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Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
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Name : |
Pacific K&S Corporation |
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Registered Office : |
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Country : |
Taiwan |
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Date of Incorporation : |
28.04.1990 |
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Com. Reg. No.: |
23645989 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Import of science and technology industrial
equipment and the related products. |
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No. of Employees : |
About 20 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
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: |
+886-7-711-1108 |
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Fax Number: |
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E-mail: |
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Credit Opinion: |
Subject was incorporated on
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Subscription
Shares |
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Fengquan Wang |
4,232,931 |
|
Rongcong Wang |
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740,000 |
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Ronghong Wang |
261,534 |
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Meizhen Chen |
700,000 |
The information above is that of subject’s major shareholders.
Directors
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1 |
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Name |
Fengquan Wang |
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Position |
Board of
Chairman |
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2 |
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Name |
Rongcong Wang |
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Position |
Director |
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3 |
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Name |
Ronghong Wang |
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Position |
Director |
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4 |
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Name |
Meizhen Chen |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 20 Employees |
Offices & Factories
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Headquarters |
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Add |
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Production Information
· Subject is a importer of science and technology industrial equipment and the related products without any production activities
Purchase Information
· The registered activities of subject:
|
Business Code |
Details |
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E604010 |
Installation |
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E701010 |
Telecommunication Industry |
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F113010 |
Wholesale of machine |
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F113020 |
Wholesale of electrical equipment |
|
F206010 |
Retail of hardware |
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F401010 |
International trade |
|
JA02010 |
Repair of electrical equipment |
· The productions are mostly purchased from abroad.
Subject is mainly engaged in
importing and trading of science
and technology industrial equipment and the related products.
Subject
introduced that its Major products sold as following:
|
Product |
Sales Region |
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Electrical Equipment |
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Industrial Equipment |
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Monitoring Equipment |
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Measuring instruments |
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Pneumatic Hydraulic Equipment |
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Others |
· Subject introduced that some brands of the products, such as Trench, Motortronics, Duct-O-Wire, Woodward, Lenze and so on.
Subject
introduced that it is the agent of products of GINO AG, MAGNEMAG and GE.
Subject
introduced that the products are mainly imported from Europe and America.
Subject’s
selling territory mainly covers the domestic market, the mainland of China and
part of Asia.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
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. Chen declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
The bankers’ information is not available from the subject or other
sources.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
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1 |
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Lawsuit Number |
100,Xionglaojian,7 |
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Lawsuit Date |
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Lawsuit Cause |
Payment of
severance pay, etc. |
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2 |
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Lawsuit Number |
98,Xiongjian,863 |
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Lawsuit Date |
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Lawsuit Cause |
Pay off debts |
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3 |
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Lawsuit Number |
97,Xiongbu,2232 |
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Lawsuit Date |
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Lawsuit Cause |
Pay off debts |
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Name |
Ms. Chen |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
-- |
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.