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Report No. : |
338515 |
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Report Date : |
03.09.2015 |
IDENTIFICATION DETAILS
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Name : |
FORTH INDUSTRIAL INC. |
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Registered Office : |
6FL., No.164, Nanking East Road, Sec.4, Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
09.10.1974 |
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Com. Reg. No.: |
04713260 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of Chemical Materials. |
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No. of Employees : |
Not Available |
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: |
No.232, Sec. 2,
Fuguo Rd., Luzhu Township, Taoyuan County 338, Taiwan |
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Supplied Address: |
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Telephone Number: |
+886-3 323-4611 |
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Fax Number: |
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E-mail: |
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 1974-10-9 with registered number 04713260
as Joint Stock Company in Taiwan.
Major Related
Company
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Name |
International Holy Inc |
Branches
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Taichung Branch Address: No. 6~9, Xia Yuan Road, Da li Shi, Taichung City, Taiwan Tel：+886-4-24061310 Fax：+886-4-24061102 Kaohsiung Branch Address: No. 66, Mei Shan Road, Wu Song Xiang, Kaohsiung City, Taiwan Tel：+886- 7-7315468 Fax：+886- 7-7317004 |
Major Shareholders
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Name |
Subscription Shares |
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Qiuju Chen |
2,449 |
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Yuanci Wu |
2,402 |
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Chunhui Xu |
898 |
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Peirong Wu |
5,177 |
Core Management
Directors
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1 |
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Name |
Qiuju Chen |
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Position |
Board Chairman |
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2 |
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Name |
Yuanci Wu |
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Position |
Director |
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3 |
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Name |
Chunhui Xu |
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Position |
Director |
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4 |
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Name |
Peirong Wu |
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Position |
Supervisor |
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Offices & Factories
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Headquarters |
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Add |
No.232, Sec. 2, Fuguo Rd., Luzhu Township, Taoyuan County 338, Taiwan |
Production Information
Subject is a trader of chemical materials
and etc without any production activities
Purchase Information
The registered activities of subject:
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Business Code |
Details |
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C803990 |
Manufacturing of other petroleum products and coal products. |
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C901990 |
Manufacturing of other non-metal mineral products. |
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A102060 |
Grain dealer. |
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A102080 |
Gardening services. |
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F101130 |
Wholesales of fruits and vegetables. |
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F102170 |
Wholesales of food and miscellaneous goods. |
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F102180 |
Wholesales of alcohol. |
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F103010 |
Wholesales of feedings. |
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F106060 |
Wholesales of pet foods and products. |
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F107050 |
Wholesales of fertilizer. |
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F107170 |
Wholesales of industrial additives. |
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F107200 |
Wholesales of chemical materials. |
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F107990 |
Wholesales of other chemical products. |
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F112040 |
Wholesales of petroleum product. |
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F113030 |
Wholesales of precise instrument. |
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F121010 |
Wholesales of food additives。 |
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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. |
Subject purchases its products from in Taiwan, the mainland of China,
Japan, South Korea, USA, Thailand, South Africa, Malaysia and etc.
It is introduced that subject costs above USD 5,000,000 for importing
from the mainland of China per year.
Subject is engaged in sale of chemical materials.
The major products include materials for cast iron/steel/stainless
steel, materials for powder metallurgy, materials for ceramic, refractory
industries, granites & materials for stone processing, oil type EP
additives, additives for water soluble working oil, water soluble cutting oils
/rust preventive oil & additives, pet items, agriculture items.
Subject’s sales regions include Asia, Europe, America and etc.
Subject’s major customers are steel industry, machine building industry,
stone processing industry.
It is introduced that subject’s products are applied to foundry; invest
casting; blasting; aluminium/zinc/copper/magnesium casting; steel beams/plates;
cars/motorcycle/bicycle, hand tools; shipping containers manufacturing and etc.
It is introduced that subject has cooperated with many suppliers such as
IKK, ERVIN, NLM, PENNLUBE, AMASTEEL.
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 |
Chemical materials |
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Payment Terms |
Cash, T/T |
Import
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Products |
Chemical materials |
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Payment Terms |
L/C, T/T |
Sales
Domestic Markets
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Product |
Chemical materials |
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Selling Terms |
Cash, T/T |
Export
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Product |
Chemical materials |
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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 Mr. Wu declined to
disclose its financials citing the grounds of company’s confidentiality; from
other sources we could not obtain such information, either.
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1 |
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Name |
First Commercial Bank |
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2 |
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Name |
Chang Hwa Bank |
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
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Name |
Mr. Wu |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.16 |
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|
1 |
Rs.101.22 |
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Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
TPT |
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.