|
Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAIREN CHEMICAL CORPORATION |
|
|
|
|
Registered Office : |
7th Fl., No.301, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
30.06.1979 |
|
|
|
|
Com. Reg. No.: |
12233428 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of chemicals. |
|
|
|
|
No. of Employees |
1,000 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
Taiwan, No 19-2, Huaxi Rd, Daliao Dist, Kaohsiung City 83164 |
|
Telephone Number: |
+886-2-7743-1500 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact
name and address are as above. The supplied name and address belongs to
subject’s Ta-Fa Factory.
Subject was incorporated on 1979-6-30 with registered number 12233428 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Longxing Liao |
1,919,933 |
|
Qingyuan Huang |
|
|
3,735,286 |
|
|
Xinyi Zheng |
1,817,927 |
|
Heqing Huang |
2,260,190 |
|
Shuhong Lin |
1,049,407 |
|
Qiongyu Liao |
662,320 |
|
Chang Chun Petrochemical Co., Ltd. |
56,849,844 |
|
Taichang Tanghuang |
2,536,354 |
|
Tianran Huang |
592,214 |
|
Xiandong Lin |
1,556,428 |
|
Xianzhang Chen |
459,851 |
|
Zheng Zheng |
1,414,933 |
|
Hedong Huang |
2,249,878 |
|
Limin Huang |
290,973 |
|
Hezhou Huang |
2,247,890 |
|
Anxian Lu |
94,869 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
Registered Name: |
Chang Chun Petrochemical Co., Ltd. |
|
Registered Address |
7th Fl, No.301, Songkiang Road, Taipei Taiwan R.O.C. |
|
Telephone Number: |
+886-2-2503-8131 |
|
Fax Number: |
+886-2-2503-3378 |
|
Registration Number |
11384806 |
|
Date of Foundation: |
1964-7-10 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 5,090,293,860 (USD 170,524,844) (As of 2014.03, 1 NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 5,090,293,860 (USD 170,524,844) |
|
Legal Representatives: |
Longxing Liao |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-12-20 |
Related Companies
|
1 |
|
|
Name |
CCD (Singapore) Pte Ltd |
|
Address |
29 Tembusu Avenue, Jurong Island, Singapore 627535 |
|
Telephone Number |
+65-6515-5060 |
|
Fax Number |
+65-6515-4307 |
|
2 |
|
|
Name |
Chang Chun Dairen Chemical (Pan Jin) Co., Ltd |
|
Address |
1106, Hon-Guan building, LiaoBin Economic Zone, Pan-Jin, Liao-Nin,China |
|
Telephone Number |
+86-427-677-5001 |
|
Fax Number |
+86-427-677-5012 |
|
3 |
|
|
Name |
Chang Chun Plastics Co., Ltd. |
|
Address |
No.301 Songkiang Road, 7th Floor, Taipei 104 Taiwan |
|
4 |
|
|
Name |
Chang Chun Petrochemical Co., Ltd. |
|
Address |
No.301 Songkiang Road, 7th Floor, Taipei 104 Taiwan |
|
5 |
|
|
Name |
Nan Pao Resins Chemical Co., Ltd. |
|
Address |
12, Nan Hai Village, Shee Kang Shang, Tainan, Taiwan, R.O.C |
Subsidiaries
|
1 |
|
|
Name |
Dairen Chemical (M) Sdn. Bhd. |
|
Address |
PLO 18, Tanjung Langsat Industrial Estate, Mukim Sg. Tiram, 81700 Pasir Gudang, Johor, Malaysia |
|
Telephone Number |
+60-7-256-5800 |
|
Fax Number |
+60-7-256-5799 |
|
2 |
|
|
Name |
Dairen Chemical (Jiangsu) Co., Ltd. |
|
Address |
No.1 Dalian Road, Yangzhou Chemical Industry Park,211900 Yangzhou, Jiangsu, China |
|
Telephone Number |
+86-514-8326-8888 |
|
Fax Number |
+86-514-8329-8855 |
Branch Company
|
Name |
Mailiao Branch |
|
Address |
No.25 Formosa Industrial Park, Sansheng Village, Mailiao Township, Yunlin County |
|
Registration Number |
70760067 |
|
Date of Registration |
1999-12-27 |
|
Manager Name |
Xianzhang Chen |
|
Date of Last Annual Return |
2002-5-7 |
Factories
|
1 |
|
|
Name: |
Mailiao Factory |
|
Address: |
No.25 Formosa Industrial Park, Sansheng Village, Mailiao Township, Yunlin County |
|
Telephone Number |
+886-5-681-2201 |
|
Fax Number |
+886-5-681-2212 |
|
Date of Foundation: |
2001-3-7 |
|
Date of Registration: |
2001-11-1 |
|
Factory Registration Number: |
99653185 |
|
Factory Manager: |
Zhiquan Cai |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2012-8-23 |
|
Major Products: |
182 Petrochemical materials |
|
Factory Area |
About 84,459 square meters |
|
2 |
|
|
Name: |
Kaohsiung Factory |
|
Address: |
1-3 Hsing-Kung Road Ta-She Industrial Zone 815 Kaohsiung, Taiwan |
|
Telephone Number |
+886-7-351-4151 |
|
Fax Number |
+886-7-351-4090 |
|
Date of Foundation: |
1983-7-26 |
|
Date of Registration: |
1990-12-31 |
|
Factory Registration Number: |
99661598 |
|
Factory Manager: |
Laixun Ye |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2007-12-24 |
|
Major Products: |
181 Basic chemical material 184 Synthetic resin, plastic and rubber |
|
Factory Area |
About 42,180 square meters |
|
3 |
|
|
Name: |
Ta-Fa Factory |
|
Address: |
No.19-2, Huaxi Rd., Daliao Dist., Kaohsiung City 831, Taiwan (R.O.C.) |
|
Date of Foundation: |
1988-8-31 |
|
Date of Registration: |
1999-2-9 |
|
Factory Registration Number: |
99661626 |
|
Factory Manager: |
Mingzhao Li |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-7-22 |
|
Major Products: |
199 Other chemical products |
Core Management
Directors
|
1 |
|
|
Name |
Longxing Liao |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Qingyuan Huang |
|
Position |
Vice Chairman |
|
3 |
|
|
Name |
Xinyi Zheng |
|
Position |
Executive Director |
|
4 |
|
|
Name |
Heqing Huang |
|
Position |
Executive Director |
|
5 |
|
|
Name |
Shuhong Lin |
|
Position |
Managing Director |
|
6 |
|
|
Name |
Qiongyu Liao |
|
Position |
Director |
|
7 |
|
|
Name |
Rongzong Chen |
|
Position |
Director |
|
8 |
|
|
Name |
Taichang Tanghuang |
|
Position |
Director |
|
9 |
|
|
Name |
Tianran Huang |
|
Position |
Director |
|
10 |
|
|
Name |
Xiandong Lin |
|
Position |
Director |
|
11 |
|
|
Name |
Xianzhang Chen |
|
Position |
Director |
|
12 |
|
|
Name |
Zheng Zheng |
|
Position |
Director |
|
13 |
|
|
Name |
Hedong Huang |
|
Position |
Director |
|
14 |
|
|
Name |
Limin Huang |
|
Position |
Director |
|
15 |
|
|
Name |
Shiguang Su |
|
Position |
Supervisor |
|
16 |
|
|
Name |
Hezhou Huang |
|
Position |
Supervisor |
|
17 |
|
|
Name |
Jinjun Cai |
|
Position |
Supervisor |
|
18 |
|
|
Name |
Kunyuan Huang |
|
Position |
Supervisor |
|
19 |
|
|
Name |
Anxian Lu |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 1,000 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
Subject is a manufacturer of chemicals and etc.
It is introduced that subject has factories in Taiwan, mainland China, and Malaysia for production; the detail information is as follows for reference:
|
1 |
|
|
Name: |
Ta-Fa Factory |
|
Area (square meters): |
129,151 |
|
Main Products: |
1,4 Butanediol, 2-Methyl-1,3-Propanediol, n-Propanol, iso-Butanol, Alkoxylated 2-Methyl-1,3-Propanediol, Polytetramethylene-Ether-Glycol, Tetrahydrofuran |
|
2 |
|
|
Name: |
Kaohsiung Factory |
|
Area (square meters): |
42,180 |
|
Main Products: |
Vinyl Acetate Monomer, Ethyl Acetate, Nitrogen, Allyl Alcohol, Liquefied Carbon Dioxide, Vinyl Acetate-Ethylene Emulsion, Vinyl Acetate-Ethylene Redispersible Powder |
|
3 |
|
|
Name: |
Mai-Liao Factory |
|
Area (square meters): |
84,459 |
|
Main Products: |
Vinyl Acetate, Allyl Alcohol, 1,4-Butanediol, 2-Methyl- 1,3-Propanediol, n-Propanol, iso-Butanol, Polytetramethylene-Ether-Glycol, Tetrahydrofuran, Liquefied Carbon Dioxide |
It is introduced that subject has obtained ISO9002, ISO 14001, OHSAS 18001, OHSAS 18001, ISO 9001: 2000 and etc certifications.
Subject’s production capacities as follows for reference:
Unit: MT
|
Product |
Annual Capacity |
|
Vinyl Acetate |
1000,000 |
|
EVA Emulsion |
330,000 |
|
VAE Powder |
52,000 |
|
EVCL(EVA-VC / EVCL) |
11,000 |
|
Vinyl Acetate |
30,000 |
|
Nitrogen |
35,000 |
|
Liquefied Carbon Dioxide |
28,000 |
|
Allyl Alcohol |
740,000 |
|
1,4-Butanediol |
630,000 |
|
2-Methyl- 1,3-Propanediol |
126,000 |
|
n-Propanol |
63,000 |
|
iso-Butanol |
63,000 |
|
AMPO |
500 |
|
Polyteramethylene-Ether-Glycol |
300,000 |
|
Tetrahydrofuran |
510,000 |
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and sales of vinyl acetate, acetic ether, oxygen, nitrogen, ethylene, methylpropanediol, polytetramethylene ether glycol, carbon dioxide, propenyl, propyl alcohol, and hydrogen |
|
-- |
Import and export of above products |
|
C801010 |
Manufacturing of basic chemicals |
|
C801020 |
Manufacturing of petrochemical materials |
|
C801030 |
Manufacturing of precision chemical materials |
|
C801040 |
Manufacturing of synthetic resin |
|
C801050 |
Manufacturing of plastic raw material |
|
C801060 |
Manufacturing of synthetic rubber |
|
C801070 |
Manufacturing of high pressure gas |
|
C802020 |
Manufacturing of artificial fiber |
|
C802030 |
Manufacturing of coating and paint |
|
C802120 |
Manufacturing of industrial additive |
|
C901060 |
Manufacturing of fireproofing |
|
C802120 |
Manufacturing of fertilizer |
|
C802170 |
Manufacturing of toxic chemical substances |
|
CC01010 |
Manufacturing of generator, transmission, and power distribution machinery |
|
CC01050 |
Manufacturing of data storage and process equipment |
|
CC01080 |
Manufacturing of electronic components |
|
E599010 |
Piping engineering |
|
I601010 |
Leasing industry |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
It is introduced that raw materials for production are purchases from both home and abroad.
It is introduced that subject imports technology from German and Japan.
The subject is mainly engaged in sales of chemicals, etc.
The products are applied to the industries of electronic, plastic rubber, textile, paint and automobile, etc.
Subject’s sales regions include Asia, Europe and America, etc.
Subject’s major customers are Speciality Construction Brands Inc. and URMI Chemicals (India), etc.
Major Products
|
|
Product |
|
1 |
Vinyl Acetate |
|
2 |
Vinyl Acetate-Ethylene Copolymer Emulsion |
|
3 |
Ethylene-Vinyl Acetate-Vinyl Chloride Emulsion |
|
4 |
Ethylene-Vinyl Chloride Emulsion |
|
5 |
Vinyl Acetate-Ethylene Redispersible Powder |
|
6 |
Ethyl Acetate |
|
7 |
Nitrogen |
|
8 |
Liquefied Carbon Dioxide |
|
9 |
Allyl Alcohol |
|
10 |
1,4-Butanediol |
|
11 |
2-Methyl- 1,3-Propanediol |
|
12 |
n-Propanol |
|
13 |
iso-Butanol |
|
14 |
Alkoxylated 2-Methyl-1,3-Propanediol |
|
15 |
Polytetramethylene-Ether-Glycol |
|
16 |
Tetrahydrofuran |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase (Taiwan and Mainland, China)
|
Terms |
Proportion |
|
|
Raw material, etc |
Cash, T/T, Credit Sales, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Raw material, etc |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Chemicals |
Cash, T/T, Credit Sales, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Chemicals |
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. Wang introduce subject’s revenue is about USD 1,400,000,000 in 2013.
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
023772 |
|
Debtor Name: |
Dairen Chemical Corporation |
|
Document Number: |
230530 |
|
Date of Registration: |
1985-7-27 |
|
Date of Alteration: |
1985-7-27 |
|
Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
062612 |
|
Debtor Name: |
Dairen Chemical Corporation |
|
Document Number: |
534404 |
|
Date of Registration: |
1999-7-20 |
|
Status: |
Paid off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
074539 |
|
Debtor Name: |
Dairen Chemical Corporation |
|
Document Number: |
09105153690 |
|
Date of Registration: |
2002-11-26 |
|
Status: |
Paid off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
091316 |
|
Debtor Name: |
Dairen Chemical Corporation |
|
Document Number: |
09605126370 |
|
Date of Registration: |
2007-7-2 |
|
Status: |
Paid off |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.22 |
|
|
1 |
Rs.102.79 |
|
Euro |
1 |
Rs.81.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.