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Report Date : |
10.06.2013 |
IDENTIFICATION DETAILS
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Name : |
EVERGREET EXPRESS DEVELOPMENT CORP. |
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Registered Office : |
1F, No.21-1, I-Chiang St., Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
29.05.1999 |
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Com. Reg. No.: |
70367070 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Import and trading of liquor and alcoholic beverage and the related products |
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No. of Employees : |
About 70 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
+886-2-25639966 |
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Fax Number: |
Notes:
The supplied address is incomplete, and the exact address is as above.
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Credit Opinion: |
Subject was incorporated on
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Subscription Shares |
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Mingzhu Zhang |
8,190,000 |
|
Bingjie Chen |
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1,000,000 |
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Zhaocan Huang |
1,500,000 |
|
Mai Zhang |
10,000 |
The information
above is that of subject’s major shareholders.
|
1 |
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Name: |
Yi-Jiang Shop/
Taipei |
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Address: |
No, 21-1,
Yijiang St., Zhongshan District, Taipei, Taiwan |
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2 |
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Name: |
An-He
Shop/Taipei |
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Address: |
No.12, Sec. 2,
Anhe Road, Daan District., Taipei, Taiwan |
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3 |
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Name: |
Breeze (Dean
& Deluca) Shop/Taipei |
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Address: |
B2, No. 39, Sec.
1, Fuxing S. Road, Songshan District, Taipei, Taiwan. |
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4 |
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Name: |
Breeze Station
Shop/Taipei |
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Address: |
2/F., No.3.
Beiping W. Road, Zhongzheng District, Taipei, Taiwan. |
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5 |
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Name: |
Taisuco Shop/
Kaohsiung |
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Address: |
B1, No. 60, Tuku
1st Rd, Nanzi District, Kaohsiung, Taiwan. |
Subject introduced
that it has many affiliated companies located in overseas, but the staff
declined to disclose more details about them
Core
Management
|
1 |
|
|
Name |
Mingzhu Zhang |
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Position |
Board Chairman |
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2 |
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Name |
Bingjie Chen |
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Position |
Director |
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3 |
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Name |
Zhaocan Huang |
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Position |
Director |
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4 |
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Name |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 70 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a trader of liquor and alcoholic
beverages without any production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F401010 |
International trading business |
|
A302020 |
Fisheries service |
|
JZ99050 |
Intermediary service industry |
|
F601010 |
Intellectual property industry |
|
F301030 |
General chain stores industry |
|
F211010 |
Retail of building materials |
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F203020 |
Wholesales of cigarette and liquors |
l
The productions are all purchased from abroad.
l The subject is
mainly engaged in trading of liquor and alcoholic beverages and the related
products.
l
Subject introduced that its major products are
alcoholic beverages and the related products, such as wine, champagne, Le Nez
du Vin, glassware and so on.
l
Subject introduced some famous brands, such as Bordeaux,
Burgundy, Rhone Valley, Champagne, Languedoc-Roussillon, etc.
l
Subject introduced that the products are mainly
imported from France, Italy, Spain, Portugal, Germany, Austria, Argentina,
Chile, New Zealand and so on.
l
Subject’s introduced that its major customers are
individuals, catering enterprises, etc.
l
Subject only sells to local Taiwan markets.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
Subject seldom purchases
from domestic market.
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Liquor and alcoholic beverage |
CBD, etc |
100% |
Sales
Domestic Markets
|
Product |
Sales Terms |
Proportion |
|
Liquor and alcoholic beverage |
COD, etc |
100% |
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. Chen declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
The bankers’ information is not available from the
subject or other sources.
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. Chen |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
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 |
|
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 |
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-- |
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.