MIRA
INFORM REPORT
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Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
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Name : |
TAIWAN FIELDRICH CORP |
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Registered Office : |
Flat A, 11FL, |
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Country : |
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Date of Incorporation : |
06.08.1985 |
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Com. Reg. No.: |
01125909 |
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Legal Form : |
Private |
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Line of Business : |
The chemical materials are provided by their affiliate company. |
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 500,000 |
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Status : |
Satisfactory |
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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 |
Name and address
TAIWAN
FIELDRICH CORP
FLAT A, 11FL,
SECTION 4 TA-AN
TEL: 886-2-27415577 FAX: 886-2-27413450
EXECUTIVE SUMMARY
INCORPORATION DATE : AUGUST 6, 1985
REGISTRATION NO. :
01125909
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. SU-YUEH YANG (CHAIRMAN)
STAFF STRENGTH :
10
CAPITAL :
US$ 1,777,778
BUSINESS LINE : TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2008)
EQUITIES : N/A (AS OF DEC. 31,
2008)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 34.00319 = 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 –
*Office & Facilities*
===============
Size : 254 sq. meter (Approx)
Location :
Center Business District (CBD)
Property status : Rented
Type of Building : Retail
outlet in a semi-residential building
Other fax number : 2-27717331
Previous tel number : 2-27056000
*Factories, Size & Locations*
======================
The company is a trading house focused on exports and maintains no
manufacturing facilities.
However, the related party, TASCO CHEMICAL CORP, is in fact a
manufacturer.
*Corporate & Organization Structure*
============================
A small specialized company operated and managed by the owner and family
members.
SC is not known to host website of its own at present.
E-mail: tascosm@ms9.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 4
Total number of shares: 3,625,385
Shareholders Country Number Amount %
Ms. Su-yueh Yang
Mr. Shang-pin Wu
Ms. Pei-chuan Wu
Ms. Pei-jing Wu
Management: Mr. Howard Lai,
Representative
Ms. Pei-jing Wu, Supervisor
Name Nationality
Job Description Dept. / Division
Mr. Howard Lai Taiwanese Representative Sales
Ms.
*COMPANY DIRECTORS*
=====================
1
Name : Ms. Su-yueh Yang
Nationality : Taiwanese
Country of Residence :
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. The chemical materials are provided by their affiliate company.
2. Export and local sales of its products to customers.
Note:
The affiliate firm, TASCO CHEMICAL CORP, is a manufacturer of chemical
materials, which subsequently partially sold to local market and international
customers by TAIWAN FIELDRICH CORP.
Products: Anhydride
Butanone
Cyclanes
Cyclic
hydrocarbons
Diacetone
alcohol
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchase
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Local : 30 - 90 days credit
*Competitors*
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The following locally based companies supply similar range of products:
- ALFACHEM INT'L CORP
- BOLY CORP
- CHEERS INDUSTRIAL CORP
- FULLTECH CHEMICAL CO LTD
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*Domestic Customers*
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Although the domestic market represents a minor percentage of sales,
most of domestic sales are achieved through direct sales to local customers.
*Local Distribution Network*
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Approximately 40% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 60% of the annual turnover is attributed to export.
*International Trade Ranking*
======================
The firm has been ranked among
Details of rank are as follows :
Year Rank
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2005 1354
2006 1728
2007 1493
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : TAIHO INDUSTRIAL INVESTMENT CO LTD
Address : Flat A, 11Fl,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : TASCO CHEMICAL CORP
Address : 25
Country :
Relationship : Affiliate
Legal Form : Public Company
Company Type : Trader
Industry : Chemicals
PAYMENT RATING : 3 OBTAINED SCORES : 71
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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 summary financials were obtained for reference.
*BANK DETAILS*
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Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist,
Branch Address :
SWIFT Code : CCBCTWTP
Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : HNBKTWTP
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2008 $32,919,254.66 $1,645,962.73 $3,944,099.38
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
2006 n/a $21,442,426.00
$21,442,426.00
2007 n/a $26,604,272.00
$26,604,272.00
2008 n/a $27,583,490.00
$27,583,490.00
Note: SC has not lodged the latest annual returns in the local registry,
hence no up-to-date detailed financial information could be provided
SC is considered small-sized in its line with a development history of
26 years. Taking into consideration of SC’s general performance, a credit line up
to USD 500,000 appears to be within SC’s capacities.
Attached: trade references
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
Trading 2800 Chemicals
and Allied Products
Trading 2899 Chemical
preparations,
Trading 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2902190000 Cyclanes,
cyclenes and cycloterpenes (excluding cyclohexane)
Exporting 2914120000 Butanone
Exporting 2914401000 4-hydroxy-4-methylpentan-2-one
(diacetone alcohol)
Trading 2902 Cyclic
hydrocarbons
Trading 2914 Ketones
& quinones & halogenatd, sulfonatd der etc
Trading 2916195000 Other
anhydrides, halides, peroxides, peroxyacids of unsaturated acyclic
monocarboxylic acids
Trading 2917 Polycarboxylic
acids & anhyd etc, halog, sulf etc
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Polycarboxylic
Acid
Trader Anhydride
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region
Pacific Exporting
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.59 |
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1 |
Rs.72.31 |
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Euro |
1 |
Rs.60.73 |
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.