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Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHROMA CHEMICAL CORP. |
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|
|
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Registered Office : |
No.36, Jingjian 4th Rd., Guanyin Township,
Taoyuan County 328, Taiwan (R.O.C.) |
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|
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Country : |
Taiwan |
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|
|
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Date of Incorporation : |
21.10.1991 |
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Com. Reg. No.: |
86368271 |
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|
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Legal Form : |
Joint
Stock Company |
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|
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Line of Business : |
Manufacturing and sales of dyestuffs, etc |
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|
|
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No. of Employees : |
60 |
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 |
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Payment Behaviour : |
Regular |
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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
|
Company Name: |
Chroma Chemical Corp. |
|
Supplied Name: |
CHROMA CHEMICAL CORPORATION |
|
Trading Address: |
No.36, Jingjian 4th Rd., Guanyin Township, Taoyuan County 328, Taiwan
(R.O.C.) |
|
Supplied Address: |
No. 110, Zhixiang 1st, St. Dayuan Shiang, Taoyuan County |
|
Telephone Number: |
+886-3-483-7088 |
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Fax Number: |
+886-3-483-7058 |
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E-mail: |
Notes: The exact name and address are as above and the supplied address also belongs to subject.
|
Registered Name: |
Chroma Chemical Corp. |
|
Registered Address: |
No.36, Jingjian 4th Rd., Guanyin Township, Taoyuan County 328, Taiwan
(R.O.C.) |
|
Date of Foundation: |
1991-10-21 |
|
Registration Number: |
86368271 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
NTD 192,000,000 (USD
6,528,000) (As of 2013.03, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 192,000,000 (USD 6,528,000) |
|
Legal Representatives: |
Wanfa Cai |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on 1991-10-21
with registered number 86368271
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Wanfa Cai |
8,472,000 |
| Baoyu
He |
8,472,000 |
|
Donghan Cai |
1,128,000 |
|
Yalu Cai |
1,128,000 |
The information above is that of subject’s major shareholders.
Office
|
Name |
Chroma Chemical
Corp. Dayuan Office |
|
Address |
1F, No. 110, Zhixiang 1st St., Dayuan Township, Taoyuan
County, Taiwan, R.O.C. |
|
Telephone Number |
+86-25-5751-2646 |
Related Companies
|
1 |
|
|
Name |
Nanjing Chroma
Chemical Corp. |
|
Address |
No. 138,
Xiongzhou East Road, Xiongzhou Town, Liuhe, Nanjing, Jiangsu, China |
|
Telephone Number |
+86-25-5751-2646 |
|
|
|
|
Name |
Suqian Chroma
Chemical Corp. |
|
Address |
Binhu New City
Development Zone Industrial Park, Suqian City, Jiangsu Province, China |
Core
Management
Directors
|
1 |
|
|
Name |
Wanfa Cai |
|
Position |
Chairman |
|
Date of
Appointment |
1993-6-25 |
|
2 |
|
|
Name |
Baoyu He |
|
Position |
Director |
|
3 |
|
|
Name |
Donghan Cai |
|
Position |
Director |
|
4 |
|
|
Name |
Yalu Cai |
|
Position |
Supervisor |
Personnel
Structure
|
Total
Employees |
About 60 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.36, Jingjian 4th Rd., Guanyin Township, Taoyuan County 328, Taiwan
(R.O.C.) |
Production
Information
l
Subject is engaged in manufacturing of
dyestuffs, etc.
l
Subject has factories in Taiwan and
mainland China for production and the details information as follows for
reference.
|
Factory |
Area |
No. of Staff |
Production Activities |
|
Guanyin Factory,
Taiwan |
About 10,000 Square Meters |
About 60 Employees |
3,000 tons |
|
Nanjing Factory,
China |
About 35,800 Square Meters |
About 80 Employees |
10,000 tons |
|
Suqian Factory,
China |
About 46,000 Square Meters |
-- |
10,000 tons |
Purchase Information
l
The registered activities of subject:
|
1 |
Various dyes, textile dyeing auxiliaries and
other chemical raw materials manufacturing and trading business |
|
2 |
Manufacture and trade of UV absorbers and other
fine chemical products |
|
3 |
Manufacturing and trading business of dye
intermediates, pigment intermediates |
|
4 |
Import and export of the above mentioned products |
|
5 |
Operations and investment of the above mentioned
products |
l
The raw materials for production are
mostly purchased in domestic market.
l
Subject is engaged in sales of
dyestuffs, etc.
l
Subject’s sales regions include Japan,
Southeast Asia, Europe, America, and Africa, etc.
l
The subject
has a proportion of 70% for export.
l
The major products sold by subject
include direct dyes, hot reactive dyes, vinyl-sulphone dyes, and bifunctional
dyes, etc.
l
The major customer of subject is
textile manufacturer, etc.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials, etc. |
COD, CBD, etc |
100% |
Foreign Purchase
Subject has little
import.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Dyestuffs,
etc |
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’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 |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
|
|
1 |
Rs.81.56 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.