MIRA INFORM
REPORT
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Report Date : |
19.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
POLYCHEM GLOBAL CORP |
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Registered Office : |
11fl-11, 6, Lane 180, |
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Country : |
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Date of Incorporation : |
03.08.2005 |
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Com. Reg. No.: |
27755310 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Local purchasing of a wide range of chemicals such as phenol,
acetonitrile and tetrahydrofuran. |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No complaints |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
Company name & address
POLYCHEM
GLOBAL CORP
11FL-11, 6, LANE 180,
SECTION 6 NEIHU DIST,
TEL: 886- 2-27900700 FAX:
886- 2-27916660
EXECUTIVE SUMMARY
INCORPORATION DATE :
AUGUST 3, 2005
CHIEF EXECUTIVE :
MR. WEN-CHIN HO (CHAIRMAN)
STAFF STRENGTH :
11
CAPITAL :
US$ 31,182
BUSINESS LINE :
EXPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2009)
EQUITIES :
N/A (AS OF DEC. 31, 2009)
PAYMENT :
FAIR
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 31.09430 = USD1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
Name in Local Language : 瀚翔工業股份有限公司
Trading Name / DBA: POLYCHEM CORP
*CAPITAL (Currency: NTD)
=====================
Authorized Capital: 1,000,000
*Office & Facilities*
================
Size : 80
sq. meters (Approx.)
Location :
Commercial
Property status : Rented
*Corporate & Organization Structure*
===========================
A small sized company operated and managed by the owner.
www.polychem.com.tw
The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
E-mail: carl@polychem.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 4
Total number of shares: 100,000
Shareholders Country Number
Amount %
Mr. Wen-chin Ho
Mr. Johnson Jui-tsan Chiang
Mr. Tao-mei Liu
Mr. Ting-yao Kuo
Management: Ms. Tao-mei Liu,
Supervisor
Mr. Ting-yao Kuo, Manager
Mr. Jacky Hung, Manager
Name Nationality
Job Description Dept. / Division
Ms. Tao-mei Liu Taiwanese
Supervisor Administration
Mr. Ting-yao Kuo Taiwanese
Manager Human Resources
Mr. Jacky Hung Taiwanese
Manager Sales
Mr. Johnson Jui-tsan Chiang Taiwanese
General Manager -
Mr. Wen-chin Ho Taiwanese
Managing Director -
*Company Director*
===============
1
Name : Ms. Tao-mei Liu
Sex : F
2
Name : Mr. Ting-yao Kuo
Sex : M
3
Name : Mr. Jacky Hung
Sex : M
Email : jacky@polychem.com.tw
4
Name : Mr. Johnson Jui-tsan Chiang
Sex : M
Email : johnson@polychem.com.tw
Country of Residence :
Other Details : Work experience : More than 2 years experience.
5
Name : Mr. Wen-chin Ho
Sex : M
Other Details : Responsibilities : Handles the daily operation of the firm
including all financials, sales and legal matters.
*Main Products & Services*
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Specializes in the following areas of work:
1. Local purchasing of a wide range of chemicals such as phenol,
acetonitrile and tetrahydrofuran.
2. Sales and distribution of purchased products to overseas market.
Products: Acetonitrile
Bis-phenol A
Dioctylphthatlate
Gamma
butyrolactone
Iso-butanol
*Payment Terms*
==============
Sales
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Export : Letter of Credit (At-sight)
Telegraphic Transfer
(T/T) - Received at time of transaction
Documents against
Acceptance (D/A)
Purchases
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Local : Cash on delivery (COD)
Credit - Secured
with Post-dated checks (30-90 days)
*Competitors*
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The following locally based companies supply similar range of products :
- MINSON ENTERPRISES CO LTD
- GENIUS-FIVE ENTERPRISE CO LTD
- ACERCHEM HIGHTECH CO LTD
- AGI CORPORATION
- AMIA CO LTD
*DOMESTIC SUPPLIERS*
====================
CHI MEI CORP
CHUNG SHING TEXTILE CO LTD
FORMOSA CHEMICALS & FIBER CORP
FORMOSA PLASTICS CORP
SHINKONG SYNTHETIC FIBERS CORP
TAIWAN POLYPROPYLENE CO LTD
TCC CHEMICAL CORP
*Domestic Suppliers*
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100% of the products are purchased locally.
*Local Distribution Network*
=======================
There is no record of local sales since the prime focus of the firm's
activity is concentrated on exports only.
*Export Markets*
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100% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
================================
Business Entity Name : POLYCHEM GLOBAL CORP - DONGWAN BRANCH
Address : Rm 615
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Chemicals
Business Entity Name : POLYCHEM GLOBAL CORP -
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Chemicals
Business Entity Name : POLYCHEM GLOBAL CORP -
Address : Rm 212 Dong Huan Bldg
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Chemicals
Business Entity Name : POLYCHEM GLOBAL CORP -
Address : Rm23B-A 337 Zhong Lian Wei Bldg Jia He Rd Xiamen China
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Chemicals
Business Entity Name : POLYCHEM TRADING (
Address : Rm 12C Xing Lian Bldg - Block 2,
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Chemicals
PAYMENT
RATING : 4 OBTAINED SCORES : 45
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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*
===============
Bank Name: FUBON COMMERCIAL BANK
Branch: Ta-an Dist,
Branch Address: 2Fl B1 Fubon Banking Center 169 Jen Ai Rd Section 4
Ta-an Dist Taipei City 106 (Head Office)
SWIFT Code: This bank does not have a SWIFT Code
*Financial Summary (Currency:
==============================
Year Sales Assets Net
Income
2008 $167,701.86 $24,844.72 $6,211.18
2009 $276,655.27 $24,867.89
$9,916.07
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2006 n/a $20,000.00 $20,000.00
2008 n/a $167,701.86 $167,701.86
SC is considered small-sized in
its line with a development history of 5 years. Taking into consideration of
SC’s general performance, a credit line up to USD 1,000 appears to be within
SC’s capacities.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting 2800 Chemicals
and Allied Products
Exporting 2899
Chemical preparations
Exporting 5169
Chemicals/Allied Prdts,
NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2707600000 Phenols
Exporting 2707602000 Other
phenols
Exporting 2905140050 Other
butanols (exc isobutyl alcohol)
Exporting 2907 Phenols;
phenol-alcohols
Exporting 2908 Phenol
or phenol-alcohol deriv, halog, sulf etc
Exporting 2917 Polycarboxylic
acids & anhyd etc, halog, sulf etc
Exporting 2917140000 Maleic
anhydride
Exporting 2917320000 Dioctyl
orthophthalates
Exporting 2917350000 Phthalic
anhydride
Exporting 2932
Heterocyclic compounds,
oxygen hetero-atom(s) only
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Dioctylphthatlate
Exporter Phenol
Exporter Iso-butanol
Exporter Bis-phenol
A
Exporter Gamma
butyrolactone
Exporter Tetrahydrophthalic
anhydride
Exporter Acetonitrile
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region
Middle-East Exporting
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.18 |
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1 |
Rs.73.04 |
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Euro |
1 |
Rs.61.43 |
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 |
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.