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Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
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Name : |
SUNFACE
INTERNATIONAL CORP. |
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Registered Office : |
5F-1, No.106, Roosevelt Road, Sec.6, Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
07.07.1978 |
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Com. Reg. No.: |
04875428 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
engaged in trading of dyes including direct dyes, acid dyes, disperse dyes, reactive dyes, mordant dyes, sulphur dyes, and basic dyes |
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No of Employees : |
About 15 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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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 sales. 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: |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Notes: The exact
name is as above.
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Credit Opinion: |
Subject was
incorporated on 1978-7-7 with registered number 04875428 as Private Limited Liability
Company in Taiwan.
|
Name |
Subscription Amount |
|
Qiulan Tao |
3,000,000 |
The information above is that of subject’s major shareholders.
Core Management
|
Name |
Qiulan Tao |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 15
Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
Production
Information
l
Subject is engaged in trading of dyes without any production activities.
Purchase
Information
l
The
registered activities of subject:
|
No. |
Details |
|
1 |
General import and export |
|
2 |
Agent of the imported products |
l The products of the subject are mainly purchased in Mainland China.
Sales Information
l
Subject is mainly engaged in trading of
dyes
l
Subject’s
major products include direct dyes, acid dyes, disperse dyes, reactive dyes, mordant
dyes, sulphur dyes, and basic dyes
l
Subject mainly sells its products in
the domestic market.
l
Subject’s major customers are
manufacturers of clothing and apparel.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
(Mainland China)
|
Terms |
Proportion |
|
|
Dyes,
etc. |
T/T,
Cash, etc. |
100% |
Foreign Purchase
Subject has little
foreign purchase.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Dyes,
etc. |
T/T,
Cash, 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 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 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 |
Ms. Tang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.26 |
|
UK Pound |
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
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 |
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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.