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Report Date : |
29.09.2012 |
IDENTIFICATION DETAILS
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Name : |
POLYCHEM GLOBAL CORPORATION |
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Registered Office : |
11f.-11,No.6,Lane 180,Sec. 6,Mincyuan E. Rd., Neihu District, Taipei City 114 |
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Country : |
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Date of Incorporation : |
03.08.2005 |
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Com. Reg. No.: |
22359190 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Distribution of engineering plastics, general plastics, chemicals and additive materials. |
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No. of Employees : |
Not Available |
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 – 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 |
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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: |
Room 11, |
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Supplied Address: |
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Telephone Number: |
+886-2-27900700 |
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Fax Number: |
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E-mail: |
Note:
The supplied name and address are incomplete, and the exact name and
address are as above.
|
Credit Opinion: |
Subject declined to
disclose the staff number, and from other sources, we couldn’t obtain the
information, either.
Subject was incorporated on
|
Name |
Subscription Shares |
|
Wenqin He |
280,000 |
|
Ruican jiang |
110,000 |
|
Yanrao Guo |
55,000 |
|
Taomei Liu |
55,000 |
The information
above is that of subject’s major shareholders.
|
1 |
|
|
Name |
Room A-204,Shang-Mira
Commercial Centre, No. 2633 West YanAn Rd., Shanghai, China |
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Tel: |
+86
021-5187-2700 021-6226-1197 021-6226-1351 021-6252-8382 |
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Fax: |
+86
021-6212-2389 |
|
2 |
|
|
Name |
Room 615, Unit 4,
No. 7 Chengshihuayuan, No. 266, Dongcheng W. Rd., Dongguan, China |
|
Tel: |
+86
0769-2238-0762 |
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Fax: |
+86
0769-2238-0763 |
|
3 |
|
|
Name |
Room 212, Donghuan Building, No. 328, Donghuan
Rd., Suzhou, China |
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Tel: |
+86
0512-6712-6875 |
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Fax: |
+86 0512-6712-6879 |
|
4 |
|
|
Name |
Room 9-B5,
Xinjinsui Building, No. 138 Jiefang N. Road, Ningbo, China |
|
Tel: |
+86
0574-8768-7516 |
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Fax: |
+86
0574-8768-7517 |
Core
Management
|
1 |
|
|
Name |
Wenqin He |
|
Position |
Chairman |
|
2 |
|
|
Name |
Ruican jiang |
|
Position |
Director |
|
3 |
|
|
Name |
Yanrao Guo |
|
Position |
Director |
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4 |
|
|
Name |
Taomei Liu |
|
Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Add |
Room 11, |
Production
Information
l
Subject is a distributor of engineering plastics,
general plastics, chemicals and additive materials without any production
activities
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F113010 |
Wholesale of machinery |
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F113030 |
Wholesale of precious equipment |
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F213040 |
Retail of machinery |
|
F213080 |
Retail of precious equipment |
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F401010 |
International trade |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The productions are mostly purchased from abroad.
l
The subject is mainly engaged in trading of engineering plastics, general plastics,
chemicals and additive materials and the related products.
l
Subject introduced that
it distributes many brands, such as Nan Ya, TCC, FPC,
LCY (TPP), and so on.
l
Subject introduced that
it imports the products from Taiwan, China, South Korea, Japan, Iran and the
Middle East countries.
l
Subject introduce that
its major products include Engineering plastics, General purpose plastics,
Chemicals and additive and so on.
l
Subject’s selling
territory covers all over the world.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Product |
Payment Terms |
Proportion |
|
Engineering plastics,
general plastics, chemicals and additive materials |
CBD, etc. |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Engineering plastics,
general plastics, chemicals and additive materials |
T.T, L/C etc. |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Engineering plastics, general
plastics, chemicals and additive materials |
CBD, etc. |
100% |
Export
|
Product |
Payment Terms |
Proportion |
|
Engineering plastics,
general plastics, chemicals and additive materials |
T.T, L/C 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 Mr. Guo declined to disclose its financials
citing the grounds of company’s confidentiality; 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 |
Mr. Guo |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.69 |
|
|
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.68.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
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.