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Report No. : |
305500 |
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Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
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Name : |
CGPC POLYMER CORPORATION |
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Registered Office : |
12F., No.37, Jihu Rd., Neihu Dist., Taipei City 11492, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
19.05.2009 |
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Com. Reg. No.: |
24347565 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing of PVC Powder |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A2 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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: |
12F., No.37,
Jihu Rd., Neihu Dist., Taipei City 11492, Taiwan (R.O.C.) |
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Supplied Address: |
|
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Telephone Number: |
+886-2-8751-6888 |
Notes: The exact name and address are as above.
Notes: Subject declined to disclose its staff number; from
other source we cannot obtain the relevant information, either.
Subject was incorporated
on 2009-5-19 with registered number 24347565
as Joint Stock Company in Taiwan.
Factory
|
Address: |
No. 6 and No.8, Shihua 2nd Rd., Linyuan Dist., Kaohsiung City, Taiwan
(R.O.C.) |
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Date of Registration: |
2011-8-19 |
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Factory Registration Number: |
64006350 |
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Factory Manager: |
Peihong Cai |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-12-7 |
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Major Products: |
184 synthetic resin, plastic and rubber |
Branches
|
Name |
Kaohsiung Branch |
|
Address |
No.8, Shihua 2nd Rd., Linyuan Dist., Kaohsiung City, Taiwan (R.O.C.) |
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Registration Number |
54385853 |
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Date of Registration |
2014-7-10 |
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Manager Name |
Hanfu Lin |
Major Shareholders
|
Name |
Subscription Shares |
|
China General Plastics Corp. |
50,000,000 |
Shareholder Information:
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Registered Name: |
China General Plastics Corp. |
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Registered Address: |
12th Floor, No.37, Ji-Hu Road, Nei-Hu Dist.,
Taipei City, Taiwan, R.O.C. |
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Date of Foundation: |
11686106 |
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Registration Number: |
1964-4-29 |
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Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
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Registered Capital: |
NTD 5,000,000,000 (USD 155,000,000) (As of 2015.02, 1 NTD = 0.031 USD) |
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Paid-up Capital: |
NTD 4,683,034,080 (USD 145,174,056) |
|
Legal Representatives: |
Yigui Wu |
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Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2014-8-26 |
Core Management
Directors
|
1 |
||
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Name |
Yigui Wu |
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Position |
Board Chairman |
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2 |
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Name |
Bingyi Wang |
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Position |
Director |
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3 |
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Name |
Hanfu Lin |
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Position |
Director |
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4 |
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Name |
Yayi Huang |
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Position |
Supervisor |
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5 |
||
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Name |
Hanfu Lin |
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Position |
Manager |
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Date of Appointment |
2012-5-11 |
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Offices & Factories
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Headquarters |
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Add |
12F., No.37, Jihu Rd., Neihu Dist., Taipei City 11492, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of PVC resin and etc.
Subject has a factory in Lin-Yuan, Kaohsiung, Taiwan for production.
Subject obtained the certification of ISO 9001 and etc.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C801020 |
Manufacturing of petrochemical materials. |
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C805010 |
Manufacturing of plastic leather, plastic cloth, plastic board and
plastic pipe. |
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F107200 |
Wholesales of chemical materials. |
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F107990 |
Wholesales of other chemical products. |
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F207200 |
Retails of chemical materials. |
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F207990 |
Retails of other chemical products. |
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C801100 |
Manufacturing of ynthetic resin and plastic. |
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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 PVC powder and etc.
Subject’s sales regions include Asia and etc.
Subject’s major customers are manufacturers of construction materials,
electronic and electrical products and etc.
It is introduced that subject’s products are applied to pipes, PVC film,
ceiling foil, window profile, electric wire & cable, etc.
Details of PVC powder
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Grade(Test Method) |
H-61 |
H-66 |
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K-value(ISO 1628-2) |
60-62 |
65-67 |
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Degree of Polymerization |
800±50 |
1000±50 |
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Bulk Density(g/cc)(ISO 60) |
0.52~0.59 |
0.48~0.56 |
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Particle Size(45 mesh pass %)(Honeywell SRA-150) |
≧99 |
≧99 |
|
Volatiles(%)(ISO 1269) |
≦0.3 |
≦0.3 |
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Residual VCM(ppm)(ISO 6401) |
<1 |
<1 |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
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Payment Terms |
Cash, T/T |
Import
|
Products |
Raw materials |
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Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
PVC powder |
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Selling Terms |
Cash, T/T |
Export
|
Product |
PVC powder |
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Selling Terms |
Cash, T/T |
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. Huang 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. Huang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.92.71 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
TPT |
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.