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Report No. : |
323000 |
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Report Date : |
23.05.2015 |
IDENTIFICATION DETAILS
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Name : |
TEN POW CHEMICAL INDUSTRY CO., LTD. |
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Registered Office : |
No.37, Lane 480, Sec.2, Feng Shih Rd., Fengyuan Dist., Taichung City 420, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
07.06.1978 |
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Com. Reg. No.: |
55845290 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sale of Textiles. |
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No. of Employees : |
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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Taiwan |
A2 |
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, 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: |
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Supplied Address: |
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Telephone Number: |
+886-37-877566 |
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Fax Number: |
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E-mail: |
Note: The exact name and address are as above.
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Registered Name: |
Ten Pow Chemical Industry Co., Ltd. |
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Registered Address: |
No.37, Lane 480, Sec.2, Feng Shih Rd.,
Fengyuan Dist., Taichung City 420, Taiwan (R.O.C.) |
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Date of Foundation: |
1978-6-7 |
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Registration Number: |
55845290 |
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Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2015.5, 1 NTD = 0.0328 USD) |
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Paid-up Capital: |
NTD 29,000,000 (USD 951,200) |
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Legal Representatives: |
Pingshan Xie |
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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: |
Subject was incorporated
on 1978-6-7 with registered number 55845290
as Joint Stock Company in Taiwan.
Factory
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Name: |
Sanyi Plant |
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Address: |
No.40-25, Po Kung Keng, San Yi. Miao Li Hsien, 367 Taiwan |
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Date of Foundation: |
1998-9-21 |
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Date of Registration: |
1999-10-8 |
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Factory Registration Number: |
99631628 |
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Factory Manager: |
Pingshan Xie |
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Status: |
In production |
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Date of Last Annual Return: |
2014-4-17 |
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Major Products: |
185 Man-made fibre |
Major Shareholders
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Name |
Subscription Shares |
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Pingshan Xie |
300,000 |
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Lixuan Xie |
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500,000 |
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Mengzhi Xie |
510,000 |
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Peihua He |
261,000 |
Core Management
Directors
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1 |
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Name |
Pingshan Xie |
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Position |
Board Chairman |
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2 |
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Name |
Lixuan Xie |
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Position |
Director |
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3 |
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Name |
Mengzhi Xie |
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Position |
Director |
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4 |
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Name |
Peihua He |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 50 employees |
Offices & Factories
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Headquarters |
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Add |
Production Information
Subject is engaged in manufacturing of textiles.
Subject has a factory in Miaoli, Taiwan for production.
Subject obtained the certification of 3M.
Purchase Information
The registered activities of subject:
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1 |
Manufacturing and processing of man-made fibers: nylon (polyamine)
fiber bulk, Dacron (dion) fiber bulk, polyethylene fiber bulk and
polypropylene fiber |
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2 |
Trading of related machinery and spare parts |
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3 |
Import and export business for above mentioned affairs. |
The components and raw material for production are mostly purchased in
domestic market.
It is introduced that subject import machinery and equipment from Japan
and South Korea.
Subject is engaged in sale of textiles, etc.
Subject’s major products are nylon fibre, functional fiber, woolen
spinning, cotton spun yarn,
electrostatic flocking, non-woven fabric and carpet textile, etc.
Subject’s sales regions include Taiwan domestic market, Europe, USA,
India and Australia, etc.
Subject’s major types of customers are manufacturers of garment, shoes,
toys and carpet, 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 materials |
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Payment Terms |
T/T, Cash |
Import
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Products |
Machinery and equipment |
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Payment Terms |
L/C, T/T |
Sales
Domestic Markets
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Product |
Textiles |
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Selling Terms |
T/T, Cash |
Export
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Product |
Textiles |
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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.
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 |
Ms. Yao |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
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|
1 |
Rs.99.67 |
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Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.