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Report Date : |
21.07.2014 |
IDENTIFICATION DETAILS
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Name : |
POLYCHEM GLOBAL CORPORATION |
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Registered Office : |
6F., No.24, Lane 478, Ruiguang Rd., Neihu Dist., Taipei City 11492 |
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Country : |
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Date of Incorporation : |
03.08.2005 |
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Com. Reg. No.: |
27755310 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Distributor of plastics |
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No of Employees : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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.
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Source
: CIA |
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Company Name: |
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|
Supplied Name: |
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Trading Address: |
6F., No.24, Lane 478, Ruiguang Rd., Neihu Dist., Taipei City 11492,
Taiwan (R.O.C.) |
|
Supplied Address: |
6F, NO 24 LANE 478, RULGUANG RD, NEIHU DIST
TAIPEI CITY, TAIWAN |
|
Telephone Number: |
+886-2-2656-0830 |
|
Fax Number: |
+886-2-2656-0832 |
Note: Subject’s exact name and address are as
above, and the supplied name is not complete.
|
Registered Name: |
Polychem Global Corporation |
|
Registered Address: |
6F., No.24, Lane 478, Ruiguang Rd., Neihu Dist., Taipei City 11492,
Taiwan (R.O.C.) |
|
Date of Foundation: |
2005-8-3 |
|
Registration Number: |
27755310 |
|
Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2014.4, 1 NTD = 0.0333 USD) |
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Paid-up Capital: |
NTD 5,000,000 (USD 166,500) |
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Legal Representatives: |
Wenqin He |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
|
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Date of Last Annual Return: |
Subject was incorporated on 2005-8-3 with registered
number 27755310 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Wenqin He |
280,000 |
|
Ruican Jiang |
110,000 |
|
Tingyao Guo |
55,000 |
|
Taomei Liu |
55,000 |
The information
above is that of subject’s major shareholders.
|
1 |
|
|
Address |
Room A-204,Shang-Mira Commercial Centre, No. 2633 West YanAn Rd., Shanghai,
China |
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Tel: |
+86-21-5187-2700 |
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Fax: |
+86-21-6212-2389 |
|
2 |
|
|
Address |
Room 615, Unit 4, No. 7 Chengshihuayuan, No. 266, Dongcheng W. Rd.,
Dongguan, China |
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Tel: |
+86-769-2238-0762 |
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Fax: |
+86-769-2238-0763 |
|
3 |
|
|
Address |
Room 212, Donghuan Building,
No. 328, Donghuan Rd., Suzhou, China |
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Tel: |
+86-512-6712-6875 |
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Fax: |
+86-512-6712-6879 |
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4 |
|
|
Address |
Room 9-B5, Xinjinsui Building, No. 138 Jiefang N. Road, Ningbo, China |
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Tel: |
+86-574-8768-7516 |
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Fax: |
+86-574-8768-7517 |
Core
Management
|
1 |
|
|
Name |
Wenqin He |
|
Position |
Chairman of the Board |
|
2 |
|
|
Name |
Ruican Jiang |
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Position |
Director |
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3 |
|
|
Name |
Tingyao Guo |
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Position |
Director |
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4 |
|
|
Name |
Taomei Liu |
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Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Add |
6F., No.24, Lane
478, Ruiguang Rd., Neihu Dist., Taipei City 11492, Taiwan (R.O.C.) |
l
Subject is a distributor of plastics, etc. without
any production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F113010 |
Wholesale of machinery |
|
F113030 |
Wholesale of precious equipment |
|
F107200 |
Chemical raw materials wholesale |
|
F207170 |
Industrial additives retail |
|
F213040 |
Retail of machinery |
|
F213080 |
Retail of precious equipment |
|
F401010 |
International trade |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
l
The products are mainly purchased at Taiwan and
Mainland China.
l
It is introduced that subject mainly purchased
products from the following companies: Nan Ya Plastic Corporation, Formosa
Plastics Corporation, Formosa Chemical Corporation, Shinkong Synthetic Fibers
Corporation, Jiangsu Sanfangxiang Group Co., Ltd., etc.
l
The subject is mainly engaged sale of plastics, etc.
l
Subject’s major products
include engineering plastics, general plastics, chemicals, etc.
l
The main sales regions of
the subject are domestic market, Korea, India, Southeast Asia, Middle East,
Europe, South America, South Africa, etc.
The details of the products are as follows:
|
Product Category |
Name of the product |
|
Engineering plastics |
Polyethylene terephthalate, Polyamide, Polycarbonate, Modified
polyphenylene ether, Poly-Diphenyl sulfide, Condensation, Aromatic polyester
liquid crystal polymer, etc. |
|
General plastics |
Butadiene styrene ABS, Acrylonitrile - Acrylate – Styrene,
Polystyrene, Polymethyl methacrylate, Polyvinyl chloride, etc. |
|
Chemicals |
Bisphenol (bisphenol A), Butyrolactone, Epichlorohydrin,
Anhydride, Tetrahydrophthalic anhydride, Styrene, Dioctyl
phthalate, etc. |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
|
Product |
Terms |
Proportion |
|
Plastics, etc. |
Cash, T/T, etc. |
100% |
Foreign Purchase
Subject has little import.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Plastics, etc. |
Cash, T/T, etc. |
100% |
Export
|
Product |
Payment Terms |
Proportion |
|
Plastics, etc. |
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 declined to disclose its financials citing the
grounds of company’s confidentiality; from other source we cannot obtain the
relevant information, either.
Subject declined to disclose any information about bankers, and we can not
obtain the information from other source.
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. Liu |
|
Department |
Sales |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.33 |
|
|
1 |
Rs.103.18 |
|
Euro |
1 |
Rs.81.58 |
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.