MIRA INFORM REPORT
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Report Date : |
24.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
TOUNG LOONG TEXTILE MFG. CO., LTD. |
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Registered Office : |
19F, No.31, San Ming
Rd., Banqiao Dist., New Taipei City 220 |
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Country : |
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Date of Incorporation : |
14.08.1961 |
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Com. Reg. No.: |
18770509 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trading of textile products, etc. |
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No. of Employees
: |
More than 50 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 |
|
Maximum Credit Limit : |
USD 50,000 |
|
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 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
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Company Name: |
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Supplied Name: |
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Trading Address: |
19F, No.31, San Ming Rd., Banqiao Dist., New
Taipei City 220, Taiwan (R.O.C.) |
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Supplied Address: |
19F 1 Number 31 San Ming Rd., Sec. 2 Pan
Chiao District New Taipei City Taiwan |
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Telephone Number: |
+886-2-29612112 |
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Fax Number: |
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E-mail: |
Notes:
The exact subject’s address is as above mentioned.
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Credit Rating: |
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Credit Opinion: |
Subject was incorporated on 1961-8-14 with registered number 18770509 as Joint Stock Company in Taiwan.
Awards
|
Year |
Awards |
|
2008 |
Blue chip
importer and exporter |
|
2009 |
Blue chip
importer and exporter |
|
2010 |
Blue chip
importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
Name |
Subscription
Shares |
|
Xiuxiong You |
4,501,901 |
|
Zhicheng You |
|
|
2,880,396 |
|
|
Rongjie You |
5,841,986 |
|
Rongli You |
5,697,230 |
|
Jiahong You |
2,223,207 |
|
Qiuyue Chen |
5,001,294 |
|
Zhiping Chen |
1,898,284 |
|
Guoqin Chen |
365,159 |
|
Chen Xu Meixia |
639,133 |
|
Rongchun You |
1,151,000 |
|
Zhuwang Cai |
1,151,000 |
|
Kaiping Zhang |
1,151,000 |
|
Jinzong You |
1,727,010 |
|
Gao Ping |
641,327 |
|
Jingwei Zhou |
4,770,556 |
The information above is that of subject’s major shareholders.
Core Management
|
Name |
Xiuxiong You |
|
Position |
Chairman |
|
2 |
|
|
Name |
Zhicheng You |
|
Position |
Director |
|
Date of
Appointment |
2010-6-17 |
|
3 |
|
|
Name |
Rongjie You |
|
Position |
Director |
|
4 |
|
|
Name |
Rongli You |
|
Position |
Director |
|
5 |
|
|
Name |
Jiahong You |
|
Position |
Director |
|
6 |
|
|
Name |
Qiuyue Chen |
|
Position |
Director |
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7 |
|
|
Name |
Zhiping Chen |
|
Position |
Director |
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8 |
|
|
Name |
Guoqin Chen |
|
Position |
Director |
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9 |
|
|
Name |
Chen Xu Meixia |
|
Position |
Director |
|
10 |
|
|
Name |
Rongchun You |
|
Position |
Director |
|
11 |
|
|
Name |
Zhuwang Cai |
|
Position |
Director |
|
12 |
|
|
Name |
Kaiping Zhang |
|
Position |
Director |
|
13 |
|
|
Name |
Jinzong You |
|
Position |
Supervisor |
|
14 |
|
|
Name |
Gao Ping |
|
Position |
Supervisor |
|
15 |
|
|
Name |
Jingwei Zhou |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
More than 50 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
19F, No.31, San Ming Rd., Banqiao Dist., New Taipei City 220, Taiwan
(R.O.C.) |
Production
Information
l
Subject produces textile products.
l
Subject has factories in Taiwan, Vietnam, and
Cambodia.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacturing, sales and wholesale business of
man-made fiber stitching and weaving yarn |
|
2 |
Manufacturing and distribution of a variety of
cotton, wool, ramie, rayon and other hybrid lines |
|
3 |
Distribution related to the line categories of
textile manufacturing |
|
4 |
Manufacturing and processing of a variety of
fiber line class, fiber textile weaving |
|
5 |
Timber (logs), import and export trading business |
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6 |
Import and export trade business |
Besides licensed business, all other business items those are not banned
or restricted.
l
The components and raw material for production are
purchased from both domestic and abroad.
l
The subject has a proportion
of 50% for Import
l
The subject is mainly engaged in manufacturing and
processing of various textile yarns.
l
Subject produces zipper stitching, Velcro yarn,
textile yarn, ribbon yarn, trademark yarn, etc.
l
Subject has both domestic and foreign markets.
l
Subject exports mainly to Southeast Asia, Vietnam,
East Asia, etc.
l
The subject has a
proportion of 50% for export.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components and raw material |
COD, CBD, etc. |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Components and raw material |
CBD, etc. |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Textile yarns |
CBD, etc. |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Textile yarns |
CBD, etc. |
100% |
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 source we can 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.
|
Name |
Ms. Hong |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.23 |
|
UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.68.84 |
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.