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Report Date : |
29.12.2012 |
IDENTIFICATION DETAILS
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Name : |
HIGH POINT LTD. |
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Registered Office : |
1fl., No.389, Fu Chin St., Taipei |
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Country : |
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Date of Incorporation : |
16.02.1981 |
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Com. Reg. No.: |
20878864 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
General trade |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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: |
Notes:
The exact name and address are as above.
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Credit Opinion: |
We
tried to contact subject through the supplied telephone number (+886 2 87871 909), and a staff answered
the phone, and confirmed the name and address of subject. But when we tried to
obtain more information of subject, she said she couldn’t disclose the
information.
From other
sources, we couldn’t obtain any information about subject include operation
information, but from the local registry, it said that subject is mainly
engaged in general trade.
We found subject’s
registration information as follows for reference.
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Registered Name: |
HIGH POINT LTD. |
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Registered Address: |
1fl., No.389, Fu Chin
St., Taipei, Taiwan R.O.C. |
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Date of Foundation: |
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Registration Number: |
20878864 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2012.12, 1 NTD =0.21717
USD) |
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Legal Representatives: |
Chunhong Zhang |
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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 declined
to disclose the staff number, and from other sources, we couldn’t obtain the
information, either.
Subject was incorporated on
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Name |
Subscription
Amount |
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Chunhong Zhang |
3,100,000 |
The information
above is that of subject’s major shareholders.
Core
Management
Directors
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Name |
Chunhong Zhang |
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Position |
Director |
Offices
& Factories
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Headquarters |
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Add |
Operation
Information
We contacted the subject unsuccessfully.
We obtained the
registered activities of the subject as follows for reference.
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Business Code |
Details |
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1 |
General trade |
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2 |
Investment of the product abroad |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Subject declined to disclose the settlements information, and from other
sources, we couldn’t obtain the information, either.
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 declined to disclose its financials citing the
grounds of company’s confidentiality; from other source we can not obtain the
relevant information, either.
The bankers’ information is not available from the subject or other
sources.
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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Name |
N/A |
Note:
A lady declined to disclose her name.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.85 |
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1 |
Rs.88.39 |
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Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.