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Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
GREAT HUNG ENTERPRISE CO., LTD. |
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|
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Registered Office : |
No.102, Lane 126, Chinan Road, Nan Tzu District, Kaohsiung |
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Country : |
Taiwan |
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Date of Incorporation : |
07.10.1998 |
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Com. Reg. No.: |
16468451 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading of food, etc. |
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No. of Employees : |
About 10 Employees |
RATING & COMMENTS
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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 |
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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 |
|
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: |
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Trading Address: |
No.102, Lane 126, Chinan Road, Nan Tzu
District, Kaohsiung, Taiwan, R.O.C. |
|
Supplied Address: |
No. 102, Lane 126, Chi Nan Road, Nan Tzu
District, Kaohsiung Taiwan |
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Telephone Number: |
+886-7-352-8805 |
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Fax Number: |
|
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E-mail: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Great Hung Enterprise Co., Ltd. |
|
Registered Address: |
No.102, Lane 126, Chinan Road, Nan Tzu District, Kaohsiung, Taiwan,
R.O.C. |
|
Date of Foundation: |
1998-10-7 |
|
Registration Number: |
16468451 |
|
Registry: |
Economic Development Bureau, Kaohsiung City |
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Registered Capital: |
(As of 2012.09, 1 NTD = 0.0334 USD) |
|
Legal Representatives: |
Meizhen Chen |
|
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: |
Subject was incorporated on 1998-10-7 with registered number 16468451 as Limited Liability Company in Taiwan.
Change of Name
|
Former Chinese
Name |
昆虹企業有限公司 |
|
Current Chinese
Name |
鈺贊貿易有限公司 |
|
Name |
Subscription Amount |
|
Meizhen Chen |
12,000,000 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
Great Garden
Enterprise Co., Ltd. |
|
Address |
1F, No.43, Yueh
Yang Street, Nantze District, Kaohsiung 811, Taiwan, R.O.C. |
|
2 |
|
|
Name |
Jong Unity
Enterprise Co., Ltd. |
|
Address |
1F, 24, Lane
207, Chao Ming Rd., Nan Tzu, Kaohsiung, Taiwan, R.O.C. |
Core
Management
|
Name |
Meizhen Chen |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 10 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.102, Lane 126, Chinan Road, Nan Tzu District, Kaohsiung, Taiwan,
R.O.C. |
l
Subject is a trader of food without any production
activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F102170 |
Wholesale of food and groceries |
|
F401010 |
International trade business |
|
F102040 |
Wholesale of beverage |
|
F101050 |
Wholesale of aquatic product |
|
F101990 |
Wholesale of agricultural, animal, and aquatic
products |
|
F203010 |
Retail of food, groceries and beverage |
|
F201030 |
Retail of aquatic product |
|
F201990 |
Retail of other agricultural, animal, and aquatic
products |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
Subject purchase products
mainly from abroad as follows for reference:
|
Product |
Origin |
|
Scallop |
Japan, America, Canada |
|
Shrimp, Crab |
Argentina, Japan, Australia |
|
Seafood cans |
Australia, Chile, Mexico |
|
Nuts |
Thailand |
l
Subject is engaged in
sales of food.
l
Subject’s sales region is
in Taiwan domestic market.
l
The products sold by
subject include scallop, fish, shrimp, crab, seafood cans, cashew nut, and chestnut,
etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase (Taiwan and Mainland, China)
Subject has little
domestic purchase.
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Food |
CBD, etc |
100% |
Sales
Domestic Markets (Taiwan)
|
Sales Terms |
Proportion |
|
|
Food |
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’s relevant staff Mr. Wang declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name |
Mega International Commercial Bank Co Ltd. |
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. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
UK Pound |
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.70.85 |
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.