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Report No. : |
322063 |
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Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
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Name : |
METHYL CO., LTD. |
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Registered Office : |
7F.-2, No.1, Kuang-Fu South Rd., Songshan
District, Taipei City 105, |
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Country : |
Taiwan |
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Date of Incorporation : |
23.03.1990 |
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Com. Reg. No.: |
23635912 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in trading
of chemical materials |
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No. of Employee : |
About 50 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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, 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.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
7F.-2, No.1, Kuang-Fu South Rd., Songshan
District, Taipei City 105, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-2769-5558 |
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Fax Number: |
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E-mail: |
Notes: The exact name and
address are as above. The supplied address is not complete.
Subject was incorporated on 1990-03-23 with registered number 23635912 as Private Limited Liability
Company in Taiwan.
Subject did not
register any subsidiaries or branches; from other source we could not obtain
the relevant information, either.
Major Shareholders
|
Name |
Subscription Amount |
|
Qingda Zhong |
|
|
25,000,000 |
Core Management
Director
|
Name |
Qingda Zhong |
|
Position |
Director |
Personnel Structure
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Total Employees |
About 50 Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
7F.-2, No.1,
Kuang-Fu South Rd., Songshan District, Taipei City 105, Taiwan (R.O.C.) |
Production Information
l
Subject is a trader of chemical materials without any production activities.
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
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-- |
General Import and Export (Except Futures) |
|
-- |
Agent the business of bidding, quotation and sales
of domestic and foreign manufacturers. |
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F107070 |
Veterinary Drug Wholesaling |
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F107041 |
Pesticide Wholesaling |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The raw materials for production are purchased from
both home and abroad.
We obtained
subject’s suppliers’ information from public files for your reference.
|
Domestic Suppliers |
1. Formosa Chemical & Fiber Corp. 2. Chang-Chung Petrochemical Co., Ltd. 3. Formosa Plastics Corporation 4. Dairen Chemical Corporation 5. Kaohsiung Monomer Co., Ltd. 6. Lee Chang Yung Chemical Industry Corp. 7. Nan Ya Plastics Corporation 8. Oriental Union Chemical Corp. 9. Shiny Chemical Industrial Co., Ltd. 10. Taiwan Fertilizer Company Limited 11. Taiwan Prosperity Chemical Corp. |
|
Foreign Suppliers |
1.Evonik Industries Ag (Hong Kong) 2.Cytec Surface Specialities (Taiwan) 3.Eternal Showa Highpolymer Corporation Limited 4.Oxea Gmbh (Creater China) 5.Taminco N. V. (Belgium) Vix Company Limited 6.Reliance Industries Limited (Asia) 7.Exxonmobile Chemical International Ltd. (Asia) 8.Taminco N.V. (Belgium) |
l Subject is engaged
in sales of chemical materials,
etc.
l
The major products are solvents, plasticizers,
surfactants, copolymers, composite materials, acrylate and other monomers and
so on.
l
Subject’s products are mainly applied for plastic
and rubber products, etc.
l
Subject’s sales regions are domestic market, Korea,
Japan, Philippine, India, Vietnam, Thailand, Jordan, Australia America ,Russia,
Columbia, Brazil and Chili, etc.
l
Subject’s major customers are petrifaction products
manufacturers, etc.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw material, etc. |
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Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Raw material, etc. |
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Payment Terms |
L/C, T/T, etc. |
1.
Domestic Markets
|
Product |
Chemical materials, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Chemical materials, etc. |
|
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
Up to date of
reporting, no existing or latent litigation of the subject has been found.
Interview Details
|
Name |
Mr. Liu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.55 |
|
|
1 |
Rs.99.86 |
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Euro |
1 |
Rs.72.67 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ASH |
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 |
-- |
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.