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Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
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Name : |
NEW CASTLE INC. |
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Registered Office : |
No.491, Fuxing 1st Road, Dahu
Village, Guishan Township, Taoyuan County |
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Country : |
Taiwan |
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Date of Incorporation : |
19.08.1997 |
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Com. Reg. No.: |
16147677 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of furniture and home decorations, etc. |
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No. of Employees : |
About 10 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Regular |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
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. 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: |
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Trading Address: |
No.491, Fuxing 1st
Road, Dahu Village, Guishan Township, Taoyuan County, Taiwan, R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886- 3-327-8369 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above and subject didn’t introduce the
supplied address.
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Registered Name: |
New Castle Inc. |
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Registered Address: |
No.491, Fuxing 1st Road, Dahu Village,
Guishan Township, Taoyuan County, Taiwan, R.O.C. |
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Date of Foundation: |
1997-8-19 |
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Registration Number: |
16147677 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2013.03, 1 NTD = 0.0340 USD) |
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Legal Representatives: |
Xiuling Yan |
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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 1997-8-19 with registered number 16147677
as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Xiuling Yan |
4,750,000 |
The information above is that of subject’s major shareholders.
Core
Management
|
Name |
Xiuling Yan |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 10 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.491, Fuxing 1st Road, Dahu Village,
Guishan Township, Taoyuan County, Taiwan, R.O.C. |
l
Subject is a trader of furniture and home decorations, etc without any
production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Sales of all kinds of home decorations |
|
-- |
Sales of carpet, curtain, wallpaper, and
decorations |
|
-- |
Sales of all kinds of furniture |
|
-- |
Import and export of above items |
|
-- |
General import and export business (besides licensed business) |
|
-- |
Agent, price quoting, bidding service,
Import, export and marketing of all kinds of above mentioned items. |
|
ZZ99999 |
Besides licensed
business, all other business items those are not
banned or restricted. |
l
Subject purchases products mainly from abroad such
as India, Europe and America, etc.
l Subject is engaged
in sales of furniture and home decorations, etc.
l
Subject’s sales region is mainly in Taiwan domestic
market.
l
The major products sold by subject include
cupboard, tale, chair, lamps and lanterns, ceramics, glass bottle, clock,
mirror, copper product, and texture product, etc.
l
It is introduced that subject’s major types of
customers are wholesale market, traditional vendor, and direct customers, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little domestic market.
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Furniture,
etc |
CBD,
etc |
100% |
Sales
Domestic Markets
(Taiwan)
|
Sales
Terms |
Proportion |
|
|
Furniture,
etc |
COD,
CBD, 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 Mr. Li declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
|
Name |
The Sanghai Commercial & Savings bank
nei-hu taipei Taiwan |
Note: The supplied bank
information is not confirmed by subject.
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. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
UK Pound |
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.37 |
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 |
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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 |
|
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 |
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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 |
|
<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.