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Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
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Name : |
SOUND SKETCH CORPORATION |
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|
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Registered Office : |
5F., No.276, Sec. 3, Beishen Rd., Shenkeng Dist.,
New Taipei City 22206 |
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Country : |
Taiwan |
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Date of Incorporation : |
16.07.2008 |
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Com. Reg. No.: |
29045174 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· engaged in Trading of Musical Instrument Including Keyboard, Guitar, Synthesizer, Microphone and Speaker Box · Wholesaler of Stationery, Musical Instrument & Entertainment Products · Wholesaler of Electrical Equipment · Wholesaler of Software |
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No of Employees : |
About 10 Employees |
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 – 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: |
5F., No.276, Sec.
3, Beishen Rd., Shenkeng Dist., New Taipei City 22206, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2662-9565 |
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Fax Number: |
|
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E-mail: |
Notes: The exact
name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Sound Sketch Corporation |
|
Registered Address: |
5F., No.276, Sec. 3, Beishen Rd., Shenkeng
Dist., New Taipei City 22206, Taiwan (R.O.C.) |
|
Date of Foundation: |
2008-7-16 |
|
Registration Number: |
29045174 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
NTD 8,000,000 (USD
272,000) (As of 2014.06, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 8,000,000 (USD 272,000) |
|
Legal Representatives: |
Yongkai Guo |
|
Legal Form: |
|
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Principal Activities: |
engaged in Trading of Musical Instrument Including Keyboard, Guitar, Synthesizer, Microphone and Speaker Box |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was
incorporated on 2008-7-16 with registered number 29045174 as Joint Stock
Company in Taiwan.
|
Name |
Subscription Shares |
|
Yongkai Guo |
320,000 |
|
Qiongying Guo |
|
|
120,000 |
|
|
Shouqing Guo |
80,000 |
|
Yuhua Xu |
200,000 |
The information above is that of subject’s major shareholders.
Core Management
|
1 |
|
|
Name |
Yongkai Guo |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Qiongying Guo |
|
Position |
Director |
|
3 |
|
|
Name |
Shouqing Guo |
|
Position |
Director |
|
4 |
|
|
Name |
Yuhua Xu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 10
Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
5F., No.276, Sec. 3, Beishen Rd., Shenkeng
Dist., New Taipei City 22206, Taiwan (R.O.C.) |
Production
Information
l
Subject is a trader of musical
instrument without any production activities.
Purchase
Information
l
The
registered activities of subject:
|
Business Code |
Details |
|
F109070 |
Wholesaler of Stationery, Musical Instrument & Entertainment Products |
|
F113020 |
Wholesale of electrical equipment |
|
F118010 |
Wholesale of software |
|
F209060 |
Retail of stationery, musical instrument, entertainment
products |
|
F213010 |
Retail of electrical equipment |
|
F218010 |
Retail of software |
|
F399040 |
No store retail business |
|
F401010 |
International trade business |
|
J602010 |
Entertainment activities industry |
|
JA02010 |
Repairing of electrical equipment and
electronic products |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l Subject purchases products mainly from UK, Germany, USA and Japan, etc.
l Subject’s major suppliers are Korg Inc and Amplification Ltd., etc.
l Subject is engaged in sale of musical instrument
l Subject’s major products are keyboard, guitar, synthesizer, microphone
and speaker box
l Subject is the agents of many brands “KORG”, “VOX”, “Fujigen”,
“Schecter”, “Seymour Duncan”, “KRK”, “Stanton”, “Native Instruments”,
“Charvel”, “Tom Anderson”, “Ableton”, “Spectraflex”, “Nord” and “Focusrite”,
etc.
l It is introduced that subject also sells their products through internet.
l Subject’s sales region is mainly in Taiwan domestic market.
l Subject’s major customers are retailers, instrument teams, schools,
players and individuals, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little domestic purchase.
Foreign Purchase
|
Terms |
Proportion |
|
|
Musical instrument, etc |
L/C,
T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Musical instrument, etc |
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 Mr. Guo declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name |
Chang Hwa Bank Muzha Branch |
|
Account No.: |
5352-01-002055-00 |
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. Guo |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.06 |
|
UK Pound |
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
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.