MIRA INFORM REPORT

 

 

Report Date :

30.08.2014

 

IDENTIFICATION DETAILS

 

Name :

IMPERIAL CHEMICAL CORPORATION

 

 

Registered Office :

No.3, Hsing Kung Rd., Dashe Dist., Kaohsiung City 815

 

 

Country :

Taiwan

 

 

Date of Incorporation :

24.07.1992

 

 

Com. Reg. No.:

86802541

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturing and sale of chemicals

 

 

No of Employees :

80

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Taiwan

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are other major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, and following the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013 signed a free trade deal with New Zealand—Taipei’s first-ever with a country with which it does not maintain diplomatic relations—and in November inked a trade pact with Singapore. Negotiations continue on follow-on components of ECFA regarding trade in goods and a dispute resolution mechanism; a trade in services agreement is under review in the legislature. 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 overall trade surplus largely because of its surplus with China, and its foreign reserves are the world's sixth largest, behind China, Japan, Saudi Arabia, Russia, and Switzerland. 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. Taiwan since 2009 has gradually loosened rules governing Chinese investment on the island, and has also secured greater market access for its investors in the mainland. 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

 

 

Contact Points

 

Company Name:

IMPERIAL CHEMICAL CORPORATION

Supplied Name:

Imperial Chemical Corporation

Trading Address:

No.3, Hsing Kung Rd., Dashe Dist., Kaohsiung City 815, Taiwan (R.O.C.)

Supplied Address:

No 3 Hsing Kung Rd Ta She Dist Kaohsiung Hsiang

Telephone Number:

+886-7-351-3724

Fax Number:

+886-7-352-3550

E-mail:

impechem@ms16.hinet.net

Website:

www.impechem.com

Notes: Subject’s exact name and address are as above.

 

Company Identification Details

 

Registered Name:

Imperial Chemical Corporation

Registered Address:

No.3, Hsing Kung Rd., Dashe Dist., Kaohsiung City 815, Taiwan (R.O.C.)

Date of Foundation:

1992-7-24

Registration Number:

86802541

Registry:

Economic Development Board of Kaohsiung City Government

Registered Capital:

NTD 360,000,000 (USD 12,240,000)

(As of 2014.08, 1 NTD = 0.0340 USD)

Paid-up Capital:

NTD 360,000,000 (USD 12,240,000)

Legal Representatives:

Mingshan Jian

Legal Form:

Joint Stock Company

Principal Activities:

Manufacturing and sale of chemicals

Staff:

About 80 Employees

Listed at Stock Exchange:

No

Date of Last Annual Return:

2013-1-3

 

 

History

 

Subject was incorporated on 1992-7-24 with registered number 86802541 as Joint Stock Company in Taiwan.

 

 

Corporate Structure

 

Factory

Address:

No.3, Hsing Kung Rd., Dashe Dist., Kaohsiung City 815, Taiwan (R.O.C.)

Date of Registration:

1990-12-31

Factory Registration Number:

99662382

Factory Manager:

Zhenjing Xie

Status:

In Production

Date of Last Annual Return:

2013-6-6

Major Products:

181 basic chemical materials

199 other chemical products

 

Shareholders

 

Major Shareholders

 

Name

Subscription Shares   

 

Guang Tai Investment Co., Ltd(Literal Translation)

 

 

6,660,000

 

Jia Li Investment Co., Ltd

(Literal Translation)

8,976,000

Sheng Xing Investment Co., Ltd

(Literal Translation)

24,000

Shang Shun Investment Co., Ltd

(Literal Translation)

3,600,000

Da San Investment Co., Ltd

(Literal Translation)

3,600,000

Jinn Wei Engineering And Construction Co., Ltd.

5,400,000

Jia Xin Investment Co., Ltd

(Literal Translation)

3,240,000

 

Shareholder Information:

1

Registered Name:

Guang Tai Investment Co., Ltd (Literal Translation)

Registered Address:

6/F-1, No.118, Wufu 1st Road, Xinxing District, Kaohsiung City, Taiwan

Date of Foundation:

1998-2-18

Registration Number:

16127095

Registry:

Economic Development Board of Kaohsiung City Government

Registered Capital:

NTD 25,000,000 (USD 850,000)

(As of 2014.08, 1 NTD = 0.0340 USD)

Paid-up Capital:

NTD 25,000,000 (USD 850,000)

Legal Representatives:

Peiyi Liu

Legal Form:

Joint Stock Company

Date of Last Annual Return:

2014-8-11

2

Registered Name:

Jia Li Investment Co., Ltd (Literal Translation)

Registered Address:

15/F., No.29, Sec 1, Anhe Road, Da-an District, Taipei City, Taiwan

Date of Foundation:

1993-12-20

Registration Number:

84497320

Registry:

Taipei City Government

Registered Capital:

NTD 100,000,000 (USD 3,400,000)

(As of 2014.08, 1 NTD = 0.0340 USD)

Paid-up Capital:

NTD 100,000,000  (USD 3,400,000)

Legal Representatives:

Dewang Ji

Legal Form:

Joint Stock Company

Date of Last Annual Return:

2014-1-16

3

Registered Name:

Sheng Xing Investment Co., Ltd (Literal Translation)

Registered Address:

15/F., No.29, Sec 1, Anhe Road, Da-an District, Taipei City, Taiwan

Date of Foundation:

2000-12-18

Registration Number:

70480306

Registry:

Taipei City Government

Registered Capital:

NTD 28,000,000 (USD 952,000)

(As of 2014.08, 1 NTD = 0.0340 USD)

Paid-up Capital:

NTD 28,000,000 (USD 952,000)

Legal Representatives:

Dewang Ji

Legal Form:

Joint Stock Company

Date of Last Annual Return:

2013-12-26

4

Registered Name:

Shang Shun Investment Co., Ltd (Literal Translation)

Registered Address:

1/F., No.119, Wenxue West Road, Wenwu Li, Renwu District, Kaohsiung City, Taiwan

Date of Foundation:

1997-12-31

Registration Number:

16124013

Registry:

Economic Development Board of Kaohsiung City Government

Registered Capital:

NTD 3,500,000 (USD 119,000)

(As of 2014.08, 1 NTD = 0.0340 USD)

Paid-up Capital:

NTD 3,500,000 (USD 119,000)

Legal Representatives:

Wensheng Wang

Legal Form:

Joint Stock Company

Date of Last Annual Return:

2011-11-7

5

Registered Name:

Da San Investment Co., Ltd (Literal Translation)

Registered Address:

12/F-1, No.325, Sec 4, Zhongxiao East Road, Da-an District, Taipei City, Taiwan

Date of Foundation:

1997-10-8

Registration Number:

16165359

Registry:

Taipei City Government

Registered Capital:

NTD 28,000,000 (USD)

(As of 2014.07, 1 NTD = 0.0340 USD)

Paid-up Capital:

NTD 15,000,000 (USD )

Legal Representatives:

Huiwen Pan

Legal Form:

Joint Stock Company

Date of Last Annual Return:

2014-2-20

6

Registered Name:

Jinn Wei Engineering And Construction Co., Ltd.

Registered Address:

11F-2, No.116, Cheng Shin St., Tsoying Dist., Kaohsiung, Taiwan, R.O.C.

Date of Foundation:

1990-1-16

Registration Number:

23570404

Registry:

Economic Development Board of Kaohsiung City Government

Registered Capital:

NTD 100,000,000 (USD 3,400,000)

(As of 2014.08, 1 NTD = 0.0340 USD)

Paid-up Capital:

NTD 100,000,000 (USD 3,400,000)

Legal Representatives:

Kunlun Zhou

Legal Form:

Joint Stock Company

Date of Last Annual Return:

2012-12-6

7

Registered Name:

Jia Xin Investment Co., Ltd (Literal Translation)

Registered Address:

5/F., No.15, Minli Road, Sanmin District, Kaohsiung City, Taiwan

Date of Foundation:

2004-12-13

Registration Number:

27212908

Registry:

Economic Development Board of Kaohsiung City Government

Registered Capital:

NTD 5,000,000 (USD 170,000)

(As of 2014.08, 1 NTD = 0.0340 USD)

Paid-up Capital:

NTD 5,000,000 (USD 170,000)

Legal Representatives:

Anna Zhouhuang

Legal Form:

Joint Stock Company

Date of Last Annual Return:

2014-6-25

 

Management Information

 

Core Management

 

Directors

1

Name

Mingshan Jian

Position

Board Chairman

2

Name

Dewang Ji

Position

Director

3

Name

Shufang Gu

Position

Director

4

Name

Wensheng Wang

Position

Director

5

Name

Weizhong Ye

Position

Director

6

Name

Kunlun Zhou

Position

Director

7

Name

Shanwen Shi

Position

Director

8

Name

Xianjun Zhou

Position

Supervisor

 

Personnel Structure

 

Total Employees

About 80 Employees

 

 

Operation Information

 

Offices & Factories

 

 

Headquarters

Add

No.3, Hsing Kung Rd., Dashe Dist., Kaohsiung City 815, Taiwan (R.O.C.)

 

Production Information

 

·         Subject is engaged in manufacturing of chemicals

·         Subject has a factory in Kaohsiung, Taiwan for production.

·         Subject obtained the certifications of ISO 9001:2008 and ISO 14001:2004.

 

Purchase Information

 

·           The registered activities of subject:

Business Code

Details

C801010

Basic chemical industry

C801990

Manufacture of other chemical materials

C802170

Manufacture of toxic chemicals in

F113010

Wholesales of machinery

F213080

Retails of Machinery and Equipment.

F107060

Wholesales of toxic chemicals in

F107110

Wholesales of petrochemical materials

F119010

Wholesales of electronic materials

F401010

International trading business

E301010

Water treatment engineering

J101990

prevention and controlling services of other environmental pollution

 

·           The raw materials for production are purchased from both home and abroad such as Taiwan, Mainland China and Japan, etc.

·           It is introduced that subject has technical cooperation with many foreign companies such as Chelast (Japan), Ebara (Japan), Taekwang (South Korea) and Acrinor (Brazil), etc.

 

Sales Information

 

·         Subject is engaged in sale of chemicals

·         The major products sold by subject include acetonitrile, sodium cyanide, EDTA.2Na, EDTA.4Na, EDTA.acid and so on.

·         The products are applied to the industries of pharmacy, agriculture, electroplate and cosmetic

·         Subject’s sales regions include Asia, Europe and America, etc.

 

Import and export right:

Import right

Yes

Export right

Yes

 

 

Settlements

 

Purchase

 

1.       Domestic Purchase

Products

Raw materials

Payment Terms

Cash, T/T, etc

 

2.       Import

Products

Raw materials, chemicals

Payment Terms

T/T, etc

 

Sales

 

1.       Domestic Markets

Product

Chemicals

Selling Terms

Cash, T/T, etc

 

2.       Export

Product

Chemicals

Selling Terms

L/C, T/T, etc

 

 

Financial Information

 

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. Hong declined to disclose its financials citing the grounds of company’s confidentiality; from other sources we could not obtain such information, either.

 

Bankers

 

Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.

 

 

Public Record

 

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.

 

 

Special Note

 

Interview Details

Name

Ms. Hong

Department

Sales Department

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.47

UK Pound

1

Rs.100.35

Euro

1

Rs.79.86

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SMN

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.