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Report Date : |
15.10.2014 |
IDENTIFICATION DETAILS
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Name : |
TONG SING CHEMICALS CO., LTD. |
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Registered Office : |
6th Fl., No.45, Chi Lin Rd., Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
13.10.1969 |
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Com. Reg. No.: |
11328755 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Western Medicine Raw Materials. |
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No. of Employees : |
About 21 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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: |
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Telephone Number: |
+886-2-2571-5135 |
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Fax Number: |
Notes: The exact name and address are as above.
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Registered Name: |
Tong Sing Chemicals Co., Ltd. |
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Registered Address: |
6th Fl., No.45, Chi Lin Rd., Taipei, Taiwan |
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Date of Foundation: |
1969-10-13 |
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Registration Number: |
11328755 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2014.10, 1 NTD = 0.0329 USD) |
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Legal Representatives: |
Yishen Xu |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated
on 1969-10-13 with registered number 11328755 as Private Limited Liability
Company in Taiwan.
Subject did not register any subsidiaries or branches; from other source
we could not obtain the relevant information, either.
Major Shareholders
|
Name |
Subscription Amount |
|
Yishen Xu |
|
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5,042,783 |
Core Management
Director
|
Name |
Yishen Xu |
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Position |
Director |
Personnel
Structure
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Total Employees |
About 21 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
· Subject is a trader of western medicine raw materials, etc. without any production.
Purchase
Information
· The registered activities of subject:
|
No. |
Details |
|
1 |
Buying and selling of dose of food additives, kinds of medicines and
raw materials, animal medicines, food, special nutrients, etc. |
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2 |
Import and export of medical equipment |
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3 |
Besides licensed business, all other
business items those are not banned or restricted. |
The products of the subject are both purchased at home and abroad such
as Japan, Italy, etc.
· Subject is engaged in sale of western medicine raw materials, etc.
· The major products sold by the subject include western medicine raw materials, polybutene, animal medicine raw materials, food additives, electronic materials, etc.
· Subject’s sales regions Taiwan, the Mainland of China, Japan, Southeast Asia, Europe, USA, South America, etc.
· Subject’s major customers are manufacturers of medicines and food, etc.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
PURCHASE
Domestic Purchase
|
Products |
Western medicine raw materials, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Western medicine raw materials, etc. |
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Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
Western medicine raw materials, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Western medicine raw materials, etc. |
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Selling Terms |
L/C, T/T, etc. |
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 declined to disclose
its financials citing the grounds of company’s confidentiality; from other
sources we could not obtain such information, either.
Subject declined to disclose its bank details; from other source we
could not 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.
Interview Details
|
Name |
Mr. Xu |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.98.15 |
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Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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.