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Report No. : |
330383 |
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Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
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Name : |
EXCEL CHEMICAL CORPORATION |
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|
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Registered Office : |
Rm. A, C, 9 Fl., No.25, Sec.4, Jen Ai Rd.,
Taipei |
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|
|
|
Country : |
Taiwan |
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|
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Date of Incorporation : |
15.11.1989 |
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Com. Reg. No.: |
23531178 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Engaged in Manufacturing and sale of chemicals including Maleic Anhydride, Methyl Butanone, Tert-Butyl Ether & Liquefied Petroleum Gas |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
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 |
|
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 – 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. 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: |
+886-2-2741-5577 |
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Fax Number: |
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
|
Registered Name: |
Excel Chemical Corporation |
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Registered Address: |
Rm. A, C, 9 Fl., No.25, Sec.4, Jen Ai Rd., Taipei Taiwan R.O.C. |
|
Date of Foundation: |
1989-11-15 |
|
Registration Number: |
23531178 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 2,000,000,000 (USD 64,000,000) (As of 2015.02, 1 NTD = 0.0320 USD) |
|
Paid-up Capital: |
NTD 1,794,864,500 (USD 57,435,664) |
|
Legal Representatives: |
Chengqing Wu |
|
Legal Form: |
|
|
Principal Activities: |
Engaged in
Manufacturing and sale of chemicals including Maleic
Anhydride, Methyl Butanone, Tert-Butyl Ether & Liquefied Petroleum Gas |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Note: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant
information, either.
Subject was
incorporated on 1989-11-15 with registered number 23531178 as Joint Stock
Company in Taiwan.
|
Name |
Subscription Shares |
|
Tasco Chemical Corporation |
80,102,104 |
|
Mega International Commercial
Bank Co., Ltd. |
10,800,447 |
|
Dazhan Investment and Development Co.,
Limited (Literal Translation) |
23,326,761 |
The information above
is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Tasco Chemical Corporation |
|
Registered Address: |
No.25-9A, Morrison Plaza, Sec.4,
Jen Ai Road, Taipei, Taiwan, R.O.C. |
|
Date of Foundation: |
1982-4-26 |
|
Registration Number: |
30974253 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
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Registered Capital: |
NTD 3,500,000,000 (USD 112,000,000) (As of 2015.02, 1 NTD = 0.0320
USD) |
|
Paid-up Capital: |
NTD 3,016,679,320 (USD 96,533,738) |
|
Legal Representatives: |
Chengqing Wu |
|
Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2014-7-24 |
|
2 |
|
|
Registered Name: |
Mega International Commercial
Bank Co., Ltd. |
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Registered Address: |
No.100, Jilin Rd., Zhongshan
Dist., Taipei City 10424, Taiwan (R.O.C.) |
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Date of Foundation: |
1928-10-26 |
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Registration Number: |
03705903 |
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Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
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Registered Capital: |
NTD 77,000,000,000 (USD 2,464,000,000) (As of 2015.02, 1 NTD = 0.0320
USD) |
|
Paid-up Capital: |
NTD 77,000,000,000 (USD
2,464,000,000) |
|
Legal Representatives: |
Youcai Cai |
|
Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2014-12-17 |
|
3 |
|
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Registered Name: |
Dazhan Investment and Development Co., Limited (Literal Translation) |
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Registered Address: |
Room A, 11th Floor,
No.25, Sec 4, Ren-ai Road, Da-an District, Taipei City, Taiwan |
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Date of Foundation: |
1989-10-16 |
|
Registration Number: |
23474140 |
|
Registry: |
Taipei City Government |
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Registered Capital: |
NTD 190,666,560 (USD 6,101,329.92) (As of 2015.02, 1 NTD = 0.0320
USD) |
|
Paid-up Capital: |
NTD 190,666,560 (USD
6,101,329.92) |
|
Legal Representatives: |
Suyue Yang |
|
Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2007-12-20 |
Factory
|
Name: |
Lin Yuan Factory |
|
Address: |
No.2, Shihua 2nd Road, Xizhou Li, Linyuan
District. Kaohsiung City, Taiwan |
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Date of Foundation: |
1990-4-27 |
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Date of Registration: |
1990-4-27 |
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Factory Registration Number: |
99661504 |
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Factory Manager: |
Chengqing Wu |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-12-22 |
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Major Products: |
199 other chemical products |
Core Management
|
1 |
|
|
Name |
Chengqing Wu |
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Position |
Board Chairman & Manager |
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Date of Appointment for the Manager |
2002-6-27 |
|
2 |
|
|
Name |
Suyue Yang |
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Position |
Director |
|
3 |
|
|
Name |
Shangbin Wu |
|
Position |
Director |
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4 |
|
|
Name |
Peijuan Wu |
|
Position |
Director |
|
5 |
|
|
Name |
Ruiyuan Fu |
|
Position |
Director |
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6 |
|
|
Name |
Peirong Wu |
|
Position |
Supervisor |
Offices &
Factories
|
|
Headquarters |
|
Add |
Room A, C, 9th Fl., No.25, Sec.4,
Jen Ai Rd., Taipei Taiwan R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of
chemicals
l
Subject has a factory in Kaohsiung
City, Taiwan for production.
l
It is introduced that subject’s annual
production capacity of methyl tert-butyl ether is about 250,000 tons.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacturing, sales and trading business of
import and export of maleic anhydride |
|
2 |
Manufacturing, processing, sales and
trading business of import and export of butane, methyl tert-butyl ether,
Methyl third amyl ether, ethyl tert-butyl ether, unsaturated polyester resin,
marin anhydride copolymer, lubricant additive, fumaric acid, ferrous
fumarate, malic acid, succinic acid and fire retardant |
|
3 |
Manufacturing, sales and trading business
of import and export of alkyd resin, petroleum resin, polyester plasticizer,
butanediol, tartaric acid, butyrolactone, polyacrylamide,
cyclohexanedimethanol and other chemical products |
|
4 |
Manufacturing, sales and trading business
of import and export of resin curing agent, organic acid compounds, organic imine
compounds and other products made of marin anhydride derivative compounds |
|
5 |
Filling, split charging and trading of
domestic liquefied petroleum gas |
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6 |
Sales and trading business of import and
export of acetylene and carbinol |
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7 |
Agent of domestic and overseas
manufacturers’ chemical products’ sales, importing and exporting business |
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8 |
Leasing and sales of parking lot and
industrial land, factory building, warehouse |
|
9 |
Importing and exporting business of
construction materials |
|
10 |
Importing and exporting business of
cosmetics and lubricating oil |
|
I601010 |
Rent business |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
It is introduced that subject’s raw materials
for production are mostly purchased in domestic market.
Sales Information
l Subject
is engaged in sale of chemicals
l
The major products sold by subject
include maleic anhydride, methyl butanone, tert-butyl ether & liquefied
petroleum gas
l
The sales regions of the subject
include domestic market, other Asian countries, Europe and America, etc.
l
Subject’s major customers are ICC
Chemical Corporation and Satyen Polymers Pvt. Ltd..
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash |
2.
Import
Subject
has little import.
Sales
1.
Domestic Markets
|
Product |
Chemicals |
|
Selling Terms |
T/T, Cash |
2.
Export
|
Product |
Chemicals |
|
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 other source we can not obtain the relevant information, either.
Subject
declined to disclose any information about bankers, and we can not obtain the
information from other source.
Mortgage
|
Case Type: |
Chattel Mortgage |
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Certificate No.: |
038355 |
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Debtor Name: |
Excel Chemical Corporation |
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Document Number: |
326559 |
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Date of Registration: |
1991-10-4 |
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Date of Alteration: |
1991-10-4 |
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Status: |
Paid off |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Wu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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 |
|
|
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 |
-- |
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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.