MIRA INFORM REPORT
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Report Date : |
10.03.2011 |
IDENTIFICATION DETAILS
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Name : |
METHYL CO LTD |
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Registered Office : |
7fl-2, |
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Country : |
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Date of Incorporation : |
23.03.1990 |
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Com. Reg. No.: |
23635912 |
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Legal Form : |
Private Company
With Limited Liability |
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Line of Business : |
Importing and
local purchasing of a wide range of chemical raw materials, such as
insecticides and resins |
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 100,000 |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
METHYL CO LTD
7FL-2,
TEL: 886-2-27695558 FAX:
886-2-27610627
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 23, 1990
REGISTRATION NO. :
23635912
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MR. CHING-TA CHUNG (CHAIRMAN)
STAFF STRENGTH :
50
CAPITAL :
US$ 1,559,089
BUSINESS LINE :
TRADER
TURNOVER : N/A (AS OF DEC.
31, 2009)
EQUITIES : N/A (AS OF
DEC. 31, 2009)
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD 32.05944 = 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 –
Name in Local Language : 亙祥實業有限公司
*Capital (Currency:
NTD)
===================
Authorized Capital:
50,000,000
*Office &
Facilities*
================
Size : 173 sq. meters
(Approx.)
Location : Central Business
District (CBD)
Property status : Rented
Type of
building : Commercial building
Other e-mail address
: methyl@methylcorp.com
*Warehousing
Facilities*
====================
Maintains a total of
three (3) warehouse. These include:
- Kuan Yin
Industrial Zone-Warehouse
-
-
*Factories, Size
& Locations*
======================
The company is a
trading house, and maintains no manufacturing facilities.
*Corporate &
Organization Structure*
============================
A medium sized
specialized company operated and managed by the owner and professional
management team.
www.methyl.com.tw The design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
E-mail: methyl@ms5.hinet.net
For the past two
years there is no record of litigation.
*Major Shareholders*
================
Total number of
shareholders: N/A
Total number of
shares: N/A
Shareholders Country Number Amount (NTD)
Mr. Ching-ta
Chung
Management: Mr. Robert Chin, Assist. Manager
Mr.
Fancy Wei-hua Liu, Representative
Mr.
Ching-ta Chung, General Manager
Name Nationality Job Description Dept. / Division
Mr. Robert Chin Taiwanese Assist. Manager Office
Mr. Fancy Wei-hua
Liu Taiwanese Representative Sales
Mr. Ching-ta Chung Taiwanese General Manager -
*Company Director*
================
1
Name : Mr. Robert
Chin
Sex : M
2
Name : Mr. Fancy
Wei-hua Liu
Sex : M
3
Name : Mr. Ching-ta
Chung
Sex : M
Country of Residence
:
Work experience :
Has more than 19 years of experience
Responsibilities :
Handles the daily operation of the firm including all financial, sales and
legal matters.
*Main Products &
Services*
=====================
Specializing in the
following main areas of work:
1. Importing and
local purchasing of a wide range of chemical raw materials, such as
insecticides and resins.
2. Warehousing and
packaging of imported materials.
3. Export and
domestic sales of chemicals.
Products: Acrylic
monomer
Chemical raw materials
Composite material
Copolymer
Industrial solvents
*Payment Terms*
=============
Sales
-------
Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Document against Acceptance
(D/A)
Telegraphic Transfer (T/T)
Purchases
--------------
Local : 30-90 days credit
Import : Letter of
Credit (L/C)
Document against Acceptance
(D/A)
Telegraphic Transfer (T/T)
Open account /DA terms with
settlement using Telegraphic Transfer (T/T)
*Competitors*
===========
The following
locally based companies supply similar range of products:
- WGJ CO LTD
- FULL HOARD TRADING
CO LTD
- GENIUS-FIVE
ENTERPRISE CO LTD
- SPECIAL PLASTIC
CORP
- JILIN CHEMICALS CO
LTD
*DOMESTIC SUPPLIERS*
=====================
AMIN CO LTD
BRENNTAG CHEMICALS
CO LTD
CHANG CHUN
PETROCHEMICAL CO LTD
CYTEC TAIWAN CORP
CYTEC TAIWAN LTD
DAIREN CHEMICAL CORP
FORMOSA CHEMICALS
& FIBRE CORP
FORMOSA PLASTICS
CORP
LEE CHANG YUNG
CHEMICAL INDUSTRY CORP
ORIENTAL UNION
CHEMICAL CORP
RHODIA TAIWAN CO LTD
SHELL PETROCHIMIE
CORP
SHINY CHEMICAL
INDUSTRIAL CO LTD
TAIWAN FERTILIZER CO
LTD
TAIWAN PROSPERITY
CHEMICAL CORP
*Local Distribution
Network*
=======================
An estimated 85% of
the annual turnover is attributed to local sales.
*Export Markets*
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An estimated 15% of
the annual turnover is attributed to export.
*OVERSEAS SUPPLIERS*
======================
BASF LTD
BASF-YPC CO LTD
CNOOC & SHELL
PETROCHEMICAL CO LTD
CYTEC SURFACE
SPECIALTIES
DEGUSSA HONG KONG
LTD
DOVECHEM GROUP
DOW CHEMICAL PACIFIC
LTD
ETERNAL SHOWA
HIGHPOLYMER CORP LTD
EUROPEAN OXO
CHEMICAL
EXXONMOBIL CHEMICAL
INT'L SERVICE LTD
LUCITE INT'L
LYONDELL CHEMICAL
OXEA GMBH
TAMINCO N V
*(Subsidiaries,
Joint-ventures & Affiliates)
===============================
Business Entity Name
: ORIENT GLORY TRADING LTD
Address : Suite B
8Fl
Country :
Relationship :
Subsidiary
Legal Form : Private
Company with Limited Liability
Company Type :
Trader
Industry : Chemicals
Business Entity Name
: WINVAST CHEMICAL LTD
Address : Flat B 8Fl
Country :
Relationship :
Subsidiary
Legal Form : Private
Company with Limited Liability
Company Type :
Trader
Industry : Chemicals
*Subsidiaries,
Joint-ventures & Affiliates*
===============================
Maintains the
following overseas facilities:
-
- Hong Kong Terminal
- Shanghai -
Shanghai DoveChem - Bomta Terminal
- Zhangjiagang -
Trans - Ocean Tank Terminal
-
PAYMENT RATING : 3 OBTAINED
SCORES : 65
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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 USD6 million, there is no legal
requirement according to local corporate law for public disclosure of detailed
financial.
Although financial
summaries were obtained for reference.
*BANK DETAILS*
===============
Bank Name : BANK OF
Branch : Chungcheng
Dist,
Branch Address :
SWIFT Code :
BKTWTWTP
Bank Name : CITIBANK
NA
Branch : Sungshan
Dist,
Branch Address : Walsin
Financial Bldg 117-1 Min Sheng East Rd Section 3
SWIFT Code :
CITITWTX
Bank Name : HUA NAN
COMMERCIAL BANK LTD
Branch : Chungcheng
Dist,
Branch Address :
SWIFT Code :
HNBKTWTP
*Financial Summary
(Currency:
==============================
Year Sales Assets
Net Income
2006 $12,484,885.13 $1,269,649.33 $453,446.19
2007 $12,190,706.10 $1,267,350.63 $440,555.22
2008 $21,024,844.72 $1,397,515.53 $692,546.58
2009 $12,029,841.47 $1,398,818.78 $360,895.24
*Int´l Trade
Activity (Currency:
===============================
Year Imports Exports
Total
2004 $8,000,000.00 $3,000,000.00 $11,000,000.00
2005 $7,000,000.00 $2,000,000.00 $9,000,000.00
2006 $6,000,000.00 $1,900,000.00 $7,900,000.00
2007 $3,950,000.00 $3,020,000.00 $6,970,000.00
2008 $10,090,000.00 $2,610,000.00 $12,700,000.00
2009 $6,850,000.00 $450,000.00 $7,300,000.00
SC is considered medium-sized
in its line with a development history of 21 years. Taking into consideration
of SC’s general performance, a credit line up to USD 100,000 appears to be
within SC’s capacities.
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2800
Chemicals and Allied Products
Trading 2821
Plastics materials and resins
Trading 2899
Chemical preparations,
Trading 2911
Petroleum refinery products
Trading 5169
Chemicals/Allied Prdts, NEC
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting 2905140010
2-methylpropan-1-ol (isobutyl
alcohol)
Exporting 2906120000
Cyclohexanol, methylcyclohexanols
and dimethylcyclohexanols
Exporting 2909430000
Monobutyl ethers of ethylene glycol
or of diethylene glycol
Exporting 2914190000
Other acyclic ketones without other
oxygen functn
Exporting 2915393500
Other aromatic esters of acetic acid
Exporting 3901300000
Ethylene-vinyl acetate copolymers
Importing 2905160050
Other octanols and isomers thereof
(exc ethylhexan-1-ol)
Importing 2909430000
Monobutyl ethers of ethylene glycol
or of diethylene glycol
Importing 2914190000
Other acyclic ketones without other
oxygen functn
Importing 2914404000
Other aromatic ketone-alcohols and
ketone-aldehyds
DETAILED PRODUCT CLASSIFICATION &
ACTIVITY
Activity Product/Service
Description
Trader Acrylic monomer
Trader Plasticizers
Trader Monomers
Trader Specialty chemicals
Trader Copolymer
Trader PVC resin, plastic materials
Trader Petroleum
Trader Industrial solvents
Trader Solvents
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.02 |
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1 |
Rs.72.70 |
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Euro |
1 |
Rs.62.54 |
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.