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Report Date : |
24.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
YEE FONG CHEMICAL
& INDUSTRIAL CO., LTD. |
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Registered Office : |
7F, No.310, |
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Country : |
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Date of Incorporation : |
05.09.1950 |
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Com. Reg. No.: |
15395706 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· Engaged in Manufacturing and sales of Inorganic chemicals & Organic Chemicals Products which are applied to Printing Circuit Board Industries, Food Processing Industries, Steel Industries, Metal Industries, Electric Wire & Cable Industries as well as Electronic Industries. Engaged in Manufacturing of precise chemicals materials. Engaged in Manufacturing of synthetic resin and
thermosetting plastic Engaged in Manufacturing of pesticide. Engaged in Manufacturing of industrial addition agent Engaged in Manufacturing of coating, pigment, dyes and
colors. |
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|
|
|
No of Employees : |
About 144 Employees |
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 – 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: |
|
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Supplied Address: |
Taoyuan Plant No
377 Haihu E Rd Lujhu Township Taoyuan County |
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Telephone Number: |
+886-2-2306-2131 |
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Fax Number: |
Notes: The supplied
address is the address of subject’s Taoyuan Plant, and the exact name and
headquarters’ address are as above.
|
Credit Opinion: |
Subject was incorporated on 1950-9-5 with registered number 15395706 as Joint Stock Company in Taiwan.
|
Name |
Subscription
Shares |
|
Qinwen Chen |
4,346,085 |
|
Jin Yi He Investment Co., Ltd (Liberal
Translation) |
|
|
5,908,154 |
|
|
Fangyao Chen |
3,960,786 |
|
Yanrong Cai |
606,500 |
|
Qinxiong Chen |
5,006,006 |
|
Beixun Investment Co., Ltd (Liberal
Translation) |
925,000 |
|
Xuanyan Investment Co., Ltd (Liberal
Translation) |
3,058,425 |
|
Junfu Chen |
924,280 |
|
Xiuyong Wu |
1,103,905 |
The information
above is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Jin Yi He Investment Co., Ltd (Liberal Translation) |
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Registered Address: |
No.41-2, Lane 167, Guoqing Rd., Banqiao Dist.,
New Taipei City, Taiwan (R.O.C.) |
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Date of Foundation: |
1990-8-14 |
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Registration Number: |
23825286 |
|
Registry: |
New Taipei City Government |
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Registered Capital: |
NTD 50,000,000 (USD 1,655,000) (As of 2014.7, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 50,000,000 (USD 1,655,000) |
|
Legal Representatives: |
Qingming Chen |
|
Legal Form: |
Joint Stock Company |
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Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-7-9 |
|
2 |
|
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Registered Name: |
Beixun Investment Co., Ltd (Liberal Translation) |
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Registered Address: |
1F., No.279, Kangding Rd., Wanhua Dist.,
Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
2008-2-1 |
|
Registration Number: |
28844332 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 29,000,000 (USD 959,900) (As of 2014.7, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 29,000,000 (USD 959,900) |
|
Legal Representatives: |
Wenhong Cai |
|
Legal Form: |
Joint Stock Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2012-9-17 |
|
3 |
|
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Registered Name: |
Xuanyan Investment Co., Ltd (Liberal Translation) |
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Registered Address: |
7F., No.310, Juguang Rd., Wanhua Dist.,
Taipei City, Taiwan (R.O.C.) |
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Date of Foundation: |
2004-12-12 |
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Registration Number: |
89994353 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 20,000,000 (USD 662,000) (As of 2014.7, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 20,000,000 (USD 662,000) |
|
Legal Representatives: |
Caiyu Zhouchen |
|
Legal Form: |
Joint Stock Company |
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Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-6-24 |
Factory
|
Name: |
Taoyuan Plant |
|
Address: |
No 377 Haihu E Rd Lujhu Township Taoyuan
County, Taiwan |
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Date of Foundation: |
1969-1-1 |
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Date of Registration: |
1978-5-22 |
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Factory Registration Number: |
99621602 |
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Factory Manager: |
Keming Li |
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Status: |
In Production |
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Date of Last Annual Return: |
2007-11-6 |
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Major Products: |
181 Basic
chemical materials 199 Other
chemical products 192 Coating, dyes and pigment |
|
Tel |
+886-3-354-1944 |
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Fax |
+886-3-354-1957 |
Core Management
|
1 |
|
|
Name |
Qinwen Chen |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Yipeng Wang |
|
Position |
Director |
|
3 |
|
|
Name |
Fanyao Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Yanrong Cai |
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Position |
Director |
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5 |
|
|
Name |
Qinxiong Chen |
|
Position |
Director |
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6 |
|
|
Name |
Keming Li |
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Position |
Director |
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7 |
|
|
Name |
Qinwei Chen |
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Position |
Director |
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8 |
|
|
Name |
Rongjin Zhuang |
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Position |
Director |
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9 |
|
|
Name |
Junfu Chen |
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Position |
Supervisor |
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10 |
|
|
Name |
Xiuyong Wu |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 144
Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
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 subject has obtained ISO
9001, ISO 14000 and OHSAS 18001 certifications.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Basic chemical industry. |
|
C801030 |
Manufacturing of precise chemicals
materials. |
|
C801100 |
Manufacturing of synthetic resin and
thermosetting plastic. |
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C802070 |
Manufacturing of pesticide. |
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C802120 |
Manufacturing of industrial addition
agent. |
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C802200 |
Manufacturing of coating, pigment, dyes
and colors. |
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D101050 |
Steam and electricity co-generation
system. |
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D401010 |
Supplying thermal energy. |
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F107010 |
Wholesales of vehicle and coating. |
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F107200 |
Wholesales of chemical raw materials. |
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F207010 |
Retails of vehicle and coating. |
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F207200 |
Retails of chemical raw materials. |
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F401010 |
International trading business. |
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G202010 |
Operation of parking lot. |
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H701010 |
Developing, renting and sales of residence
and building. |
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H701020 |
Developing, renting and sales of
industrial plant. |
|
H701050 |
Investing and building in public
construction. |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
It is introduced that subject purchases its raw
materials both at home and abroad.
l
It is introduced that subject imports some technologies
from Japan and etc.
Sales Information
l
The subject is mainly engaged in sales of
chemicals.
l
It is introduced that subject’s selling territory
includes Asia, America and etc.
l
It is introduced that subject’s major customers are
manufacturers of chemicals, electronics & plastic.
l
It is introduced that subject’s products are
applied to printing circuit board industries, food processing industries, steel
industries, metal industries, electric wire & cable industries as well as
electronic industries.
Major products
|
|
Product |
|
1 |
Inorganic chemicals |
|
2 |
Organic chemicals |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials and etc |
COD,
CBD and etc |
100% |
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials and etc |
CBD
and etc |
100% |
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 Mr. Chen 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
|
2012,Beijian, 9535 |
|
|
Date of Trial: |
2012-8-20 |
|
Reason: |
|
Name |
Mr. Chen |
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
: |
RAS |
|
|
|
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Report Prepared
by : |
MNL |
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.