|
Report Date : |
06.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
GRAN BROTHERS
COMPANY LTD. |
|
|
|
|
Registered Office : |
4Fl-1, No.161, Sec.4, Nanking E. Rd., Taipei
|
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
13.06.1978 |
|
|
|
|
Com. Reg. No.: |
12176448 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
engaged in trading machinery and components including Zipper, Slider, Zipper Machines, Needle Loom, Hook & Loop Making Machines, Dosing Machine, Blender, Dryer, Bulk Material Handling Equipment, Conveying and Recycling Equipment |
|
|
|
|
No of Employees : |
About 25 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
ROOM NO.4-1 4TH FOOR,NO.161,SEC
4, NANKING EAST EST ROAD, TAIPEI, TAIWAN, ROC |
|
Telephone Number: |
+886-2-2546-6120/ 2546-6097 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1978-6-13 with registered number 12176448 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Meihui Liu |
5,000,000 |
The information above is that of subject’s major shareholders.
Office
|
Name: |
Guangzhou Office |
|
Address: |
Room 701, 7/F., No.37, Yong-an Yue Road, Renmin North Street,
Guangzhou City, Guangdong Province, China |
|
Telephone Number: |
+86-20-8358-5085 |
|
Fax Number: |
+86-20-8357-6727 |
Core Management
|
Meihui Liu |
|
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 25 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a trader of machinery and components without any
production activities.
Purchase
Information
l
The registered activities of subject:
|
1 |
Import and export products (besides licensed business) |
|
2 |
Import, export, sales and maintenance of
automatic machine and components |
|
3 |
As agent assists in quoting, bidding and
distributing about home and abroad products |
l
Subject purchases zippers, zipper machines
and whole plant of zipper making machinery mainly from Taiwan and Mainland
China
l It is
introduced that subject purchases ancillary equipment of plastic industry
mainly from abroad and its major suppliers are Matcon Group Ltd (UK) and
“Colortronic” (USA
l Subject
is engaged in sale of machinery and
components
l
The major products sold by subject
include zipper, slider, zipper machines, needle loom, hook & loop making
machines, dosing machine, blender, dryer, bulk material handling equipment,
conveying and recycling equipment
l
Subject’s sales regions include Taiwan,
Mainland China, Europe and America, etc.
l
Subject’s major customers are Cierres
Best De Mexico S.A. De C.V. (Mexico) and 3.Dunlap Industries Inc (USA), etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Machinery and components |
T/T,
Cash, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Machinery and components |
L/C,
T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Machinery and components |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery and components |
L/C,
T/T, 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. Lai declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name |
The First Commercial Bank, Shih Lin Branch |
Note: The supplied bank information is not confirmed by subject’s relevant
staff; from other sources, the relevant information is not available, 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. Lai |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.30 |
|
UK Pound |
1 |
Rs.99.34 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
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.