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Report Date : |
03.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
FIRST LIGHT ENTERPRISES CO., LTD. |
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|
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Registered Office : |
9FL., No. 132, Lin Sen N. Rd., Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
18.08.1983 |
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Com. Reg. No.: |
20990249 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of chemical products including solvent dyes, organic pigments, inorganic pigments, fluorescent pigments, pearl pigments, phosphorescent pigments, iron oxide pigments, ultramarine pigments, carbon black, titanium dioxide and additives including photo initiator, UV absorber, antioxidant, antistatic agent, slip agent for applying to plastics, coating, and printing ink |
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|
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No. of Employees : |
About 7 Employees. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
TATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 10.7%, 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 |
|
Company Name: |
First Light Enterprises Co., Ltd. |
|
Supplied Name: |
FIRST LITE ENTERPRISE CO LTD |
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Trading Address: |
No. 198, Lane 190, Dianyan Road, Yangmei City, Taoyuan County 32661,
Taiwan |
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Supplied Address: |
NO.198, LANE 190,DIANYAN ROAD |
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Telephone Number: |
+886-3-490-0701 |
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Fax Number: |
+886-3-490-0703 |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1983-8-18 with registered number 20990249 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Congrou Xiao |
38,250,000 |
The information
above is that of subject’s major shareholders.
Factory
|
Address: |
No.256, Aly.
63, Lane 551, Sec. 5, Minzu Rd., Yangmei City, Taoyuan County, Taiwan
(R.O.C.) |
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Date of Registration: |
2011-12-27 |
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Factory Registration Number: |
03000851 |
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Factory Manager: |
Congrou Xiao |
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Status: |
In Production |
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Date of Last Annual Return: |
2011-12-27 |
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Major Products: |
184 Synthetic
resin, thermosetting plastic and rubber. |
Core
Management
|
Name |
Congrou Xiao |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 7 Employees. |
Offices
& Factories
|
|
Headquarters |
|
Add |
No. 198, Lane 190, Dianyan Road, Yangmei City, Taoyuan County 32661,
Taiwan |
Production
Information
l
Subject is a manufacturer of chemical products.
l
It is introduced that subject has a factory in
Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
Manufacturing of reinforced plastic products. |
|
|
C805990 |
Manufacturing of other plastic and rubber
products. |
|
F107010 |
Wholesales of coating and vehicle. |
|
F107020 |
Wholesales of dye and pigment. |
|
F107170 |
Wholesales of industrial assistant. |
|
F107200 |
Wholesales of chemical materials. |
|
F107990 |
Wholesales of other chemical products. |
|
F207010 |
Retails of coating and vehicle. |
|
F207020 |
Retails of dye and pigment. |
|
F207170 |
Retails of industrial assistant. |
|
F207200 |
Retails of chemical materials. |
|
F207990 |
Retails of other chemical products. |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
It is introduced that subject purchases raw
materials and some chemical products both at home and abroad.
l
The subject is mainly engaged in sales of chemical
products
l
It is introduced that subject’s major products
include solvent dyes, organic pigments, inorganic pigments, fluorescent
pigments, pearl pigments, phosphorescent pigments, iron oxide pigments,
ultramarine pigments, carbon black, titanium dioxide and additives including
photo initiator, UV absorber, antioxidant, antistatic agent, slip agent for
applying to plastics, coating, and printing ink
l
It is introduced that subject’s selling territory
covers all over the world.
l
It is introduced that subject’s major customers
are manufacturers of textiles and etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
(Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Raw materials,
chemical products and etc |
COD, CBD and
etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
chemical products and etc |
CBD and etc |
100% |
Sales
Domestic Markets
(Taiwan)
|
Sales Terms |
Proportion |
|
|
Chemical
products and etc. |
COD, CBD and
etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Chemical
products and etc. |
CBD and 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. Dong 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 |
Mr. Dong |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.23 |
|
UK Pound |
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.64 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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.