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Report Date : |
06.09.2013 |
IDENTIFICATION DETAILS
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Name : |
TAH LEE TEXTILE CO., LTD. |
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Registered Office : |
No.290, Sec.2,
Chang-Hsin Road, Homei Town, Chang-Hwa Hsien. |
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Country : |
Taiwan |
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Date of Incorporation : |
13.01.1965 |
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Com. Reg. No.: |
58013502 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· manufacturer and processor of cottons spinning, weaving, dyeing and finishing ·
trading
of air spinning, T/C, CVC, blended yarn. |
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|
|
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No. of Employees : |
About 120
Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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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.
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Source : CIA |
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Company Name: |
|
|
Supplied Name: |
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Trading Address: |
No.290, Sec.2, Chang-Hsin Road., Homei Town, Chang-Hwa Hsien, Taiwan,
R.O.C |
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Supplied
Address: |
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Telephone
Number: |
+886-4-7351127-9 |
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Fax Number: |
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E-mail: |
Notes:
The supplied address is incomplete, and the exact address is above.
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Credit Opinion: |
Subject was incorporated on 1965-01-13 with registered number 58013502 as Limited Liability Company in Taiwan.
|
Name |
Subscription shares |
|
Zonghui Wei |
258,726 |
|
Zongxian Wei |
495,000 |
|
Huang Chen |
112,000 |
|
Yu Wei Investment Co., Ltd (translated) |
285,900 |
|
Zongze Wei |
495,000 |
|
Ling e Wei |
165,000 |
|
Juncheng Chen |
454,600 |
|
Xianxi Chen |
359,800 |
|
Bojia Co., Ltd (translated) |
494,119 |
|
Chuangyuan Development Co., Ltd
(translated) |
490,800 |
|
Lihua Wang |
495,000 |
|
Lingchen Wei |
221,084 |
|
Jingxiang Fang |
495,000 |
|
Jinshunyi Co., Ltd (translated) |
868,477 |
The information above is that of subject’s major shareholders.
Core Management
|
1 |
|
|
Name |
Zonghui Wei |
|
Position |
President |
|
Date of
Appointment |
1981-01-13 |
|
2 |
|
|
Name |
Zongxian Wei |
|
Position |
Managing
director |
|
3 |
|
|
Name |
Huang Chen |
|
Position |
Managing
director |
|
4 |
|
|
Name |
Mengqing Guo |
|
Position |
Director |
|
5 |
|
|
Name |
Kunnong Chen |
|
Position |
Director |
|
6 |
|
|
Name |
Zongze
Wei |
|
Position |
Director |
|
7 |
|
|
Name |
Ling e Wei |
|
Position |
Director |
|
8 |
|
|
Name |
Juncheng Chen |
|
Position |
Director |
|
9 |
|
|
Name |
Xianxi Chen |
|
Position |
Director |
|
10 |
|
|
Name |
Jiexi Chen |
|
Position |
Director |
|
11 |
|
|
Name |
Liyue Pan |
|
Position |
Director |
|
12 |
|
|
Name |
Junyuan Chen |
|
Position |
Director |
|
13 |
|
|
Name |
Lihua Wang |
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Position |
Director |
|
14 |
|
|
Name |
Lingchen Wei |
|
Position |
Director |
|
15 |
|
|
Name |
Jingxiang Fang |
|
Position |
Director |
|
16 |
|
|
Name |
Baichuan Huang |
|
Position |
Director |
|
17 |
|
|
Name |
Zhanqin
Liang |
|
Position |
Supervisor |
|
18 |
|
|
Name |
Qingliang Wei |
|
Position |
Supervisor |
|
19 |
|
|
Name |
Zhenxi Wei |
|
Position |
Supervisor |
|
20 |
|
|
Name |
Yage Wei |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 120 Employees |
Offices &
Factories
|
|
Headquarters |
|
Address |
No.290, Sec.2, Chang-Hsin
Road., Homei Town, Chang-Hwa Hsien. |
Production
Information
l
Subject is a
manufacturer and processor of cottons and the related products with the
production activities
Purchase
Information
l
The registered
activities of subject:
|
|
Details |
|
1 |
Business about spinning, weaving, dyeing and finishing and other
related business |
|
2 |
Import and export of the
products above. |
|
3 |
The investment business and
the related business as above |
l
The raw materials for
production are purchased from both local and abroad.
l
Subject is mainly
engaged in manufacturing, processing and trading of air spinning, T/C 、CVC, blended
yarn and so on.
l
Subject introduced that it purchase textiles leather and eiderdown
products from both local and abroad.
l
Subject’s selling territory covers domestic market and overseas market.
l
Subject declined to disclose more details.
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Subject declined the settlements information, and from other sources, we couldn’t obtain the information, either.
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. Wei declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
Subject did not introduce its bank details; from other source we cannot obtain the relevant information, either.
Mortgage
|
Certification
Number |
089606 |
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Debtor Name |
Tah Lee Textile
Co., Ltd. |
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Registration
Number |
09505198800 |
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Date of
Registration |
2006/12/26 |
|
Types of Cases |
Chattel mortgage |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Mr. Chan |
|
Position |
Manager |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.04 |
|
UK Pound |
1 |
Rs.103.11 |
|
Euro |
1 |
Rs.86.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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.