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Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
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Name : |
CENTARY FAITH INDUSTRIAL LTD. |
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Registered Office : |
1F, No.122, Fu Hsing 2nd Rd., Kwei-Shan Hsiang Taoyuan |
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Country : |
Taiwan |
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Date of Incorporation : |
28.04.1987 |
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Com. Reg. No.: |
22445581 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of the raw materials, chemical products and equipment for textile industry and etc. |
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No. of Employees : |
About 15 Employees. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Unknown |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. 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 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, 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 so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. 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 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken 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. 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: |
Centary Faith Industrial Ltd. |
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Trading Address: |
1F, No.122, Fu Hsing 2nd Rd., Kwei-Shan Hsiang Taoyuan Taiwan R.O.C. |
|
Supplied Address: |
No. 122, Fu Hsing 2nd Rd. Kon Hsi, Kwei Shang, Tao Yuan Hsien, Taiwan,
ROC |
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Telephone Number: |
+886-3-327-4395 |
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Fax Number: |
+886-3-327-4396 |
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
|
Registered Name: |
Centary Faith Industrial Ltd. |
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Registered Address: |
1F, No.122, Fu Hsing 2nd Rd., Kwei-Shan
Hsiang Taoyuan Taiwan R.O.C. |
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Date of Foundation: |
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Registration Number: |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2013.03, 1 NTD = 0.0337 USD) |
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Paid-up Capital: |
NTD 10,000,000 (USD 337,000) |
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Legal Representatives: |
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Legal Form: |
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Principal Activities: |
Trading of the raw
materials, chemical products and equipment for textile industry and etc. |
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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 1987-4-28 with
registered number 22445581 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
5,000 |
|
| Tinghao Lu |
2,500 |
The information
above is that of subject’s major shareholders.
Subject did not introduce whether it has any subsidiaries or branches, from
other source we can not obtain the relevant information, either.
Core
Management
Directors
|
1 |
|
|
Name |
Mingzhu Liu |
|
Position |
Board Chairman |
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2 |
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|
Name |
Tinghao Lu |
|
Position |
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|
3 |
|
|
Name |
Zhenzhu Liu |
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Position |
Director |
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4 |
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|
Name |
Bangjun Liu |
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Position |
Supervisor |
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Total Employees |
About 15 Employees. |
Offices
& Factories
|
|
Headquarters |
|
Add |
1F, No.122, Fu Hsing 2nd Rd., Kwei-Shan Hsiang Taoyuan Taiwan R.O.C. |
Production
Information
l
Subject is a trader of the raw
materials, chemical products and equipment for textile industry and etc
without any production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
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Trading of apparels, sweater, knitted garments,
bed sheet, knitting fabrics, bedspread, chair cover and textile yarns. |
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Trading business of export of plastic
injection molding equipment for the whole factory.. |
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Trading business of export of Plastic artificial
leather machine for the whole factory. |
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F107020 |
Wholesales of dye and pigments. |
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F107170 |
Wholesales of industrial additives. |
|
F114030 |
Wholesales of components for automobiles and
haulage motors. |
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F113010 |
Wholesales of machineries. |
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F113030 |
Wholesales of precision instrument. |
|
F401010 |
International trading business. |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
It is introduced that subject purchases its
products mainly in domestic markets.
l
The subject is engaged in sales of raw materials, chemical products and equipment for textile industry and
etc.
l
It is introduced that subject’s selling territory
covers all over the world.
l
It is introduced that subject’s major customers are
manufacturers of apparels, accessories, shoes, handbags and etc.
l
It is introduced that subject’s products are
applied to textile industry, garment manufacturing industry and etc.
Major products
|
Product |
Sales Region |
|
PVC materials |
PVC Sheets PVC Leather |
|
PU materials |
Dry PU Wet PU |
|
Fabric |
Nylon Polyester Printed polyester/nylon/satin Synthetic leather |
|
Machinery |
Auto Parts Machinery for Used Textile Injection Molding Machine |
|
Chemicals for Textile Process |
Auxiliaries for Preparing Auxiliaries for Dyeing Auxiliaries for Finishing |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
chemical products and equipment for textile industry and etc. |
COD, CBD and etc. |
Foreign Purchase
The subject has little
import.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Raw materials,
chemical products and equipment for textile industry and etc. |
COD, CBD and
etc. |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Raw materials,
chemical products and equipment for textile industry and etc. |
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 Ms. Chu 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 |
Ms. Chu |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
|
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
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 |
|
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.