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Report No. : |
306624 |
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Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SOLAR FINE CHEMICAL CO., LTD. |
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|
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Registered Office : |
19F., No.161-1, Sungteh Rd., Xinyi Dist.,
Taipei City |
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Country : |
Taiwan |
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Date of Incorporation : |
30.03.1984 |
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Com. Reg. No.: |
09458767 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of chemicals |
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No. of Employee : |
About 140 |
RATING & COMMENTS
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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 |
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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 |
A2 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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: |
19F., No.161-1,
Sungteh Rd., Xinyi Dist., Taipei City, Taiwan (R.O.C.) |
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Supplied Address: |
|
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Telephone Number: |
+886-2-2346-8022 |
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Fax Number: |
+886-2-2759-2659 |
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E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated on
1984-3-30 with registered number 09458767 as Joint Stock Company in Taiwan.
Factories
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1 |
|
|
Name: |
Dayuan Factory |
|
Address: |
No.5, Gong 4th Road, Beigang Village, Dayuan
Township, Taoyuan County, Taiwan |
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Date of Foundation: |
1984-3-24 |
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Date of Registration: |
1985-1-8 |
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Factory Registration Number: |
99628964 |
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Factory Manager: |
Zhongrong Xue |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-12-17 |
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Major Products: |
192 coating, dye and pigment |
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2 |
|
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Name: |
Dayuan Factory 2nd Factory |
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Address: |
No.3, Gong 5th Road, Beigang Village, Dayuan
Township, Taoyuan County, Taiwan |
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Date of Foundation: |
1990-3-21 |
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Date of Registration: |
1991-7-13 |
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Factory Registration Number: |
99628963 |
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Factory Manager: |
Zhongrong Xue |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-12-17 |
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Major Products: |
192 coating, dye and pigment |
Major Shareholders
|
Name |
Subscription Shares |
|
Zhongrong Xue |
1,692,376 |
|
Zhongan Xue |
2,431,664 |
|
Shixiong Wang |
286,201 |
|
Zhongcheng Xue |
724,955 |
|
Xiuying Xue |
743,453 |
|
Zhongjie Xue |
504,833 |
|
Mingyan Xie |
1,855,406 |
|
Xinyuan Xie |
710,014 |
Core Management
Directors
|
1 |
|
|
Name |
Zhongrong Xue |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Zhongan Xue |
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Position |
Deputy Chairman |
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3 |
|
|
Name |
Shixiong Wang |
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Position |
Director |
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4 |
|
|
Name |
Zhongcheng Xue |
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Position |
Director |
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5 |
|
|
Name |
Xiuying Xue |
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Position |
Director |
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6 |
|
|
Name |
Zhongjie Xue |
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Position |
Director |
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7 |
|
|
Name |
Mingyan Xie |
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Position |
Director/Manager |
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Date of Appointment |
1993-7-8 |
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8 |
|
|
Name |
Xinyuan Xie |
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Position |
Supervisor |
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9 |
|
|
Name |
A-Song Huang |
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Position |
Manager |
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Date of Appointment |
1993-7-8 |
Personnel Structure
|
Total Employees |
About 140 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
19F., No.161-1, Sungteh Rd., Xinyi Dist., Taipei City, Taiwan (R.O.C.) |
Production
Information
Subject is engaged in manufacturing of chemicals and etc.
Subject has two factories in Taiwan for production.
Subject obtained the certification of ISO 9001 and ISO 14001.
It is introduced that subject’s annual production is about 20,000 tons.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and sale of all kinds of dye, dye intermediate, pigment,
pigment intermediate (scouring agent, decolorizer, dispersing agent,
softening agent, carrier, levelling agent, desizing agent, dye-fixing agent,
waterproof agent, flameproof agent, resin finishing agent, antistatic agents,
resist agent) |
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-- |
Import and export of the products above. |
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-- |
As an agent assist in developing quoting, bidding and distributing
about your above mentioned products. |
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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.
It is introduced that subject imports from Southeast Asia
Subject is engaged in sale of chemicals and etc.
The major products are reactive dyes, leather dyes, acid dyes, disperse
dyes and cationic dyes.
Subject’s sales regions cover China, Southeast Asia, Europe and America.
Subject’s major customers are manufacturers of yarn, fabric, leather,
paper
It is introduced that subject has many customers such as Toyota Tsusho
America Inc., Robama Sa De Cv
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
Cash, T/T |
Import
|
Products |
Raw materials |
|
Payment Terms |
Sales
Domestic Markets
|
Product |
Chemicals |
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Selling Terms |
Cash, T/T |
Export
|
Product |
Chemicals |
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Selling Terms |
L/C, 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 declined to disclose
its financials citing the grounds of company’s confidentiality; from public
files we found subject’s annual turnover is about USD 30,000,000.
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Mortgage
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
040089 |
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Debtor Name: |
Solar Fine Chemical Co., Ltd. |
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Document Number: |
109365 |
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Date of Registration: |
1992-6-15 |
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Date of Alteration: |
1992-6-15 |
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Status: |
Paid Off |
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.62.14 |
|
|
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
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Report Prepared
by : |
ANK |
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 |
|
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.