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Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
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Name : |
MATSUZAWA INDUSTRIAL CORPORATION |
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Registered Office : |
2nd FL. No. 1, Chungking S. Rd., Sec. 3, Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
21.04.1971 |
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Com. Reg. No.: |
15198819 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of steel products, etc |
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No. of Employees : |
Not Available |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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: |
2nd FL. No. 1, Chungking S. Rd., Sec. 3,
Taipei, Taiwan R.O.C. |
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Supplied Address: |
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Telephone Number: |
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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: |
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Registered Name: |
MATSUZAWA INDUSTRIAL CORPORATION |
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Registered Address: |
2nd FL. No. 1, Chungking S. Rd., Sec. 3, Taipei, Taiwan R.O.C. |
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Date of Foundation: |
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Registration Number: |
15198819 |
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Registry: |
Taipei 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 10,000,000 (USD 334,000) |
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Legal Representatives: |
Qisong Lai |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock
Exchange: |
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Date of Last
Annual Return: |
Notes: Subject declined to disclose its staff
number; from other source we can not obtain the relevant information, either.
Subject was incorporated on
|
Name |
Subscription Shares |
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Qisong Lai |
200 |
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Huijuan Lai |
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70 |
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Zhixiu Lai |
250 |
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Kuancheng Ye |
230 |
The information above
is that of subject’s major shareholders.
Core
Management
Directors
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1 |
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Name |
Qisong Lai |
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Position |
Board Chairman |
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2 |
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Name |
Huijuan Lai |
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Position |
Director |
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3 |
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Name |
Zhixiu Lai |
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Position |
Director |
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4 |
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Name |
Kuancheng Ye |
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Position |
Supervisor |
Offices
& Factories
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Headquarters |
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Add |
2nd FL. No. 1, Chungking S. Rd., Sec. 3, Taipei, Taiwan R.O.C. |
Production
Information
l
Subject is a trader of steel products and subject’s
principal Mr. Lai introduced that subject has processing activities itself, but
he declined to disclose any details.
Purchase
Information
l
The registered activities of subject:
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1 |
Import and export trading business and Foreign guarantee
Business for Import and export trading business |
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2 |
Operating, sales, and products service for
domestic and overseas customers |
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3 |
Interbank guarantee business for all kinds of
productive enterprises |
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4 |
Sales of hardware |
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5 |
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6 |
Sales of textile, garment and accessories and
Agent business |
l
Subject purchases mainly from domestic market.
l
The subject is mainly
engaged in sales of steel products and its major products include steel pipes,
stainless steel pipes, steel sheets, steel slotted angles, nails, steel
fittings and valves, etc
l
Subject’s products are
both sold in domestic and overseas market and it exports to USA, etc
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
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Payment Terms |
Proportion |
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Steel products
and materials, etc |
COD, CBD, etc |
100% |
Foreign Purchase
Subject has little
import.
Sales
Domestic Markets
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Sales Terms |
Proportion |
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Steel products,
etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
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Steel products,
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 Mr. Lai 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.
|
Name |
Mr. Lai |
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Department |
Sales department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
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1 |
Rs.88.50 |
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Euro |
1 |
Rs.70.74 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.