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Report Date : |
17.11.2012 |
IDENTIFICATION DETAILS
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Name : |
SOLAR FINE CHEMICAL CO., LTD. |
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Registered Office : |
19 Fl |
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Country : |
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Date of Incorporation : |
30.03.1984 |
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Com. Reg. No.: |
09458767 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of Textile Dyes |
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No. of Employees : |
About 90 Employees |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
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Company Name: |
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Supplied Name: |
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Trading Address: |
19 Fl Formosa Bldg, 161-1 Sung Teh Rd, Hsin -I
Dist, Taipei City 110, Taiwan |
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Supplied Address: |
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Telephone Number: |
+886-2-2346-8022 |
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Fax Number: |
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E-mail: |
Note:
The supplied address is incomplete, and the exact address is as above.
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Registered Name: |
Solar Fine Chemical Co., Ltd. |
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Registered Address: |
19 Fl Formosa Bldg, 161-1 Sung Teh Rd, Hsin -I
Dist, Taipei City 110, Taiwan |
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Date of Foundation: |
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Registration Number: |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 495,373,260 (USD 16,347,317.58) (As of 2012.11, 1 NTD = 0.0330 USD) |
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Paid-up Capital: |
NTD 495,373,260 (USD 16,347,317.58) |
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Legal Representatives: |
Zhongrong Xue |
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Legal Form: |
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Principal Activities: |
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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 1984-3-30 with
registered number 09458767 as Joint Stock Company in Taiwan.
Awards
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Awards |
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2008 |
Blue chip importer and exporter |
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2009 |
Blue chip importer and exporter |
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2010 |
Blue chip importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2008 |
19,000,000 |
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2009 |
15,000,000 |
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2010 |
20,000,000 |
Shareholders
|
Name |
Subscription Shares |
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1,692,376 |
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2,431,664 |
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286,201 |
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724,955 |
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743,453 |
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504,833 |
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5,364,515 |
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1,855,406 |
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3,128,713 |
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710,014 |
Notes: The information above is that of subject’s major shareholders.
Subject introduced that it has 2 factories located in Taiwan, and in
Shanghai, the mainland of China, it also has an office. But the subject
declined to disclose more details.
Core Management
Directors
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1 |
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Name |
Zhongrong Xue |
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Position |
Board Chairman |
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2 |
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Name |
Zhong’an Xue |
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Position |
Vice-Director |
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3 |
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Name |
Shixiong Wang |
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Position |
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4 |
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Name |
Zhongcheng Xue |
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Position |
Director |
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5 |
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Name |
Xiuying Xue |
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Position |
Director |
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6 |
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Name |
Zhongjie Xue |
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Position |
Director |
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7 |
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Name |
China Development Industrial Bank Co., Ltd |
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Position |
Director |
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8 |
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Name |
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Position |
Director |
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9 |
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Name |
Fengqun Investment Holding Co., Ltd |
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Position |
Director |
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10 |
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Name |
Xinyuan Xie |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 90 Employees |
Offices & Factories
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Headquarters |
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Add |
19 Fl Formosa
Bldg, 161-1 Sung Teh Rd, Hsin -I Dist, Taipei City 110, Taiwan |
Production Information
Annual production is 7,500 tons.
The subject produces reactive dyes, leather dyes, disperse dyes.
Super direct dyes and acid dyes, etc.
The subject produces in Taiwan.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacturing and trading of reactive dyes, leather dyes, disperse
dyes. Super direct dyes and acid dyes, etc. |
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2 |
Import and export of the products above. |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The raw material for production is mostly purchased from domestic
markets.
The subject is mainly engaged in
manufacturing and trading of textile dyes and the related products.
Subject introduced that its Major products sold as following:
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Product |
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1 |
Reactive Supra Dyes |
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2 |
Reactive VS Dyes |
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3 |
Reactive KB Dyes |
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4 |
Reactive HW Dyes |
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5 |
Reactive RGB Dyes |
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6 |
Reactive HE Dyes |
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7 |
Reactive Pringing Dyes |
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8 |
Supra Direct Dyes |
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9 |
Leather Dyes |
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10 |
Acid Dyes |
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11 |
Disperse Dyes |
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12 |
Cationic/Basic Dyes |
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13 |
O.B.A. |
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14 |
Others |
The subject has over 200 customers all over the world.
The subject sells products in American, European, Asian, Middle-Eastern
and as well as African Markets.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase (Taiwan and Mainland, China)
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Payment Terms |
Proportion |
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Raw material |
COD, etc |
100 |
Foreign Purchase
Sales
Domestic Markets (Taiwan)
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Sales Terms |
Proportion |
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CBD, etc |
100% |
Export
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Sales Terms |
Proportion |
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Dyes |
CBD, etc |
100% |
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Sales |
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2010 |
About USD 30,000,000 |
Notes: We obtain the information of subject from public
files which is not confirmed by subject.
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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. Dai |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.99 |
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|
1 |
Rs.87.21 |
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Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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 |
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<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.