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Report Date : |
04.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAN CHI INDUSTRIAL CORPORATION |
|
|
|
|
Registered Office : |
1F., 2F., No.30, Lane 66, Rui Guang Rd.,
Neihu District, Taipei City 114 |
|
|
|
|
Country : |
Taiwan |
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|
|
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Date of Incorporation : |
04.06.1953 |
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|
|
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Com. Reg. No.: |
11049705 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· Trader of insulation materials Trader of wireless ransceivers. Trader of RF Remote Control (Besides industry) Processing and trading
of electronic and electrical insulation materials. |
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|
|
|
No. of Employees : |
About 15 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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|
|
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
1F., 2F., No.30,
Lane 66, Rui Guang Rd., Neihu District, Taipei City 114, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2792-5880 |
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Fax Number: |
Notes: The exact name is
as above. We contacted with the subject, the subject introduced the exact
address is as above, but didn’t mention the supplied address.
|
Credit Opinion: |
Subject was incorporated on 1953-6-4 with registered number 11049705 as Joint Stock Company in Taiwan.
|
Name |
Subscription
Shares |
|
Longshun Pan |
100,000 |
|
Rinan Pan |
|
|
43,400 |
|
|
Wenbo Pan |
43,400 |
|
Yanbing Pan |
124,720 |
The information above is that of subject’s major shareholders.
Subject did not introduce whether it has
any subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Core
Management
|
1 |
|
|
Name |
Longshun Pan |
|
Position |
Board Chairman |
|
Date of Appointment |
1999-6-20 |
|
2 |
|
|
Name |
Rinan Pan |
|
Position |
Director |
|
3 |
|
|
Name |
Wenbo Pan |
|
Position |
Director |
|
4 |
|
|
Name |
Yanbing Pan |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 15
Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
1F., 2F., No.30, Lane 66, Rui Guang Rd., Neihu
District, Taipei City 114, Taiwan, R.O.C. |
Production
Information
l
Subject is a trader of insulation materials without
any production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Importing and exporting and agent (Besides licensed business) |
|
2 |
Trading of wireless ransceivers. |
|
3 |
Trading of RF Remote Control (Besides industry) |
|
4 |
Processing and trading of electronic and
electrical insulation materials. |
|
5 |
Importing and exporting business of above
related business. |
|
C805010 |
Manufacturing of plastic skin, cloth, tray
and pipe. |
|
F118010 |
Wholesales of information software. |
|
I601010 |
Renting business. |
|
I301010 |
Servicing of information software. |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
It is introduced that subject imports products from
USA and etc.
l
The subject is mainly engaged in sales of
insulation materials
l
It is introduced that subject’s selling territory
is mainly in Taiwan domestic market.
l
It is introduced that subject’s major customers
manufacturers of labour protection appliances , safety appliances and etc.
l
It is introduced that subject is an agent of the
brand named “Nomex”.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
The subject has
little purchases in domestic market.
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Insulation
materials and etc |
CBD
and etc |
100% |
Sales
Domestic Markets
(Taiwan)
|
Sales
Terms |
Proportion |
|
|
Insulation
materials and etc |
COD,
CBD and etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Insulation
materials 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 Ms. Pan 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. Pan |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
UK Pound |
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.46 |
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.