|
Report Date : |
21.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
WEI LI TANNING ENTERPRISE LIMITED COMPANY |
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|
|
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Registered Office : |
No.1, 23th Neighborhood, Minyou Rd., Tongluo Township, Miaoli County 36646 |
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Country : |
Taiwan |
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Date of Incorporation : |
10.06.2004 |
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Com. Reg. No.: |
27371834 |
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|
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business : |
Processing and sales of leather products |
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|
|
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No. of Employees : |
Not Available |
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 |
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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 |
|
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: |
Wei Li Tanning Enterprise Limited Company |
|
Supplied Name: |
WEI LITANNING ENTERPRISE CO LTD |
|
Trading Address: |
No.1, 23th Neighborhood, Minyou Rd., Tongluo
Township, Miaoli County 36646, Taiwan (R.O.C.) |
|
Supplied Address: |
NO.1 23TH NEGIBORHOOD, MINYOU RDTONGLUO
TOWNSHIP MIAOLI COUNTY 36646 |
|
Telephone Number: |
+886-37-986127/ 983670 |
|
E-mail: |
Notes: The exact name and address are as
above.
|
Registered Name: |
WEI LI TANNING ENTERPRISE LIMITED COMPANY |
|
Registered Address: |
No.1, 23th Neighborhood, Minyou Rd., Tongluo
Township, Miaoli County 36646, Taiwan (R.O.C.) |
|
Date of Foundation: |
2004-6-10 |
|
Registration Number: |
27371834 |
|
Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2014.06, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Xianmu Xu |
|
Legal Form: |
|
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Principal Activities: |
|
|
Staff: |
|
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Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Note: Subject declined to disclose its staff
number; from other source we cannot obtain the relevant information, either.
Subject was incorporated
on 2004-6-10 with registered number 27371834
as Private Limited Liability Company
in Taiwan.
|
Name |
Subscription Amount |
|
Xianmu Xu |
1,000,000 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No.1, 23th Neighborhood, Minyou Rd.,
Tongluo Township, Miaoli County 36646, Taiwan (R.O.C.) |
|
Date of Registration: |
2004-12-31 |
|
Factory Registration Number: |
9677442 |
|
Factory Manager: |
Xianmu Xu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2012-6-20 |
|
Major Products: |
130 leather, fur and its related products |
Core Management
|
Name |
Xianmu Xu |
|
Position |
Director |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.1, 23th Neighborhood, Minyou Rd., Tongluo Township, Miaoli County
36646, Taiwan (R.O.C.) |
Production
Information
·
Subject is engaged in processing of leather
·
Subject has a factory (land area is 0.2217
hectare) in Miaoli County, Taiwan
for production.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
C401010 |
Manufacturing of leather |
|
F401010 |
International trade business |
The raw materials for processing are purchased from both home and
abroad.
One of subject’s foreign suppliers is Expos Leather Company (Chennai,
India).
·
Subject is engaged in sale of leather products
·
Subject’s sales region focuses on Asian market.
·
Subject’s major customers are manufacturers of
garment, bag and so on.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Raw materials |
T/T, Cash |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Raw materials |
L/C, T/T |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Leather
products |
T/T, Cash |
100% |
Export
|
Terms |
Proportion |
|
|
Leather
products |
T/T |
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. Xu declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
|
Name |
Mega International Commercial Bank Co., Ltd. |
|
SWIFT Code: |
ICBCTWTP |
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. Xu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Analysis Done
by : |
SUM |
|
|
|
|
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.