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Report Date : |
18.02.2012 |
IDENTIFICATION DETAILS
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Name : |
CHUNG SHING TEXTILE MARKETING CO., LTD. |
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Registered Office : |
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Country : |
Taiwan |
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Date of Incorporation : |
20.10.2006 |
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Com. Reg. No.: |
28440296 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Sales of chemical fiber and underwear, etc. |
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No. of Employees : |
About 400 employees (Company) Over 900 employees (Group Staff in Taiwan) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 50,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
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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: |
+886-2-2345-8855 |
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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 Rating: |
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Credit Opinion: |
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Registered Name: |
Chung Shing Textile Marketing Co., Ltd. |
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Registered Address: |
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Date of Foundation: |
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Registration Number: |
28440296 |
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Registry: |
Department of Commerce, Ministry of Economic Affairs,
R.O.C. |
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Registered Capital: |
NTD 935,000,000
(USD 31,603,000) (As of 2012.02, 1 NTD = 0.0338 USD) |
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Paid-up Capital: |
NTD 935,000,000 (USD 31,603,000) |
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Legal Representatives: |
Hanxiong Wu |
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Legal Form: |
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Principal Activities: |
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Staff: |
Over 900 employees (Group Staff in Taiwan) |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated
on
Awards
|
Year |
Awards |
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2008 |
Blue chip importer and exporter |
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2009 |
Blue chip importer and exporter |
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2010 |
Blue chip importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2008 |
19,000,000 |
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2009 |
15,000,000 |
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2010 |
20,000,000 |
Shareholders
|
Name |
Subscription
Shares |
|
Chung Shing Textile Co., Ltd. |
93,500,000 |
The information above is that of subject’s major shareholders.
Parent Company
|
Name |
Chung Shing Textile Co., Ltd. |
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Address: |
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Tel: |
+886-2-2345-5777 |
Core Management
Directors
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1 |
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|
Name |
Hanxiong Wu |
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Position |
Board Chairman |
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2 |
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Name |
Taijun Bao |
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Position |
Director |
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3 |
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Name |
Zirong Huang |
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Position |
Director |
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4 |
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Name |
Zhengfeng Lin |
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Position |
Director |
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5 |
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Name |
Danian Zhang |
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Position |
Director |
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6 |
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Name |
Ronghui Lin |
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Position |
Supervisor |
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7 |
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Name |
Tiancai Lin |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 400 employees (Company) Over 900 employees (Group Staff in Taiwan) |
Offices & Factories
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Headquarters |
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Add |
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Production Information
·
Subject’s group is engaged in manufacture of
chemical fiber and underwear, etc
·
Subject’s annual production capacity of chemical
fiber is as follows
|
Products |
Annual
Production Capacity (ton) |
|
(P.T.Y) POLYESTER TEXTURED YARN |
29,000 |
|
(P.O.Y) POLYESTER p-ORIENTED YARN |
113,150 |
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(P.S.F) POLYESTER STAPLE FIBER |
68,000 |
|
(PET CHIP) |
109,500 |
Purchase Information
·
The major registered activities of subject:
|
Business Code |
Details |
|
C301010 |
Spinning Industry |
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C306010 |
Garment Industry |
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C307010 |
Clothing product manufacturing |
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C399990 |
Manufacture of other textiles products |
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C801100 |
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C801120 |
Manufacture of Artificial fiber |
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F301010 |
Department Store Industry |
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F301020 |
Super Market Industry |
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F399010 |
Convenience Store Industry |
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F401010 |
International Trading Business |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
·
Subject purchases mainly from its related factory
in the same group.
·
The subject is mainly engaged in sales of chemical fibers
and underwear.
·
Subject’s underwear has its own brand named
“THREEGUN”
·
Subject’s products are both sold in domestic and
overseas market.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
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Chemicals fibers and underwear |
Interior settlement, etc |
100% |
Foreign Purchase
Subject has little import business
Sales
Domestic Markets
|
Sales Terms |
Proportion |
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|
Chemicals fibers and underwear |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
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|
Chemicals fibers and underwear |
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 staff Mr. Ruan declined to disclose
its financials citing the grounds of company’s confidentiality; from other
source we can not obtain the relevant information, either.
Subject did not introduce 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 |
Mr. Ruan |
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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 |
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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.