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Report Date : |
13.09.2012 |
IDENTIFICATION DETAILS
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Name : |
UNITED RAW MATERIAL SOLUTIONS INC. |
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Registered Office : |
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Country : |
Taiwan |
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Date of Incorporation : |
17.11.2003 |
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Com. Reg. No.: |
80542219 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Supplying of the plastic and petrochemical raw materials |
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No. of Employees : |
About 60 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Taiwan |
A2 |
A2 |
|
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: |
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Fax Number: |
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E-mail: |
Notes:
The supplied address is incomplete, and the exact address is as above.
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Credit Opinion: |
Subject was incorporated on
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Subscription Number |
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Jinglun Lin |
4,634,238 |
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Jingzhe Lin |
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422,672 |
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Jingyuan Lin |
359,721 |
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Qianhui Lin |
479,629 |
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Yixiong Lin |
1,648 |
The information above is that of subject’s major shareholders.
Related Company
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Name |
Formosa
Group |
|
Address: |
Taiwan,
R.O.C |
Core Management
|
1 |
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Name |
Jinglun
Lin |
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Position |
Board
Chairman |
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2 |
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Name |
Jingzhe
Lin |
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Position |
Director |
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3 |
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Name |
Jingyuan
Lin |
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Position |
Director |
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4 |
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Name |
Qianhui
Lin |
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Position |
Supervisor |
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5 |
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Name |
Yixiong
Lin |
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Position |
Supervisor |
Personnel Structure
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Total
Employees |
About 60
Employees |
Offices & Factories
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|
Headquarters |
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Add |
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Production Information
l
Subject is
a supplier of the plastic and
petrochemical raw materials.
Purchase Information
l
The
registered activities of subject:
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Business
Code |
Details |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
The
components and raw material for production are mostly purchased from abroad.
l
Subject
is mainly involved in supplying of plastic
and petrochemical raw materials and so on.
l
Subject
introduced that its major products sold as following:
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Product |
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1 |
PDraw Textured Yarn (DTY) |
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2 |
Gas pipe / Potable water pipe / Sewer &
drain pipe / Chemical pipe / Cable conduct |
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3 |
BPA –Polycarbonate Grade |
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4 |
Electronic Components- DRAM |
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5 |
Electronic Raw Materials- Recycled Si Wafer
For Solar Cells |
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6 |
Others |
l
Subject
introduced that its products are mainly from Formosa Group, and subject
introduced that it also supplies other brands products from Taiwan
l
Subject’s
selling territory covers Asia, Europe, U.S.A and so on.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Subject declined to disclose the settlements information, and from other sources, we couldn’t obtain the information, either.
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. Shen declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
The bankers’
information is not available from the subject or other sources.
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. Du |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.26 |
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UK Pound |
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.71.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.