|
Report Date : |
09.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
RICH HONOUR ENTERPRISE CO., LTD. |
|
|
|
|
Registered Office : |
12Fl., No.75, Sec.4, Nanking E. Rd., Songshan Dist., Taipei 105 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
27.09.1980 |
|
|
|
|
Com. Reg. No.: |
30927800 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of building materials and providing interior design service |
|
|
|
|
No. of Employees : |
About 300 Employees (Group) |
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 |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Exist |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. 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.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
12Fl., No.75,
Sec.4, Nanking E. Rd., Songshan Dist., Taipei 105, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2545-6011 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1980-9-27 with registered number 30927800
as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Xinli Yang |
3,940,000 |
|
Xiuqing Wang |
|
|
6,060,000 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
Rich Honour International Design Co., Ltd. |
|
Address |
12Fl., No.75, Sec.4, Nanking E. Rd.,
Songshan Dist., Taipei 105, Taiwan, R.O.C. |
|
2 |
|
|
Name |
Hong Qiao Furniture Co., Ltd. (Literal Translation) |
|
Address |
No.1, Andong Road, Zhongli City, Taoyuan County, Taiwan |
|
Tel: |
+886-3-453-5511 |
|
Fax: |
+886-3-462-1011 |
|
3 |
|
|
Name: |
Yu Qiao Design & Decoration (Shanghai) Co., Ltd. (Literal
Translation) |
|
Address: |
Room 701, No.480, Wulumuqi North Road, Jiang-an District, Shanghai
City, China |
|
Tel: |
+86-21-3252-5959 |
|
Fax: |
+86-21-6415-3090 |
|
Date of Registered: |
2005-9-21 |
|
Registration Number: |
310000400440353 |
|
Registered Capital: |
CNY 10,800,000 |
|
Legal Representatives: |
Xiuqing Wang |
|
4 |
|
|
Name: |
Jiaxing Hong Qiao Furniture Co., Ltd. (Literal Translation) |
|
Address: |
No.89, Taoyuan Road, Yaozhuang Town, Jiashan Township, Jiaxing City,
Zhenjiang Province, China |
|
Tel: |
+86-573-8483-8000 |
|
Fax: |
+86-573-8482-9000 |
Core Management
Directors
|
1 |
|
|
Name |
Xinli Yang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Xiuqing Wang |
|
Position |
Director/ Manager |
|
Date of Appointment |
2008-11-4 |
|
3 |
|
|
Name |
Xiaowen Cen |
|
Position |
Manager |
|
Date of Appointment |
2005-10-14 |
|
4 |
|
|
Name |
Wuxiong Xiao |
|
Position |
Manager |
|
Date of Appointment |
2005-10-14 |
Personnel
Structure
|
Total Employees |
About 300 Employees (Group) |
Offices &
Factories
|
|
Headquarters |
|
Add |
12Fl., No.75, Sec.4, Nanking E. Rd., Songshan Dist., Taipei 105,
Taiwan, R.O.C. |
Production
Information
·
Subject is engaged in trading of building materials
and providing interior design service, without any production activities.
·
It is introduced that subject has related furniture
factories in Taiwan and Mainland China for production.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
E801010 |
Interior design |
|
E801040 |
Glass project installment |
|
E901010 |
Paint works |
|
F105050 |
Wholesale of furniture, bedding, kitchen utensil and decorations |
|
F106020 |
Wholesale of daily supplies |
|
F107010 |
Wholesale of paint and coating |
|
F111090 |
Wholesale of building materials |
|
F205040 |
Retail of furniture, bedding, kitchen utensil and decorations |
|
F206020 |
Retail of daily supplies |
|
F207010 |
Retail of paint and coating |
|
F211010 |
Retail of building materials |
|
F401010 |
International trade business |
|
I401010 |
Advertisement service |
|
I501010 |
Product design |
|
I503010 |
Landscape and interior design |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
|
E801060 |
Interior decorating business |
Subject purchases products from both home and
abroad such as domestic market, Japan and Europe
·
Subject is engaged in sale
of building materials and providing interior design service
·
Subject service region is
mainly in Taiwan domestic market.
·
Subject’s major customers
are department stores, restaurants, hotels and clubs
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Building
materials |
Interior
Settlement |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Building
materials |
L/C, T/T |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Building
materials and interior design service |
Cash, T/T |
100% |
Export
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 Ms. Chen declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
|
Name |
CTBC Bank Co Ltd Cheng De Branch |
Note: Subject declined to confirm the supplied
bank information; from other sources, the relevant information is not
available, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
2003, Beijian, 5557 |
|
|
Date of Trial: |
2003-7-31 |
|
Reason: |
Payment for seizure of property |
|
Claimant: |
Not Stated |
|
Defendant: |
Rich Honour Enterprise Co., Ltd. |
|
Name |
Ms. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NNA |
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.