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Report Date : |
04.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
YUMBO INDUSTRIAL
CORPORATION |
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|
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Registered Office : |
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Country : |
Taiwan |
|
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Date of Incorporation : |
27.08.1980 |
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Com. Reg. No.: |
12294162 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Trading of earthnut |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
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 – 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 |
|
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: |
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|
Trading Address: |
Wuku Industrial Park 53 Wu Chuan Rd Wuku Hsiang Taipei Hsien 248,
Taiwan, R.O.C |
|
Supplied Address: |
Wuku Industrial Park 53 Wu Chuan Rd Wuku Hsiang Taipei Hsien 248 |
|
Telephone Number: |
|
|
Fax Number: |
The supplied name is
incomplete, and the exact name is as above.
The supplied website
www.flavor.com.tw
doesn’t belong to the subject, it belongs to a company named Flavor Full.
|
Registered Name: |
Yumbo Industrial
Corporation |
|
Registered
Address: |
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Date of
Foundation: |
|
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Registration
Number: |
12294162 |
|
Registry: |
New Taipei City
Government |
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Registered
Capital: |
(As of 2013.12, 1
NTD = 0.03204 USD) |
|
Legal
Representatives: |
Jiongyu Chen |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject declined to disclose the staff number, and from other sources, we couldn’t obtain the information, either.
Subject
was incorporated on
|
Name |
Subscription Amount |
|
Jiongyu Chen |
500,000 |
The information above is that of subject’s major shareholders.
Factory:
|
Factory
Registration Number: |
99646782 |
|
Address: |
No.53, Section 2
Fang, Fanghan Road, Fangyuan Town, Fangyuan Village, Zhanghua County, Taiwan,
R.O.C |
|
Date of
Foundation: |
|
|
Date of Last Annual Return: |
2012-121-0 |
|
Representatives: |
Jiongyu Chen |
|
Category |
Manufacture of
food |
|
Main Products: |
084 Edible fat 086 Grind grain,
flour and starch products |
From the registered file, we found that the subject registered a factory, but the staff of the subject declined to confirm whether it has the factory or not.
Core Management
Directors
|
Name |
Jiongyu Chen |
|
Position |
Board Chairman |
Offices & Factories
|
|
Headquarters |
|
Add |
No. 53, Wu-Chuan Rd., Wugu Dist., New Taipei City 248, Taiwan (R.O.C.) |
Production Information
Subject is a trader of earthnut without any production activities
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
A102060 |
Trade of grain |
|
C199040 |
Manufacture and process of beans |
|
F101050 |
Wholesale of seafood |
|
F102170 |
Wholesale of food products |
|
F102020 |
Wholesale of edible fat |
|
F104110 |
Wholesale of cloth, shoes, hats and umbrella |
|
F106010 |
Wholesale of hardware |
|
F106020 |
Wholesale of daily products |
|
F109070 |
Wholesale of instrument and sports products |
|
F201010 |
Retail of agriculture products |
|
F201030 |
Retail of seafood |
|
F203010 |
Retail of food and beverage |
|
F204110 |
Retail of cloth, shoes, hat and umbrella |
|
F206010 |
Retail of hardware |
|
F206020 |
Retail of daily products |
|
F209060 |
Retail of instrument and sports products |
|
F401010 |
International trade |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The earthnuts are purchased from local Taiwan.
The subject is mainly engaged in trading of earthnut.
Subject introduced that it only trades the earthnut.
Subject introduced that the selling territory only covers domestic market, no export.
Subject declined to disclose more information about subject.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Subject declined to disclose the settlements information, and from other sources, we couldn’t obtain the information, either.
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. 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.
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Position: |
Sales |
Note:
A lady answered the phone,
and confirm the general information, but declined to disclose more detail, even
E-mail.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.46 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.