|
Report Date : |
31.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOUNG LOONG TEXTILE MFG. CO., LTD. |
|
|
|
|
Registered Office : |
19Fl, No.31, Sec. 2, San Ming Rd., Banqiao
Dist., New Taipei City 220 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
14.08.1961 |
|
|
|
|
Com. Reg. No.: |
18770509 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of thread. |
|
|
|
|
No. of Employees |
About 400 Employees |
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
19Fl, No.31,
Sec. 2, San Ming Rd., Banqiao Dist., New Taipei City 220, Taiwan |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2961-2112 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1961-8-14 with registered number 18770509 as Private Limited Liability
Company in Taiwan.
Factories
|
1 |
|
|
Name: |
Taoyuan Factory |
|
Address: |
No. 859, Fuguo Rd., Xipu Li, Taoyuan City, Taoyuan County, Taiwan |
|
Date of Foundation: |
1971-9-27 |
|
Date of Registration: |
1973-9-11 |
|
Factory Registration Number: |
99625530 |
|
Factory Manager: |
Xiuxiong You |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2002-8-9 |
|
Major Products: |
111 spinning |
|
2 |
|
|
Name: |
ChangHua Fangyuan Factory |
|
Address: |
No. 8, Industrial Rd., No. 8, 11, 21, Industrial Zone 3rd Rd., Houliao
Village, Changhua County, Taiwan |
|
Date of Foundation: |
1990-12-4 |
|
Date of Registration: |
1991-9-20 |
|
Factory Registration Number: |
99647187 |
|
Factory Manager: |
Xiuxiong You |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2012-9-10 |
|
Major Products: |
111 spinning |
Related Companies
|
1 |
|
|
Name: |
Toung Loong Textile Mfg. (VN) Co., Ltd. |
|
Tel: |
+84-650-374-3219 |
|
Fax: |
+84-650-375-3395 |
|
2 |
|
|
Name: |
Sarah International Co., Ltd |
|
Tel: |
+84-650-378-8759 |
|
Fax: |
+84-650-378-8762 |
|
3 |
|
|
Name: |
Dong Long Enterprise Co., Ltd |
|
Tel: |
+855-23-995-897 |
Cooperation
Companies
|
1 |
|
|
Name: |
Lee Ven Industrial Co., Ltd. |
|
Tel: |
+886-2-2555-6198 |
|
Fax: |
+886-2-2558-4578 |
|
Email: |
|
|
2 |
|
|
Name: |
Eclat Textile Co., Ltd. |
|
Tel: |
+886-2-2299-6000 |
|
Fax: |
+886-2-2299-5483 |
|
Email: |
|
|
3 |
|
|
Name: |
Shiny Textile Co., Ltd. |
|
Tel: |
+886-2-2557-1883 |
|
Fax: |
+886-2-2557-1889 |
|
Email: |
|
Major Shareholders
|
Name |
Subscription Shares |
|
Xiuxiong You |
|
|
4,501,901 |
|
|
Zhicheng You |
2,880,396 |
|
Rongjie You |
5,841,986 |
|
Rongli You |
5,697,230 |
|
Lixun Ke |
10,000 |
|
Maojia Investment Co., Ltd. (Literal Translation) |
5,243,989 |
|
Xianghao Investment Co., Ltd. (Literal Translation) |
1,154,000 |
|
Jinzong You |
1,727,010 |
|
Jingwei Zhou |
72,514 |
|
Sara Rose International Inc. |
4,770,556 |
Shareholders Information:
|
1 |
|
|
Registered Name: |
Sara Rose International Inc. |
|
Registered Address: |
20F, No.31, San Ming Rd., Banqiao Dist., New
Taipei City 220, Taiwan |
|
Date of Foundation: |
1992-6-10 |
|
Registration Number: |
86718903 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
NTD 38,000,000 (USD 1,265,400) (As of 2014.08, 1 NTD = 0.0333 USD) |
|
Paid-up Capital: |
NTD 38,000,000 (USD 1,265,400) |
|
Legal Representatives: |
Xiuxiong You |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-6-27 |
|
2 |
|
|
Registered Name: |
Maojia Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
No. 289-1, Chang’an Street, Haishan Li,
Banqiao Dist., New Taipei City, Taiwan |
|
Date of Foundation: |
1999-5-17 |
|
Registration Number: |
16918689 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
NTD 28,000,000 (USD 932,400) (As of 2014.08, 1 NTD = 0.0333 USD) |
|
Legal Representatives: |
Yongquan Chen |
|
Legal Form: |
Private Limited Liability Company |
|
Date of Last Annual Return: |
2013-7-22 |
|
3 |
|
|
Registered Name: |
Xianghao Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
19F, No. 33, Sec. 2, Sanmin Rd., Banqiao
Dist., New Taipei City, Taiwan |
|
Date of Foundation: |
2007-3-13 |
|
Registration Number: |
28621536 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
NTD 10,000,000 (USD 333,000) (As of 2014.08, 1 NTD = 0.0333 USD) |
|
Legal Representatives: |
Shuhua You |
|
Legal Form: |
Private Limited Liability Company |
|
Date of Last Annual Return: |
2013-8-29 |
Core Management
Directors
|
1 |
||
|
Name |
Xiuxiong You |
|
|
Position |
Chairman of the Board |
|
|
2 |
||
|
Name |
Zhicheng You |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Rongjie You |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Rongli You |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Lixun Ke |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Qiuyue Chen |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Xuetao Wu |
|
|
Position |
Director |
|
|
8 |
||
|
Name |
Zexiang Ding |
|
|
Position |
Director |
|
|
9 |
||
|
Name |
Kaiping Zhang |
|
|
Position |
Director |
|
|
10 |
||
|
Name |
Jinzong You |
|
|
Position |
Supervisor |
|
|
11 |
||
|
Name |
Jingwei Zhou |
|
|
Position |
Supervisor |
|
|
12 |
||
|
Name |
Rongjun You |
|
|
Position |
Supervisor |
|
|
13 |
||
|
Name |
Zhicheng You |
|
|
Position |
Manager |
|
|
Date of Appointment |
2010-6-17 |
|
Personnel
Structure
|
Total Employees |
About 400 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
19Fl, No.31, Sec. 2, San Ming Rd., Banqiao Dist., New Taipei City 220,
Taiwan |
Production
Information
Subject is engaged in manufacturing of spinning, etc.
Subject has factories in Taiwan for production.
It is introduced that subject has factories in Vietnam and Cambodia but
the detail information is not available.
It is introduced that the production capacity of the Taiwan factories is
1,800 tons each month and the factory abroad is 500 tons each month.
Subject obtained the certification of ISO 9001 and ISO 14000.
Purchase
Information
The registered activities of subject:
|
No. |
Details |
|
1 |
Manufacturing, sale and wholesale of kinds of synthetic suture and
yarn for weaving purpose. |
|
2 |
Manufacturing and distribution of kinds of cotton, fur, hemp thread
and rayon. |
|
3 |
Manufacturing and distribution of line textile products. |
|
4 |
Manufacturing and processing of kinds of fiber line class and fibrous
textile. |
|
5 |
Import and export of wood (logs). |
|
6 |
The related import and export business of the above products |
The raw materials for production are both purchased at home and abroad.
Subject is engaged in sale of thread, etc.
The major products sold by the subject are air textured yarn, draw
textured yarn, sewing thread, multicolored twisted or composite yarn, zipper
thread, nylon yarn dye, polyester yarn dye, mélange yarn dye, moisture
management treated yarn dye, etc.
Subject’s sales regions domestic market and abroad, etc.
Subject’s major customers are textile companies, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
Thread, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Thread, etc. |
|
Selling Terms |
L/C, 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 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
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Document No.: |
10331046510 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Creditor Name: |
CTBC Bank Co., Ltd. Dunbei Branch |
|
Date of Registration: |
2014-8-11 |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
105638 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
10130314380 |
|
Date of Registration: |
2012-3-30 |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
108168 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
10231341190 |
|
Date of Registration: |
2013-7-26 |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
069709 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
09005070790 |
|
Date of Registration: |
2001-3-19 |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
066911 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
573228 |
|
Date of Registration: |
2000-7-28 |
|
6 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
078066 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
09200505970 |
|
Date of Registration: |
2003-12-19 |
|
7 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
109445 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
10331015640 |
|
Date of Registration: |
2014-3-20 |
|
8 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
094635 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
09705115200 |
|
Date of Registration: |
2008-6-10 |
|
9 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
104592 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
10030366470 |
|
Date of Registration: |
2011-9-1 |
|
10 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
100931 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
09930327260 |
|
Date of Registration: |
2010-8-5 |
|
11 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
110233 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
10331046510 |
|
Date of Registration: |
2014-8-11 |
|
12 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
105924 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
10130324620 |
|
Date of Registration: |
2012-5-23 |
|
13 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
094632 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
09705115210 |
|
Date of Registration: |
2008-6-10 |
|
14 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
090320 |
|
Debtor Name: |
Toung Loong Textile Mfg. Co., Ltd. |
|
Document Number: |
09605086110 |
|
Date of Registration: |
2007-3-16 |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
|
Name |
Mr. You |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.48 |
|
UK Pound |
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
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.