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Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
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Name : |
H. SAGA INTERNATIONAL CO., LTD. |
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Registered Office : |
11f.,
No.132, Sec. 2, Nanjing E. Rd., Zhongshan Dist., Taipei City 10489 |
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Country : |
Taiwan |
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Date of Incorporation : |
11.08.2009 |
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Com. Reg. No.: |
25011341 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· engaged in sales of plastic materials · The major products sold by subject include HDPE, Dicumyl Peroxide DCP, PP, EVA, Stainless Steel coil & Stainless Steel pipe |
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No. of Employees |
About 60 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Slow but Correct |
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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 |
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High |
B2 |
|
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.
|
Source : CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
11f., No.132,
Sec. 2, Nanjing E. Rd., Zhongshan Dist., Taipei City 10489, Taiwan (R.O.C.) |
|
Supplied Address: |
11F, No. 132,
Sec 2 Nanjing E Rd, Zhongshan Dist Taipei City 10489 |
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Telephone Number: |
+886-2-2509-1810 |
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Fax Number: |
Notes: The exact name and address are as above.
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Credit Opinion: |
|
Registered Name: |
H. Saga International Co., Ltd. |
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Registered Address: |
11f.,
No.132, Sec. 2, Nanjing E. Rd., Zhongshan Dist., Taipei City 10489, Taiwan
(R.O.C.) |
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Date of Foundation: |
2009-8-11 |
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Registration Number: |
25011341 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2014.2, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 27,000,000 (USD 915,300) |
|
Legal Representatives: |
Mingjing Xie |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated on 2009-8-11 with registered number25011341 as Joint Stock Company in Taiwan.
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Subscription
Shares |
|
|
Port Alliance Supply Chain Solutions Co.,
Ltd. |
2,700,000 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
Registered Name: |
Port Alliance Supply Chain Solutions Co., Ltd. |
|
Former Name |
Port Supply Chain Solutions Ltd. |
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Registered Address: |
11f., No.132, Sec. 2, Nanjing E.
Rd.,Zhongshan Dist., Taipei City 10489, Taiwan |
|
Date of Foundation: |
2009-12-16 |
|
Registration Number: |
25089298 |
|
Registry: |
Taipei City Government |
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Registered Capital: |
NTD 150,000,000 (USD 5,085,000) (As of 2014.2, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 102,700,000 (USD 3,481,530) |
|
Legal Representatives: |
Mingjing Xie |
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Legal Form: |
Joint Stock Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2012-11-16 |
Parent Company
|
Name: |
Port Alliance Supply Chain Solutions Co., Ltd. |
|
Address: |
11f., No.132, Sec. 2, Nanjing E.
Rd.,Zhongshan Dist., Taipei City 10489, Taiwan |
Core
Management
|
1 |
|
|
Name |
Mingjing Xie |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Jianwei Wang |
|
Position |
Director |
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3 |
|
|
Name |
Tingyi Chen |
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Position |
Director |
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4 |
|
|
Name |
Peiyi Cai |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 60
Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
11f., No.132, Sec. 2, Nanjing E. Rd.,
Zhongshan Dist., Taipei City 10489, Taiwan (R.O.C.) |
Production
Information
l
Subject is a trader of plastic materials without any production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F401010 |
The international trade |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l The products are
purchased from both home and abroad
l The subject is mainly
engaged in sales of plastic materials
l The major products
sold by subject include HDPE, Dicumyl Peroxide DCP, PP, EVA, Stainless Steel
coil & Stainless Steel pipe
l The subject sales regions include Asia, America, Europe
l It is introduced subject has cooperate with PT. Indah Kiat Pulp And Paper Tbk,
Sun Paper (hong Kong) Co., Limited, Pt. Pindo Deli Pulp And Paper Mills
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
1.
Domestic Purchase
|
Products |
Plastic materials, etc |
|
Terms |
Cash, T/T, etc |
2.
Import
|
Products |
Plastic materials, etc |
|
Terms |
Sales
1.
Domestic Markets
|
Product |
Plastic materials, etc |
|
Terms |
T/T, Cash, etc |
2.
Export
|
Products |
Plastic materials, etc |
|
Terms |
L/C, 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
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 |
Mr. Li |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
UK Pound |
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>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.