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Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
GREAT EASTERN RESINS INDUSTRIAL CO., LTD. |
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|
|
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Registered Office : |
No.35, 34th Road, Taichung Industrial Park,
Taichung |
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Country : |
Taiwan |
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Date of Incorporation : |
19.10.1973 |
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Com. Reg. No.: |
51008069 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of adhesives, etc |
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|
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|
No. of Employees : |
About 400 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 |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
No Complaints |
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|
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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 revenues. 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: |
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Supplied Name: |
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Trading Address: |
No.35, 34th Road, Taichung Industrial Park, Taichung, Taiwan, R.O.C. |
|
Supplied Address: |
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Telephone
Number: |
+886-4-2358-7676 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1973-10-19 with registered number 51008069
as Joint Stock Company in
Taiwan.
Awards
|
Year |
Awards |
|
2009 |
Blue chip importer and exporter |
|
2010 |
Blue chip importer and exporter |
|
2011 |
Blue chip importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
2011 |
22,000,000 |
|
Name |
Subscription Shares |
|
Guangliang Liao |
7,950,702 |
|
Guanghui Liao |
|
|
8,949,188 |
|
|
Huixiang Lin |
17,457 |
|
Shixiong Zeng |
556,366 |
|
Taiquan Wu |
62,455 |
|
Shujuan Liao |
3,938,465 |
|
Shuzhen Liaoshi |
3,700,164 |
|
Guangyao Zhang |
1,100 |
The information above is that of subject’s major shareholders.
Factories
|
1 |
|
|
Name |
Chung-kang Plant |
|
Address |
No.88-8, Sec 3, Chung Kang Road, Xi Tun District,
Taichung City, Taiwan |
|
Telephone Number |
+886-4-2463-0719 |
|
Fax Number |
+886-4-2463-2280 |
|
2 |
|
|
Name |
Kaohsiung Plant |
|
Address |
No.9, Guanghua Road, Da-Liao District,
Kaohsiung City, Taiwan |
|
Telephone Number |
+886-4-2463-0719 |
|
Fax Number |
+886-4-2463-2280 |
Related Companies
|
1 |
|
|
Name |
Zhongshan Envopro Technology Ltd |
|
Address |
Nanlong Industrial Park, San Xiang Town,
Zhongshan City, Guangdong Province, China |
|
Telephone Number |
+86-760-8633-8180 |
|
Fax Number |
+86-760-8633-8984 |
|
2 |
|
|
Name |
Shunde Great Eastern Resins Co., Ltd |
|
Address |
No.19,Xingye Road, Shunde Beijiao Economy
Industrial Park, Foshn City, Guangdong Province, China |
|
Telephone Number |
+86-757-2665-0707 |
|
Fax Number |
+86-757-2665-0176 |
|
3 |
|
|
Name |
Zhejiang Greco Eastern Resins Co., Ltd |
|
Address |
No.30, Weiwu Road, Hangzhou Wan Industrial
Park, Shangyu City, Zhejiang Province, China |
|
Telephone Number |
+86-575-8272-9790 |
|
Fax Number |
+86-575-8273-9298 |
|
4 |
|
|
Name |
Dongguan Great Eastern Resins CO., LTD. |
|
Address |
Shatian Town, Dongguan City, Guangdong
Province, China |
|
Telephone Number |
+86-769-8880-6780 |
|
Fax Number |
+86-769-8880-6799 |
|
5 |
|
|
Name |
Dardanchem SDN. BHD. Malaysia. |
|
Telephone Number |
+60-3-5191-2311 |
|
Fax Number |
+60-3-5191-2149 |
|
6 |
|
|
Name |
Great Eastern Resins Industrial (VN) Co.,
Ltd |
|
Telephone Number |
+84-650-379-0856 |
|
Fax Number |
+84-650-379-1695 |
|
7 |
|
|
Name |
P.T. Great Eastern Resins Industrial,
Indonesia. |
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Telephone Number |
+62-321-681-9261 |
|
Fax Number |
+62-321-681-9260 |
|
8 |
|
|
Name |
Great Eastern Resins (Phils) Ind. CO.,
LTD. |
|
Telephone Number |
+63-2-681-5616 |
|
Fax Number |
+63-2-645-1323 |
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9 |
|
|
Name |
Great Eastern Hi Tech Material |
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Telephone Number |
+86-512-5776-6789 |
|
Fax Number |
+86-512-5776-9966 |
Core Management
Directors
|
1 |
|
|
Name |
Guangliang Liao |
|
Position |
Board Chairmen |
|
Date of Appointment |
1990-5-9 |
|
2 |
|
|
Name |
Guanghui Liao |
|
Position |
Director |
|
3 |
|
|
Name |
Huixiang Lin |
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Position |
Director |
|
4 |
|
|
Name |
Chaotang You |
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Position |
Director |
|
5 |
|
|
Name |
Shixiong Zeng |
|
Position |
Director |
|
6 |
|
|
Name |
Pingshun Cai |
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Position |
Director |
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7 |
|
|
Name |
Taiquan Wu |
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Position |
Director |
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8 |
|
|
Name |
Shujuan Liao |
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Position |
Supervisor |
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9 |
|
|
Name |
Shuzhen Liaoshi |
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Position |
Supervisor |
|
10 |
|
|
Name |
Guangyao Zhang |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 400 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.35, 34th Road, Taichung Industrial Park,
Taichung, Taiwan, R.O.C. |
Production
Information
Subject is engaged in manufacturing of adhesives, etc.
Subject has factories in Taiwan, mainland China, and Vietnam, etc for
production.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing, processing and sales of all
kinds of synthetic resin, synthetic rubber adhesive, and its related additive |
|
-- |
Manufacturing, processing and sales of
paints, coatings and polish |
|
-- |
Manufacturing, processing and sales of
synthetic resin |
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-- |
Manufacturing, processing and sales of
styrene, acrylonitrile, acryl, butadiene, high polymer resin polymer |
|
-- |
Manufacturing, processing and sales of dry
film and liquid photoimagible solder mask |
|
-- |
Manufacturing, processing and sales of
above chemical products |
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|
Import and export of above item |
|
J201030 |
Skill training industry |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
The raw materials for production are purchased from both home and
abroad.
Subject is engaged in sales of adhesives,
etc.
Subject’s sales regions include Asia, Europe, America and Australia,
etc.
Subject obtained the certifications of ISO 9001:2008, ISO 14001, and
OHSAS 18001.
The adhesives are applied to
shoes, building materials, and leathers, etc.
Major products sold
|
Type |
Product |
|
Adhesive and Relative Adjuvant |
Spray Adhesive Hot Melt Adhesive Water-based Fabric/Leather/PU Synthetic
Adhesives |
|
Plastic Raw Material |
TPU Resin, Thermoplastic Polyurethane PC/ABS ABS |
|
Dry Film Photoresist |
Dry film photoresist |
|
Specialty Chemical |
Liquid Photoresist Solder Mask LED Optoelectronic Encapsulant |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials |
COD,
CBD, etc |
100% |
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials |
CBD,
etc |
100% |
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Adhesives,
etc |
COD,
CBD, etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Adhesives,
etc |
CBD,
etc |
100% |
Notes: Subject’s
settlement for export is generally in USD
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. Hu 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. Hu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.88.76 |
|
Euro |
1 |
Rs.72.19 |
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.