|
Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOODTIRE RUBBER INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
Room 806, 8F., S.S. Bldg. No.432, Keelung Rd., Sec.1, Taipei |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
03.04.1978 |
|
|
|
|
Com. Reg. No.: |
30855030 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of rubber inner tires products, etc |
|
|
|
|
No. of Employees : |
About 2,000
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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. 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 1.8%, due
primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.8%,
as exports returned to the level of previous years, and in 2011, grew 4.1%. In
2012, however, growth fell to 1.3%, 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 except for the landmark Economic Cooperation
Framework Agreement (ECFA) signed with China in June 2010, so far Taiwan has
been excluded from this greater economic integration in part because of its
diplomatic status. Negotiations continue on such follow-on components of ECFA
regarding trade in goods and services. The MA administration has said that the
ECFA will serve as a stepping stone toward trade pacts with other key trade
partners, which Taiwan subsequently launched with Singapore and New Zealand.
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 11.2% of the island's
total population as of 2012. The island runs a large trade surplus largely
because of its surplus with China, and its foreign reserves are the world's
fourth largest, behind China, Japan, and Russia. In 2006 China overtook 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.
In August 2012, Taiwan Central Bank signed a memorandum of understanding on
cross-Strait currency settlement with its Chinese counterpart. The MOU allows
for the direct settlement of Chinese RMB and the New Taiwan dollar across the
Strait, which could help develop Taiwan into a local RMB hub. 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: |
Room 806, 8F., S.S. Bldg. No.432, Keelung Road., Sec.1, Taipei, Taiwan
R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are above.
|
Credit Opinion: |
|
Registered Name: |
Goodtire Rubber Industrial Co., Ltd. |
|
Registered Address: |
Room 806, 8F., S.S. Bldg. No.432, Keelung Rd., Sec.1,
Taipei, Taiwan R.O.C. |
|
Date of Foundation: |
1978-4-3 |
|
Registration Number: |
30855030 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 345,633,750
(USD 11,544,600) (As of 2013.04, 1 NTD = 0.0334 USD) |
|
Paid-up Capital: |
NTD 345,633,750 (USD 11,544,600) |
|
Legal Representatives: |
Zonglu Hong |
|
Legal Form: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last Annual
Return: |
Subject was incorporated on 1978-4-3 with registered
number 30855030 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Zonglu Hong |
7,713,613 |
|
Guoming Hong |
|
|
4,694,618 |
|
|
Zongkui Hong |
3,514,412 |
|
Bilian Tian |
3,456,337 |
|
Wuying Cai |
1,905,750 |
|
Jian Zhang |
1,142,934 |
|
Qingxiang Liu |
808,500 |
The information
above is that of subject’s major shareholders.
Factory
|
Name: |
Changhua Factory |
|
Address |
No. 336, Yuanji
Road, Yuanlin Town, No. 521, Changhua County, Taipei |
|
Telephone Number |
+886-4-872-9656 |
|
Fax Number |
+886-4-872-9659 |
Related Companies
|
1 |
|
|
Name |
Goodtire Rubber Industry
Co., Ltd.(Zhangjiagang Factory) |
|
Port Avenue Office, Fenghuang Town, Zhangjiagang,
Jiangsu, China |
|
|
Telephone Number |
+86-512-5848-5307 |
|
Fax Number |
+86-512-5848-0582 |
|
2 |
|
|
Name |
Goodtire Rubber
Industry Co., Ltd.(Vietnam) |
|
Address |
Ap Tram Vang, Xa
Thanh Phuoc, H.Go Dau, T.Tay Ninh, Vietnam |
Core
Management
Directors
|
1 |
|
|
Name |
Zonglu Hong |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zongkui Hong |
|
Position |
Director |
|
3 |
|
|
Name |
Qingxiang Liu |
|
Position |
Director |
|
4 |
|
|
Name |
Guoming Hong |
|
Position |
Director |
|
5 |
|
|
Name |
Wuying Cai |
|
Position |
Director |
|
6 |
|
|
Name |
Bilian Tian |
|
Position |
Supervisor |
|
7 |
|
|
Name |
Jian Zhang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 2,000 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Room 806, 8F.,
S.S. Bldg. No.432, Keelung Road., Sec.1, Taipei, Taiwan R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of rubber inner
tires products, etc.
l
Subject has a factory in Changhua County, Taipei
City, Taiwan for production.
l
It is introduced that
subject can provide OEM service.
l
Subject obtained the certification of ISO 9002.
Purchase
Information
l
The registered activities of subject:
|
1 |
Manufacturing and trade business of rubber tires,
rubber
products, and rubber industrial products |
|
2 |
Import and export trade business (except for the
futures) |
l
It is introduced that the rubbers and raw materials
for production are mostly purchased from the overseas market.
l
Subject is mainly engaged in sales of rubber inner
tires products, etc.
l
It is introduced that subject’s products are
mainly applied to Automobile Industry, etc.
l
It is introduced that subject’s selling territory
covers all over the world.
l
Subject’s major customers
are “Bridgestone”, “Pirelli”, “Goodyear”, and “Michellin”, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little
domestic purchase.
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Rubber and raw
materials |
CBD, etc |
100% |
Sales
Domestic Markets
(Taiwan)
|
Sales Terms |
Proportion |
|
|
Rubber inner
tires products |
CBD, COD,
etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Rubber inner
tires products |
CBD, 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. Li 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. Li |
|
Position |
Staff |
|
Department |
Sales Department |
|
E-mail |
michael@goodtire.com.tw |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.94 |
|
|
1 |
Rs.82.76 |
|
Euro |
1 |
Rs.71.04 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.