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Report Date : |
24.07.2012 |
IDENTIFICATION DETAILS
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Name : |
MING TAI CHEMICAL CO., LTD. |
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Registered Office : |
No.1142, |
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Country : |
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Date of Incorporation : |
02.06.1972 |
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Com. Reg. No.: |
43651729 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of
pharmaceutical excipient and food ingredient |
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No. of Employees : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.1142, Shin Hsing Rd., Bah-Der
City, Taoyuan Hsien, Taiwan |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
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E-mail: |
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Website: |
Notes:
The exact name and address are as above mentioned.
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Registered Name: |
Ming Tai Chemical Co., Ltd. |
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Registered Address: |
No.1142, Shin Hsing Rd., Bah-Der City, Taoyuan
Hsien, Taiwan |
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Date of Foundation: |
1972-6-2 |
|
Registration Number: |
43651729 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs,
R.O.C. |
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Registered Capital: |
NTD 660,000,000
(USD 22,044,000) (As of 2012.07, 1 NTD = 0.0334 USD) |
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Paid-up Capital: |
NTD 660,000,000 (USD 22,044,000) |
|
Legal Representatives: |
Shangwen Chen |
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Legal Form: |
|
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Principal Activities: |
Manufacturing
and sales of pharmaceutical excipient and food ingredient |
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Staff: |
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Listed
at Stock Exchange: |
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Date
of Last Annual Return: |
Subject was incorporated on 1972-6-2 with registered number 43651729 as Joint Stock Company in Taiwan.
Awards
|
Year
|
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 |
|
Name |
Subscription Shares |
|
Shangwen Chen |
1,596,888 |
|
Zhihai Lin |
362,356 |
|
Yuwu Zhuang |
20,000 |
|
Zhengyu Chen |
132,000 |
|
Yongyu Chen |
216,909 |
|
Shengchang Kang |
428,079 |
The information above is that of subject’s major shareholders.
Related Company
|
Name |
Ming
Tai Chemical LLC. |
|
Address |
608
Sherwood Parkway, Mountainside, NJ 07092 USA |
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Telephone
Number |
+1-908-928-9401 |
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Fax
Number |
+1-908-928-9407 |
Core Management
Directors
|
1 |
|
|
Shangwen Chen |
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Position |
Chairman
|
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2 |
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|
Name |
Zhihai
Lin |
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Position |
Director
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3 |
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Name |
Yuwu
Zhuang |
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Position |
Director
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4 |
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|
Name |
Zhengyu
Chen |
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Position |
Director
|
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5 |
|
|
Name |
Yongyu
Chen |
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Position |
Director
|
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6 |
|
|
Name |
Shengchang
Kang |
|
Position |
Supervisor
|
Personnel
Structure
|
Total
Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.1142, Shin Hsing Rd., Bah-Der City, Taoyuan
Hsien, Taiwan |
Production
Information
l
Subject is engaged
in manufacturing of pharmaceutical excipient and food ingredient
such as microcrystalline cellulose, croscarmellose sodium and
microcrystalline cellulose, etc.
Purchase
Information
l
The registered activities of subject:
|
Business
Code |
Details |
|
C801010 |
Basic chemical industry |
|
C802120 |
Manufacturing of industrial additives |
|
F107170 |
Wholesale of industrial additives |
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F107200 |
Wholesale of chemical materials |
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F113010 |
Wholesale of machinery |
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F207170 |
Retail of industrial additives |
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F207200 |
Retail of chemical materials |
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F213080 |
Retail of mechanical appliance |
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F401010 |
International trade business |
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C199990 |
Manufacturing of other unclassified
food |
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F121010 |
Wholesale of food additives |
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F221010 |
Retail of food additives |
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ZZ99999 |
Besides
licensed business, all other business items those are not banned or
restricted. |
l
The raw materials for production are
mostly purchased from abroad.
l
It is
introduced that subject import technique from Japan, etc.
l
Subject is
engaged in sales of pharmaceutical excipient and food ingredient such as microcrystalline
cellulose, croscarmellose sodium and microcrystalline cellulose, etc.
l
Subject
obtained the certifications of ISO 9001:2000 and ISO 14001:2004.
l
It is
introduced that subject has more than 70 distribution partners in different
parts of the world.
Major
products sold
|
Product |
Brand |
Application |
|
Microcrystalline Cellulose |
COMPRECEL |
Drug (binder, disintegrant, filler,
lubricant, flow aid) Food (anticaking agent, calories
replacement, baked foods, absorbent, extruded agent) Industry (paving, painter, plastic,
thin layer chromatography, disinfectant) |
|
Croscarmellose Sodium |
DISOLCEL |
Pharmaceutical tablets, capsules,
absorbent |
|
Microcrystalline Cellulose |
NEOCEL |
Drug (syrup, antiacid suspension, emulsion,
nasal sprays and ointment) Food (dairy product, beverage, bakery
product, sauce & dressing and processed meat) Personal care (toothpaste, cream,
lotion, foams, foundations and shampoo) |
|
Powder Inspection Equipment CCD
Camera2 |
-- |
Inspection of sampling Foreign material inspection machine Powder |
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Subject has little domestic purchase.
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
CBD, etc |
100% |
Sales
Domestic Markets (Taiwan and Mainland,
China)
|
Sales Terms |
Proportion |
|
|
Microcrystalline cellulose,
croscarmellose sodium and microcrystalline cellulose, etc |
COD,
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Microcrystalline cellulose,
croscarmellose sodium and microcrystalline cellulose, etc |
CBD, etc |
100% |
Notes:
Subject’s settlement for export is
generally in USD
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’s relevant staff Ms. Alice 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 cannot 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.
|
Name |
Ms. Alice |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.76 |
|
|
1 |
Rs.86.79 |
|
Euro |
1 |
Rs.67.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.