|
Report Date : |
28.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUNSTAR CHEM.AND
PHARM. CORP. |
|
|
|
|
Registered Office : |
No.112-2, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
16.12.1989 |
|
|
|
|
Com. Reg. No.: |
23562024 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Trading of pharmaceuticals |
|
|
|
|
No. of Employees : |
Not Available |
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: |
2F., No.112-2, Jhongjheng Rd., Xinying Dist., Tainan City 730, Taiwan
(R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-6-636-2898 |
|
Fax Number: |
|
|
E-mail: |
The exact name and
address are as above.
|
Registered Name: |
SUNSTAR CHEM.AND
PHARM. CORP. |
|
Registered
Address: |
No.112-2,
Jhongjheng Rd., Xinying Dist., Tainan City 730, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1989-12-16 |
|
Registration
Number: |
23562024 |
|
Registry: |
Tainan City
Government |
|
Registered
Capital: |
(As of 2013.12, 1
NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 15,000,000
(USD 502,500) |
|
Legal
Representatives: |
Rongdi Wu |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
Subject was incorporated on 1989-12-16 with registered number 23562024 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Rongdi Wu |
81,150 |
|
Zhenming Xiao |
|
|
27,000 |
|
|
Yingsheng Investment Co Ltd (Liberal Translation) |
515,000 |
|
Liren Chen |
135,000 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Yingsheng Investment Co Ltd (Liberal Translation) |
|
Registered
Address: |
10F., No.72,
Songjiang Rd., Zhongshan Dist., Taipei City, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1994-8-5 |
|
Registration
Number: |
84927948 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
NTD 160,000,000 (USD
5,360,000) (As of 2013.12, 1
NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 160,000,000
(USD 5,360,000) |
|
Legal
Representatives: |
Zhenming Xiao |
|
Legal Form: |
Joint Stock
Company |
|
Staff: |
N/A |
|
Listed at Stock
Exchange: |
No |
|
Date of Last Annual
Return: |
2011-12-27 |
Related Companies
|
Name: |
Standard Chem.
& Pharm. Co., Ltd |
|
Address: |
No.6-20, Tuku., Tuku Village, Sinying District, Tainan City 73055, Taiwan |
|
Telephone Number: |
+886-6-636-1516 |
|
Fax Number: |
+886-6-635-2817 |
|
E-mail: |
Core Management
Directors
|
1 |
|
|
Name |
Rongdi Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zhenming Xiao |
|
Position |
Director |
|
3 |
|
|
Name |
Cuiwen Ye |
|
Position |
Director |
|
4 |
|
|
Name |
Liren Chen |
|
Position |
Supervisor |
Offices & Factories
|
|
Headquarters |
|
Add |
2F., No.112-2, Jhongjheng Rd., Xinying Dist., Tainan City 730, Taiwan (R.O.C.) |
Production Information
Subject is a trader of pharmaceuticals and etc without any production activities
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F102020 |
Wholesales of edible oil and fat. |
|
F102170 |
Wholesales of food and miscellaneous goods. |
|
F102040 |
Wholesales of drinks. |
|
F203010 |
Retails of food, drinks and miscellaneous goods. |
|
F102180 |
Wholesales of alcohol. |
|
F203030 |
Retails of alcohol. |
|
F102030 |
Wholesales of cigarette and wine. |
|
F203020 |
Retails of cigarette and wine. |
|
F104110 |
Wholesales of cloth, wearing, shoes, caps, umbrella and garments’ accessories. |
|
F204110 |
Retails of cloth, wearing, shoes, caps, umbrella and garments’ accessories. |
|
F105050 |
Wholesales of furniture, sleeping supplies, kitchenware and decoration. |
|
F205040 |
Retails of furniture, sleeping supplies, kitchenware and decoration. |
|
F106010 |
Wholesales of hardware. |
|
F206010 |
Retails of hardware. |
|
F106020 |
Wholesales of daily supplies. |
|
F206020 |
Retails of daily supplies. |
|
F107030 |
Wholesales of cleaning supplies. |
|
Retails of cleaning supplies. |
|
|
F107070 |
Wholesales of veterinary medicine. |
|
F207070 |
Retails of veterinary medicine. |
|
F107080 |
Wholesales of environmental medicine. |
|
F207080 |
Retails of environmental medicine. |
|
F107170 |
Wholesales of industrial additives. |
|
F207170 |
Retails of industrial additives. |
|
F108011 |
Wholesales of traditional Chinese medicine. |
|
F208011 |
Retails of traditional Chinese medicine. |
|
F108021 |
Wholesales of western medicine. |
|
Retails of western medicine. |
|
|
F208050 |
Retails of medicine for Class B. |
|
F108031 |
Wholesales of medical device. |
|
F208031 |
Retails of medical device.. |
|
F108040 |
Wholesales of cosmetic. |
|
F208040 |
Retails of cosmetic. |
|
F109070 |
Wholesales of products for culture and education, musical instrument and entertainment. |
|
F209060 |
Retails of products for culture and education, musical instrument and entertainment. |
|
F113030 |
Wholesales of precision instrument. |
|
F213040 |
Retails of precision instrument. |
|
F107200 |
Wholesales of chemical materials. |
|
F207200 |
Retails of chemical materials. |
|
F107990 |
Wholesales of other chemical products. |
|
F207990 |
Retails of other chemical products. |
|
F115020 |
Wholesales of ore. |
|
F215020 |
Retails of ore. |
|
F201010 |
Retails of agricultural products. |
|
F299990 |
Other retails. |
|
F399010 |
Convenience store. |
|
F399040 |
Retails without stores. |
|
F399990 |
Other comprehensive. |
|
F401010 |
International trading business. |
|
F199990 |
Other wholesales. |
|
F501060 |
Restaurant. |
|
F501030 |
Drinks shop. |
|
F102050 |
Wholesales of tea. |
|
F106060 |
Wholesales of pet products. |
|
F206050 |
Retails of pet products. |
|
F106040 |
Wholesales of water equipment material. |
|
F206040 |
Retails of water equipment material. |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
It introduced that subject purchase its products both at home and abroad.
The subject is mainly engaged in sales of pharmaceuticals and etc.
It is introduced that subject’s major products include pharmaceutical dosage forms, pharmaceutical raw materials, Chinese medicines, health foods, cosmetics diy products, diy hand-made soaps and etc.
It is introduced that subject’s selling territory is in United States, Mexico, China, Japan, South Korea, Malaysia, Pakistan and etc.
It is introduced that subject’s major customers are healthcare centers, hospitals, manufacturers of medicine and etc.
It is introduced that subject’s
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Pharmaceuticals and etc. |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Pharmaceuticals and etc. |
CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Pharmaceuticals and etc. |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Pharmaceuticals 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. Liu 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. Liu |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.06 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.