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Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
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Name : |
ROYALBRAND MINTEX CO., LTD. |
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Formerly Known As : |
SUN MING TEXTILE CO., LTD. |
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Registered Office : |
12fl, No.62, Sec. 1, Fu Hsing S. Rd., Da-An
District, Taipei City 106 |
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Country : |
Taiwan |
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Date of Incorporation : |
23.07.2003 |
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Com. Reg. No.: |
80500246 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing And Sales Of Zippers And
Related Products |
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No. of Employees : |
About 150 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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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Former Name: |
Sun Ming Textile Co., Ltd. |
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Supplied Name: |
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Trading Address: |
12fl, No.62,
Sec. 1, Fu Hsing S. Rd., Da-An District, Taipei City 106, Taiwan R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-2-2781-7077 |
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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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Registered Name: |
Royalbrand Mintex Co., Ltd. |
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Registered Address: |
12fl, No.62, Sec. 1, Fu Hsing S. Rd., Da-An
District, Taipei City 106, Taiwan R.O.C. |
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Date of Foundation: |
2003-7-23 |
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Registration Number: |
80500246 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2014.1, 1 NTD = 0.0339 USD) |
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Legal Representatives: |
Zhiming Chen |
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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 2003-7-23 with registered number 80500246
as Private Limited Liability Company in Taiwan.
Change of Name
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Former English Name |
Sun Ming Textile Co., Ltd. |
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Current English Name |
Royalbrand Mintex Co., Ltd. |
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Subscription Shares |
||
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Atics Industrial Corp. |
6,600,000 |
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The information above is that of subject’s major shareholders.
Shareholder Information:
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Registered Name: |
Atics Industrial Corp. |
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Registered Address: |
12th Fl. No. 62, Sec. 1, Fu Hsing South Rd.
Taipei, Taiwan R.O.C. |
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Date of Foundation: |
1978-5-31 |
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Registration Number: |
12175807 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 65,000,000 (USD 2,203,500) (As of 2014.1, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 65,000,000 (USD 2,203,500) |
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Legal Representatives: |
Xiuyu Liu |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2013-5-27 |
Factory
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1 |
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Name: |
Tianzhong Factory |
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Address: |
1F, No3 78, Laonong Road, Shalun Alley, Tianzhong Town, Zhanghua
County |
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Date of Registration: |
2013-8-9 |
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Factory Registration Number: |
07000916 |
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Factory Manager: |
Xiuyu Liu |
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Status: |
In Production |
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Date of Last Annual Return: |
2013-8-9 |
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2 |
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Name: |
Beidou Factory |
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Address: |
No. 88, 1 Sec, Sihai Road, Daxin Alley, Beidou Town, Zhanghua County |
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Date of Registration: |
2003-12-29 |
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Factory Registration Number: |
99679256 |
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Factory Manager: |
Zhiming Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2003-12-29 |
Core Management
Directors
|
Name |
Zhiming Chen |
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Position |
Director |
Personnel
Structure
|
Total Employees |
About 150 Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
12fl, No.62, Sec. 1, Fu Hsing S. Rd., Da-An District, Taipei City 106,
Taiwan R.O.C. |
Production
Information
·
Subject is engaged in manufacturing of zippers and related products
·
Subject has 2 factories in Taiwan for production.
·
Subject obtained the certification of ISO9001.
·
It is introduced subject provide OEM service.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
C301010 |
The spinning industry |
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C302010 |
Weaving industry |
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C307010 |
Garment accessories manufacturing |
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C306010 |
garment industry |
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C307020 |
Zipper manufacturing |
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CB01010 |
Machinery and equipment manufacturing |
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F104010 |
Cloth from wholesalers |
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F104020 |
Clothing wholesale |
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F104080 |
Textile line wholesaling |
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F104050 |
Garment accessories wholesale |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
The components and raw material for production are purchased both home and abroad.
The subject is
mainly engaged in sales of zippers and related products
The major products sold by subject include
Polyester zippers, Plastic molded zippers, Invisible zippers, Metal zippers,
Sliders and zipper components, Raw materials for making zippers, Zipper
machines and parts.
The subject sales regions include Asia,
America, Europe
Subject sales the product with the brand of ATIC
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Products |
Components and raw material |
|
Terms |
Cash, T/T |
Import
|
Products |
Components and raw material |
|
Terms |
Sales
Domestic Markets
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Product |
Zippers and related products |
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Terms |
T/T, Cash |
|
Products |
Zippers and related
products |
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Terms |
L/C |
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. Liu 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. Liu |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.41 |
|
|
1 |
Rs.102.54 |
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Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
|
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 |
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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.