MIRA INFORM REPORT
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Report Date : |
14.05.2013 |
IDENTIFICATION DETAILS
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Name : |
GI-CHUN CO., LTD. |
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Registered Office : |
No.73, Shin Hay Rd., Dzuo-En Dist.,
Kaohsiung |
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Country : |
Taiwan |
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Date of Incorporation : |
09.07.1990 |
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Com. Reg. No.: |
23652502 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of cleaning supplies and kendo
supplies, etc |
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No. of Employees : |
About 10 Employees |
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 : |
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 |
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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: |
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Supplied Address: |
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Telephone Number: |
+886-7-556-1785 |
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Fax Number: |
+886-7-556-2088 |
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E-mail: |
Notes: The exact name and address are as
above.
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Registered Name: |
GI-CHUN CO., LTD. |
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Registered Address: |
No.73, Shin Hay Rd., Dzuo-En Dist.,
Kaohsiung Taiwan R.O.C. |
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Date of Foundation: |
1990-7-9 |
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Registration Number: |
23652502 |
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Registry: |
Economic Development Board of Kaohsiung City
Government |
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Registered Capital: |
NTD 5,000,000 (USD 170,000) (As of 2013.05, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 5,000,000 (USD 170,000) |
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Legal Representatives: |
Cailuan Ye |
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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 1990-7-9 with registered number 23652502
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Cailuan Ye |
1,000 |
|
Yamei Li |
1,000 |
|
Yongsheng Li |
1,000 |
|
Ninghan Li |
1,000 |
The information above is that of subject’s major shareholders.
Related Companies
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1 |
|
|
Name |
Taiwan Sekishindo Co., Ltd. |
|
Address |
No.73, Shin Hay Rd., Dzuo-En Dist.,
Kaohsiung Taiwan R.O.C. |
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2 |
|
|
Name |
Beihai Sekishindo Cleaning Equipment Co., Ltd. |
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Address |
Pingtouling Industrial Development Zone, Hepu County, Beihai City, Guangxi
Province, China |
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Telephone Number |
+86-779-208-1130 |
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3 |
|
|
Name |
Huimin Sekishindo Cleaning Equipment Co., Ltd. |
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Address |
Shenqiao Town, Huimin County, Shandong Province, China |
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Telephone Number |
+86-543-577-1496 |
Related Factory
|
Name |
Qiedong Factory |
|
Address |
No.46-2, Shang Qiedong, Jiatian Village, Houbi Township, Tainan
County, Taiwan, R.O.C. |
|
Telephone Number |
+886-6-688-1925 |
Core Management
Directors
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1 |
|
|
Name |
Cailuan Ye |
|
Position |
Board Chairman |
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2 |
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Name |
Yamei Li |
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Position |
Director |
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3 |
|
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Name |
Yongsheng Li |
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Position |
Director |
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4 |
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Name |
Ninghan Li |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 10 Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
Production
Information
Subject is a trader of cleaning
supplies and kendo supplies, etc without any production activities.
Purchase
Information
The registered activities of subject:
|
-- |
Trading of straw, straw mat, sisal, bamboo and rattan, wood carving,
vegetable, fruit, handicraft, broom, brush, mop, feather duster, winnowing
pan |
|
-- |
Trading of sports goods such as the products of kendo, karate, judo,
taekwondo, wushu (except restricted articles) |
|
-- |
Import and export business of above business |
Subject purchases cleaning
supplies from their related factories in Tainan, Taiwan and mainland
China, etc.
It is introduced that some kendo
supplies are purchased from abroad such as Japan, etc.
Subject is engaged in sale of cleaning
supplies and kendo supplies, etc.
The major products sold by subject include broom, floor brush, bamboo
sword, dobok, and protective clothing, etc.
Subject’s sales regions include Taiwan domestic market, Mainland China,
Japan, South Korea and Spain, etc.
The cleaning supplies sold by subject are made of straw, sisal, bamboo
and rattan, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase (Taiwan and Mainland,
China)
|
Payment Terms |
Proportion |
|
|
Cleaning
supplies, etc |
Interior
Settlement, Cash, T/T, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Kendo supplies,
etc |
L/C, T/T, etc |
100% |
Sales
Domestic Markets (Taiwan and Mainland,
China)
|
Sales Terms |
Proportion |
|
|
Cleaning
supplies and kendo supplies, etc |
Cash, T/T, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Cleaning
supplies and kendo supplies, etc |
L/C, T/T, 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.
|
Name |
the chines bank |
Note: The 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 |
Mr. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.91 |
|
|
1 |
Rs.84.44 |
|
Euro |
1 |
Rs.71.31 |
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 |
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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 |
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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.