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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
EVERGREEN PACKAGING (TAIWAN) CO., LTD. |
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Registered Office : |
Hsinchu Industrial Park, 5, Industrial One
Road, Hukou Hsiang, Hsinchu Hsien |
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Country : |
Taiwan |
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Date of Incorporation : |
12.01.1984 |
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Com. Reg. No.: |
09444482 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of cartons and boxes |
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No. of Employees : |
About 90 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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.
|
Source
: CIA |
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Company Name: |
Evergreen Packaging (Taiwan) Co., Ltd. |
|
Supplied Name: |
EVERGREEN PACKAGING (TAIWAN) CO LTD. |
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Trading Address: |
7F, No. 151, Sec. 3, Hsin-Yi Road, Taipei,
Taiwan, R.O.C. |
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Supplied Address: |
No. 5 Industrial One Road Hukou Hsiang
hsinchu Hsien 303 |
|
Telephone Number: |
+886-2-2709-3232 |
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Fax Number: |
+886-2-2709-3366 |
Notes: The exact name and address are as above
and the supplied address belongs to subject’s factory.
|
Registered Name: |
EVERGREEN PACKAGING (TAIWAN) CO., LTD. |
|
Registered Address: |
Hsinchu Industrial Park, 5, Industrial One
Road, Hukou Hsiang, Hsinchu Hsien, Taiwan, R.O.C. |
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Date of Foundation: |
1984-1-12 |
|
Registration Number: |
09444482 |
|
Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2013.09, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 1,000,000 (USD 34,000) |
|
Legal Representatives: |
John Philip Rooney |
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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 1984-1-12 with registered number 09444482
as Joint Stock Company in
Taiwan.
|
Former English Name |
International Paper Taiwan Limited |
|
Current English Name |
Evergreen Packaging (Taiwan) Co., Ltd. |
|
Name |
Subscription Shares |
|
Evergreen Packaging International B.V. |
1,000 |
The information above is that of subject’s major shareholders.
Parent Compoany
|
Name: |
|
|
Address: |
Netherlands |
Factory
|
Address: |
Hsinchu Industrial Park, 5, Industrial One
Road, Hukou Hsiang, Hsinchu Hsien, Taiwan, R.O.C. |
|
Tel: |
+886-35-982816 |
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Fax: |
+886-35-981346 |
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Date of Foundation: |
1984-5-18 |
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Date of Registration: |
1985-9-7 |
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Factory Registration Number: |
99631051 |
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Factory Manager: |
Qinghua Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2009-6-12 |
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Major Products: |
152 Paper container |
Related Companies
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1 |
|
|
Name |
Evergreen Packaging, Inc |
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Address |
2400 6th Street SW, Cedar Rapids, IA 52404, USA |
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2 |
|
|
Name |
Evergreen Packaging Company Ltd |
|
Address |
450 Jin Hai Road, Jin Qiao Export Processing Zone, Pu Dong, Shanghai,
China 201206 |
Core Management
Directors
|
1 |
|
|
Name |
John Philip Rooney |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Allan Frank Lips |
|
Position |
Director |
|
3 |
|
|
Name |
Qinghua Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Tricia Yun Chong Han |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 90 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject is engaged in manufacturing of cartons and boxes, etc.
Subject has a factory in Hsinchu
Hsien, Taiwan for production.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacturing of food packaging and non-food packaging box, container
and its related products (made of uncoated, coated cloth or laminated paper,
paper board and other bended materials) |
|
2 |
Purchasing products for its parent company and its related companies |
|
3 |
Import the food packing paper which manufactured by parent company |
|
4 |
Import liquid beverage and food packing machines which manufactured by
parent company |
|
5 |
General import and export business (besides licensed business) |
|
6 |
Agent, price quoting, bidding service, import and export of all kinds
of above mentioned items (besides
future goods) |
|
7 |
Renting of food packing machines (besides licensed business) |
The raw materials for production are mostly purchased in domestic
market.
It is introduced that subject also purchases some machines from its
related companies in America, etc.
Subject is engaged in sale of cartons and boxes, etc.
Subject’s sales regions include Taiwan domestic market, Hong Kong,
Southeast Asia and America, etc.
The products sold by subject are applied to packaging of dairy,
beverage, juice, and tea, etc.
One of subject’s major customers is their related company in USA called
Evergreen Packaging, Inc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials,
etc |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Machines, etc |
Interior
Settlement, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Cartons and
boxes, etc |
Cash, T/T, etc |
Export
|
Terms |
Proportion |
|
|
Cartons and
boxes, 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 Ms. Zeng 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. Zeng |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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 |
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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 |
|
---- |
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.