|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
LAUREL ENTERPRISES CORPORATION |
|
|
|
|
Registered Office : |
1F, No.126,
Roosevelt Rd., Sec.3, Taipei City, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
31.08.1970 |
|
|
|
|
Com. Reg. No.: |
18868215 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and
sales of food |
|
|
|
|
No. of Employees |
700 |
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 : |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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: |
LAUREL ENTERPRISES CORPORATION |
|
Supplied Name: |
LAUREL ENTERPRISES CORPORATION |
|
Trading Address: |
No.126, Roosevelt
Rd., Sec.3, Taipei City, Taiwan |
|
Supplied Address: |
NO.126, SEC.3,
ROOSEVELT ROAD, TAIPEI, TAIWAN |
|
Telephone Number: |
+886-2-2365-0335 |
|
Fax Number: |
+886-2-2367-8337 |
|
Website: |
Notes: The exact
name and address are as above.
|
Registered Name: |
LAUREL ENTERPRISES CORPORATION |
|
Registered
Address: |
1F, No.126,
Roosevelt Rd., Sec.3, Taipei City, Taiwan |
|
Date of
Foundation: |
1970-8-31 |
|
Registration
Number: |
18868215 |
|
Registry: |
Department of
Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered
Capital: |
NTD 716,000,000 (USD 24,344,000) (As of 2014.08, 1
NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 716,000,000
(USD 24,344,000) |
|
Legal
Representatives: |
Kunshan Wang |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1970-8-31 with registered number 18868215 as Joint Stock Company in Taiwan.
Factories
|
1 |
|
|
Address: |
No. 60, Qiaohe Road, Zhonghe District, New Taipei City |
|
Date of
Foundation: |
1990-8-1 |
|
Date of
Registration: |
1990-12-12 |
|
Factory
Registration Number: |
99616521 |
|
Factory Manager: |
Kunshan Wang |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2009-5-22 |
|
2 |
|
|
Address: |
No. 329, 2 Sec, Zhongshan Road, Zhonghe District, New Taipei City |
|
Date of
Foundation: |
1969-1-1 |
|
Date of
Registration: |
1972-6-9 |
|
Factory
Registration Number: |
99616659 |
|
Factory Manager: |
Kunshan Wang |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2010-4-15 |
|
3 |
|
|
Address: |
No. 14-2, Industrial 2 Road, Xingnan Village, Minxiong Alley, Jiayi County, Taiwan |
|
Date of
Foundation: |
1994-10-28 |
|
Date of
Registration: |
1996-7-20 |
|
Factory
Registration Number: |
99655620 |
|
Factory Manager: |
Kunshan Wang |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2009-3-10 |
|
4 |
|
|
Address: |
No. 23, Limin Street, Daliao Alley, Daliao District, Gaoxiong City |
|
Date of
Foundation: |
1995-12-27 |
|
Date of
Registration: |
1996-1-23 |
|
Factory
Registration Number: |
99663127 |
|
Factory Manager: |
Kunshan Wang |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2009-2-19 |
|
5 |
|
|
Address: |
No. 32, 22th Road, Industrial District, Baoshan Alley, Nantun District, Taichung City |
|
Date of
Foundation: |
1991-10-8 |
|
Date of
Registration: |
1993-6-22 |
|
Factory
Registration Number: |
99669273 |
|
Factory Manager: |
Kunshan Wang |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2009-2-24 |
Related Company
|
Registered Name: |
Shanghai Shida
Food Co., Ltd. (Literal Translation) |
|
Registered
Address: |
No.10, Guiguan
Road, Minhang District, Shanghai City, China |
|
Tel: |
+86-21-5442-2002 |
|
Date of
Foundation: |
1995-7-20 |
|
Registration
Number: |
310000400118946 |
|
Registry: |
Shanghai
Industrial and Commercial Administration |
|
Registered
Capital: |
USD 29,500,000 |
|
Legal
Representatives: |
Zhengming Wang |
Major Shareholders
|
Name |
Subscription Shares |
| Kunshan Wang |
8,640 |
|
Zhengyi Wang |
7,940 |
|
Zhengming Wang |
8,640 |
|
Mi Wang |
4,360 |
|
Shuyu Xie |
780 |
|
Yalun Wang |
2,800 |
|
Dongxu Wang |
2,800 |
|
Yuning Wang |
3,300 |
|
Zhenyu Wang |
3,300 |
|
Chaoyang Chen |
1,400 |
Core Management
Directors
|
1 |
||
|
Name |
Kunshan Wang |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Zhengyi Wang |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Zhengming Wang |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Mi Wang |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Shuyu Xie |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Yalun Wang |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Dongxu Wang |
|
|
Position |
Director |
|
|
8 |
||
|
Name |
Yuning Wang |
|
|
Position |
Director |
|
|
9 |
||
|
Name |
Zhenyu Wang |
|
|
Position |
Director |
|
|
10 |
||
|
Name |
Chaoyang Chen |
|
|
Position |
Supervisor |
|
Personnel Structure
|
Total Employees |
About 700 Employees |
|
|
Headquarters |
|
Add |
Production Information
Subject is engaged in manufacturing of food, etc.
Subject has factories in Taiwan for production.
It is introduced that subject has a related company in Shanghai City, China for production.
Subject obtained the certifications of ISO9001, CAS, CFFI and HACCP.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
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 food, etc.
The major products sold by subject include prepared meal, glue pudding, dumplings, rice ball, pie series, desserts and snacks and so on.
Subject’s sales regions include Asia, America and Europe, etc.
Subject’s major types of customers are restaurants, hotels, supermarkets and food retailers, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials, etc |
|
Payment Terms |
T/T, etc |
Import
Subject has little
import.
Sales
Domestic Markets
|
Product |
|
|
Selling Terms |
Cash, T/T, etc |
Export
|
Product |
Food, etc |
|
Selling Terms |
T/T, etc |
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. Shen declined to disclose its financials citing the grounds of
company’s confidentiality; from other sources we could not obtain such
information, either.
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
|
Trial Number: |
2008,Beixiao,3372 |
|
Date of Trial: |
2008-10-30 |
|
Reason: |
Payment for good |
|
Claimant: |
Laurel Enterprises
Corporation |
|
Defendant: |
Not Stated |
Interview Details
|
Name: |
Ms. Shen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.43 |
|
|
1 |
Rs.100.23 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.