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Report Date : |
15.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
GADEN CORPORATION |
|
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|
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Registered Office : |
30, |
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Country : |
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Date of Incorporation : |
19.08.1991 |
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Com. Reg. No.: |
86265134 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of chemicals such as adhesives and glues, etc |
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|
|
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No. of Employees : |
About 20 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 : |
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: |
30, Cheng Kung
St., Pei Dou Tsun, Ming Hsiung Hsiang, Chia-Yi Hsien Taiwan R.O.C. |
|
Supplied Address: |
30 Cheng Kung,
St. Ming Hsiung Industrial District, Chia-Yi Hsien Taiwan |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Notes: The exact address are as above.
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Credit Opinion: |
|
Registered Name: |
Gaden Corporation |
|
Registered Address: |
30, Cheng Kung St., Pei Dou Tsun, Ming Hsiung
Hsiang, Chia-Yi Hsien Taiwan R.O.C. |
|
Date of Foundation: |
1991-8-19 |
|
Registration Number: |
86265134 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
NTD 25,000,000
(USD 835,000) (As of 2012.09, 1 NTD = 0.0334 USD) |
|
Paid-up Capital: |
NTD 25,000,000 (USD 835,000) |
|
Legal Representatives: |
Qinghu Ye |
|
Legal Form: |
|
|
Principal Activities: |
Manufacturing
and sales of chemicals such as adhesives and
glues, etc |
|
Staff: |
|
|
Listed
at Stock Exchange: |
|
|
Date
of Last Annual Return: |
Subject
was incorporated on 1991-8-19 with registered number 86265134 as Joint
Stock Company in Taiwan.
|
Name |
Subscription
Shares |
|
Qinghu
Ye |
370 |
|
Wanyi Guo |
|
|
6 |
|
|
Xiuzhen
Guo |
728 |
|
Baiyan
Ye |
136 |
The information above is that of subject’s major shareholders.
Core Management
|
1 |
|
|
Name |
Qinghu Ye |
|
Position |
Board Director |
|
2 |
|
|
Name |
Wanyi Guo |
|
Position |
Director |
|
3 |
|
|
Name |
Xiuzhen Guo |
|
Position |
Director |
|
4 |
|
|
Name |
Baiyan Ye |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About
20 Employees |
Offices & Factories
|
|
Headquarters
|
|
Add |
30, Cheng Kung St., Pei Dou Tsun, Ming Hsiung
Hsiang, Chia-Yi Hsien Taiwan R.O.C. |
Production Information
l
Subject is engaged in
manufacturing of chemicals such as adhesives and glues, etc.
l
Subject has a factory
in Taiwan for production.
Purchase Information
l
The registered activities
of subject:
|
Business Code |
Details |
|
-- |
Trading
of chemicals (except highly toxic products) |
|
-- |
Manufacturing
and sales of adhesive and synthetic resin |
|
-- |
Import
and export of above products |
|
-- |
Agent,
price quoting, bidding service of all kinds of above mentioned items |
l
The raw materials for
production are mostly purchased in Taiwan domestic market.
l
Subject is engaged in
sales of chemicals such as adhesives and glues, etc.
l
Subject’s sales
regions include South Africa, America, Europe, and Southeast Asia, etc.
|
|
Type |
|
1 |
Glue
sticks |
|
2 |
Packaging
and bookbinding |
|
3 |
Glue
stick box and card |
|
4 |
Glue
gun |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
(Taiwan)
|
Payment
Terms |
Proportion |
|
|
Raw
materials |
COD,
CBD, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
(Taiwan)
|
Sales
Terms |
Proportion |
|
|
COD, CBD, etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Glue
stick, etc |
CBD,
etc |
100% |
Notes: Subject’s settlement for export is generally in USD
Subject has no obligations to disclose its financial
statements to the third party according to the relevant policy in
Subject’s relevant staff Ms. Lin 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 cannot 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 |
Ms. Lin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.73 |
|
UK Pound |
1 |
Rs.88.61 |
|
Euro |
1 |
Rs.71.34 |
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.