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Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
YE SIANG
ENTERPRISE CO., LTD. |
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Registered Office : |
5F, No.5, Chien Kang
Rd., Zhonghe Dist., New Taipei City 235, |
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Country : |
Taiwan |
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Date of Incorporation : |
16.06.1987 |
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Com. Reg. No.: |
22466564 |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Trading of
equipment and etc air filter development and AMC control |
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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 |
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Status : |
Moderate |
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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) |
|
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: |
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|
Supplied Name: |
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|
Trading Address: |
5F, No.5, Chien Kang Rd., Zhonghe Dist., New Taipei City 235, Taiwan
(R.O.C.) |
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Supplied Address: |
|
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Telephone Number: |
+886-2-2225-7858 |
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Fax Number: |
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|
E-mail: |
Notes: The exact
name and address are as above.
Notes: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
Subject was incorporated on 1987-6-16 with registered number 22466564 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Jinde Zhuang |
5,650,000 |
|
Yanzhu Xu |
|
|
3,450,000 |
|
The information above is that of subject’s major shareholders.
Reated Factory
|
Address: |
5F, No.5, Chien Kang Rd., Zhonghe Dist., New Taipei City 235, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1992-3-16 |
|
Date of
Registration: |
1992-3-28 |
|
Factory
Registration Number: |
99690295 |
|
Factory Manager: |
Jinde Zhuang |
|
Status: |
In Production |
|
Date of Last Annual
Return: |
2003-4-22 |
|
Major Products: |
281 Machinery for Electricity generation, electricity transmission and distribution of electricity 283 Electric wire and wiring accessories 289 Other electrical equipment |
Core Management
Directors
|
1 |
|
|
Name |
Jinde Zhuang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yanzhu Xu |
|
Position |
Director |
Offices & Factories
|
|
Headquarters |
|
Add |
5F, No.5, Chien Kang Rd., Zhonghe Dist., New Taipei City 235, Taiwan (R.O.C.) |
Production Information
Subject is a trader of equipment and etc air filter development and AMC control without any production activities.
It is introduced that subject just registered factory in local registry, but the subject doesn’t have any production activities.
Purchase Information
The registered activities of subject:
|
|
Details |
|
1 |
Trading of measuring instruments directives, thermometer, pressure gauge, volumenometer, speedometer, heat flux meter, densitometer, energy meter and noise needle. |
|
2 |
Trading of mechanical electrical materials, industrial chemicals, and combination, installation and processing for related instrument. |
|
3 |
Trading of hardware, components and parts of automobile. |
|
4 |
Trading of groceries (besides handicraft works, pottery, glassware, plastic toys, electric toy) furniture (chair, tables) food (tea, can) and etc. |
|
5 |
Trading and related maintenances of equipment air pollution treatment facilities, noise control equipment, waste water treatment equipment and related equipment and materials. |
|
6 |
Trading of dehumidiers and air cleaners. |
|
7 |
Importing and exporting of above related products. |
|
8 |
Agent of marking prices, bidding and sales of domestic and overseas manufacturers’ related products. |
It is introduced that subject imports its products mainly from USA and etc.
Major Supplier
|
1 |
|
|
Name |
Purafil, Inc. |
|
Address |
2654 Weaver Way Doraville, Georgia 30340 United States of America |
|
Telephone |
+1-770-662-8545 |
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Fax |
+1-770-263-6922 |
|
2 |
|
|
Name |
American Air Filter Company, Inc. |
|
Address |
Louisville, KY, USA |
The subject is mainly engaged in sales of equipment and etc air filter development and AMC control.
It is introduced that subject’s selling territory is mainly in Taiwan domestic market.
It is introduced that subject’s major customers are semiconductor manufacturers, steel industry, textile and fiber industry, paper and pulp mills to pharmaceutical companies and hospitals, etc.
It is introduced that subject is an agent of two American brands named “Purafil” and “AAF”.
Major Products
|
|
Product |
|
1 |
Purafil Media |
|
2 |
Air Filters |
|
3 |
Environmental Monitoring Tools |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchas
The subject has little purchase in domestic market.
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Equipment and etc air filter development and AMC control |
CBD and etc |
100% |
Sales
Domestic Markets (Taiwan)
|
Sales Terms |
Proportion |
|
|
Equipment and etc air filter development and AMC control |
COD, CBD and etc |
100% |
Export
The 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. Zhuang 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 |
Mr. Zhuang |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.30 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.83.15 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.