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Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
YWAN CHANG ENTERPRISE CO., LTD. |
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|
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Registered Office : |
No.58, Jhenping Lane, Erlin Township, Changhua County 526 |
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Country : |
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Date of Incorporation : |
19.08.2005 |
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Com. Reg. No.: |
27873750 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of chemical materials, etc |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
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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) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
Company Name: |
Ywan Chang Enterprise Co., Ltd. |
|
Supplied Name: |
YWAN CHANG ENT CO LTD. |
|
Supplied Address: |
C/O No. 2 Lane 1 Moo Fan St W Dist. Taichung |
|
Credit Opinion: |
In view of the absence of information about subject’s operation, caution should be exercised. |
According to the supplied name, we can not find any operation information or valid contact information of subject from public files.
According to the supplied address, we found a telephone +886-2320-2281 through public files.
We tried to contact
subject through this telephone number but the telephone number is not exist.
Public files show subject’s principal activity is trading of chemical materials, but the information is not confirmed by subject.
Update to date of reporting, we failed to get in touch with subject. If you can supply a current telephone or fax number, we’d like to have the investigation resumed.
We found subject’s registration information as follows for reference.
|
Registered Name: |
Ywan Chang Enterprise Co., Ltd. |
|
Registered Address: |
No.58, Jhenping Lane, Erlin Township, Changhua County 526, Taiwan (R.O.C.) |
|
Date of Foundation: |
2005-8-19 |
|
Registration Number: |
27873750 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
NTD 5,000,000 (USD
170,000) (As of 2012.11, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 5,000,000 (USD 170,000) |
|
Legal Representatives: |
Hongzhang Xue |
|
Legal Form: |
|
|
Principal Activities: |
|
|
N/A |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Note: We couldn’t
contact subject successfully, the number of staff is not available from the
subject or other sources.
Subject was incorporated on 2005-8-19 with registered number 27873750 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Hongzhang Xue |
200,000 |
| Shuzhen
Huang |
200,000 |
|
Yi Xue |
50,000 |
|
Jinzhu Hongxue |
50,000 |
The information above is that of subject’s major shareholders.
Core
Management
|
1 |
|
|
Name |
Hongzhang Xue |
|
Position |
Board Director |
|
2 |
|
|
Name |
Shuzhen Huang |
|
Position |
Director |
|
3 |
|
|
Name |
Yi Xue |
|
Position |
Director |
|
4 |
|
|
Name |
Jinzhu Hongxue |
|
Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Registered Address |
No.58, Jhenping Lane, Erlin Township, Changhua County 526, Taiwan
(R.O.C.) |
Operation
Information
We found subject is engaged in trading of chemical materials, etc from public files.
Since we couldn’t contact subject successfully, the information is not confirmed by them.
l
Subject’s registered
activities as follows for reference.
|
Business Code |
Details |
|
F107200 |
Wholesale of chemical materials |
|
F107190 |
Wholesale of plastic film and bag |
|
F102170 |
Wholesale of food grocery |
|
F104110 |
Wholesale of textile, garment, shoe,
hat, umbrella, and garment accessory |
|
F207200 |
Retail of chemical materials |
|
F207190 |
Retail of plastic film and bag |
|
F203010 |
Retail of food and beverage |
|
F204110 |
Retail of textile, garment, shoe, hat, umbrella,
and garment accessory |
|
F401010 |
International trade business |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
We couldn’t contact subject successfully, and the settlement information is not available from the subject or other sources.
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.
Since we couldn’t contact subject successfully, and the financial information is not available from the subject or other sources.
Since we couldn’t
contact the subject successfully, the supplied bank information is not
confirmed by subject.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.20 |
|
UK Pound |
1 |
Rs.88.38 |
|
Euro |
1 |
Rs.71.47 |
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 |
|
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.