|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHIN CHANG CO., LTD. |
|
|
|
|
Registered Office : |
No.109, Chang Shou Rd., Kwei-Shan Hsiang,
Taoyuan |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
07.04.1965 |
|
|
|
|
Com. Reg. No.: |
33342008 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacture and sell of ink, printing ink,
and coating. |
|
|
|
|
No. of Employees : |
About 30 Employees |
RATING & COMMENTS
|
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 |
|
Payment Behaviour : |
No Complaints |
|
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: |
|
|
Supplied Address: |
NO 109 CHANG SOU
ROAD,KUEI SHAN SHIANG, TAO YUAN HSIEN, Taiwan |
|
Telephone Number: |
+886-3329-1116 |
|
Fax Number: |
+886-3329-1118 |
|
E-mail: |
Notes: The exact name and address are as above
|
Registered Name: |
|
|
Registered Address: |
No.109, Chang Shou Rd., Kwei-Shan Hsiang,
Taoyuan, Taiwan |
|
Date of Foundation: |
1965-4-7 |
|
Registration Number: |
33342008 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
(As of 2013.07, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 12,000,000 (USD 406,800) |
|
Legal Representatives: |
Xinxiong Li |
|
Legal Form: |
|
|
Principal Activities: |
Manufacture and
sell of ink, printing ink, and coating. |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1965-4-7
with registered number 33342008
as Joint stock company in Taiwan.
|
Subscription Shares |
|
|
Xinxiong Li |
30,000 |
|
Xingzi Lilin |
21,800 |
|
Zhaoxiong Li |
21,000 |
|
Zhengwen Lin |
1,000 |
|
Yuefeng Li |
20,000 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
Shanghai Shinchang Printing Ink Co., Ltd |
|
Address: |
No.433, Xie Xin Rd.,Hong Miao Industrial District, Feng Cheng, Feng
Xian, Shanghai , China. |
|
Telephone Number: |
+86-21-5713-2050 |
|
2 |
|
|
Name |
Zhe Jiang Yow Chang Printing Ink Co., Ltd |
|
Address: |
No.339, Jin Xiu Rd., Yao Zhuang Industrial Zone, Jia Shan, Zhe Jiang,
China. |
|
Telephone Number: |
+86-573-8477-9727 |
|
3 |
|
|
Name |
Shin Chang (VN) Co., Ltd |
|
Address: |
Cn1-5, No.3 Rd., Song Than 3 Industrial Zone, Thu Dau Mot, Binh Duong Province,
Vietnam. |
|
Telephone Number: |
+84-650-363-1908 |
Core Management
Directors
|
1 |
|
|
Name |
Xinxiong Li |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Xingzi Lilin |
|
Position |
Director |
|
3 |
|
|
Name |
Zhaoxiong Li |
|
Position |
Director |
|
4 |
|
|
Name |
Zhengwen Lin |
|
Position |
Director |
|
5 |
|
|
Name |
Yuefeng Lin |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 30 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject is engaged in manufacturing of various types of printing inks, etc.
It is introduced that subject has 4 factories for production which are
located in Taiwan, Mainland China, and Vietnam.
Purchase
Information
The registered activities of subject:
|
1 |
Manufacturing business of ink, printing ink,
and coating etc. |
|
2 |
Besides licensed business, all other
business items those are not banned or restricted. |
The raw materials for production are mostly purchased in domestic markets.
The subject is mainly engaged in sales of various types of printing inks, etc.
The printing inks are mainly applied to
gravure of PVC and wall paper, etc.
The subject’s main sales regions include
Taiwan and Southeast Asia.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase (Taiwan and Mainland,
China)
|
Terms |
Proportion |
|
|
Raw material |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Raw material |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Printing inks |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Printing inks |
L/C, 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. Yang declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
2012,Taoxiao,549 |
|
|
Date of Trial: |
2012-12-21 |
|
Reason: |
|
Name |
Ms. Yang |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.44 |
|
|
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.43 |
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.