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Report No. : |
297383 |
|
Report Date : |
09.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNION CHEMICAL IND. CO., LTD. |
|
|
|
|
Registered Office : |
6th Floor, No9 De-Hui Street Jhong-Shan District Taipei, 104 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
30.09.1971 |
|
|
|
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Com. Reg. No.: |
07057442 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sale of Chemicals. |
|
|
|
|
No of Employees : |
About 70 Employees (Company) About 250 Employees (Group) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Taiwan |
A2 |
A2 |
|
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.
However, negotiations on follow-on components of ECFA, including an agreement
on trade in services, deals 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 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 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 fourth largest, behind those of China, Japan,
and Russia. 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 entry-level jobs.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
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Trading Address: |
|
|
Supplied Address: |
6TH FLOOR, NO9 DE-HUI STREET JHONG-SHAN
DISTRICT TAIPEI, 104, TAIWAN |
|
Telephone Number: |
+886-2-2595-4321 |
|
Fax Number: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1971-9-30 with registered number 07057442
as Joint Stock Company in
Taiwan.
Major Shareholders
|
Name |
Subscription Shares |
|
Shiwen Li |
2,182,859 |
|
Deyi Li |
|
|
3,511,945 |
|
|
Jingwen Liu |
17,320,616 |
|
Zhaoxiong Zhang |
6,299,096 |
|
Senlong Huang |
2,976,020 |
|
Youqing Li |
5,071,350 |
|
Wenxian Wei |
142,914 |
|
Hewen Zhang |
4,845,629 |
The information above is that of subject’s major shareholders.
Factory
|
Name: |
Pingzhen Factory |
|
Address: |
No.378, Hongzhen Road, Xinan Li, Pingzhen City, Taoyuan County, Taiwan |
|
Date of Foundation: |
1990-8-17 |
|
Date of Registration: |
1992-4-2 |
|
Factory Registration Number: |
99623863 |
|
Factory Manager: |
Shiwen Li |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2002-3-28 |
|
Major Products: |
199 other chemical products |
Related Companies
|
1 |
|
|
Name |
Union Chemical Ind. Corp. |
|
Address |
No.378, Hongzhen Road, Xinan Li, Pingzhen City, Taoyuan County, Taiwan |
|
Telephone Number |
+886-3-450-9033 |
|
Fax Number |
+886-3-460-1107 |
|
Principal Activities: |
Manufacturing and sale of building materials, etc |
|
2 |
|
|
Name |
Unishine Chemical Corp. |
|
Address |
6F., No.9, De Hui St., Taipei, Taiwan,
R.O.C. |
|
3 |
|
|
Name |
Union Chemical Ind. (Shanghai) Co., Ltd. |
|
Address |
Room 601, Zhaoyi Science Park East Bldg, No.18, Tianshan Road,
Changning District, Shanghai City, China |
|
Telephone Number |
+86-21-6210-7899 |
|
Fax Number |
+86-21-6225-0474 |
Note: It is introduced that the “Union Chemical Group” has 4 members and
we obtained the relevant information as above for reference.
Core Management
Directors
|
1 |
|
|
Name |
Shiwen Li |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Deyi Li |
|
Position |
Vice-president |
|
3 |
|
|
Name |
Jingwen Liu |
|
Position |
Director |
|
4 |
|
|
Name |
Zhaoxiong Zhang |
|
Position |
Director |
|
5 |
|
|
Name |
Senlong Huang |
|
Position |
Director |
|
6 |
|
|
Name |
Youqing Li |
|
Position |
Director |
|
7 |
|
|
Name |
Wenxian Wei |
|
Position |
Supervisor |
|
8 |
|
|
Name |
Hewen Zhang |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 70 Employees (Company) About 250 Employees (Group) |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
Subject is engaged in manufacturing of chemicals, etc.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C105010 |
Manufacturing of edible fat and oil |
|
C199990 |
Manufacturing of other unclassified food |
|
C801110 |
Manufacturing of fertilizer |
|
C801990 |
Manufacturing of other chemical materials |
|
C802070 |
Manufacturing of pesticide |
|
C802200 |
Manufacturing of coating, paint, dye and pigment |
|
E801010 |
Interior decorating business |
|
F102020 |
Wholesale of edible fat and oil |
|
F102170 |
Wholesale of food and grocery |
|
F102180 |
Wholesale of alcohol |
|
F103010 |
Wholesale of feed |
|
F106010 |
Wholesale of ironware |
|
F107020 |
Wholesale of dye and pigment |
|
F107041 |
Wholesale of pesticide |
|
F107190 |
Wholesale of plastic film and bag |
|
F107200 |
Wholesale of chemicals |
|
F107990 |
Wholesale of other chemical products |
|
F108021 |
Wholesale of western medicine |
|
F108040 |
Wholesale of cosmetic |
|
F108051 |
Sale of cosmetic pigment |
|
F109070 |
Wholesale of stationery, musical instrument, recreational supplies |
|
F111090 |
Wholesale of building materials |
|
F113020 |
Wholesale of electric appliance |
|
F119010 |
Wholesale of electronic materials |
|
F202010 |
Retail of feed |
|
F203010 |
Retail of food and beverage |
|
F203030 |
Retail of alcohol |
|
F206010 |
Retail of ironware |
|
F207020 |
Retail of dye and pigment |
|
F20704 |
Retail of pesticide |
|
F207190 |
Retail of plastic film and bag |
|
F207200 |
Retail of chemicals |
|
F207990 |
Retail of other chemical products |
|
F208021 |
Retail of western medicine |
|
F208040 |
Retail of cosmetic |
|
F208050 |
Retail of B class medicine |
|
F209060 |
Retail of stationery, musical instrument, recreational supplies |
|
F211010 |
Retail of building materials |
|
F213010 |
Retail of electric appliance |
|
F219010 |
Retail of electronic materials |
|
F401010 |
International trade business |
|
F107010 |
Wholesale of paint and coating |
|
G801010 |
Warehousing industry |
|
I503010 |
Landscape and interior design |
|
IC01010 |
Drug inspection |
|
IG01010 |
Biotechnology service |
|
F121010 |
Wholesale of dietary supplement |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
The raw materials for production are mostly purchased in domestic
market.
It is introduced that subject also operates as an agent to importing
chemicals from Germany, USA and Japan, etc and one of subject’s major suppliers
is Lallemand, Inc.
Sales Information
Subject is engaged in sale of chemicals,
etc.
The chemicals sold by subject are applied to the industries of plastic,
rubber, paint, food, cosmetic, pharmaceutical and electronic, etc.
Subject’s sales regions include Taiwan, Mainland China, Vietnam and
other Asian countries.
We obtained some of subject’s agent products information as follows for
reference.
|
Product |
Brand |
Origin |
|
Pigment |
Taiyo Kagaku |
Japan |
|
Nail Polish |
Tevco |
USA |
|
white oil, Vaseline, Xanthan Gum |
Penreco |
USA |
|
Silicone oil |
Bluestar |
France |
|
Animal Nutrition, Bio-Ingredients, etc |
Lallemand |
Canada |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw Materials |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Chemicals |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Chemicals |
|
Selling Terms |
T/T, Cash |
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 introduced that subject’s
annual
turnover is about USD 600,000,000 in 2012, while she declined to disclose any other financials citing the grounds of company’s
confidentiality; from other source we can not obtain the relevant information,
either.
Subject declined to disclose its bank details;
from other source we cannot 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.
|
Name |
Ms. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
|
1 |
Rs.96.37 |
|
Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
-- |
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.