|
Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLOBALTEAM LTD. |
|
|
|
|
Registered Office : |
12FL., No.201-2, Tun Hua N. Rd., Taipei |
|
|
|
|
Country : |
Taiwan |
|
|
|
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Date of Incorporation : |
03.05.1988 |
|
|
|
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Com. Reg. No.: |
22877428 |
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|
|
|
Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
Trading of garment, etc |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. 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 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, 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 so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. 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 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken 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. 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: |
Globalteam Ltd. |
|
Supplied Name: |
Newtimes Group - Taipei |
|
Trading Address: |
10th and 12th Fl. Formosa Plastic Bldg, No. 201-32, Tun Hua, North
Road, Taipei, Taiwan R.O.C. |
|
Supplied Address: |
10th and 12th Fl. Formosa Plastic Bldg, No. 201-32, Tun Hua, North
Road, Taipei ROC |
|
Telephone Number: |
+886-2-2713-3333 |
Notes: Subject’s registered name and trading address are as above and it is introduced
that the supplied name also belongs to subject.
|
Credit Opinion: |
|
Registered Name: |
GLOBALTEAM LTD. |
|
Registered Address: |
12FL., No.201-2, Tun Hua N. Rd., Taipei Taiwan R.O.C. |
|
Date of Foundation: |
1988-5-3 |
|
Registration Number: |
22877428 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 29,000,000 (USD 983,100) |
|
Paid-up Capital: |
NTD 29,000,000 (USD 983,100) |
|
Legal Representatives: |
Xiaoyu Gan |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last Annual
Return: |
Notes: Subject did not
introduce its staff number and from other source we can not obtain the relevant
information, either.
Subject was incorporated on 1988-5-3 with registered
number 22877428 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Xiaoyu Gan |
300,000 |
|
New Era Jian Ye Co., Ltd (Literal Translation, British Virgin Islands) |
2,200,000 |
|
Fulian Jianye International Co., Ltd |
400,000 |
The information
above is that of subject’s major shareholders.
It is introduced
that subject has related companies in Hong Kong, Shanghai, Beijing, Hangzhou,
Thailand, Indonesia, the Philippines, Dubai, Sri
Lanka, India, USA and Japan, while the details
are not disclosed.
Core
Management
Directors
|
1 |
|
|
Name |
Xiaoyu Gan |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Chaoxiong Zhang |
|
Position |
Director |
|
3 |
|
|
Name |
Zhizhong Ling |
|
Position |
Director |
|
4 |
|
|
Name |
Qiuyin Li |
|
Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Add |
10th and 12th Fl. Formosa Plastic Bldg, No. 201-32, Tun Hua, North
Road, Taipei, Taiwan R.O.C. |
Production
Information
l
Subject is a trader of garments without any production
activities itself and it is introduced that subject has cooperative
manufacturers both at home and abroad.
Purchase
Information
l
The registered activities of subject:
|
1 |
General import and export trading business |
|
2 |
Bidding, price quoting and selling service of the
products for domestic and oversea customers |
l
Subject purchases both at home and abroad from its
cooperative garment manufacturers
l
The subject is mainly engaged in sales of garments including
sweaters and casual clothes, etc
l
Subject’s products are mainly sold in overseas
market and it is introduced that subject’s sales business spreads over the
whole world.
l
It is introduced that subject has related companies
in Hong Kong, Shanghai, Beijing, Hangzhou, Thailand, Indonesia, The Philippines,
Dubai, Sri Lanka,
India, USA and Japan for local business, while the details are not disclosed.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Garments, etc |
COD, CBD, Credit
Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Garments, etc |
CBD, Credit
Sales, etc |
100% |
Sales
Domestic Markets
Subject has little domestic sales.
Export
|
Sales Terms |
Proportion |
|
|
Garments, etc |
CBD, 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 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 Lu |
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
|
1 |
Rs.85.25 |
|
Euro |
1 |
Rs.71.72 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.