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Report Date : |
03.11.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
No.18, Lu Kung South 5th Rd., |
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Country : |
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Date of Incorporation : |
09.07.1997 |
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Com. Reg. No.: |
16060236 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer of TPU for PU adhesive |
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No. of Employees : |
Not Available |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
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
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.18, Lu Kung South 5th Rd., Lukang
Township, Chang-Hua County 505, Taiwan, R.O.C. |
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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:
The supplied address is incomplete, and the exact address is as above.
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Credit Opinion: |
Subject declined to disclose the staff number, and from other sources, we couldn’t obtain the information, either.
Subject was incorporated on
Awards
|
Year |
Awards |
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2009 |
Blue chip importer and exporter |
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2010 |
Blue chip importer and exporter |
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2011 |
Blue chip importer and exporter |
Standard of Blue chip
importer and exporter
Unit: USD
|
Year |
Amount |
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2009 |
15,000,000 |
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2010 |
20,000,000 |
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2011 |
22,000,000 |
|
Name |
Subscription
Shares |
|
Xuewen Zhou |
3,215,650 |
|
Xuexiang Zhou |
2,000,000 |
|
Guanghuo Lin |
1,250,000 |
|
Shumei Zhang |
765,600 |
The information above is that of subject’s major shareholders.
Core
Management
|
1 |
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|
Name |
Xuewen Zhou |
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Position |
Director |
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2 |
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|
Name |
Xuexiang Zhou |
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Position |
Director |
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3 |
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|
Name |
Guanghuo Lin |
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Position |
Director |
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4 |
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Name |
Shumei Zhang |
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Position |
Supervisor |
Offices
& Factories
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|
Headquarters |
|
Add |
No.18, Lu Kung
South 5th Rd., Lukang Township, Chang-Hua County 505, Taiwan, R.O.C. |
Production
Information
l
Subject is a manufacturer of TPU for PU adhesive and the related products
with the production activities
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacture and
trade of PU |
l
The components and raw material for production are
mostly purchased from local.
l
Subject is mainly engaged in manufacturing and
trading of TPU for PU adhesive and the
related products.
l
Subject introduced that major products
sold
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Product |
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1 |
TPU for solvent
based PU adhesive |
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2 |
TPU for hotmelt
adhesive |
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3 |
TPU for ink |
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4 |
TPU for
injection |
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5 |
TPU for
extrusion |
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6 |
TPU for blown
film |
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7 |
Others |
l
Subject introduced that the production quantity
25,000 tons annually.
l
Subject’s selling territory covers all over the
world, such as Asia, U.S.A, and so on.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Subject declined to disclose the settlements information, and from other sources, we couldn’t obtain the information, either.
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 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.
Note:
The staff declined to disclose her name.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.66 |
|
UK Pound |
1 |
Rs.86.37 |
|
Euro |
1 |
Rs.69.24 |
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 |
---- |
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.