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Report Date : |
19.09.2014 |
IDENTIFICATION DETAILS
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Name : |
UNITED RAW MATERIAL SOLUTIONS INC. |
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Registered Office : |
11th Floor, No.167, |
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Country : |
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Date of Incorporation : |
17.11.2003 |
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Com. Reg. No.: |
80542219 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of plastic and petrochemical raw
materials |
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No. of Employees : |
60 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 : |
Unknown |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
11th
Floor, No.167, Fuxing North Road, Songshan District, Taipei City 10560,
Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
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Registered Name: |
United Raw Material
Solutions Inc. |
|
Registered Address: |
11th Floor, No.167,
Fuxing North Road, Songshan District, Taipei City 10560, Taiwan (R.O.C.) |
|
Date of Foundation: |
2003-11-17 |
|
Registration Number: |
80542219 |
|
Registry: |
Taipei City Government |
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Registered Capital: |
NTD 297,650,400 (USD 10,120,114) (As of 2014.09, 1 NTD =
0.0340 USD) |
|
Paid-up Capital: |
NTD 115,850,680
(USD 3,938,923) |
|
Legal Representatives: |
Jinglun Lin |
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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
2003-11-17 with registered number 80542219 as Joint Stock
Company in Taiwan.
Change
of Address:
|
Current Address |
11th Floor,
No.167, Fuxing North Road, Songshan District, Taipei City 10560, Taiwan
(R.O.C.) |
|
Former Address |
5F., No.35, Ln. 11,
Guangfu N. Rd., Songshan Dist., Taipei City 10560, Taiwan (R.O.C.) |
|
Name |
Subscription Shares |
|
Jinglun Lin |
|
|
4,634,238 |
|
|
Jingzhe Lin |
422,672 |
|
Jingyuan Lin |
359,721 |
|
Qianhui Lin |
479,629 |
|
Yixiong Lin |
1,648 |
The information above is that of subject’s major shareholders.
Major Related
Companies
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1 |
|
|
Name |
Formosa Industries Corporation |
|
Address |
Nhon Trach 3 Industrial Zone, Nhon Trach
District, Dong Nai Province, Vietnam |
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2 |
|
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Name |
Formosa Chemicals & Fibre Corporation |
|
Address |
359, Chung Shan Rd., Sec.3, Chuang Hwa City,
Taiwan; Changhua County, Taiwan |
|
3 |
|
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Name |
Formosa Plastics Corporation |
|
Address |
201 Tung Hwa North Rd, Taipei, Taiwan |
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4 |
|
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Name |
Emers Industrial Corporation |
|
Address |
5F., No.35, Ln. 11, Guangfu N. Rd., Songshan
Dist., Taipei City 10560, Taiwan (R.O.C.) |
Core Management
Directors
|
1 |
|
|
Name |
Jinglun Lin |
|
Position |
Board Chairman |
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2 |
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|
Name |
Jingzhe Lin |
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Position |
Director |
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3 |
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Name |
Jingyuan Lin |
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Position |
Director |
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4 |
|
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Name |
Qianhui Lin |
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Position |
Supervisor |
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5 |
|
|
Name |
Yixiong Lin |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 60 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
5F., No.35, Ln. 11, Guangfu N. Rd., Songshan
Dist., Taipei City 10560, Taiwan (R.O.C.) |
Production Information
l
Subject is a trader of plastic and petrochemical
raw materials without any production activities.
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
Subject purchases products from both
home and abroad and we obtained some of subject’s major suppliers’ information
as follows for reference.
|
Type |
Product |
Supplier |
|
Textile raw materials |
Viscose Rayon, Viscose Cotton, Nylon Fiber,
Polyester Fiber |
China Man-Made Fiber Corporation |
|
-- |
HUALON (Malaysia) |
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Polyester Staple Fiber |
Tuntex Distinct Corp. |
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Viscose |
Formosa Chemicals & Fibre Corporation |
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Draw Texturing Yarn |
Tuntex Distinct Corp. |
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Polyester Pre-Oriented Yarn |
Taiwan Polypropylene Co., Ltd |
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Plastic raw material |
ABS |
Formosa Chemicals & Fibre Corporation Great Eastern Resins Industrial Co., Ltd Taita Chemical Co., Ltd |
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EVA |
Formosa Plastics Corporation USI Corporation |
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PP/PE |
Formosa Chemicals & Fiber Corporation Formosa Plastics Corporation Korea Petrochemical Industrial Co., Ltd Taiwan Polypropylene Co., Ltd Titan Polyethylene (Malaysia) Sdn. Bhd TPI Polene Public Company Limited USI Corporation Yung Chia Chemical Industries Corporation Hanwha Corporation Siam Chemical Trading Daelim Corporation |
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PS |
Eternal Chemical Formosa Chemicals & Fibre Corporation Supreme Petrochem LTD Taita Chemical Co., Ltd |
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PVC |
Apex Petrochemical Co., Ltd China General Plastics Corp Hanwha Corporation Jiamin Textile Co., Ltd Korea Petrochemical Industrial Co., Ltd Formosa Plastics Corporation |
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Petrochemical |
Plasticizers |
Formosa Chemicals & Fiber Corporation |
l
Subject is engaged in sales of plastic
and petrochemical raw materials, etc.
l
Subject’s sales region covers all over
the world.
l
Subject’s major customers are the
manufacturers of textile, electronic product and automobile, etc.
l
Subject’s major customers are Queen Gil
Co., Ltd and Asian Business Group S.A.S.
l
Subject’s major cooperative shipping
companies are Yang Ming, YES Logistics Corp., Evergreen, Wan Hai Lines Ltd.,
K-Line, T. S. Lines and Cosco.
Major Products
|
Type |
Product |
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Textile raw materials |
Polyester, Nylon, Viscose |
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Plastic raw material |
EVA, PE, PP, PS, PVC, SAN, PA, PET |
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Petrochemical raw materials |
PTA, MEG, PET CHIP, PX, 1.4BG, THF |
|
Electronics |
LCD Optical Protection Film, Flash Drive |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
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Plastic and petrochemical products |
Interior
Settlement, T/T, etc |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Plastic and petrochemical products |
T/T, L/C, etc |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Plastic and petrochemical products |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Plastic and petrochemical products |
T/T,
L/C, 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 Mr. Zhang declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we cannot obtain the relevant information, either
|
1 |
|
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Name |
CITI Bank |
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2 |
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Name |
Far Eastern International Bank |
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3 |
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Name |
Bank of Overseas Chinese |
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4 |
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Name |
Bank of Shanghai |
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5 |
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Name |
HSBC |
Mortgage
No chattel mortgage record of
subject has been found within the recent 3 months.
Lawsuit
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1 |
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2005, Jian, 2881 |
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Date of Trial: |
2006-3-14 |
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Reason: |
Labor standards law |
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Claimant: |
Taipei District Prosecutors Office Procurator |
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Defendant: |
United Raw Material Solutions Inc. |
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2 |
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Trial Number: |
2005, Guomao, 8 |
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Date of Trial: |
2005-10-11 |
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Reason: |
Payment for goods |
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Claimant: |
Not Stated |
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Defendant: |
United Raw Material Solutions Inc. |
|
Name |
Mr. Zhang |
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Department |
Sales
Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.05 |
|
|
1 |
Rs.99.55 |
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Euro |
1 |
Rs.78.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
PDT |
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.