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Report No. : |
333593 |
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Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
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Name : |
HIFORCE CHEMICALS CO., LTD. |
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Formerly Known As : |
HIFORCE CHEMICALS CORP. |
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Registered Office : |
No.6, Fu Hsing
Rd., Feng Shan Vill., Hu Kou Hsiang, Hsin Chu County, Taiwan, R.O.C. |
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Country : |
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Date of Incorporation : |
04.11.1971 |
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Com. Reg. No.: |
33288341 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sales of Chemical
Products. |
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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 |
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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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Taiwan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
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.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
14/F, NO. 268, SEC. 1, Wen Hwa Road, Panchiao Dist., New Taipei City, Taiwan |
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Supplied Address: |
14/F, NO 268, WEN HWA ROAD, SEC 1, PANCHIAO CITY TAIPEI HSEIN TAIWAN |
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Telephone Number: |
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Fax Number: |
Note: The exact name and address are as above.
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Registered Name: |
Hiforce Chemicals Co., Ltd. |
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Registered Address: |
No.6, Fu Hsing
Rd., Feng Shan Vill., Hu Kou Hsiang, Hsin Chu County, Taiwan, R.O.C. |
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Date of Foundation: |
1971-11-4 |
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Registration Number: |
33288341 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2015.7, 1 NTD = 0.0321 USD) |
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Paid-up Capital: |
NTD 29,000,000 (USD 930,900) |
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Legal Representatives: |
Taiping Gao |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Note: Subject declined to
disclose its staff number, and from other source we can’t obtain the
information, either.
Subject was incorporated
on 1971-11-4 with registered number 33288341
as Joint Stock Company in Taiwan.
Change of Name
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Former English Name: |
Hiforce Chemicals Corp. |
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Current English Name: |
Hiforce Chemicals Co., Ltd. |
Factory
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Address: |
No.6, Fu Hsing
Rd., Feng Shan Vill., Hu Kou Hsiang, Hsin Chu County, Taiwan, R.O.C. |
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Tel: |
+886-3-598-3355 |
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Fax: |
+886-3-598-0173 |
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Date of Foundation: |
1978-6-26 |
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Date of Registration: |
1986-1-28 |
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Factory Registration Number: |
99630717 |
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Factory Manager: |
Taiping Gao |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-5-19 |
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Major Products: |
199 other chemical products |
Related Company
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Name: |
Xieming Chemical Engineering Co. Ltd. (literal translation) |
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Address: |
14/F, NO. 268, SEC 1, Wen Hwa Road, Panchiao Dist., New
Taipei City, Taiwan |
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Tel: |
+886-2-2252-7121 |
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Fax: |
+886-2-8252-3888 |
Major Shareholders
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Name |
Subscription Shares |
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Taiping Gao |
229,900 |
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Yongqin Li |
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507,500 |
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Yongsheng Gao |
193,900 |
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Zhonghe Wu |
507,500 |
Core Management
Directors
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1 |
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Name |
Taiping Gao |
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Position |
Board Chairman |
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2 |
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Name |
Yongqin Li |
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Position |
Director |
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3 |
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Name |
Yongsheng Gao |
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Position |
Director |
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4 |
||
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Name |
Zhonghe Wu |
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Position |
Supervisor |
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Offices & Factories
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Headquarters |
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Add |
14/F, NO. 268, SEC
1, Wen Hwa Road, Panchiao Dist., New Taipei City, Taiwan |
Production
Information
· Subject is engaged in manufacturing of chemical products.
Subject
has a factory in Taiwan for production.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
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F107200 |
Wholesale of chemicals |
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C801010 |
Manufacturing of basic chemical |
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C801110 |
Manufacturing of fertilizer |
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C802200 |
Manufacturing
of paint, dyestuff and pigment |
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C802080 |
Manufacturing of circumstantial drug use |
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C802090 |
Manufacturing of cleaning supplies |
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C802120 |
Manufacturing of industrial additives |
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J101030 |
Waste collection industry |
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J101040 |
Waste disposal industry |
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J101080 |
Resources recycling industry |
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-- |
Besides licensed business, all other business items those are not
banned or restricted. |
The components and raw material for production are mostly purchased in
domestic market.
· Subject is engaged in sale of chemical products.
The
major products sold by the subject are Phosphoric acid, sodium acetate, sodium
nitrate. Fluorine sodium silicate, etc.
It
is introduced that subject’s products are mainly applied in metal surface treatment
agent, chemical agents, glass, construction material and water treatment
products, etc.
Subject’s
sales regions include domestic market, Singaopore and
Malaysia, etc.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
PURCHASE
Domestic Purchase
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Products |
Raw material, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
Subject has little import.
SALES
Domestic Markets
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Product |
Chemical products. |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
Chemical products. |
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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
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1 |
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Trial Number: |
2014, Su, 165 |
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Date of Trial: |
2015-6-30 |
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Reason: |
Payment of dividends. |
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Claimant: |
Boju Gao |
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Defendant: |
Hiforce Chemicals Co., Ltd. |
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2 |
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Trial Number: |
2013, Su, 543 |
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Date of Trial: |
2014-5-30 |
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Reason: |
Compensation for damages |
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Claimant: |
Musong Liang |
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Defendant: |
Yubao Gao |
Interview Details
|
Name |
Ms. Lin |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
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|
1 |
Rs.99.71 |
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Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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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.