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Report Date : |
03.10.2013 |
IDENTIFICATION DETAILS
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Name : |
CHUNG-RHY SPECIAL PAPER MFG. CO., LTD. |
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Registered Office : |
No.737, Chung Shan Road, Sec.3, Puli, Nantow |
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Country : |
Taiwan |
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Date of Incorporation : |
23.11.1967 |
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Com. Reg. No.: |
62014308 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of paper products |
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No. of Employees : |
About 200 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 |
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Company Name: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
+886-49-291-3025 |
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Fax Number: |
+886-49-291-3367 |
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E-mail: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1967-11-23 with registered number 62014308
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Taosheng Chen |
4,971,534 |
|
Yuzhong Chen |
2,742,240 |
|
Fanglan Wang |
4,172,191 |
|
Yunxuan Chen |
678,470 |
|
Cuihua Chen |
2,239,593 |
|
Ruihui Chen |
494,244 |
The information above is that of subject’s major shareholders.
Offices
|
1 |
|
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Name: |
Taichung Office |
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Address: |
No.256, Kun-I Rd., Taichung City, Taiwan, R.O.C. |
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Tel: |
+886-4-2321-2856 |
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Fax: |
+886-4-2321-2867 |
|
2 |
|
|
Name: |
New Taipei City Office |
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Address: |
No. 5, Wu-Chuan 2nd Rd. Wu-Ku Industrial Park, We-Ku Hsiang, New
Taipei City, Taiwan, R.O.C |
|
Tel: |
+886-2-2299-0977 |
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Fax: |
+886-2-2299-5400 |
Factories
|
1 |
|
|
Name: |
Chung-Rhy Special Paper Mfg. Co., Ltd. |
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Address 1: |
No.737, Chung Shan Road, Sec.3, Puli, Nantow, Taiwan R.O.C. |
|
Address 2: |
No.982, Nanhuan Road, Puli, Nantow, Taiwan R.O.C. |
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Date of Foundation: |
1978-10-28 |
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Date of Registration: |
1983-1-11 |
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Factory Registration Number: |
99652820 |
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Factory Manager: |
Taosheng Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2011-7-28 |
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Major Products: |
151 Pulp, paper, paperboard 159 Other paper product |
|
2 |
|
|
Name: |
Chung-Rhy Special Paper Mfg. Co., Ltd. 2nd
Factory |
|
Address: |
No.739, Chung Shan Road, Sec.3, Puli, Nantow, Taiwan R.O.C. |
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Date of Foundation: |
1969-1-1 |
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Factory Registration Number: |
99652542 |
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Factory Manager: |
Taosheng Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2010-11-9 |
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Major Products: |
159 Other paper product |
Branch Companies
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1 |
|
|
Name |
Kaohsiung Branch |
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Address |
No.28-3, Tianjin Street, Kaohsiung City, Taiwan, R.O.C. |
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Tel: |
+886-7-311-0331 |
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Fax: |
+886-7-311-0853 |
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Registration Number |
76331873 |
|
Date of Registration |
1981-2-21 |
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Status |
Live Company |
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Manager Name |
Taosheng Chen |
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Date of Last Annual Return |
1991-1-17 |
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2 |
|
|
Name |
Taipei Branch |
|
Address |
2nd Floor, No.42, Sec 2, Chang-An East Road, Taipei City,
Taiwan, R.O.C. |
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Registration Number |
04455360 |
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Date of Registration |
1975-1-6 |
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Status |
Live Company |
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Manager Name |
Taosheng Chen |
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Date of Last Annual Return |
1994-10-4 |
Related Company
|
Name |
Chang Chuen Cotton Paper Mfg., Co., Ltd. |
|
Address |
No.735, Chung Shan Road, Sec.3, Puli, Nantow, Taiwan R.O.C. |
|
Tel: |
+886-4-2321-2856 |
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Fax: |
+886-4-2321-2867 |
Core Management
Directors
|
1 |
|
|
Name |
Taosheng Chen |
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Position |
Board Director |
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2 |
|
|
Name |
Yuzhong Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Fanglan Wang |
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Position |
Director |
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4 |
|
|
Name |
Yunxuan Chen |
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Position |
Director |
|
5 |
|
|
Name |
Cuihua Chen |
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Position |
Director |
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6 |
|
|
Name |
Ruihui Chen |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 200 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject is engaged in manufacturing of paper products, etc.
Subject has factories in Nantow
County, Taiwan for production.
Subject obtained the certifications of ISO
9001, ISO 9002 and ISO 14001.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
|
F106020 |
Wholesale of daily supplies |
|
F109070 |
Wholesale of Retail of stationery, musical instrument, recreational
supplies |
|
F113010 |
Wholesale of machinery |
|
F206020 |
Retail of daily supplies |
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F209060 |
Retail of stationery, musical instrument, recreational supplies |
|
F401010 |
International trade business |
|
C601010 |
Manufacturing of pulp |
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C601020 |
Manufacturing of paper |
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C601030 |
Manufacturing of paper container |
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C601040 |
Manufacturing of converted paper |
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C601050 |
Manufacturing of household and sanitary paper |
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C601990 |
Other paper products |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
The raw materials for production are mostly purchased in domestic
market.
Sales Information
Subject is engaged in sale of paper
products, etc.
Subject’s sales regions include domestic market, Japan, Southeast Asia,
Europe and America, etc.
Subject’s major customers are Item Concept Marketing, Inc and Jia Nan
Enterprises (U.S.A.) Inc.
It is introduced that subject’s annual revenue is about USD 15,000,000
in 2012.
Major products
|
Type |
Product |
|
Functional Paper |
Cable Covering Paper Fire Retardant Materials Tape Base Paper Heat-Sealable Paper Active Carbon Fiber Paper Industrial Packaging Paper Filter Paper Construction Materials Reusable Dehumidification Card Humidity Indicator Paper |
|
Fancy Paper |
Wrapping Paper Fine Paper Book Binding Paper |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials,
etc |
Cash, T/T, etc |
100% |
Foreign Purchase
Subject has little
import.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Paper products,
etc |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Paper products,
etc |
L/C, T/T, 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.
Xie 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
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
057883 |
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Debtor Name: |
Chung-Rhy Special Paper Mfg. Co., Ltd. |
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Document Number: |
824447 |
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Date of Registration: |
1998-5-8 |
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Date of Alteration: |
-- |
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Status: |
Pay off |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
|
Name |
Ms. Xie |
|
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 |
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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.