|
Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GREMONT CHEMICAL COMPANY LIMITED |
|
|
|
|
Registered Office : |
2Fl., No.273, Fu Ho Rd., Yonghe Dist., New Taipei City 234 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
04.08.1976 |
|
|
|
|
Com. Reg. No.: |
14082397 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading of chemicals, agrochemical and related products. |
|
|
|
|
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 – 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: |
|
|
Supplied Name: |
|
|
Trading Address: |
2Fl., No.273, Fu Ho Rd., Yonghe Dist., New Taipei City 234, Taiwan
(R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as above.
|
Registered Name: |
Gremont Chemical Company Limited |
|
Registered Address: |
2Fl., No.273, Fu Ho Rd., Yonghe Dist., New Taipei City 234, Taiwan
(R.O.C.) |
|
Date of Foundation: |
1976-8-4 |
|
Registration Number: |
14082397 |
|
Registry: |
|
|
Registered Capital: |
(As of 2013.03, 1 NTD = 0.0337 USD) |
|
Legal Representatives: |
Zhiyun Yang |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1976-8-4 with registered number 14082397 as Joint Stock Company in Taiwan.
|
Name |
Subscription Amount |
|
Zhiyun Yang |
5,500,000 |
The information above is that of subject’s major shareholders.
Subject did not
introduce any subsidiaries or branches, from other source we can not obtain the
relevant information, either.
Core
Management
|
Name |
Zhiyun Yang |
|
Position |
Director |
|
Total Employees |
About
30 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
2Fl., No.273, Fu Ho Rd., Yonghe Dist., New
Taipei City 234, Taiwan (R.O.C.) |
l
Subject is a trader of chemicals, agrochemical and related products without any
production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F102170 |
Wholesale of food and grocery |
|
F102180 |
Wholesale of alcohol |
|
F103010 |
Wholesale of feed |
|
F104110 |
Wholesale of textile, garment, shoe, hat,
umbrella, and accessories |
|
F105050 |
Wholesale of furniture, bedding, and
kitchen utensil |
|
F106010 |
Wholesale of ironware |
|
F106020 |
Wholesale of daily essentials |
|
F107020 |
Wholesale of dye and pigment |
|
F107030 |
Wholesale of cleaning supplies |
|
F107050 |
Wholesale of fertilizer |
|
F107080 |
Wholesale of |
|
F107170 |
Wholesale of industrial additive |
|
F107190 |
Wholesale of plastic membrane and bag |
|
F107200 |
Wholesale of chemical |
|
F107990 |
Wholesale of other chemical |
|
F108040 |
Wholesale of cosmetic |
|
F111090 |
Wholesale of building materials |
|
F113010 |
Wholesale of machinery |
|
F113030 |
Wholesale of precise instrument |
|
F113990 |
Wholesale of other machinery |
|
F202010 |
Retail of feed |
|
F203010 |
Retail of food, beverage and grocery |
|
F203030 |
Retail of alcohol |
|
F204110 |
Retail of textile, garment, shoe, hat,
umbrella, and accessories |
|
F205040 |
Retail of furniture, bedding, and kitchen
utensil |
|
F206010 |
Retail of ironware |
|
F206020 |
Retail of daily essentials |
|
F207020 |
Retail of dye and pigment |
|
F207030 |
Retail of cleaning supplies |
|
F207050 |
Retail of fertilizer |
|
F207080 |
Retail of environmental medicine |
|
F207170 |
Retail of industrial additive |
|
F207190 |
Retail of plastic membrane and bag |
|
F207200 |
Retail of chemical |
|
F207990 |
Retail of other chemical |
|
F208040 |
Retail of cosmetic |
|
F211010 |
Retail of building material |
|
F213080 |
Retail of machinery |
|
F401010 |
International trade business |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
It is introduced that the subject purchases
products both in domestic and oversea market.
l
The subject is engaged in sales of chemicals, agrochemical and related products.
l
It is introduced that
subject’s major selling territory include Asia, Europe, America and etc.
l
It is introduced that
subject’s major customers are manufacturers of chemical products and etc.
l
It is introduced that
subject’s products are applied to chemical industry, agriculture and etc.
Major products
sold
|
|
Product |
|
1 |
Copper Sulphate |
|
2 |
Zinc Sulphate |
|
3 |
Mono Ammonium Phosphate |
|
4 |
Disodium Phosphate & Trisodium
Phosphate |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Chemicals, agrochemical and related products. |
COD,
CBD, etc |
100% |
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Chemicals, agrochemical and related products. |
CBD,
etc |
100% |
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Chemicals, agrochemical and related products. |
COD,
CBD, etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Chemicals, agrochemical and related products. |
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 Mr. Ye 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 |
Mr. Ye |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
|
UK Pound |
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.