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Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ABLE ADVANCED CHEMICALS COMPANY LTD. |
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Registered Office : |
1f, No.1, Lane 109, Kanghwa St |
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Country : |
Taiwan |
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Date of Incorporation : |
19.07.1997 |
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Com. Reg. No.: |
16135834 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of dyes and etc. |
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No. of Employees : |
About 35 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 |
|
Off-credit |
D |
taiwan ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy
with gradually decreasing government guidance of investment and foreign trade.
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 1.8%, due primarily to a 13.1% year-on-year decline in exports. In
2010 GDP grew 10.7%, as exports returned to the level of previous years, and in
2011, grew 4.1%. In 2012, however, growth fell to 1.3%, 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 except for the
landmark Economic Cooperation Framework Agreement (ECFA) signed with China in
June 2010, so far Taiwan has been excluded from this greater economic
integration in part because of its diplomatic status. Negotiations continue on
such follow-on components of ECFA regarding trade in goods and services. The MA
administration has said that the ECFA will serve as a stepping stone toward
trade pacts with other key trade partners, which Taiwan subsequently launched
with Singapore and New Zealand. 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 11.2% of the island's total population as of 2012. The island runs a large
trade surplus largely because of its surplus with China, and its foreign
reserves are the world's fifth largest, behind China, Japan, Saudi Arabia, and
Russia. In 2006 China overtook 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. In August 2012, Taiwan Central Bank signed
a memorandum of understanding on cross-Strait currency settlement with its
Chinese counterpart. The MOU allows for the direct settlement of Chinese RMB
and the New Taiwan dollar across the Strait, which could help develop Taiwan
into a local RMB hub. 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: |
3F., No. 572 MingShen N. Rd., Sec. 1, GueiShan Shiang, Taoyuan, Taiwan |
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Supplied Address: |
3FL 572 Minsheng NorthRd Section 1 Kueishan
Hsiang Taoyuan Hsien 332 Taiwan |
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Telephone Number: |
+886-3-352-9566 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated on 1997-7-19 with registered number 16135834 as Joint Stock Company in Taiwan.
Change of Name
|
Former Chinese Name |
文擘科技有限公司 |
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Current Chinese Name |
文擘科技股份有限公司 |
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Name |
Subscription Shares |
|
Wenju Su |
1,560,000 |
|
Yangren Chen |
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|
520,000 |
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|
Yuexia Su |
260,000 |
|
Xiulan Su |
260,000 |
The information above is that of subject’s major shareholders.
Offices
|
1 |
|
|
Name |
Shanghai Office |
|
Address |
E, 28F., Liyi House
ZhongShan Square, No. 977 HongQiao Rd., Chang Ning District, Shanghai, China
200051 |
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Telephone Number |
+86-21-6208-6691 |
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Fax Number |
+86-21-6209-4326 |
|
2 |
|
|
Name |
South China
Office |
|
Address |
Room 1001, WeiHao
Building, HeYang Rd., HeTian District, Hou Jie Township, Dong Suan City,
Guang Dong Province, China |
|
Telephone Number |
+86-769-8524-6501 |
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Fax Number |
+86-769-8161-1033 |
Core
Management
|
1 |
|
|
Name |
Wenju Su |
|
Position |
Board Chairman |
|
2 |
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|
Name |
Yangren Chen |
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Position |
Director |
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3 |
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Name |
Yuexia Su |
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Position |
Director |
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4 |
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|
Name |
Xiulan Su |
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Position |
Supervisor |
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Total Employees |
About 35 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
3F., No. 572 MingShen N. Rd., Sec. 1, GueiShan Shiang, Taoyuan, Taiwan |
Production
Information
l
The subject is a manufacturer of dyes and etc.
l
It is introduced that
subject has three factories in Taiwan, India and Thailand for production. But
we cannot obtain the detailed information of subject’s factories from public
files.
l
It is introduced that the
annual capacity
of subject’s factory is over 1,500 tons.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Development and trading of chemical materials for
dyes, textiles and dyeing auxiliaries. |
|
-- |
Trading of dyes and pigments. |
|
-- |
Trading business of import and export for above
products. |
|
C801030 |
Manufacturing of fine chemicals. |
|
C802150 |
Manufacturing of dyes and pigments. |
l
It is introduced that subject purchases raw materials
and etc both in domestic and overseas market.
l
The subject is mainly engaged in sales of dyes 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 manufacturers of textiles, leatherware,
metal products and etc.
l
It is introduced that
subject’s products are applied to textiles, leatherware, electronics, covering
of metal and etc.
Major Products
|
1 |
Dyes for leather |
|
2 |
Dyes for double face |
|
3 |
Dyes for textile |
|
4 |
Metal complex dyes |
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5 |
Dyes for nylon/wool |
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6 |
Dye for nylon |
|
7 |
Dyes for Aluminum Alloy |
|
8 |
Biochip |
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials
and etc |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
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Raw materials
and etc |
CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
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|
Dyes and etc. |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
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Raw materials
and etc |
CBD and 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. Guan declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name |
Shanghai Commercial And Savings Bank Ltd |
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. Guan |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.17 |
|
UK Pound |
1 |
Rs.82.99 |
|
Euro |
1 |
Rs.70.62 |
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 |
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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 |
|
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 |
|
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 |
|
<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.