|
Report Date : |
01.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
IMPERIAL CHEMICAL CORPORATION |
|
|
|
|
Registered Office : |
No.3, Hsing Kung Rd., Dashe Dist., Kaohsiung City 815 |
|
|
|
|
Country : |
Taiwan |
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|
|
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Date of Incorporation : |
24.07.1992 |
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|
|
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Com. Reg. No.: |
86802541 |
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|
|
|
Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
Manufacture and sales of specialty chemicals |
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|
|
|
No. of Employees : |
About 70 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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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: |
No.3, Hsing Kung Rd., Dashe Dist., Kaohsiung City
815, Taiwan (R.O.C.) |
|
Supplied Address: |
No. 3 Hsing Kung Road Ta-She
District Kaohsiung Taiwan |
|
Telephone Number: |
+886-7-351-3724 |
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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 |
|
Guang Tai Investment Co., Ltd (Literal Translation) |
4,650,000 |
|
Jia Li Investment Co., Ltd (Literal
Translation) |
|
|
7,480,000 |
|
|
Sheng Xing Investment Co., Ltd (Literal Translation) |
20,000 |
|
Shang Shun Investment Co., Ltd (Literal Translation) |
1,500,000 |
|
Da San Investment Co., Ltd (Literal Translation) |
3,000,000 |
|
Jinn Wei Engineering
& Construction Co., Ltd |
4,500,000 |
|
Jia Xin Investment
Co., Ltd (Literal Translation) |
2,400,000 |
The information above
is that of subject’s major shareholders.
Core
Management
Directors
|
1 |
|
|
Name |
Mingshan Jian |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Shufang Gu |
|
Position |
Director |
|
3 |
|
|
Name |
Kunsong Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Wensheng Wang |
|
Position |
Director |
|
5 |
|
|
Name |
Weizhong Ye |
|
Position |
Director |
|
6 |
|
|
Name |
Kunlun Zhou |
|
Position |
Director |
|
7 |
|
|
Name |
Shanwen Shi |
|
Position |
Director |
|
8 |
|
|
Name |
Xianjun Zhou |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 70 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.3, Hsing Kung Rd., Dashe
Dist., Kaohsiung City 815, Taiwan (R.O.C.) |
Production
Information
l
Subject is a manufacture of specialty chemicals and
it is introduced that subject has obtained the certification of ISO 9002, ISO
14001.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Basic chemical industry |
|
C801990 |
Manufacture of other chemical materials |
|
C802170 |
Manufacture of toxic chemicals in |
|
F113010 |
Wholesales of machinery |
|
F213080 |
Retails of Machinery and Equipment. |
|
F107060 |
Wholesales of toxic chemicals in |
|
F107110 |
Wholesales of petrochemical materials |
|
F119010 |
Wholesales of electronic materials |
|
F401010 |
International trading business |
|
E301010 |
Water treatment engineering |
|
J101990 |
prevention and controlling services of other environmental
pollution |
l
Subject did not introduce its purchasing
information
l
The subject is mainly engaged in sales of specialty
chemicals
l
Subject’s products are applied to the industry of
agriculture, mining, metallurgy, medical, pharmaceutical, cosmetics,
electroplating, polymers, etc
l
Subject’s products are both sold in domestic market
and it is introduced that subject’s sales business spreads over 30 countries
around the world.
Major products
sold
|
1 |
Acetonitrile |
|
2 |
E.D.T.A |
|
3 |
Sodium Cyanide |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Subject did not introduce its purchasing terms.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Specialty Chemicals |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Specialty Chemicals |
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’s relevant staff Ms. Wu 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.
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. Wu |
|
Department |
Sales department |
|
E-mail: |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.72 |
|
UK Pound |
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.66 |
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.