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Report Date : |
24.02.2014 |
IDENTIFICATION DETAILS
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Name : |
FOXCONN INTERNATIONAL CO., LTD. |
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Registered Office : |
No.26, Ln. 42, Sec. 2, Xizun St., Shulin
Dist., New Taipei City 23853 |
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Country : |
Taiwan |
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Date of Incorporation : |
19.06.2002 |
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Com. Reg. No.: |
79984911 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
· Engaged in trading of daily supplies including umbrellas, raincoats, helmet & gloves ·
Wholesaler of medical devices. ·
Wholesaler of cloth, apparels, shoes, caps,
umbrellas and garment’s accessories. ·
Wholesaler of hardware. ·
Wholesaler of daily supplies. ·
Wholesaler of cleaning supplies. ·
Wholesaler of plastic film and bags. ·
Wholesaler of products for culture and
education, musical instrument and sports. |
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No. of Employees |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.26, Ln. 42,
Sec. 2, Xizun St., Shulin Dist., New Taipei City 23853, Taiwan (R.O.C.) |
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Supplied Address: |
26, Lane 42, Si
Tsun St., Sec, New Tai Pei City, Shulin Dist New Taipei City ,Taiwanz |
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Telephone Number: |
+886-2-2680-5800 |
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Fax Number: |
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E-mail: |
Notes: The exact name
and address are as above.
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Credit Opinion: |
Subject was incorporated on 2002-6-19 with registered number 79984911 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Zhenfang Wang |
5,000,000 |
The information
above is that of subject’s major shareholders.
Subject did not introduce whether it has
any subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Core
Management
|
Name |
Zhenfang Wang |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 10
Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.26, Ln. 42, Sec. 2, Xizun St., Shulin
Dist., New Taipei City 23853, Taiwan (R.O.C.) |
Production
Information
l
Subject is a trader of daily supplies without any production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F108031 |
Wholesales of medical devices. |
|
F104110 |
Wholesales of cloth, apparels, shoes,
caps, umbrellas and garment’s accessories. |
|
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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F107190 |
Wholesales of plastic film and bags. |
|
F109070 |
Wholesales of products for culture and
education, musical instrument and sports. |
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F114030 |
Wholesales of parts and components of
automobile and locomotive. |
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F204110 |
Retails of cloth, apparels, shoes, caps,
umbrellas and garment’s accessories. |
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F206010 |
Retails of hardware. |
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F206020 |
Retails of daily supplies. |
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F207190 |
Retails of plastic film and bags. |
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F213110 |
Retails of batteries. |
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F214030 |
Retails of parts and components of
automobile and locomotive. |
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F207030 |
Retails of cleaning supplies. |
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F401010 |
International trading business. |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
Subject imports its products from Vietnam
l The subject is
mainly engaged in sales of daily
supplies
l
It is introduced that
subject’s major products are umbrellas, raincoats, helmet & gloves.
l
It is introduced that subject’s selling territory
is mainly in Taiwan, Japan, USA, Europe and etc.
l
It is introduced that subject’s major customers are
supermarkets and etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
The subject has
little purchase in domestic market.
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Daily supplies and etc. |
CBD
and etc |
100% |
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Daily
supplies and etc. |
COD,
CBD and etc |
100% |
Export
|
Payment Terms |
Proportion |
|
|
Daily supplies
and etc. |
CBD and 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 Ms. Wang declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not 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. Wang |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
|
UK Pound |
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
NB |
New Business |
-- |
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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.