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Report Date : |
03.11.2012 |
IDENTIFICATION DETAILS
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Name : |
OLAY INTERNATIONAL COMPANY LIMITED |
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Registered Office : |
3F.-7, No.328, Sec. 2, Wenhua 3rd Rd., Linkou Dist., New Taipei City 24459 |
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Country : |
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Date of Incorporation : |
30.05.1990 |
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Com. Reg. No.: |
23779473 |
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Legal Form : |
Jointly Stock Company |
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Line of Business : |
Trading of dyeing and finishing auxiliaries and the related products. |
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No. of Employees : |
Over 10 employees (estimated) |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
Notes: subject did not introduce its staff number
and the staff number above is estimated and only for reference.
Subject was incorporated on
Change of Name
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Former Chinese Name |
歐蕾貿易有限公司 |
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Current Chinese Name |
歐蕾國際股份有限公司 |
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Former English Name |
OLAY TRADING CO., LTD. |
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Current English Name |
OLAY INTERNATIONAL COMPANY LIMITED |
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Name |
Subscription Shares |
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Zongyu Yang |
637,500 |
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Ziyun Pu |
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287,500 |
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Xiufei Yang |
337,500 |
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Xiuqi Yang |
237,500 |
The information
above is that of subject’s major shareholders.
Core
Management
Directors
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1 |
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Name |
Zongyu Yang |
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Position |
Board Chairman |
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2 |
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Name |
Ziyun Pu |
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Position |
Director |
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3 |
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Name |
Xiufei Yang |
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Position |
Director |
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4 |
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Name |
Xiuqi Yang |
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Position |
Supervisor |
Offices
& Factories
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|
Headquarters |
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Add |
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l
Subject is engaged in trading of dye intermediates,
dyes and textile auxiliaries without any production itself
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
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F104110 |
Wholesales of fabric, garment, footwear, caps,
umbrellas and accessories, etc |
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F105050 |
Wholesales of furniture, bedding products,
kitchenware and installed products, etc |
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F107041 |
Wholesales of pesticide |
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F107200 |
Wholesales of chemical materials |
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F204110 |
Retails of fabric, garment, footwear, caps,
umbrellas and accessories, etc |
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F205040 |
Retails of furniture, bedding products,
kitchenware and installed products, etc |
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F207041 |
Retails of pesticide |
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F207200 |
Retails of chemical materials |
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F399990 |
Other Comprehensive Retails |
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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. |
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F106010 |
Wholesales of hardware |
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F111090 |
Wholesales of building materials |
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F113010 |
Wholesales of machinery |
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F113020 |
Wholesales of electronic appliance |
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F113030 |
Wholesales of precise
instrument |
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F113050 |
Wholesales of computer and Affairs machine and
equipment |
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F118010 |
Wholesales of information software |
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F206010 |
Retails of hardware |
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F213010 |
Retails of electronic appliance |
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F213030 |
Retails of computer and Affairs machine and
equipment |
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F213040 |
Retails of precise
instrument |
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F213080 |
Retails of mechanical
appliance |
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F218010 |
Retails of information software |
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A101020 |
Crop Cultivation Industry |
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A101050 |
Floriculture Industry |
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A102020 |
Agricultural finishing industry |
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A102080 |
Gardening services |
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E599010 |
Piping engineering |
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E601010 |
Electrical Bearing outfit industry |
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E601020 |
Electrical Installation Industry |
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E603010 |
Cable installation engineering |
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E603050 |
Automatic control equipment engineering |
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E603080 |
Traffic Signal Installation Engineering |
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E603090 |
Lighting equipment installation engineering |
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E604010 |
Machinery installation industry |
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E605010 |
Computer equipment installation industry |
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E801010 |
Interior decorating businesses |
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E801030 |
Indoor light steel frame engineering |
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EZ05010 |
Instrumentation installation engineering |
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EZ14010 |
Sports field equipment engineering |
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I301030 |
Electronic information supplying services |
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I501010 |
Products design industrial |
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J304010 |
l
Subject purchases mainly abroad and it is
introduced that subject carried the brand named BENLON
l
The subject is mainly engaged in sales of dye
intermediates, dyes and textile auxiliaries, etc
l
Subject’s products are mainly sold in domestic
market.
Major Products
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Dyes: |
Disperse,
Reactive, Acid, Direct, Vat, Indigo, Optical Whitening Agent, Pigment,
Solvent Dyes |
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Textile
Auxiliaries |
Pre-treating Agent,
Dispersing Agent,Leveling Agent, Softening Agent, Water Repellent Agent,
Retardant Agent, Binders |
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-- |
Effluent
Treating Agent old products |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
Subject has little domestic purchase
Foreign Purchase
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Payment Terms |
Proportion |
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Dye
intermediates, dyes and textile auxiliaries, etc |
CBD, L/C, etc |
100% |
Sales
Domestic Markets
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Sales Terms |
Proportion |
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Dye
intermediates, dyes and textile auxiliaries, etc |
CBD, COD, etc |
100% |
Export
Subject has little export
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 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 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.
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Department |
Sales department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.66 |
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1 |
Rs.86.37 |
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Euro |
1 |
Rs.69.24 |
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 |
-- |
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.