MIRA INFORM REPORT
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Report Date : |
11.05.2013 |
IDENTIFICATION DETAILS
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Name : |
CREATION WINE & SPIRIT INC. |
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Registered Office : |
6F., No. 83, Minshan St., Neihu Dist.,
Taipei City 11494 |
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Country : |
Taiwan |
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Date of Incorporation : |
10.03.1997 |
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Com. Reg. No.: |
16163654 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Import and sale of wines, etc. |
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No. of Employees : |
About 20 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
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Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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. 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 1.8%, due
primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%,
as exports returned to the level of previous years, and in 2011, grew 4.0%. In
2012, however, growth fell to 1.3%, 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 except for the landmark Economic
Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far Taiwan
has been excluded from this greater economic integration in part because of its
diplomatic status. Negotiations continue on such follow-on components of ECFA
regarding trade in goods and services. The MA administration has said that the
ECFA will serve as a stepping stone toward trade pacts with other key trade
partners, which Taiwan subsequently launched with Singapore and New Zealand.
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 11.2% of the island's
total population as of 2012. The island runs a large trade surplus largely
because of its surplus with China, and its foreign reserves are the world's
fifth largest, behind China, Japan, Saudi Arabia, and Russia. In 2006 China
overtook 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. In August 2012, Taiwan Central Bank signed a memorandum of
understanding on cross-Strait currency settlement with its Chinese counterpart.
The MOU allows for the direct settlement of Chinese RMB and the New Taiwan
dollar across the Strait, which could help develop Taiwan into a local RMB hub.
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.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
6F., No. 83,
Minshan St., Neihu Dist., Taipei City 11494, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-8791-8870 |
Notes: The exact address is as above.
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Registered Name: |
CREATION WINE & SPIRIT INC. |
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Registered Address: |
6F., No. 83, Minshan St., Neihu Dist.,
Taipei City 11494, Taiwan (R.O.C.) |
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Date of Foundation: |
1997-10-3 |
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Registration Number: |
16163654 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 70,000,000
(USD 2,380,000) (As of 2013.05, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 70,000,000 (USD 2,380,000) |
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Legal Representatives: |
Bikai Cai |
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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 1997-10-3 with registered number 16163654
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Kai Ping Investment Co., Ltd. (Literal Translation) |
5,500,000 |
The information above is that of subject’s major shareholders.
Related Companies
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1 |
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Name: |
Kai Ping Investment Co., Ltd. (Literal Translation) |
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Address: |
6F., No. 83, Minshan St., Neihu Dist.,
Taipei City 11494, Taiwan (R.O.C.) |
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Date of Foundation: |
1996-12-17 |
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Registration Number: |
97304839 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 200,000,000 (USD
6,800,000) (As of 2013.05, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 200,000,000 (USD 6,800,000) |
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Legal Representatives: |
Zhengzhi Cai |
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Legal Form: |
Joint Stock Company |
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Principal Activities: |
H201010 -- General investment business |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2012-7-16 |
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2 |
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Name: |
Creation Food Co., Ltd. |
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7F., No. 83, Minshan St., Neihu Dist., Taipei City 11494, Taiwan
(R.O.C.) |
||
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Telephone Number: |
+886-2-8791-2288 |
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Fax Number: |
+886-2-8791-7159 |
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Store
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Address: |
1st Floor, No.7, Lane 32, Yixian
Road, Taipei City, Taiwan, R.O.C. |
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+886-2-2758-6636 |
Core Management
Directors
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1 |
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Name |
Bikai Cai |
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Position |
Board Chairman |
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2 |
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Name |
Bijun Cai |
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Position |
Director |
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3 |
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Name |
Shengxiong Fan |
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Position |
Director |
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4 |
|
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Name |
Shizhen Sun |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 20 Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
6F., No. 83, Minshan St., Neihu Dist., Taipei City 11494, Taiwan
(R.O.C.) |
Production
Information
Subject is an importer of wines, etc without any production activities.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
F401010 |
International trade business |
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F102030 |
Wholesale of alcohol and tobacco |
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F203020 |
Retail of alcohol and tobacco |
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F102040 |
Wholesale of beverage |
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F203010 |
Retail of food, grocery and beverage |
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F105030 |
Wholesale of ceramic and glassware |
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F109010 |
Wholesale of book |
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F209010 |
Retail of book and stationery |
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F102010 |
Wholesale of frozen food |
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F109020 |
Wholesale of stationery |
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F102060 |
Wholesale of food |
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F113020 |
Wholesale of electrical equipment |
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F213010 |
Retail of electrical equipment |
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-- |
Wholesale of bottle opener, wine rack, coffee widgets |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
Subject purchases products from abroad and the
details are as followed for reference.
|
Origin |
Wineries |
|
France |
Champagne Devaux, Laurent Perrier, Chateau La Lagune, Maison Ginestet,
Chanson Pere & Fils, Paul Jaboulet Aine, Les Vins Skalli, CFGV, Medi,
Domaine Laroche |
|
Italy |
Tenuta San Guido (Sassicaia), Antinori, Tormaresca, Prunotto, Allegrini,
Riunite, Asti Spumate Villa Veroni |
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Portugal |
Taylor Fladgate & Yeatman |
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Spain |
Alvaro Palacios – Priorat, Descendientes de J.Palacios – Bierzo,
Palacios Remondo – Rioja, HUELLAS |
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Germany |
H. Kendermann |
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Argentina |
Trivento |
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Australia |
Tyrrell's, d'Arenberg |
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Chile |
Concha y Toro |
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USA |
St. Supery |
Subject is engaged
in sale of wines, etc.
The major products sold by subject include red
wine, white spirit, champagne, sparkling wine, pink wine and port.
Subject’s sales region is major in Taiwan
domestic market.
Subject’s major customers are hotels,
restaurants, hypermarkets, supermarkets and convenient stores, etc.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
Subject has little purchase in domestic
market.
Foreign Purchase
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Payment Terms |
Proportion |
|
|
Wines, etc |
L/C, T/T, etc |
100% |
Sales
Domestic Markets (Taiwan)
|
Sales Terms |
Proportion |
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|
Wines, etc |
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. Qiu 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. Qiu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
|
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.