|
Report No. : |
334670 |
|
Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
DAIREN CHEMICAL CORPORATION |
|
|
|
|
Registered Office : |
7th FL., No.301, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
30.06.1979 |
|
|
|
|
Com. Reg. No.: |
12233428 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and |
|
|
|
|
No of Employees : |
About 1,220 Employees |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Taiwan |
A1 |
A1 |
|
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. However, negotiations on follow-on components of ECFA, including an agreement on trade in services, deals on trade in goods, and dispute resolution—have stalled. In early 2014, the government bowed to public demand for a new law governing the oversight of cross-Strait agreements, before any additional deals with China are implemented; the legislature has yet to vote on such legislation, leaving the future of ECFA up in the air as President MA enters his final full year in office. MA has portrayed ECFA as Taiwan’s key to greater participation in East Asia’s free trade networks. 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 expected to account for 20% of the island's total population by 2025. The island runs a trade surplus, largely because of its surplus with China, and its foreign reserves are the world's fourth largest, behind those of China, Japan, and Russia. 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, the 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 has helped Taiwan develop into a local RMB hub. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also pose new challenges as the island becomes more economically dependent on China at a time when political differences remain unresolved. During 2014, the press paid increasing attention to domestic economic issues while pushing aside the debates over trade liberalization that were a hallmark of MA’s tenure. The media focused on the divide between Taiwan’s “haves” and “have nots,” providing extensive coverage of public frustration with stagnant wages, skyrocketing housing prices, and the difficulty of finding entry-level jobs.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-7743-1500 |
|
Fax Number: |
+886-2-2509-9619 |
|
E-mail: |
|
|
Website: |
Notes: The exact
name and address are as above.
Subject was incorporated on 1979-6-30 with registered
number 12233428 as Joint Stock
Company in Taiwan.
Factories
|
1 |
|
|
Name: |
Mailiao Factory |
|
Address: |
No.25 Formosa Industrial Park, Zhongxing Village, Mailiao Township,
Yunlin County, Taiwan |
|
Area (square meters): |
84,459 |
|
Telephone Number |
+886-5-681-2201 |
|
Fax Number |
+886-5-681-2212 |
|
Date of Foundation: |
2001-3-7 |
|
Date of Registration: |
2001-11-1 |
|
Factory Registration Number: |
99653185 |
|
Factory Manager: |
Zhiquan Cai |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2015-3-30 |
|
Major Products: |
182 Petrochemical raw material |
|
2 |
|
|
Name: |
Kaohsiung Factory |
|
Address: |
1-3 Xinggong Rd., Sannai Li, Dashe Dist.,
Kaohsiung City, Taiwan (R.O.C.) |
|
Area (square meters): |
42,180 |
|
Telephone Number |
+886-7-351-4151 |
|
Fax Number |
+886-7-351-4090 |
|
Date of Foundation: |
1983-7-26 |
|
Date of Registration: |
1990-12-31 |
|
Factory Registration Number: |
99661598 |
|
Factory Manager: |
Boya Zhuang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2015-4-12 |
|
Major Products: |
181 The basic
chemical materials 184 Synthetic resins, plastics and rubber |
|
3 |
|
|
Name: |
Ta-Fa Factory |
|
Address: |
No.8-1, Huaxi Rd., Daliao Dist., Kaohsiung City 831, Taiwan (R.O.C.) |
|
Area (square meters): |
129,151 |
|
Date of Foundation: |
1988-8-31 |
|
Date of Registration: |
1999-2-9 |
|
Factory Registration Number: |
99661626 |
|
Factory Manager: |
Mingzhao Li |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-7-22 |
|
Major Products: |
199 Other chemicals |
Branch Company
|
Name |
Mailiao Branch |
|
Address |
No.25, Formosa Industrial Park, Sansheng Village, Mailiao Township,
Yunlin County |
|
Registration Number |
70760067 |
|
Date of Registration |
1999-12-27 |
|
Date of Dissolved: |
2014-9-30 |
|
Manager Name |
Xianzhang Chen |
|
Date of Last Annual Return |
2002-5-7 |
Major Related
Companies
|
1 |
|
|
Name |
CCD (Singapore) Pte Ltd |
|
Address |
29 Tembusu Avenue, Jurong Island, Singapore 627535 |
|
Telephone Number |
+65-6515-5060 |
|
Fax Number |
+65-6515-4307 |
|
2 |
|
|
Name |
Chang Chun Dairen Chemical (Pan Jin) Co., Ltd |
|
Address |
1106, Hon-Guan building, Liaobin Economic Zone, Pan-Jin, Liao-Nin,
China |
|
Telephone Number |
+86-427-677-5001 |
|
Fax Number |
+86-427-677-5012 |
|
3 |
|
|
Name |
Chang Chun Plastics Co., Ltd. |
|
Address |
No.301 Songkiang Road, 7th Floor, Taipei 104 Taiwan |
|
4 |
|
|
Name |
Chang Chun Petrochemical Co., Ltd. |
|
Address |
No.301 Songkiang Road, 7th Floor, Taipei 104 Taiwan |
|
Telephone Number: |
+886-2-2503-8131 |
|
Fax Number: |
+886-2-2503-3378 |
|
5 |
|
|
Name |
Nan Pao Resins Chemical Co., Ltd. |
|
Address |
12, Nan Hai Village, Shee Kang Shang, Tainan, Taiwan, R.O.C |
Subsidiaries
|
1 |
|
|
Name |
Dairen Chemical (M) Sdn. Bhd. |
|
Address |
PLO 18, Tanjung Langsat Industrial Estate, Mukim Sg. Tiram, 81700
Pasir Gudang, Johor, Malaysia |
|
Telephone Number |
+60-7-256-5800 |
|
Fax Number |
+60-7-256-5799 |
|
2 |
|
|
Name |
Dairen Chemical (Jiangsu) Co., Ltd. |
|
Address |
No.1 Dalian Road, Yangzhou Chemical Industry Park,211900 Yangzhou,
Jiangsu, China |
|
Telephone Number |
+86-514-8326-8888 |
|
Fax Number |
+86-514-8329-8855 |
Major Shareholders
|
Name |
Subscription Shares |
|
Longxing Liao |
4,185,454 |
|
Qingyuan Huang |
8,118,943 |
|
Xinyi Zheng |
3,963,081 |
|
Heqing Huang |
4,927,214 |
|
Shuhong Lin |
2,287,707 |
|
Qiongyu Liao |
1,443,858 |
|
Chang Chun Petrochemical Co., Ltd. |
123,932,661 |
|
Taichang Huangtang |
5,529,252 |
|
Tianran Huang |
1,291,027 |
|
Xiandong Lin |
3,393,013 |
|
Xianzhang Chen |
1,002,475 |
|
Zheng Zheng |
3,084,554 |
|
Hedong Huang |
3,814,734 |
|
Limin Huang |
634,321 |
|
Hezhou Huang |
3,810,400 |
|
Anxian Lu |
206,814 |
Shareholder
Information:
|
Registered Name: |
Chang Chun Petrochemical CO., LTD. |
|
Registered Address: |
No.301, Songkiang Rd., 7th FL.,
Taipei, Taiwan R.O.C. |
|
Date of Foundation: |
1964-7-10 |
|
Registration Number: |
11384806 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 7,151,862,870 (USD 230,289,984) (As of 2015.4, 1 NTD = 0.0322 USD) |
|
Paid-up Capital: |
NTD 7,151,862,870 (USD 230,289,984) |
|
Legal Representatives: |
Longxing Liao |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-7-17 |
Core Management
Directors
|
1 |
||
|
Name |
Longxing Liao |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Qingyuan Huang |
|
|
Position |
Vice Chairman |
|
|
3 |
||
|
Name |
Xinyi Zheng |
|
|
Position |
Executive Director |
|
|
4 |
||
|
Name |
Heqing Huang |
|
|
Position |
Executive Director |
|
|
5 |
||
|
Name |
Shuhong Lin |
|
|
Position |
Executive Director |
|
|
6 |
||
|
Name |
Qiongyu Liao |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Fushen Lin |
|
|
Position |
Director |
|
|
8 |
||
|
Name |
Rongzong Chen |
|
|
Position |
Director |
|
|
9 |
||
|
Name |
Taichang Huangtang |
|
|
Position |
Director |
|
|
10 |
||
|
Name |
Tianran Huang |
|
|
Position |
Director |
|
|
11 |
||
|
Name |
Xiandong Lin |
|
|
Position |
Director |
|
|
12 |
||
|
Name |
Xianzhang Chen |
|
|
Position |
Director |
|
|
13 |
||
|
Name |
Zheng Zheng |
|
|
Position |
Director |
|
|
14 |
||
|
Name |
Hedong Huang |
|
|
Position |
Director |
|
|
15 |
||
|
Name |
Limin Huang |
|
|
Position |
Director |
|
|
16 |
||
|
Name |
Shiguang Su |
|
|
Position |
Supervisor |
|
|
17 |
||
|
Name |
Hezhou Huang |
|
|
Position |
Supervisor |
|
|
18 |
||
|
Name |
Jinjun Cai |
|
|
Position |
Supervisor |
|
|
19 |
||
|
Name |
Kunyuan Huang |
|
|
Position |
Supervisor |
|
|
20 |
||
|
Name |
Anxian Lu |
|
|
Position |
Supervisor |
|
Personnel Structure
|
Total Employees |
About 1,220 Employees |
|
|
Headquarters |
|
Add |
Production Information
Subject is a
manufacturer of chemicals and etc.
It is introduced that
subject has obtained the certifications of ISO9002, ISO 14001, OHSAS 18001,
OHSAS 18001, ISO 9001: 2000 and etc.
It is introduced that
subject has factories in Taiwan, mainland China, and Malaysia for production.
Subject’s production
capacities as follows for reference:
Unit: MT
|
Product |
Annual Capacity |
|
Vinyl Acetate |
1000,000 |
|
EVA Emulsion |
330,000 |
|
VAE Powder |
52,000 |
|
EVCL(EVA-VC / EVCL) |
11,000 |
|
Vinyl Acetate |
30,000 |
|
Nitrogen |
35,000 |
|
Liquefied Carbon Dioxide |
28,000 |
|
Allyl Alcohol |
740,000 |
|
1,4-Butanediol |
630,000 |
|
2-Methyl- 1,3-Propanediol |
126,000 |
|
n-Propanol |
63,000 |
|
iso-Butanol |
63,000 |
|
AMPO |
500 |
|
Polyteramethylene-Ether-Glycol |
300,000 |
|
Tetrahydrofuran |
510,000 |
Purchase Information
·
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacturing and sale of vinyl acetate,
ethyl acetate, nitrogen, vinyl acetate-ethylene copolymer emulsion, vinyl acetate-ethylene
redispersible powder, 1,4-butanediol, tetrahydrofuran,
polytetramethylene-ether-glycol, carbon dioxide, allyl alcohol, propanol and
hydrogen pyridine |
|
2 |
Trading of related raw materials and
products. |
|
C801010 |
Manufacturing of basic chemical industries |
|
C801020 |
Manufacturing of petrochemical raw
materials |
|
C801030 |
Manufacturing of precision chemical
materials |
|
C801040 |
Manufacturing of synthetic resin |
|
C801050 |
Manufacturing of plastic materials |
|
C801060 |
Manufacturing of synthetic rubber |
|
C801070 |
Manufacturing of high-pressure gas |
|
C802020 |
Manufacturing of rayon |
|
C802030 |
Manufacturing of paint and varnish |
|
C802120 |
Manufacturing of industrial additives |
|
C901060 |
Manufacturing of refractory |
|
C802120 |
Manufacturing of fertilizer |
|
C802170 |
Manufacturing of toxic chemicals |
|
CC01010 |
Manufacturing of power generation,
transmission, distribution machinery |
|
CC01050 |
Manufacturing of data storage and processing
equipment |
|
CC01080 |
Manufacturing of electronic components |
|
E599010 |
Piping engineering |
|
I601010 |
Leasing |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
· Subject’s raw material for production is purchased from both home and abroad.
It
is introduced that subject imports technology from German and Japan.
· The subject is mainly engaged in sales of chemicals, etc.
Subject’s
products are mainly applied to the industries of electronic, plastic rubber,
textile, paint and automobile, etc.
Subject’s
sales regions include Asia, Europe and America, etc.
Subject’s
major customers are Speciality Construction Brands Inc. and URMI Chemicals
(India), etc.
Major Products
|
No. |
Product |
|
1 |
Vinyl Acetate |
|
2 |
Vinyl Acetate-Ethylene Copolymer Emulsion |
|
3 |
Ethylene-Vinyl Acetate-Vinyl Chloride
Emulsion |
|
4 |
Ethylene-Vinyl Chloride Emulsion |
|
5 |
Vinyl Acetate-Ethylene Redispersible
Powder |
|
6 |
Ethyl Acetate |
|
7 |
Nitrogen |
|
8 |
Liquefied Carbon Dioxide |
|
9 |
Allyl Alcohol |
|
10 |
1,4-Butanediol |
|
11 |
2-Methyl- 1,3-Propanediol |
|
12 |
n-Propanol |
|
13 |
Iso-Butanol |
|
14 |
Alkoxylated 2-Methyl-1,3-Propanediol |
|
15 |
Polytetramethylene-Ether-Glycol |
|
16 |
Tetrahydrofuran |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
PURCHASE
1.
Domestic Purchase
|
Products |
Raw Material, etc. |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Raw Material, etc. |
|
Payment Terms |
L/C, T/T, etc. |
SALES
1.
Domestic Markets
|
Product |
Chemicals, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
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 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 |
Ms. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 64.01 |
|
|
1 |
Rs. 99.84 |
|
Euro |
1 |
Rs. 70.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.