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Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
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Name : |
EDX EDUCATION CO., LTD. |
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Formerly Known As : |
EDUCATIONAL EXPERIENCE TAIWAN CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
20.12.1996 |
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Com. Reg. No.: |
97172008 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of educational products and
materials, etc |
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No. of Employees : |
Not
Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Taiwan - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. 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. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. 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 accounting for 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken 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. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.
Source : CIA
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Company Name: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
Notes: Subject declined to disclose its staff number and from other source we can not obtain the relevant information, either.
Subject was incorporated on
Change of Name
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Former English
Name |
EDUCATIONAL
EXPERIENCE TAIWAN CO., LTD. |
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Current English
Name |
EDX EDUCATION
CO., LTD. |
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Name |
Subscription Shares |
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Edxeducation Pty Limited (Australia) |
499,994 |
The information above is that of subject’s major shareholders.
Parent Company
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Name |
EDX Education
Pty Ltd |
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Address |
44/304 Wharf Rd
Newcastle, NSW 2300 Australia |
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Tel |
+61 02 4929 7729 |
Sales
representatives
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1 |
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Name |
North American
and UK Sales & Marketing Brian Arthurs |
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Mobile |
+1-416-464 5987 |
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Tel |
+1-905-841 5595 |
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Fax |
+1-905-841 5669 |
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E-mail |
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2 |
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Name |
European Sales
& Marketing Representative (Excluding UK)
Sue Dockrell |
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Mobile |
+44 7715 998 777 |
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Tel |
+44 7715 998 777 |
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Fax |
+44 1949 844 117 |
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E-mail |
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Core
Management
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1 |
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Name |
Menglin Jiang |
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Position |
Board Chairman
& Manager |
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Date of
Appointment |
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2 |
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Name |
Stephen F Derek
Thomas （Literal
Translation） |
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Position |
Director |
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3 |
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Name |
Anthony John S
Swake (Literal Translation) |
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Position |
Director |
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4 |
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Name |
Yuwen Dai |
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Position |
Supervisor |
Offices
& Factories
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Headquarters |
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Add |
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Production
Information
l
It is introduced that subject has its own moulds
and tools, and has more than 60 partner factories in Taiwan, China and India for
production of educational products and materials.
l
It is introduced that subject’s products are all
tested fir compliance with EN71, ASTM and CPSIA standards and regulations.
Purchase
Information
l
The registered activities of subject:
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1 |
General import and export trading business
(except licensed business) |
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2 |
Sales, import and export of educational products,
artifact, sports goods, toys, articles
of everyday
use, book and stationary, etc |
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3 |
Bidding service, price quoting service of the
above mentioned products for domestic and overseas market. |
l
Subject purchases mainly from its cooperative manufacturers
both at home and abroad.
Sales
Information
l
The subject is mainly engaged in sales of
educational products and materials
l
Subject’s products are both sold in domestic and
overseas market and it is introduced that subject exports to more than 50
countries in North America, Europe, Middle East, Asia, South America and
Australia
Major products and
service
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1 |
Maths Manipulatives, Earlychildhood Active Play,
and Art & Craft Accessories. |
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2 |
Private Branding For Customers |
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3 |
OEM projects for customer |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
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Payment Terms |
Proportion |
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Educational products and materials. |
CBD, Credit
Sales, etc |
100% |
Foreign Purchase
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Payment Terms |
Proportion |
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Educational products and materials. |
CBD, etc |
100% |
Sales
Domestic Markets
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Sales Terms |
Proportion |
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Educational
products and materials. |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
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Educational
products and materials. |
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 declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
Subject declined to disclose its bank details and 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.
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Department |
Sales department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.20 |
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UK Pound |
1 |
Rs.86.99 |
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Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.