MIRA INFORM
REPORT
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Report Date : |
24.01.2011 |
IDENTIFICATION DETAILS
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Name : |
HUNG CHOU CHEMICAL INDUSTRY CO LTD |
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Registered Office : |
8fl Ta Cheng Bldg |
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Country : |
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Year of Establishment : |
1978 |
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Com. Reg. No.: |
Unknown |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Manufacturing chemical petroleum products, PET resin, polyester
fabrics and raw materials |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 2,000,000 |
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Status : |
Good |
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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
HUNG
CHOU CHEMICAL INDUSTRY CO LTD
8FL TA CHENG BLDG
TEL: 886-2-25526125 FAX: 886-2-25527251
EXECUTIVE SUMMARY
INCORPORATION DATE :
1978
REGISTRATION NO. :
UNKNOWN
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. LIN-FU CHEN (CEO)
STAFF STRENGTH :
521
CAPITAL :
US$ 81,517,677
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2009)
EQUITIES :
N/A (AS OF DEC. 31, 2009)
PAYMENT :
ABOVE AVERAGE
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 29.10500 = 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 –
*Company Registration*
===================
License Number : 07220710
Year Issued : 1978
Issuing Authority : Ministry of Economic Affairs (MOEA)
*Factory Contact Details*
===================
Address : 1 Kuang Hua Keng Feng Shu Tsun
Zip : 333
Suburb : Kueishan Hsiang
State : Taoyuan Hsien
Tel : [+886] 3-3294138
*Auditors*
=========
TAIWAN UNION & CO CPAS
*Registrar*
=========
HUNG CHOU CHEMICAL
*Industry Ranking*
================
Generally regarded as one of the Top 1000 Companies in manufacturing
industry of
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
================
Shareholders' Name %of
Shares
--------------------------
----------------
Chen Yu Ming
2.70
Chen Teh Rong
2.61
Chen Yuh Chin
2.57
Management: Mr. Te-cheng Chen,
Assist. Manager
Mr. Lin-Fu Chen, CEO
Mr. Te-feng Chen, Manager
Name Nationality
Job Description Dept. / Division
Mr. Te-cheng Chen Taiwanese
Assist. Manager Office
Mr. Lin-Fu Chen Taiwanese
CEO -
Mr. Te-feng Chen Taiwanese
Manager -
*Company Director*
===============
1
Name : Mr. Te-cheng Chen
Sex : M
2
Name : Mr. Lin-Fu Chen
Sex : M
3
Name : Mr. Te-feng Chen
Sex : M
*Main Products & Services*
=======================
Specializes in the following areas of work:
1. Manufacturing chemical petroleum products, PET resin, polyester
fabrics and raw materials.
2. Importing weaving machinery.
3. Exporting polyester filament yarns.
Product also includes:
- PET fiber
Products: Chemical petroleum products
Department store
management
PET resin
Polyester
fabrics
Pre-oriented yarns,
polyester
*Brand*
======
Hung Chou
*Competitors*
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The following locally based companies supply similar range of products:
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- TONG-HWA SYNTHETIC FIBER CO LTD
- CHUNG FU CHEN YEH ENTERPRISE CORP
- TAINAN SPINNING CO LTD
- KING TEXTILE CO LTD
*Domestic Customers*
==================
Customer's/Client's name : HONMYUE ENTERPRISE CO LTD
Product/Buying : Polyester Textured yarn
*International Trade Ranking*
=========================
The firm has been ranked among
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Business Entity Name : SUNFON CONSTRUCTION CO LTD
Address : 7Fl, 173 Cung An
Country :
Relationship : Affiliate
Legal Form : Public Company
Company Type : Trader
Industry : Construction & Construction Materials
PAYMENT RATING : 2 OBTAINED SCORES : 75
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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
FAIRLY LARGE amounts depending on individual judgement experience.
SC’s financial details are not available at present.
Although, financial summaries were obtained for reference.
*BANK DETAILS*
===============
Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
1992 $73,029,491.00 $81,431,527.00 $6,769,891.00
1993 $67,644,218.00 $99,919,309.00 -$1,324,327.00
1994 $85,249,018.00 $91,276,509.00 $6,853,673.00
1995 $104,551,964.00 $121,639,527.00 $13,156,873.00
1998 $64,000,000.00 $180,851,851.85 -$8,370,370.37
2001 $81,775,972.14 $122,518,862.45 -$12,652,350.55
2002 $103,305,547.57 $111,210,117.85 -$891,060.65
2004 $143,067,669.17 $131,097,744.36 -$992,481.20
SC is considered large-sized in its line with a development history of
33 years. Taking into consideration of SC’s general performance, a credit line
up to USD 2,000,000 appears to be within SC’s capacities.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2281 Yarn, spun, of
cotton, man-made fibers, and silk
Importing 3552 Textile
machines, , and parts and attachments,
Manufacturing 2221 Broad
woven fabrics, manmade fibers and silk
Manufacturing 2262 Finish
Man Fiber/Silk Fabric
Manufacturing 2821 Plastics
materials and resins
Service 8748 Business
Consulting Svcs, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 5403 Artificial
filament yarn (no sew thread), no retail
Importing 8446 Weaving
machines (looms)
Manufacturing 3926 Articles
of plastics (inc polymers & resins)
Manufacturing 5007100000 Woven
fabrics of silk or silk waste - noil silk
Manufacturing 5515110005 Fabric,
yarns different colors, not blue denim or jacquard, of polyester staple
fibers, mixed
mainly or solely with viscose rayon staple fibers
Manufacturing 5911 Textile
products etc. for specific tech uses
Service 9878 Business
development/consulting
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturer Raw
materials
Manufacturer PET
resin
Manufacturer Synthetic
fibre cloth
Manufacturer Chemical
petroleum products
Service Department
store management
Service Trade consultancy
Service Supermarket
operators
Service Property
valuations
Service Property
leasing
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.70 |
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|
1 |
Rs.72.78 |
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Euro |
1 |
Rs.61.65 |
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.