|
Report No. : |
347589 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRIPLEX CHEMICAL CORP. |
|
|
|
|
Registered Office : |
7F, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
15.10.1990 |
|
|
|
|
Com. Reg. No.: |
23827741 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of Chemical
Materials. |
|
|
|
|
No. of Employees : |
About 60 Employees |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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, 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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2306-2131 |
|
Fax Number: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1990-10-15 with registered number 23827741 as Joint Stock Company in Taiwan.
Factory
|
Address: |
No.85, Haishan Central St., Taoyuan County, Taiwan (R.O.C.) |
|
Date of Foundation: |
1990-12-18 |
|
Date of Registration: |
1995-1-20 |
|
Factory Registration Number: |
99621093 |
|
Factory Manager: |
Rongjin Zhuang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2015-3-23 |
|
Major Products: |
182 Petrochemical materials |
Major Shareholders
|
Name |
Subscription Shares |
|
Chang Chun Petrochemical Co., Ltd. |
15,000,000 |
|
Yee Fong Chemical & Industrial Co., Ltd. |
15,000,000 |
Shareholder Information:
|
1 |
|
|
Registered Name: |
|
|
Registered Address: |
7F No.301, Songkiang Rd., 7th Fl., Taipei.
Taiwan R.O.C. |
|
Date of Foundation: |
1964-7-10 |
|
Registration Number: |
11384806 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 7,151,862,870 (USD 243,163,337.58) (As of 2015.6, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 7,151,862,870 (USD 243,163,337.58) |
|
Legal Representatives: |
Longxing Liao |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2015-6-9 |
|
2 |
|
|
Registered Name: |
Yee Fong Chemical & Industrial Co., Ltd. |
|
Registered Address: |
7F, No.310, Chukwang Rd., Taipei Taiwan
R.O.C. |
|
Date of Foundation: |
1950-9-5 |
|
Registration Number: |
15395706 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 804,804,870 (USD 27,363,365.58) (As of 2015.6, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 804,804,870 (USD 27,363,365.58) |
|
Legal Representatives: |
Qingwen Chen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
Yes; Stock Symbol:1772 |
|
Date of Last Annual Return: |
2012-12-26 |
Core Management
Directors
|
1 |
||
|
Name |
Xinyi Zheng |
|
|
Position |
Chairman of the Board |
|
|
2 |
||
|
Name |
Fuchun Cai |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Qinwen Chen |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Rongjin Zhuang |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Zheng Zheng |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Xiandong Lin |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Longxing Liao |
|
|
Position |
Supervisor |
|
|
8 |
||
|
Name |
Qinsheng Chen |
|
|
Position |
Supervisor |
|
Personnel
Structure
|
Total Employees |
About 60 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
Subject is engaged in manufacturing of engaged in manufacturing of
chemical materials, etc.
Subject has a factory in Taiwan for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing, processing and sales of epoxy chloropropane and its
products. |
|
-- |
Importing and exporting trading business of chemical products. |
The raw materials for production are mostly purchased in domestic
market.
It is introduced that subject import some technologies from the company
named “SHOWA DENKO K.K” in Japan.
The subject is mainly engaged in sale of
chemical materials, etc.
Subject’s major products are epoxy chloropropane, etc.
The major sales regions of the subject are domestic market, India,
Thailand, Korea, other Asian Countries, etc.
It is introduced that subject’s products are applied to the ethoxyline
resin, glycerin, chemical solvent and etc.
It is introduced that subject’s minimal quantity
order to export is one container.
The major customers of the subject are manufacturer of chemical
products.
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 |
Chemical materials, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Chemical materials, 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
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
050038 |
|
Debtor Name: |
Triplex Chemical Corp. |
|
Document Number: |
465542 |
|
Date of Registration: |
1996-1-20 |
|
Status: |
Paid off |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
|
Name |
Ms. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
UK Pound |
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TRU |
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.