MIRA
INFORM REPORT
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Report Date : |
13.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABLE ADVANCED CHEMICALS CO LTD |
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Registered Office : |
3FL, 572 Minsheng North Rd Section 1 Kueishan Hsiang Taoyuan Hsien 332, |
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Country : |
Taiwan |
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Date of Incorporation : |
19.07.1997 |
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Com. Reg. No.: |
16135834 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and Development of Technologies related to Dye Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 30,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
name & address
ABLE
ADVANCED CHEMICALS CO LTD
3FL, 572 MINSHENG NORTH RD SECTION 1
KUEISHAN HSIANG TAOYUAN HSIEN 332, TAIWAN
TEL: 886-3-3529566 FAX: 886-3-3528587
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 19, 1997
REGISTRATION NO. :
16135834
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. PATRICK WEN-CHIEH SU (CHAIRMAN)
STAFF STRENGTH :
23
CAPITAL :
US$ 1,180,124
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 30,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.21063 = 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
Registered Legal Address: 1Fl, 1 Lane 109 Kang Hua St Neihu Dist Taipei City
114
*Licenses & Permits*
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License number : 9968749800
Date issued : 3 March,
2004
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office and Facilities*
=================
Size : 405
sq meters (Approx)
Location :
Taoyuan Hsien
Property status : Owned by
ABLE ADVANCED CHEMICALS CO LTD
Type of building : Industrial
building
Comment : Serves as
office and factory
*Corporate & Organization Structure*
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A small-medium sized company operated and managed by an experienced team
of professionals.
www.aacc.com.tw
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: able.advance@msa.hinet.net
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: 1,900,000
Shareholders Country Number Amount %
Mr. Patrick Wen-chieh Su Taiwan 1,140,000.00 n/a 60.00
Mr Yang-jen Chen Taiwan 380,000.00 n/a 20.00
Ms. Hsiu-lan Su Taiwan 190,000.00 n/a 10.00
Ms. Yueh-hsia Su Taiwan 190,000.00 n/a 10.00
Management: Ms. Tracy Kuan,
Manager
Ms. Vivian Yang, Manager
Mr. Patrick Wen-chieh Su, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Tracy Kuan Taiwanese
Manager Marketing
Ms. Vivian Yang Taiwanese
Manager Sales
Mr. Patrick Wen-chieh Su Taiwanese
General Manager -
*COMPANY DIRECTORS*
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1
Name : Mr. Patrick Wen-chieh Su
Nationality : Taiwanese
*Main Products & Services*
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Specializes in the following areas of work:
1. Research and Development of technologies related to dye products.
2. Manufacturing of various types of dye which include:
- ABLAN - Dyes for Leather
- ABLON - Dyes for Textile
- ABOSET - Dyes for
Wool-Nylon
- ACERLAN - Metal Complex
Dyes
- EcoLan - Dyes for
Leather - high fastness economic dyes
- ABAPEL - Dyes for Fur
3. Selling to both domestic and international markets.
Products: Acid dyes
Leather dyes
Textile
chemicals
*Brand*
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ABAPEL
ABLAN
ABLON
ABOSET
ACERLAN
EcoLan
*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
30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Production Capacity*
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Item :
Chemical
Current capacity : 1,000mt/year
*Competitors*
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The following locally based companies supply similar range of products :
- CHROMA CHEMICAL CORP
- DYEXCEL CHEMICAL INDUSTRIAL CORP
- ORIENTAL GIANT DYES & CHEMICAL INDUSTRIAL CORP
- SOLAR FINE CHEMICAL CO LTD
- WILL GOOD CHEMICAL CORP
- COLOR-RING CO LTD
*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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70% of the annual turnover is attributed to local sales.
*Export Markets*
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30% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : ABLE
ADVANCED CHEMICALS CO LTD
Address : E 28Fl Liyi House
ZhongShan Square 977 HongQiao Rd Changning Dist Shanghai 200051 China
Country :
China
Relationship : Subsidiary
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Chemicals
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 SMALL
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 : FUHWA COMMERCIAL BANK LTD
Branch :
Chungcheng Dist, Taipei City
Branch Address :
Taipei
SWIFT Code :
APBKTWTH
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $4,073,627.04 $633,675.32 $289,680.14
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2003 $2,500,000.00 $800,000.00 $3,300,000.00
2004 $3,000,000.00 $600,000.00 $3,600,000.00
2005 $3,000,000.00 $800,000.00 $3,800,000.00
2006 $2,960,000.00 $1,270,000.00 $4,230,000.00
2007 $2,900,000.00 $780,000.00 $3,680,000.00
SC is considered small-sized in its line with a development history of
11 years. The above credit amount appears to be beyond SC’s capacities, while a
credit line up to USD 30,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 2800 Chemicals
and Allied Products
Manufacturing 2899 Chemical
preparations,
Trading 2800 Chemicals
and Allied Products
Trading 2899 Chemical
preparations,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3204145000 Direct dyes and preparations based thereon,
Importing 3204121000 Acid dyes, whether or not premetalized,and preparations based
thereon, acid black 31, etc
Importing 3204191900 Solvent dyes and preparations based thereon
Importing 3402110000 Soap & other organic surf-act products,not for toilet use,
in bars,cakes, molded pieces, and paper, etc impregnated or coated with soap
ordetergent
Importing 3809910000 Finishing agents and dye carriers containing 5 percent or more
by weight of 1 or more aromatic or modified aromatic substances
Manufacturing 3204130000 Basic
dyes and preparations based thereon
Manufacturing 3204145000 Direct
dyes and preparations based thereon,
Manufacturing 3800 Miscellaneous
chemical products
Trading 3204130000 Basic
dyes and preparations based thereon
Trading 3800 Miscellaneous
chemical products
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Textile
chemicals
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,Importing
Europe Exporting
China Exporting,Importing
Germany Exporting
Hong Kong Exporting
India Importing
Japan Exporting
Netherlands Exporting
South Korea Exporting
Thailand Exporting,Importing
United Kingdom Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
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%)