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Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
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Name : |
ALLIANCE MUSIC COMPANY |
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Registered Office : |
3F., No.175, Sec.2, An Ho Rd., Taipei City |
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Country : |
Taiwan |
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Date of Incorporation : |
20.10.1982 |
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Com. Reg. No.: |
30989045 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of music instrument and
accessories. |
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No. of Employees : |
About 50 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 4.1%. 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: |
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Supplied Name: |
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Trading Address: |
No.5 Lane 170, TungHwa
Street, Da An District, Taipei, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-2735-0091 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
Subject was incorporated on 1982-10-20 with registered number 30989045 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Shaohong Chen |
430 |
|
Shuzhi Qiu |
|
|
450 |
|
|
Shaoping Chen |
270 |
|
Jinying Zhan |
230 |
The information above is that of subject’s major shareholders.
Related Companies
|
Name |
Reliance International Corp. |
|
Address |
3rd Fl, No. 175, Section 2, An-Ho RD., P.O. Box 96-140,
Taipei 106, Taiwan |
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Telephone Number |
+886-2-2736-8151 |
|
Fax Number |
+886-2-2738-6491 |
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E-mail |
Core
Management
|
1 |
|
|
Name |
Shaohong Chen |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Shuzhi Qiu |
|
Position |
Director |
|
3 |
|
|
Name |
Shaoping Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Jinying Zhan |
|
Position |
Supervisor |
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Total Employees |
About 50 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.5 Lane 170, TungHwa Street, Da An
District, Taipei, Taiwan (R.O.C.) |
l
The subject is a manufacturer of music instrument and accessories.
l
It is introduced that
subject has factories in USA, mainland China, and Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and trading of all kinds of
instrument and accessories |
|
-- |
Sales of machinery, ironware, sports
equipment, and electronic component |
|
-- |
Provision of Security for import, export
business and the same trade business |
|
-- |
Wholesale, agent, offer and bid of above
products for home and overseas companies |
|
-- |
Operation and investment of above business |
l
It is introduced that subject purchases raw
materials, components both in domestic and overseas markets.
l
It is introduced that subject products from Canada,
USA and etc.
Sales
Information
l The subject is
mainly engaged in sales of music instrument and accessories.
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
distributors of music instrument and etc.
l
It is introduced that subject is also an agent of
many brands such as “Gibraltar”, “LP”, “B.C. Rich”, “Godin”, “ANTIGUA”, and “NS
DESIGN” and etc.
l
It is introduced that subject has its own brand
called “DIXON”.
Major Products
|
|
Product |
|
1 |
Drums set |
|
2 |
Snare drums |
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3 |
Cymbal |
|
4 |
Hand drums |
|
5 |
Timpani |
|
6 |
Marimba |
|
7 |
Xylophone |
|
8 |
Guitar |
|
9 |
Guitar amplifiers |
|
10 |
Pickup |
|
11 |
Tuner |
|
12 |
Sax |
|
13 |
Clarinet |
|
14 |
Flute |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials |
COD,
COB, etc |
100% |
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials, instrument and accessories |
CBD,
etc |
100% |
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Instrument
and accessories |
COD,
COB, 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 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 |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.45 |
|
UK Pound |
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
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.