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Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
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Name : |
TAIWAN BUTYL CO., LTD. |
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Registered Office : |
5F.-3, No.195, Sec. 2, Chunjing Rd., Luodong Township, Yilan County 26549 |
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Country : |
Taiwan |
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Date of Incorporation : |
06.03.1987 |
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Com. Reg. No.: |
22403246 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
subject is a trader of rubber products without any production activities. |
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No. of Employees : |
About 40 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.
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Source : CIA |
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Company Name: |
Taiwan Butyl Co., Ltd. |
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Supplied Name: |
SPORTS FORCE CO LTD. |
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Trading Address: |
5F.-3, No.195, Sec. 2, Chunjing Rd., Luodong Township, Yilan County
26549, Taiwan (R.O.C.) |
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Supplied Address: |
No. 12, LN-228, Sec, 1 Qinhe Road, Wujie Township, Yilan County, 26841 |
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Telephone Number: |
+886-3-961-5592 |
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Fax Number: |
+886-3-961-5581 |
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E-mail: |
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Website: |
Notes: The supplied name is belonging to the subject, but it is rarely used now,
and the exact name is as above. The supplied address is subject’s previous contact address and exact address
is above.
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Credit Opinion: |
|
Registered Name: |
Taiwan Butyl Co., Ltd. |
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Registered Address: |
5F.-3, No.195, Sec. 2, Chunjing Rd., Luodong Township, Yilan County
26549, Taiwan (R.O.C.) |
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Date of Foundation: |
1987-3-6 |
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Registration Number: |
22403246 |
|
Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2013.07, 1 NTD = 0.0335 USD) |
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Paid-up Capital: |
NTD 12,000,000 (USD 402,000) |
|
Legal Representatives: |
Kehua Zhou |
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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 1987-3-6 with registered
number 22403246 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Kehua Zhou |
2,750 |
| Hongjian
Zhou |
1,500 |
|
Limei Chen |
1,300 |
|
Houzhu Yan |
250 |
The information
above is that of subject’s major shareholders.
It is introduced
that subject has a related in the mainland of China, but subject declined to
disclose further information for us, and we cannot get related information from
any valid sources.
Core
Management
Directors
|
1 |
|
|
Name |
Kehua Zhou |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Hongjian Zhou |
|
Position |
Director |
|
3 |
|
|
Name |
Limei Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Houzhu Yan |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 40 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
5F.-3, No.195, Sec. 2, Chunjing Rd., Luodong Township, Yilan County
26549, Taiwan (R.O.C.) |
Production
Information
l
The subject is a trader of rubber products without any production activities.
l
It is introduced that
subject has a related factory in the mainland of China.
l
It is introduced that the monthly production
capacity of subject’s related factory is about 900,000 pieces of ball bladder.
Purchase
Information
l
The registered activities of subject:
|
|
Details |
|
1 |
Processing, manufacturing and sales of industrial
force rubber, sheet rubber and rubber ring. |
|
2 |
Processing, manufacturing and sales of balls for
sports (basketball, football, volleyball, rugger) |
|
3 |
Trading of nature rubber materials, artificial
rubber materials and other processing materials. |
|
4 |
Importing and exporting business of above related
business. |
|
5 |
Agent, bidding and marking price of products of
domestic and overseas manufacturers. |
|
6 |
Operation and investment of above business. |
l
It is introduced that subject purchases products mainly
in domestic market.
l
The subject is mainly engaged in sales of rubber products.
l
It is introduced that
subject’s selling territory includes Pakistan, India, Brazil, China, etc.
l
It is introduced that
subject’s major customers are manufacturers of balls.
l
It is introduced that
subject has own brand named “Taiwan Butyl”.
Major Products
|
|
Product |
|
1 |
Butyl Bladders |
|
2 |
Rubber Bladders |
|
3 |
Valve Housings & Cores |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Ball bladders |
COD, CBD and
etc. |
100% |
Foreign Purchase
The subject has little
import.
Sales
Domestic Markets
(Taiwan, Mainland, China)
|
Product |
Sales Terms |
Proportion |
|
Ball bladder, etc |
COD, CBD, etc |
100% |
Export
|
Product |
Sales Terms |
Proportion |
|
Ball bladder, etc |
CBD, etc |
100% |
Notes: Subject’s settlement for export is generally in USD
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. Zhou 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. Zhou |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
UK Pound |
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.