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Report Date : |
11.11.2013 |
IDENTIFICATION DETAILS
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Name : |
SINO-JAPAN CHEMICAL CO., LTD. |
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Registered Office : |
14FL., No.99, Sec.2, Jen Ai Rd., Jhongjheng District, Taipei 100 |
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Country : |
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Date of Incorporation : |
13.05.1970 |
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Com. Reg. No.: |
33030758 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of chemical products and etc. |
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No. of Employees : |
About 138 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 – 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 |
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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. 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: |
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|
Supplied Name: |
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Trading Address: |
14FL., No.99, Sec.2, Jen Ai Rd., Jhongjheng
District, Taipei 100, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2396-6223 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Sino-Japan Chemical Co., Ltd. |
|
Registered Address: |
14FL., No.99, Sec.2, Jen Ai Rd., Jhongjheng District, Taipei 100,
Taiwan, R.O.C. |
|
Date of Foundation: |
1970-5-13 |
|
Registration Number: |
33030758 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 144,732,000 (USD 4,848,522) (As of 2013.07, 1 NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 144,732,000 (USD 4,848,522) |
|
Legal Representatives: |
Dongsheng Wang |
|
Legal Form: |
|
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Principal Activities: |
|
|
Staff: |
|
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Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on 1970-5-13 with registered
number 33030758 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
China Chemical & Pharmaceutical Co., Ltd. |
318,216 |
|
Mingyang Gao |
|
|
27,655 |
|
|
Nippon Shokubai Co., Ltd. |
704,506 |
|
88,345 |
The information above
is that of subject’s major shareholders.
|
1 |
|
|
Name |
Nippon Shokubai
Co., Ltd. |
|
Address |
Bldg., 4-1-1
Koraibashi, Chuo-ku, Osaka 541-0043, Japan |
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Telephone Number |
+81-6-6223-9111 |
|
Fax Number |
+81-6-6201-3716 |
|
2 |
|
|
Name |
China Chemical
& Pharmaceutical Co., Ltd. |
|
Address |
23, HSIANG YANG
ROAD, TAIPEI, R.O.C. |
|
Telephone Number |
+886-2-2312-4200 |
|
Fax Number |
+886-2-2361-5143 |
|
3 |
|
|
Name |
Great Victory
Chemical Industry Co., Ltd. |
|
Address |
14F.-1, No.206,
Sec. 2, Nanjing E. Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.) |
|
Telephone Number |
+886-2-2503-3131 |
|
Fax Number |
+886-2-2503-4600 |
Factory
|
Name |
Linyuan Plant |
|
Address |
No. 6, Shih Hwa 4Th
Rd. Lin-Yuan Kaohsiung Hsien, Taiwan, R.O.C. |
|
Telephone Number |
+886-7-642-6311 |
|
Fax Number |
+886-7-641-8324 |
Core
Management
Directors
|
1 |
|
|
Name |
Dongsheng Wang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Mingyang Gao |
|
Position |
Executive
Director |
|
3 |
|
|
Name |
Liren Songtian
(Liberal Translation) |
|
Position |
Executive
Director |
|
Date of
Appointment |
2011-4-1 |
|
4 |
|
|
Name |
Qingjiu Shanben
(Liberal Translation) |
|
Position |
Director |
|
5 |
|
|
Name |
Yangcilang
Gaoqiao (Liberal Translation) |
|
Position |
Director |
|
6 |
|
|
Name |
Mao Tianyuan
(Liberal Translation) |
|
Position |
Director |
|
7 |
|
|
Name |
Zhongqian Wang |
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Position |
Director |
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8 |
|
|
Name |
Jingzhong Cai |
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Position |
Director |
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9 |
|
|
Name |
Dong Chen |
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Position |
Director |
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10 |
|
|
Name |
Kangren Xiju
(Liberal Translation) |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Donghui Wang |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 138 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
14FL., No.99, Sec.2, Jen Ai Rd., Jhongjheng District, Taipei 100,
Taiwan, R.O.C. |
Production
Information
l
Subject is a manufacturer of chemical products and etc.
l
It is introduced that subject
has a factory in Kaohsiung Hsien, Taiwan for production.
l
It is introduced that subject has obtained ISO
9002, ISO 9001, ISO 14001 and OHSAS 18001 certifications.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and sales of emulgator for
pesticide. |
|
-- |
Manufacturing and sales of active agent for the
surface of metal. |
|
-- |
Importing and exporting business (Besides licensed business) |
l
It is introduced that subject purchases raw
materials and etc both at home and abroad.
l
It is introduced that subject imports technologies
and skills from Japan an etc.
Sales
Information
l The subject is
mainly engaged in sales of chemical
products and etc.
l
It is introduced that
subject’s major products are 4 naphtha crackers (NC 3, NC 4, NC 5, and NC 6)
and etc.
l
It is introduced that
subject’s selling territory is covering all over the world.
l
It is introduced that
subject’s major customers are farms, manufactures of leathers, paper, textiles,
machinery, medicine, electronics and etc.
l
It is introduced that
subject’s products are applied to medicine, cosmetics, food, construction
materials and etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials
and etc |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials
and etc |
CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Chemical products and etc. |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Chemical products and etc. |
CBD and 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. Wang 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. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
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.