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Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
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Name : |
CHIU SHENG CO., LTD. |
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Registered Office : |
Rm.1305, No.206, Sung Chiang Road, Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
17.07.1978 |
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Com. Reg. No.: |
12255766 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
· engaged in trading of frozen food including frozen sea food and related aquatic products · Engaged in manufacturing and trading of various food and rice · Engaged in textile clothing stationery printing, paper tableware, boiler cooker, bamboo wood furniture and packaging materials of fruits and vegetables · Engaged in trading of ceramics arts and crafts, audio combination equipment and department store building materials. · Engaged in buying and sale of aquaculture fish electronic components |
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No. of Employees |
About 5 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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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. Taiwan's diplomatic isolation, low birth rate,
and rapidly aging population are other major long-term challenges. Free trade
agreements have proliferated in East Asia over the past several years, and
following the landmark Economic Cooperation Framework Agreement (ECFA) signed
with China in June 2010, Taiwan in July 2013 signed a free trade deal with New
Zealand—Taipei’s first-ever with a country with which it does not maintain
diplomatic relations—and in November inked a trade pact with Singapore.
Negotiations continue on follow-on components of ECFA regarding trade in goods
and a dispute resolution mechanism; a trade in services agreement is under
review in the legislature. 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
overall trade surplus largely because of its surplus with China, and its foreign
reserves are the world's sixth largest, behind China, Japan, Saudi Arabia,
Russia, and Switzerland. 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. Taiwan since 2009 has gradually
loosened rules governing Chinese investment on the island, and has also secured
greater market access for its investors in the mainland. 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: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
+886-2-2567-3838 |
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Fax Number: |
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
Subject was incorporated on 1978-7-17 with registered number 12255766 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Wang Li |
4,200,000 |
The information above is that of subject’s major shareholders.
Core Management
|
Name |
Wang Li |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 5 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a trader of frozen food without any
production activities.
Purchase Information
l
The registered activities of subject:
|
|
Details |
|
1 |
Manufacturing and trading of various food
and rice |
|
2 |
Textile clothing stationery printing,
paper tableware, boiler cooker, bamboo wood furniture and packaging materials
of fruits and vegetables, |
|
3 |
Trading of ceramics arts and crafts, audio
combination equipment and department store building materials. |
|
4 |
Buying and sale of aquaculture fish
electronic components |
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5 |
The distribution and agent business of
domestic and foreign products |
|
6 |
Business and investment enterprises
concerned |
l
The products of the subject are both purchased at
home and abroad.
l Subject is engaged
in sale of frozen food
l
The major products sold by subject include frozen
sea food and related aquatic products
l
Subject mainly sells the products in Taiwan and
surrounding countries.
l
Subject’s major customers are hotel, restaurants,
supermarkets, shops.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Terms |
Proportion |
|
|
Frozen
food, etc. |
T/T,
Cash, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Frozen
food, etc. |
L/C,
T/T, etc |
100% |
Sales
Domestic Markets
(Taiwan)
|
Terms |
Proportion |
|
|
Frozen
food, etc. |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Frozen food, 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 declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name: |
Hua Nan Bank |
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. Li |
|
Department |
Sales |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.64 |
|
UK Pound |
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
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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 |
|
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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 |
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|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
NB |
New Business |
-- |
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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.