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Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
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Name : |
EVERGREEN CEREAL CO., LTD. |
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Registered Office : |
1F. No.5, Lane 95, Sec.2, San Min Rd., Banqiao Dist., New Taipei City 220 |
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Country : |
Taiwan |
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Date of Incorporation : |
25.02.1987 |
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Com. Reg. No.: |
22365340 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesaler of coarse cereals including wheat, millet, red bean, ormosia & mung bean. |
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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 : |
Slow but Correct |
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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 |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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. 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 sales. 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 |
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Company Name: |
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Supplied Name: |
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Trading Address: |
1F. No.5, Lane
95, Sec.2, San Min Rd., Banqiao Dist., New Taipei City
220, Taiwan (R.O.C.) |
|
Supplied Address: |
1F No 5 Lane 95
Sec 2San Min Rd Banqiao Dist New Taipei City 220 |
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Telephone Number: |
Note: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1987-2-25 with registered number 22365340 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Ruiyong Xu |
12,400,000 |
The information above is that of subject’s major shareholders.
Core Management
|
Name |
Ruiyong Xu |
|
Position |
Director |
Offices
& Factories
|
|
Headquarters |
|
Add |
1F. No.5, Lane 95, Sec.2, San Min Rd., Banqiao Dist., New Taipei City 220, Taiwan (R.O.C.) |
Production
Information
l
Subject is a trader of coarse cereals without any production activities.
Purchase
Information
l
The registered activities of subject:
|
|
Details |
|
1 |
A variety of grains, beans and seeds of
the import and export trading business. |
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2 |
Food, canned food and related products
import and export trading business. |
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3 |
Operations and investments. of the
business above |
l
The products of the subject are both purchased at
home and abroad like Vietnam and Thailand, etc.
l
Subject is mainly involved in wholesaling of coarse
cereals.
l
The major products of the subject include wheat,
millet, red bean, ormosia & mung
bean.
l
Subject’s mainly sales region is Taiwan.
l
Subject’s major customers are grain shops and food
processing plants, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Terms |
Proportion |
|
|
Coarse cereals, etc. |
T/T, Cash, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Coarse cereals, etc. |
L/C, T/T, etc |
100% |
Sales
Domestic Markets (Taiwan)
|
Terms |
Proportion |
|
|
Coarse cereals, etc. |
T/T, Cash, etc |
100% |
Foreign Markets
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 declined to disclose
its financials citing the grounds of company’s confidentiality; from other
source we cannot obtain the relevant information, either.
Subject declined
to disclose any information about bankers, and we can not obtain the
information from other source.
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. Chen |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.21 |
|
UK Pound |
1 |
Rs.101.05 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
ras |
|
|
|
|
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.