MIRA INFORM REPORT
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Report Date : |
22.10.2012 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL BEST INDUSTRIAL CO., LTD |
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Registered Office : |
11/F., No. 1-10, Sec. 5, Chung Hsiao E. Road, Taipei, Taiwan R.O.C. |
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Country : |
Taiwan |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Not Available |
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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 : |
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
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Country Name |
Previous Rating (31.03.2012) |
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: |
16 FL No. 126, LN 600, Wuxing Street, Sinyi
District, Taipei City 11048 Taiwan |
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Supplied Address: |
16 FL No. 126, LN 600, Wuxing Street, Sinyi District,
Taipei City 11048 Taiwan |
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Telephone Number: |
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Fax Number: |
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
Global Best Industrial Co., Ltd |
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Registered Address: |
11/F., No. 1-10, Sec. 5, Chung Hsiao E. Road, Taipei, Taiwan R.O.C. |
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Registered Place |
Samoa |
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Date of Incorporation |
N/A |
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Registered Capital: |
USD 1,000,000 divided in to 1,000,000 shares @ USD 1 |
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Director |
Lin, Li-Erh |
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Legal Form: |
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Staff |
N/A |
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Listed at Stock
Exchange: |
Notes: Subject is registered in Samoa, we supplied the general registered information above, but the date of Incorporation and staff number are not available from subject or other sources.
Unit: USD
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Name |
Subscription Amount |
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Lin, Li-Erh |
1,000,000 |
The information above is that of subject’s major shareholders.
Entity in the mainland of China
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Address |
No. 1-5 Yanbu
Dongxiuguan Tlan Village, Dali Town, Nanhai, Foshan, Guangdong, China |
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Tel |
+86-757-8575-6400 |
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Fax: |
+86-757-8575-6424/8575-6426 |
Core
Management
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Name |
Lin, Li-Erh |
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Position |
Director |
Offices
& Factories
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Headquarters |
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Add |
16 FL No. 126, LN 600, Wuxing Street, Sinyi District, Taipei City 11048
Taiwan |
Operation Information
l
It is introduced that subject’s Taiwan entity is a
liaison office and it does not take orders; and the main business was taken
over by subject’ entity in the mainland of China
l
The entity in the mainland of China is engaged in
manufacture and sales of garments accessories including lace,
fastener, Thera-band, hardware, and other accessories.
And it mainly exports to Italy, France and India, etc
Subject also
established Foshan Nanhai Yijia Underware Factory (Literal Translation) in the
mainland of China
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Name |
Foshan Nanhai
Yijia Underware Factory (Literal Translation) |
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Address |
Foshan,
Guangdong, China |
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Date of
Foundation: |
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Staff |
About 250
employees |
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Activities |
Design,
manufacture and sales of underwear, swimwear,
etc |
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Export to |
Europe, USA, Middle
East, South Asia and Africa, etc |
Subject did not introduce its settlement information; from other source we can not obtain the relevant 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.
Subject declined to disclose its bank details; from other source we can not 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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.72 |
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UK Pound |
1 |
Rs.86.15 |
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Euro |
1 |
Rs.70.17 |
INFORMATION DETAILS
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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 |
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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.