MIRA INFORM REPORT

 

 

Report Date :           

13.03.2012

 

IDENTIFICATION DETAILS

 

Name :

FAIMING CHEMICAL CO., LTD. 

 

 

Registered Office :

4F., No.8, LN. 90, Wenhua Rd., Yonghe Dist., New Taipei City 234

 

 

Country :

Taiwan

 

 

Date of Incorporation :

16.04.1986

 

 

Com. Reg. No.:

22109623

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject is engaged in selling and processing of agents, coating etc.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

           

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 8,000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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:

Faiming Chemical Co., Ltd.

Supplied Name:

Faiming Cheical Co Ltd

Supplied Address:

4F No 8 LN 90 Wehhua Rd, Yonghe Dist New Taipei

Telephone Number:

+886-2-2988-3885

Fax Number:

+886-2-2986-0952

Notes:

The supplied name is incorrect, and the exact name is as above.

 

 

Credit Summary

 

Credit Rating:

Maximum credit USD 8,000

Credit Opinion:

Business connections are permissible.

 

 

Special Note

 

According to the supplied name and address, we have founded the telephone number ‘+886-2-2988-3885’, we called the subject, a lady answered the phone, we only confirmed the name of the subject, she declined to provide any information about the subject and hung up the phone.

The registration files show that subject is engaged in selling and processing of agents, coating etc. Since the subject declined to provide any information about the subject, we cannot confirm the information.

We found subject’s registration information as follows for reference.

 

 

Company Identification Details

 

Registered Name:

Faiming Chemical Co., Ltd.

Registered Address:

4F., No.8, LN. 90, Wenhua Rd., Yonghe Dist., New Taipei City 234, Taiwan (R.O.C.)

Date of Foundation:

1986-04-16

Registration Number:

22109623

Registry:

New Taipei City Government

Registered Capital:

NTD 10,000,000 (USD 338,600)

(As of 2012.03, 1 NTD=0.03386 USD)

Legal Representatives:

Minghui Wang

Legal Form:

Limited Liability Company

Principal Activities:

Subject is engaged in selling and processing of agents, coating etc.

Staff:

N/A

Listed at Stock Exchange:

No

Date of Last Annual Return:

2008-07-30

Notes:

Subject declines to provide the information about staff number due to the confidentiality.

 

 

History

 

Subject was incorporated on 1986-04-16 with registered number 22109623 as Limited Liability Company in Taiwan.

 

 

Shareholders

(Unit: NTD)

           

Name

Subscription Amount

Minghui Wang

10,000,000
 

The information above is that of subject’s major shareholders.

 

 

Subsidiaries & Branches

 

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

 

Personnel Information

 

Core Management

Directors

Name

Minghui Wang

Position

Director

 

 

Operation Information

 

Offices & Factories

 

Headquarters

Address

4F., No.8, LN. 90, Wenhua Rd., Yonghe Dist., New Taipei City 234, Taiwan (R.O.C.)

 

Production Information

According to the supplied name and address, we have founded the telephone number ‘+886-2-2988-3885’, we called the subject, a lady answered the phone, we only confirmed the name of the subject, she declined to provide any information about the subject and hung up the phone.

The registration files show that subject is engaged in selling and processing of agents, coating etc.

We found subject’s registration information about the activities as follows for reference.

l         The registered activities of subject:

 

Details

1

Selling and processing of agents and coating

2

About the sale of raw materials mentioned in the preceding paragraph and the import and export trade business

3

Business and investment in the preceding paragraph

Import and export right:

Import right

Yes

Export right

Yes

 

Settlements

 

Since the subject declined to provide any information about the subject, so the information about the settlement is not available.

 

 

Financial Information

 

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.

Since the subject declined to provide any information about the subject, we cannot obtain the financial information about the subject; from other source we can not obtain the relevant information, either.

 

 

Bankers

 

Subject did not introduce its bank details; from other source we cannot obtain the relevant information, either.

 

 

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.


FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.94

UK Pound

1

Rs.78.25

Euro

1

Rs.65.39

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.