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Report Date : |
10.07.2013 |
IDENTIFICATION DETAILS
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Name : |
YU FONG TECHNOLOGIES CO., LTD. |
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Registered Office : |
3F-1, No.290, Sec.2, Nan Tun Rd., Nan Tun Dist., Taichung |
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Country : |
Taiwan |
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Date of Incorporation : |
18.07.1994 |
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Com. Reg. No.: |
84919551 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of shoe making machines, raw materials and moulds
and the related products |
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No. of Employees : |
About 40 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
No Complaints |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 4.1%. 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: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
3/F No. 290, Sec
2, Nantun Road, Nantun District, Taichung City, Taiwan |
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Telephone Number: |
+886-4-2471-4503/4508 |
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Fax Number: |
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E-mail: |
Notes:
Subject’s exact name and address are as above.
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Credit Opinion: |
Subject was incorporated on 1994-7-18 with registered number 84919551 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Shaoyu Su |
13,010,000 |
The information above is that of subject’s major shareholders.
Agents
|
1 |
|
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Name |
DYNA
CREATION PVT. LTD. (India agent for service in New Delhi) |
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Address |
M-576, 1st Floor,Guru Harkishan Nagar, Paschim Vihar, New
Delhi-110087, India |
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Tel: |
+91-11-45689688 +91-11-45689699 +91-11-45668287 |
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Fax: |
+91-11-25274297 |
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E-mail: |
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2 |
|
|
Name |
DYNA
CREATION PVT. LTD. (India agent for service in Kolkata) |
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Address |
3/1/2, Prantik Pally, Bosepukur, Kolkata-700042. |
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Tel: |
+91-33-2441-6006 |
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Fax: |
+91-33-2441-6006 |
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E-mail: |
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Subject introduced that it also has a branch company in Jinjiang, the mainland of China, while the details are not disclosed.
Core
Management
|
Name |
Shaoyu Su |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 40
Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a trader of machines, mould and materials for shoe making
without any production activities
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
1 |
General import and export trading business Besides licensed business |
|
2 |
Bidding service and price quoting service of the products for domestic
and overseas customers |
l
Subject purchases mainly at home from Taiwan and
the mainland of China.
Sales
Information
l The subject is
mainly engaged in sales of shoe making machines, materials and mould, etc
l
Subject introduced that its Major products are sold
as following:
|
Product |
Detailed items |
|
Shoe Making Machines |
Full-automatic
Eva Injection Machines Air Blowing
Injection Machines Dip machine PU Production
Line Series EVA Foaming
Molding Pressure Bottom Machine Full-Automatic
Servo control vest bag special machine Automatic
trimming - leather opening machine Heel machine Rubber and plastic vertical type injection machine |
|
Moulds |
Outsole Assembly
Die Air Blowing
Injection Die DIP Die EVA Injection
Die SHEET Die PVC Shoelace die, Rubber Mold |
|
BACKING MATERIAL: NON-WOVEN NEEDLE PUNCHING CHEMICAL SHEET
& TOE PUFF: CHEMICAL SHEET TOE PUFF FOR INSOLE: P/P CAMBRELLA PLAIN POLIYOU LAMINATED WITH
POLIYOU DECORATION: BEAD GLITTER 3D SHEET RAW MATERIAL EVA COMPUND: BLOWN AGENT, PCU
MATERIAL PVC MATERIAL HOT MELTING GLUE SOLE(CHINA) EVA SOLE GOLF SOLE PU SOLE TPR SOLE |
l Subject introduced
that its major customers include BATA Group, Lakhani、 Relaxo、 Action、 Paragon, etc
l Subject’s products are both sold in domestic and
overseas market and its mainly exports to India, Bangladesh, Sri Lanka,
Pakistan Nepal South Africa Kenya, etc
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Machines,
materials and moulds, etc |
COD,
CBD, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Machines,
materials and moulds, etc |
CBD,
etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Machines, materials
and moulds, 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 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. Liao |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.75 |
|
UK Pound |
1 |
Rs.89.91 |
|
Euro |
1 |
Rs.77.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.
