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Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
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Name : |
CYCLORIA TECHNOLOGY CORPORATION |
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Registered Office : |
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Country : |
Taiwan |
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Date of Incorporation : |
13.03.2012 |
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Com. Reg. No.: |
53745676 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· Trader of telecommunication products and the related products. Electronic products installation Cable installation Computer installation Wholesaler of electronic products. Wholesaler of precious instruments |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 |
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Insignificant |
A1 |
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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 alows 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: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number |
+886 2-2777-5262 |
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E-mail: |
Notes:
The supplied name and address are incomplete, and the exact name and address are as above.
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Credit Opinion: |
Since the subject is a newly established
company, the future development remains to be seen. At this stage credits
require securities. |
Notes:
Subject declined to disclose the staff number, and from other sources, we couldn’t obtain the information, either.
Subject was incorporated
on
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Subscription Shares |
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Zhaoren Lin |
200,000 |
The information above is that of subject’s major shareholders.
Core
Management
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1 |
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Name |
Zheng Yan |
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Position |
Board of Chairman |
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2 |
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Name |
Zhaoren Lin |
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Position |
Director |
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3 |
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Name |
Jialin Sun |
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Position |
Director |
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4 |
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Name |
Peili Gong |
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Position |
Supervisor |
Offices
& Factories
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Headquarters |
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Add |
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Production
Information
l
Subject is a trader of telecommunication products and the related products without any
production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
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E601020 |
Electronic products installation |
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E603010 |
Cable installation |
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E605010 |
Computer installation |
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F113020 |
Wholesale of electronic products. |
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F113030 |
Wholesale of precious instruments |
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F113050 |
Wholesale of computer and the related products |
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F113070 |
Wholesale of electronic components |
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F119010 |
Retails of electronic materials |
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F206010 |
Retails of hardware |
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F401010 |
International trade |
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I301010 |
Software services |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The products are purchased from local and abroad.
Sales
Information
l
The subject is mainly engaged in trading of telecommunication products and the related
products.
l
Subject introduced that
it purchases the products from both local an abroad.
l
The selling territory
covers both local and overseas markets.
l
We tried to interview the
staff Ms. Lin, but she declined to disclose more information about the subject
and said that she wants to know the exact client and the orders which the
client wants to buy first.
Import and export
right:
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Import right |
Yes |
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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 Ms. Lin 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.
|
Name |
Ms. Lin |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.33 |
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UK Pound |
1 |
Rs.100.79 |
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Euro |
1 |
Rs.84.38 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.