|
Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
BEST CHEM CO., LTD. |
|
|
|
|
Registered Office : |
1F., No.15, Lane 192, Sec. 2, Nanshan Rd., Lujhu Township, Taoyuan County 338 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
11.06.1980 |
|
|
|
|
Com. Reg. No.: |
43832953 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and
sales of chemicals. |
|
|
|
|
No. of Employees : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.15, Lane 192, Sec. 2, Nanshan Rd., Lujhu Township, Taoyuan County
338, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
Notes: The exact name and address are as above.
|
Registered Name: |
BEST CHEM CO., LTD. |
|
Registered
Address: |
1F., No.15, Lane
192, Sec. 2, Nanshan Rd., Lujhu Township, Taoyuan County 338, Taiwan (R.O.C.) |
|
Date of Foundation: |
1980-6-11 |
|
Registration
Number: |
43832953 |
|
Registry: |
MOEA Central
Office |
|
Registered
Capital: |
(As of 2014.09, 1
NTD = 0.0331 USD) |
|
Legal
Representatives: |
Yisong Jian |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject
was incorporated on 1980-6-11 with registered number 43832953 as Private
Limited Liability Company in Taiwan.
Factory
|
Address: |
No.15, Lane 192, Sec. 2, Nanshan Rd., Lujhu Township, Taoyuan County 338, Taiwan (R.O.C.) |
|
Date of Registration: |
2003-3-18 |
|
Factory Registration Number: |
99686477 |
|
Factory Manager: |
Yisong Jian |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2013-11-15 |
|
Major Products: |
192 Coatings, dyes and pigment |
Major Shareholders
|
Name |
Subscription Amount |
|
Yisong Jian |
26,000,000 |
Core Management
Directors
|
Name |
Yisong Jian |
|
Position |
Director |
Personnel Structure
|
Total Employees |
About 50 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.15, Lane 192, Sec. 2, Nanshan Rd., Lujhu Township, Taoyuan County 338, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of chemicals, etc.
Subject has a factory in Taiwan for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C802200 |
Manufacturing of coating, paint, dye, and pigment |
|
C802990 |
Manufacturing of other chemicals |
|
F107010 |
Wholesale of paint and coating |
|
F107020 |
Wholesale of dye and pigment |
|
F107170 |
Wholesale of industrial additives |
|
F401010 |
International trade business |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
It is introduced that subject purchases its raw materials mainly in domestic market.
Subject is engaged in sale of chemical, etc.
The major products are screen-print rubber paste, plastisol ink, pigment resin color, additives, fire resistant, color paste for PVC resin and so on.
Subject’s sales regions are mainly in China, Southeast Asia, Europe and America, etc.
Subject’s major customers are textile industry
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
Cash, T/T, etc |
Import
The subject has
little import.
Sales
Domestic Markets
|
Product |
Chemicals and etc |
|
Selling Terms |
Cash, T/T, etc |
Export
|
Product |
Chemicals and 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. Martin 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. Martin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.02 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.77.84 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.