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Report Date : |
25.10.2012 |
IDENTIFICATION DETAILS
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Name : |
YU FONG TECHNOLOGIES CO., LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
18.07.1994 |
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Com. Reg. No.: |
84919551 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of shoe making machines, raw materials and Mounlds, etc |
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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 |
|
|
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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: |
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Supplied Address: |
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Telephone Number: |
+886-4-2471-4503/4508 |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
Notes: Subject did not introduce its staff number; from other source we can not obtain the relevant information, either.
Subject
was incorporated on
|
Name |
Subscription Amount |
|
Shaoyu Su |
13,010,000 |
The information above is that of subject’s major shareholders.
Agents
|
1 |
|
|
Name |
DYNA
CREATION PVT. LTD. (India agent for
service in New Delhi) |
|
Address |
M-576, 1st
Floor,Guru Harkishan Nagar, Paschim Vihar, New Delhi-110087, India |
|
Tel: |
+91-11-45689688
+91-11-45689699 +91-11-45668287 |
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Fax: |
+91-11-25274297 |
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E-mail: |
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2 |
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Name |
DYNA
CREATION PVT. LTD. (India agent for
service in Kolkata) |
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Address |
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Tel: |
+91-33-2441-6006 |
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Fax: |
+91-33-2441-6006 |
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E-mail: |
|
It is introduced that subject also has branch company in Jinjiang, the mainland of China, while the details are not disclosed.
Core
Management
|
Name |
Shaoyu Su |
|
Position |
Director |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a trader of machines, mould and materials for shoe making without any production activities
Purchase
Information
l
The registered activities of subject:
|
1 |
General import and export trading business
Besides licensed business |
|
2 |
Bidding service and price quoting service of the products
for domestic and overseas customers |
l
Subject purchases mainly at home from Taiwan and
the mainland of China.
l
The subject is mainly engaged in sales of shoe
making machines, materials and mould, etc
l
Subject’s products are both sold in domestic and
overseas market and its mainly exports to India, Bangladesh, Sri Lanka,
Pakistan Nepal South Africa Kenya, etc
l
Subject’s major customers including BATA Group,
Lakhani、 Relaxo、 Action、 Paragon, etc
Major products
|
Product |
Detailed items |
|
Shoe Making Machines |
Full-automatic Eva Injection Machines Air Blowing
Injection Machines Dip machine PU Production Line
Series EVA Foaming
Molding Pressure Bottom Machine Full-Automatic Servo control vest bag
special machine Automatic
trimming - leather opening machine Heel machine Rubber and plastic vertical type injection machine |
|
Moulds |
Outsole Assembly
Die Air Blowing
Injection Die DIP Die EVA Injection
Die SHEET Die PVC Shoelace
die, Rubber Mold |
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BACKING MATERIAL: NON-WOVEN NEEDLE PUNCHING CHEMICAL SHEET
& TOE PUFF: CHEMICAL SHEET TOE PUFF FOR INSOLE: P/P CAMBRELLA PLAIN POLIYOU LAMINATED WITH
POLIYOU DECORATION: BEAD GLITTER 3D SHEET RAW MATERIAL EVA COMPUND: BLOWN AGENT, PCU
MATERIAL PVC
MATERIAL HOT MELTING GLUE SOLE(CHINA) EVA SOLE GOLF SOLE PU SOLE TPR SOLE |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Machines, materials and moulds, etc |
COD, CBD, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Machines, materials and moulds, etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Machines, materials and moulds, 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 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.
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.59 |
|
UK Pound |
1 |
Rs.85.81 |
|
Euro |
1 |
Rs.69.91 |
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.
