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Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
ZIMI CHEMICALS CO., LTD. |
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Registered Office : |
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Country : |
Taiwan |
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Date of Incorporation : |
16.11.1960 |
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Reg. No.: |
07209709 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
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No. of Employees : |
About 100 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Taiwan - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. Taiwan's Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 accounting for 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.
Source : CIA
Notes: Subject’s exact name and address are as
above and supplied phone number +886-2-2788-1188 and fax +886-2-2788-1188 does
not belong to subject.
|
Credit Opinion: |
Subject was incorporated on
Awards
|
Year |
Awards |
|
2009 |
Blue chip importer and exporter |
|
2010 |
Blue chip importer and exporter |
|
2011 |
Blue chip importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
2011 |
22000,000 |
|
Name |
Subscription Shares |
|
Yongsheng Gao |
4,557,000 |
|
Taiping Gao |
|
|
4,603,000 |
|
|
Lina Xu |
2,306,000 |
|
Huizhen Wang |
3,089,000 |
The information above is that of subject’s major shareholders.
Warehouse:
|
Address |
No.15-1 Suitui Pu Ding Villige, Sinwu Township, Taoyuan Hsien, Taiwan,
R.O.C. |
|
Area |
About 25,000 square meters |
Factory
|
Address |
Hukou Industrial Area, Hsinchu, Taiwan |
Core Management
Directors
|
1 |
|
|
Name |
Yongsheng Gao |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Taiping Gao |
|
Position |
Director |
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3 |
|
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Name |
Lina Xu |
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Position |
Director |
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4 |
|
|
Name |
Weijin Gao |
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Position |
Director |
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5 |
|
|
Name |
Huizhen Wang |
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Position |
Supervisor |
Offices & Factories
|
|
Headquarters |
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Add |
|
Production Information
It is introduced that subject’s Hsinchu factory is engaged in
manufacture of chemical materials and food additives such as phosphoric acid,
etc
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
A102020 |
Processing of agricultural food |
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A102050 |
Agricultural services |
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C103020 |
Manufacture of frozen food |
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C103030 |
Manufacture of dried food |
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C103050 |
|
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C108010 |
Manufacture of sugar |
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C109010 |
Manufacture of condiment |
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C399990 |
Manufacture of other textiles |
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C401030 |
Leather and fur processing industry |
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C801010 |
Basic chemical industry |
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C801990 |
Other chemical materials manufacturing |
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C802090 |
Cleaning products manufacturing |
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C802100 |
Cosmetics manufacturing |
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C802120 |
Industrial additives manufacturing |
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C802200 |
Coating paint dye and pigment manufacturing |
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C804020 |
Industrial rubber products manufacturing |
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C804990 |
Other rubber products manufacturing |
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CC01110 |
Computer and peripheral equipment manufacturing |
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CD01030 |
Manufacture of Motor vehicles and parts |
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CD01040 |
Manufacture of Locomotive and parts |
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CH01030 |
Manufacture of stationery |
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F102130 |
Wholesales of condiment |
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F102160 |
Wholesales of accessory food |
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F102170 |
Wholesales of food and groceries |
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F103010 |
Wholesales of feed |
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F107050 |
Wholesales of fertilizer |
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F107200 |
Wholesales of Chemical raw materials |
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F207200 |
Retails of Chemical raw materials |
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F107060 |
Wholesales of Toxic Chemicals |
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F207060 |
Retails of Toxic Chemicals |
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F401010 |
International Trading Business |
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F106010 |
Wholesales of hardware |
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F107100 |
Wholesales of mechanical equipment |
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CB01010 |
Manufacture of mechanical equipment |
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H701010 |
Development, leasing and sales of Residential and building |
|
H701020 |
Development, leasing and sales of industrial plants |
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H701060 |
|
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H703090 |
Real estate selling business |
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H701050 |
Investment of Public Construction |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject purchases from Japan, USA, U.K. Germany,
Spain, Belgium, Italy, Argentina, India, Malaysia, Indonesia, The Netherlands,
The mainland of China, etc
It is introduced that subject also cooperates
with suppliers in Taiwan such as China Petrochemical Development Corporation,
Taiwan Fertilizer Company, Formosa Plastics Corporation, LCY CHEMICAL CORP. and Taiwan Pulp & Paper Corporation,
etc
The subject is mainly engaged in chemical
materials and food additives, etc
Subject’s products are both sold in domestic and overseas market.
Major products
|
ACETIC ACID |
ACTIVATED CARBON |
ACTIVATED CLAY |
|
ALUM |
ALUMINIUM FLUORIDE |
ALUMINIUM HYDROXIDE |
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ALUMINIUM SULFATE |
AMMONIUM ACETATE |
AMMONIUM BICARBONATE |
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AMMONIUM BIFLUORIDE |
AMMONIUM CHLORIDE |
AMMONIUM NITRATE |
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AMMONIUM PERSULFATE |
AMMONIUM SULFATE |
ANILINE |
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ANION/CATION RESIN |
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T (BUTYLATED HYDROXYTOLUENE) |
BARIUM CARBONATE |
BARIUM CHLORIDE |
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BARIUM HYDROXIDE |
BENZOIC ACID |
BLEACHING POWDER (CALCIUM HYPOCHLORITE) |
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BORAX (DISODIUM TETRABORATE) |
BORIC ACID |
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CALCIUM CARBONATE |
CALCIUM CHLORIDE |
CALCIUM FORMATE |
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CALCIUM HYDROXIDE |
CALCIUM HYPOCHLORITE TABLET |
CALCIUM NITRATE |
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CAUSTIC POTASH (POTASSIUM HYDROXIDE) |
CHROME OXIDE GREEN |
CHROMIC ACID (CHROMIUM TRIOXIDE) |
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CITRIC ACID |
COBALT CHLORIDE |
COBALT NITRATE |
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COBALT OXIDE |
COBALT SULFATE |
COPPER ACETATE |
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COPPER SULFATE |
CRESYLIC ACID (CRESOL) |
CYANURIC CHLORIDE |
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D.M.F (DIMETHYLFORMAMIDE) |
DEFOAMING AGENT |
DIAMMONIUM PHOSPHATE |
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DIATOMITE (DIATOMACEOUS EARTH) |
DICYANDIAMIDE |
DIPOTASSIUM PHOSPHATE |
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DISODIUM PHOSPHATE |
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ETHYLENE GLYCOL (ETHANEDIOL) |
ETHYLENE TRICHLORIDE |
ETHYLENEDIAMINE TETRACETIC ACID 4Na |
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FERRIC NITRATE |
FERRIC OXIDE |
FERROUS SULFATE |
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FLUOBORIC ACID |
FORMIC ACID |
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GLYCERIN |
GUM ARABIC |
GUM ROSIN |
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HEXACHLOROETHANE |
HEXANDIOIC ACID (HEXANE DIACID) |
HEXANDIOL |
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HIGH MOLECULAR AGGLUTINANT |
HYDRAZINE |
HYDROCHLORIC ACID |
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HYDROFLUORIC ACID |
HYDROGEN PEROXIDE |
|
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MAGNESIUM ACETATE |
MAGNESIUM CHLORIDE |
MAGNESIUM OXIDE |
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MAGNESIUM SULFATE |
MANGANESE SULFATE |
METAL CHELATING AGENT |
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METHANOL |
METHYL CELLULOSE |
MONOAMMONIUM PHOSPHATE |
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MONOPOTASSIUM PHOSPHATE |
MONOSODIUM PHOSPHATE |
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NICKEL ACETATE |
NICKEL SULFAMATE |
NICKEL SULFATE |
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NITRE (NITER) |
NITRIC ACID |
NITROBENZENE |
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OLEIC ACID |
OXALIC ACID |
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PARAFFIN OIL |
PARAFFIN WAX |
PHENOL |
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PHOSPHORIC ACID |
POLYALUMINIUM CHLORIDE |
POTASSIUM ALUM |
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POTASSIUM CARBONATE |
POTASSIUM CHLORATE |
POTASSIUM CHLORIDE |
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POTASSIUM DICHROMATE |
POTASSIUM NITRATE |
POTASSIUM PERMANGANATE |
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POTASSIUM PERSULFATE |
PROPIONIC ACID |
PVA (POLYVINYLALCOHOL) |
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SALICYLIC ACID |
SILICA GEL |
SILVER NITRATE |
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SODA ASH (SODIUM CARBONATE) |
SODIUM ACETATE |
SODIUM BENZOATE |
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SODIUM BICARBONATE |
SODIUM BIFLUORIDE |
SODIUM BISULFATE |
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SODIUM BROMIDE |
SODIUM CHLORATE |
SODIUM CHLORITE |
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SODIUM CITRATE |
SODIUM DICHROMATE |
SODIUM FLUORIDE |
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SODIUM FORMATE |
SODIUM GLUCONATE |
SODIUM HEXAMETAPHOSPHATE |
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SODIUM HYDROSULFIDE |
SODIUM HYDROSULFITE |
SODIUM HYDROXIDE FLAKE (CAUSTIC SODA) |
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SODIUM HYDROXIDE LIQUID (CAUSTIC SODA) |
SODIUM HYPOPHOSPHITE |
SODIUM LAURYL ALCOHOL SULFATE |
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SODIUM METABISULFITE |
SODIUM NITRATE |
SODIUM NITRITE |
|
SODIUM PERBORATE |
SODIUM PERCARBONATE |
SODIUM PERMANGANATE |
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SODIUM PERSULFATE |
SODIUM POTASSIUM TARTRATE |
SODIUM PYROPHOSPHATE (ACID SODIUM PHOSPHATE) |
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SODIUM SILICATE POWDER |
SODIUM SULFIDE |
SODIUM SULFITE |
|
SODIUM SULPHATE |
SODIUM THIOSULPHATE |
SODIUM TRIPOLYPHOSPHATE |
|
STANNOUS SULFATE |
STEARIC ACID |
STRONTIUM CARBONATE |
|
SULFAMIC ACID |
SULFOSALICYLIC ACID |
SULFURIC ACID |
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TARTARIC ACID |
TITANIUM DIOXIDE |
TRISODIUM PHOSPHATE |
|
TUNG OIL (CHINA WOOD OIL) |
|
|
|
UREA |
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|
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VANADIUM PENTOXIDE |
VASELINE (PETROLEUM JELLY) |
|
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ZINC ACETATE |
ZINC CHLORIDE |
ZINC NITRATE |
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ZINC OXIDE |
ZINC SULFATE |
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Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
Chemical materials and food additives, etc |
CBD, COD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
Chemical materials and food additives, etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Chemical materials
and food additives, etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Chemical
materials and food additives, etc |
CBD, etc |
100% |
Subject has no obligations to disclose its financial
statements to the third party according to the relevant policy in Taiwan and
the only source from which we can obtain the information is the subject itself.
Subject declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
Subject declined to disclose its bank details;
from other source we can not obtain the relevant information, either.
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.
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.20 |
|
|
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.