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Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TAIWAN FIELDRICH CORPORATION |
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Registered Office : |
11F/A, No.25, Sec.4, Ren-Ai Rd., Da-An
District, Taipei City 106 |
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Country : |
Taiwan |
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Date of Incorporation : |
06.08.1985 |
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Com. Reg. No.: |
01125909 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of chemicals
materials |
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No. of Employees : |
150 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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. In 2009, Taiwan's GDP contracted 1.8%, due primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%, as exports returned to the level of previous years, and in 2011, grew 4.0%. In 2012, however, growth fell to 1.3%, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but except for the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far Taiwan has been excluded from this greater economic integration in part because of its diplomatic status. Negotiations continue on such follow-on components of ECFA regarding trade in goods and services. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other key trade partners, which Taiwan subsequently launched with Singapore and New Zealand. 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 trade surplus largely because of its surplus with China, and its foreign reserves are the world's fifth largest, behind China, Japan, Saudi Arabia, and Russia. 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. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. 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: |
11F/A, No.25, Sec.4,
Ren-Ai Rd., Da-An District, Taipei City 106, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-2741-5577 |
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Fax Number: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1985-8-6 with registered number 01125909
as Joint Stock Company in
Taiwan.
|
Subscription Shares |
|
|
Suyue Yang |
1,269,231 |
|
Shangbin Wu |
1,038,462 |
|
Peijuan Wu |
1,038,462 |
|
Peirong Wu |
279,230 |
The information above is that of subject’s major shareholders.
Related Company:
|
Name |
Tasco Chemical Corporation |
|
Registered Address |
No. 25-9A, Morrison Plaza, Sec. 4, Jen Ai Road, Taipei, Taiwan. |
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Email |
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Principal Activities: |
Manufacture and sales of chemicals |
Core Management
Directors
|
1 |
|
|
Name |
Suyue Yang |
|
Position |
Board Director |
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2 |
|
|
Name |
Shangbin Wu |
|
Position |
Director |
|
3 |
|
|
Name |
Peijuan Wu |
|
Position |
Director |
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4 |
|
|
Name |
Peirong Wu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 150 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
11F/A, No.25, Sec.4, Ren-Ai Rd., Da-An District, Taipei City 106,
Taiwan (R.O.C.) |
Production
Information
Subject is a manufacturer of chemicals
materials
It is introduced that subject has a factory in Taiwan for production.
But the subject declined to disclose details for us, we cannot find related
information from valid sources, either.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Organic alcohols, ketone, aldehydes, acids, ethers, esters, amine chemicals,
organic acid anhydride chemicals antioxidants. |
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2 |
Import and export business of organic chloride, organic
fluorocompound, caustic soda, potassium hydroxide’s. |
|
3 |
Vitriol and hydrochloric acid’s import and export business. |
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4 |
Polrvinyl chloride, polystyrene, polyethylene, polypropylene,
polymethyl methacrylate, crylic acid, formic ester, polyamide, polyacetal,
PC. |
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5 |
Ester polymer oxidation of xylene, polyethylene terephthalate, PBT polybutylene
Terephthate, poly (aromatic ester gather the wind). |
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6 |
Import and export business of Poly, PPS high-molecular polymer. |
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7 |
Import and export business of petroleum resin, fluorocarbon resin, the
silicon oxygen resin, epoxy resin, bakelite, poly resin urine, polyimide
resin. |
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8 |
Import and export business chemical machinery equipment(except weights
and measures and counter) equipment and its parts. |
|
9 |
Commissioned to build the factory and found a state’s council house of
rent out and sell business. |
It is introduced that subject purchases its raw materials and both at
home and abroad.
The subject is mainly engaged in sales of chemicals materials
It is introduced that subject’s products include
methyl
ethyl ketone, butanone, hydroxide radical, methyl, pentanone, butanone,
MTBE
It is introduced that subject’s selling
territory are in China, America, Europe and Southeast Asia
It is introduced that subject has cooperated
with many enterprises, such as “Helm De Mexico, S.a.”, “Icc Chemical Corp.”,
“Frp Services And Co”, “Matrix Chemical Llc.”
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Product |
Terms |
Proportion |
|
Raw materials |
CBD, COD |
100% |
Foreign Purchase
|
Product |
Terms |
Proportion |
|
Raw materials |
CBD |
100% |
Sales
Domestic Markets
|
Product |
Terms |
Proportion |
|
Chemicals |
CBD |
100% |
Export
|
Product |
Terms |
Proportion |
|
Chemicals |
CBD |
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. Lai declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we cannot 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 |
Mr. Lai |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
UK Pound |
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.