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Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
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Name : |
BORICA CO., LTD. |
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Registered Office : |
6F., No.158, Sec. 1, |
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Country : |
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Date of Incorporation : |
24.07.1998 |
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Com. Reg. No.: |
16609683 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of Tytan, Hylube, and chemical, etc |
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No. of Employees : |
About 30 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 |
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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 Ratig (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: |
6F., No.158, Sec. 1, Sinsheng S. Rd.,
Jhongjheng District, Taipei City 100, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-2358-2958 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
Borica Co., Ltd. |
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Registered Address: |
6F., No.158, Sec. 1, Sinsheng S. Rd., Jhongjheng District, Taipei City
100, Taiwan (R.O.C.) |
|
Date of Foundation: |
1998-7-24 |
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Registration Number: |
16609683 |
|
Registry: |
Taipei City Government |
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Registered Capital: |
NTD 26,000,000
(USD 86,840) (As of 2012.07, 1 NTD = 0.0334 USD) |
|
Paid-up Capital: |
NTD 26,000,000 (USD 86,840) |
|
Legal Representatives: |
Fuming Chuai |
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Legal Form: |
|
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Principal Activities: |
Manufacturing and sales of Tytan, Hylube, and
chemical, etc |
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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 1998-7-24 with registered number 16609683 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Fuming Chuai |
1,341,751 |
|
Jinglan Wen |
1,145,249 |
|
Qiongwen Chuai |
62,000 |
|
Jingman Wen |
51,000 |
The information above is that of subject’s major shareholders.
Office
|
1 |
|
|
Name |
Europe Office |
|
Address |
Elzenstraat 31,
3950 Bocholt, Belgium |
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Telephone Number |
+32-0-8946-4294 |
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2 |
|
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Name |
N. America
Office |
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Telephone Number |
+1-778-995-6579 |
Core
Management
|
1 |
|
|
Name |
Fuming Chuai |
|
Position |
Chairman |
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2 |
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Name |
Jinglan Wen |
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Position |
Director |
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3 |
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|
Name |
Qiongwen Chuai |
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Position |
Director |
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4 |
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Name |
Jingman Wen |
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Position |
Director |
Personnel
Structure
|
Total Employees |
About 30 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
6F., No.158, Sec. 1, Sinsheng S. Rd., Jhongjheng District, Taipei City
100, Taiwan (R.O.C.) |
Production
Information
l
Subject is engaged in manufacturing of Tytan and Hylube, etc.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F401010 |
International trade business |
|
F207010 |
Retail of paint and coating |
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F207020 |
Retail of dye and pigment |
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F207030 |
Retail of cleaning supplies |
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F207050 |
Retail of fertilizer |
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F207070 |
Retail of animal medicine |
|
F207080 |
Retail of environmental medicine |
|
G801010 |
Storage business |
|
I103010 |
Consultant of company management |
l
The raw material for production are
mostly purchased from domestic
Sales
Information
l
Subject is engaged in sales of Tytan and Hylube, etc.
l
Subject’s sales regions include Asia, Europe and
America, etc.
l
Subject’s products are
applied to printing ink, coating, plastic and cosmetics.
l
Subject is the agency of FORMOSA to sell products
such as MMA.
Major products
sold
|
|
Product |
|
1 |
Tytan-Titanates |
|
2 |
Nyacol |
|
3 |
Phosphate Chemicals |
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4 |
Hylube - Fatty Ester |
|
5 |
Hymer-Acrylates |
|
6 |
Chemicals |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
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Raw material |
COD, CBD, etc |
100% |
Foreign Purchase
Sales
Domestic Markets (Taiwan)
|
Sales Terms |
Proportion |
|
|
Tytan and Hylube |
COD,CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Tytan and Hylube |
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. Wen declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
|
Name |
Taiwan Bank |
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. Wen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.38 |
|
UK Pound |
1 |
Rs.87.44 |
|
Euro |
1 |
Rs.68.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.