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Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
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Name : |
YUNG XING ENTERPRISE CO., LTD. |
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Registered Office : |
5F., No.18, Aly. 51, Ln. 120, Sec. 3, Taichung Port Rd.,
Xitun Dist., Taichung City 40764, |
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Country : |
Taiwan |
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Date of Incorporation : |
02.01.2002 |
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Com. Reg. No.: |
13002662 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of machinery |
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No. of Employees |
05 |
RATING & COMMENTS
|
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
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
5F., No.18, Aly. 51, Ln. 120, Sec. 3, Taichung Port Rd., Xitun Dist., Taichung City 40764, Taiwan |
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Supplied Address: |
|
|
Telephone Number: |
+886-4-2463-1781 |
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Fax Number: |
Notes: The exact
name and address are as above.
|
Registered Name: |
YUNG XING
ENTERPRISE CO., LTD. |
|
Registered Address: |
5F., No.18, Aly. 51, Ln. 120, Sec. 3, Taichung Port Rd., Xitun Dist., Taichung City 40764, Taiwan |
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Date of Foundation: |
2002-1-2 |
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Registration Number: |
13002662 |
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Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2014.06, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Jieqi Xin |
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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 2002-1-2 with registered number 13002662 as Private Limited Liability Company in Taiwan.
Change of Name
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Former Chinese Name |
永曜恩貿易有限公司 |
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Current Chinese Name |
永辛企業有限公司 |
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Former English Name |
Yung Yaio En Trading Co., Ltd. |
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Current English Name |
Yung Xing Enterprise Co., Ltd. |
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Name |
Subscription Amount |
|
Jieqi Xin |
5,000,000 |
The information above is that of subject’s major shareholders.
Subject did not introduce whether it has any subsidiaries or branches, from other source we cannot obtain the relevant information, either.
Core Management
|
Name |
Jieqi Xin |
|
Position |
Director |
Personnel Structure
|
Total Employees |
About 5 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
5F., No.18, Aly. 51, Ln. 120, Sec. 3, Taichung Port Rd., Xitun Dist., Taichung City 40764, Taiwan |
Production Information
Subject is a trader of machinery, etc without any production activities.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F113010 |
Wholesale of machinery |
|
F206030 |
Retail of mould |
|
CQ01010 |
Manufacturing of mould |
|
F106030 |
Wholesale of mould |
|
F401010 |
International trade business |
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F102170 |
Wholesale of grocery |
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F104110 |
Wholesale of textile, garment, shoes, hat, umbrella and accessories |
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F105050 |
Wholesale of furniture, bedding, kitchen utensil and decoration |
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F106020 |
Wholesale of daily supplies |
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F113030 |
Wholesale of precise instrument |
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F113050 |
Wholesale of computer and office equipment |
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F501060 |
Restaurant industry |
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ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
Subject purchases products mainly in Taiwan domestic market.
Subject is engaged in sale of machinery, etc.
The major products sold by subject include used machinery, rolling mill, gear hobber, boring machine, lathe and so on.
Subject’s sales regions include domestic market and other Asian countries, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Machinery, etc |
T/T, Cash, etc |
100% |
Foreign Purchase
Subject has little import.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Machinery, etc |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery, etc |
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 Mr. Zhu 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 any information about bankers, and we can not obtain the
information from other source.
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. Zhu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.20 |
|
|
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
NIS |
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 |
-- |
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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.