MIRA
INFORM REPORT
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Report Date : |
22.11.2013 |
IDENTIFICATION DETAILS
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Name : |
MAGALI TRADING CO., LTD. |
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Registered Office : |
2F, No.108, Sec.2, Chang Nan Road, Changhwa
City |
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Country : |
Taiwan |
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Date of Incorporation : |
19.06.1979 |
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Com. Reg. No.: |
12231456 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Dissolved |
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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 |
Contact
Points
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Company Name: |
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Supplied Name: |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
Note: Subject’s exact registered name is as above
and the supplied name is the one responsible for foreign sales business.
Registration files show subject is dissolved
and its relevant staff Ms. Zeng declined to disclose whether the supplied
address belongs to her company now. So we cannot confirm subject current
trading address at present.
Special
Notes
Registration files show that subject has been
dissolved since
Company
Identification Details
|
Registered Name: |
MAGALI TRADING CO., LTD. |
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Registered Address: |
2F, No.108, Sec.2, Chang Nan Road, Changhwa
City, Taiwan, R.O.C. |
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Date of Foundation: |
1979-6-19 |
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Date of Dissolved |
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Registration Number: |
12231456 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
NTD
1,300,000 (USD 44,200) (As of 2013.11, 1 NTD = 0.0340 USD) |
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Legal Representatives: |
Xiujin Lin |
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Legal Form: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Notes: Subject has been dissolved
and the registration information in the report ended on 2011-1-5.
History
Subject was incorporated
on 1979-6-19 with registered number 12231456 as Private Limited Liability
Company in Taiwan.
Subject has been dissolved since
Shareholders
Since subject is dissolved now, the shareholder is not available from
the subject or other sources.
Personnel
Information
Core Management
Since subject is dissolved now, the management information is not available
from the subject or other sources.
Operation
Information
Offices &
Factories
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|
Office |
|
Add |
Rm.807, No. 29, Lane77, Sec.2 Chung-Shan N. Road Taipei, Taiwan, R.O.C |
Operation
Information
From public files we found subject was a trader of synthetic rubber, etc,
Subject purchased products mainly from abroad
such as Russia.
Subject’s sales region was mainly in domestic
market.
From Taiwan registry, subject’s registered files show it was dissolved
since 2011-10-4. When we called
subject, Ms. Zeng declined to disclose any information about subject. So the
operation information above is not confirmed by subject.
Settlements
Subject declined to disclose the settlements information,
and from other sources, we couldn’t obtain the information, either.
Financial
Information
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 has been dissolved, thus the
financials are not available.
Bankers
The bankers’ information is not available from the subject or other
sources.
Public
Record
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.
Interview
Details
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Name: |
Ms. Zeng |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.89 |
|
|
1 |
Rs.101.14 |
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Euro |
1 |
Rs.84.42 |
INFORMATION DETAILS
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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 |
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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.