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Report Date : |
05.09.2012 |
IDENTIFICATION DETAILS
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Name : |
B.J. HONG ENTERPRISE CO., LTD. |
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Registered Office : |
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Country : |
Taiwan |
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Date of Incorporation : |
07.11.1996 |
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Com. Reg. No.: |
97139331 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of feed and fertilizer,
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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.
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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: |
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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: |
B.J. HONG ENTERPRISE CO., LTD. |
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Registered Address: |
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Date of Foundation: |
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Registration Number: |
97139331 |
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Registry: |
Economic Development Board of Kaohsiung City Government |
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Registered Capital: |
(As of 2012.09, 1 NTD = 0.0334 USD) |
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Paid-up Capital: |
NTD 11,000,000 (USD 367,400) |
|
Legal Representatives: |
Xiaoting Xu |
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Legal Form: |
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Principal Activities: |
Trading of feed and fertilizer, etc |
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Staff: |
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Listed at Stock
Exchange: |
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Date of Last
Annual Return: |
Notes: Subject did not introduce its staff number; from other source we can not obtain the relevant information, either.
Subject was incorporated on
Change of Name
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Former Chinese Name |
寶佳宏企業有限公司 |
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Current Chinese Name |
寶佳宏企業股份有限公司 |
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Name |
Subscription Shares |
|
Xiaoting Xu |
490,000 |
|
Peishi Xu |
|
|
300,000 |
|
|
Xinyi Xu |
240,000 |
The information above is that of subject’s major shareholders.
Core
Management
|
1 |
|
|
Name |
Xiaoting Xu |
|
Position |
Board Chairman |
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2 |
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|
Name |
Peishi Xu |
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Position |
Director |
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3 |
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Name |
Weiting Xu |
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Position |
Director |
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4 |
|
|
Name |
Xinyi Xu |
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Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Add |
|
l
Subject is a trader of feed and fertilizer without any production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
A101011 |
Seed industry |
|
A199990 |
Other Agricultural industry |
|
C201010 |
Manufacture of Feed |
|
C801110 |
Manufacture of Fertilizer |
|
F101081 |
Seedlings wholesale business |
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F101990 |
Wholesales of other Agricultural, livestock and
aquatic products |
|
F102020 |
|
|
F102170 |
Wholesales of food and groceries |
|
F103010 |
Wholesales of feed |
|
F107050 |
Wholesales of Fertilizer |
|
F199990 |
Other wholesales |
|
F201010 |
Retails of agricultural
products |
|
F201061 |
Retail of germchit |
|
F201990 |
Retails of other Agricultural, livestock and
aquatic products |
|
F202010 |
Retails of feed |
|
F203010 |
Retails of food, groceries and beverage |
|
F207050 |
Retails of Fertilizer |
|
F299990 |
Other retails |
|
F399990 |
Other Comprehensive Retails |
|
F401010 |
International Trading Business |
|
F401071 |
Import and export of germchit |
|
F401991 |
Other Import and export |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
Subject purchases feed and fertilizer both at home and abroad from India,
Pakistan, USA, Europe, sultan and the mainland of
China
Sales
Information
l The subject is
mainly engaged in sales of feed and fertilizer.
l
Subject’s products are mainly sold in Taiwan.
l
Subject’s customers are mainly dealers and farm
plants, etc
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Feed and fertilizer |
CBD, COD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Feed and fertilizer |
L/C, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Feed and fertilizer |
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 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.55.54 |
|
UK Pound |
1 |
Rs.88.23 |
|
Euro |
1 |
Rs.70.02 |
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.