MIRA INFORM REPORT

 

 

Report Date :

10.08.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

FULL HONG CO., LTD.

 

 

Registered Office :

No.21, Lane 585, Chung Shan Road Tou Liu City, Yun lin Hsien

 

 

Country :

Taiwan

 

 

Date of Incorporation :

16.02.1993

 

 

Com. Reg. No.:

84183307

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Trading of second-hand textile machines, etc

 

 

No. of Employees :

Less than 5 employees

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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

Restricted

 

C2

Off-credit

 

D

 

 

Contact Points

 

Company Name:

 

Supplied Name:

Intended Volume Corporation

Trading Address:

10th FL No. 593, Sec 1, Ta-Shuea Road, Tow-Leu City, Yun-Lin hsien Taiwan

Supplied Address:

10th FL No. 593, Sec 1, Ta-Shuea Road, Tow-Leu City, Yun-Lin hsien Taiwan

Telephone Number:

+886-5-5346651

Fax Number:

+886-5-5346653 / 5348146

E-mail:

fh37@ms23.hinet.net

 

Notes: Subject’s registered name and current address are as above and it is introduced that the supplied name also belongs to subject.

 

 

Credit Summary

 

Credit Opinion:

Business connections are permissible.

 

 

Company Identification Details

 

Registered Name:

Full Hong Co., Ltd.

Registered Address:

No.21, Lane 585, Chung Shan Road Tou Liu City, Yun lin Hsien Taiwan R.O.C.

Date of Foundation:

1993-2-16

Registration Number:

84183307

Registry:

MOEA Central Office

Registered Capital:

NTD 5,000,000 (USD 167,000)

(As of 2012.08, 1 NTD = 0.0334 USD)

Legal Representatives:

Hongying Wu

Legal Form:

Private Limited Company

Principal Activities:

Trading of second-hand textile machines, etc

Staff:

Less than 5 employees

Listed at Stock Exchange:

No

Date of Last Annual Return:

2006-2-13

 

 

History

 

Subject was incorporated on 1993-2-16 with registered number 84183307 as Private Limited Company in Taiwan.

 

 

Shareholders

(Unit: NTD)

Name

Subscription Amount

Hongying Wu

5,000,000         

 

 

 

Subsidiaries & Branches

 

Subject did not introduce whether it has any subsidiaries or branches, from other source we can not obtain the relevant information, either.

 

 

Personnel Information

 

Core Management

Director

Name

Hongtying Wu

Position

Director

 

Personnel Structure

Total Employees

Less than 5 employees

 

Operation Information

 

Offices & Factories

 

Headquarters

Add

10th FL No. 593, Sec 1, Ta-Shuea Road, Tow-Leu City, Yun-Lin hsien Taiwan

 

Production Information

l         Subject is a trader of second-hand textile machines without any production activities itself.

 

Purchase Information

l         The registered activities of subject:

1

Manufacture, processing and sales of all kinds of machines and components

2

Sales of textiles and fiber, etc

3

Import and export trading business of the above mentioned items

4

Bidding service, price quoting and sales business for domestic and overseas customers

 

l         Subject purchases second-hand textile machines mainly from Europe.

 

Sales Information

l         The subject is mainly engaged in sales of second-hand textile machines

l         It is introduced that subject has technicist in Europe for machines testing and encasement

l         Subject carried the brands including SOMET, DORNIER, SULZER, PICANOL, VAMATEX, NUOVO PIGNONE and TSUDAKOMA

l         Subject’s products are both sold in domestic and overseas market.

 

Import and export right:

Import right

Yes

Export right

Yes

 

Settlements

 

Purchase

Domestic Purchase

Subject has little domestic purchase

Foreign Purchase

Product

Payment Terms

Proportion

Second-hand textile machines

CBD, etc

100%

 

Sales

Domestic Markets

Product

Sales Terms

Proportion

Second-hand textile machines

CBD, etc

100%

Export

Product

Sales Terms

Proportion

Second-hand textile machines

CBD, 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 declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

 

 

Bankers

 

Subject declined to disclose its bank details; from other source we can not obtain the relevant information, either.

 

 

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

 

Department

Mr. Wu

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.17

UK Pound

1

Rs.86.43

Euro

1

Rs.68.27

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.