|
Report No. : |
343635 |
|
Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHANG CHUN PLASTICS CO., LTD. |
|
|
|
|
Registered Office : |
7F. No.301, Songkiang Road, 7th Fl., Taipei,
Taiwan R.O.C. |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
28.12.1956 |
|
|
|
|
Com. Reg. No.: |
11384708 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of Chemicals. |
|
|
|
|
No. of Employees : |
About 2,000 Employees (Company) About 5,000 Employees (Group) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
|
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. 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.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886 2-2500-1800 |
|
Fax Number: |
+886 2-2501-8018 |
Notes: The exact name and address are as above.
Subject was incorporated
on 1957-12-28 with registered number 11384708 as Joint Stock Company in Taiwan.
Factories
|
1 |
|
|
Name: |
Hsin-Chu Factory |
|
Address: |
No.8, Chung Hua Road, Fong Shan Village, Hu-Kou Industrial Park,
Hsin-Chu |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1969-8-1 |
|
Factory Registration Number: |
99630352 |
|
Factory Manager: |
Yisen Wang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2015-1-30 |
|
Major Products: |
181 basic chemical material 184 synthetic resin, plastic, rubber 199 other chemical products 243 copper 263 printed circuit board 339 other product |
|
2 |
|
|
Name: |
Shipai Factory |
|
Address: |
No.1, Jianmin Road, Wenlin Li, Beitou District, Taipei City, Taiwan |
|
Date of Foundation: |
1958-12-3 |
|
Date of Registration: |
1959-3-3 |
|
Factory Registration Number: |
63020496 |
|
Factory Manager: |
Qingrong Xie |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-10-31 |
|
Major Products: |
181 basic chemical material |
|
3 |
|
|
Name: |
Mailiao Factory |
|
Address: |
No.27, Formosa Industrial Park, Sansheng Village, Miaoliao Township, Yunlin
County, Taiwan |
|
Date of Registration: |
2002-11-14 |
|
Factory Registration Number: |
99653930 |
|
Factory Manager: |
Jinjun Cai |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2015-4-27 |
|
Major Products: |
182 petrochemical materials 184 synthetic resin, plastic, rubber |
|
4 |
|
|
Name: |
Kaohsiung Factory |
|
Address: |
No. 8, 12, 14, Industrial 1st Road, Renwu District, Kaohsiung City, Taiwan |
|
Date of Foundation: |
1972-9-21 |
|
Date of Registration: |
1990-12-31 |
|
Factory Registration Number: |
99661991 |
|
Factory Manager: |
Shaoming Du |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-12-22 |
|
Major Products: |
181 basic chemical material 184 synthetic resin, plastic, rubber 199 other chemical product 220 plastic product |
|
5 |
|
|
Name: |
Dafa Factory |
|
Address: |
No.8, Huaxi Road, Guoxi Li, Daliao District, Kaohsiung City, Taiwan |
|
Date of Foundation: |
1988-8-31 |
|
Date of Registration: |
1994-3-4 |
|
Factory Registration Number: |
99663373 |
|
Factory Manager: |
Houfu Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2015-9-29 |
|
Major Products: |
159 other paper product 184 synthetic resin, plastic, rubber 199 other chemical product 339 other product 231 glass and glassware 182 petrochemical material |
|
6 |
|
|
Name: |
Dafa 2nd Factory |
|
Address: |
No.6, Huaxi Road, Guoxi Li, Daliao District, Kaohsiung City, Taiwan |
|
Date of Registration: |
2004-11-26 |
|
Factory Registration Number: |
99685671 |
|
Factory Manager: |
Houfu Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2015-9-29 |
|
Major Products: |
181 basic chemical material |
Offices
|
Name: |
Tainan Office |
|
Address: |
No. 81, Sec 1, Min Sheng South Road, Guiren District, Taiwnan City,
Taiwan |
Major Related
Companies
|
Chang Chun PetroChemical Co., LTD. Dairen Chemical Corporation Tai Hong Circuit Ind. Co., LTD. Chang Chiang Chemical Co., LTD. Tsu-Kong Co., LTD. Triplex Chemical Corporation Ji Lin Chemical Co., LTD. Sumitomo Bakelite (Taiwan) Corporation Limited Polyplastics Taiwan Co., Ltd. RCCT TECHNOLOGY CO., LTD. Jinzhou Technology Co., Ltd. Chang Chun Chemical (JiangSu) Co., Ltd. Chang Chun Chemical (ZhangZhou) Co., Ltd. Chang Chun SB (Changshu) Co., Ltd. Adeka Fine Chemical (Changshu) Co., Ltd. Chang Chun TOK (Changshu) Company Ltd. Chang Long Chemical (ShenZhen) Co., Ltd. Chang Chiang Chemical (Shanghai) Co., Ltd. Dairen Chemical (Jiangsu) Co., Ltd. Dairen Chemical (M) Sdn. Bhd. Chang Chun (Singapore) PTE., Ltd. CCD (Singapore) PTE. Ltd. Chang Chun Chemical (Panjin) Co., Ltd. PT. Chang Chun DPN Chemical Industry Chang Chun Japan Co., Ltd. CCD Germany GmbH Guangdong Shen Xing Chemical Ltd. Co. |
Major Shareholders
|
Name |
Subscription Shares |
|
Longxing Liao |
24,282,527 |
|
Xinyi Zheng |
66,512,289 |
|
Shuhong Lin |
17,425,018 |
|
Xiandong Lin |
20,710,887 |
|
Zheng Zheng |
21,673,207 |
|
Qiongyu Liao |
17,544,182 |
|
Xuanyi Liao |
2,982,754 |
|
Rongzong Chen |
145,972 |
|
Qingrong Lin |
13,522,802 |
|
Xinai Zheng |
20,022,289 |
Core Management
Directors
|
1 |
||
|
Name |
Longxing Liao |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Xinyi Zheng |
|
|
Position |
Independent Director |
|
|
3 |
||
|
Name |
Shuhong Lin |
|
|
Position |
Independent Director |
|
|
4 |
||
|
Name |
Xiandong Lin |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Zheng Zheng |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Qiongyu Liao |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Shiguang Su |
|
|
Position |
Director |
|
|
8 |
||
|
Name |
Xuanyi Liao |
|
|
Position |
Director |
|
|
9 |
||
|
Name |
Rongzong Chen |
|
|
Position |
Director |
|
|
10 |
||
|
Name |
Qingrong Lin |
|
|
Position |
Supervisor |
|
|
11 |
||
|
Name |
Xinai Zheng |
|
|
Position |
Supervisor |
|
Personnel Structure
|
Total Employees |
About 2,000 Employees (Company) About 5,000 Employees (Group) |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
Subject is engaged in manufacturing of chemicals.
Subject has factories in Taiwan for production.
We obtained some related information of subject’s plants as following
for references:
|
Factory Name |
Area (Square Meters) |
Staff No. |
|
Hsin-Chu Factory |
130,000 |
About 600 Employees |
|
Kaohsiung Factory |
40,000 |
About 200 Employees |
|
Dafa Factory |
130,000 |
-- |
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and sale of synthetic resin |
|
-- |
Manufacturing and sale of chemical raw materials |
|
-- |
Manufacturing of green sheet |
|
-- |
Manufacturing and sale of insulation paper, melamine and cyanoacrylate
adhesives |
|
-- |
General import and export business (besides licensed business) |
|
-- |
Manufacturing and sale of phthalic |
|
-- |
Manufacturing and sale of light resistance |
|
-- |
As an agent assists in developing quoting, bidding and distributing about
your above mentioned products |
|
C801050 |
Manufacturing of plastic materials |
|
C801020 |
Manufacturing of petrochemical materials |
|
C801040 |
Manufacturing of synthetic resin |
|
CB01030 |
Manufacturing of pollution-prevention equipment |
|
CC01010 |
Manufacturing of power equipment, transmission equipment and
distribution equipment |
|
CC01020 |
Manufacturing of electric wire and cable |
|
CC01050 |
Manufacturing of data storage and processing equipment |
|
CC01080 |
Manufacturing of electronic component |
|
E599010 |
Piping industry |
|
I601010 |
Leasing industry |
|
A101020 |
Crop cultivation |
|
C201010 |
Manufacturing of feed |
|
C401010 |
Manufacturing of leather |
|
C601010 |
Manufacturing of pulp |
|
C601020 |
Manufacturing of paper |
|
C601030 |
Manufacturing of paper box |
|
C801060 |
Manufacturing of synthetic rubber |
|
C801070 |
Manufacturing of high pressure gas |
|
C802010 |
Manufacturing of fertilizer |
|
C802020 |
Manufacturing of man-made fiber |
|
C802030 |
Manufacturing of coating and paint |
|
C802090 |
Manufacturing of cleaning supplies |
|
C901020 |
Manufacturing of glass and glassware |
|
CA01110 |
Copper industry |
|
CA03010 |
Heat treatment |
|
CA04010 |
Surface treatment |
|
CB01010 |
Manufacturing of mechanical equipment |
|
CC01060 |
Manufacturing of wire communication equipment |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject purchases its raw materials and etc both at home and abroad.
It is introduced that subject can purchase depending on customers’
requires.
Subject is engaged in sale of chemicals.
The major products include ACETONE, ACRYLAMIDE, ACRYLIC RESIN, AMINO
RESIN FOR COATING, BIS-PHENOL A, BROMINATED EPOXY, COPPER-FOIL, DRY FILM PHOTO
RESIST, DRY PAPER STRENGTH RESIN, E-GLASS FIBER CHOPPED STRAND, OVER-LAY RESIN,
PAPER-PHENOLIC COPPER CLAD LAMINATE, PARAFORMALDEHYDE, PHENOL, PHENOL FORMALDEHYDE
RESIN, PHENOLIC RESIN MOLDING COMPOUND, PHOSPHITES ANTIOXIDANTS, PLASTICIZER,
POLYBUTYLENE TEREPHTHALATE RESIN (COMPOUNDING), POLYBUTYLENE TEREPHTHALATE
RESIN (NEAT RESIN), PVC STABILIZER, RECYCLED FOIL, TETRAHYDRO FURAN, TEXTILE
RESIN, THERMO PLASTIC POLYESTER ELASTOMER, TRIPHENYL PHOSPHATE FLAME RETARDANT,
UREA RESIN ADHESIVE. WET PAPER STRENGTH RESIN, α-CYANOACRYLATE ADHESIVE
Subject’s sales regions include Asia, Europe, America.
Subject’s major customers are textile industry, chemical industry, electronic
industry.
Subject’s products are applied to the industries of textile, coating,
semiconductor, electronic, paper, plastic and so on.
It is introduced that subject has many customers such as Valspar
Industrial, Ennis Paint, Inc and Kemrock Industries & Exports Limited.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
Cash, T/T |
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Chemicals |
|
Selling Terms |
Cash, T/T |
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 declined to disclose
its financials citing the grounds of company’s confidentiality; from other
sources we could not obtain such information, either.
|
Name |
Bank of America, N.A. Taipei Branch |
|
Address |
43F, No 7, Sec.5 Xinyi Rd, Taipei, Taiwan |
|
Account No |
20768054 |
|
Swift Code |
BOFATW2X |
Note: Subject’s relevant staff didn’t confirm
the supplied bank information, we supplied the banking information from our
database for references.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
036278 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
331264 |
|
Date of Registration: |
1990-9-22 |
|
Date of Alteration: |
1990-9-22 |
|
Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
042820 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
099742 |
|
Date of Registration: |
1993-7-9 |
|
Status: |
Paid off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
048186 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
244930 |
|
Date of Registration: |
1995-6-20 |
|
Status: |
Paid off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
050868 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
468435 |
|
Date of Registration: |
1996-5-9 |
|
Status: |
Paid off |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
051248 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
469777 |
|
Date of Registration: |
1996-6-24 |
|
Status: |
Paid off |
|
6 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
057769 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
823991 |
|
Date of Registration: |
1998-4-27 |
|
Status: |
Paid off |
|
7 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
061545 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
853882 |
|
Date of Registration: |
1999-4-13 |
|
Status: |
Paid off |
|
8 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
082142 |
|
Debtor Name: |
Chang Chun Plastics Co., Ltd. |
|
Document Number: |
09304998770 |
|
Date of Registration: |
2004-12-29 |
|
Status: |
Paid off |
Interview Details
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.