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Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
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Name : |
MY SPARK CO., LTD. |
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Formerly Known As : |
Join Vantage International Co., Ltd. |
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Registered Office : |
No.2, Wenchang 3rd St., Beitun Dist., Taichung City 40651 |
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Country : |
Taiwan |
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Date of Incorporation : |
17.04.2008 |
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Com. Reg. No.: |
28966587 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of furniture and furniture accessories, etc |
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No. of Employees : |
About 10 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
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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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Former Name: |
Join Vantage
International Co., Ltd. |
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Supplied Name: |
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Trading Address: |
No.2, Wenchang 3rd St., Beitun Dist.,
Taichung City 40651, Taiwan (R.O.C.) |
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Supplied Address: |
Joinvantage International #2 Wenchang 3rd St
Taichung City Taiwan 406 |
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Telephone Number: |
+886-4-2237-2882 |
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Fax Number: |
+886-4-2237-2881 |
Notes: The exact name and address are as above.
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Registered Name: |
My Spark Co., Ltd. |
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Registered Address: |
No.2, Wenchang 3rd St., Beitun Dist., Taichung City 40651, Taiwan
(R.O.C.) |
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Date of Foundation: |
2008-4-17 |
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Registration Number: |
28966587 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2012.12, 1 NTD = 0.0340 USD) |
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Legal Representatives: |
Jiaxiang Xu |
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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: |
Subject was incorporated on 2008-4-17 with registered number 28966587 as Private Limited Liability Company in Taiwan.
Change of Name
|
Former English
Name |
Join Vantage
International Co., Ltd. |
|
Current English
Name |
My Spark Co., Ltd. |
|
Name |
Subscription Amount |
|
Jiaxiang Xu |
400,000 |
The information above is that of subject’s major shareholders.
Core
Management
|
Name |
Jiaxiang Xu |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 10 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.2, Wenchang 3rd St., Beitun Dist., Taichung City 40651, Taiwan
(R.O.C.) |
Production
Information
l
Subject is a trader of furniture and furniture accessories, etc without any production
activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
|
F104110 |
Wholesale of textiles, garments, shoes, hats, umbrellas,
and accessories |
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F105050 |
Wholesale of furniture, bedding, kitchen utensil,
and decoration |
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F106020 |
Wholesale of daily supplies |
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F106050 |
Wholesale of ceramic glassware |
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F108040 |
Wholesale of cosmetic |
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F109070 |
Wholesale of stationery, instrument, and sport
equipment |
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F110010 |
Wholesale of horologe |
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F111090 |
Wholesale of building materials |
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F115010 |
Wholesale of jewelry and precious metal |
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F204110 |
Retail of textiles, garments, shoes, hats, umbrellas,
and accessories |
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F205040 |
Retail of furniture, bedding, kitchen utensil,
and decoration |
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F208040 |
Retail of cosmetic |
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F209060 |
Retail of stationery, instrument, and sport
equipment |
|
F211010 |
Retail of building materials |
|
F215010 |
Retail of jewelry and precious metal |
|
F401010 |
International trade business |
l
Subject purchases products major in domestic
market, etc
l Subject is engaged
in sales of furniture and furniture accessories, etc.
l
Subject’s sales regions include Europe and Middle
East, etc.
l
It is introduced that subject has a store in
Taichung, Taiwan.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase (Taiwan
and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Furniture and
furniture accessories |
COD, CBD, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Furniture and
furniture accessories |
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. Chen 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 cannot 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. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
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 |
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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 |
|
---- |
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.