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Report Date : |
02.04.2013 |
IDENTIFICATION DETAILS
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Name : |
LIAN RUEY ENTERPRISE CO., LTD. |
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Registered Office : |
No.22, Gongye 5th Rd., Annan District,
Tainan City |
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Country : |
Taiwan |
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Date of Incorporation : |
03.05.1995 |
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Com. Reg. No.: |
89502532 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Processing and sales of frozen seafood, etc |
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No. of Employees : |
About 30 Employees |
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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: |
No.22, Gongye 5th
Rd., Annan District, Tainan City, 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: |
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Website: |
Notes: The exact name and address are as
above.
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Registered Name: |
LIAN RUEY ENTERPRISE CO., LTD. |
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Registered Address: |
No.22, Gongye 5th Rd., Annan
District, Tainan City, Taiwan, R.O.C. |
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Date of Foundation: |
1995-5-3 |
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Registration Number: |
89502532 |
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Registry: |
Tainan City Government |
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Registered Capital: |
(As of 2013.04, 1 NTD = 0.0340 USD) |
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Legal Representatives: |
Lianghui Wu |
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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: |
Subject was incorporated
on 1995-5-3 with registered number 89502532
as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
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Lianghui Wu |
4,000,000 |
|
Longqiao Wu |
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|
1,500,000 |
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|
Yuren Wu |
3,500,000 |
The information above is that of subject’s major shareholders.
Related Company
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Name |
Lian Hung Trade Co., Ltd. |
|
Address |
No.22, Gongye 5th Rd., Annan District,
Tainan City, Taiwan, R.O.C. |
Core Management
Directors
|
1 |
|
|
Name |
Lianghui Wu |
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Position |
Board Chairman |
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2 |
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|
Name |
Longqiao Wu |
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Position |
Director |
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3 |
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Name |
Yuren Wu |
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Position |
Director |
Personnel
Structure
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Total Employees |
About 30 Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
No.22, Gongye 5th Rd., Annan District, Tainan City, Taiwan,
R.O.C. |
Production
Information
Subject is engaged in processing frozen seafood, etc.
Subject has a processing plant in Tainan City, Taiwan.
Subject’s factory obtained the certification of HACCP, EU, FDA and
ISO22000.
It is introduced that subject’s factory can provide ODM service.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
C103050 |
Manufacturing of canned, frozen dehydration, and pickled food |
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F101050 |
Wholesale of aquatic products |
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F102170 |
Wholesale of food and beverage |
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F401010 |
International trade business |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The raw materials for production are purchased
from both home and abroad such as Canada, Chile, and South Africa, etc.
Subject is engaged
in sales of frozen seafood, etc.
Subject’s sales regions include Taiwan
domestic market, mainland China, Japan and other Asian countries, etc.
The general delivery lead time of subject is
about 30~40 days.
Subject has their own brands “Orchid” and
“Dragon”.
Major products
|
Type |
Product |
|
Japanese Cuisine |
Orchid Brand Orchid Clam Sakura Shrimp with Flying Fish Roe Frozen Boiled Sakura Shrimp Orchid Brand Masago (Orange) Orchid Brand Tobiko (Orange) |
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Raw Materials |
Canadian Raw Lobster Tail Meat Canadian Frozen-at-sea Scallops Chilean Locos Canadian Lobster Leg Meat Split Raw Canadian Lobster Canadian Hokkigai Orchid Brand Scallop Canadian Lobster Head Dried Sakura Shrimp |
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Ready-to-Cook |
Cuttlefish Tempura Orchid Brand Seafood Ingot Golden Cuttlefish Roll Golden Shrimp Roll Orchid Brand Seafood Nugget Dragon Brand Cuttlefish Roll Orchid Brand Orchid Clam Dragon Brand Orchid Clam Orchid Brand Sliced Murex Orchid Brand Sliced Conch Orchid Brand Diced Conch Peacock’s Tail Shaped Shark Fin Golden Hill Shark Fin Orchid Brand Shark Fin Vacuumed Shark Fin Swallow Tail Shark Fin Shark Fin Combo Orchid Brand Chicken Stock |
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Ready-to-Eat |
Cuttlefish With Fish Roe Flying Squid With Fish Roe Seasoned Murex Seasoned Scallop Flying Squid in Japanese Style Dressing Collagen Hokkigai Chestnut in Osmanthus Honey Onion White Sauce Shrimp Salad Seasoned Sliced Octopus |
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Heat-to-Eat |
Orchid Brand Oyster Sauce Flavored Locos Orchid Brand Hokkigai Flavored Superior Shark Fin Shark Fin Soup Locos Soup Orchid Brand Scallop and Locos Congee Orchid Brand Oyster Sauce Flavored Conch Orchid Brand Rice Wine Chicken Soup Golden Hill Shark Fin and Locos Soup Chowder Pumpkin Chowder Lobster Stock |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
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Frozen seafood |
T/T, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
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Frozen seafood |
T/T, L/C, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
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Frozen seafood |
T/T, etc |
100% |
Export
|
Sales Terms |
Proportion |
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Frozen seafood |
T/T, L/C, 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 Ms. Wu declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
|
Name |
Chinatrust Commercial Bank West Tainan
Branch |
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Account Number |
222-54034921-6 |
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. Wu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
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Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.