|
Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
JIN JIH BAO AN
CO., LTD. |
|
|
|
|
Registered Office : |
No.338, Ho Shing
Rd., Qiding Li, Chunan Town, Miaoli County, |
|
|
|
|
Country : |
Taiwan |
|
|
|
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Date of Incorporation : |
29.11.1984 |
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|
|
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Com. Reg. No.: |
02927792 |
|
|
|
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Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Trading of
traditional Chinese medicinal materials |
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|
|
|
No. of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
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Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.338, Ho Shing Rd., Qiding Li, Chunan Town, Miaoli County, Taiwan
R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-3-758-4999 |
|
Fax Number: |
Notes: Subject’s
exact name and address are as above.
Subject
was incorporated on 1984-11-29 with registered number 02927792 as Joint Stock
Company in Taiwan.
|
Name |
Subscription Shares |
|
Canming Lin |
268,000 |
|
Xinying Lin |
|
|
20,000 |
|
|
Meili Chen |
160,000 |
|
Tingning Lin |
20,000 |
The information above is that of subject’s major shareholders.
Core Management
Directors
|
1 |
|
|
Name |
Canming Lin |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Xinying Lin |
|
Position |
Director |
|
3 |
|
|
Name |
Meili Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Tingning Lin |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 30 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.338, Ho Shing Rd., Qiding Li, Chunan Town, Miaoli County, Taiwan R.O.C. |
Production Information
Subject is a trader of traditional Chinese medicinal materials without any production activities.
Purchase Information
The registered activities of subject:
|
|
Details |
|
1 |
Buying and selling, wholesale and import and export business of Chinese medicine and grass medicine. |
|
2 |
Manufacturing, buying and selling, wholesale and import and export business of drink, health food, snack, gruel, etc. |
|
3 |
Section, milling, processing, manufacturing, buying and selling, import and export of Chinese medicine. |
|
4 |
Processing, buying and selling, import and export of manioc (Brown powder particle) and corn flour. |
|
5 |
Manufacturing and processing of semen coicis, lotus seed, black and white pepper, gordon euryale seed, white nuts cassia, cassia twig piece, cortex phellodendri piece, seasoning spices and related spices. |
|
6 |
Manufacturing, buying and selling, import and export of other products. |
Subject imports traditional Chinese medicinal materials from Southeast Asia.
Subject is engaged in sale of traditional Chinese medicinal materials, etc.
Subject’s sales region is mainly in Taiwan domestic market.
The general delivery lead time of subject is about 35 days.
Subject’s main customers are drugstores, clinics and hospitals, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little domestic purchase.
Foreign Purchase
|
Terms |
Proportion |
|
|
Traditional Chinese medicinal materials |
L/C, T/T, etc |
100% |
Sales
Domestic Markets (Taiwan)
|
Terms |
Proportion |
|
|
Traditional Chinese medicinal materials |
Cash, etc. |
100% |
Export
Subject has little export.
|
Name |
Bank of Taiwan |
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
033906 |
|
Debtor Name: |
Jin Jih Bao An
Co., Ltd. |
|
Document Number: |
310415 |
|
Date of Registration: |
1989-07-26 |
|
Date of
Alteration: |
1989-07-26 |
|
Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
035908 |
|
Debtor Name: |
Jin Jih Bao An
Co., Ltd. |
|
Document Number: |
199454 |
|
Date of
Registration: |
1990-07-12 |
|
Date of
Alteration: |
1990-07-12 |
|
Status: |
Paid off |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Mr. Lu |
|
Position |
Manager |
|
Department |
Sales |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
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.