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Report Date : |
13.12.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
TAIWAN GREST WOOD INDUSTRIAL CO., LTD. |
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Registered Office : |
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Country : |
Taiwan |
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Date of Incorporation : |
22.10.1987 |
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Com. Reg. No.: |
22672234 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of building 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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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: |
14-F-2, No. 37, Sec-2, Sanmin Road, Banciao
District, New Taipei City 22069 |
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Telephone Number: |
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Fax Number: |
+886-2-2958-0071 |
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E-mail: |
Notes: Subject’s
exact name and address are as above and the supplied name also belongs to
subject.
|
Credit Opinion: |
Notes: Subject did not introduce its staff number and from other source we can not obtain the relevant information, either.
Subject was incorporated on
|
Name |
Subscription
Shares |
|
Guangtian Liao |
3,300 |
|
Renhui Mai |
|
|
360 |
|
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Bihui Liao |
800 |
|
Jiayun Liao |
360 |
The information above is that of subject’s major shareholders.
Factory
|
Address |
No. 33-1, Lane 65,
Sec. 1, Ganyuan St., Shulin Dist., New Taipei City, 23854, Taiwan |
|
Tel |
+886-2-2680 3040 |
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Fax: |
+886-2-2680 2424 |
Core
Management
|
1 |
|
|
Name |
Guangtian Liao |
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Position |
Board Chairman |
|
2 |
|
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Name |
Renhui Mai |
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Position |
Director |
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3 |
|
|
Name |
Bihui Liao |
|
Position |
Director |
|
4 |
|
|
Name |
Jiayun Liao |
|
Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Add |
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Production
Information
l
Subject is engaged in manufacture of building
materials and subject has a factory in Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Sales of building materials including glass wool,
plaster tablet, Mineral fiber board and other hardware |
|
-- |
Indoor Decoration Business |
|
-- |
Design and construction of Noise attenuation
project |
|
F401010 |
International Trading Business |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
Subject purchases both at home and abroad.
l
Subject has its own factory and it is introduced
that subject also imports building materials according to customers’ demands.
l The subject is
mainly engaged in sales of building materials including PVC facing, Vinyl
laminated gypsum tiles, Mineral fiber ceiling tile, Exposed T-bar ceiling
suspension system, Furring ceiling system, Dry wall partition
system, Metal ceiling tiles and relative accessories, such like Access
panel, Fiberglass mesh tape, Corner tape & joint compound, etc.
l
Subject also supplies outstanding technology and
performance support service
l
Subject’s products are both sold in domestic and
overseas market and it exports to Mid. East, South-East Asia, United States,
Latin, South America, North Africa and Europe, etc
Major Products
|
1 |
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2 |
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3 |
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4 |
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5 |
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6 |
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7 |
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8 |
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9 |
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10 |
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11 |
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12 |
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13 |
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14 |
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|
15 |
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|
16 |
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
etc |
COD, Credit
Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Building
materials, etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Building
materials, etc |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Building
materials, etc |
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 Ms. Xu 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; 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. Xu |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
UK Pound |
1 |
Rs.87.43 |
|
Euro |
1 |
Rs.70.55 |
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 |
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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 |
|
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.