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Report Date : |
23.04.2014 |
IDENTIFICATION DETAILS
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Name : |
MING-SHENG SEAFOOD CO., LTD. |
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Registered Office : |
No.332, Zihyou 2nd Rd., Zuoying District, Kaohsiung City
813, |
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Country : |
Taiwan |
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Date of Incorporation : |
08.01.1997 |
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Com. Reg. No.: |
97146380 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of seafood |
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No. of Employees |
60 |
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 |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
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Company Name: |
MING-SHENG SEAFOOD
CO., LTD. |
|
Supplied Name: |
MING SHENG SEA FOOD
CO |
|
Trading Address: |
No.332, Zihyou 2nd Rd., Zuoying District, Kaohsiung City 813, Taiwan, R.O.C. |
|
Supplied Address: |
120, Tzu - yu, 2nd Floor, TSO Ying Dist. Kaosiung |
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Telephone Number: |
+886-7-812-3101 |
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Fax Number: |
+886-7-812-5191 |
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E-mail: |
Notes: Since the
supplied address is inaccurate, and the subject introduced its exact name and
address as above.
Subject was incorporated on 1997-1-8 with registered number 97146380 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Jinmei Zhengwu |
20,800,000 |
The information above is that of subject’s major shareholders.
Chambre froide
|
Address |
No. 26, Xindu Rd, Qianzhen Dist, Kaohsiung City 806, Taiwan |
Offices
|
1 |
|
|
Name |
Shanghai Office |
|
Address |
Room A 1112, No. 1, Alley 1040, Cao Yang Road, Pu Tuo District, Shanghai City, China |
|
Telephone Number |
+86-21-6257-1868 |
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Fax Number |
+86-21-6257-0042 |
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2 |
|
|
Name |
Shenzhen Office |
|
Address |
1510, Block C, Nan Fang Zheng Juan Building, No, 2018, Jian She Road, Luo Hu District, Shen Zun City, Guangdong Province, China |
|
Telephone Number |
+86-755-2216-4711 |
|
Fax Number |
+86-755-2216-4712 |
Core Management
Directors
|
Name |
Jinmei Zhengwu |
|
Position |
Director |
Personnel Structure
|
Total Employees |
About 60 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.332, Zihyou 2nd Rd., Zuoying District, Kaohsiung City 813, Taiwan, R.O.C. |
Production Information
Subject is a trader of seafood and etc without any production activities.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F101050 |
Wholesales of fresh fish. |
|
F102010 |
Wholesales of frozen food. |
|
F401010 |
International trading business. |
It is introduced that subject purchases its products both at home and abroad, and the detailed information is as following:
|
Area |
Product |
|
Greenland |
Greenland halibut |
|
Iceland |
Iceland halibut |
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Norway |
Trout and salmon |
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Japan |
Marukoban, oyster, boiled octopus, prawn, snow crab |
|
Korea |
Kibinago, ikura, scallop, gegoduck, squik |
|
China |
Live eel, Chinese sanguine meat |
|
Taiwan |
Mullet roe, atka makeral |
|
America |
oyster |
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Canada |
Seabass, capelin, salmon roe, Canadian lobster, scallop, sea cucumber |
|
Mexico |
Mexcian lobster, abalone |
|
Florida |
Florida lobster |
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Miami |
Miami lobster |
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Cuba |
Cuban lobster |
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Chilean |
Salmon, locos, king crab |
|
Peru |
Pink clam, red abalone, squid |
|
India |
Silver pomfre, small cooked lobster, white shrimp/pud |
|
Senegal |
Sea bass |
|
South Africa |
Ocean sunfish meat |
|
Uruguray |
Yellow croaker |
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Southeast Asia |
Black coral trout, small lobster, soft cuttlefish, banana prawns, spanner crabs, snapper, baby octopus, white shrimp, live crab, eel, flower shrimp, flounder, endeavour prawns whiting catfish, black tigerm, parrot fish |
|
Australia |
Coral trout, WA lobster, abalonane, tiger, spanner crab, mullet roe/gizzard |
|
New Zealand |
Snapper, mussel |
The subject is mainly engaged in sales of seafood and etc.
It is introduced that subject’s selling territory is mainly in Taiwan and the Mainland of China.
It is introduced that subject’s major customers are wholesalers and distributors of seafood, restaurant, supermarket and etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Seafood and etc |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Seafood and etc |
CBD and etc |
100% |
Sales
Domestic Markets (Taiwan and Mainland, China)
|
Sales Terms |
Proportion |
|
|
Seafood and etc |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Seafood 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. Wu 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 |
Ms. Wu |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.71 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.83.77 |
INFORMATION DETAILS
|
Analysis Done
by : |
SUB |
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|
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|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>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 |
|
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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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.