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Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
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Name : |
CHIROGATE INTERNATIONAL INC. |
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Registered Office : |
No.41, LN. 298, & No.22, Aly. 39, Ln.
298, Gong 2nd Rd., Longtan Township, Taoyua County 32559 |
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Country : |
Taiwan |
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Date of Incorporation : |
15.11.1999 |
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Com. Reg. No.: |
70452890 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of BPC(bulk pharmaceutical chemicals) |
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No. of Employees : |
About 50
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. 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.2, Shih 4th Rd., Youth Industrial Park, Yangmei Township, Taoyuan County 32657, Taiwan |
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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: Subject’s exact name and address are as above.
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Registered Name: |
CHIROGATE INTERNATIONAL INC. |
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Registered Address: |
No.41, LN. 298, & No.22, Aly. 39, Ln. 298, Gong 2nd Rd., Longtan Township,
Taoyua County 32559, Taiwan |
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Date of Foundation: |
|
|
Registration Number: |
70452890 |
|
Registry: |
Central Region
Office, Ministry of Economic Affairs |
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Registered Capital: |
NTD 236,000,000 (USD 8,000,400) (As of 2013.01, 1
NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 235,965,560
(USD 7,999,232) |
|
Legal Representatives: |
Fanggui Wei |
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Legal Form: |
|
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Principal Activities: |
Manufacture and sales of BPC(bulk pharmaceutical
chemicals) |
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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
|
Name |
Subscription Shares |
|
Fanggui Wei |
66,541 |
|
Zhang Men Investment Co., Ltd (Literal
Translation) |
|
|
9,989,023 |
|
|
Ai Da Yuan Investment Co., Ltd (Literal Translation) |
3,658,442 |
The information
above is that of subject’s major shareholders.
It is introduced
that subject three plant sites in Taiwan with total 9 dedicated production workshops
all equipped with independent HVAC systems as well as producing equipments,
while the details are not disclosed.
Core
Management
|
1 |
|
|
Name |
Fanggui Wei |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Shiyi Wei |
|
Position |
Director |
|
3 |
|
|
Name |
Youzhi Ye |
|
Position |
Director |
|
4 |
|
|
Name |
Suying Chen |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 50 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.2, Shih 4th
Rd., Youth Industrial Park, Yangmei Township, Taoyuan County 32657,
Taiwan |
Production
Information
l
Subject is engaged in manufacture of BPC(bulk
pharmaceutical chemicals)
l
It is introduced that subject supplies the service
of customized production service
l
It is introduced that subject has applied for 2
patents US 2007/0166809 and US 2007/0167641.
Purchase
Information
l
The major registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Manufacture of basic chemicals |
|
C801020 |
Manufacture of raw materials for petrochemical
industry |
|
C802060 |
Manufacture of Animal medicine |
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C802080
|
Manufacture of Environmental health drug |
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C802120 |
Manufacture of industrial additives |
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F102160 |
|
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F107030 |
Wholesales of cleaning products |
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F107080 |
Wholesales of Environmental health drug |
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F107170 |
Wholesales of industrial additives |
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F107990 |
Wholesales of other chemical products
(Pharmaceutical intermediates and essential oil) |
|
F108040 |
Wholesales of cosmetics |
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F108060 |
Wholesales of B type medicine |
|
F113030 |
Wholesales of precise
instrument |
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F207030 |
Retails of cleaning products |
|
F207080 |
Retails of Environmental health medicine |
|
F207170
|
Retails of industrial additives |
|
F207990 |
Retails of other chemical products
(Pharmaceutical intermediates and essential oil) |
|
F213040 |
Retails of
precise instrument |
|
F401010 |
International Trading Business |
|
I103010 |
enterprise operating and management consulting
service |
|
IC01010 |
Pharmaceutical inspection industry |
|
C808041 |
|
|
C801030 |
Manufacture of Precision chemical materials |
l
Subject purchases raw materials and equipment both
at home and abroad.
l
The subject is mainly engaged in sales of BPC(bulk
pharmaceutical chemicals)
such as Misoprostol、Latanoprost、Bimatoprost、Travoprost、Dinoprost、Alprostadil and Epoprostenol, etc
l
Subject’s products are both sold in domestic and
overseas market and it exports to Europe and USA, etc
l
It is introduced that over 90% of subject’s
customers are overseas pharmaceutical factories
Products in
Commercial Scale
|
Latanoprost (US DMF #18343; CAN DMF #2005-169;
EDMF; Japan DMF; China DMF) |
Products on
R&D Pipeline
|
Lubiprostone |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials
and equipment, etc |
COD, Credit
Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
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Raw materials
and equipment, etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
BPC |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
BPC |
CBD, 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 declined to disclose its financials citing the grounds of
company’s confidentiality; from other source we can not obtain the relevant
information, either.
Subject did not introduce its bank details, thus we can not confirm the
supplied banker Taiwan Business bank taipei city 103, Taiwan
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.
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
UK Pound |
1 |
Rs.85.25 |
|
Euro |
1 |
Rs.71.72 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
|
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 |
|
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.