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Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
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Name : |
YIEH CORP. |
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Formerly Known As : |
YTEH CORPORATION |
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Registered Office : |
1F., No.69-6, Jia Shin East Rd., Gangshan
Dist., Kaohsiung City 820 |
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Country : |
Taiwan |
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Date of Incorporation : |
16.12.1997 |
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Com. Reg. No.: |
16122351 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in trading of steel products. |
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No. of Employees : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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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. 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: |
Yieh Corp. |
|
Former Name: |
Yteh Corporation |
|
Supplied Name: |
YIEH CORPORATION LIMITED |
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Trading Address: |
No 6, E-Da Road, Yanchao Dist., Kaohsiung
City, Taiwan, 82445 R.O.C. |
|
Supplied Address: |
No. 6, E-DA Rd., Yanchao Dist., Kaohsiung
City, Taiwan 82445 |
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Telephone Number: |
+886-7-615-1000 |
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Fax Number: |
+886-7-615-3000 |
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E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1997-12-16 with registered number 16122351
as Joint Stock Company in
Taiwan.
Change of Name
|
Former Name |
Yteh Corporation |
|
Current Name |
Yieh Corp. |
|
Name |
Subscription Shares |
|
Yieh Corporation Limited |
7,200,000 |
The information above is that of subject’s major shareholders.
Parent Company
|
Name |
Yieh Corporation Limited |
|
Address |
Hong Kong |
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Date of Registration: |
2003-10-2 |
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Registration Number: |
864030 |
Offices
|
1 |
|
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Name |
Shanghai Office |
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Address |
Room 503, Zhongda Plaza, No. 989 Dongfang Road, Shanghai, China |
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Telephone Number |
+86-21-5108-3606 |
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Fax Number |
+86-21-5820-0941 |
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2 |
|
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Name |
Guangzhou Office |
|
Address |
Room 1010, Nanfang Securities Building,140-148 Tiyu East Road, Tianhe
District, Guangzhou City, Guangdong Province, China |
|
Telephone Number |
+86-20-6281-5501 |
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Fax Number |
+86-20-3887-8070 |
Related Companies
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1 |
|
|
Name |
Yieh United Steel Corp. |
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Address |
No.600, Xinglong St., Jiaxing Vil., Gangshan Dist., Kaohsiung City
82057, Taiwan R.O.C. |
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Telephone Number |
+886-7-623-2255 |
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Fax Number |
+886-7-623-3148 |
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2 |
|
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Name |
Yieh Mau Corp. |
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Address |
No.345, Shunan Rd., Luzhu Dist., Kaohsiung, Taiwan; Kaohsiung City;
Kaohsiung City, Taiwan R.O.C. |
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Telephone Number |
+886-7-696-2255 |
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3 |
|
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Name |
Yieh Hsing Enterprise Co., ltd. |
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Address |
No.369, Baomi Road, Baimi Village, Gangshan District, Kaohsiung City
82053, Taiwan, R.O.C. |
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Telephone Number |
+886-7-611-1111 |
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Fax Number |
+886-7-625-9662 |
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4 |
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Name |
Yieh Phui Enterprise Co., Ltd. |
|
Address |
No. 369, Yuliao Road, Qiaotou District, Kaohsiung City 82544, Taiwan
R.O.C. |
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Telephone Number |
+886-7-611-7181 |
Core Management
Directors
|
1 |
|
|
Name |
Qingguo Wang |
|
Position |
Board Chairman |
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2 |
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|
Name |
Qixiang Xu |
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Position |
Director |
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3 |
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|
Name |
Zhilong Lin |
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Position |
Director |
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4 |
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|
Name |
Yingxue You |
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Position |
Director |
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5 |
|
|
Name |
Sumin Wang |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 100 Employees |
Offices & Factories
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|
Headquarters |
|
Add |
No 6, E-Da Road, Yanchao Dist., Kaohsiung City, Taiwan, 82445 R.O.C. |
Production Information
Subject is engaged in trading of steel products, etc.
It is introduced that subject’s group (E United group) has factories in
Taiwan and Mainland China for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F102030 |
Wholesale of alcohol and tobacco |
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F102040 |
Wholesale of beverage |
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F104110 |
Wholesale of textile, garment, shoes hat, umbrella, accessories |
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F105050 |
Wholesale of furniture, bedding, kitchen utensil, decorations |
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F106010 |
Wholesales of hardware |
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F106020 |
Wholesales of daily supplies |
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F107030 |
Wholesales of cleaning supplies |
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F107170 |
Wholesales of industrial additives |
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F107200 |
Wholesales of chemical material |
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F107990 |
Wholesales of other chemical product |
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F108040 |
Wholesales of cosmetic |
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F109070 |
Wholesales of stationery, musical instrument, recreational supplies |
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F110010 |
Wholesales of clock |
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F110020 |
Wholesales of glasses |
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F111090 |
Wholesales of building materials |
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F112040 |
Wholesales of petroleum product |
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F113010 |
Wholesales of machinery |
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F113020 |
Wholesales of electronic appliance |
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F113030 |
Wholesales of precise instrument |
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F113050 |
Wholesales of computer and office equipment |
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F118010 |
Wholesales of information software |
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I301010 |
Information software services |
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I301020 |
Data processing services |
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I301030 |
Electronic information supply services |
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ZZ99999 |
Besides licensed business, all other business items those are not banned
or restricted. |
Subject’s purchases products from both home and abroad such as Mainland
China, Taiwan and Southeast Asia, etc.
Subject is engaged in sale of steel products, etc.
The major products sold by subject include
stainless steel, carbon steel, coated steel, pipe, tube, bar, aluminum alloy
product, and wire rod, etc.
Subject’s sales regions include Asia, Europe and America, etc.
One of subject’s major customers is Midland Metals International USA
Inc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Steel products |
Interior
Settlement, T/T, etc |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Steel products |
L/C, T/T, etc |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Steel products |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Steel products |
L/C, T/T, 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 Mr. Xie declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
|
Name |
The Hongkong & Shanghai Banking Corp Ltd. |
Note: The supplied bank information was not
confirmed by subject.
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 |
Mr. Xie |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 64.69 |
|
|
1 |
Rs. 100.80 |
|
Euro |
1 |
Rs. 86.30 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
RATING EXPLANATIONS
|
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 |
|
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 |
|
<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.