|
Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KEMFAR CORPORATION |
|
|
|
|
Registered Office : |
2Fl-2., No.432, Sec.1, Keelung Road Taipei |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
09.05.1994 |
|
|
|
|
Com. Reg. No.: |
84780867 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of chemical products |
|
|
|
|
No. of Employees : |
About 10
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: |
Kemfar Corporation |
|
Supplied Name: |
Kemfar Corporation |
|
Trading Address: |
2Fl-2., No.432, Sec.1, Keelung Road Taipei,
Taiwan, R.O.C. |
|
Supplied Address: |
No 432, Sec 1 Keelung Road Suite 202 Taipei
11051 |
|
Telephone Number: |
+886-2-2722-9055 |
|
Fax Number: |
+886-2-2723-0184 |
|
E-mail: |
Notes: The exact address is as above.
|
Registered Name: |
KEMFAR CORPORATION |
|
Registered Address: |
2Fl-2., No.432, Sec.1, Keelung Road Taipei,
Taiwan, R.O.C. |
|
Date of Foundation: |
1994-5-9 |
|
Registration Number: |
84780867 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 12,000,000 (USD 408,000) (As of 2013.09, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Guotai Su |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1994-5-9 with registered number 84780867
as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Guotai Su |
8,400,000 |
The information above is that of subject’s major shareholders.
Office
|
Name: |
Kaohsiung Office |
|
Address: |
No.32, Hongping Road, Xiaogang District, Kaohsiung City, Taiwan,
R.O.C. |
|
Tel: |
+886-7-801-1807 |
|
Fax: |
+886-7-801-1396 |
Core Management
|
Name |
Guotai Su |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 10 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject is a trader of chemical products, etc without any production
activities.
Purchase
Information
The registered activities of subject:
|
1 |
General import and export business (besides licensed business) |
|
2 |
Agent, price quoting, bidding service of all kinds of above mentioned
items. |
Subject purchases products mainly from abroad and we obtain some of
subject’s suppliers’ information as follows for reference.
|
Supplier |
Origin |
|
Dow Corning Corporation |
|
|
REEDY |
|
|
CHEMAX |
|
|
SHELL |
UK |
|
DANSICO |
Denmark |
|
ATO/CECA |
France |
|
TRA |
Canada |
|
GEO |
USA |
|
SHOWA DENKO |
|
|
SINANEN |
Japan |
|
MITSUI |
|
|
TOEGOSEI |
Japan |
|
TOHO |
Japan |
|
DEGUSSA |
Germany |
|
TORAY |
Japan |
|
MITSUBISHI |
Japan |
Subject is engaged in sale of chemical
products, etc.
The major products sold by subject include lubricant, antioxidants,
antistatic agents, impact modifier, and anti-microbial agents, etc.
Subject’s sales region is major in Taiwan domestic market.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has
little domestic purchase.
Foreign Purchase
|
Terms |
Proportion |
|
|
Chemical
products |
L/C, T/T, etc |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Chemical
products |
Cash, T/T, etc |
100% |
Export
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. 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.62.35 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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.