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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
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Name : |
NAN KAI CORPORATION |
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Registered Office : |
4F., No.348, Sec.6, |
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Country : |
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Date of Incorporation : |
12.09.1972 |
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Com. Reg. No.: |
11880755 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of medical equipment and home decorations, etc |
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No. of Employees : |
About 70 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 : |
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 |
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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: |
4F., No.348,
Sec.6, Nanjing E. Rd., Neihu Dist., Taipei City 11470, Taiwan (R.O.C.) |
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Supplied Address: |
|
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Telephone Number: |
+886-2-2796-1216 |
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Fax Number: |
+886-2-2762-0025 |
Notes: The exact name and address are as
above.
Subject was incorporated on
1972-12-29 with registered number 11880755
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Ruobai Yang |
3,285 |
|
Guotai Wang |
|
|
2,581 |
|
|
Hung Chong Corp. |
8,091 |
The information above is that of subject’s major shareholders.
Related Companies
|
Registered Name |
Hung Chong Corp. |
|
Registered Address: |
No.38, Sec.6, Min Chuan E. Road, Taipei, Taiwan, R.O.C. |
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Telephone Number: |
+886-2-2791-1188 |
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Fax Number: |
+886-2-2791-2842 |
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Date of Foundation: |
1973-12-31 |
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Registration Number: |
04401323 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 198,000,000 (USD 6,732,000) (As of 2013.05, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 198,000,000 (USD 6,732,000) |
|
Legal Representatives: |
Aigen Shen |
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Legal Form: |
Joint Stock Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2011-2-8 |
Offices
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Name |
Taichung Office |
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Address |
8th Floor, No.296-1, Sec 3, Wenxin Road, Xitun District,
Taichung City, Taiwan, R.O.C. |
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Telephone Number: |
+886-4-2315-8696 |
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Fax Number: |
+886-4-2315-8221 |
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2 |
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Name |
Kaohsiung Office |
|
Address |
7th Floor, No.333, Wenxin Road, Gushan District, Kaohsiung
City, Taiwan, R.O.C. |
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Telephone Number: |
+886-7-553-0091 |
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Fax Number: |
+886-7-55.-8970 |
Core Management
Directors
|
1 |
|
|
Name |
Ruobai Yang |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Guotai Wang |
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Position |
Director |
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Date of Appointment |
1991-5-15 |
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3 |
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Name |
Shufen Su |
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Position |
Director |
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4 |
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Name |
Fuxing Chen |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 70 Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
4F., No.348, Sec.6, Nanjing E. Rd., Neihu Dist., Taipei City 11470,
Taiwan (R.O.C.) |
Production
Information
Subject is a trader of medical equipment and home decorations, etc
without any production activities.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
CB01020 |
Manufacturing of office equipment |
|
CC01110 |
Manufacturing of computer and peripheral equipment |
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CZ99990 |
Manufacturing of other unclassified industrial products |
|
E701030 |
Installation of RF equipment controlled by telecom |
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F105050 |
Wholesale of furniture, bedding, kitchen utensil, decoration |
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F106050 |
Wholesale of glass-ceramic ware |
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F108021 |
Wholesale of western medicine |
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F108031 |
Wholesale of medical equipment |
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F113010 |
Wholesale of machinery |
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F116010 |
Wholesale of photographic apparatus |
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F205040 |
Retail of furniture, bedding, kitchen utensil, decoration |
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F208021 |
Retail of western medicine |
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F208031 |
Retail of medical equipment |
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F208050 |
Retail of B class medicine |
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F213080 |
Retail of mechanical appliance |
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F216010 |
Retail of photographic apparatus |
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F401010 |
International trade business |
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F401021 |
Import of RF equipment controlled by telecom |
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G801010 |
Warehousing industry |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted |
Subject purchases products mainly from abroad and the details are as
followed for reference.
|
Type |
Brand |
Origin |
|
Medical Equipment |
FUJIFILM, EIZO |
Japan |
|
Planmed |
Finland |
|
|
iCAD |
USA |
|
|
GENDEX |
Germany |
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|
Home Decorations |
LAMONT |
UK |
|
VAGABOND HOUSE |
USA |
|
|
Kenneth Cobonpue |
Philippines |
Subject is engaged in sales of medical equipment
and home decorations, etc.
Subject’s sales region is mainly in Taiwan domestic market.
Subject’s medical equipment are mainly sold to hospital, clinic, and
health centre such as “Taipei Veterans General Hospital”, “Chang Gung Hospital”
and “National Taiwan University Hospital”, etc.
Major products
|
Type |
Product |
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Medical Equipment |
Medical imaging equipment |
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Dental X-ray imaging equipment |
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Animal X-ray imaging equipment |
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Home Decorations |
Furniture |
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Tin tableware |
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Copper tchotchkes |
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Artificial planting |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
Subject has little domestic purchase.
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Medical
equipment and decorations |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Medical
equipment and decorations |
Cash, T/T, etc |
100% |
Export
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 Ms. Chen declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
|
Name |
Hua Nan Commercial Bank Ltd, Taipei City 100, Taiwan |
Note: The supplied bank information was 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 |
Ms. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
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---- |
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.