|
Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRO-PATH INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
9F-3, No.3, Ding An Road, San Ming Dist.,
Kaohsiung |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
08.12.1995 |
|
|
|
|
Com. Reg. No.: |
89742527 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
subject is
engaged in sales of screws include self drilling screw, security screw,
window screw, stainless steel screw, roofing screw, drywall screw shipboard
screw, wood crew, bi-metal self drilling screw, tapping screw, concrete
screw, and nut. |
|
|
|
|
No. of Employees : |
Not Available |
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 |
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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 |
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 4.1%. 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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
10F-3, No.315,
Minghua Road., Gushan Dist., Kaohsiung City 804, Taiwan R.O.C. |
|
Supplied Address: |
10F-3 No. 315 Minghua
Road, Gushan Dist Kaohsiung 80453 Taiwan |
|
Telephone Number: |
+886-7-550-3993 |
|
Fax Number: |
|
|
E-mail: |
|
Credit Opinion: |
|
Registered Name: |
Pro-Path Industrial Co., Ltd. |
|
Registered Address: |
9F-3, No.3, Ding An Road, San Ming Dist.,
Kaohsiung, Taiwan, R.O.C. |
|
Date of Foundation: |
1995-12-8 |
|
Registration Number: |
89742527 |
|
Registry: |
Economic Development Bureau, Kaohsiung City
Government |
|
Registered Capital: |
(As of 2013.07, 1 NTD = 0.0339 USD) |
|
Legal Representatives: |
Limei Zhang |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Note: Subject’s relevant
staff Ms. Xiao declined to disclose their staff number, from other source we
cannot obtain the relevant information, either.
Subject was incorporated on 1995-12-8 with registered number 89742527 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Limei Zhang |
5,000,000 |
The information above is that of subject’s major shareholders.
Related Company
|
Name |
Unicore Precision Co., Ltd. |
Core
Management
|
Name |
Limei Zhang |
|
Position |
Director |
Offices
& Factories
|
|
Headquarters |
|
Add |
10F-3, No.315, Minghua Road., Gushan Dist.,
Kaohsiung City 804, Taiwan R.O.C. |
Production
Information
l
Subject is a trader of screws and nuts without any
production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F106010 |
Hardware wholesale trade |
|
F206010 |
Hardware retail industry |
|
F401010 |
International trade business |
|
F211010 |
Building materials retail industry |
|
CA01050 |
Steel products twice processing industry |
|
CA02010 |
Metal structure and building component
manufacturing industry |
|
CA02030 |
Screw, nut, screw spike, and rivet
products manufacturing industry |
|
CA02090 |
Wire product manufacturing industry |
|
CB01010 |
Mechanical equipment manufacturing
industry |
|
CB01990 |
Other machineries manufacturing industry |
|
CQ01010 |
Mould manufacturing industry |
|
F106030 |
Mould wholesale trade |
|
F113010 |
Machinery wholesale trade |
|
F119010 |
Electronic material wholesale trade |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The products are mostly purchased in domestic factories.
l
The
subject is mainly engaged in sales of screws and nuts.
l
The
major products sold by subject include self drilling screw, security screw, window
screw, stainless steel screw, roofing screw, drywall screw shipboard screw,
wood crew, bi-metal self drilling screw, tapping screw, concrete screw, and
nut.
l
The subject’s sales regions include America, Australia, Germany, United Kingdom,
etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
(Taiwan)
|
Terms |
Proportion |
|
|
Screws
and nuts |
Cash,
T/T, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Screws
and nuts |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Screws
and nuts |
L/C,
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. Xiao 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. Xiao |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.39 |
|
UK Pound |
1 |
Rs.89.90 |
|
Euro |
1 |
Rs.77.23 |
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.