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Report Date : |
10.05.2013 |
IDENTIFICATION DETAILS
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Name : |
CHEM GARDAN ENTERPRISE INC. |
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Registered Office : |
1FL., No.4, Alley 35, Lane 175, Sec.2,
Hoping E. Rd., Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
16.02.1984 |
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Com. Reg. No.: |
12480222 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of chemicals and etc. |
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No. of Employees : |
13 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
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Company Name: |
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Supplied Name: |
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Trading Address: |
1FL., No.4,
Alley 35, Lane 175, Sec.2, Hoping E. Rd., Taipei Taiwan R.O.C. |
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Supplied Address: |
No. 4, Alley 35
Lane 175, Sec. 2, Ho Ping E. Rd. Taipei, Taiwan, R.O.C. |
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Telephone Number: |
+886-2-2707-5385 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as
above.
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Registered Name: |
CHEM GARDAN ENTERPRISE INC. |
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Registered Address: |
1FL., No.4, Alley 35, Lane 175, Sec.2,
Hoping E. Rd., Taipei Taiwan R.O.C. |
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Date of Foundation: |
1984-2-16 |
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Registration Number: |
12480222 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2013.5, 1 NTD = 0.0335 USD) |
|
Legal Representatives: |
Zhongxing Wu |
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Legal Form: |
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Principal Activities: |
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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 1984-2-16 with registered number 12480222
as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Zhongxing Wu |
11,000,000 |
|
Jinxiong Wu |
|
|
11,000,000 |
|
|
Naizhen Zhuang |
1,250,000 |
The information above is that of subject’s major shareholders.
It is introduced that subject doesn't have any
subsidiaries or branches.
Core Management
Directors
|
1 |
|
|
Name |
Zhongxing Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jinxiong Wu |
|
Position |
Director |
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3 |
|
|
Name |
Naizhen Zhuang |
|
Position |
Director |
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Total Employees |
13 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
1FL., No.4, Alley 35, Lane 175, Sec.2, Hoping E. Rd., Taipei Taiwan
R.O.C. |
Production
Information
Subject is a trader of chemicals
and etc without any production activities
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
F102170 |
Wholesales of foods and other goods. |
|
F108021 |
Wholesales of western medicine. |
|
F401010 |
International trading business. |
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ZZ99999 |
Besides licensed business, all other business items those are not banned
or restricted. |
It is introduced that subject imports products from Switzerland, France,
USA and etc.
The subject is mainly engaged in sales of chemicals and etc.
It is introduced that subject’s major products
are essence, cosmetic raw materials, natural wax and etc.
It is introduced that subject’s selling
territory is mainly in domestic market.
It is introduced that subject’s major
customers are manufacturers of chemical products, medicine, cosmetics and etc.
It is introduced that subject’s top 5 of major customers are
“Jourdeness”, “Formosa”, “Charming Chemical”, “Kiss Color” and “3dl Inc”
It is introduced that subject doesn’t has any sales offices, agents,
representative or distributors in Cuba, Iran, North Korea, Sudan and Syria.
It is introduced that subject sells products with many brands, such as
“Lubrizol”, “GIVAUDAN”, “ROCHE”, “LCW”, “RITA”, “BIOLANDES” and etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
The subject has little purchase in domestic
market.
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Chemicals and etc. |
COD, CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Chemicals and etc. |
COD, CBD and etc |
100% |
Export
The subject has little export.
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. Wu 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
Up to date of reporting, no existing or latent
litigation of the subject has been found.
|
Name |
Mr. Wu |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.24 |
|
|
1 |
Rs.84.29 |
|
Euro |
1 |
Rs.71.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
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 |
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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 |
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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 |
|
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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.