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Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
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Name : |
FINE HOME GALLERY INC. |
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Registered Office : |
No.158, Sec. 1, Jiuzong Rd., Neihu Dist.,
Taipei City 11494 |
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Country : |
Taiwan |
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Date of Incorporation : |
22.08.2012 |
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Reg. No.: |
53925473 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and retails of furniture |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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: |
No.158, Sec. 1, Jiuzong
Rd., Neihu Dist., Taipei City 11494, Taiwan (R.O.C.) |
|
Supplied Address: |
No. 158, Sec 1,
Jiouzong Rd Neihu Dist. Taipei City Taiwan 11494 Taiwan |
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Telephone Number: |
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Fax Number: |
Notes: Subject’s exact name and address are as
above.
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Registered Name: |
FINE HOME GALLERY INC. |
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Registered Address: |
No.158, Sec. 1, Jiuzong Rd., Neihu Dist.,
Taipei City 11494, Taiwan (R.O.C.) |
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Date of Foundation: |
|
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Registration Number: |
53925473 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2012.12, 1 NTD = 0.0339 USD) |
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Legal Representatives: |
Daojie Wu |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Notes: Subject did not
introduce the staff number and from other source we can not obtain the relevant
information.
Subject was incorporated
on
|
Name |
Subscription Amount |
|
Daojie Wu |
500,000 |
The information above is that of subject’s major shareholders.
Shops
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1 |
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Name |
Fine Home Gallery Flagship Store (Showground) |
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Address |
No.158, Sec. 1, Jiuzong Rd., Neihu Dist., Taipei City 11494, Taiwan
(R.O.C.) |
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Tel |
+886-2-2791-3089 |
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Fax |
+886-2-2791-2159 |
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2 |
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Name |
Neihu Shop |
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Address |
No. 15, Lane 128. Xinhu No.1 Road, Neihu Road, Taipei City, Taiwan |
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Tel |
+886-2-87922799 |
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3 |
|
|
Name |
Xinzhuang Shop |
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Address |
1/F., No. 506. Chungshan No.1 Road, Xinzhuang District, New Taipei
City, Taiwan |
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Tel |
+886-2-85216658 |
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4 |
|
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Name |
Taichung Shop |
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Address |
1/F., No. 998, Section 1, Huanzhong Road, Beitun District, Taichung
City, Taiwan |
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Tel |
+886-4-24211578 |
Core Management
Director
|
Name |
Daojie Wu |
|
Position |
Director |
Offices & Factories
|
|
Headquarters |
|
Add |
No.158, Sec. 1, Jiuzong Rd., Neihu Dist., Taipei City 11494, Taiwan
(R.O.C.) |
Production Information
Subject is a trader of furniture without production activities itself.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F104110 |
Wholesales of fabric, garment, footwear, hats, umbrellas and
accessories |
|
F105050 |
Wholesales of furniture, bedding products, kitchenware and Installed
products |
|
F106050 |
Wholesales of Glassware and pottery |
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F113020 |
Wholesales of electronic appliance |
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F204110 |
Retails of fabric, garment, footwear, hats, umbrellas and accessories |
|
F205040 |
Retails of furniture, bedding products, kitchenware and Installed
products |
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F206020 |
|
|
F213010 |
Retails of electrical equipment |
|
F401010 |
International Trading Business |
|
I501010 |
Product design industry |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject purchases mainly abroad from USA,
U.K., etc
Subject is the agent of the furniture brands
Lexington (USA), Bassett (USA), TA (Theodore Alexander) (U.K.) and etc
The subject is mainly engaged in distribution
of furniture
Subject cooperates with its suppliers to
supply customized service
Subject’s products are mainly sold in Taiwan
and subject has a Showground and 3 shops in
Taiwan for local distribution.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
Subject has little domestic purchase
Foreign
Purchase
|
Payment Terms |
Proportion |
|
|
Furniture |
CBD, etc |
100% |
Sales
Domestic
Markets (Taiwan)
|
Sales Terms |
Proportion |
|
|
Furniture |
COD, CBD, etc |
100% |
Export
Subject has little export
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;
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.
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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 |
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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 |
-- |
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.