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Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
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Name : |
UNITED RAW MATERIAL SOLUTIONS INC. |
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Registered Office : |
11th Floor, No.167, Fuxing North Road,
Songshan District, Taipei City 10560 |
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Country : |
Taiwan |
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Date of Incorporation : |
17.11.2003 |
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Com. Reg. No.: |
80542219 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of plastic and petrochemical raw
materials |
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No. of Employees : |
60 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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. 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.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
11th
Floor, No.167, Fuxing North Road, Songshan District, Taipei City 10560,
Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
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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: |
United Raw Material Solutions Inc. |
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Registered Address: |
11th Floor, No.167, Fuxing North Road,
Songshan District, Taipei City 10560, Taiwan (R.O.C.) |
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Date of Foundation: |
2003-11-17 |
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Registration Number: |
80542219 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 297,650,400
(USD 10,120,113.60) (As of 2013.12, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 115,850,680 (USD
3,938,923.12) |
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Legal Representatives: |
Jinglun Lin |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated
on 2003-11-17 with registered number 80542219
as Joint Stock Company in
Taiwan.
Change of Address:
|
Current Address |
11th Floor, No.167, Fuxing North
Road, Songshan District, Taipei City 10560, Taiwan (R.O.C.) |
|
Former Address |
5F., No.35, Ln. 11, Guangfu N. Rd., Songshan
Dist., Taipei City 10560, Taiwan (R.O.C.) |
|
Name |
Subscription
Shares |
|
Jinglun Lin |
4,634,238 |
|
Jingzhe Lin |
|
|
422,672 |
|
|
Jingyuan Lin |
359,721 |
|
Qianhui Lin |
479,629 |
|
Yixiong Lin |
1,648 |
The information above is that of subject’s major shareholders.
Related Companies
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1 |
|
|
Name |
Formosa Industries Corporation |
|
Address |
Nhon Trach 3 Industrial Zone, Nhon Trach District, Dong Nai Province,
Vietnam |
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2 |
|
|
Name |
Formosa Chemicals & Fibre Corporation |
|
Address |
359, Chung Shan Rd., Sec.3, Chuang Hwa City, Taiwan; Changhua County,
Taiwan |
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3 |
|
|
Name |
Formosa Plastics Corporation |
|
Address |
201 Tung Hwa North Rd, Taipei, Taiwan |
Core Management
Directors
|
1 |
|
|
Name |
Jinglun Lin |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Jingzhe Lin |
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Position |
Director |
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3 |
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Name |
Jingyuan Lin |
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Position |
Director |
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4 |
|
|
Name |
Qianhui Lin |
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Position |
Supervisor |
|
5 |
|
|
Name |
Yixiong Lin |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 60 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
5F., No.35, Ln. 11, Guangfu N. Rd., Songshan Dist., Taipei City 10560,
Taiwan (R.O.C.) |
Production Information
Subject is a trader of plastic and petrochemical raw materials without
any production activities.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
Subject purchases products from both home and abroad.
We obtained some of subject’s major suppliers’ information as follows
for reference.
|
Type |
Product |
Supplier |
|
Textile raw materials |
Polyester Staple Fiber |
Tuntex Distinct Corp. |
|
Viscose |
Formosa Chemicals & Fibre Corporation |
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|
Draw Texturing Yarn |
Tuntex Distinct Corp. |
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|
Polyester Pre-Oriented Yarn |
Taiwan Polypropylene Co., Ltd |
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Plastic raw material |
ABS |
Formosa Chemicals & Fibre Corporation Great Eastern Resins Industrial Co., Ltd Taita Chemical Co., Ltd |
|
EVA |
Formosa Plastics Corporation USI Corporation |
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|
PP/PE |
Formosa Chemicals & Fiber Corporation Formosa Plastics Corporation Korea Petrochemical Industrial Co., Ltd Taiwan Polypropylene Co., Ltd Titan Polyethylene (Malaysia) Sdn. Bhd TPI Polene Public Company Limited USI Corporation Yung Chia Chemical Industries Corporation Hanwha Corporation Siam Chemical Trading Daelim Corporation |
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|
PS |
Eternal Chemical Formosa Chemicals & Fibre Corporation Supreme Petrochem LTD Taita Chemical Co., Ltd |
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|
PVC |
Apex Petrochemical Co., Ltd China General Plastics Corp Hanwha Corporation Jiamin Textile Co., Ltd Korea Petrochemical Industrial Co., Ltd Formosa Plastics Corporation |
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Petrochemical |
Plasticizers |
Formosa Chemicals & Fiber Corporation |
·
Subject is engaged in sales of plastic and
petrochemical raw materials
·
Subject’s sales regions include Asia, Europe,
Middle East, India and Pakistan
·
Subject’s major customers are textile
manufacturing, electronic products manufacturer and automobile manufacturer
·
Subject’s major customers are Queen Gil Co., Ltd
and Asian Business Group S.A.S.
Major Products
|
Type |
Product |
|
Textile raw materials |
Polyester, Nylon, Viscose |
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Plastic raw material |
EVA, PE, PP, PS, PVC, SAN, PA, PET |
|
Petrochemical raw materials |
PTA, MEG, PET CHIP, PX, 1.4BG, THF |
|
Electronics |
LCD Optical Protection Film, Flash Drive |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Plastic and
petrochemical products |
Interior Settlement,
T/T |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Plastic and
petrochemical products |
T/T, L/C |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Plastic and
petrochemical products |
Cash, T/T |
100% |
Export
|
Terms |
Proportion |
|
|
Plastic and
petrochemical products |
T/T, L/C |
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. Xie declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
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1 |
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Name |
CITI Bank |
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2 |
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Name |
Far Eastern International Bank |
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3 |
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Name |
Bank of Overseas Chinese |
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4 |
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Name |
Bank of Shanghai |
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5 |
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Name |
HSBC |
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. Xie |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.