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Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
CYCLORIA TECHNOLOGY CORPORATION |
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Registered Office : |
9f.-3, No. 1, Fuxing North Road, Songshan District, Taipei City 10595 |
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Country : |
Taiwan |
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Date of Incorporation : |
13.03.2012 |
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Com. Reg. No.: |
53745676 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
TAIWAN |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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. 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 10.7%,
as exports returned to the level of previous years, and in 2011, grew 4.0%. 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 fifth
largest, behind China, Japan, Saudi Arabia, 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
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Company Name: |
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|
Supplied Name: |
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Supplied Address: |
Notes:
The supplied name is incomplete, and the exact name is as above.
According to the supplied name and address, we found a
telephone number and fax number (+886 02-87510809,
02-87510788), we tried many times, but there’s nobody answered the phone.
And we could not find other contact methods of subject.
We tried to obtain
the subject’s information, such as the operation information, settlement
information, but we failed.
We found subject’s
registration information as follows for reference.
|
Registered Name: |
Cycloria Technology Corporation |
|
Registered Address: |
|
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Date of Foundation: |
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Registration Number: |
53745676 |
|
Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2013.8, 1 NTD = 0.03336 USD) |
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Paid-up Capital: |
NTD 10,000,000 (USD 333,585) |
|
Legal Representatives: |
Zheng Yan |
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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: |
Since we could not contact the subject directly, the principal activity
and staff
number are not available from the subject or other sources.
Subject was incorporated on
|
Subscription Shares |
|
|
Zhaoren Lin |
200,000 |
The information above is that of subject’s
major shareholders.
Core
Management
Directors
|
1 |
|
|
Name |
Zheng Yan |
|
Position |
Board of
Chairman |
|
2 |
|
|
Name |
Zhaoren Lin |
|
Position |
Director |
|
3 |
|
|
Name |
Jialin Sun |
|
Position |
Director |
|
4 |
|
|
Name |
Peili Gong |
|
Position |
Supervisor |
Offices
& Factories
|
|
Registered Add |
|
Add |
|
Operation
Information
We contacted the subject unsuccessfully.
We obtained the registered activities of the subject as follows for
reference.
l
The registered activities of subject:
|
Business Code |
Details |
|
E601020 |
Electronic products installation |
|
E603010 |
Cable installation |
|
E605010 |
Computer installation |
|
F113020 |
Wholesale of electronic products. |
|
F113030 |
Wholesale of precious instruments |
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F113050 |
Wholesale of computer and the related products |
|
F113070 |
Wholesale of electronic components |
|
F119010 |
Retails of electronic materials |
|
F206010 |
Retails of hardware |
|
F401010 |
International trade |
|
I301010 |
Software services |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
Import and export
right:
|
Import right |
Yes |
|
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.
And we couldn’t contact the subject successfully; the financial
information is not available from the subject.
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.
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.81.70 |
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.