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Report No. : |
315168 |
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Report Date : |
04.04.2015 |
IDENTIFICATION DETAILS
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Name : |
ZENITH CHEMICAL CORPORATION |
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Registered Office : |
9F, No.10, Heng Yang Ard., Taipei 100,
Taiwan |
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Country : |
Taiwan |
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Date of Incorporation : |
25.03.1987 |
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Com. Reg. No.: |
22430118 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of chemical products |
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No. of Employee : |
About 30 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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: |
+886-2-2383-0515 |
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Fax Number: |
Note: The exact name and address are as above.
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Registered Name: |
ZENITH CHEMICAL CORPORATION |
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Registered Address: |
9F, No.10, Heng Yang Ard., Taipei 100, Taiwan, R.O.C. |
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Date of Foundation: |
1987-3-25 |
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Registration Number: |
22430118 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 150,000,000
(USD 4,815,000) (As of 2015.4, 1 NTD = 0.0321 USD) |
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Paid-up Capital: |
NTD 115,000,000 (USD 3,691,500) |
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Legal Representatives: |
Jiaxiang Fang |
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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 1987-3-25 with registered
number 22430118 as Joint Stock
Company in Taiwan.
Factory
|
Address: |
No.9, Youliu
Road, Youshi Industrial Park, Dajia District, Taichung City, Taiwan, R.O.C. |
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Tel: |
+886-4-2681-1521 |
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Fax: |
+886-4-2681-6523 |
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Date of
Foundation: |
1992-4-14 |
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Factory
Registration Number: |
99633509 |
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Factory Manager: |
Hongqi Xu |
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Status: |
In Production |
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Date of Last Annual Return: |
2015-3-5 |
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Major Products: |
181 basic
chemical materials 182
petrochemical materials |
Major Shareholders
|
Name |
Subscription Shares |
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Jiaxiang Fang |
115,750 |
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Fu Du Enterprise Co., Ltd. (Literal
Translation) |
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|
2,350,000 |
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Gang Cao |
212,670 |
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En Su |
387,750 |
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Qiti Shao |
76,500 |
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Shupin Huang |
10,000 |
Shareholder Information:
|
1 |
|
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Registered Name: |
Fu Du Enterprise Co., Ltd. (Literal Translation) |
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Registered Address: |
7/F., No.6, Xiangyang Road, Zhongzheng District, Taipei City, Taiwan |
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Date of Foundation: |
1973-6-27 |
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Registration Number: |
04215783 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2015.4, 1 NTD = 0.0321 USD) |
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Paid-up Capital: |
NTD 18,000,000 (USD 577,800) |
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Legal Representatives: |
Honglin Fang |
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Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2014-7-25 |
Core Management
Directors
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1 |
||
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Name |
Jiaxiang Fang |
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Position |
Board Chairman |
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2 |
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Name |
Honglin Fang |
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Position |
Director |
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3 |
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Name |
Gang Cao |
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Position |
Director |
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4 |
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Name |
En Su |
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Position |
Director |
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5 |
||
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Name |
Xiangcheng Chen |
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Position |
Director |
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6 |
||
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Name |
Qiti Shao |
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Position |
Supervisor |
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7 |
||
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Name |
Shupin Huang |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 30 Employees |
Offices &
Factories
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|
Headquarters |
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Add |
Production Information
l
Subject is engaged in manufacturing of chemical
products, etc.
l
Subject has a factory (about 20,000 square meters)
in Taichung City for production.
l
Subject obtained the certifications of ISO 9001,
ISO 14001 and OHSAS18001.
l
We found subject’s annual production capacity as
follows for reference.
|
Product |
Annual Production Capacity |
|
Nickel Sulphate |
4,000 MT |
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Nickel Chloride |
1,000 MT |
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Nickel Sulfamate |
1,500 MT |
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Nickel
Aminosulfonate |
750 MT |
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and sale of metal salt, silicic
acid and its related products |
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-- |
Import and export of above items |
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-- |
Agent, price quoting, bidding service and marketing
of above mentioned items (except future goods) |
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F401010 |
International trade business |
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G801010 |
Warehouse business |
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ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
The components and raw material for production are
purchased from both home and abroad.
l
It is introduced that
subject import technology from Canada (Vale Inco Limited).
l Subject is engaged
in sale of chemical products, etc.
l
Subject’s major products are nickel sulphate EN
Grade, nickel chloride, nickel sulphate plating grade, nickel sulphate
high-purity grade, and nickel sulfamate, etc.
l
Subject’s products are mainly applied to electroplating,
electroless plating, hard disk, PCB, bumper, lithium ion battery, etc.
l
Subject’s sales regions include domestic market,
Southeast Asia and USA, etc.
l
Subject’s major customers are manufacturers of
batteries, computers and mobiles, etc.
l
It is introduced that one of subject’s major
customers is Palm Commodities International (USA).
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw material, etc. |
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Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Raw material and technology, etc. |
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Payment Terms |
L/C, T/T, etc. |
Sales
1.
Domestic Markets
|
Product |
Chemical
products, etc. |
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Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Chemical
products, 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
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
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UK Pound |
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
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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.