|
Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
TAI CHIN CHEMICAL INDUSTRY CO., LTD. |
|
|
|
|
Registered Office : |
No.402, Feng Jen Rd., Renwu Dist., Kaohsiung
City 814 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
28.05.1973 |
|
|
|
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Com. Reg. No.: |
83387845 |
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|
|
|
Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Manufacturing and sale of chemical products |
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|
|
|
No. of Employees : |
About 80 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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. 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 4.0%. 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 revenues. 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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.402, Feng Jen
Rd., Renwu Dist., Kaohsiung City 814, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-7-371-1621 |
|
Fax Number: |
|
|
E-mail: |
Notes: Subject’s exact name and address are as
above.
Subject was incorporated
on 1973-5-28 with registered number 83387845
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Ukima Chemicals & Color Mfg. Co., Ltd., |
1,823,022 |
|
Takahashi Co., Ltd. |
|
|
1,475,781 |
|
|
Guangming Xie |
68,799 |
|
Dospel Co., Ltd (Literal Translation) |
1,215,347 |
|
Dainichiseika Color & Chemicals Mfg. Co., Ltd |
2,083,473 |
|
Jingwei Deng |
459,300 |
|
Mengdan Lin |
238,073 |
|
Huixiang Lu |
100,107 |
|
Mengyang Lin |
917,032 |
|
Jia Xin Investment Co., Ltd. (Literal Translation) |
693,554 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No.402, Feng Jen Rd., Renwu Dist., Kaohsiung
City 814, Taiwan (R.O.C.) |
|
Date of Foundation: |
1990-12-31 |
|
Factory Registration Number: |
99662885 |
|
Factory Manager: |
Shengyan Wang |
|
Status: |
In Production |
Related Companies
|
1 |
|
|
Name: |
Dainichiseika Color & Chemicals Mfg. Co., Ltd |
|
Address: |
1-7-6, Nihonbashi-Bakurocho, Chuo-Ku, Tokyo 103-8383, Japan |
|
Telephone Number: |
+81-3-3662-7111 |
|
Date of Foundation: |
October, 1931 |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: TSE: 4116 |
|
2 |
|
|
Name: |
Jia Xin Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
5th Floor-4, No.218, Zhongzheng 2ND Road, Kaohsiung City,
Taiwan, R.O.C. |
|
Date of Foundation: |
1989-3-3 |
|
Registration Number: |
23223263 |
|
Registry: |
Economic Development Board of Kaohsiung City Government |
|
Registered Capital: |
NTD 50,000,000 (USD 1,700,000) (As of 2013.08, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 50,000,000 (USD 1,700,000) |
|
Legal Representatives: |
Meijin Liaodeng |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-7-11 |
Core Management
Directors
|
1 |
|
|
Name |
Shengyan Wang |
|
Position |
President |
|
2 |
|
|
Name |
Shida Shunsuke |
|
Position |
Vice President |
|
Date of Appointment |
2007-9-1 |
|
3 |
|
|
Name |
Guangming Xie |
|
Position |
Director |
|
4 |
|
|
Name |
Naoto Nojiri |
|
Position |
Director |
|
5 |
|
|
Name |
Jingqiao Gao |
|
Position |
Director |
|
6 |
|
|
Name |
Kazuo Nakamura |
|
Position |
Director |
|
7 |
|
|
Name |
Jingwei Deng |
|
Position |
Director |
|
8 |
|
|
Name |
Mengdan Lin |
|
Position |
Director |
|
9 |
|
|
Name |
Huixiang Lin |
|
Position |
Director |
|
10 |
|
|
Name |
Mengyang Lin |
|
Position |
Director |
|
11 |
|
|
Name |
Wenhao He |
|
Position |
Supervisor |
|
12 |
|
|
Name |
Susumu Nakamura |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 80 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.402, Feng Jen Rd., Renwu Dist., Kaohsiung City 814, Taiwan (R.O.C.) |
Production
Information
Subject is engaged in manufacturing of chemical products, etc.
Subject has a factory in Renwu
Dist., Kaohsiung City, Taiwan for production.
Subject obtained the certifications of ISO
9001 and ISO 14001.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacture of polyurethane resin and surface treatment agent |
|
-- |
Manufacture of polyester polyol |
|
-- |
Manufacture of plasticizer |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned
or restricted. |
Subject purchases both at home and abroad and it is introduced that
subject’s major suppliers include Bayer and BASF, etc
The subject is mainly engaged in sales of
chemical products, etc.
The major products sold by subject include surface treating agent, plasticizer, polyester polyol and PU resin, etc
Subject’s sales regions include domestic market, Japan, Southeast Asia,
Europe and America, etc.
Product Application
|
Product |
Application |
|
Polyurethane Resin |
Synthetic leather |
|
Adhesive |
PU, PVC Leather, Food Packing, Shoes |
|
Surface Coating Agent |
PU, PVC Leather, |
|
Breathable Resin |
Fabric Coating |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Raw materials |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Chemical
products |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Chemical
products |
L/C, T/T, 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. He 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 can not obtain the relevant information, either.
Mortgage
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
030867 |
|
Debtor Name: |
Tai Chin Chemical Industry Co., Ltd. |
|
Document Number: |
290269 |
|
Date of Registration: |
1988-6-25 |
|
Date of Alteration: |
1988-6-25 |
|
Status: |
Pay off |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
|
Name |
Mr. He |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.51 |
|
|
1 |
Rs.94.98 |
|
Euro |
1 |
Rs.81.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.