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Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
JOHNSON SEAFOOD CO., LTD. |
|
|
|
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Registered Office : |
1F., No.193, 195, Fo Daw Rd., Chang Zun
Dist., Kaohsiung City, Taiwan, R.O.C. |
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Country : |
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|
|
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Date of Incorporation : |
12.06.1996 |
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|
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Com. Reg. No.: |
89761988 |
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|
|
Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Importer and sales of seafood |
|
|
|
|
No of Employees : |
About 30 |
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. In 2009, Taiwan's GDP
contracted 1.8%, due primarily to a 13.1% year-on-year decline in exports. In
2010 GDP grew 10.7%, as exports returned to the level of previous years, and in
2011, grew 4.0%. In 2012, however, growth fell to 1.3%, because of softening
global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging
population are major long-term challenges. Free trade agreements have
proliferated in East Asia over the past several years, but except for the
landmark Economic Cooperation Framework Agreement (ECFA) signed with China in
June 2010, so far Taiwan has been excluded from this greater economic
integration in part because of its diplomatic status. Negotiations continue on
such follow-on components of ECFA regarding trade in goods and services. The MA
administration has said that the ECFA will serve as a stepping stone toward
trade pacts with other key trade partners, which Taiwan subsequently launched
with Singapore and New Zealand. 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
trade surplus largely because of its surplus with China, and its foreign
reserves are the world's fifth largest, behind China, Japan, Saudi Arabia, and
Russia. 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. Three financial memorandums of understanding,
covering banking, securities, and insurance, took effect in mid-January 2010,
opening the island to greater investments from the mainland's financial firms
and institutional investors, and providing new opportunities for Taiwan
financial firms to operate in China. 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: |
1F., No.193, 195, Fo Daw Rd., Chang Zun
Dist., Kaohsiung City, Taiwan, R.O.C. |
|
Supplied Address: |
1F No 193 195 Fo Daw Rd Chang Zun Dist
Kaohsiung Citytaiwan Roc |
|
Telephone Number: |
+886-7-882-1812 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as above.
Subject was
incorporated on 1996-6-12 with registered number 89761988 as Joint Stock Company in Taiwan.
Change of Name
|
Former Chinese Name |
佳陞水產有限公司 |
|
Current Chinese Name |
佳陞水產股份有限公司 |
|
Name |
Subscription
Shares |
|
Zhipeng Chen |
3,931,000 |
|
Jiayin Lin |
|
|
2,269,000 |
|
|
Xiping Chen |
70,000 |
The information above is that of subject’s major shareholders.
Related Company
|
Registered Name: |
United Ocean Foods Co., Ltd. |
|
Registered Address: |
1F., No.193, Fodao Rd., Qianzhen Dist.,
Kaohsiung City 806, Taiwan (R.O.C.) |
|
Date of Foundation: |
2009-9-21 |
|
Registration Number: |
29028230 |
|
Registry: |
Economic Development Board of Kaohsiung City
Government |
|
Registered Capital: |
NTD 60,000,000 (USD
2,040,000) (As of 2014.02, 1 NTD = 0.034 USD) |
|
Paid-up Capital: |
NTD 60,000,000 (USD 2,040,000) |
|
Legal Representatives: |
Jiayin Lin |
|
Legal Form: |
Joint Stock Company |
|
Listed
at Stock Exchange: |
No |
|
Date
of Last Annual Return: |
2012-10-15 |
Core Management
Directors
|
1 |
|
|
Name |
Zhipeng Chen |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jiayin Lin |
|
Position |
Director |
|
3 |
|
|
Name |
Xiping Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Yingzhou Li |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 30 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
1F., No.193, 195, Fo Daw Rd., Chang Zun Dist., Kaohsiung City, Taiwan,
R.O.C. |
Production Information
l
Subject is a trader of seafood without any
production activities.
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Import and export of seafood |
|
-- |
General trading business (besides licensed
business) |
|
F101030 |
Wholesales of fruit |
|
F101050 |
Wholesales of aquatic product |
|
F102010 |
Wholesales of frozen food |
|
F102070 |
Wholesales of canned food |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted |
l
It is introduced that
subject purchases product mainly from abroad such as Australia, Bangladesh, Canada, Chile,
India, Japan, Mexico, New Zealand, Norway, Thailand and Vietnam, etc.
l
Subject is engaged in sales of seafood.
l
Subject’s sales region is major in domestic market.
l
Subject’s major customers include wholesaler,
hotel, and chain restaurants, etc.
l
Subject has its own cold storage to store its
products.
Major products
|
|
Product |
|
1 |
Halibut |
|
2 |
Mackerel |
|
3 |
Plaice |
|
4 |
Sea Bass |
|
5 |
Trout |
|
6 |
Crab-King |
|
7 |
Shrimp-White |
|
8 |
Cuttlefish |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
|
Product |
Terms |
Proportion |
|
Seafood, etc |
Cash, T/T, etc |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Seafood, etc |
L/C, T/T, etc |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Seafood, etc |
Cash, T/T, etc |
100% |
Export
Subject has little export.
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. Chen declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we cannot obtain the relevant information, either.
Subject declined to
disclose its bank details; from other source we cannot 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.
|
Name |
Ms. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.19 |
|
|
1 |
Rs. 102.13 |
|
Euro |
1 |
Rs. 84.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.