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Report Date : |
24.07.2014 |
IDENTIFICATION DETAILS
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Name : |
TAIWAN CHLORINE
INDUSTRIES LTD. |
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Registered Office : |
No.25, |
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Country : |
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Date of Incorporation : |
22.12.1986 |
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Com. Reg. No.: |
22318516 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· Engaged in manufacturing and sales of Liquid Chlorine, Caustic Soda (Liquid and Solid), Bleach, Hydrochloric Acid, Hydrogen and Sodium Hypochlorite Products which are applied to Electronic Industry, Water Treatment, and Food Industry Engaged in processing
and sales of Dilute Sulphuric
Acid. |
|
|
|
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No of Employees : |
Not Available |
RATING & COMMENTS
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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 |
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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 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.
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Source : CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.25,Chung Chih
Street, Hsiao Kang District, Kaohsiung, Taiwan, R.O.C. |
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Supplied Address: |
|
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Telephone Number: |
+886-7-871-5171 |
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Fax Number: |
Notes: The exact name and
address are as above.
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Credit Opinion: |
Notes:
Subject declined to disclose its staff number; from
other source we cannot obtain the relevant information, either.
Subject was incorporated on 1986-12-22 with registered number 22318516 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
China Petrochemical Development
Corporation |
6,400,000 |
|
Eagle US 2 LLC |
|
|
9,600,000 |
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The information above is that of subject’s major shareholders.
Shareholder
Information:
|
Registered Name: |
China Petrochemical Development Corporation |
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Registered Address: |
8-11F, No.12, Tunghsing Road, Taipei,
Taiwan, R.O.C. |
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Date of Foundation: |
1969-7-8 |
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Registration Number: |
03084741 |
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Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
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Registered Capital: |
NTD 26,000,000,000 (USD 860,600,000) (As of 2014.7, 1 NTD = 0.0331 USD) |
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Paid-up Capital: |
NTD 23,199,896,660 (USD 767,916,579) |
|
Legal Representatives: |
Qingjing Shen |
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Legal Form: |
Joint Stock Company |
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Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-8-15 |
Factory
|
Address: |
No.25,Chung Chih Street, Hsiao Kang
District, Kaohsiung, Taiwan, R.O.C. |
|
Date of Foundation: |
1987-6-22 |
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Date of Registration: |
1988-9-6 |
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Factory Registration Number: |
64004396 |
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Factory Manager: |
Yihai Li |
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Status: |
In Production |
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Date of Last Annual Return: |
2011-3-7 |
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Major Products: |
089 Other food 199 Other chemical products |
Core Management
|
1 |
|
|
Name |
Qingjing Shen |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Keming Lin |
|
Position |
Director |
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3 |
|
|
Name |
Jianzheng yan |
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Position |
Director/Manager |
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Date of Appointment |
2003-8-12 |
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4 |
|
|
Name |
Joseph Charles Breunih |
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Position |
Director |
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5 |
|
|
Name |
Timothy Mann Jr. |
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Position |
Director |
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6 |
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|
Name |
Michael Robert Brugger |
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Position |
Director |
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7 |
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|
Name |
Jiansong Yu |
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Position |
Supervisor |
Offices &
Factories
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|
Headquarters |
|
Add |
No.25,Chung Chih Street, Hsiao Kang
District, Kaohsiung, Taiwan, R.O.C. |
Production
Information
l
Subject is a manufacturer of chemicals.
l
It is introduced that subject has a factory in
Taiwan for production.
l
It is introduced that the annual capacity of liquid
chlorine is about 120,000 tons.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
manufacturing and sales of Chemicals such as Liquid chlorine, caustic soda (liquid and solid), Bleach, hydrochloric acid, hydrogen and sodium hypochlorite products which are applied to electronic industry, water treatment, and food industry |
|
-- |
Processing and sales of dilute sulphuric
acid. |
|
-- |
General importing and exporting and agent
of domestic and overseas manufacturers. |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
|
F107100 |
Wholesales of basic chemical materials. |
l
It is introduced that subject purchases its raw
materials and etc mainly in domestic market.
l
The subject is mainly engaged in sales of
chemicals.
l
It is introduced that subject’s selling territory
are both at home and abroad.
l
It is introduced that subject’s major customers are
manufacturing of plastic items, paper, electronic products, cleaning supplies
and etc.
l
It is introduced that subject’s products are
applied to electronic industry, water treatment, and food industry
Major Products
|
|
Product |
|
1 |
Liquid Chlorine |
|
2 |
Caustic soda |
|
3 |
Hydrochloric Acid |
|
4 |
Bleach |
|
5 |
Hydrogen |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials and etc |
COD,
CBD and etc |
100% |
Foreign Purchase
The subject has little
import.
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Chemicals
and etc. |
COD,
CBD and etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Chemicals and etc. |
CBD and 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. Zheng 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
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. Zheng |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.18 |
|
UK Pound |
1 |
Rs.102.68 |
|
Euro |
1 |
Rs.81.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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.