|
Report Date : |
12.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
TAIWAN SURFACTANT CORP. |
|
|
|
|
Registered Office : |
8FL, No. 11 Sec 1, Chung Shan North Road, Chung Shan
District, Taipei |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
15.02.1979 |
|
|
|
|
Com. Reg. No.: |
12213318 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and sales of surfactants |
|
|
|
|
No. of Employees : |
About 100 Employees |
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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
8FL, No. 11 Sec 1, Chung Shan North Road,
Chung Shan District, Taipei, Taiwan R.O.C |
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
|
|
E-mail: |
Notes: Subject’s exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on
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 |
|
Zhenghui Xie |
3,173,960 |
|
Taiyang Lian |
|
|
2,691,940 |
|
|
Zhenqi Wu |
1,428,480 |
|
Zhengcheng Huang |
707,000 |
|
Suniang Zhang |
510,000 |
|
Xiumei Huang |
618,835 |
|
Zongren Wang |
1,703,000 |
|
Yan Lin |
550,040 |
|
Shumei Fanjiang |
936,000 |
|
Xueyan Pan |
419,520 |
The information above is that of subject’s major shareholders.
Factory, Office
and related Company
|
1st Factory No. 514,
Cheng-Kung Rd, Sec. 1, Kwang-Inn Industrial Area, Taoyuan County, Taiwan Tel:
+886-3-483-9421 Fax:
+886-3-483-9140 Sino Surfactant Head Office
& Factory No.111 Chun Hua
Road, Jinshan Industry Zone No.2 Jinshan,Shanghai,China, 201512 Tel:
+86-21-67262323 Fax:
+86-21-67261137 Shanghai Office Room 202,Liwei
Technology Building, No.3203,Hongmei Road, Minhang District ,Shanghai,201103 Tel: +86-21-64052300 Tel:
+86-21-64052338 Fax:
+86-21-64052332 |
Core
Management
|
1 |
|
|
Name |
Zhenghui Xie |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Taiyang Lian |
|
Position |
Managing
Director |
|
3 |
|
|
Name |
Zhenqi Wu |
|
Position |
Managing
Director |
|
4 |
|
|
Name |
Zhengcheng Huang
|
|
Position |
Director |
|
5 |
|
|
Name |
Suniang Zhang |
|
Position |
Director |
|
6 |
|
|
Name |
Xiumei Huang |
|
Position |
Director |
|
7 |
|
|
Name |
Zongren Wang |
|
Position |
Director |
|
8 |
|
|
Name |
Yan Lin |
|
Position |
Director |
|
9 |
|
|
Name |
Shumei Fanjiang |
|
Position |
Director |
|
10 |
|
|
Name |
Xueyan Pan |
|
Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Add |
8FL, No. 11 Sec 1, Chung Shan North Road, Chung Shan District, Taipei,
Taiwan R.O.C |
Production
Information
l
Subject is a manufacturer of kinds of surfactants
with some production activities
Purchase
Information
l
The registered activities of subject:
|
1 |
Manufacture and
sales of interfacial agent, Paint raw materials, synthetic resin
and other industrial materials except poisonous and disposed products |
|
2 |
Sales of products of domestic and overseas
customers |
|
3 |
Import and export trading business of relevant
products |
|
4 |
Bidding service, price quoting service and other
service for domestic and overseas customers |
l
The components and raw materials for production are
purchased from China and abroad.
l
The subject is mainly engaged in sales of kinds of
surfactants.
l
Subject’s products are applied to industry of textiles,
home and personal care products, pesticide,
plastic and electronics, etc
l
Subject’s products are both sold in domestic and
overseas market and it is introduced that subject’s sales spreads over the
whole world.
l
Major products sold
|
|
Products |
|
1 |
Amphoteric
surfactant |
|
2 |
Cationic
surfactant |
|
3 |
Agricultural
surfactant |
|
4 |
Personal care
& household surfactant |
|
5 |
Miscellaneous |
|
6 |
Anionic
surfactant |
|
7 |
Nonionic
surfactant |
|
8 |
Textile auxiliaries |
|
9 |
Electronic
chemicals |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
etc |
COD, Credit
Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Surfactants |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Surfactants |
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 and 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.54.34 |
|
UK Pound |
1 |
Rs.86.97 |
|
Euro |
1 |
Rs.69.43 |
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.