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Report Date : |
14.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ESTILO INTERNATIONAL CO., LTD. |
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|
|
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Registered Office : |
2F., No.42, Sec. 1, Mincyuan E. Rd., Jhongshan District, Taipei City 104 |
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Country : |
Taiwan |
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Date of Incorporation : |
03.08.2005 |
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Com. Reg. No.: |
27754987 |
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Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business : |
Trading of decorative materials and home
furnishings |
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|
|
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No. of Employees : |
About 10 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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: |
2F., No.42, Sec.
1, Mincyuan E. Rd., Jhongshan District, Taipei City 104, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2521-4588 |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as
above.
|
Registered Name: |
ESTILO INTERNATIONAL CO., LTD. |
|
Registered Address: |
2F., No.42, Sec. 1, Mincyuan E. Rd.,
Jhongshan District, Taipei City 104, Taiwan (R.O.C.) |
|
Date of Foundation: |
2005-8-3 |
|
Registration Number: |
27754987 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 2,000,000
(USD 68,000) (As of 2014.06, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Shufen Lin |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 2005-8-3 with registered number 27754987
as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Shufen Lin |
1,000,000 |
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 can not obtain the relevant information, either.
Core Management
|
Name |
Shufen Lin |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 10 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
2F., No.42, Sec. 1, Mincyuan E. Rd., Jhongshan District, Taipei City
104, Taiwan (R.O.C.) |
Production
Information
Subject is a trader of decorative materials
and home furnishings without any production activities.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
F401010 |
International trade business |
|
F106050 |
Wholesale of glassware and pottery |
|
F105050 |
Wholesale of furniture, bedding products, kitchenware and decorations |
|
I503010 |
Landscape and indoor design |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject purchases products mainly from abroad such as Australia, Greece
and USA
Major Products
|
Items |
Brands/Suppliers |
|
Natural and Hand Woven Fabrics |
Artvivant International (Australia) |
|
Drapery Fabrics and Sheers |
IFI Designs and Colors |
|
Decorative and Upholstery Fabrics |
Alhambra, Dizz Design, Manas, GP&J Baker, Mulberry, Threads,
Kravet, Lee Jofa, Ralph Lauren, Warwick, Westbury, Wemyss |
|
Leather |
Thomas Maxwell, Whistler Leather |
|
Wall-Coverings |
Fiona, Kravet, Threads |
|
Carpet |
Phillip Jeffries, Kravet, Top Floor |
·
The subject is mainly engaged in decorative materials and home furnishings including home
textiles, wall-coverings, carpet and accessories
·
Subject’s sales region is mainly in domestic
market.
·
Subject’s major customers are designers, retailers
and individuals
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little domestic purchase.
Foreign
Purchase
|
Terms |
Proportion |
|
|
Decorative materials and home
furnishings |
L/C, T/T |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Decorative materials and home
furnishings |
T/T, Cash |
100% |
Export
Subject has little export business
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. Xu 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 |
Ms. Xu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.48 |
|
|
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.