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Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
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Name : |
YOUNG CHANCE ENTERPRISE CO., LTD. |
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Registered Office : |
No.7, Lane 491, Pi Feng Rd., Pi Chou Li, Tsao Tun Chen, Nan Tou Hsien, |
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Country : |
Taiwan |
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Date of Incorporation : |
01.06.1994 |
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Com. Reg. No.: |
84952903 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of leather and leather products |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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 – 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 |
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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: |
YOUNG CHANCE ENTERPRISE CO., LTD. |
|
Supplied Name: |
Young Chance Enterprise Company Ltd |
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Trading Address: |
1F, No.7, Lane 491, Pi Feng Rd., Pi Chou Li, Tsao Tun Chen, Nan Tou Hsien, Taiwan, R.O.C. |
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Supplied Address: |
No.7, Lane 491, Pi Feng Rd Pi Chou Li, Tsao Tun Chen, Nantao Hsien , |
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Telephone Number: |
+886-49-233-4827 |
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Fax Number: |
+886-49-235-5350 |
Note : The exact name and address are as above.
|
Registered Name: |
Young Chance Enterprise Co., Ltd. |
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Registered Address: |
No.7, Lane 491, Pi Feng Rd., Pi Chou Li, Tsao Tun Chen, Nan Tou Hsien, Taiwan, R.O.C. |
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Date of Foundation: |
1994-6-1 |
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Registration Number: |
84952903 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2014.1, 1 NTD = 0.0339 USD) |
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Legal Representatives: |
Qiumei Li |
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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 1994-6-1 with registered number 84952903 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Qiumei Li |
3,900,000 |
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
Directors
|
Name |
Qiumei Li |
|
Position |
Director |
Personnel Structure
|
Total Employees |
About 10 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
1F, No.7, Lane 491, Pi Feng Rd., Pi Chou Li, Tsao Tun Chen, Nan Tou Hsien, Taiwan, R.O.C. |
Production Information
Subject is a trader of leather and leather products, etc without any production activities
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Trading of leather, leather clothing, leather suitcase, gloves and other leather products |
|
-- |
Agent, import and export of above items |
It is introduced that subject purchases its products mainly in domestic market.
The subject is mainly engaged in sales of leather and leather products, etc.
It is introduced that subject’s major products are suede, cow suede, doeskin and etc.
It is introduced that subject’s major selling territory is mainly in Asia.
It is introduced that subject’s major customers are manufacturers of leather products.
It is introduced that subject’s products are applied to the bags, shoes, belt and etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Leather and leather products, etc. |
COD, CBD, etc |
100% |
Foreign Purchase
Subject has little import.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Leather and leather products, etc. |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Leather and leather products, etc. |
CBD, 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. Lin 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
|
2012,Toujian,331 |
|
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Date of Trial: |
2012-12-20 |
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Reason: |
Confirm the creditor's rights |
|
Name |
Ms. Lin |
|
Department |
Sales Department |
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.90 |
|
|
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
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.