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Report Date : |
16.11.2012 |
IDENTIFICATION DETAILS
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Name : |
GLORY TRADE FINANCE LIMITED TAIWAN BRANCH (H.K.) |
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Registered Office : |
11F., No.288, Rueiguang Rd., Neihu District,
Taipei City 114 |
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Country : |
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Date of Incorporation : |
19.09.2001 |
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Com. Reg. No.: |
70818032 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesale of software |
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No. of Employees : |
ABOUT 10
EMPLOYEES ( |
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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
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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
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Company Name: |
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Supplied Name: |
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Trading Address: |
11F., No.288,
Rueiguang Rd., Neihu District, Taipei City 114, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-2659-0168 |
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Fax Number: |
+886-2 2659-0286 |
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E-mail: |
Notes: The complete address is as above.
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Registered Name: |
Glory Trade Finance Limited Taiwan Branch
(H.K.) |
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Registered Address: |
11F., No.288, Rueiguang Rd., Neihu District,
Taipei City 114, Taiwan (R.O.C.) |
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Date of Foundation: |
2001-9-19 |
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Registration Number: |
70818032 |
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Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
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Registered Capital: |
(As of 2012.11, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD
(USD ) |
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Legal Representatives: |
Hiranandani Shilpa Dalu |
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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 2001-9-19 with registered number 70818032
as Private Limited Liability Company in Taiwan.
Major shareholder
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Name: |
Glory Trade Finance Limited |
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Date of Registration |
2001-09-19 |
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Registered Number |
70818032 |
Parent Company
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Name |
Glory Trade Finance Limited |
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Date of Registration |
2001-09-19 |
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Registered Number |
70818032 |
Related Companies
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1 |
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Name |
Guangzhou Office |
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Address |
Room-1809,B Block Huabiao Square, 609 Tianhe Northern Rd., Tianhe
District, Guangzhou City, Guangdong Province, China, P.R.C |
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Telephone Number |
+86-20-3847-2519 |
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Fax Number |
+86-20-3847-2926 |
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2 |
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Name |
Shaoxing Office |
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Address |
World Trade Center, A2-17Floor,06-07,Keqiao, Shaoxing City, Zhejiang
Province, China, P.R.C |
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Telephone Number |
+86-575-456-7757 |
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Fax Number |
+86-575-456-7756 |
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3 |
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Name |
India Office |
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Address |
Room.603,6th Floor,24th Road, Kohinoor Niwas, TPS iii, Khar West,
Mumbai-52, India |
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Telephone Number |
+91-22-2648-0944 |
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Fax Number |
+91-22-2648-1266 |
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4 |
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Name |
Glory Trade Finance S.A. |
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Address |
Cofrisa 8 Local 9, Calle 17, Ave.San Eladio Zona Libre De Colon,
Republica De Pananma |
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Telephone Number |
+507-445-3560 |
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Fax Number |
+507-445-3562 |
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5 |
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Name |
Imp Y Exp Glotex Itda |
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Address |
Manzana 2.Galpon 19, Zofri, Iquique, Chile |
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Telephone Number |
+56-57-417196 |
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Fax Number |
+56-57-417207 |
Core Management
Directors
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Name |
Hiranandani Shilpa Dalu |
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Position |
Manager |
Personnel Structure
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Total Employees |
About 10 Employees (Taiwan Office) |
Offices & Factories
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Headquarters |
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Add |
11F., No.288, Rueiguang Rd., Neihu District, Taipei City 114, Taiwan
(R.O.C.) |
Production Information
Subject is a trader of textile, etc without any production activities.
Purchase Information
The registered activities of subject:
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Business Code |
Details |
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F118010 |
Wholesale of software |
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F401010 |
International trade business |
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I301010 |
Software service |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
Subject purchases products from both home and
abroad such as mainland China, South Korea and India, etc
Subject is engaged
in sales of textile, etc.
Subject’s sales regions include Asia, Central
and South America, etc.
Subject has sales office in Panama, Chile, and
Mexico, etc.
The major products sold by subject include
mini matts, printed chiffons, jeans cloth, charmuse satin, poly viscose, pique,
peach skin, and suiting shirting, etc.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
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Payment Terms |
Proportion |
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Textiles |
COD, CBD, etc |
100% |
Foreign Purchase
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Payment Terms |
Proportion |
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Textiles |
CBD, etc |
100% |
Sales
Domestic Markets
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Sales Terms |
Proportion |
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COD, CBD, etc |
100% |
Export
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Sales Terms |
Proportion |
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Textiles |
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 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
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Trial number: |
2011, Beihaishang, 1 |
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Date of trial: |
2012-1-4 |
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Reason: |
Compensation for damages |
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Name |
Mr. Chen |
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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.54.96 |
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1 |
Rs.87.10 |
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Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.