MIRA INFORM REPORT
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Report Date : |
20.05.2013 |
IDENTIFICATION DETAILS
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Name : |
SOUND SKETCH CORPORATION |
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Registered Office : |
5F., No.276, Sec. 3, Beishen Rd., Shenkeng
Dist., New Taipei City 22206 |
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Country : |
Taiwan |
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Date of Incorporation : |
16.07.2008 |
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Com. Reg. No.: |
29045174 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of musical instrument, etc |
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No. of Employees : |
About 10 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 : |
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 |
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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: |
5F., No.276,
Sec. 3, Beishen Rd., Shenkeng Dist., New Taipei City 22206, Taiwan (R.O.C.) |
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Supplied Address: |
1456, 5F, No.
276, Beishen Road, 22206, New taipei City Taiwan |
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Telephone Number: |
+886-2-2662-9565 |
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Fax Number: |
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E-mail: |
The exact name and address are as above.
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Registered Name: |
SOUND SKETCH CORPORATION |
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Registered Address: |
5F., No.276, Sec. 3, Beishen Rd., Shenkeng
Dist., New Taipei City 22206, Taiwan (R.O.C.) |
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Date of Foundation: |
2008-7-16 |
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Registration Number: |
29045174 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
NTD 8,000,000
(USD 272,000) (As of 2013.05, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 8,000,000 (USD 272,000) |
|
Legal Representatives: |
Qiongying Guo |
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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 2008-7-16 with registered number 29045174
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Qiongying Guo |
120,000 |
|
Yongkai Guo |
|
|
320,000 |
|
|
Shouqing Guo |
80,000 |
|
Yuhua Xu |
200,000 |
The information above is that of subject’s major shareholders.
Core Management
Directors
|
1 |
|
|
Name |
Qiongying Guo |
|
Position |
Board Chairman |
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2 |
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Name |
Yongkai Guo |
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Position |
Director |
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3 |
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Name |
Shouqing Guo |
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Position |
Director |
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4 |
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Name |
Yuhua Xu |
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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 |
5F., No.276, Sec. 3, Beishen Rd., Shenkeng Dist., New Taipei City
22206, Taiwan (R.O.C.) |
Production
Information
Subject is a trader of musical instrument, etc without any production
activities.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F109070 |
Wholesale of stationery, musical instrument, entertainment products |
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F113020 |
Wholesale of electrical equipment |
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F118010 |
Wholesale of software |
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F209060 |
Retail of stationery, musical instrument, entertainment products |
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F213010 |
Retail of electrical equipment |
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F218010 |
Retail of software |
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F399040 |
No store retail business |
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F401010 |
International trade business |
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J602010 |
Entertainment activities industry |
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JA02010 |
Repairing of electrical equipment and electronic products |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
Subject purchases products mainly from abroad
such as UK, Germany, USA, and Japan, etc.
Subject is engaged
in sale of musical instrument, etc.
The major products sold by subject include
keyboard, guitar, synthesizer, microphone, and speaker box, etc.
Subject’s sales region is mainly in Taiwan
domestic market.
Subject is the agent of the brand “KORG”,
“VOX”, “Fujigen”, “Schecter”, “Seymour Duncan”, “KRK”, “Stanton”, “Native
Instruments”, “Charvel”, “Tom Anderson”, “Ableton”, “Spectraflex”, “Nord”, and
“Focusrite”, etc.
It is introduced that customers can buy
subject’s products through internet.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
Subject has little domestic purchase.
Foreign
Purchase
|
Payment Terms |
Proportion |
|
|
Musical instrument, etc |
L/C, T/T, etc |
100% |
Sales
Domestic
Markets
|
Sales Terms |
Proportion |
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|
Musical instrument, 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 Mr. Guo declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
|
Name |
Chang Hwa Bank Muzha Branch |
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Account No.: |
5352-01-002055-00 |
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. Guo |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.83.66 |
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Euro |
1 |
Rs.70.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
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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 |
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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.