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Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
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Name : |
PROXGEN INTERNATIONAL CO., LTD. |
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Formerly Known As : |
Pro Gen International Co., Ltd. |
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Registered Office : |
7F.-3, No. 2, Sec. 2, |
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Country : |
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Date of Incorporation : |
13.11.1986 |
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Com. Reg. No.: |
22331573 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Sales of health food, cosmetics, nutritional ingredients, herbal extracts, etc |
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No. of Employees : |
About 30 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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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Former Name: |
Pro Gen
International Co., Ltd. |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
+886-2-23514902 |
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Fax Number: |
+886-2-23933429 |
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E-mail: |
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Credit Opinion: |
Subject was incorporated on
Change of Name
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Former English
Name |
Pro Gen
International Co., Ltd. |
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Current English
Name |
Proxgen International Co., Ltd. |
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Name |
Subscription Shares |
|
Guiding Chen |
160 |
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Mengfeng Lai |
160 |
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Kunyuan Zhuang |
70 |
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Xuying Chen |
30 |
The information above is that of subject’s major shareholders.
It is introduced that subject has a related company in South Korea but we cannot obtain the details of the related company from any sources.
Core
Management
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1 |
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Name |
Guiding Chen |
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Position |
Chairman |
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2 |
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Name |
Mengfeng Lai |
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Position |
Director |
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3 |
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Name |
Kunyuan Zhuang |
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Position |
Director |
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4 |
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Name |
Xuying Chen |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 30 Employees |
Offices
& Factories
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Headquarters |
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Add |
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Production
Information
l
Subject is a trader of health food, cosmetics, nutritional ingredients, herbal extracts, etc without any production activities.
l
It is introduced subject has a related company in
south Korea which is engaged in research and development health food, etc, but we cannot obtain the
details of the related company from any sources.
l
Certifications of the products are as followed for
reference:
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U.S. Patent No.5,730,876, |
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Korean Patent No.10-0200547 |
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FDA Certification ID CODE 2030950 |
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ISO 9001 certificated process. |
Purchase
Information
l
The registered activities of subject:
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Business Code |
Details |
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-- |
General import and export business (except future
goods) |
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-- |
Agency of bid, offer and sales for domestic and
overseas companies (except future goods) |
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-- |
Trading business of canned food, natural pollen cosmetics
(except special permission) clean series products |
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Import and export business of western medicine |
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Publication and trading business of magazines and
books |
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F108011 |
Wholesale of traditional Chinese medicine |
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F208011 |
Retail of traditional Chinese medicine |
l
It is introduced that the products are mostly
purchased from their related company in South Korea.
l
The subject is mainly engaged in sales of health food, cosmetics, nutritional ingredients,
herbal extracts, etc
l
Subject sells the products with the brands
“Wechito” and “WSC”
Major products
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Type |
Item |
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High Molecular Water Soluble Chitosan (WSC
Chitosan) |
Detox, immune, cancer, weight loss, antiaging,
liver&kidney&heart protect, diabetes, health food, supplement,
nutraceuticals, medical |
l
The general delivery lead time of subject is 45
days for goods over
l
Subject’s main sales region is Asia
l
Subject’s customers include health food and
cosmetic manufacturer, hospital, chain pharmacy, pharmacist, medical clinic,
salon, online store, etc.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase (Taiwan and Mainland, China)
Subject has little
domestic purchase.
Foreign Purchase
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Payment Terms |
Proportion |
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Health food, cosmetics,
nutritional ingredients, herbal extracts, etc |
Interior settlement, etc |
100% |
Sales
Domestic Markets (Taiwan)
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Sales Terms |
Proportion |
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Health food, cosmetics,
nutritional ingredients, herbal extracts, etc |
COD, CBD, etc |
100% |
Export
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Sales Terms |
Proportion |
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Health food, cosmetics,
nutritional ingredients, herbal extracts, etc |
CBD, 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. 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.
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Name |
Mr. Chen |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.86 |
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UK Pound |
1 |
Rs.87.93 |
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Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.