|
Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
THE ESLITE CORPORATION |
|
|
|
|
Registered Office : |
B1, B1-1, Tob1-6, No.196, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
24.01.1989 |
|
|
|
|
Com. Reg. No.: |
23155531 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Operation of bookstores |
|
|
|
|
No. of Employees : |
About 1,600 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
--- |
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 |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
B1, B1-1, Tob1-6, No.196, Sungde Rd., Hsin Yi Dist., Taipei 110, Taiwan,
R.O.C. |
|
Supplied Address: |
B1, 196 Songde Rd., Hsin-Yi Dist., Taipei 11075 |
|
Telephone Number: |
|
|
Fax Number: |
Notes: Subject’s exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
The Eslite Corporation |
|
Registered Address: |
B1, B1-1, Tob1-6, No.196, Sungde Rd., Hsin Yi Dist., Taipei 110, Taiwan, R.O.C. |
|
Date of Foundation: |
|
|
Registration Number: |
23155531 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 1,600,000,000 (USD 53,440,000) (As of 2012.09, 1 NTD = 0.0334 USD) |
|
Paid-up Capital: |
NTD 971,730,000 (USD 32,455,782) |
|
Legal Representatives: |
Qingyou Wu |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated
on
|
Name |
Subscription Shares |
|
Qingyou Wu |
28,743,708 |
|
Kai Lin Investment Co., Ltd (Literal Translation) |
|
|
5,593,550 |
|
|
Jiexiu Li |
5,535 |
|
Ling Kai Investment Co., Ltd (Literal Translation) |
9,011,742 |
|
Chengjian Interior
Trim Co., Ltd (Literal Translation) |
22,220,490 |
|
Minjie Wu |
1,847,348 |
|
Qinghe Wu |
5,157,322 |
The information above is that of subject’s major shareholders.
Rescinded Branches
|
Registered Number |
Name |
Status |
Date of Incorporation |
|
Xinyi No.3 Branch |
Rescinded |
|
|
|
Shipai Branch |
Rescinded |
|
|
|
Zhongshan Branch |
Rescinded |
|
|
|
Rescinded |
|
||
|
Taizhong Branch |
Rescinded |
|
|
|
Rescinded |
|
||
|
Rescinded |
|
||
|
Jilong No.3 Branch |
Rescinded |
|
|
|
Rescinded |
|
||
|
Rescinded |
|
||
|
Yonghe No. 1 Branch |
Rescinded |
|
|
|
Banqiao Station No.3 Branch |
Rescinded |
|
|
|
Rescinded |
|
||
|
Banqiao Station No.1 Branch |
Rescinded |
|
|
|
Minsheng No. 1 Branch |
Rescinded |
1 |
|
|
Minsheng No. 3 Branch |
Rescinded |
1 |
|
|
Rescinded |
1 |
||
|
Taida No. 2 Branch |
Rescinded |
1 |
|
|
MRT Danshui Line Taipei
Station No. 3 Branch |
Rescinded |
|
|
|
Dunnan No. 3 Branch |
Rescinded |
|
|
|
MRT Danshui Line Taipei
Station No.2 Branch |
Rescinded |
|
|
|
Rescinded |
|
||
|
Rescinded |
|
||
|
Guangfu Branch |
Rescinded |
|
|
|
Rescinded |
|
||
|
Tianmu Branch |
Rescinded |
|
|
|
Tianmu No. 2 Branch |
Rescinded |
|
Active Branch
|
Branch
Registered Number |
28998602 |
|
Branch Name |
Xinyi No. 3 Branch |
|
Branch Manager |
Qingyou Wu |
|
Branch Address |
5/F., No.11, Songgao Road, Xinyi District,
Taipei, Taiwan. |
|
Date of
Incorporation |
|
Core
Management
|
1 |
|
|
Name |
Qingyou Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zixian Tong |
|
Position |
Director |
|
3 |
|
|
Name |
Jiexiu Li |
|
Position |
Director |
|
4 |
|
|
Name |
Lv Li |
|
Position |
Director |
|
5 |
|
|
Name |
Mingdu Wu |
|
Position |
Director |
|
6 |
|
|
Name |
Minjie Wu |
|
Position |
Director |
|
7 |
|
|
Name |
Chuntian Lai |
|
Position |
Director |
|
8 |
|
|
Name |
Qinghe Wu |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Xueshun Zhang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 1,600 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
B1, B1-1, Tob1-6, No.196, Sungde Rd., Hsin Yi Dist., Taipei 110, Taiwan, R.O.C. |
Operation
Information
Subject operates about 38 bookstores in Taiwan, supplying book retailing service.
It is introduced that subject’s bookstores have 2,700,000 books divided into 250,000 sorts and 1,800,000 stationery items divided into 100,000 sorts and all kinds of Audio-Visual Products
And the bookstores are of different styles including Music Rooms, Style stationery rooms, Children's bookstores, Art Studio and cooking studios, etc
Subject’s business
can be divided into 4 parts as follows:
· ESLITE Bookstores
ESLITE Online Bookstores
ESLITE logistic service
l
The major registered activities of subject:
|
Business Code |
Details |
|
F209060 |
Retails of culture
and education,
musical instrument
and Recreational supplies |
|
F401010 |
International Trading Business |
|
I401010 |
General advertising services |
|
J303010 |
Magazine (periodicals) publishing services |
|
J304010 |
|
|
J601010 |
Artistic and cultural services |
|
J602010 |
Entertainment activities industry |
|
J701090 |
Video programs broadcasting industry |
|
JB01010 |
Exhibition services |
|
JD01010 |
Credit reporting
service industry |
|
JE01010 |
Leasing industry |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Subject did not introduce
its purchasing terms
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Books, etc |
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
|
Trial Number |
98, Beijian ,33436 |
|
Trial Date |
|
|
Reason |
Payment Arrested funds |
|
2 |
|
|
Trial Number |
98, Beijian,33436 |
|
Trial Date |
990108 |
|
Reason |
Payment Arrested funds |
|
3 |
|
|
Trial Number |
96, Beijian 25979 |
|
Trial Date |
970102 |
|
Reason |
|
|
4 |
|
|
Trial Number |
92, Beijian,19725 |
|
Trial Date |
921218 |
|
Reason |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.88.50 |
|
Euro |
1 |
Rs.70.74 |
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.