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Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
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Name : |
ABLE ADVANCED CHEMICALS COMPANY LTD. |
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Registered Office : |
1F, No.1, Lane 109, Kanghwa St |
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Country : |
Taiwan |
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Date of Incorporation : |
19.07.1997 |
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Com. Reg. No.: |
16135834 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Research, manufacturing and sales of dyes |
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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 : |
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 |
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Moderate High Risk |
C1 |
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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 |
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Company Name: |
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Supplied Name: |
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Trading Address: |
3F., No. 572 MingShen N. Rd., Sec. 1, GueiShan Shiang, Taoyuan, Taiwan |
|
Supplied Address: |
3F. NO.572 MINSHENG N.RD., SEC.1 GUEISHAN SHIANG, TAOYUAN TAIWAN, R.O.C 33393 |
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Telephone Number: |
+886-3-352-9566 |
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Fax Number: |
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E-mail: |
Notes: The exact name
and address are as above.
Subject was incorporated on 1997-7-19 with registered number 16135834 as Joint Stock Company in Taiwan.
Change of Name
|
Former Chinese Name |
文擘科技有限公司 |
|
Current Chinese Name |
文擘科技股份有限公司 |
|
Name |
Subscription Shares |
|
Wenju Su |
1,560,000 |
|
Yangren Chen |
|
|
520,000 |
|
|
Yuexia Su |
260,000 |
|
Xiulan Su |
260,000 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
3/F., No. 572 Mingshen N. Rd., Sec. 1, Gueishan Shiang, Taoyuan, Taiwan |
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Date of Registration: |
2004-3-3 |
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Factory Registration Number: |
99687498 |
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Factory Manager: |
Wenju Su |
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Status: |
In Production |
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Date of Last Annual Return: |
2004-3-3 |
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Major Products: |
192 coating, dye and pigment |
Offices
|
1 |
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Name |
Shanghai Office |
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Address |
E, 28F., Liyi House ZhongShan Square, No. 977 HongQiao Rd., Chang Ning District, Shanghai, China 200051 |
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Telephone Number |
+86-21-6208-6691 |
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Fax Number |
+86-21-6209-4326 |
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2 |
|
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Name |
South China Office |
|
Address |
Room 1001, WeiHao Building, HeYang Rd., HeTian District, Hou Jie Township, Dong Suan City, Guang Dong Province, China |
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Telephone Number |
+86-769-8524-6501 |
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Fax Number |
+86-769-8161-1033 |
Core Management
Directors
|
1 |
|
|
Name |
Wenju Su |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yangren Chen |
|
Position |
Director |
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3 |
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|
Name |
Yuexia Su |
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Position |
Director |
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4 |
|
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Name |
Xiulan Su |
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Position |
Supervisor |
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Total Employees |
About 35 Employees |
Offices & Factories
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|
Headquarters |
|
Add |
3F., No. 572 MingShen N. Rd., Sec. 1, GueiShan Shiang, Taoyuan, Taiwan |
Production Information
Subject is engaged in research and manufacturing of dyes, etc.
Subject has a factory in Taiwan for production and it is introduced that subject also has two related factories in India and Thailand for manufacturing semi-finished product.
It is introduced that the annual capacity of subject is over 1,500 tons.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Development and trading of chemical materials for dyes, textiles and dyeing auxiliaries |
|
-- |
Trading of dyes and pigments |
|
-- |
Trading business of import and export for above products |
|
C801030 |
Manufacturing of fine chemicals |
|
C802150 |
Manufacturing of dyes and pigments |
The raw materials for production are purchased from Taiwan, Mainland China and Southeast Asia, etc.
The subject is mainly engaged in sales of dyes, etc.
Subject’ sales regions include domestic market, Japan, South Korea, India, other Asia countries, Europe and America, etc.
It is introduced that subject’s products are applied to textiles, leatherware, electronics, metal and biochip, etc.
Subject’s major customers are manufacturers of textiles, leather and metal products, etc.
Major Products
|
1 |
Dyes for leather |
|
2 |
Dyes for textile |
|
3 |
Metal complex dyes |
|
4 |
Dyes for nylon/wool |
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5 |
Dye for nylon |
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6 |
Dyes for Aluminum Alloy |
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7 |
Metal Complex Dyes |
|
8 |
Chemical Reagent for Biochip |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials, etc |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Raw materials, etc |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Dyes, etc |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Dyes, etc |
L/C, T/T (30% in advance), 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. Chen declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name |
Shanghai Commercial And Savings Bank Ltd |
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. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
NIS |
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 |
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|
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
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.