|
Report Date : |
05.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
VERMEER
INTERNATIONAL CO., LTD. |
|
|
|
|
Registered Office : |
1F, No.301, Son
Der Rd., Taipei |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
25.10.1999 |
|
|
|
|
Com. Reg. No.: |
70447428 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and
sales of fire protection equipment |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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: |
VERMEER
INTERNATIONAL CO., LTD. |
|
Supplied Name: |
VERMEER INTL CO
LTD. |
|
Trading Address: |
5F., No.47, Ln.
220, Wende Rd., Neihu Dist., Taipei City 114, Taiwan R.O.C. |
|
Supplied Address: |
5F No. 47 Lane 220
Wende Road Neihu Taipei City |
|
Telephone Number: |
+886-2-8791-8318 |
|
Fax Number: |
+886-2-8791-8319 |
|
E-mail: |
The exact name and
address are as above.
|
Registered Name: |
Vermeer
International Co., Ltd. |
|
Registered
Address: |
1F, No.301, Son
Der Rd., Taipei, Taiwan, R.O.C. |
|
Date of
Foundation: |
1999-10-25 |
|
Registration
Number: |
70447428 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
(As of 2013.12, 1
NTD = 0.0339 USD) |
|
Legal
Representatives: |
Chunling Zheng |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject’s relevant staff declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
Subject was incorporated on 1999-10-25 with registered number 70447428 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Chunling Zheng |
300,000 |
The information above is that of subject’s major shareholders.
Core Management
Directors
|
Name |
Chunling Zheng |
|
Position |
Director |
Offices & Factories
|
|
Headquarters |
|
Add |
5F., No.47, Ln. 220, Wende Rd., Neihu Dist., Taipei City 114, Taiwan R.O.C. |
Production Information
Subject is engaged in manufacturing of fire protection equipment, etc.
Subject has factory in Taiwan for production but subject’s relevant staff decline to disclose its relevant information.
It is introduced the products sold by subject has obtained the certification of ISO9001.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F401010 |
The international trade |
The components and raw material for production are mostly
purchased in domestic markets.
The subject is mainly engaged in sales of fire protection equipment, etc.
The major products sold by subject include Concealed Sprinkler, Concealed Sprinkler, Conventional, Flush Sprinkler, LED Emergency Light, Pendent Sprinkler, Ressed Pendent Sprinkler, Sidewall Sprinkler, etc.
The subject sales
regions include Asia, America, Europe, etc.
Subject’s main
customer is Thermafit Industries, Inc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components and raw material |
Cash, T/T, etc |
100% |
Foreign Purchase
Subject has little import.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Fire protection equipment, etc. |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Fire protection equipment, etc. |
L/C, 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. Zheng declined to disclose its financials citing the grounds of
company’s confidentiality; from other source we can not 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. Zheng |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
|
1 |
Rs.102.18 |
|
Euro |
1 |
Rs.84.68 |
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.