|
Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALLIED INDUSTRIAL CORP., LTD. |
|
|
|
|
Registered Office : |
12FL., No.76, Sec.2, Tun Hua S. Rd., Daan Dist., Taipei 106 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
09.01.1964 |
|
|
|
|
Com. Reg. No.: |
11121403 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of chemicals, chemical products
and etc. |
|
|
|
|
No. of Employees : |
About 50 Employees
(Office) |
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 : |
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 sales. 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: |
|
|
Supplied Name: |
|
|
Trading Address: |
12FL., No.76,
Sec.2, Tun Hua S. Rd., Daan Dist., Taipei 106, Taiwan, R.O.C. |
|
Supplied Address: |
12F., #76, Section 2,
Tun hwa South Road, Ta-An District, Taipei City |
|
Telephone Number: |
+886-2-2703-8496 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as above.
|
Registered Name: |
Allied Industrial Corp., Ltd. |
|
Registered Address: |
12FL., No.76, Sec.2, Tun Hua S. Rd., Daan
Dist., Taipei 106, Taiwan, R.O.C. |
|
Date of Foundation: |
|
|
Registration Number: |
|
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
NTD 3,800,000,000 (USD 127,300,000) (As of 2013.4, 1 NTD = 0.0335 USD) |
|
|
Paid-up Capital: |
NTD 3,800,000,000 (USD 127,300,000) |
|
Legal Representatives: |
Yuanqi Zhao |
|
Legal Form: |
|
|
Principal Activities: |
Manufacturing
and sales of chemicals, chemical products and etc. |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1964-1-9 with registered number 11121403 as Joint Stock Company in Taiwan.
The subject was listed on Taiwan exchange with the Symbol: 4702.
|
Name |
Subscription
Shares |
|
Jianhong Investment Limited (Liberal
translated) |
1,000 |
|
Golden Eagle Co Ltd |
76,851,000 |
|
Fuyou Investment Limited (Liberal
translated) |
1,000 |
|
386,118 |
The information above is that of subject’s major shareholders.
Subsidiary
Companies
|
Name |
Yuanxing Developing Limited |
|
Date of Registration |
1997-10-4 |
|
Registered Address |
12th Floor, No. 76, Sec 2, Dunhua Nan Road, Daan District,
Taipei City |
|
Registered Capital: |
NTD 70,000,000 (USD 2,345,000) (As of 2013.4, 1 NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 70,000,000 (USD 2,345,000)) |
|
Legal Form: |
Joint Stock Company |
|
Management |
Lvjie Wang |
|
The registered activities: |
|
|
Business Code |
Details |
|
H701010 |
|
|
H701020 |
Renting of industrial factory building. |
|
H701050 |
Investment and building public construction. |
|
H701060 |
Development of new town and new communities. |
|
H703100 |
Renting house. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Related Companies
|
1 |
|
|
Name |
Jianhong Investment Limited (Liberal translated) |
|
Date of Registration |
1999-8-21 |
|
Registered Address |
5th Floor, Sec 1, Dunhua Nan Road, Daan District, Taipei
City |
|
Registered Capital: |
NTD 5,000,000 (USD 167,500) (As of 2013.4, 1 NTD = 0.0335 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
Management |
Lianjun Liu |
|
The registered activities: |
|
|
Business Code |
Details |
|
H201010 |
General investment. |
|
2 |
|
|
Name |
Fuyou Investment Limited (Liberal translated) |
|
Date of Registration |
2005-10-24 |
|
Registered Address |
3rd Floor, No. 76, Sec 2, Dunhua Nan Road, Daan District,
Taipei City |
|
Registered Capital: |
NTD 34,950,000 (USD 1,170,825) (As of 2013.4, 1 NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 34,950,000 (USD 1,170,825) |
|
Management |
Lvjie Wang |
|
The registered activities: |
|
|
Business Code |
Details |
|
H201010 |
General investment. |
|
3 |
|
|
Name |
Bluesign Technologies Ag |
|
Address |
EMPA Building Lerchenfeldstrasse 5, 9014 St.Gallen Switzerland |
|
Telephone |
+41-71-272 -2990 |
|
Fax |
+41-71-272-2999 |
|
E-mail |
|
|
4 |
|
|
Name |
Bluesign Technologies Germany Gmbh |
|
Address |
Am Mittleren Moos 48 D-86167 Augsburg Germany |
|
Telephone |
+49-821-747-7544 |
|
Fax |
+49-821-747-7545 |
|
5 |
|
|
Name |
Bluesign Technologies China Limited |
|
Address |
Metropole Square, Room 901, No 2, On Yiu Street, Siu Lek Yuen, Shatin,
N.T., Hong Kong |
|
Telephone |
+852-2204-8328 |
|
Fax |
+852-2637-0020 |
Core
Management
|
1 |
|
|
Name |
Yuanqi Zhao |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zhaoming Zheng |
|
Position |
|
|
3 |
|
|
Name |
Renkun Lei |
|
Position |
|
|
4 |
|
|
Name |
Lvjie Wang |
|
Position |
|
|
5 |
|
|
Name |
Zhizhong Xiang |
|
Position |
Director |
|
6 |
|
|
Name |
Zhengdong lv |
|
Position |
|
|
7 |
|
|
Name |
Yiyan Lu |
|
Position |
Supervisor |
|
Total Employees |
About 50 Employees (Office) |
Offices
& Factories
|
|
Headquarters |
|
Add |
12FL., No.76, Sec.2, Tun Hua S. Rd., Daan
Dist., Taipei 106, Taiwan, R.O.C. |
Production
Information
l
The subject is a manufacturer of chemicals, chemical products and etc.
l
It is introduced that
subject has a factory in Ji Long, Taiwan for production.
l
It is introduced that
subject has obtained ISO 9001, ISO 9002 and ISO14001 certifications.
Purchase
Information
l
The registered
activities of subject:
|
Business Code |
Details |
|
C199990 |
Manufacturing of other undivided food. |
|
C802200 |
Manufacturing of covering,
painting, dyes. |
|
F101050 |
Wholesales of aquatic products. |
|
F103010 |
Wholesales of forages. |
|
F107010 |
Wholesales of lacquer and
covering. |
|
F107020 |
Wholesales of painting and
dyes. |
|
F107030 |
Wholesales of cleaning supplies |
|
F107050 |
Wholesales of fertilizers. |
|
F107080 |
Wholesales of environmental
agents. |
|
F107170 |
Wholesales of industrial
additives. |
|
F107190 |
Wholesales of plastic films
and plastic bags. |
|
F107200 |
Wholesales of chemical
materials. |
|
F108031 |
Wholesales of medical
appliances. |
|
F108040 |
Wholesales of cosmetics. |
|
F113010 |
Wholesales of machinery. |
|
F113070 |
Wholesales of telecommunication equipment. |
|
F208040 |
Retails of cosmetics. |
|
F401010 |
International trading business. |
|
H703100 |
Renting house. |
|
F101100 |
Wholesales of flowers. |
|
F101130 |
Wholesales of vegetables and
fruits. |
|
F102030 |
Wholesales of tobacco and
alcohol. |
|
F102050 |
Wholesales of tea. |
|
F203020 |
Retails of tobacco and alcohol. |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
It is introduced that subject purchases raw
materials and etc both in domestic and overseas market.
l
The subject is engaged in sales of chemicals, chemical products and etc.
l
It is introduced that
subject’s major products include dyes, pigments, auxiliaries, agents and etc.
l
It is introduced that
subject’s selling territory covers all over the world.
l
It is introduced that
subject’s major customers are manufactures of textiles and etc.
l
It is introduced that
subject’s products are applied to textiles, garments and etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials and etc |
COD,
CBD and etc |
100% |
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials and etc |
CBD
and etc |
100% |
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Chemicals, chemical products and etc. |
COD,
CBD and etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Chemicals, chemical products and etc. |
CBD
and etc |
100% |
(As of 2013.4, 1 NTD =
0.0335 USD)
Unit: NTD/000
|
|
2011 |
2012 |
|
Sales |
488,020,000.00 (USD 16,348,670,000) |
501,187,000.00 (USD 16,789,764,500) |
|
Operating Cost |
470,878,000.00 |
422,103,000.00 |
|
Operating net income (loss) |
17,142,000.00 |
79,084,000.00 |
|
Operating expenses |
132,706,000.00 |
118,134,000.00 |
|
Operating income (loss) |
-115,498,000.00 |
-38,830,000.00 |
|
Non-Operating Income |
10,740,000.00 |
35,946,000.00 |
|
Non-operating sales and gains |
136,068,000.00 |
12,435,000.00 |
|
Income tax expense (benefit) |
502,000.00 |
11,000.00 |
|
Net profit (loss) before tax |
-240,826,000.00 |
-15,319,000.00 |
|
Income from continuing operations before
income tax |
-241,328,000.00 |
-15,330,000.00 |
|
Extraordinary profit and loss |
-- |
-- |
|
Cumulative effect of accounting change |
-- |
-- |
|
Net income |
-241,328,000.00 (USD -8,084,488,000) |
-15,330,000.00 (USD -513,555,000) |
|
Adjustments to Reconcile Net Income to Net
Cash Provided by (Used in) Operating Activities |
66,000.00 |
220,000.00 |
|
Minority Interest Income |
-- |
--. |
|
Earnings per Share |
-4.00 |
--. |
|
Unrealized gain from inter-affiliate
accounts. |
413,000.00 |
193,000.00 |
|
Realized gain from inter-affiliate
accounts. |
|
|
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 |
Mr. Wu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.05 |
|
Euro |
1 |
Rs.69.59 |
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.