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Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
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Name : |
Ever Sing Company Ltd. |
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Registered Office : |
2F, |
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Country : |
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Date of Incorporation : |
09.10.1973 |
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Com. Reg. No.: |
69272815 |
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Legal Form : |
Joint Stock
Company |
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Line of Business : |
Import and sales
of agricultural, chemicals, etc |
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No. of Employees : |
Over 10 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
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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: |
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Supplied Address: |
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Telephone Number: |
+886-6-266-7215-7 |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
Ever
Sing Company Ltd. |
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Registered Address: |
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Date of Foundation: |
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Registration Number: |
69272815 |
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Registry: |
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Registered Capital: |
(As of 2012.11, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 20,000,000 (USD 678,000) |
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Legal Representatives: |
Jiaxian Ye |
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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: |
Notes: Subject did not introduce
its staff number and the staff number above is estimated for reference
Subject was incorporated on
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Name |
Subscription Shares |
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Jiaxian Ye |
550 |
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Shihuang Ye |
400 |
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Zilan Ye |
325 |
The information above is that of subject’s major shareholders.
Related Companies
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1 |
Perfect Sing Co., Ltd |
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2 |
Top Sing Co., Ltd |
Directors
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1 |
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Name |
Jiaxian Ye |
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Position |
Board Chairman |
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2 |
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Name |
Shihuang Ye |
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Position |
Director |
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3 |
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Name |
Zhongda Ye Hsin Te Co., Ltd (Literal Translated) |
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Position |
Director |
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4 |
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Name |
Zilan Ye |
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Position |
Supervisor |
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5 |
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Name |
Xiumei Chen |
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Position |
Manager |
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Date of
Appointment |
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6 |
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Name |
Kuanli Deng |
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Position |
Manager |
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Date of
Appointment |
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Offices & Factories
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Headquarters |
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Add |
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Production
Information
l
Subject
is a trader of agricultural chemicals without any production activities
Purchase
Information
l
The registered activities of subject:
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1 |
Sales of chemical materials,
feed, fertilizer, western medicine and veterinary drugs |
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2 |
Sales, import and export of pesticide and ubricating
oil |
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3 |
Agent sales and marketing for domestic and overseas
customers |
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4 |
Import and export business of the above mentioned
items |
l
Subject purchases mainly
abroad and it is introduced that subject has over 50 suppliers in more than 30
countries such as USA, The Netherlands, Belgium, Canada and Israel, etc
l
Subject is the agent of LOVOCHEMIE, DCM,
FERM-O-FEED, HAIFA, PLANTPROD, MEMON and SIMONIS.
Sales Information
l
The subject is mainly engaged in sales of
agriculture resource (pesticide, fertilizer and water feed), etc
l
Subject’s products are mainly sold in domestic
market and it is introduced that subject has warehouse occupied over 50,000
square meters on the trading address for keeping the inventories.
Major products
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Insecticide |
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Insecticide and miticides |
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Acephate 75% SP |
Fenvalerate 20% EC |
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Alpha-Cypermethrin 3%EC |
Imidacloprid 9.6% SL |
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Amitraz 20% EC |
Lambda-Cyhalothrin 2.8% EC |
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Azinphos methyl 25% WP / 20%EC |
Malathion 50% WP/ 50% EC |
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Bacillus Thuringiensis WP 16000 IU/mg |
Metaldehyde 6% B (pellet) |
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Bromopropylate 25% EC |
Methamidophos 50% S |
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Carbaryl 85% WP |
Methomyl 24% S |
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Chlorpyrifos 40.8% EC |
Methyl parathion 50% EC |
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Cypermethrin 5% EC |
Monocrotophos 55% S |
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Deltamethirn 2.8% EC / 2.4% SC |
Permethrin 10% EC |
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Demeton –S-methyl 25% EC |
Phosmet 50% WP |
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Dimethoate 44% EC |
Profenofos 43% EC |
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Ethion 46.5% EC |
Summer oil 95% EC |
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Fenitrothion 50% EC |
Trichlorfon 80% SP / 99%Tech |
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Fungicides |
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Benomyl 50% WP |
Maneb 80% WP |
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Calcium methyl arsenic acid (MAC) 8% WP |
Maneb + Copper sulphate 82% WP |
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Carbendazim 50% WP |
Oxin copper 40% WP |
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Chlorothalonil 75% WP |
Sulfur 80% WP / 52% SC |
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Copper oxychloride 85% WP / 97% Tech |
Thiophanate methyl 70% WP |
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Mancozeb 80% WP |
Zineb 80% WP / 85% Tech |
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Hexaconazole 5% SC |
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Herbicides & Plant Growth Regulator |
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2,4-D Sodium salt 80% SP |
Atrazine 50% WP |
Paraquat 24% S |
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Alachlor 45.1% EC |
Dalapon 85% SP |
Glyphosate 41% S |
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Ametryn 80% WP |
Diuron 80% WP |
IBA 0.4% S/ 0.4% DP |
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Fish Pond Chemicals |
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Benzalkonium chloride 50-80% |
Copper acetate |
Zeolite |
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Potassium bichromate |
Dolomite |
Iodine |
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Potassium permanganate 99% |
Malachite green |
Methylene blue |
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Copper sulphate 99% |
Amino acid |
Algaecide |
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Fertilizer |
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Organic Fertilizer |
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Amino acid + NPK (liquid/power) |
Coir Peat |
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Amino acid (Liquid pellets) |
Organic |
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Peat Mix |
Organic Mix |
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Peat Moss |
Organic |
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Organic Kitchen Garden Fertilixer |
Organic fertilizer |
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Organic Natural fertilizer |
Organic fertilizer |
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Organic |
Organiomineral |
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Organic |
Organix |
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Organic |
Fish Extract Liquid + NPK |
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Seaweed extrat Podwer / Liquid |
Organic |
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Humic acid Potassium Powder 85% /Liquid
12%, 15%,18% |
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Poulatry manure (G) |
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NPK Compounds (Granular) |
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0-15-30 |
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0-16-24 + 19CaO + 5 MgO +11.5 S |
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0-20-30 |
20-20-15 |
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16-16-16 |
23-23-0 |
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17-17-17 |
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13-30-12 |
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15-15-15 +4 MgO |
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16-42-5 |
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15-15-15 |
15-0-14 + 18 Na |
13-13-21+2 MgO |
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Soluble Powder (NPK+TE) |
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0-52-34 |
14-0-46 + TE |
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12-61-0 |
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28-14-14 + TE |
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20-52-0 |
15-15-30 + TE |
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15-30-15 + TE |
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9-45-15 + TE |
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10-52-10 + TE |
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0-0-30 + 10 MgO + 19 S |
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12-0-44 + TE |
20-20-20 + TE |
Chelated Iron 13.2% + TE |
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0-60-20 + TE |
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Slow Release (Coated Pill) |
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Multicote 12-0-43 + TE |
Multicote 17-17-17 + TE |
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Multicote |
Multicote |
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Chemical Fertilizer |
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Agribor (14% B) |
Guano (25P + 30 Ca) |
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B G Fertilizer |
Calcium Ammonium Nitrate |
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Diammonium Phosphate DAP 18-46-0 |
Calcium Nitrate 15.5% N |
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Monoammonium Phosphate MAP 12-52-0 |
Calcium Carbonate CaCO3 |
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Monopotassium Phophate 0-52-34 |
Calcium Cyanamide CaCN2 |
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Magnesium sulphate MgSO4 (Epsom 16) |
Dolomite (32Ca + 25 Mg) |
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Potassium Nitrate with Phosphate ( |
Fused Magnesium Phosphate |
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Potassium Nitrate KNO3 (13-0-46) |
Magnesium Nitrate |
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Blender’s Balance Granular Micronutrients |
TSP 0-46-25 CaO |
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Blender’s Plus Granular Micronutrients |
12-0-4% MgO KNO3 + MgO |
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Nitromag 22N + 7 Mg +21% CaO |
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Liquids |
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Ca 16% + TE |
Calcium + Boron |
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Boroliq (10% B) |
Foliar Emulsion NPK |
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15-0-0 + 15 CaO |
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10-0-10 + 10 CaO |
20-20-8 +1.7% MgO + 26% Seaweed extra |
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20-20-20 +1.3% MgO + 24% Seaweed extra |
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24-24-18 + 1.5% MgO |
Mix Micronutrients |
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10-40-20 + 1.5% MgO |
Mix Trace elements |
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NPK |
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NPK |
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Liquid Phosphate with Magnesium and Potash
0-29-5 + 6% MgO |
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Liquid Phosphate with Zinc and Potash
0-28.5-5 + 9.3% Zn |
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Import and export
right:
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Import
right |
Yes |
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Export
right |
Yes |
Purchase
Subject has little domestic purchase
Foreign Purchase
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Payment
Terms |
Proportion |
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Chemicals |
CBD,
etc |
100% |
Sales
Domestic Markets
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Sales Terms |
Proportion |
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Chemicals |
COD, CBD, etc |
100% |
Export
Subject has little
exports
Subject has no obligations to disclose its financial
statements to the third party according to the relevant policy in
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; from other source we can not obtain the relevant information, either. Thus we can not confirm the supplies banker Chang Hwa Commercial bank Ltd. Tainan Branch.
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.
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Department |
Sales department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.34 |
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1 |
Rs.88.30 |
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Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
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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.