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Report No. : |
333040 |
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Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
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Name : |
ABLE ADVANCED CHEMICALS COMPANY LTD. |
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Registered Office : |
1F, No.1, Lane 109, Kanghwa St. |
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Country : |
Taiwan |
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Date of Incorporation : |
19.07.1997 |
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Com. Reg. No.: |
16135834 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sale of Dyes. |
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No. of Employees : |
About 35 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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 – 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 |
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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.
However, follow-on components of ECFA, including a signed agreement on trade in
services, negotiations 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 under
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 fifth largest, behind those of China, Japan,
Saudi Arabia, 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, 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 decent entry-level jobs.
|
Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
3F., No. 572
Mingshen N. Rd., Sec. 1, Gueishan Shiang, Taoyuan, Taiwan |
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Supplied Address: |
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Telephone Number: |
+886-3-352-9566 |
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Fax Number: |
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E-mail: |
Notes: The exact address is as above, and the supplied
address is subject’s registered address.
Subject was incorporated on
1997-7-19 with registered number 16135834 as Joint Stock Company in Taiwan.
Change of Name
|
Former Chinese Name |
文擘科技有限公司 |
|
Current Chinese Name |
文擘科技股份有限公司 |
Factory
|
Address: |
3/F., No. 572 Mingshen N. Rd., Sec. 1, Gueishan
Shiang, Taoyuan, Taiwan |
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Date of Registration: |
2004-3-3 |
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Factory Registration Number: |
99687498 |
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Factory Manager: |
Wenju Su |
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Status: |
In Production |
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Date of Last Annual Return: |
2015-3-7 |
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Major Products: |
192 coating, dye and pigment |
Offices
|
1 |
|
|
Name |
Shanghai Office |
|
Address |
E, 28F., Liyi House ZhongShan Square, No. 977 HongQiao Rd., Chang Ning
District, Shanghai, China 200051 |
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Telephone Number |
+86-21-6208-6691 |
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Fax Number |
+86-21-6209-4326 |
|
2 |
|
|
Name |
South China Office |
|
Address |
Room 1001, WeiHao Building, HeYang Rd., HeTian District, Hou Jie
Township, Dong Suan City, Guang Dong Province, China |
|
Telephone Number |
+86-769-8524-6501 |
|
Fax Number |
+86-769-8161-1033 |
Major Shareholders
|
Name |
Subscription Shares |
|
Wenju Su |
1,560,000 |
|
Yangren Chen |
520,000 |
|
Yuexia Su |
260,000 |
|
Xiulan Su |
260,000 |
Core Management
Directors
|
1 |
|
|
Name |
Wenju Su |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yangren Chen |
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Position |
Director |
|
3 |
|
|
Name |
Yuexia Su |
|
Position |
Director |
|
4 |
|
|
Name |
Xiulan Su |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 35 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
3F., No. 572
MingShen N. Rd., Sec. 1, GueiShan Shiang, Taoyuan, Taiwan |
Production Information
Subject is engaged in manufacturing of dyes.
Subject has a factory in Taiwan for production.
It is introduced that subject has related factories in India and
Thailand for production.
It is introduced that the annual capacity of subject is over 1,500 tons.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Development and trading of chemical materials for dyes, textiles and
dyeing auxiliaries |
|
-- |
Trading of dyes and pigments |
|
-- |
Trading business of import and export for above products |
|
C801030 |
Manufacturing of fine chemicals |
|
C802150 |
Manufacturing of dyes and pigments |
The raw materials for production are both purchased in Taiwan and the
Mainland of China and from abroad such as Southeast Asia.
Subject is engaged in sale of dyes.
The major products of the subject are dyes for double face, dyes for
textile, metal complex dyes, dyes for nylon or wool, dyes for aluminum.
Subject’s sales regions are domestic market and abroad.
It is introduced that subject has its own research and development
center in Taiwan.
Subject’s major customers are manufacturers of textiles, leather and
metal products, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Dyes |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Dyes |
|
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
sources we could not obtain such information, either.
|
Name |
Shanghai Commercial And Savings Bank Ltd |
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. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
|
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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 |
|
|
-- |
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.