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Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
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Name : |
JIING SHIN ENTERPRISE CO., LTD. |
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Registered Office : |
No.1, Lane 175, Long Cherng Rd., Fengshan Dist., Kaohsiung City 830 |
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Country : |
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Date of Incorporation : |
22.01.1987 |
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Com. Reg. No.: |
22383071 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture and sales of packaging products |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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: |
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Supplied Address: |
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Telephone Number: |
+886-7-787-4716 |
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Fax Number: |
+886-7-787-3660 |
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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: |
Jiing Shin Enterprise Co., Ltd. |
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Registered Address: |
No.1, Lane 175, Long Cherng Rd., Fengshan Dist., Kaohsiung City 830,
Taiwan (R.O.C.) |
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Date of Foundation: |
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Registration Number: |
22383071 |
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Registry: |
Economic Development Bureau, Kaohsiung City |
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Registered Capital: |
(As of 2012.09, 1 NTD = 0.0337 USD) |
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Legal Representatives: |
Xiuxia Shen |
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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 did not introduce its staff number;
from other source we can not obtain the relevant information, either.
Subject was incorporated on
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Name |
Subscription Amount |
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Xiuxia Shen |
900,000 |
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Shunfa Su |
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2,700,000 |
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Qingshun Shen |
2,000,000 |
The information
above is that of subject’s major shareholders.
Office and Related
Company
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Branch Office TriPak Pte Ltd Crown Logistics Ltd.
USA Grayling Industries |
It is introduced
that subject’s factory is in Kaohsiung, but the details are not disclosed.
Core
Management
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1 |
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Name |
Xiuxia Shen |
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Position |
Board Chairman |
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2 |
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Name |
Shunfa Su |
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Position |
Director |
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3 |
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Name |
Qingshun Shen |
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Position |
Director |
Offices
& Factories
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Headquarters |
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Add |
Production
Information
l
Subject is a manufacturer of packaging products.
Purchase
Information
l
The registered activities of subject:
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Manufacture, processing, import, export and sales
of all kinds of paper, paper container and paper box, etc |
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General import and export trading business Besides licensed business |
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Price quoting, bidding and sales business of the
above mentioned items for domestic and overseas customers |
l
Subject did not introduce its purchasing details,
while it is introduced that part of subject’s products are made from reclaimed waste
paper.
l The subject is
mainly engaged in sales of packaging products including 1 ton loading liquid
cartons, paper pallets, etc
l
Subject’s products are applied to the storage of
both solid and liquid products including chemicals
(Chemical Adhesives, Cleaners, Coolant, Emulsions, Inks, Latex, Lubricants,
Oils & Greases, Shampoo& Detergents, Epoxy Resins.) and food (Food
Sauce, Beverages Concentrates, Buttermilk, Citrus Juice, Edible Oils, Milk
Products, Sour Cream, Soy Products, Sweeteners, Vinegar, Glucose.), etc
l
Subject’s products are both sold in domestic and
overseas market.
Major items
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Items |
Applications |
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Paperibc Liquid |
For bulk liquid storage and could replace
traditional storages such as steel or plastic drums, returnable totes and
bottle-in-cage IBCs |
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Paperibc Solid |
For the replacements of
less efficient packaging |
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Corrugated Paper Pallet |
For exporting products
to USA and Europe, etc |
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Others |
Paper box, color paper
box and Paper sets, etc |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Subject did not introduce
its purchasing terms
Sales
Domestic Markets
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Sales Terms |
Proportion |
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Packaging
products |
CBD, etc |
100% |
Export
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Sales Terms |
Proportion |
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Packaging
products |
CBD, etc |
100% |
Notes: It is introduced that the detailed settlement is to be negotiated.
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.
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Position |
Operator |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.53.29 |
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1 |
Rs.86.43 |
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Euro |
1 |
Rs.68.95 |
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 |
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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.