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Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
JUNG DI HSING INDUSTRY CO., LTD. |
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Registered Office : |
11th FL., No.168, Min Sheng E. Rd., Sec.2,
Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
15.09.1966 |
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Com. Reg. No.: |
49394207 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of shoes |
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No. of Employees : |
About 5,000 Employees (Group) |
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 |
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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: |
|
|
Supplied Name: |
|
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Trading Address: |
11th FL., No.168, Min Sheng E. Rd., Sec.2,
Taipei, Taiwan, R.O.C. |
|
Supplied Address: |
11FL 168 Min Sheng East Rd Section 2
Chungshan Dist Taipei City 104 |
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Telephone Number: |
+886-2-2501-5787 |
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Fax Number: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1966-9-15 with registered
number 49394207 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Yanqing Lu |
2,456,564 |
|
Yanxian Lu |
|
|
2,427,834 |
|
|
Biman Lu |
865,014 |
The information above
is that of subject’s major shareholders.
Branch Companies
|
Name |
Taipei Branch |
|
Registration
Number |
86928350 |
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Date of
Registration |
7th FL., No.168, Min Sheng E. Rd., Sec.2, Taipei, Taiwan, R.O.C. |
|
Date of Foundation: |
1993-1-12 |
|
Status
|
Live
company |
|
Manager Name |
Zhijian Jiang |
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Date of Last
Annual Return |
1993-1-12 |
Factories
|
Address: |
No.86, Yuanli
Township, Miaoli County, Taiwan (R.O.C.) |
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Date of Foundation: |
1970-3-12 |
|
Date of Registration: |
1970-3-12 |
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Factory Registration Number: |
99631686 |
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Factory Manager: |
Yanqing Lu |
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Status: |
In Production |
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Date of Last Annual Return: |
2011-3-31 |
|
Major Products: |
130 Products of
leather and fur 210 Rubber
products 220 Plastic
products 271 Computer and
related equipment 272
Communications equipment 269 Other
electronic components |
|
Telephone Number |
+886-3-786-2161 |
|
Fax Number |
+886-3-786-0631 |
Notes: It is introduced that
subject has factories in Shenzhen City and Guangzhou City, Guangdong Province,
Sichuan Province, the mainland of China, but the subject declined to disclose
details for us, and we cannot obtain the related information from any valid
sources, either.
Core
Management
Directors
|
1 |
|
|
Name |
Yanqing Lu |
|
Position |
Board Chairman |
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Date of
Appointment |
1996-10-7 |
|
2 |
|
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Name |
Yanxian Lu |
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Position |
Director |
|
3 |
|
|
Name |
Ziying Lu |
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Position |
Director |
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4 |
|
|
Name |
Biman Lu |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 5,000 Employees
(Group) |
Offices
& Factories
|
|
Headquarters |
|
Add |
11th FL., No.168, Min Sheng E. Rd., Sec.2, Taipei, Taiwan, R.O.C. |
Production
Information
l
The subject is a manufacturer of shoes and etc.
l
It is introduced that subject has factories in
Taiwan and the mainland of China for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing, processing and sales of plastic
and rubber products, toys, sport shoes, leisure shoes, sports equipment,
electronic products, related equipment of computer, optoelectronic
semiconductor, and above related components. |
|
-- |
Building, leasing and sales of commercial
buildings and public housing |
|
-- |
Introduction of renting house. |
|
-- |
Exporting of equipment for the wholes factory and
transfer of related technologies. |
|
-- |
Manufacturing, processing and sales of
ultraviolet radiation sterilization raw drinking machines and water
purifiers. |
|
-- |
Manufacturing, processing and sales of wired and
wireless communication equipment. |
|
-- |
Importing and exporting of above related
products. |
l
It is introduced that subject purchases raw
materials and etc both at home and abroad.
l
The subject is mainly engaged in sales of shoes and
etc.
l
It is introduced that subject’s major products
include baseball shoes, safety shoes, leisure shoes, sports shoes and etc.
l
It is introduced that subject’s selling territory
includes America, Europe, Japan, Canada, Singapore, China and etc.
l
It is introduced that subject’s major customers
distributors of garment an accessories, etc.
l
It is introduced that subject can provide the OEM
and ODM services.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
(Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Raw materials
and etc |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials
and etc |
CBD and etc |
100% |
Sales
Domestic Markets (Taiwan and Mainland, China)
|
Sales Terms |
Proportion |
|
|
Shoes and etc |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Shoes and etc |
CBD and 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. Yu declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
|
Name |
Bank of Taiwan |
Mortgage
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
028716 |
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Debtor Name: |
Jung Di Hsing Industry Co., Ltd. |
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Document Number: |
259902 |
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Date of Registration: |
1987-9-29 |
|
Date of Alteration: |
1987-9-29 |
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Status: |
Pay off |
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Yu |
|
Department |
Sale Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
UK Pound |
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.