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Report Date : |
04.07.2012 |
IDENTIFICATION DETAILS
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Name : |
K.H.S. MUSICAL INSTRUMENT CO., LTD. |
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Registered Office : |
10fl., No.162,Zhongshan 2nd Rd., Luzhou Dist., New Taipei City 247 |
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Country : |
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Date of Incorporation : |
27.08.1969 |
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Com. Reg. No.: |
35035758 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Produce and trade of instruments. |
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No. of Employees : |
About 600 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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: |
10fl.,No.162,Zhongshan 2nd Rd., Luzhou
Dist., New Taipei City 247, Taiwan (R.O.C.) |
|
Supplied Address: |
162 Zhongshan 2nd Rd. Lu Zhou City Taipei
County247 Taiwan ROC |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Notes:
The exact name is as above.
The supplied address is incomplete, and the exact address is as above.
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Credit Opinion: |
Subject was incorporated on
Awards
|
Year |
Awards |
|
2008 |
Blue chip importer and exporter |
|
2009 |
Blue chip importer and exporter |
|
2010 |
Blue chip importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
Subscription
Shares |
|
|
Lixue Investment
Co., Ltd (translated) |
18,222,302 |
|
Gongcheng Development Co., Ltd
(translated) |
|
|
59 |
|
|
6,295,706 |
|
|
59 |
|
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Xingxue
Investment Co., Ltd (translated) |
14,435,110 |
The information above
is that of subject’s major shareholders.
Subject introduced that it has about 30 retail stores all over Taiwan,
but declined to disclose more details about subject.
Plant:
|
Name |
Plant Kuolin |
|
Address: |
Chungli, Taiwan, R.O.C |
|
Note: |
Occupied 100,000 square meters. It becomes the
supply center for international wholesales and retailers. The main business
in Kuolin involves production of brass and wood wind instruments, R&D in drums
and percussions, and service as warehouse. |
Related Companies in Taiwan:
|
1 |
|
|
Name |
Musix Co. Ltd. |
|
Address: |
Taiwan, R.O.C |
|
Note: |
Found in 1985 for sale of musical instruments in Taiwan.
As the sales volume and profit increase, branches in Taipei, TaiChung and
Kaohsiung were set up accordingly in order to provide the services to
customers all over Taiwan. |
|
2 |
|
|
Name |
Bohon Music Corp. |
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Address: |
Taipei, Taiwan, R.O.C |
|
Note: |
Sales of professional musical instruments. Its
branches locate from north to south of Taiwan. They are Taipei Aeolus,
Taichung Sextet, and Kaohsiung. |
|
3 |
|
|
Name |
KHS Audio Co. Ltd. |
|
Address: |
Taipei, Taiwan, R.O.C |
|
Note: |
Agency of world audio instruments. Its branches
and service centers are also opened in North, Middle and South of Taiwan.
Retail stores can be found in Taiwan. |
Core
Management
Directors
|
1 |
|
|
Name |
Huixiu Xiao |
|
Position |
Board of Chairman |
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2 |
|
|
Name |
Gongcheng Development Co., Ltd (translated) |
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Position |
Director |
|
3 |
|
|
Name |
Shenghe Development Co., Ltd (translated) |
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Position |
Director |
|
4 |
|
|
Name |
Bokai Musical Instrument Co., Ltd (translated) |
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Position |
Director |
|
5 |
|
|
Name |
Xingxue Investment Co., Ltd (translated) |
|
Position |
Director |
|
6 |
|
|
Name |
Shaohui Chen |
|
Position |
Director |
|
7 |
|
|
Name |
Shiming Yang |
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Position |
Director |
|
8 |
|
|
Name |
Shaofu Chen |
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Position |
Supervisor |
|
9 |
|
|
Name |
Zhiming Lin |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 600 Employees About 42,000
Employees(Group) |
Offices
& Factories
|
|
Headquarters |
|
Add |
10fl.,
No.162,Zhongshan 2nd Rd., Luzhou Dist., New Taipei City 247, Taiwan (R.O.C.) |
Production
Information
l
Subject is a manufacturer and producer of
instruments and the related products with the
production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CH01010 |
Manufacture of
sporting goods |
|
CH01020 |
Manufacture of
musical instruments |
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CH01030 |
Manufacture of
stationery |
|
F401010 |
International
trade |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
The components and raw material for production are
purchased from both local and abroad.
l
Subject is mainly engaged in manufacturing and trading
of kinds of instruments and the related products.
l
Subject introduced that it has about 30 retail
stores in Taiwan, supplying the services for customers.
l
Subject introduced that it Walden acoustic guitars,
Mapex drums, and a full-line of Jupiter brand brass, wind, and stringed
instruments.
l
Subject introduced some brands: Jupiter, Altus for
Wind instruments, Mapex, Linko, Jupiter, Ross, Majestic for Percussions,
Butterfly for Reeds, Linko, Walden for Guitar, Linko for Plastic recorder and
so on.
l
Subject introduced that it also supply the musical
education services in Taiwan.
l
Subject’s selling territory covers all over the
world, such as the United States, Europe, Asia, and so on.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Subject declined to disclose the purchase settlements information, and
from other sources, we couldn’t obtain the information, either.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Instruments |
Cash, Credit Card,
etc. |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Instruments |
L/C , T.T, etc. |
100% |
Notes:
Subject’s settlement for export is generally in USD
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 Mr. Chan 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.
|
Name |
Mr. Chan |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.81 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.69.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
|
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.