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Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
BAO SONG PRECISION
INDUSTRY CO., LTD. |
|
|
|
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Registered Office : |
No.21, Chang Tay
Street, Sheau Kang (Lin-Hae Industrial Zone) Kaohsiung |
|
|
|
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Country : |
Taiwan |
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|
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Date of Incorporation : |
03.07.1986 |
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|
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Com. Reg. No.: |
22148409 |
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|
|
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Legal Form : |
Joint Stock
Company |
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|
|
|
Line of Business : |
Manufacturing and
sale of blinds and blinds components |
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|
|
|
No. of Employees : |
60 |
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 |
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Payment Behaviour : |
Slow but correct |
|
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
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Company Name: |
|
|
Supplied Name: |
|
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Trading Address: |
No.25, Chang Tay Street, Sheau Kang (Lin-Hae Industrial Zone) Kaohsiung
Taiwan R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-7-871-6356 |
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Fax Number: |
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E-mail: |
The exact name and
address are as above.
|
Registered Name: |
Bao Song Precision
Industry Co., Ltd. |
|
Registered
Address: |
No.21,
Chang Tay Street, Sheau Kang (Lin-Hae Industrial Zone) Kaohsiung Taiwan
R.O.C. |
|
Date of
Foundation: |
1986-7-3 |
|
Registration
Number: |
22148409 |
|
Registry: |
Economic
Development Board of Kaohsiung City Government |
|
Registered
Capital: |
NTD 30,000,000 (USD 1,020,000) (As of 2013.12, 1
NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 30,000,000
(USD 1,020,000) |
|
Legal
Representatives: |
Yueran Caiwu |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1986-7-3 with registered number 22148409 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Yueran Caiwu |
2,500 |
|
Zhenming Wu |
|
|
1,500 |
|
|
Wenyu Wu |
8,700 |
|
Ailing Wu |
4,300 |
The information above is that of subject’s major shareholders.
Factories
|
1 |
|
|
Address: |
No.21, Chang Tay Street, Sheau Kang (Lin-Hae Industrial Zone) Kaohsiung Taiwan R.O.C. |
|
Date of
Foundation: |
1986-8-7 |
|
Date of
Registration: |
1987-2-11 |
|
Factory
Registration Number: |
64004122 |
|
Factory Manager: |
Yueran Caiwu |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2002-3-4 |
|
Major Products: |
220 plastic product |
|
2 |
|
|
Name: |
The 2nd Factory |
|
Address: |
No.25, Chang Tay Street, Sheau Kang (Lin-Hae Industrial Zone) Kaohsiung Taiwan R.O.C. |
|
Date of
Foundation: |
1985-7-31 |
|
Date of
Registration: |
1985-12-29 |
|
Factory
Registration Number: |
64005128 |
|
Factory Manager: |
Yueran Caiwu |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2004-10-19 |
|
Major Products: |
271 computer and peripheral equipment 269 other electronic components 263 printed circuit board 274 data storage media 293 general machinery 251 metal hand tool and mould 273 audio-visual products 332 medical equipment |
Core Management
Directors
|
1 |
|
|
Name |
Yueran Caiwu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zhenming Wu |
|
Position |
Director |
|
Date of Appointment |
2006-1-6 |
|
3 |
|
|
Name |
Wenyu Wu |
|
Position |
Director |
|
4 |
|
|
Name |
Ailing Wu |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 60 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.25, Chang Tay Street, Sheau Kang (Lin-Hae Industrial Zone) Kaohsiung Taiwan R.O.C. |
Production Information
Subject is engaged in manufacturing of blinds and blinds components, etc.
Subject has two factories in Kaohsiung City, Taiwan for production.
It is introduced that subject also provides printed circuit board assembling service.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C805010 |
Manufacturing of plastic skin, cloth, board and tube |
|
C805030 |
Manufacturing of plastic daily necessities |
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C805050 |
Manufacturing of industrial plastic products |
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C805990 |
Manufacturing of other plastic products |
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CC01030 |
Manufacturing of electric appliance and audio-visual products |
|
CC01060 |
Manufacturing of wire communication equipment |
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CC01070 |
Manufacturing of wireless communication equipment |
|
CC01080 |
Manufacturing of electronic components |
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CC01110 |
Manufacturing of computer and peripheral equipment |
|
CC01990 |
Manufacturing of other electrical machine and electronic appliances |
|
CN01010 |
Manufacturing of furniture and decoration |
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CQ01010 |
Manufacturing of mould |
|
E801010 |
Interior decorating businesses |
|
E801020 |
Installation of window and door |
|
F105050 |
Wholesale of furniture, bedding, kitchen utensil and decoration |
|
F106010 |
Wholesale of ironware |
|
F106020 |
Wholesale of daily supplies |
|
F106030 |
Wholesale of mould |
|
F107030 |
Wholesale of cleaning supplies |
|
F107200 |
Wholesale of chemicals |
|
F107990 |
Wholesale of other chemical products |
|
F111090 |
Wholesale of building materials |
|
F113020 |
Wholesale of electric appliance |
|
F119010 |
Wholesale of electronic material |
|
F199990 |
Wholesale of other products |
|
I501010 |
Product design |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
|
E605010 |
Installation of computer |
|
CF01011 |
Manufacturing of medical equipment |
|
F108031 |
Wholesale of medical equipment |
|
F108040 |
Wholesale of cosmetic |
|
F401010 |
International trade business |
The components and raw materials for production are mostly purchased in domestic market.
Subject is engaged in sale of blinds and blinds components, etc.
The major products sold by subject include foam wood venetian blinds, PVC vertical blinds, fabric vertical blinds and roller components, etc.
Subject’s sales regions include domestic market, Japan, USA and Europe, etc.
One of subject’s major customers is Sentron Internation Inc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components and raw materials |
Cash, T/T, etc |
100% |
Foreign Purchase
Subject has little import.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Blinds, etc |
Cash, T/T, etc |
Export
|
Terms |
Proportion |
|
|
Blinds, etc |
L/C, T/T, 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. Wu 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. Wu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
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.