|
Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
HIFORCE CHEMICALS CO., LTD. |
|
|
|
|
Registered Office : |
No.6, Fu Hsing
Rd., Feng Shan Vill., Hu Kou Hsiang, Hsin |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
04.11.1971 |
|
|
|
|
Com. Reg. No.: |
33288341 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and
trading of chemicals |
|
|
|
|
No. of Employees : |
20 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
Source
: CIA |
|
Company Name: |
|
|
Former Name: |
HIFORCE CHEMICALS CORP. |
|
Supplied Name: |
|
|
Trading Address: |
No.6, Fu Hsing Rd., Feng Shan Vill., Hu Kou Hsiang, Hsin |
|
Supplied Address: |
14/F No. 268 Wen Hwa Road, Sec 1 Panchiao City Taipei Hsien R.O.C. |
|
Telephone Number: |
+886-3-598-3355 |
|
Fax Number: |
Notes: We contacted
with the subject, subject introduced that the supplied address belongs to its
related company named “Zimi Chemicals Co., Ltd”, and the exact name and address
are as above.
|
Registered Name: |
HIFORCE CHEMICALS
CO., LTD. |
|
No.6, Fu Hsing
Rd., Feng Shan Vill., Hu Kou Hsiang, Hsin |
|
|
Date of Foundation: |
|
|
Registration Number: |
33288341 |
|
Registry: |
MOEA Central
Office |
|
Registered Capital: |
NTD 29,000,000
(USD 959,000) (As of 2014.10,1
NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 29,000,000
(USD 959,000) |
|
Legal Representatives: |
Taiping Gao |
|
Legal Form: |
Joint Stock
Company |
|
Principal Activities: |
Manufacturing and
trading of chemicals, etc. |
|
Staff: |
About 20 Employees
|
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-9-15 |
Subject
was incorporated on 1971-11-4 with registered number 33288341 as Joint Stock
Company in Taiwan.
Change of Name
|
Former Chinese Name |
惠豐化工廠有限公司 |
|
Current Chinese Name |
惠豐化工廠股份有限公司 |
|
Former English Name |
Hiforce Chemicals
Corp. |
|
Current English Name |
Hiforce Chemicals
Co., Ltd. |
Factory
|
Address: |
No.6, Fu Hsing
Rd., Feng Shan Vill., Hu Kou Hsiang, Hsin |
|
Date of Foundation: |
1978-6-26 |
|
Date of Registration: |
1986-1-28 |
|
Factory Registration Number: |
99630717 |
|
Factory Manager: |
Taiping Gao |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2014-5-19 |
|
Major Products: |
199 Other chemicals |
Related Companies
|
Name |
Zimi Chemicals Co., Ltd |
|
Address |
14/F No.268, Wen Hwa Road, Sec.1, Panchiao City, Taipei Hsien Taiwan |
|
Tel |
+886-2-2252-7121/+886-2-2251-5151 |
|
Fax: |
+886-2-2253-7648 /+886-2-2252-7110 |
|
E-mail: |
|
|
Description: |
The company is mainly engaged in trading of chemicals. |
Major Shareholders
|
Name |
Subscription Shares |
|
Taiping Gao |
|
|
229,900 |
|
|
Yongqin Li |
507,500 |
|
Yongsheng Gao |
193,900 |
|
Chonghe Wu |
507,500 |
Core Management
Directors
|
1 |
|
|
Name |
Taiping Gao |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yongqin Li |
|
Position |
Director |
|
3 |
|
|
Name |
Yongsheng Gao |
|
Position |
Director |
|
4 |
|
|
Name |
Chonghe Wu |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 20 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.6, Fu Hsing Rd., Feng Shan Vill., Hu Kou
Hsiang, Hsin |
Production Information
Subject is engaged in manufacturing of chemicals and etc
Subject has a factory in Taiwan for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F107200 |
Wholesales of chemical materials |
|
C801010 |
Basic chemical industry |
|
C801110 |
Manufacture of fertilizer |
|
C802200 |
Manufacture of Coating, paint and dye |
|
C802080 |
Manufacture of Environmental medicines |
|
C802080 |
Manufacture of Environmental medicines |
|
C802120 |
Manufacture of industrial additives |
|
J101030 |
Waste Removal Industry |
|
J101040 |
Waste Treatment Industry |
|
J101080 |
Waste Recycling Industry |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
It is introduced that subject purchases its raw materials and etc both at home and abroad.
Subject is engaged in sale of chemicals and etc.
The major products are chemicals materials, such as sodium silicate, mirabilite, silica gel, sodium aluminate, phosphoric acid, phosphate, sodium metasilicate, sodium orthosilicate and so on.
Subject’s sales regions cover Asia, Europe, America and etc.
Subject’s major customers are manufacturers of daily supplies, chemical products and etc.
It is introduced that subject’s products are applied to washing agent, molds, toys, water treatment and etc.
It is introduced that subject also does the chemical waste recycling.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials, etc |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials, etc |
|
Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
Chemicals, etc |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Chemicals, etc |
|
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 Mr. Gao 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. Gao |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
-- |
|
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.