.
|
Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAEMEX COMPANY LIMITED |
|
|
|
|
Registered Office : |
13F.-9, No.68, Sec. 4, |
|
|
|
|
Country : |
|
|
|
|
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Date of Incorporation : |
21.10.2002 |
|
|
|
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Com. Reg. No.: |
80345694 |
|
|
|
|
Legal Form : |
Branch of Daemex Company Limited |
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|
|
|
Line of Business : |
Trader of diamond, precious metal and
jewelry |
|
|
|
|
No of Employees : |
About 5 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
13F.-9, No.68, Sec. 4, Ren-Ai Rd., Da-An
District, Taipei City 106, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2705-4591 |
|
Fax Number: |
+886-2-2705-4876 |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
|
Risk Analysis: |
Average creditworthiness |
|
Registered Name: |
Daemex Company Limited Taiwan Branch (H.K.) |
|
Registered Address: |
13F.-9, No.68, Sec. 4, Ren-Ai Rd., Da-An District, Taipei City 106,
Taiwan (R.O.C.) |
|
Date of Foundation: |
2002-10-21 |
|
Registration Number: |
80345694 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
In the Republic of China Operating Funds: |
(As of 2014.01, 1 NTD = 0.0340 USD) |
|
Litigation and Non-litigation Agent's Name:: |
Chauhan Sanjay Amrutlal |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated
on 2002-10-21 with registered number 80345694 as Branch of Daemex
Company Limited in Taiwan.
|
Name |
Daemex Company Limited |
|
Place of Origin |
Hong
Kong |
|
% of
Investment |
100% |
Head Office
|
Name |
Daemex Company Limited |
|
Registration Number: |
0332890 |
|
Date of Foundation: |
1991-11-12 |
Core Management
|
Name |
Jethva
Yogeshkumar Chakubhai |
|
Position |
Manager |
Personnel
Structure
|
Total Employees |
About 5 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
13F.-9, No.68, Sec. 4, Ren-Ai Rd., Da-An District, Taipei City 106,
Taiwan (R.O.C.) |
Production
Information
l
Subject is a trader of
diamond, precious metal and jewelry, without any production activities.
Purchase
Information
l
The registered
activities of subject:
|
Business Code |
Details |
|
F115010 |
Wholesale of jewelry and
precious metal |
|
F215010 |
Retail of jewelry and
precious metal |
|
F401010 |
International trade
business |
l
Subject purchases
products mainly from abroad such as India.
l
Subject is engaged in sale of diamond,
precious metal and jewelry.
l
Subject’s sales regions include Taiwan domestic
market, Mainland China, and Southeast Asia.
l
Subject’s major customers are jewelry
manufacturer.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic
Purchase
Subject
has little domestic purchase.
Foreign
Purchase
|
Terms |
Proportion |
|
|
T/T |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Precious
metal |
T/T, Cash |
100% |
Export
|
Terms |
Proportion |
|
|
Precious
metal |
L/C, T/T |
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 declined to disclose
its financials citing the grounds of company’s confidentiality; from other
source we cannot 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. You |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.71 |
|
|
1 |
Rs. 103.50 |
|
Euro |
1 |
Rs. 85.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.