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Report Date : |
10.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
MINKO TRADING CO., LTD. |
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|
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Registered Office : |
3F.-8, No.303, Dunhua N. Rd., Songshan District, Taipei
City 105 |
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Country : |
Taiwan |
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Date of Incorporation : |
22.02.2005 |
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Com. Reg. No.: |
27563798 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading of food and beverage, etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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: |
|
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Supplied Name: |
|
|
Trading Address: |
3F.-8, No.303, Dunhua N. Rd., Songshan
District, Taipei City 105, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2716-6036 |
|
Fax Number: |
+886-2-2716-5509 |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Minko Trading Co., Ltd. |
|
Registered Address: |
3F.-8, No.303, Dunhua N. Rd., Songshan District, Taipei City 105,
Taiwan (R.O.C.) |
|
Date of Foundation: |
2005-2-22 |
|
Registration Number: |
27563798 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
(As of 2012.10, 1 NTD = 0.0341 USD) |
|
Legal Representatives: |
Mingcong Lu |
|
Legal Form: |
|
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Principal Activities: |
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|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last Annual
Return: |
Notes: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
Subject was incorporated on 2005-2-22 with registered number 27563798 as Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Mingcong Lu |
1,425,000 |
The information above is that of subject’s major shareholders.
Core
Management
|
Name |
Mingcong Lu |
|
Position |
Director |
Offices
& Factories
|
|
Headquarters |
|
Add |
3F.-8, No.303, Dunhua N. Rd., Songshan District, Taipei City 105,
Taiwan (R.O.C.) |
l
Subject is a trader of food and beverage without
any production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F101040 |
Wholesale of domestic animal and fowl |
|
F101050 |
Wholesale of aquatic product |
|
F101100 |
Wholesale of flower |
|
F101130 |
Wholesale of vegetable |
|
F102020 |
Wholesale of edible fat and oil |
|
F102030 |
Wholesale of alcohol and tobacco |
|
F102040 |
Wholesale of beverage |
|
F102050 |
Wholesale of tea |
|
F102170 |
Wholesale of food and grocery |
|
F107050 |
Wholesale of fertilizer |
|
F107200 |
Wholesale of chemical material |
|
F109070 |
Wholesale of stationery, instrument,
entertainment products |
|
F113030 |
Wholesale of precise instrument |
|
F113070 |
Wholesale of telecom equipment |
|
F119010 |
Wholesale of electronic material |
|
F201010 |
Retail of agricultural products |
|
F201020 |
Retail of animal by-products |
|
F201030 |
Retail of aquatic product |
|
F201070 |
Retail of flower |
|
F203010 |
Retail of food, grocery and beverage |
|
F203020 |
Retail of alcohol and tobacco |
|
F207050 |
Retail of fertilizer |
|
F207200 |
Retail of chemical material |
|
F208040 |
Retail of cosmetic |
|
F209060 |
Retail of stationery, instrument, entertainment
products |
|
F213060 |
Retail of telecom equipment |
|
F219010 |
Retail of electronic material |
|
F401010 |
International trade business |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l It is introduced that subject purchases products from mainland China,
other Asian countries, Europe, and America, etc
Sales
Information
l Subject is engaged in sales of food and beverage, etc.
l Subject’s sales region is major in Taiwan domestic market.
l
The major products sold
by subject include fruit, vegetable, alcohol and tobacco, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase (Mainland China)
|
Payment Terms |
Proportion |
|
|
COD, CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Food and beverage |
CBD, etc |
100% |
Sales
Domestic Markets (Taiwan)
|
Sales Terms |
Proportion |
|
|
Food and beverage |
COD, CBD, etc |
100% |
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’s relevant staff Ms. Zhou 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 |
Ms. Zhou |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.38 |
|
UK Pound |
1 |
Rs.83.99 |
|
Euro |
1 |
Rs.67.99 |
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.