MIRA INFORM REPORT
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Report Date : |
25.10.2011 |
IDENTIFICATION DETAILS
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Name : |
GEM FONT CORPORATION |
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Registered Office : |
3fl., No.116, Hsin Sen S.
Rd., Sec.1, Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
22.01.1973 |
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Com. Reg. No.: |
03341208 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of food additives, food ingredients, etc. |
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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Maximum Credit Limit : |
USD 40,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Taiwan |
a2 |
a2 |
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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 |
Contact
Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
Gemfont Bldg 116 Hsin Sheng South Rd Section
1, Taipei, Taiwan(R.O.C) |
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Supplied Address: |
Gemfont Bldg 116 Hsin Sheng South Rd Section
1 Chungcheng Dist taipei City , TW |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Notes:
The supplied name is incomplete, and the exact name is as above.
Credit Summary
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Credit Rating: |
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Credit Opinion: |
Company
Identification Details
The staff number
is not available from the subject or other sources.
History
Subject was incorporated on
Awards
|
Year |
Awards |
|
2008 |
Blue chip
importer and exporter |
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2009 |
Blue chip
importer and exporter |
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2010 |
Blue chip
importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2007 |
19,000,000 |
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2008 |
15,000,000 |
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2009 |
20,000,000 |
Shareholders
|
Name |
Subscription Amount |
|
Xiuqin Jiangxu |
1,500,000 |
|
Yizheng Qiu |
|
|
2,000 |
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Yuzhang Xu |
1,000 |
|
Jinzhi Zhen |
2,000 |
The information above is that of subject’s major shareholders.
Subsidiaries &
Branches
Subject disclosed that
there’re two offices in Xia Men and Shang Hai, Mainland, China. But subject
declined to disclose more information about them.
Personnel
Information
Core
Management
|
1 |
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Name |
Xiuqin Jiangxu |
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Position |
Board Chairman |
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2 |
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Name |
Yizheng Qiu |
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Position |
Director |
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3 |
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Name |
Yuzhang Xu |
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Position |
Director |
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4 |
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Name |
Jinzhi Zhen |
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Position |
Supervisor |
Operation
Information
Offices
& Factories
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|
Headquarters |
|
Add |
Gemfont Bldg 116 Hsin Sheng South Rd Section 1, Taipei, Taiwan(R.O.C) |
Production
Information
l
Subject is a manufacturer of food additives, food ingredients with
some production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F121010 |
Wholesale of food additive |
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F203010 |
Retail of food and beverage |
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F221010 |
Retail of food additive |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The raw materials for production are purchased from
both local and abroad.
l
Subject is mainly involved in supplying of food
ingredients and additives, and so on.
l
The main products of subject are
|
1 |
Food flavors |
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2 |
Savory flavors |
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3 |
Sweeteners |
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4 |
Gums |
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5 |
Food longevity |
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6 |
Emulsifiers |
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7 |
Spices |
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8 |
Natural extract |
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9 |
Coloring agents |
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10 |
Nutritional enriching agents |
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11 |
Fruit and vegetable products |
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12 |
Proteins |
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13 |
Starches |
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14 |
Acidulants |
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15 |
Enzymes |
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16 |
Phosphate |
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17 |
Antioxidants |
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18 |
Preservatives |
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19 |
Others |
l
Subject introduced that it has 2 offices in Xiamen
and Shanghai, Mainland of China.
l
Subject imports some products from all over the world.
l
Subject has 2 Brands, Alchemy and Sparlar.
l
Subject’s selling territory covers all over the
world, like Singapore, America and so on.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
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Raw Material |
CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
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Raw Material |
T.T, L/C, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
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Food Ingredients And Additives |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
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|
Food Ingredients And Additives |
T.T, L/C, etc |
100% |
Financial
Information
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 Ms. Lin declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
Bankers
The bankers’ information is not available from the subject or other
sources.
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. Liu |
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E-mail: |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.87 |
|
UK Pound |
1 |
Rs.79.73 |
|
Euro |
1 |
Rs.69.52 |
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 |
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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 |
|
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 |
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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 |
|
<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.