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Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
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Name : |
GIANT &
MEDCOM CORP. |
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Formerly Known As : |
Giant Medical Corp. |
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Registered Office : |
5F., No.127, Sec. 1, Fu-Hsing S. Rd., Da-An
District, |
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Country : |
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Date of Incorporation : |
11.03.1981 |
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Com. Reg. No.: |
30939019 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· Trader of Pharmaceutical Products bearing the brands name such as “Xanthium”, “Erispan”, “Salagen”, “Fleet”, “Summers Eve” and “FlexNow” Wholesaler of beverage Wholesaler of food Wholesaler of western medicine Wholesaler of medical devices Wholesaler of cosmetic |
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No of Employees : |
About 200 Employees (Group) |
RATING & COMMENTS
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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 |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Taiwan's diplomatic isolation, low birth rate,
and rapidly aging population are other major long-term challenges. Free trade
agreements have proliferated in East Asia over the past several years, and
following the landmark Economic Cooperation Framework Agreement (ECFA) signed
with China in June 2010, Taiwan in July 2013 signed a free trade deal with New
Zealand—Taipei’s first-ever with a country with which it does not maintain
diplomatic relations—and in November inked a trade pact with Singapore.
Negotiations continue on follow-on components of ECFA regarding trade in goods
and a dispute resolution mechanism; a trade in services agreement is under
review in the legislature. 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
overall trade surplus largely because of its surplus with China, and its
foreign reserves are the world's sixth largest, behind China, Japan, Saudi
Arabia, Russia, and Switzerland. 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. Taiwan since
2009 has gradually loosened rules governing Chinese investment on the island,
and has also secured greater market access for its investors in the mainland.
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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|
Former Name: |
Giant Medical Corp. |
|
Supplied Name: |
|
|
Trading Address: |
5F., No.127,
Sec. 1, Fu-Hsing S. Rd., Da-An District, Taipei City 10666, Taiwan (R.O.C.) |
|
Supplied Address: |
5F, No. 127,
Sec. 1, Fu-hsing S. Rd., Da-An District, Taipei City 10666, Taiwan |
|
Telephone Number: |
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|
Fax Number: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1981-3-11 with registered number 30939019 as Joint Stock Company in Taiwan.
Change of Name
|
Former Name |
Giant Medical Corp. |
|
Current Name |
Giant & Medcom Corp. |
|
Name |
Subscription Shares |
|
Dengbin Xiao |
345,100 |
|
Caizhou Jian |
|
|
50,000 |
|
|
Youwei Xiao |
495,000 |
The information above is that of subject’s major shareholders.
Related Company
|
Name |
Universal Integrated Corp. |
|
Address |
5F., No.129, Sec. 1, Fuxing S. Rd., Da-An
District, Taipei City 10666, Taiwan (R.O.C.) |
|
Date of Foundation |
1986-8-7 |
|
Registration Number |
22180049 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 60,000,000 (USD 2,040,000) (As of 2014.07, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 40,000,000 (USD 1,360,000) |
|
Legal Representatives: |
Xiejun Qiu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-9-30 |
Core Management
|
1 |
|
|
Name |
Dengbin Xiao |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Caizhou Jian |
|
Position |
Director |
|
3 |
|
|
Name |
Youwei Xiao |
|
Position |
Director |
|
4 |
|
|
Name |
Xiuwen Xiao |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 200
Employees (Group) |
Offices &
Factories
|
|
Headquarters |
|
Add |
5F., No.127, Sec. 1, Fu-Hsing S. Rd., Da-An
District, Taipei City 10666, Taiwan (R.O.C.) |
l
Subject is a trader of pharmaceutical
products without any production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F102040 |
Wholesale of beverage |
|
F102170 |
Wholesale of food |
|
F108021 |
Wholesale of western medicine |
|
F108031 |
Wholesale of medical devices |
|
F108040 |
Wholesale of cosmetic |
|
F203010 |
Retail of food and beverage |
|
F208021 |
Retail of western medicine |
|
F208031 |
Retail of medical devices |
|
F208040 |
Retail of cosmetic |
|
F401010 |
International trade business |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
It is introduced that subject purchases products from
both home and abroad such as Taiwan, Europe, America,
Japan, etc and we obtained some detail information as follows for reference.
|
Brand |
Original Area |
Product |
|
Summers Eve |
USA |
Healthcare Product |
|
Sensimin |
Japan |
Skin Care Product |
|
Biotene |
USA |
Dental Hygiene Product |
|
Fleet |
USA |
Gut Purge Product |
l
Subject is engaged in sale of pharmaceutical
products,
l
Subject is the distributor of many brands such as “Xanthium”, “Erispan”, “Salagen”, “Fleet”, “Summers Eve”
and “FlexNow”
l
Subject’s sales region is mainly in Taiwan domestic
market.
l
Subject’s major customers are hospital, clinic,
healthcare centre and individuals, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Pharmaceutical
products |
Cash,
T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Pharmaceutical
products |
T/T,
etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Pharmaceutical
products |
Cash,
T/T, etc |
100% |
Export
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. Chen 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. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.73 |
|
UK Pound |
1 |
Rs.102.36 |
|
Euro |
1 |
Rs.81.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
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 |
|
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.