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Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRIPLEX CHEMICAL CORP. |
|
|
|
|
Registered Office : |
No.301 Songkiang Road, 7th Fl. Taipei, |
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|
|
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Country : |
Taiwan |
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|
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Date of Incorporation : |
15.10.1990 |
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Com. Reg. No.: |
23827741 |
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|
|
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Legal Form : |
Joint Stock Company |
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|
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Line of Business : |
Manufacturing and sales of chemical materials |
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|
|
|
No. of Employees |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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: |
|
|
Supplied Address: |
|
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Telephone Number: |
+886-2-2306-2131 |
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Fax Number: |
Notes: The exact name and address are as above.
Subject was incorporated on 1990-10-15 with registered number 23827741 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Chang Chun Petrochemical Co., Ltd. |
24,999,571 |
|
Yee Fong Chemical &
Industrial Co., Ltd. |
|
|
25,000,000 |
|
|
Zheng Zheng |
143 |
|
Xiandong Lin |
143 |
|
Longxing Liao |
143 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
|
|
Registered Address: |
7F No.301, Songkiang Rd., 7th Fl., Taipei. Taiwan R.O.C. |
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Date of Foundation: |
1964-7-10 |
|
Registration Number: |
11384806 |
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Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
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Registered Capital: |
NTD 5,090,293,860 (USD 168,488,727) (As of 2014.6, 1 NTD = 0.0331 USD) |
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Paid-up Capital: |
NTD 5,090,293,860 (USD 168,488,727) |
|
Legal Representatives: |
Longxing Liao |
|
Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2013-12-30 |
|
2 |
|
|
Registered Name: |
Yee Fong Chemical & Industrial Co., Ltd. |
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Registered Address: |
7F, No.310, Chukwang Rd., Taipei Taiwan R.O.C. |
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Date of Foundation: |
1950-9-5 |
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Registration Number: |
15395706 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 804,804,870 (USD 26,639,041) (As of 2014.6, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 804,804,870 (USD 26,639,041) |
|
Legal Representatives: |
Qingwen Chen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
Yes; Stock Symbol:1772 |
|
Date of Last Annual Return: |
2012-12-26 |
Factory
|
Address: |
No.85, Haishan Central St., Taoyuan County, Taiwan (R.O.C.) |
|
Date of Foundation: |
1990-12-18 |
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Date of Registration: |
1995-1-20 |
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Factory Registration Number: |
99621093 |
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Factory Manager: |
Rongjin Zhuang |
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Status: |
In Production |
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Date of Last Annual Return: |
2006-1-18 |
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Major Products: |
182 Petrochemicalmaterials |
Core Management
Directors
|
1 |
|
|
Name |
Xinyi Zheng |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Keming Li |
|
Position |
Director |
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3 |
|
|
Name |
Qingwen Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Rongjin Zhuang |
|
Position |
Director |
|
5 |
|
|
Name |
Zheng Zheng |
|
Position |
Director |
|
6 |
|
|
Name |
Xiandong Lin |
|
Position |
Director |
|
7 |
|
|
Name |
Longxing Liao |
|
Position |
Supervisor |
|
8 |
|
|
Name |
Qingsheng Chen |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 60 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
Subject is a manufacturer of chemical materials and etc.
It is introduced that subject has a factory in Taiwan for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing, processing and sales of epoxy chloropropane and its products. |
|
-- |
Importing and exporting trading business of chemical products. |
It is introduced that subject its raw materials mainly from in domestic market and imports some technologies from the company named “SHOWA DENKO K.K” in Japan.
The subject is mainly engaged in sales of chemical materials and etc.
It is introduced that subject’s major products are epoxy chloropropane and etc.
It is introduced that subject’s selling territory is in Asia and etc.
It is introduced that subject’s major customers are chemical industry and etc.
It is introduced that subject’s products are applied to the ethoxyline resin, glycerin, chemical solvent and etc.
It is introduced that subject’s minimal quantity order to export is one container.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw material and etc |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Technologies and etc |
CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Chemical materials and etc. |
T/T and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Chemical materials and etc. |
L/C 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. Fei 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
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
050038 |
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Debtor Name: |
Triplex Chemical Corp. |
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Document Number: |
465542 |
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Date of Registration: |
1996/1/20 |
|
Status: |
Paid off |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Mr. Fei |
|
Department |
Sales Department |
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.12 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.81.43 |
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 |
-- |
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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.