MIRA INFORM REPORT
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Report Date : |
22.08.2011 |
IDENTIFICATION DETAILS
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Name : |
GLOTECH TECHNICAL MATERIALS CORP. |
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Formerly Known As : |
A JOHNSON COMPOSITES INC. |
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Registered Office : |
No.102, Chun-Hsin Rd., Sec.4, Chu-Tung, Hsinchu |
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Country : |
Taiwan |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
97454219 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
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 : |
USD 50,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Taiwan |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Contact
Points
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Company Name: |
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Former Name: |
A Johnson Composites Inc. |
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Supplied Name: |
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Trading Address: |
No.102, Chun-Hsin Rd., Sec.4, Chu-Tung,
Hsinchu, Taiwan, R.O.C. |
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Supplied Address: |
102, Chung-Hsin Rd Sec 4 |
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Telephone Number: |
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Fax Number: |
Notes: Subject’s exact name and address are as above and the supplied name is
subject’s former name.
Credit
Summary
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Credit Rating: |
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Credit Opinion: |
Company
Identification Details
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Registered Name: |
Glotech Technical Materials Corp. |
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Registered Address: |
No.102, Chun-Hsin Rd.,
Sec.4, Chu-Tung, Hsinchu, Taiwan, R.O.C. |
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Date of Foundation: |
N/A |
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Registration Number: |
97454219 |
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Registry: |
Department of Commerce,
Ministry of Economic Affairs,
R.O.C. |
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Registered Capital: |
NTD 1,200,000,000 (USD 41,400,000) (As of 2011.08, 1 NTD =
0.0345 USD) |
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Paid-up Capital: |
NTD 835,727,680 (USD
28,832,605) |
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Legal Representatives: |
Huilin Liu |
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Legal Form: |
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Principal Activities: |
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Staff: |
About 600 employees (Group) |
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Listed at Stock
Exchange: |
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Date of Last
Annual Return: |
Notes: we did not find subject’s date of foundation
in its registered files, from other source we learned that it changed name as
the present in 2011.05
History
Subject was incorporated with registered
number 97454219 as Private Joint Stock
Company in Taiwan.
Change of Name
|
Former English Name |
A JOHNSON COMPOSITES INC. |
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Current English Name |
GLOTECH TECHNICAL MATERIALS CORP. |
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Former Chinese Name |
大強森複合材料股份有限公司 |
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Current Chinese Name |
德興科技材料股份有限公司 |
Shareholders
|
Name |
Subscription Shares |
|
Glotech Industrial Corp. |
54,911,124 |
The information above is that of subject’s major shareholders.
Subsidiaries &
Branches
Parent Company
|
Name |
Glotech
Industrial Corp. |
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Address: |
No. 718, Sec. 2,
Yanghu Rd, Yangmei City, Taoyuan County 32669, Taiwan R.O.C. |
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Telephone Number |
+886-3-4726448 |
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Fax Number |
+886-3-4726447 |
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Activities: |
Manufacture and
sales of glass fiber fabric |
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Staff: |
About 200
employees |
Other related companies
|
Name |
Glotech
Electronics (Suzhou) Corp. |
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Address: |
No. 136,
Hua-Shan Rd., Suzhou,P.R.China (Zip Code: 215011) |
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Telephone Number |
+86-512-6661-9489 |
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Fax Number |
+86-512-6661-9486 |
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Activities: |
Manufacture and
sales of glass fiber fabric |
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Staff: |
About 200
employees |
Personnel Information
Core
Management
|
1 |
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|
Name |
Huilin Liu |
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Position |
Board Chairman |
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2 |
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Name |
Youlin Kang |
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Position |
Director |
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3 |
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Name |
Zhicheng Chen |
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Position |
Director |
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4 |
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Name |
Yiping Shao |
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Position |
Director |
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5 |
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Name |
Zhangwei Zhong |
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Position |
Director |
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6 |
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Name |
Shuling Lin |
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Position |
Supervisor |
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7 |
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Name |
Jianlai Liu |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 200 employees About 600 employees (Group) |
Operation
Information
Offices
& Factories
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|
Headquarters |
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Add |
No.102, Chun-Hsin Rd., Sec.4, Chu-Tung, Hsinchu, Taiwan, R.O.C. |
l
Subject is a manufacturer of glass
fibre yarn.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
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C805070 |
Manufacture of Strengthening plastic products |
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C901020 |
Manufacture of glass and glass products |
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CB01010 |
Manufacture of mechanical equipment |
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CE01010 |
Manufacture of general instruments |
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F113010 |
Wholesales of machinery |
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F113030 |
Wholesales of ecise
instrument |
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F213040 |
Retails of ecise
instrument |
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F213080 |
Retails of Machinery and Equipment |
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F401010 |
International |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
Subject purchases both at home and abroad.
l
It is introduced that subject has some inventories
of specific items.
l
The subject is engaged in sales of glass fiber yarn
l
Subject’s products are both sold in domestic and
overseas market and it is introduced that subject exports to South Korea,
Europe, Japan and North America, etc
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
Domestic Purchase
|
Payment /Terms |
Proportion |
|
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Raw materials |
COD, Credit Sales, etc |
100% |
Foreign Purchase
|
Payment /Terms |
Proportion |
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Raw materials |
CBD, etc |
100% |
Sales
Domestic Markets
|
Payment /Terms |
Proportion |
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Glass fiber yarn |
CBD, etc |
100% |
Export
|
Payment /Terms |
Proportion |
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Glass fiber yarn |
T/T, L/C, etc |
100% |
Notes: Subject’s settlement for export is generally in USD
Financial
Information
Subject has no obligations to disclose its financial statements to the
third party according to the relevant policy in Taiwan and the only source from
which we can obtain the information is the subject itself.
Subject’s relevant staff Ms. Chiu declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
Bankers
Mortgage
|
Registered Number |
Receipt date |
Type |
Nature |
Mortgagor |
Mortgagee |
Status |
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10030353430 |
|
Chattel Mortgage |
Cancelled |
Subject |
Taishin International Bank Co., Ltd. |
Licensed |
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10030353440 |
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Chattel Mortgage |
Registered |
Subject |
Far Eastern International Bank Co., Ltd-Taiyuan Branch |
Licensed |
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10030357320 |
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Chattel Mortgage |
Cancelled |
Subject |
DBS Bank-Nanjing East Road Branch. |
Licensed |
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10030352210 |
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Chattel Mortgage |
Registered |
Subject |
Taiwan Cooperative Bank-Dongtaiyuan Branch |
Licensed |
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10030357570 |
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Chattel Mortgage |
Changed |
Subject |
Far Eastern International Bank Co., Ltd-Taiyuan Branch |
Licensed |
Public
Record
Lawsuit
Up to date of reporting,
no existing or latent litigation of the subject has been found.
Interview
Details
|
Name |
Ms. Chiu |
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.61 |
|
UK Pound |
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.