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Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
Q-LITE CO., LTD. |
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Registered Office : |
No.26,Alley 26,Lane 57,Cheng Kung Rd., Dali Dist., Taichung City 412 |
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Country : |
Taiwan |
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Date of Incorporation : |
28.01.1997 |
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Com. Reg. No.: |
97371576 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of bicycle lamp, etc. |
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No. of Employees : |
About 30 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
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Company Name: |
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Former Name: |
Depend Co., Ltd. |
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Supplied Name: |
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Trading Address: |
No. 223, Xiangshun 2nd Road, Beitun District, Taichung City
406, Taiwan, R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-4-2439-2430 |
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Fax Number: |
+886-4-2459-1707 |
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
|
Registered Name: |
Q-Lite Co., Ltd. |
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Registered Address: |
No.26,Alley 26,Lane 57,Cheng Kung Rd., Dali Dist., Taichung City 412,
Taiwan (R.O.C.) |
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Date of Foundation: |
1997-1-28 |
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Registration Number: |
97371576 |
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Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2012.11, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 10,000,000 (USD 340,000) |
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Legal Representatives: |
Baoliang Chen |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock
Exchange: |
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|
Date of Last
Annual Return: |
Subject was incorporated on 1997-1-28 with registered
number 97371576 as Joint Stock Company
in Taiwan.
Change of Name
|
Former Chinese
Name |
鎂仕特股份有限公司 |
|
Current Chinese
Name |
鎂仕特有限公司 |
|
Former English
Name |
Depend Co., Ltd. |
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Current English
Name |
Q-Lite Co., Ltd. |
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Name |
Subscription Shares |
|
Baoliang Chen |
114,000 |
|
Baochuan Chen |
|
|
30,000 |
|
|
Meiyan Lv |
10,000 |
The information
above is that of subject’s major shareholders.
|
1 |
|
|
Name |
Q-Lite Bicycle
Light (Hui Zhou) Co., Ltd. |
|
Address |
Rentu Community,
Ruhu Town, Huizhou City, Guangdong Province, China |
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Telephone Number |
+86-752-627-3366 |
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Fax Number |
+86-752-627-3332 |
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2 |
|
|
Name |
Spanninga Metaal
B.V. |
|
Address |
P.O. Box 5,
NL-8500 AA Joure, The Netherlands |
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Telephone Number |
+31-513-41-4655 |
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Fax Number |
+31-513-41-6148 |
Core
Management
Directors
|
1 |
|
|
Name |
Baoliang Chen |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Baochuan Chen |
|
Position |
Director |
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3 |
|
|
Name |
Fick Spanick |
|
Position |
Director |
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4 |
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|
Name |
Rina Frank |
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Position |
Director |
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5 |
|
|
Name |
Meiyan Lv |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 30 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No. 223, Xiangshun 2nd Road, Beitun District, Taichung City
406, Taiwan, R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of bicycle
lamp, etc.
l
Subject has factories in Taichung, Taiwan and
Huizhou City, Guangdong Province, China for production.
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F104110 |
Wholesale of textile, garment, shoes, hat,
umbrella, and accessories |
|
F105050 |
Wholesale of furniture, bedding, kitchen utensil,
and decoration |
|
F106010 |
Wholesale of hardware |
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F109070 |
Wholesale of stationery, instrument, and
recreational products |
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F113110 |
Wholesale of battery |
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F113990 |
Wholesale of other mechanical appliance |
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F114030 |
Wholesale of auto and motor parts |
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F114040 |
Wholesale of bicycle and its parts |
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F114990 |
Wholesale of other transport facilities’ parts |
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F119010 |
Wholesale of electronic material |
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F204110 |
Retail of textile, garment, shoes, hat, umbrella,
and accessories |
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F205040 |
Retail of furniture, bedding, kitchen utensil,
and decoration |
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F206010 |
Retail of hardware |
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F209060 |
Retail of stationery, instrument, and
recreational products |
|
F213010 |
Retail of electrical equipment |
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F213040 |
Retail of precise instrument |
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F214030 |
Retail of auto and motor parts |
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F214040 |
Retail of bicycle and its parts |
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F214990 |
Retail of other transport facilities’ parts |
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F219010 |
Retail of electronic material |
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F401010 |
International trade business |
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F401021 |
Import of RF equipment controlled by telecom |
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CC01040 |
Manufacturing of lighting equipment |
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CC01080 |
Manufacturing of electronic components |
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CD01030 |
Manufacturing of auto and its parts |
|
CD01040 |
Manufacturing of motor and its part |
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CD01050 |
Manufacturing of bicycle and its parts |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The components for production are mainly purchased
in domestic market.
l
It is introduced that subject imports some technology
and cooperates with Spanninga Group.
l Subject is engaged
in sale of bicycle lamp, etc.
l
The major products sold by subject include wireless
lamp, USB lamp, front light, rear light, combo set lamp, bar-end light, and
accessories, etc.
l
Subject’s sales regions include Asia, Europe and
America, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
(Taiwan and Mainland China)
|
Terms |
Proportion |
|
|
Components |
Cash, T/T, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
(Taiwan and Mainland China)
|
Terms |
Proportion |
|
|
Bicycle lamp,
etc |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Bicycle lamp, etc |
L/C, T/T, 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. Chen 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 |
Mr. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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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.