|
Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
PROSPERITY TIEH ENTERPRISE CO., LTD. |
|
|
|
|
Registered Office : |
No.639, An-Jau Rd., Yanchao Dist., Kaohsiung City 824 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
01.03.1985 |
|
|
|
|
Com. Reg. No.: |
85978401 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of steel products |
|
|
|
|
No. of Employees : |
About 400 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.639, An-Jau
Rd., Yanchao Dist., Kaohsiung City 824, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-7-616-6918 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1985-3-1 with registered number 85978401
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Gaohuang Lin |
27,997,750 |
|
Liao Cheng Investment and Development Co.,
Ltd. (Literal Translation) |
|
|
34,248,120 |
|
|
Han Cheng Investment Co., Ltd. (Literal Translation) |
10,300,000 |
|
Long Wei Investment and Development Co., Ltd. (Literal Translation) |
34,204,850 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
1 |
|
|
Registered Name: |
Liao Cheng Investment and Development Co., Ltd. (Literal Translation) |
|
Registered Address: |
No.639, An-Jau Rd., Yanchao Dist., Kaohsiung
City 824, Taiwan (R.O.C.) |
|
Date of Foundation: |
1992-3-27 |
|
Registration Number: |
86521789 |
|
Registry: |
Economic Development Board of Kaohsiung City
Government |
|
Registered Capital: |
NTD 50,000,000 (USD 1,700,000) (As of 2014.04, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 50,000,000 (USD 1,700,000) |
|
Legal Representatives: |
Gaohuang Lin |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-4-26 |
|
2 |
|
|
Registered Name: |
Han Cheng Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
No.639, An-Jau Rd., Yanchao Dist., Kaohsiung
City 824, Taiwan (R.O.C.) |
|
Date of Foundation: |
2006-7-28 |
|
Registration Number: |
28369147 |
|
Registry: |
Economic Development Board of Kaohsiung City
Government |
|
Registered Capital: |
NTD 7,500,000 (USD
255,000) (As of 2014.04, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 7,500,000 (USD 255,000) |
|
Legal Representatives: |
Gaohuang Lin |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-7-19 |
|
3 |
|
|
Registered Name: |
Long Wei Investment and Development Co., Ltd. (Literal Translation) |
|
Registered Address: |
No.639, An-Jau Rd., Yanchao Dist., Kaohsiung
City 824, Taiwan (R.O.C.) |
|
Date of Foundation: |
1992-4-10 |
|
Registration Number: |
86522696 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 859,000,000 (USD 29,206,000) (As of 2014.04, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 859,000,000 (USD 29,206,000) |
|
Legal Representatives: |
Baolong Lin |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-11-28 |
Factories
|
1 |
|
|
Name: |
Gangshan Factory |
|
Address: |
No.639, An-Jau Rd., Yanchao Dist., Kaohsiung
City 824, Taiwan (R.O.C.) |
|
Date of Foundation: |
1992-3-4 |
|
Date of Registration: |
1993-7-7 |
|
Factory Registration Number: |
99662082 |
|
Factory Manager: |
Gaohuang Lin |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2002-1-17 |
|
Major Products: |
241 steel |
|
2 |
|
|
Name: |
Anxi Factory |
|
Address: |
No.2, Lane 671, An-Jau Rd., Yanchao Dist.,
Kaohsiung City 824, Taiwan (R.O.C.) |
|
Date of Registration: |
2013-6-5 |
|
Factory Registration Number: |
64006803 |
|
Factory Manager: |
Gaohuang Lin |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-6-5 |
|
Major Products: |
254 metal processing |
|
3 |
|
|
Name: |
Gangshan 3rd Factory |
|
Address: |
No.639-2, An-Jau Rd., Yanchao Dist.,
Kaohsiung City 824, Taiwan (R.O.C.) |
|
Date of Registration: |
2010-12-24 |
|
Factory Registration Number: |
12000087 |
|
Factory Manager: |
Gaohuang Lin |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2010-12-24 |
|
Major Products: |
254 metal processing |
Core Management
Directors
|
1 |
|
|
Name |
Gaohuang Lin |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Limei Zhao |
|
Position |
Director |
|
3 |
|
|
Name |
Jinghang Lin |
|
Position |
Director |
|
4 |
|
|
Name |
Baolong Lin |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 400 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.639, An-Jau Rd., Yanchao Dist., Kaohsiung City 824, Taiwan (R.O.C.) |
Production
Information
·
Subject is engaged in manufacturing of steel
products
·
Subject has factories in Kaohsiung City, Taiwan for production.
·
Subject obtained the certification of ISO
9001:2008.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
A101020 |
Crop cultivation industry |
|
A201010 |
Forestry industry |
|
A201030 |
Special tree operation |
|
CA01010 |
Smelting of iron and steel |
|
CA01020 |
Rolling and extruding of steel |
|
CA01050 |
Steel secondary processing |
|
CA01060 |
Manufacturing of steel wire and cable |
|
CA02010 |
Manufacturing of metal structure and building component |
|
CA02030 |
Manufacturing of screw, nut, screw spike, rivet |
|
CA02090 |
Manufacturing of wire |
|
CA02990 |
Manufacturing of other metal products |
|
CA03010 |
Heat treatment |
|
CA04010 |
Surface treatment |
|
F111090 |
Wholesale of building materials |
|
F199990 |
Wholesale of other products |
|
F401010 |
International trade business |
|
H701010 |
Development and leasing of residence and building |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
The raw materials for production are mostly purchased in domestic
market.
·
Subject is engaged in sale of steel products
·
The major products sold by subject include
galvanizing steel coils, alloy-coated steel coils and color pre-painted coils
·
Subject’s sales regions include domestic market,
Japan, South Korea, Mainland China, India, Indonesia, Singapore, Malaysia,
Europe and America
·
Subject’s major customers are Oxbow Steel
International Llc and Ventura C. Por A.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Raw materials |
T/T, Cash |
100% |
Foreign
Purchase
Subject has little
import.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Steel products |
T/T, Cash |
100% |
Export
|
Terms |
Proportion |
|
|
Steel products |
L/C, T/T |
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. Lin 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 any information about
bankers, and we can not obtain the information from other source.
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
035880 |
|
Debtor Name: |
Prosperity Tieh Enterprise Co., Ltd. |
|
Document Number: |
199294 |
|
Date of Registration: |
1990-7-6 |
|
Date of Alteration: |
1990-7-6 |
|
Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
053312 |
|
Debtor Name: |
Prosperity Tieh Enterprise Co., Ltd. |
|
Document Number: |
986609 |
|
Date of Registration: |
1997-2-27 |
|
Status: |
Paid off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
059070 |
|
Debtor Name: |
Prosperity Tieh Enterprise Co., Ltd. |
|
Document Number: |
828885 |
|
Date of Registration: |
1998-8-26 |
|
Status: |
Paid off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
068376 |
|
Debtor Name: |
Prosperity Tieh Enterprise Co., Ltd. |
|
Document Number: |
578559 |
|
Date of Registration: |
2000-11-16 |
|
Status: |
Paid off |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
080995 |
|
Debtor Name: |
Prosperity Tieh Enterprise Co., Ltd. |
|
Document Number: |
09305171160 |
|
Date of Registration: |
2004-9-17 |
|
Status: |
Paid off |
|
6 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
083790 |
|
Debtor Name: |
Prosperity Tieh Enterprise Co., Ltd. |
|
Document Number: |
09405119270 |
|
Date of Registration: |
2005-6-9 |
|
Status: |
Paid off |
|
7 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
087096 |
|
Debtor Name: |
Prosperity Tieh Enterprise Co., Ltd. |
|
Document Number: |
09505104890 |
|
Date of Registration: |
2006-4-27 |
|
Status: |
Paid off |
|
8 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
089285 |
|
Debtor Name: |
Prosperity Tieh Enterprise Co., Ltd. |
|
Document Number: |
09505187180 |
|
Date of Registration: |
2006-11-27 |
|
Date of Alteration: |
2010-2-5 |
|
9 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
099277 |
|
Debtor Name: |
Prosperity Tieh Enterprise Co., Ltd. |
|
Document Number: |
09930262360 |
|
Date of Registration: |
2010-2-5 |
Lawsuit
|
2010,Xiongjian, 1149 |
|
|
Date of Trial: |
2010-12-7 |
|
Reason: |
Compensation for damages |
|
Claimant: |
Prosperity Tieh Enterprise Co., Ltd. |
|
Defendant: |
Xianxu Fang |
|
Name |
Ms. Lin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.