|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
CNN Plastic System Co., Ltd. |
|
|
|
|
Registered Office : |
1F, No.40, Lane 370, Chuang Cheng Rd.,
Hsin-Chu City |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
21.05.1992 |
|
|
|
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Com. Reg. No.: |
86667432 |
|
|
|
|
Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
Manufacturing and Sales of Plastic Equipment
and Related Products. |
|
|
|
|
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 |
|
|
|
|
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: |
9F, No 162, Sec 2, Chung Shan N Road, New
Taipei City, Taiwan |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2596-3655 |
|
Fax Number: |
Notes: The exact name and address are as above.
Notes: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
Subject was incorporated on 1992-5-21 with registered number 86667432 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Shares |
|
Zhijie Li |
808,000 |
|
Liyu Xu |
648,000 |
|
Guanting Li |
522,000 |
Core Management
Directors
|
1 |
|
|
Name |
Yuanquan Li |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zhijie Li |
|
Position |
Director |
|
3 |
|
|
Name |
Liyu Xu |
|
Position |
Director |
|
4 |
|
|
Name |
Guanting Li |
|
Position |
Supervisor |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
The subject is a
manufacturer of plastic equipment and
related products.
It is introduced that subject has a factory in Taiwan for production.
Purchase
Information
· The registered activities of subject:
|
1 |
Manufacturing, process and sales of plastic materials,
household plastic utensils, plastic packaging supplies and etc. |
|
2 |
Manufacturing, process and sales of moulds,
machinery for plastic and related equipment. |
|
3 |
Trading business of import and export for above related
products. |
|
4 |
Agents of bidding, marking price and sales for domestic
and overseas manufacturers’ related products. |
· It is introduced that subject purchases raw materials and etc mainly in domestic market.
· The subject is mainly engaged in sales of plastic equipment and related products.
It
is introduced that subject’s major plastic moulds and etc.
It
is introduced that subject’s selling territory includes China, the Middle East,
South America, Eastern Europe, South Asia, Africa and etc.
It
is introduced that subject’s major customers are manufacturers of plastic
products and etc.
It
is introduced that subject’s products are applied to automobiles, small
household electrical appliances and etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials and etc |
COD,
CBD and etc |
100% |
The subject has little
import.
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Plastic equipment and related products. |
COD,
CBD and etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Plastic equipment and related products. |
CBD
and 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. Jiang declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
Public Record
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. Jiang |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.45 |
|
UK Pound |
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.44 |
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.