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Report Date : |
26.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHEER FOODS ENTERPRISES CO., LTD. |
|
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|
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Registered Office : |
No.66, |
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Country : |
Taiwan |
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Date of Incorporation : |
22.05.1986 |
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Com. Reg. No.: |
22135755 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of food. |
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No. of Employees : |
Not Available |
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 |
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Status : |
Satisfactory |
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|
|
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
|
Company Name: |
Cheer Foods Enterprises Co., Ltd. |
|
Supplied Name: |
CHEER FOODS ENTERPRISES CO LTD |
|
Trading Address: |
No.66, Zaochuan Rd., Su-Ao Township, Yilan County 270, Taiwan (R.O.C.) |
|
Supplied Address: |
NO.66,CHUAN TSAN RD. SU-AO I-LAN SHENG TAIWAN |
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Telephone Number: |
+886-3-997-2842 |
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Fax Number: |
+886-3-997-2841 |
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E-mail: |
Notes: The exact
name and address are as above.
Notes: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
Subject was incorporated on 1986-5-22 with registered number 22135755 as Joint Stock Company in Taiwan.
Factory
|
Address: |
No.66, Zaochuan Rd., Su-Ao Township, Yilan County 270, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1986-2-8 |
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Date of
Registration: |
1988-1-9 |
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Factory
Registration Number: |
99620524 |
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Factory Manager: |
Jinlong Li |
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Status: |
In Production |
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Date of Last Annual Return: |
2013-2-8 |
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Major Products: |
081 Processing
of meat and its products. 082 Processing
of sea food and its products 089 Other food. |
Note: It is
introduced that subject also has a factory in Zhejiang Province, the mainland
of China, however the subject declined to disclose its details information for
us, we cannot find any relevant information from other valid sources, either.
Major Shareholders
|
Name |
Subscription Shares |
|
Jinlong Li |
1,500 |
|
Jinxing Li |
5,250 |
|
Jintian Chen |
1,500 |
|
Rongde Lin |
1,500 |
|
Jinfa Li |
1,500 |
|
Baocheng Investment Co., Ltd (Liberal
Translation) |
7,500 |
|
Registered Name: |
Baocheng
Investment Co., Ltd (Liberal Translation) |
|
Registered Address: |
6F., No.250, Sec. 5, Zhongxiao E. Rd., Xinyi Dist., Taipei City, Taiwan
(R.O.C.) |
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Date of Foundation: |
2001-11-29 |
|
Registration Number: |
12963331 |
|
Registry: |
Taipei City Government |
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Registered Capital: |
NTD 9,300,000 (USD 307,830) (As of 2014.08, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 9,300,000 (USD 307,830) |
|
Legal Representatives: |
Weiming Liu |
|
Legal Form: |
Joint Stock
Company |
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Date of Last Annual Return: |
2010-7-27 |
Core Management
Directors
|
1 |
||
|
Name |
Jinlong Li |
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|
Position |
Board Chairman |
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2 |
||
|
Name |
Jinxing Li |
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Position |
Director |
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3 |
||
|
Name |
Jintian Chen |
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Position |
Director |
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|
4 |
||
|
Name |
Rongde Lin |
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|
Position |
Director |
|
|
5 |
||
|
Name |
Jinfa Li |
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|
Position |
Director |
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|
6 |
||
|
Name |
Weiming Liu |
|
|
Position |
Supervisor |
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Offices & Factories
|
|
Headquarters |
|
Add |
No.66, Zaochuan Rd., Su-Ao Township, Yilan County
270, Taiwan (R.O.C.) |
Production Information
l
Subject is engaged in manufacturing of food and etc.
l
Subject has two factories in Taiwan and
Zhejiang Province, the mainland of China for production.
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Building and repairing for fishing vessel. |
|
-- |
Processing, manufacturing and trading of marine
products, shrimp and eel. |
|
-- |
Processing, manufacturing and trading of frozen
and conditioning food. |
|
-- |
Manufacturing of ice. |
|
-- |
Operation, investment, importing and exporting of
above related business. |
l
It is introduced that subject purchases its raw
materials and etc both at home and abroad.
l
Subject is engaged in sale of food and etc.
l
The major products are fish cake, shrimp ball, soup
dumpling, seafood medley, fish tofu and so on.
l
Subject’s sales regions cover China, Southeast
Asia, Australia and America, etc.
l
Subject’s major customers are catering industry,
such as hot pot restaurant, snack bar and etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials and etc |
|
Payment Terms |
Cash, T/T and etc |
1.
Import
|
Products |
Raw materials and etc |
|
Payment Terms |
T/T, L/C and etc |
Sales
1.
Domestic Markets
|
Product |
Food and etc. |
|
Selling Terms |
Cash, T/T and etc |
2.
Export
|
Product |
Food and etc. |
|
Selling Terms |
T/T, L/C and 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 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
Up to
date of reporting, no existing or latent litigation of the subject has been found.
Interview Details
|
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
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
|
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.