MIRA INFORM REPORT
|
Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
SOLAR FINE CHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
19 Fl Formosa Bldg, 161-1
Sung Teh Rd, Hsin -I Dist, Taipei City 110 |
|
|
|
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Country : |
Taiwan |
|
|
|
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Date of Incorporation : |
30.03.1984 |
|
|
|
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Com. Reg. No.: |
09458767 |
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|
|
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Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Textile Dyes Manufacturing |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 300,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
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) |
|
Taiwan |
a2 |
a2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Contact
Points
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
19 Fl Formosa Bldg, 161-1 Sung Teh Rd, Hsin
-I Dist, Taipei City 110, Taiwan |
|
Supplied Address: |
19 FL Formosa Bldg 161-1 Sung Teh Rd Hsin
-I Dist Taipei City 110, Taiwan |
|
Telephone Number: |
+886-2-2346-8022 |
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Fax Number: |
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E-mail: |
Credit
Summary
|
Credit Rating: |
|
|
Credit Opinion: |
Company
Identification Details
|
Registered Name: |
Solar Fine
Chemical Co., Ltd. |
|
Registered
Address: |
19 Fl Formosa
Bldg, 161-1 Sung Teh Rd, Hsin -I Dist, Taipei City 110, Taiwan |
|
Date of
Foundation: |
|
|
Registration
Number: |
|
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
NTD 495,373,260 (USD 16,347,317.58) (As of 2011.10, 1
NTD = 0.0330 USD) |
|
Paid-up Capital: |
NTD 495,373,260
(USD 16,347,317.58) |
|
Legal
Representatives: |
Zhongrong Xue |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
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Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
History
Subject was incorporated on 1984-3-30 with registered number 09458767
as Joint Stock Company in Taiwan.
|
1984 |
Establishment of company in Taipei and
factory in Taiyuan Industrial Park. Production of direct dyes & reactive
dyes. |
|
1986 |
Production of bifunctional reactive dyes. Production
of printing reactive dyes. Capacity increase to 200 M/T. Moving to Synyi road. |
|
1991 |
Production of leather dyes and disperses
dyes. Production of acid dyes. |
|
1994 |
Moving to Formosa Building Taipei as
headquarters. |
|
1997 |
ISO 9002 Certificate |
Awards
|
Awards
|
|
|
2008 |
Blue chip importer and exporter |
|
2009 |
Blue chip importer and exporter |
|
2010 |
Blue chip importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
Shareholders
|
Name |
Subscription
Shares |
|
1,692,376 |
|
|
2,431,664 |
|
|
286,201 |
|
|
724,955 |
|
|
743,453 |
|
|
504,833 |
|
|
5,364,515 |
|
|
1,855,406 |
|
|
3,128,713 |
|
|
710,014 |
Notes:
The information above is that
of subject’s major shareholders.
Subsidiaries &
Branches
The subject has two factories in Taiwan.
Personnel
Information
Core Management
|
1 |
|
|
Name |
Zhongrong Xue |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zhong’an Xue |
|
Position |
Vice-Director |
|
3 |
|
|
Name |
Shixiong Wang |
|
Position |
|
|
4 |
|
|
Name |
Zhongcheng Xue |
|
Position |
Director |
|
5 |
|
|
Name |
Xiuying Xue |
|
Position |
Director |
|
6 |
|
|
Name |
Zhongjie Xue |
|
Position |
Director |
|
7 |
|
|
Name |
China Development Industrial Bank Co., Ltd |
|
Position |
Director |
|
8 |
|
|
Name |
|
|
Position |
Director |
|
9 |
|
|
Name |
Fengqun Investment Holding Co., Ltd |
|
Position |
Director |
|
10 |
|
|
Name |
Xinyuan Xie |
|
Position |
Auditor |
Personnel Structure
|
Total Employees |
More than 140 employees |
Operation
Information
Offices & Factories
|
|
Headquarters
|
|
Add |
19 Fl Formosa
Bldg, 161-1 Sung Teh Rd, Hsin -I Dist, Taipei City 110, Taiwan |
Production Information
l
Annual
production is 7,500 tons.
l
The
subject produces reactive dyes, leather dyes, disperse dyes.
Super direct dyes and acid dyes, etc.
l
The
subject produces in Taiwan.
Purchase Information
l
The raw
material for production is mostly purchased from domestic markets.
l
The
subject is mainly engaged in sales of reactive dyes,
leather dyes, disperse dyes. Super direct dyes and acid dyes, etc.
l
The
subject has over 200 customers all over the world.
l
The
subject sells products in American, European, Asian, Middle-Eastern and as well
as African Markets.
Import and export right:
|
Import
right |
Yes |
|
Export
right |
Yes |
Settlements
Purchase
Domestic
Purchase (Taiwan and Mainland, China)
|
Payment
Terms |
Proportion |
|
|
Raw
material |
COD,
etc |
100 |
Foreign
Purchase
Sales
Domestic
Markets (Taiwan)
|
Sales
Terms |
Proportion |
|
|
CBD,
etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Dyes |
CBD,
etc |
100% |
Financial
Information
|
Sales |
|
|
2010 |
About
USD 30,000,000 |
Notes: We obtain the information of subject from
public files which is not confirmed by subject.
Bankers
|
Name |
Taiwan
Bank |
Public Record
Mortgage
No chattel mortgage
record of subject has been found within the recent 3 months.
Lawsuit
Up to date of reporting, no existing or
latent litigation of the subject has been found.
Interview
Details
|
Name |
Mingyan Xie |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
UK Pound |
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.17 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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.