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Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
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Name : |
YIEH CORP. |
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Formerly Known As : |
YTEH CORPORATION |
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Registered Office : |
1F., No.69-6, |
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Country : |
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Date of Incorporation : |
16.12.1997 |
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Com. Reg. No.: |
16122351 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of steel products |
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No. of Employees |
100 |
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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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 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
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Company Name: |
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Former Name: |
YTEH CORPORATION |
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Supplied Name: |
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Trading Address: |
No 6, E-Da Road, Yanchao Dist., Kaohsiung City, Taiwan, 82445 R.O.C. |
|
Supplied Address: |
C/O No 6 E-DA Rd Yanchao Dist Kaohsiung City Taiwan 82445 Kaohsiung |
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Telephone Number: |
+886-7-615-1000 |
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Fax Number: |
|
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E-mail: |
Notes: The exact name and address are as above.
Subject was
incorporated on 1997-12-16 with registered number 16122351 as Joint Stock
Company in Taiwan.
Change of Name
|
Former Name |
Yteh Corporation |
|
Current Name |
Yieh Corp. |
|
Name |
Subscription Shares |
|
Yieh Corporation Limited |
7,200,000 |
The information above is that of subject’s major shareholders.
Parent Company
|
Name |
Yieh Corporation Limited |
|
Address |
Hong Kong |
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Date of Registration: |
2003-10-2 |
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Registration Number: |
864030 |
Offices
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1 |
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|
Name |
Shanghai Office |
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Address |
Room 503, Zhongda Plaza, No. 989 Dongfang Road, Shanghai, China |
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Telephone Number |
+86-21-5108-3606 |
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Fax Number |
+86-21-5820-0941 |
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2 |
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Name |
Guangzhou Office |
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Address |
Room 1010, Nanfang Securities Building,140-148 Tiyu East Road, Tianhe District, Guangzhou City, Guangdong Province, China |
|
Telephone Number |
+86-20-6281-5501 |
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Fax Number |
+86-20-3887-8070 |
Related Companies
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1 |
|
|
Name |
Yieh United Steel Corp. |
|
Address |
No.600, Xinglong St., Jiaxing Vil., Gangshan Dist., Kaohsiung City 82057, Taiwan R.O.C. |
|
Telephone Number |
+886-7-623-2255 |
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Fax Number |
+886-7-623-3148 |
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2 |
|
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Name |
Yieh Mau Corp. |
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Address |
No.345, Shunan Rd., Luzhu Dist., Kaohsiung, Taiwan; Kaohsiung City; Kaohsiung City, Taiwan R.O.C. |
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Telephone Number |
+886-7-696-2255 |
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3 |
|
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Name |
Yieh Hsing Enterprise Co., ltd. |
|
Address |
No.369, Baomi Road, Baimi Village, Gangshan District, Kaohsiung City 82053, Taiwan, R.O.C. |
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Telephone Number |
+886-7-611-1111 |
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Fax Number |
+886-7-625-9662 |
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4 |
|
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Name |
Yieh Phui Enterprise Co., Ltd. |
|
Address |
No. 369, Yuliao Road, Qiaotou District, Kaohsiung City 82544, Taiwan R.O.C. |
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Telephone Number |
+886-7-611-7181 |
Core Management
Directors
|
1 |
|
|
Name |
Qingguo Wang |
|
Position |
Chairman of the Board |
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2 |
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|
Name |
Qixiang Xu |
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Position |
Director |
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3 |
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|
Name |
Zhilong Lin |
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Position |
Director |
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4 |
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|
Name |
Yingxue You |
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Position |
Director |
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5 |
|
|
Name |
Sumin Wang |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 100 Employees |
Offices & Factories
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|
Headquarters |
|
Add |
No 6, E-Da Road, Yanchao Dist., Kaohsiung City, Taiwan, 82445 R.O.C. |
Subject is engaged in trading of
steel products, etc. without any production activities.
It is introduced that subject’s
group (E United group) has factories in Taiwan and Mainland China for
production.
The registered activities of subject:
|
Business Code |
Details |
|
F102030 |
Wholesale of alcohol and tobacco |
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F102040 |
Wholesale of beverage |
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F104110 |
Wholesale of textile, garment, shoes hat, umbrella, accessories |
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F105050 |
Wholesale of furniture, bedding, kitchen utensil, decorations |
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F106010 |
Wholesales of hardware |
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F106020 |
Wholesales of daily supplies |
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F107030 |
Wholesales of cleaning supplies |
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F107170 |
Wholesales of industrial additives |
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F107200 |
Wholesales of chemical material |
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F107990 |
Wholesales of other chemical product |
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F108040 |
Wholesales of cosmetic |
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F109070 |
Wholesales of stationery, musical instrument, recreational supplies |
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F110010 |
Wholesales of clock |
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F110020 |
Wholesales of glasses |
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F111090 |
Wholesales of building materials |
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F112040 |
Wholesales of petroleum product |
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F113010 |
Wholesales of machinery |
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F113020 |
Wholesales of electronic appliance |
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F113030 |
Wholesales of precise instrument |
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F113050 |
Wholesales of computer and office equipment |
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F118010 |
Wholesales of information software |
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I301010 |
Information software services |
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I301020 |
Data processing services |
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I301030 |
Electronic information supply services |
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ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The products sold by the subject are
both purchased at home and Southeast Asia Countries, etc.
Subject
is engaged in sale of steel products, etc.
The major products sold by subject
include stainless steel, carbon steel, coated steel, pipe, tube, bar, aluminum
alloy product, and wire rod, etc.
The stainless steel of the subject
are mainly used in chemical tank, heat exchanger, medical equipment, kitchen
utensils, electric equipment, building construction, etc.
Subject’s sales regions include
domestic market, Japan, Korea, India, Singapore, US, North America, Europe,
etc.
One of subject’s major customers
is Midland Metals International USA Inc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Steel products, etc. |
Interior Settlement, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
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|
Steel products, etc. |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Steel products, etc. |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Steel products, etc. |
L/C, T/T, 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 declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name |
The Hongkong & Shanghai
Banking Corp. Ltd. |
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. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.50 |
|
|
1 |
Rs.100.33 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
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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 |
|
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 |
|
<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.