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Report Date : |
01.04.2013 |
IDENTIFICATION DETAILS
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Name : |
BAO MING TRADING CO., LTD. |
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Registered Office : |
8F., No.168, Songjiang Road, Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
06.06.1987 |
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Com. Reg. No.: |
22463638 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of chemical products and raw materials, etc. |
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No. of Employees : |
About 200 Employees (Group) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 |
|
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
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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: |
+886-2-2521-9262 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
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Registered Name: |
Bao Ming Trading Co., Ltd. |
|
Registered Address: |
8F., No.168, Songjiang Road, Taipei, Taiwan,
R.O.C. |
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Date of Foundation: |
1987-6-6 |
|
Registration Number: |
22463638 |
|
Registry: |
Taipei City Government |
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Registered Capital: |
NTD 110,880,000
(USD 3,769,920) (As of 2013.04, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 110,880,000 (USD 3,769,920) |
|
Legal Representatives: |
Zhengdong Lin |
|
Legal Form: |
|
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Principal Activities: |
Trading of chemical
products and raw materials, etc |
|
Staff: |
|
|
Listed at Stock Exchange: |
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|
Date of Last Annual Return: |
Subject was incorporated on 1987-6-6 with registered number 22463638 as Joint Stock Company in Taiwan.
Awards
|
Year |
Awards |
|
2009 |
Blue chip importer and exporter |
|
2010 |
Blue chip importer and exporter |
|
2011 |
Blue chip importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2009 |
19,000,000 |
|
2010 |
15,000,000 |
|
2011 |
20,000,000 |
|
Name |
Subscription Shares |
|
Zhengdong Lin |
308,000 |
|
Wanmei Wu |
|
|
110,000 |
|
|
Zongxin Wu |
198,000 |
|
Bixin Zhang |
220,000 |
|
Ronghui Bai |
110,000 |
|
Huifang Lai |
88,000 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
The Beaming Co., Ltd. |
|
Address |
8F., No.168, Songjiang Road, Taipei, Taiwan,
R.O.C. |
|
2 |
|
|
Name |
Hawk Ming Transportation Company Ltd. |
|
Address |
No.122, 2nd Tz-Li Street, Wu-Chi Town, Taichung County,
Taiwan |
Related Factories
|
1 |
|
|
Name |
Hsinchu Factory |
|
Address |
No.668, Chung Hua Rd, Sec. 6. Hsinchu City, Taiwan |
|
Tel |
+886-3-537-1111 |
|
Fax |
+886-3-537-1694 |
|
2 |
|
|
Name |
Taichung Factory |
|
Address |
No.122, 2nd Tz-Li Street, Wu-Chi Town,
Taichung County, Taiwan |
|
Tel |
+886-4-2639-8163 |
|
Fax |
+886-4-2639-8148 |
|
3 |
|
|
Name |
Kaohsiung Factory |
|
Address |
No.3, Jianye Rd., Daliao Township, Kaohsiung County 831, Taiwan |
|
Tel |
+886-7-787-8676 |
|
Fax |
+886-7-787-6929 |
Core
Management
|
1 |
|
|
Name |
Zhengdong Lin |
|
Position |
Board Chairman |
|
Date of Appointment |
1997-3-5 |
|
2 |
|
|
Name |
Wanmei Wu |
|
Position |
Director |
|
3 |
|
|
Name |
Zongxin Wu |
|
Position |
Director |
|
4 |
|
|
Name |
Bixin Zhang |
|
Position |
Director |
|
5 |
|
|
Name |
Ronghui Bai |
|
Position |
Supervisor |
|
6 |
|
|
Name |
Huifang Lai |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 200
Employees (Group) |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject operates as a trading office and it does
not have production activities by itself.
l
Subject’s group has factories in Taiwan for
production and the monthly production capacity of sulfuric acid is about 30,000
MT.
l
Subject’s group factories obtained the
certification ISO 9001:2000.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
General import and export business |
|
-- |
Manufacturing and sales of chemical
products |
|
-- |
Manufacturing and sales of chemical raw
material and equipment |
|
-- |
Manufacturing, processing and sales of
electronic components |
|
-- |
Agent, price quoting, bidding service,
Import, export and marketing of all kinds of above mentioned items. |
|
F107050 |
Wholesale of fertilizer |
l
It is introduced that
subject purchases products from both home and abroad.
l
Subject is engaged in
sales of chemical products and raw materials, etc.
l
Subject’s sales regions
include Canada, USA, Puerto Rico, Colombia, Australia, Indonesia, Singapore,
Vietnam, Thailand, South Korea, South Africa, Turkey, Italy, Spain, France,
Sweden, and Holland, etc.
l
Subject’s major customers
are textile manufacturer, paper manufacturer and cleaning supplies
manufacturer, etc.
Major products
|
|
Product |
|
1 |
Sulfamic Acid |
|
2 |
Urea |
|
3 |
Aluminum Hydroxid |
|
4 |
Aluminum Sulfate |
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5 |
Oleum |
|
6 |
Sulfuric Acid |
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7 |
Sulfuric Acid |
|
8 |
Textile Photocatalyst Additives |
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9 |
Washing Powder |
|
10 |
Removal Pen |
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11 |
PTSA Chemical |
|
12 |
Floor Cleaner |
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13 |
Oxalic Acid |
|
14 |
Sodium Metasilicate |
|
15 |
Potassium Sulfate |
|
16 |
Chloride and Hypochlorite chemicals |
|
17 |
Copper Sulfate |
|
18 |
Phosphoric Acid |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Chemical products |
Interior
Settlement, COD, CBD, etc |
100% |
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Chemical products |
CBD,
etc |
100% |
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
COD, CBD, etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Chemical products |
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 cannot 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 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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.