|
Report Date : |
21.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
AKEBONO FORMOSA
CORP. |
|
|
|
|
Registered Office : |
3F, No.2, Lane
53, Sec.2, Ho-Ping East Rd., Daan Dist., Taipei 106 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
28.06.1984 |
|
|
|
|
Com. Reg. No.: |
05632309 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Trading of cooking
materials |
|
|
|
|
No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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: |
AKEBONO FORMOSA
CORP. |
|
Supplied Name: |
Akebono Formosa
Corp |
|
Trading Address: |
3F, No.2, Lane 53,
Sec.2, Ho-Ping East Rd., Daan Dist., Taipei 106, Taiwan, R.O.C. |
|
Supplied Address: |
3F, No 2, Lane 53,
Sec 2 Heping East Road Taipei Taiwan |
|
Telephone Number: |
+886-2-2755-0219 |
|
Fax Number: |
+886-2-2706-1535 |
The exact name and
address are as above.
|
Registered Name: |
Akebono Formosa
Corp. |
|
Registered
Address: |
3F, No.2, Lane 53,
Sec.2, Ho-Ping East Rd., Daan Dist., Taipei 106, Taiwan, R.O.C. |
|
Date of
Foundation: |
1984-6-28 |
|
Registration
Number: |
05632309 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
(As of 2013.12, 1
NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 22,000,000
(USD 737,000) |
|
Legal
Representatives: |
Ruixiang Lu |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1984-6-28 with registered number 05632309 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Ruixiang Lu |
350,000 |
| Qingquan Lv |
350,000 |
|
Jiyun Lv |
552,000 |
|
Jiaying Lv |
220,000 |
The information above is that of subject’s major shareholders.
Subject
declined to disclose its bank details; from other source we cannot obtain the
relevant information, either.
Core Management
Directors
|
1 |
|
|
Name |
Ruixiang Lu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Qingquan Lv |
|
Position |
Director |
|
3 |
|
|
Name |
Jiyun Lv |
|
Position |
Director |
|
4 |
|
|
Name |
Jiaying Lv |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 20 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
3F, No.2, Lane 53, Sec.2, Ho-Ping East Rd., Daan Dist., Taipei 106, Taiwan, R.O.C. |
Production Information
Subject is a trader of cooking materials and etc without any production activities
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F102020 |
Wholesales of eatable oil and fat. |
|
F102040 |
Wholesales of drinks. |
|
F102050 |
Wholesales of tea. |
|
F102170 |
Wholesales of food and miscellaneous goods. |
|
F102180 |
Wholesales of ethanol. |
|
F107990 |
Wholesales of other chemical products. |
|
F108021 |
Wholesales of western medicine. |
|
F108040 |
Wholesales of cosmetics. |
|
F203010 |
Retails of drinks, food and miscellaneous goods. |
|
F203030 |
Retails of ethanol. |
|
F207990 |
Retails of other chemical products. |
|
F208021 |
Retails of western medicine. |
|
F208040 |
Retails of cosmetics. |
|
F208050 |
Retails of medicine for Class-B. |
|
F401010 |
International trading business. |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
It is introduced that subject purchases its products both at home and abroad.
It is introduced that subject imports some products from Japan, Europe (such as France and Italy), USA and etc.
Major Suppliers
|
1 |
|
|
Name: |
Grozette B.V. |
|
Address: |
Ohmweg 13 -
Postbus 59 - 3440AB Woerden (Holland) |
|
Tel |
+31 (0)348 - 41 02
64 |
|
Fax |
+31 (0)348 - 42 36
86 |
|
2 |
|
|
Name: |
Werhahn Bakery
Products (Shanghai) Co., Ltd |
|
Address: |
No. 424 Sanlin
Road, Pudong New Area, Shanghai 200124 P.R. China |
|
Tel |
+86 21 6089 9071 |
|
Fax |
+86 21 5084 8871 |
|
3 |
|
|
Name: |
Grupo Ybarra
Alimentación S.L. |
|
Address: |
Ctra Isla Menor,
km. 1,8 – 41703 Dos Hermanas, Seville (España) |
|
Tel |
+34-902 014 555 |
|
4 |
|
|
Name: |
|
|
Address: |
P.O. Drawer 1030
New Iberia, LA 70562-1030 USA |
|
Tel |
+1-337-365-8101 |
|
Fax |
+1-337-369-9026 |
|
5 |
|
|
Name: |
Bon Appetit
Management Company |
|
Address: |
100 Hamilton
Avenue, Suite 400 Palo Alto, CA 94301 |
|
Tel |
+1-(650) 798-8000 |
|
Fax |
+1-(650) 798-8090 |
|
6 |
|
|
Name: |
Bob’s Red Mill
Natural Foods. |
|
Address: |
13521 SE Pheasant
Ct Milwaukie, OR 97222 |
|
Tel |
+1-(503) 654-3215 |
|
7 |
|
|
Name: |
Highland
Sugarworks, Incorporated |
|
8 |
|
|
Name: |
Nordic Ware |
|
Address: |
5005 Highway 7
Minneapolis, MN 55416-2274 US |
The subject is mainly engaged in sales of cooking materials and etc.
It is introduced that subject’s selling territory is both at home and abroad.
It is introduced that subject’s major customers are direct customers, bakery and confectionery and etc.
It is introduced that subject is selling many brands, such as “Unipan”, “YBARRA”, “LACO”, “BOW APPETT”, “KOMPLET”, “Cortijio angulo 1780”, “Bob’s Red Mill”, “NORDIC WARE” and etc.
Major Products
|
Product |
Details |
|
Bakery ingredients. |
Fermipan Instant Dry Yeast (Red/ Brown) Fermipan Instant Dry Yeast (Super/Soft), contained enzyme Unipan Plus BRF (Bread Improver) MM-100 ( steam bun improver) Man-Super |
|
Olive oil, other edible oils |
Extra Virgin Olive Oil (1L/Bottle) Pure Olive Oil (1L/Bottle ; 2L/Bottle) Pure Olive Oil (3L/Tin) Pure Olive Oil (5L/Tin) Organic Extra Virgin Olive Oil new*(0.5L/Bottle) |
|
Food Products |
Laco Pepper Mill: 5 Peppercorns Grinder 5 Peppercorns Grinder Refill Pack White Pepper Whole Grinder White Pepper Whole Grinder Refill Pack Blac Pepper Whole Grinder Black Pepper Whole Grinder Refill Pack |
|
Laco Seasoning: Black Pepper Ground White Pepper Ground Cumin Ground Cinnamon Ground Curry Powder Saffron Ground Paella Seasoning Barbecue Seasoning Nutmeg Ground Mustard Seed (Yellow) |
|
|
Laco Potherb: Laco Oregano Laco Basil Laco Bay Leaves Laco Parsley Flakes Laco Rosemary Laco Herbes De Provence |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Cooking materials and etc |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Cooking materials and etc |
CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Cooking materials and etc |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Cooking materials and etc |
COD, 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. Lu 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. Lu |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.101.81 |
|
Euro |
1 |
Rs.84.88 |
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.