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Report Date : |
23.11.2012 |
IDENTIFICATION DETAILS
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Name : |
AA TEX INTERNATIONAL CO., LTD. |
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Registered Office : |
4F. , No.186, Sec.1, |
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Country : |
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Date of Incorporation : |
30.05.2012 |
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Com. Reg. No.: |
53857094 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and sales of woven fabric, etc |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
---- |
NB |
New Business |
---- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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: |
4F. , No.186, Sec.1, Ta Hsing West Road,
Taoyuan County, Taiwan, R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-3-355-9161 |
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Fax Number: |
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E-mail: |
Note: The exact name and address are as above.
|
Credit Opinion: |
Since the subject is a newly established company,
the future development remains to be seen. At this stage credits require
securities. |
|
Registered Name: |
AA Tex International Co., Ltd. |
|
Registered Address: |
4F. , No.186, Sec.1, Ta Hsing West Road, Taoyuan County, Taiwan, R.O.C. |
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Date of Foundation: |
2012-5-30 |
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Registration Number: |
53857094 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
NTD 1,500,000
(USD 51,000) (As of 2012.11, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Rongzhang Zheng |
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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: |
|
|
Date of Last
Annual Return: |
Note: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
Subject was incorporated on 2012-5-30 with registered number 53857094 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Rongzhang Zheng |
1,500,000 |
The information above is that of subject’s major shareholders.
Related Company
|
Name |
Bortex
International Co., Ltd |
|
Address |
4F. , No.186, Sec.1, Ta Hsing West Road, Taoyuan County, Taiwan, R.O.C. |
|
Telephone Number |
+886-3-355-9161 |
|
Fax Number |
+886-3-346-1823 |
Core Management
|
Name |
Rongzhang Zheng |
|
Position |
Director |
Offices
& Factories
|
|
Headquarters |
|
Add |
4F. , No.186, Sec.1, Ta Hsing West Road, Taoyuan County, Taiwan, R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of woven
fabric, etc.
l
Subject has a factory in Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F104110 |
Wholesale of textile, garment, shoe, hat, and
umbrella |
|
C302010 |
Weaving industry |
|
C306010 |
Garment industry |
|
F113050 |
Wholesale of computer and office equipment |
|
F118010 |
Wholesale of software |
|
F401010 |
International trade business |
|
ZZ99999 |
Besides licensed business,
all other business items those are not banned or restricted. |
l
The equipments and raw materials for production are
purchased both home and abroad.
l
Subject is engaged in sales of woven fabric, etc.
l
Subject’s sales regions include Bangladesh, Japan,
Malaysia, Mongolia, Pakistan, Singapore, Vietnam, and some Europe countries,
etc.
l
The major products sold by subject include nylon,
polyester taffeta, pongee, taslan, tactel, and cotton, etc.
l
Subject’s major customers include garment
manufacturer, hat manufacturer, bag manufacturer, and tent manufacturer, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Equipments and raw materials |
COD, CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Equipments and raw materials |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Woven fabric, etc |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Woven fabric, 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 Mr. Lin 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.
|
Name |
Mr. Lin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.16 |
|
UK Pound |
1 |
Rs.88.03 |
|
Euro |
1 |
Rs.70.86 |
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 |
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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 |
|
<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.