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Report Date : |
10.09.2013 |
IDENTIFICATION DETAILS
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Name : |
UNITED RAW MATERIAL SOLUTIONS INC. |
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Registered Office : |
5F., No.35, Ln. 11, Guangfu N. Rd., Songshan
Dist., Taipei City 10560, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
17.11.2003 |
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Com. Reg. No.: |
80542219 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of plastic and petrochemical raw
materials. |
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No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 – 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
Notes: The exact name and address are as above.
|
Registered Name: |
United Raw Material Solutions Inc. |
|
Registered Address: |
5F., No.35, Ln. 11, Guangfu N. Rd., Songshan Dist., Taipei City 10560,
Taiwan (R.O.C.) |
|
Date of Foundation: |
2003-11-17 |
|
Registration Number: |
80542219 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 297,650,400
(USD 10,120,113.60) (As of 2013.04, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 115,850,680 (USD 3,938,923.12) |
|
Legal Representatives: |
Jinglun Lin |
|
Legal Form: |
|
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Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on 2003-11-17
with registered number 80542219
as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Jinglun Lin |
4,634,238 |
| Jingzhe
Lin |
422,672 |
|
Jingyuan Lin |
359,721 |
|
Qianhui Lin |
479,629 |
|
Yixiong Lin |
1,648 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
Formosa
Industries Corporation |
|
Address |
Nhon Trach 3
Industrial Zone, Nhon Trach District, Dong Nai Province, Vietnam |
|
2 |
|
|
Name |
Formosa
Chemicals & Fibre Corporation |
|
Address |
359, Chung Shan
Rd., Sec.3, Chuang Hwa City, Taiwan; Changhua County, Taiwan |
|
3 |
|
|
Name |
Formosa Plastics
Corporation |
|
Address |
201 Tung Hwa
North Rd, Taipei, Taiwan |
Core Management
Directors
|
1 |
|
|
Name |
Jinglun Lin |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jingzhe Lin |
|
Position |
Director |
|
3 |
|
|
Name |
Jingyuan Lin |
|
Position |
Director |
|
4 |
|
|
Name |
Qianhui Lin |
|
Position |
Supervisor |
|
5 |
|
|
Name |
Yixiong Lin |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 60 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
5F., No.35, Ln. 11, Guangfu N. Rd., Songshan Dist., Taipei City 10560,
Taiwan (R.O.C.) |
Production
Information
l
Subject is a trader of plastic and
petrochemical raw materials without any production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
Subject purchases products from both
home and abroad and we obtained some details information are as followed for
reference.
|
Type |
Product |
Supplier |
|
Textile raw materials |
PSF |
Tuntex Distinct Corp. |
|
Viscose |
Formosa Chemicals & Fibre Corporation |
|
|
DTY |
Tuntex Distinct Corp. |
|
|
POY |
Taiwan Polypropylene Co., Ltd |
|
|
Plastic raw material |
ABS |
Formosa Chemicals & Fibre Corporation Great Eastern Resins Industrial Co., Ltd Taita Chemical Co., Ltd |
|
EVA |
Formosa Plastics Corporation USI Corporation |
|
|
PP/PE |
Formosa Chemical & Fiber Corporation Formosa Plastics Corporation Korea Petrochemical Industrial Co., Ltd Taiwan Polypropylene Co., Ltd Titan Polyethylene (Malaysia) Sdn. Bhd TPI Polene Public Company Limited USI Corporation Yung Chia Chemical Industries Corporation Hanwha Corporation Siam Chemical Trading Daelim Corporation |
|
|
PS |
Eternal Chemical Formosa Chemicals & Fibre Corporation Supreme Petrochem LTD Taita Chemical Co., Ltd |
|
|
PVC |
Apex Petrochemical Co., Ltd China General Plastics Corp Hanwha Corporation Jiamin Textile Co., Ltd Korea Petrochemical Industrial Co., Ltd Formosa Plastics Corporation |
l
Subject is engaged in sales of plastic
and petrochemical raw materials, etc.
l
Subject’s sales regions include Asia,
Europe, Middle East, India and Pakistan, etc.
l
Subject’s major customers are textile
manufacturing, electronic products manufacturer and automobile manufacturer,
etc.
Major
products
|
Type |
Product |
|
Textile raw materials |
Polyester, Nylon, Viscose |
|
Plastic raw material |
EVA, PE, PP, PS, PVC, SAN, PA, PET |
|
Petrochemical raw materials |
PTA, MEG, PET CHIP, PX, 1.4BG, THF |
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
Interior
Settlement, T/T, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
T/T, L/C, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Raw materials |
Cash, T/T, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Raw materials |
T/T, L/C, 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. Zhang declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
|
1 |
|
|
Name |
CITI Bank |
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2 |
|
|
Name |
Far Eastern International Bank |
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3 |
|
|
Name |
Bank of Overseas Chinese |
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4 |
|
|
Name |
Bank of Shanghai |
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5 |
|
|
Name |
HSBC |
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 |
Ms. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
|
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
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.