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Report Date : |
12.07.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
SWISSDUKE TRADING COMPANY |
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Registered Office : |
No.93, |
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Country : |
Taiwan |
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Date of Incorporation : |
04.03.2004 |
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Com. Reg. No.: |
80679713 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of jewelry |
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No. of Employees : |
About 12 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – 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 |
|
Restricted |
C2 |
|
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: |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as above and it is introduced that the supplied name also belongs
to subject.
|
Credit Opinion: |
|
Registered Name: |
Swissduke Trading Company |
|
Registered Address: |
No.93, Xining S. Rd., Wanhua Dist., Taipei City 10843, Taiwan (R.O.C.) |
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Date of Foundation: |
|
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Registration Number: |
80679713 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2012.07, 1 NTD = 0.0334 USD) |
|
Legal Representatives: |
Junhao Guo |
|
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
|
Name |
Subscription Amount |
|
Junhao Guo |
3,000,000 |
The information above is that of subject’s major shareholders.
Related Shops and office
|
Address |
1FL 76 E Mei Street, Wanhua Dist, Taipei City 108, Taiwan |
|
Tel: |
+886-2-2314-0156 |
|
2 |
|
|
Address |
No. 91, Xining
South Road, Taipei City, Taiwan |
|
Tel: |
+886-2-2381-0936 |
|
3 |
|
|
Address |
C307, Xin Xin
Jing Di Mansion, No. 396, Jiahe Road, Huli District, Xiamen City, China |
|
Tel: |
+86-592-5567913 |
Core
Management
|
1 |
|
|
Name |
Junhao Guo |
|
Position |
Director |
|
2 |
|
|
Name |
Songhe Sun |
|
Position |
Manager |
|
Date of
Appointment |
|
Personnel
Structure
|
Total Employees |
About 12 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a trader of jewelry
l
Subject’s group is engaged in manufacture and sales
of jewelry and the group has 6 brands including Maymay and Carol, etc (Literal
Translation), but the details are not disclosed.
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. |
l
Subject purchases mainly from its own group in
Taiwan.
l
Subject’s group purchase raw materials both at home
and abroad.
l
The subject is mainly engaged in sales of jewelry
including K gold jewelry and gems, etc
l
The products of subject’s group are sold in both
domestic and overseas market
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Jewelry, etc |
Interior settlement, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Jewelry, etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Jewelry, etc |
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 Peter 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 confirm the supplied Bankers:
Chinatrust Commercial Bank Ltd. Taipei City 110, Taiwan, and 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 |
Peter |
|
Department |
Sales department |
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of themselves
made money from these businesses but their diamond companies have gone sick and
declared insolvency.
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.37 |
|
UK Pound |
1 |
Rs.85.95 |
|
Euro |
1 |
Rs.67.87 |
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 |
|
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.