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Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
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Name : |
PATRIOT MEMORY INC. |
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Registered Office : |
11F,11F.-1~11F.-8, No.700, Zhongzheng Rd., Zhonghe
Dist., New Taipei City 235 |
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Country : |
Taiwan |
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Date of Incorporation : |
07.03.2005 |
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Com. Reg. No.: |
27631732 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of electronic
products and etc. |
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No. of Employees : |
About 50 Employees |
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 |
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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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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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Former Name: |
PDP Systems, Inc. |
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Supplied Name: |
|
|
Trading Address: |
11F,11F.-1~11F.-8,
No.700, Zhongzheng Rd., Zhonghe Dist., New Taipei City 235, Taiwan (R.O.C.) |
|
Supplied Address: |
11F 11F 1-11F-8
No. 700 Zhongzheng Rd Zhonghe Dist New Taipei City 235 |
|
Telephone Number: |
+886-2-8228-0333 |
|
Fax Number: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 2005-3-7 with registered number 27631732
as Joint Stock Company y in
Taiwan.
|
Former English
Name |
PDP Systems,
Inc. |
|
Current English
Name |
Patriot Memory Inc. |
|
Name |
Subscription |
|
6,400,000 |
The information above is that of subject’s major shareholders.
Related Company
|
Name |
|
|
Address |
47027 Benicia Street Fremont, CA 94538 |
|
Telephone Number |
+1-510-979-1021 |
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Fax Number |
+1-510-979-1564. |
Core Management
Directors
|
1 |
|
|
Name |
Jones Paul |
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Position |
Board Chairman |
|
2 |
|
|
Name |
Douglas |
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Position |
Director |
|
3 |
|
|
Name |
Minmei Luo |
|
Position |
Director |
|
4 |
|
|
Name |
Roger Shinomoto |
|
Position |
Supervisor |
|
Total Employees |
About 50 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
11F,11F.-1~11F.-8, No.700, Zhongzheng Rd., Zhonghe Dist., New Taipei
City 235, Taiwan (R.O.C.) |
Production
Information
The subject is a manufacturer of electronic
products and etc.
It is introduced that subject has two
factories in Taiwan for production, but we cannot obtain detailed addresses
from valid sources.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
CC01060 |
Manufacturing of wired communication equipment. |
|
CC01070 |
Manufacturing of wireless communication equipment. |
|
CC01080 |
Manufacturing of electronic components. |
|
CC01110 |
Manufacturing of computer and related equipment. |
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CC01120 |
Manufacturing and copying of data storage media. |
|
F113070 |
Wholesales of telecommunication equipment. |
|
F118010 |
Wholesales of information software. |
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F119010 |
Wholesales of electronic materials. |
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F113050 |
Wholesales of computers and its machinery and equipment for
transaction |
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F213030 |
Retails of computers and its machinery and equipment for transaction |
|
F213060 |
Retails of telecommunication equipment. |
|
F218010 |
Retails of information software. |
|
F219010 |
Retails of electronic materials. |
|
F401010 |
International trading business. |
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F401021 |
Limited telecommunications. |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
It is introduced that subject purchases raw materials, components and
etc both in domestic market and overseas market.
It is introduced that subject purchases raw materials and components
mainly in demotic market.
It is introduced that subject imports some technologies and equipment
from USA.
The subject is mainly engaged in sales of electronic products and etc.
It is introduced that subject’s selling
territory is mainly in Asia and etc.
It is introduced that subject’s customers are
manufacturers and traders of electronic products and etc.
It is introduced that subject’s products are
applied to computers, cameras and etc.
Major Products
|
1 |
Memory |
|
2 |
Flash |
|
3 |
Peripherals |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
components and etc |
COD,CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials, components
and etc |
CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Electronic products and etc |
COD,CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Electronic products 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 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.
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 |
|
E-mail: |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.70.72 |
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 |
|
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.