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Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ELG METALS TAIWAN CORPORATION |
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|
|
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Registered Office : |
No.1, Ln. 33, Zhunan Rd., Renwu Dist.,
Kaohsiung City 814 |
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|
|
|
Country : |
Taiwan |
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Date of Incorporation : |
26.10.2007 |
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Com. Reg. No.: |
28601222 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of metal scrap and etc. |
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|
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.1, Ln. 33,
Zhunan Rd., Renwu Dist., Kaohsiung City 814, Taiwan (R.O.C.) |
|
Supplied Address: |
No. 1 LN-33,
Zhunan Rd., renwu Dist kaohsiung City 81448 Taiwan |
|
Telephone Number: |
+886-7-963-5588 |
|
Fax Number: |
Notes: The exact name and address are as
above.
|
Registered Name: |
ELG METALS TAIWAN CORPORATION |
|
Registered Address: |
No.1, Ln. 33, Zhunan Rd.,
Renwu Dist., Kaohsiung City 814, Taiwan (R.O.C.) |
|
Date of Foundation: |
2007-10-26 |
|
Registration Number: |
28601222 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 526,255,000 (USD
17,629,543) (As of 2013.5, 1 NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 526,255,000 (USD 17,629,543) |
|
Legal Representatives: |
Guozhang Hu |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Notes: Subject declined to disclose its staff number; from
other source we cannot obtain the relevant information, either.
Subject was incorporated
on 2007-10-26 with registered number 28601222
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
447,405 |
|
|
Jingnan Lin |
|
|
78,850 |
The information above is that of subject’s major shareholders.
Related Companies
|
Name |
|
|
Address |
11F., No. 8, Ming Cheng 4th Rd, Gushan District, Kaohsiung City 804,
Taiwan |
|
Telephone Number |
+886-7-522-5656 |
|
Fax Number |
+886-7-522-6969 |
Core Management
Directors
|
1 |
|
|
Name |
Guozhang Hu |
|
Position |
Board Chairman |
|
Date of Appointment |
2007-10-17 |
|
2 |
|
|
Name |
Terrence, Brown |
|
Position |
Director |
|
3 |
|
|
Name |
Detelefu Delafuci (Liberal translation) |
|
Position |
Director |
|
4 |
|
|
Name |
Jingnan Lin |
|
Position |
Director |
|
Date of Appointment |
|
|
5 |
|
|
Name |
Norbert Spock |
|
Position |
Supervisor |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.1, Ln. 33, Zhunan Rd., Renwu Dist., Kaohsiung City 814, Taiwan
(R.O.C.) |
Production
Information
Subject is a trader of metal
scrap and etc without any production activities
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
CA01070 |
Disintegration of waste transport and iron and steel scrap metal
processing industry, |
|
F199010 |
Wholesale of recovered materials. |
|
F299990 |
Other retails. |
|
F401010 |
International trading business. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
It is introduced that subject purchases products mainly in domestic
market.
The subject is mainly engaged in sales of metal scrap and etc.
It is introduced that subject’s selling
territory covers all over the world.
It is introduced that subject’s major
customers are steel plant, forge plants and etc.
Major Products
|
1 |
Stainless Steel Scrap |
|
2 |
Special Alloys |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Metal scrap and etc. |
COD, CBD and etc |
100% |
Foreign Purchase
The subject has little
import.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Metal scrap and etc. |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Metal scrap 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 operator 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 |
The Operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
|
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
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.