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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
ROSEMARY FASHION LTD. |
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Registered Office : |
5/F No. 3, Lane 137, Chang Chun Road, 104 Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
20.11.1992 |
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Com. Reg. No.: |
84100094 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Daily Administrative Work |
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No. of Employees : |
Not available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
C/O Rosemary Fashion ltd., 5/F No. 3, Lane
137, Chang Chun Road, 104 taipei |
|
Telephone Number: |
Notes: Subject’s
exact name and address are as above and the supplied name belongs to the overseas company
in subject’s group registered in British Virgin Islands.
|
Registered Name: |
Rosemary Fashion Ltd |
|
Registered Address: |
5/F No. 3, Lane 137, Chang Chun Road, 104 Taipei, Taiwan |
|
Date of Foundation: |
1992-11-20 |
|
Registration Number: |
84100094 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 5,000,000 (USD 162,749) (As of 2013.3, 1 NTD = 0.0326 USD) |
|
Legal Representatives: |
Ruirong He |
|
Legal Form: |
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Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
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|
Date of Last
Annual Return: |
Subject was incorporated on 1992-11-20 with registered number 84100094 as Private Limited Company in Taiwan.
|
Name |
Subscription Amount |
|
Ruirong He |
2,500,000 |
The information above is that of subject’s major shareholders.
Related
Companies
|
1 |
|
|
Name |
High
Source Textile Ltd
(Shanghai Branch) |
|
Address |
No. 2633 Yanan
West Road, Shanghai Miramar Business Center C302, China |
|
Legal Form |
Sole
Proprietorship Company |
|
Telephone Number |
+86-21-62788777 |
|
Fax Number |
+86-21-62702059 |
|
1992 |
|
|
The fabric,
cotton/polyester dyeing, yarn dyed, printing, the functional fabrics, burn
flowers; all kinds of knitting |
|
|
2 |
|
|
Name |
High Source
Textile Ltd (Hongkong Branch) |
|
Date of
Foundation |
1990 |
|
Business Scope |
100% rayon
crepon piece dye and print |
|
3 |
|
|
Address |
|
|
Telephone Number |
+886-2-25233480 |
|
Fax Number |
+886-2-22196921 |
|
Date of
Foundation |
1986-9-26 |
|
Business Scope |
Export 100%
cotton fabric and 100% cotton yarn-dye fabric of Taiwan |
|
4 |
|
|
Name |
|
|
Address |
British Virgin
Islands |
Core Management
|
1 |
|
|
Name |
Ruirong He |
|
Position |
Director |
Offices & Factories
|
|
Headquarters |
|
Add |
Operation Information
l
Subject
is engaged in daily administrative work and files handling service for its
group but does not take orders.
l
It is introduced that subject’s group participates in the joint venture
restructuring of Yixing yarn-dye factory.
l
It is
introduced that selling territory of subject’s group Europe and America, etc.
l
It is
introduced that major customers of subject’s group
are manufacturers of garments, shoes, bags and etc.
l
It is
introduced that subject’s group cooperated with
“H&M”, “Calvin Klein” and etc.
l
The
registered activities of subject:
|
Business Code |
Details |
|
-- |
Processing, manufacture and sales of all kinds of fabric,
accessories, bags, footwear, etc |
|
-- |
Buying and selling all kinds of sports equipment, stationery,
flowers, beverage, food groceries and hardware, etc |
|
-- |
Import and export trading business of the above mentioned items |
|
-- |
Bidding service and marketing of the relevant products for domestic
and overseas market |
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 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 can not 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 |
Operator |
|
E-mail: |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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.