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Report No. : |
345733 |
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Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHUEN HUAH CHEMICAL CO., LTD. |
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Registered Office : |
No.151, TA TE 1st RD., Gangshan Dist., Kaohsiung City 820 (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
11.02.1987 |
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Com. Reg. No.: |
22391179 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sale of Chemicals. |
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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 |
|
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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, follow-on components of ECFA, including a signed agreement on trade in
services, negotiations 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 under
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 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 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 decent entry-level jobs.
|
Source
: CIA |
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Company Name: |
|
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Supplied Name: |
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Trading Address: |
No.365, Daren N.
Rd., Gangshan Township, Kaohsiung County 820, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-7-621-7177 |
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Fax Number: |
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E-mail: |
Notes: The exact address is as above.
Subject was incorporated on
1987-2-11 with registered number 22391179 as Joint Stock Company in Taiwan.
Factories
|
Address: |
No.151, Ta Te 1st Rd., Gangshan Dist.,
Kaohsiung City 820, Taiwan (R.O.C.) |
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Date of Foundation: |
1990-12-31 |
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Date of Registration: |
1990-12-31 |
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Factory Registration Number: |
99664628 |
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Factory Manager: |
Zhenhui Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-11-2 |
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Major Products: |
18 Manufacturing of chemical raw materials. 184 Synthetic resin, plastic and rubber. |
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+886-7-6217559 |
|
|
Fax |
+886-7-6225804 |
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2 |
|
|
Name: |
Benzhou Factory |
|
Address: |
No.1, Ben Gong 7th Road and No. 190 Benzhou Road, Gangshan Dist.,
Kaohsiung City, Taiwan (R.O.C.) |
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Date of Registration: |
2005-9-23 |
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Factory Registration Number: |
99704810 |
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Factory Manager: |
Zhenhui Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-12-22 |
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Major Products: |
184 Synthetic resin, plastic and rubber. 292 Other dedicated machinery and equipment |
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Tel |
+886-7-6235300 |
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Fax |
+886-7-6235304 |
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3 |
|
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Name: |
Machinery Factory |
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Address: |
No.176, Benzhou Rd., Gangshan Dist., Kaohsiung City, Taiwan (R.O.C.) |
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Date of Registration: |
2010-9-16 |
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Factory Registration Number: |
99721738 |
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Factory Manager: |
Zhenhui Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2013-5-1 |
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Major Products: |
292 Other dedicated machinery and equipment |
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Tel |
+886-7-6217187 |
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Fax |
+886-7-6217578 |
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4 |
|
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Name |
Vietnam Plant |
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Address |
So 29, Vsipii So 2, Kcn Viet Nam, Singapore Ii Klh-Cn-Dv-Dt Binh
Duong,Huyen Ben Cat, Tinh Binh Duong, Vietnam |
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Tel |
+84-650-3865252~53 |
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Fax |
+84-650-3865222 |
|
Name |
Jiashan Plant |
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Address |
No. 65, Chenggong Rd., Jiashan Economic Development Zone, Zhejing,
China, 314116 |
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Tel |
+86-573-84182500 |
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Fax |
+86-573-84182504 |
Related Companies
|
1 |
|
Chuen Huah Chemical Co., Ltd. |
|
2 |
|
Jang Huah Chemical Co., Ltd. |
|
3 |
|
Mailouler Enterprise Co., Ltd. |
|
4 |
|
Xinhua Trading Co., Ltd.(Dongguan, China) |
|
5 |
|
Better Resin Joint Stock Company(Vietnam) |
|
6 |
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Yu Tyan Engineering Co., Ltd.(Taiwan) |
|
7 |
|
Jiaxing Chuen Huah Fine Chemical Co.,
Ltd.(China) |
|
8 |
|
Jiaxing Chuen Huah Machinery Co., ,Ltd.
(China) |
|
9 |
|
Yueh Hsiang Best Co., Ltd(Vietnam) |
|
10 |
|
Tavan Gashta Int'l (TGI) (Iran) |
|
11 |
|
Line-Text International (USA) |
|
12 |
|
Furnax Comercial E Importadora Ltda (Brazil)
|
Major Shareholders
|
Name |
Subscription Shares |
|
Zhenhui Chen |
42,500 |
|
Laijin Lin |
42,500 |
|
Tongcheng Chen |
14,067 |
|
Qingtian Mao |
14,167 |
Core Management
Directors
|
1 |
|
|
Name |
Zhenhui Chen |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Laijin Lin |
|
Position |
Director |
|
3 |
|
|
Name |
Tongcheng Chen |
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Position |
Director |
|
4 |
|
|
Name |
Qingtian Mao |
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Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 80 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.365, Daren N.
Rd., Gangshan Township, Kaohsiung County 820, Taiwan (R.O.C.) |
Production
Information
Subject is engaged in manufacturing of chemicals, etc.
It is introduced that subject has three factories in Taiwan, one factory
in the mainland of China and one factory in Vietnam for production.
Subject has obtained ISO 9002, SGS and ISO 9001:2000 certifications.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacturing and sales of resin (Urea and white glues). |
|
2 |
Importing and exporting of above related products and their raw
materials. |
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3 |
Trading, importing and exporting of chemical industrial raw materials. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The raw materials for production are both purchased at home and abroad.
Subject is engaged in sale of chemicals,
etc.
The major products include paper chemicals, corrugated equipment,
corrugated chemicals, amino crosslinking resins, plywood adhesives, textile
auxiliaries, specific applic and so on.
Subject’s sales regions include domestic market and abroad.
Subject’s major customers are manufacturers of paper, furniture,
textile, automobile and etc.
Major Products
|
Product |
Sales Region |
|
Paper Chemicals |
1. Dry-strength resins 2. Wet-strength
resins 3. Modified
starch |
|
Corrugated Equipment |
Glue mixing system (Automatic glue kitchen, Semi-automatic glue
kitchen, Auto glue distribution system, Auto liquid addition unit) Coating system (Roll coater (Wax/Waterborne resin)) |
|
Corrugated Chemicals |
Starch additives Coating materials Lamination adhesive |
|
Amino Crosslinking Resins |
1. Methylated melamine resins 2. Co-etherified
melamine resins 3. Butylated melamine resins 4. Urea resins 5.
Benzoguanamine resin |
|
Plywood Adhesives |
Urea-formaldehyde resin |
|
Textile Auxiliaries |
Amino crosslinking resins |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
PURCHASE
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
Chemicals, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Chemicals, 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 |
Ms. Liu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
|
|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.74.50 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
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|
Report Prepared
by : |
ASH |
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 |
|
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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 |
|
|
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.