MIRA INFORM REPORT
|
Report Date : |
06.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
REWARD WOOL INDUSTRY CORPORATION |
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Registered Office : |
12th Fl., No.310, Sec.4, Chung Hsiao E. Rd., Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
23.07.1964 |
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Com. Reg. No.: |
11311608 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Sales of Wool Tops, Superwash Tops,
Carbonized Wool, and Wool Grease |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 80,000 |
|
Status : |
Satisfactory |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Taiwan |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Contact Points
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Company Name: |
|
|
Supplied Name: |
Reward Wool Industry Corporation |
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Trading Address: |
12th Floor, Kuangfu Building 310, Sec 4, Chung Hsiao Fast Road, Taipei
106, Taiwan |
|
Supplied Address: |
12th Floor, Kuangfu Building 310, Sec 4,
Chung Hsiao Fast Road, Taipei 106, Taiwan |
|
Telephone Number: |
+886-2-27811161 |
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Fax Number: |
+886-2-27114312 |
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E-mail: |
Credit Summary
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Credit Rating: |
|
|
Credit Opinion: |
Company Identification Details
|
Registered Name: |
Reward Wool Industry Corporation |
|
Registered Address: |
12th Fl., No.310, Sec.4, Chung Hsiao E. Rd., Taipei, Taiwan |
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Date of Foundation: |
|
|
Registration Number: |
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|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
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Registered Capital: |
NTD 1,793,000,000
(USD 62,575,700) (As of 2011.05, 1 NTD = 0.0349 USD) |
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Paid-up Capital: |
NTD 1,793,000,000 (USD 62,575,700) |
|
Legal Representatives: |
Rouer Ying |
|
Legal Form: |
|
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Principal Activities: |
Sales of Wool Tops,
Superwash Tops, Carbonized Wool, and Wool Grease |
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Staff: |
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Listed at Stock
Exchange: |
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Date of Last
Annual Return: |
History
|
Year |
Events |
|
1988 |
Production
capacity of wool top and carbonized wool was greatly expanded. |
|
1992 |
Jointly invested
in Reward (Ningbo) Wool Industry Co., Ltd. to develop mainland China market |
|
1995 |
Equipped Kroy/CMT processing system for making value-added superwash
and lustre soft tops. |
Subject was incorporated on
Awards
|
Year |
Awards |
|
2007 |
Blue chip
importer and exporter |
|
2008 |
Blue chip
importer and exporter |
|
2009 |
Blue chip
importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2007 |
18,000,000 |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
Shareholders
|
Subscription Shares |
|
|
Zhong Cheng Investment Co. |
25,971,338 |
| Xinhe
xingyang Co. |
3,104,203 |
|
Yong Fu Investment Co. |
416,039 |
|
Li Tai Investment Co. |
9,482,794 |
Notes: The information above is that of subject’s
major shareholders.
Subsidiaries
& Branches
Subject did not register any subsidiaries or branches, from other source we
can not obtain the relevant information, either.
Personnel Information
Core
Management
|
1 |
|
|
Name |
Rouer Ying |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Chaoming Chen |
|
Position |
|
|
3 |
|
|
Name |
Minghao Ying |
|
Position |
Director |
|
4 |
|
|
Name |
Meilan Yu |
|
Position |
Director |
|
5 |
|
|
Name |
Xiwan Xu |
|
Position |
Director |
|
6 |
|
|
Name |
Lianghong Wu |
|
Position |
Director |
|
7 |
|
|
Name |
Guanzhi Wang |
|
Position |
Director |
|
8 |
|
|
Name |
Musheng Cao |
|
Position |
|
|
9 |
|
|
Name |
Xiangyi Cao |
|
Position |
Auditor |
Personnel
Structure
|
Total Employees |
About 120 Employees |
Operation Information
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject has two factories in Liu-Tu and Hsin-Wu,
Taiwan.
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Site Area: |
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|
Liu-Tu |
|
|
Hsin-Wu |
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Capacity:
|
700MT/Month |
|
|
Superwash Tops |
200MT/Month |
|
Wool Grease |
77MT/Month |
Main Equipments:
|
Solvent scouring
machine |
1set |
|
Wool Grease
refining system |
|
|
Carding machine |
12sets |
|
Gilling machine |
12sets |
|
Combing
machine |
64sets |
|
Can Gill Box |
5sets |
|
Finishing Gill
Box |
7sets |
|
KROY/CMT
Superwash Top Processing system |
1set |
|
Packaging
machine |
1set |
l
The main products are including Wool
Tops, Superwash Tops, Carbonized Wool, and Wool Grease.
Purchase
Information
l
The registered
activities of subject:
|
Business Code |
Details |
|
1 |
Manufacturing and sales of wool top(including
carbonized wool) |
|
2 |
Processing of other wool’s shrinkproof and dyeing
and finishing |
|
3 |
Import and export related mentioned business |
|
4 |
Warehouse of related raw materials |
l
The raw material for production is mostly purchased
from abroad.
l
The subject is mainly engaged in sales of Wool
Tops, Superwash Tops, Carbonized Wool, and Wool Grease.
l
The subject sells products all over the world.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Settlements
Purchase
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
|
Foreign Purchase
Sales
Domestic Markets (Taiwan)
|
Sales Terms |
Proportion |
|
|
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Wool Tops, Superwash Tops, Carbonized Wool, and
Wool Grease |
CBD, etc |
100% |
Financial Information
|
Year |
Sales |
|
2011.01~03 |
NTD 202,411,000 |
Notes: We obtained the information from public files.
Bankers
|
Name |
Taiwan Bank |
Public Record
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. Ying |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.57 |
|
UK Pound |
1 |
Rs.73.58 |
|
Euro |
1 |
Rs.66.23 |
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 |
|
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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.