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Report Date : |
23.07.2013 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL INTEGRATED CORP. |
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Registered Office : |
5F., No.129, Sec. 1, Fuxing S. Rd., Da-An District, Taipei City 10666 |
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Country : |
Taiwan |
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Date of Incorporation : |
07.08.1986 |
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Com. Reg. No.: |
22180049 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of pharmaceutical products, cosmetic and etc. |
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No. of Employees : |
About 200 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
Source
: CIA
Notes: The exact name and address are as above.
|
Credit Opinion: |
Business connections are permissible. |
Subject was incorporated on 1986-8-7 with registered
number 22180049 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Xiejun Qiu |
975,000 |
| Shenxia
Song |
770,600 |
|
Weizhong Qiu |
237,200 |
|
Weiqun Qiu |
237,077 |
The information
above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
Giant &
Medcom Corp. |
|
Address |
5F., No.127,
Sec. 1, Fu-Hsing S. Rd., Da-An District, Taipei City 10666, Taiwan (R.O.C.) |
|
Registered
Number |
30939019 |
|
Date of
Foundation |
1981-3-11 |
|
Telephone Number |
+886-2-2753-3235 |
|
2 |
|
|
Name |
Chin An Trade
Corporation ( Liberal Translated) |
|
Address |
Room 5, 11
Floor, No.33 Sec2 Jianguo North Road, Zhongshan District, Taipei |
|
Telephone Number |
+886-27523237 |
|
3 |
|
|
Name |
Mai Tong
Corporation ( Liberal Translated) |
|
Address |
5F., No.129, Sec. 1, Fuxing S. Rd., Da-An District, Taipei City 10666,
Taiwan (R.O.C.) |
Core
Management
Directors
|
1 |
|
|
Name |
Xiejun Qiu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Shenxia Song |
|
Position |
Director |
|
3 |
|
|
Name |
Weizhong Qiu |
|
Position |
Director |
|
4 |
|
|
Name |
Weiqun Qiu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 200 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
5F., No.129, Sec. 1, Fuxing S. Rd., Da-An District, Taipei City 10666,
Taiwan (R.O.C.) |
Production
Information
l
The subject is a trader of pharmaceutical products,
cosmetic and etc.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F108011 |
Wholesales of traditional Chinese medicine. |
|
F108021 |
Wholesales of western medicine. |
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F208011 |
Retails of traditional Chinese medicine. |
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F208021 |
Retails of western medicine. |
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F108031 |
Wholesales of medical equipment. |
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F208031 |
Retails of medical equipment. |
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F401021 |
Importing of radio-frequency devices for licensed
telecommunication. |
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F113070 |
Wholesales of telecommunication equipment. |
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F213060 |
Retails of telecommunication equipment. |
|
E605010 |
Installing of computer equipment. |
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F113050 |
Wholesales of computer and transactional
machinery and equipment. |
|
F213030 |
Retails of computer and transactional machinery
and equipment. |
|
F108040 |
Wholesales of cosmetic. |
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F208040 |
Retails of cosmetic. |
|
F102170 |
Wholesales of food and other good. |
|
F203010 |
Retails of food and drinks. |
|
F102040 |
Wholesales of drinks. |
|
F401010 |
International trading business. |
|
F107080 |
Wholesales of environmental medicine. |
|
J305010 |
Publishing of talkies. |
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F104110 |
Wholesales of cloth, wearing, shoe, cap, umbrella
and accessories for apparels. |
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F204110 |
Retails of cloth, wearing, shoe, cap, umbrella
and accessories for apparels. |
|
J303010 |
Publishing of magazine. |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
It is introduced that subject purchases its
products from Europe, America, Japan, and Taiwan, etc.
l
It is introduced that subject is mainly engaged in
sales of pharmaceutical products, cosmetic and etc.
l
It is introduced that subject’s selling territory
is mainly in Taiwan domestic market.
l
It is introduced that subject’s major customers are
hospitals, healthcare center, supermarkets
and etc.
l
It is introduced that subject is an agent of many
brands, such as “Xanthium”, “Erispan”, “Salagen”, “Fleet”, “Summers Eve”, and
“FlexNow” and etc.
Major products
sold
|
Brand |
Function |
Original |
|
Fleet Enema |
Purging gut |
America |
|
Polyxal |
Restoring scar |
-- |
|
Xanthium |
Depressing respiratory tract obstruction |
-- |
|
Urinom |
Depressing uric acid |
Japan |
|
Progor |
Resisting high blood pressure |
Belgium |
|
Acure |
Treating acne |
America |
|
Salagen |
Treating mouth dry disease |
America |
|
Erispan |
Resisting dysphoria |
-- |
|
Fenogal |
Depressing blood-fat |
Belgium |
|
Summer’s eve |
Cleaning vagina |
America |
|
Sensimin |
Skin care |
Japan |
|
Gyn hydralin |
Cleaning skin |
Taiwan |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Pharmaceutical
products, cosmetic and etc. |
COD, CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Pharmaceutical
products, cosmetic and etc. |
CBD, etc |
100% |
Sales
Domestic Markets
(Taiwan)
|
Sales Terms |
Proportion |
|
|
Pharmaceutical
products, cosmetic and etc. |
COD, CBD, etc |
100% |
Export
The subject has little export.
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. Guo 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
|
2008,Beijian,4482 |
|
|
Date of Trial: |
2008-3-14 |
|
Reason: |
|
Name |
Ms. Guo |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.41 |
|
|
1 |
Rs.90.74 |
|
Euro |
1 |
Rs.78.11 |
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 |
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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 |
|
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 |
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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 |
|
-- |
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.