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Report No. : |
350032 |
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Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
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Name : |
STAR ONE INDUSTRIAL CO., LTD. |
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Registered Office : |
No.12, 2 St., Poutzu Industrial District,
Poutzu Jen, Chia Yi Hsien |
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Country : |
Taiwan |
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Date of Incorporation : |
30.10.1982 |
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Com. Reg. No.: |
66590301 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of composite
materials. |
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No. of Employees : |
About 80 Employees |
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. 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: |
4F-6, No.3,
Wu-Chuan 1st Rd., Hsien Chuang, Taipei Hsien, Taiwan. R.O.C |
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Supplied Address: |
4F-6, NO.3,
WU-CHUAN 1ST RD HSIN CHUANG, TAIPEI HSIEN TAIWAN |
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Telephone Number: |
+886-2-2299-0160 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact name and address are as above.
Subject was incorporated
on
Factories
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1 |
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Address: |
4F-6, No.3, Wu-Chuan 1st Rd.,
Hsien Chuang, Taipei Hsien, Taiwan. R.O.C |
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Date of Foundation: |
1990-10-30 |
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Date of Registration: |
1990-11-19 |
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Factory Registration Number: |
99603368 |
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Factory Manager: |
Yingxian Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2002-3-5 |
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Major Products: |
220 Plasthetics |
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2 |
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Address: |
No.12, 2nd St., Puzi Industrial Park, Puzi City, Chiayi County, Taiwan
(R.O.C.) |
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Date of Foundation: |
1969-1-1 |
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Date of Registration: |
1983-7-1 |
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Factory Registration Number: |
99656000 |
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Factory Manager: |
Yingxian Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2015-2-5 |
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Major Products: |
184 Synthetic resin, plastic cement and rubber 220 Plasthetics 283 Electric wire and wiring accessories 331 Recreational supplies |
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3 |
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Address: |
No.11 and No.13, 2nd St., Puzi Industrial Park, Puzi City, Chiayi
County, Taiwan (R.O.C.) |
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Date of Foundation: |
1987-6-29 |
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Date of Registration: |
1994-10-11 |
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Factory Registration Number: |
99656001 |
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Factory Manager: |
Yingxian Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2015-2-5 |
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Major Products: |
184 Synthetic resin, plastic cement and rubber |
Note:
If a plant established earlier than the owning company ("the
subject"), the main reasons usually refer to the following:
1. The subject purchased the said plant from other company;
2. The plant used to belong to other company and the subject
merged with this company as the acquiring party. It absorbed the said company
including its plants.
In this case, we could not confirm the exact reason from any other
sources.
Major Shareholders
|
Name |
Subscription Shares |
|
Yingxian Chen |
10,700,000 |
|
Qiuyue Chen |
433,333 |
|
Ziqiang Xu |
400,000 |
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Tingzhen Lai |
200,000 |
Core Management
Directors
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1 |
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Name |
Yingxian Chen |
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Position |
Board Chairman |
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2 |
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Name |
Qiuyue Chen |
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Position |
Director |
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3 |
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Name |
Ziqiang Xu |
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Position |
Director |
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4 |
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Name |
Tingzhen Lai |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 80 Employees |
Offices & Factories
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Headquarters |
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Add |
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Production Information
Subject is engaged in manufacturing of composite materials, etc.
Subject has factories in Taiwan (about 14,000 square meters) for production.
Subject obtained the certification of ISO 9001 and UL.
It is introduced that subject’s annual production capacity is about
1,200 MTS.
It is introduced that subject has 21 Extruder and lab equipment
(including High Multiple Electron Microscope, Melt Flow Index Instrument,
Universal Materials Testing Machine, Digital Rockwell Hardness, Programmable
Temperature and Humidity Test Chamer, Digital Precision Microelectronic
Balance, Heat Distortion Temperature Tester, Izod Impact Tester).
Purchase Information
The registered activities of subject:
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Details |
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1 |
Sales of plastic materials, manufacture of reproduced plastic grains
and plastic dyeing |
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2 |
Manufacture, processing and sales of plastic toys and plastic
container |
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3 |
Sales of Industrial chemical raw materials (except controlled products
and toxic products) |
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4 |
Price quoting, bidding service and marketing service of home and abroad
companies’ products (except future goods) |
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5 |
As an agent for import and export of above items |
Subject purchases its raw materials and etc both at home and abroad.
From public files, we find some information about subject’s suppliers as
following:
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Raw Material |
Supplier |
|
PP |
Sumitomo Corp Formosa Plastics Mitsubishi |
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NYLON |
Solutia Inc. |
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PBT |
Changchun Plastics Co., Ltd |
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PC, ABS |
Chi Mei Corporation |
Subject is engaged in sale of composite materials, etc.
Subject’s sales regions include Asia, Europe and America, etc.
Subject’s major customers are manufacturers of automobile parts, rubber
items and plastic products, etc.
It is introduced that subject can provide customized service.
It is introduced that subject has many
customers such as Mitsubishi Motors Taiwan, Yulon Motor Co., Ltd., Kuozui
Motors, Ltd., Sanyang Industry Co., Ltd and Feng Tay Enterprise, etc.
Major Products
|
Type |
Product |
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Polypropylene (PP) Composites Series |
High Impact Heat Resistance High Stiffness Heat Resistance Flame Retardant Glass Fiber-Reinforced |
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Nylon (PA) Composites Series |
Nylon 6 Series Super Tough Glass Fiber Mineral Fiber-Reinforced High Impact-Glass Fiber-Reinforced Flame Retardant |
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PBT Composites Series |
Glass Fiber-Reinforced Glass Fiber-Flame Retardant Flame Retardant PC/PBT Glass Fiber- Reinforced |
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PC/ABS & PC/PBT Plastic Alloys Series |
PC Glass Fiber-Reinforced PC/ABS Alloy PC/ABS High Impact- Flame Retardant PC/ABS Glass Fiber- Reinforced PC/PBT Alloy |
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
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
|
Product |
Composite materials, etc. |
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Selling Terms |
Cash, T/T and etc |
Export
|
Product |
Composite materials, 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 Ms. Zeng 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. Zeng |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
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|
1 |
Rs.101.03 |
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Euro |
1 |
Rs.70.78 |
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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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.