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Report Date : |
28.12.2013 |
IDENTIFICATION DETAILS
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Name : |
TAIPEI GRAND TRADERS INC. |
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Registered Office : |
18F-6, No.268, Lian Cheng Rd., Zhonghe
Dist., New Taipei City 235 |
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Country : |
Taiwan |
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Date of Incorporation : |
29.04.1976 |
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Com. Reg. No.: |
14068944 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
·
Exporter of Printing Machines, Plastic Bag
Making Machines, Bolt, Nut Making Machines, Zipper Slider Making, Machines and
Moulds, Extruder and Parts (Screws, Barrels, Air Rings, Gear Boxes) &
Packaging Material. ·
Importer of Grinding Wheels (KGW), Diamond
/CBN Wheels, Diamond slicing blades (MMC, Acecut), Dressing Tools, Diamond
rotary Dressers, Super finishing wheels, Abrasives (such as Silicon Carbide,
Diamond Grains/Powders/Compounds, Aluminum oxide, Zirconia Alumina),
Chemicals/Pigments such as Fluorescent pigments. |
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No. of Employees : |
About 20 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 |
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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 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.
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Source : CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
18F-6, No.268,
Lian Cheng Rd., Zhonghe Dist., New Taipei City 235, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-8227-3889 |
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Fax Number: |
Notes: The exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
Taipei Grand Traders Inc. |
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Registered Address: |
18F-6, No.268, Lian Cheng Rd., Zhonghe
Dist., New Taipei City 235, Taiwan (R.O.C.) |
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Date of Foundation: |
1976-4-29 |
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Registration Number: |
14068944 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
(As of 2013.12, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 5,000,000 (USD 170,000) |
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Legal Representatives: |
Changchuan Lu |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated on 1976-4-29 with registered number 14068944 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Changchuan Lu |
245,000 |
|
Yuexia Yangqiu |
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|
37,500 |
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|
Bingzhi Wu |
12,500 |
|
Lide Gu |
155,000 |
The information above is that of subject’s major shareholders.
Related Company
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Name: |
Shanghai TGT Material Corp. |
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Address: |
Room 804, No.505 Caoyang Road, Putuo
District, Shanghai City, China |
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Tel: |
+86-21-3360-8429 |
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Fax: |
+86-21-3360-8469 |
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Date of Registration: |
2004-6-14 |
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Registration Number: |
310114000994633 |
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Registered Capital: |
CNY 3,000,000 |
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Paid-up Capital: |
CNY 3,000,000 |
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Legal Representatives: |
Tiantian Chen |
Core
Management
|
1 |
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Name |
Changchuan Lu |
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Position |
Board Chairman |
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Date of Appointment |
1984-5-6 |
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2 |
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Name |
Yuexia Yangqiu |
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Position |
Director |
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3 |
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Name |
Bingzhi Wu |
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Position |
Director |
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4 |
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Name |
Lide Gu |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 20
Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
18F-6, No.268, Lian Cheng Rd., Zhonghe
Dist., New Taipei City 235, Taiwan (R.O.C.) |
Production
Information
l
Subject is a trader of industrial equipments and materials without any production
activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F401010 |
International trade business |
|
F113990 |
Wholesale of other mechanical appliance |
|
F107170 |
Wholesale of industry auxiliaries |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted |
l
Subject purchases products from both home and
abroad such as Taiwan, Mainland China, Japan, USA and Europe
l
Some of subject major suppliers are Mitsubishi
(Japan), Kure (Japan) and Acecut (USA).
l
Subject is engaged in sale of industrial equipment’s
and materials
l
Subject’s sales regions include Taiwan, Mainland
China, Southeast Asia, EUROPE AND America, etc.
l
We obtained some of subject’s products’ information
as follows for reference:
|
Import Products |
Grinding Wheel, Diamond Wheel, Diamond Slicing Blade, Dressing Tool,
Diamond Rotary Dresser, Super Finishing Wheel, Abrasive Substance,
Fluorescent Pigment |
|
Export Products |
Printing Machine, Plastic Bag Making Machine, Bolt, Nut Making
Machine, Zipper Slider Making Machine, Mould, Extruder, Screws, Barrels, Air
Rings, Gear Boxes, Packaging Material |
l
The products sold by subject are applied to the
industries of steel, automobile, semiconductor, medical, plastic and paint
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
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Industrial
equipments and materials, etc |
Cash,
T/T ,etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
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L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
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Industrial
equipments and materials, etc |
Cash,
T/T ,etc |
100% |
Export
|
Terms |
Proportion |
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Industrial
equipments and materials, 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 Mr. Xu 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 |
Mr. Xu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.06 |
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UK Pound |
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
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.