|
Report Date : |
20.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHANG CHUN
PLASTICS CO., LTD. |
|
|
|
|
Registered Office : |
No.301, Songkiang Road, 7th Fl.,
Taipei |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
28.12.1957 |
|
|
|
|
Com. Reg. No.: |
11384708 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
· engaged in manufacturing & sale of chemicals are applied to the industries of textile, coating, semiconductor, electronic, paper & plastic · Engaged in manufacturing and sale of synthetic resin · Engaged in manufacturing of green sheet · Engaged in manufacturing and sale of insulation paper, melamine and cyanoacrylate adhesives |
|
|
|
|
No of Employees : |
·
About 2,000 Employees (Company) ·
About 5,000 Employees (Group) |
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: |
|
|
Telephone Number: |
|
|
Fax Number: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was
incorporated on 1957-12-28 with registered number 11384708 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Longxing Liao |
18,896,908 |
|
Xinyi Zheng |
52,360,536 |
|
Shuhong Lin |
13,560,326 |
|
Xiandong Lin |
16,117,422 |
|
Zheng Zheng |
16,866,309 |
|
Qiongyu Liao |
13,653,060 |
|
Xuanyi Liao |
2,321,209 |
|
Rongzong Chen |
113,597 |
|
Qingrong Lin |
11,091,581 |
|
Xin-ai Zheng |
15,581,548 |
The information above is that of subject’s major shareholders.
Factories
|
1 |
|
|
Name: |
Hsin-Chu Factory |
|
Address: |
No.8, Chung Hua Road, Fong Shan Village, Hu-Kou Industrial
Park, Hsin-Chu |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1969-8-1 |
|
Factory Registration Number: |
99630352 |
|
Factory Manager: |
Yisen Wang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-4-8 |
|
Major Products: |
181
basic chemical material 184
synthetic resin, plastic, rubber 199
other chemical products 243
copper 263
printed circuit board 339 other product |
|
2 |
|
|
Name: |
Shibei Factory |
|
Address: |
No.1, Jianmin Road, Wenlin Li, Beitou District, Taipei
City, Taiwan |
|
Date of Foundation: |
1958-12-3 |
|
Date of Registration: |
1959-3-3 |
|
Factory Registration Number: |
63020496 |
|
Factory Manager: |
Qingrong Xie |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2007-2-1 |
|
Major Products: |
181 basic chemical material |
|
3 |
|
|
Name: |
Mailiao Factory |
|
Address: |
No.27, Formosa Industrial Park, Sansheng Village, Miaoliao
Township, Yunlin County, Taiwan |
|
Date of Registration: |
2002-11-14 |
|
Factory Registration Number: |
99653930 |
|
Factory Manager: |
Jinjun Cai |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-11-29 |
|
Major Products: |
182
petrochemical materials 184 synthetic resin, plastic, rubber |
|
4 |
|
|
Name: |
Kaohsiung Factory |
|
Address: |
No. 8, 12, 14, Industrial 1st Road, Renwu
District, Kaohsiung City, Taiwan |
|
Date of Foundation: |
1972-9-21 |
|
Date of Registration: |
1990-12-31 |
|
Factory Registration Number: |
99661991 |
|
Factory Manager: |
Shaoming Du |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-5-4 |
|
Major Products: |
181 basic
chemical material 184
synthetic resin, plastic, rubber 199
other chemical product 220 plastic product |
|
5 |
|
|
Name: |
Dafa Factory |
|
Address: |
No.8, Huaxi Road, Guoxi Li, Daliao District, Kaohsiung City, Taiwan |
|
Date of Foundation: |
1988-8-31 |
|
Date of Registration: |
1994-3-4 |
|
Factory Registration Number: |
99663373 |
|
Factory Manager: |
Houfu Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2012-3-16 |
|
Major Products: |
159
other paper product 184 synthetic
resin, plastic, rubber 199
other chemical product 339
other product 231
glass and glassware 182 petrochemical material |
|
6 |
|
|
Name: |
Dafa 2nd Factory |
|
Address: |
No.6, Huaxi Road, Guoxi Li, Daliao District, Kaohsiung City, Taiwan |
|
Date of Registration: |
2004-11-26 |
|
Factory Registration Number: |
99685671 |
|
Factory Manager: |
Houfu Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-3-25 |
|
Major Products: |
181 basic chemical material |
Note: Subject is a member of “Chang Chun Group”.
Core Management
|
1 |
|
|
Name |
Longxing Liao |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Xinyi Zheng |
|
Position |
Executive Director |
|
3 |
|
|
Name |
Shuhong Lin |
|
Position |
Executive Director |
|
4 |
|
|
Name |
Xiandong Lin |
|
Position |
Director |
|
5 |
|
|
Name |
Zheng Zheng |
|
Position |
Director |
|
6 |
|
|
Name |
Qiongyu Liao |
|
Position |
Director |
|
7 |
|
|
Name |
Shiguang Su |
|
Position |
Director |
|
8 |
|
|
Name |
Xuanyi Liao |
|
Position |
Director |
|
9 |
|
|
Name |
Rongzong Chen |
|
Position |
Director |
|
10 |
|
|
Name |
Qingrong Lin |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Xin-ai Zheng |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 5,000 Employees
(Group) |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is engaged in manufacturing of
chemicals
l
Subject has factories in Taiwan for production
and we obtained some detail information as follows for reference.
|
Factory Name |
Area (Square Meters) |
Staff No. |
|
Hsin-Chu Factory |
130,000 |
About 600 Employees |
|
Kaohsiung Factory |
40,000 |
About 200 Employees |
|
Dafa Factory |
130,000 |
-- |
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and sale of synthetic resin |
|
-- |
Manufacturing and sale of chemical raw
materials |
|
-- |
Manufacturing of green sheet |
|
-- |
Manufacturing and sale of insulation
paper, melamine and cyanoacrylate adhesives |
|
-- |
General import and export business
(besides licensed business) |
|
-- |
Manufacturing and sale of phthalic |
|
-- |
Manufacturing and sale of light resistance |
|
-- |
As an agent assists in developing quoting,
bidding and distributing about your above mentioned products |
|
C801050 |
Manufacturing of plastic materials |
|
C801020 |
Manufacturing of petrochemical materials |
|
C801040 |
Manufacturing of synthetic resin |
|
CB01030 |
Manufacturing of pollution-prevention
equipment |
|
CC01010 |
Manufacturing of power equipment,
transmission equipment and distribution equipment |
|
CC01020 |
Manufacturing of electric wire and cable |
|
CC01050 |
Manufacturing of data storage and processing
equipment |
|
CC01080 |
Manufacturing of electronic component |
|
E599010 |
Piping industry |
|
I601010 |
Leasing industry |
|
A101020 |
Crop cultivation |
|
C201010 |
Manufacturing of feed |
|
C401010 |
Manufacturing of leather |
|
C601010 |
Manufacturing of pulp |
|
C601020 |
Manufacturing of paper |
|
C601030 |
Manufacturing of paper box |
|
C801060 |
Manufacturing of synthetic rubber |
|
C801070 |
Manufacturing of high pressure gas |
|
C802010 |
Manufacturing of fertilizer |
|
C802020 |
Manufacturing of man-made fiber |
|
C802030 |
Manufacturing of coating and paint |
|
C802090 |
Manufacturing of cleaning supplies |
|
C901020 |
Manufacturing of glass and glassware |
|
CA01110 |
Copper industry |
|
CA03010 |
Heat treatment |
|
CA04010 |
Surface treatment |
|
CB01010 |
Manufacturing of mechanical equipment |
|
CC01060 |
Manufacturing of wire communication
equipment |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l Subject purchases raw
materials from both home and abroad. While it is introduced that subject’s
purchasing all depends on the specific conditions and customers’ demands.
l Subject
is engaged in sale of chemicals
l
The chemicals sold by subject are
applied to the industries of textile, coating, semiconductor, electronic, paper
& plastic.
l
Subject’s sales regions include Asia,
Europe and America.
l
Subject’s major customers are Valspar
Industrial, Ennis Paint, Inc and Kemrock Industries & Exports Limited, etc.
Major Product
|
1 |
Product |
|
2 |
|
|
3 |
|
|
4 |
|
|
5 |
|
|
6 |
|
|
7 |
|
|
8 |
|
|
9 |
|
|
10 |
|
|
11 |
|
|
12 |
|
|
13 |
|
|
14 |
|
|
15 |
|
|
16 |
|
|
17 |
|
|
18 |
|
|
19 |
|
|
20 |
|
|
21 |
|
|
22 |
|
|
23 |
|
|
24 |
|
|
25 |
|
|
26 |
|
|
27 |
|
|
28 |
|
|
29 |
|
|
30 |
|
|
31 |
|
|
32 |
|
|
33 |
|
|
34 |
|
|
35 |
|
|
36 |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw
materials, etc |
T/T,
Credit Sales, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Raw
materials, etc |
T/T,
etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Chemicals,
etc |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Chemicals,
etc |
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. Gao declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name |
Bank of America, N.A. Taipei
Branch |
|
Address |
43F, No 7, Sec.5 Xinyi Rd,
Taipei, Taiwan |
|
Account No |
20768054 |
|
Swift Code |
BOFATW2X |
Note: Subject’s relevant staff didn’t confirm the supplied bank information, from other sources, we cannot obtain
the relevant information,
either.
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
036278 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
331264 |
|
Date of Registration: |
1990-9-22 |
|
Date of Alteration: |
1990-9-22 |
|
Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
042820 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
099742 |
|
Date of Registration: |
1993-7-9 |
|
Status: |
Paid off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
048186 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
244930 |
|
Date of Registration: |
1995-6-20 |
|
Status: |
Paid off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
050868 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
468435 |
|
Date of Registration: |
1996-5-9 |
|
Status: |
Paid off |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
051248 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
469777 |
|
Date of Registration: |
1996-6-24 |
|
Status: |
Paid off |
|
6 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
057769 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
823991 |
|
Date of Registration: |
1998-4-27 |
|
Status: |
Paid off |
|
7 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
061545 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
853882 |
|
Date of Registration: |
1999-4-13 |
|
Status: |
Paid off |
|
8 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
082142 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
09304998770 |
|
Date of Registration: |
2004-12-29 |
|
Status: |
Paid off |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Gao |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
UK Pound |
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.81.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.