,870.92
2001 $317,900,841.56 $598,262,217.06 $37,698,549.04
2002 $372,781,690.14 $583,624,719.75 $35,704,340.33
2003 $435,492,906.57 $610,267,445.21 $42,490,599.77
2004 $592,455,007.52 $683,720,902.26 $67,171,218.05
2005 $669,069,162.72 $817,484,233.81 $81,848,941.55
2006 $875,876,058.04 $893,093,107.62 $125,247,490.93
2007 $1,069,024,471.94 $1,075,758,720.58
$182,242,878.70
*Int´l Trade Activity (Currency:
U.S. $'s)
===============================
Year Imports Exports Total
2001 $100,000,000.00 $100,000,000.00 $200,000,000.00
2002 $66,229,900.00 $145,453,241.99 $211,683,141.99
2003 $75,779,679.99 $162,450,866.00 $238,230,545.99
2004 $126,252,020.99 $222,963,412.00 $349,215,432.99
2005 $154,958,527.99 $243,753,729.98 $398,712,257.97
2006 $148,164,656.98 $443,168,077.39 $591,332,734.37
2007 $166,651,551.99 $591,732,045.87 $758,383,597.86
SC is well-known in its industry with strong financial conditions.
Credit dealing with SC in favorable terms can be considered.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2075 Soybean
oil and byproducts
Exporting 2076 Vegetable
oils and byproducts, except corn, cottonseed, and soybean
Exporting 2800 Chemicals
and Allied Products
Exporting 2899 Chemical
preparations
Exporting 3366 Copper
Foundries
Exporting 3534 Elevators
and moving stairways, and parts
Importing 1221 Bituminous
coal and lignite
Importing 2821 Plastics
materials and resins
Importing 2895 Carbon
black
Importing 3053 Gaskets,
packing, and sealing devices
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 1507100000 Soybean oil and its fractions, crude, whether or not degummed
Exporting 1518000000 Animal or vegetable fats & oils/their fractions, boiled,
oxidized, etc; inedible mixtures or preparations of animal or vegetable fats
and oils
Exporting 2847000000 Hydrogen peroxide, whether or not solidified with urea
Exporting 2905320000 Propylene glycol (propane-1,2-diol)
Exporting 2905410000 2-ethyl-2-(hydroxymethyl)propane-1,3-diol (trimethylolpropane)
Exporting 2915120000 Salts of formic acid
Exporting 2915130000 Esters of formic acid
Exporting 2915210000 Acetic acid
Exporting 2915330000 Normal butyl acetate
Exporting 2917310000 Dibutyl orthophthalates
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Hydrogen
peroxide
Exporter Trimethylopropane
Exporter Formic acid
salts
Exporter Acetic
acid
Exporter Heat
exchangers
Exporter Hydraulic fluid
power pumps
Exporter Copper
foil
Exporter Finishing
agents
Exporter Pyridine
Exporter Dibutyl
orthophthalates
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,
Importing
Europe Exporting
,Importing
Middle-East Exporting
,Importing
North America Exporting
Pacific Exporting,
Importing
South America Exporting,
Importing
Algeria Exporting
Argentina Exporting
Australia Exporting,
Importing
Bangladesh Exporting
Belgium Exporting,
Importing
Brazil Exporting
Cambodia Exporting
Canada Exporting,
Importing
Chile Exporting
China Exporting,
Importing
Colombia Exporting
Costa Rica Exporting
Dominican Republic Exporting
Ecuador Exporting
Egypt Exporting
Finland Exporting,
Importing
France Exporting,
Importing
Germany Exporting
,Importing
Greece Exporting
Guatemala Exporting
Haiti Exporting
Honduras Exporting
Hong Kong Exporting,
Importing
India Exporting,
Importing
Indonesia Exporting
Importing
Iran Exporting
Ireland Exporting
Importing
Israel Exporting
Italy Exporting,
Importing
Japan Exporting,
Importing
Jordan Exporting
Kenya Exporting
Kuwait Exporting
Lebanon Exporting
Luxembourg Importing
Macao Exporting
Malaysia Exporting,
Importing
Mauritius Exporting
Mexico Exporting
Morocco Exporting
Myanmar Exporting
Netherlands Exporting,
Importing
New Zealand Exporting
Nigeria Exporting
Norway Exporting
Oman Exporting
Pakistan Exporting
Peru Exporting
Philippines Exporting
,Importing
Poland Importing
Portugal Exporting
Qatar Importing
Russia Exporting,
Importing
Saudi Arabia Exporting,
Importing
Senegal Exporting
Singapore Exporting,
Importing
South Africa Exporting,
Importing
South Korea Exporting
Importing
Spain Exporting
Sri Lanka Exporting
Sweden Exporting,
Importing
Switzerland Exporting
,Importing
Syria Exporting
Thailand Exporting,
Importing
Tunisia Exporting
Turkey Exporting,
Importing
USA Exporting,
Importing
United Arab Emirates Exporting,
Importing
United Kingdom Exporting
Importing
Uruguay Exporting
Venezuela Exporting
Vietnam Exporting
Yemen (Sanna) Exporting
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
|
UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)