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Report No. : |
349354 |
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Report Date : |
17.11.2015 |
IDENTIFICATION DETAILS
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Name : |
EVERSWIFTNESS CHEMICAL CORP. |
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Registered Office : |
No.11, Hsin Hseng St., Min Hsiung Industrial District Min Hsiung Hsiang Chia Yi Hsien |
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Country : |
Taiwan |
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Date of Incorporation : |
01.02.1988 |
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Com. Reg. No.: |
22748918 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sales of Chemicals. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 |
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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. 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 the ECFA, including a signed agreement on trade in services and negotiations on trade in goods and dispute resolution, have stalled. In early 2014, the government bowed to public demand and proposed 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 nearly 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 (MOU) 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 Taiwan’s 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: |
No.11, Hsin
Hseng St., Min Hsiung Industrial District Min Hsiung Hsiang Chia Yi Hsien |
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Supplied Address: |
NO. 40-1 CHUNG
CHEN ROAD, MIN-HSIUNG INDUSTRIAL DISTRICT CHIA YI HSIEN, TAIWAN ROC |
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Telephone Number: |
+886-5-221-1919 |
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Fax Number: |
Notes: The exact name and
address are as above.
Notes: Subject declined to disclose its staff number; from
other source we cannot obtain the relevant information, either.
Subject was incorporated
on 1988-2-1 with registered number 22748918
as Joint Stock Company in Taiwan.
Factories
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1 |
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Name: |
Zhongzheng Factory |
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Address: |
No.40-1, Zhongzheng Rd., Minxiong Township, Chiayi County, Taiwan
(R.O.C.) |
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Date of Registration: |
2008-4-30 |
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Factory Registration Number: |
99676033 |
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Factory Manager: |
Yuzheng Su |
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Status: |
In production |
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Date of Last Annual Return: |
2014-12-3 |
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Major Products: |
184 synthetic resin, plastic and rubber |
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2 |
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Address: |
No.11, Hsin Hseng St., Min Hsiung Industrial
District Min Hsiung Hsiang Chia Yi Hsien |
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Date of Foundation: |
1988-7-1 |
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Date of Registration: |
1989-7-25 |
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Factory Registration Number: |
99655074 |
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Factory Manager: |
Yuzheng Su |
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Status: |
In production |
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Date of Last Annual Return: |
2001-11-27 |
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Major Products: |
184 synthetic resin, plastic and rubber |
Major Shareholders
|
Name |
Subscription Shares |
|
Meichun Su |
130,000 |
|
Suying Chen |
50,000 |
Core Management
Directors
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1 |
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Name |
Yuzheng Su |
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Position |
Board Chairman |
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2 |
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Name |
Meichun Su |
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Position |
Director |
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3 |
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Name |
Mingzhou Su |
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Position |
Director |
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4 |
||
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Name |
Suying Chen |
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Position |
Supervisor |
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Offices & Factories
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Headquarters |
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Add |
No.11, Hsin Hseng St., Min Hsiung Industrial District Min Hsiung Hsiang
Chia Yi Hsien |
Production Information
Subject is engaged in manufacturing of chemicals and etc.
Subject has two factories in Taiwan for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
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C801990 |
Manufacturing of other chemical materials. |
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C802990 |
Manufacturing of other chemical products. |
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F107060 |
Wholesales of virulent chemicals. |
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F107200 |
Wholesales of chemical materials. |
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F107990 |
Wholesales of other chemical products. |
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F207060 |
Retails of virulent chemicals. |
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F207200 |
Retails of chemical materials. |
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F207990 |
Retails of other chemicals products. |
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F401010 |
International trading business. |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
It is introduced that subject purchases its raw materials and etc both
at home and abroad.
Subject is engaged in sale of chemicals and etc.
The major products are resin materials such as polyurethane and etc.
Subject’s sales regions include Asia and etc.
Subject’s major customers are chemical industry and etc.
It is introduced that the minimal quantity for the dangerous chemical is
one container.
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 and etc |
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Payment Terms |
Cash, T/T and etc |
Import
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Products |
Raw materials and etc |
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Payment Terms |
L/C, T/T and etc |
Sales
Domestic Markets
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Product |
Chemicals and etc. |
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Selling Terms |
Cash, T/T and etc |
Export
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Product |
Chemicals and etc. |
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Selling Terms |
L/C, T/T and 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 Mr. Kevin 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. Kevin |
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Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.17 |
|
|
1 |
Rs.100.66 |
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Euro |
1 |
Rs.70.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
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Report Prepared
by : |
NIT |
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 |
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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.