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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ASIAN GLORY INCORPORATION |
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Registered Office : |
No.2, Alley 1, Lane 11, Yajou Rd., Tucheng Dist., New Taipei City 236 |
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Country : |
Taiwan |
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Date of Incorporation : |
10.11.1995 |
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Com. Reg. No.: |
89779100 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of hardware materials and etc. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Usually Correct |
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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 |
|
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: |
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Trading Address: |
No.2, alley 1, lane 11, yajou rd., tucheng
dist., new taipei city 236, taiwan (r.o.c.) |
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Supplied Address: |
1F NO 315 SINCHIANG RD FONGSHAN CITY
KAOSISUNG COUNTRY Taiwan |
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Telephone Number: |
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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: |
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Registered Name: |
Asian Glory Incorporation |
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Registered Address: |
No.2, Alley 1, Lane 11, Yajou Rd., Tucheng Dist., New Taipei City 236,
Taiwan (R.O.C.) |
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Date of Foundation: |
1995-11-10 |
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Registration Number: |
89779100 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
(As of 2013.3, 1 NTD = 0.0341 USD) |
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Paid-up Capital: |
NTD 23,000,000 (USD784,300) |
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Legal Representatives: |
Yushu Lv |
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Legal Form: |
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Principal Activities: |
Manufacturing and sales
of hardware materials and etc. |
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Staff: |
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Listed at Stock
Exchange: |
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Date of Last
Annual Return: |
Notes: Subject declined to disclose its staff number; from
other source we cannot obtain the relevant information, either.
Subject was incorporated on 1995-11-10 with registered number 89779100 as Joint Stock Company in Taiwan.
|
Name |
Shares |
|
Yushu Lv |
15,000 |
|
Decai Chen |
2,000 |
|
Xingxing Chen |
2,000 |
|
Meiying Cai |
2,000 |
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 |
Yushu Lv |
|
Position |
Chairman |
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2 |
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|
Name |
Decai Chen |
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Position |
Director |
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3 |
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Name |
Xingxing Chen |
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Position |
Director |
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4 |
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Name |
Meiying Cai |
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Position |
Supervisor |
Offices
& Factories
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|
Headquarters |
|
Add |
No.2, Alley 1,
Lane 11, Yajou Rd., Tucheng Dist., New Taipei City 236, Taiwan (R.O.C.) |
Production
Information
l
Subject is a manufacturer of hardware materials and etc.
l
It is introduced that
subject has a factory in Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
General import and export trade
business |
|
-- |
Dealing in import and export trade
business of Hardware machinery, construction materials, textile, shoes,
timber product, furniture, stationery gift, dyestuff, coatings, spice
(excluding of the poisonous substance and that is controlled by related
regulations ), electric and computer finished products as well as the related
spare parts, automobile and ship as well as related spare parts. |
|
-- |
Design, purchase and sales of musical instrument,
office machine, environmental protection equipment. Purchase and sales of
lift, construction machinery, metal plates and wiring material, lathes,
models, wood working machinery and related spare parts. |
|
-- |
Purchase and sales of garments,
lining, glass fiber and raw materials, picture, tape and glasses (excluding
of contact lenses ) electric appliance products. |
|
-- |
Import and export business of above
mentioned products and acting as agent in biding and quoting for domestic and
international factories. |
|
-- |
Consulting service for inviting
investment from the domestic and abroad (excluding of consulting service in
security investment and accounting business ). |
|
-- |
Studying, consulting and analyzing
service in market promoting, both domestic and abroad |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
It is introduced that subject purchases raw
materials and etc mainly in domestic market.
l The subject is
engaged in sales of hardware materials and etc.
l
It is introduced that
subject’s major products are steel, hardware materials and etc.
l
It is introduced that
subject’s selling territory includes China, America and etc.
l
It is introduced that
subject’s major customers are manufacturers of machinery and etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Product |
Payment Terms |
Proportion |
|
COD, CBD and etc |
100% |
Foreign Purchase
The subject has little import.
Sales
Domestic Markets
|
Product |
Sales Terms |
Proportion |
|
COD, CBD and etc |
Export
|
Product |
Sales Terms |
Proportion |
|
Hardware materials 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. Wu 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. Wu |
|
Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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 |
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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.