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Report Date : |
27.06.2014 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL CHERNG
INDUSTRIAL CO., LTD. |
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Registered Office : |
2F., No.124, Cheng-De Road, Sec.4, Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
16.01.1995 |
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Com. Reg. No.: |
89961135 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· engaged in trading of food and agriculture products including mung bean, sesame, canned food, candy and cookies Engaged as Retailer of animal
products Engaged as Retailer of aquatic
product Engaged as Wholesaler of
domestic animals and fowls Engaged as Wholesaler of
vegetable and fruit Engaged as Wholesaler of edible
fat and oil |
|
|
|
|
No of Employees : |
About 5 Employees |
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 |
|
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 |
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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: |
Notes: The exact
name and address are as above.
Subject was incorporated
on 1995-1-16 with registered number 89961135 as Joint Stock
Company in Taiwan.
Former Address
|
1F, Jili Street, Beitou District, Taipei
City, Taiwan. |
|
Name |
Subscription Shares |
|
Xinfa Chen |
1,280,000 |
|
Yipin Chen |
|
|
310,000 |
|
|
Yurong Chen |
310,000 |
|
Jingfen 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 cannot obtain the
relevant information, either.
Core Management
|
1 |
|
|
Name |
Xinfa Chen |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yipin Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Yurong Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Jingfen Lin |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 5 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a trader of food and agriculture products without any
production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F106020 |
Wholesale of daily supplies |
|
F206020 |
Retail of daily supplies |
|
F401010 |
International trade business |
|
F101130 |
Wholesale of vegetable and fruit |
|
F102020 |
Wholesale of edible fat and oil |
|
F201010 |
Retail of agricultural products |
|
F201020 |
Retail of animal products |
|
F201030 |
Retail of aquatic product |
|
F101040 |
Wholesale of domestic animals and fowls |
|
F101050 |
Wholesale of aquatic product |
|
A102060 |
Grain industry |
|
F103010 |
Wholesale of feed |
|
F202010 |
Retail of feed |
|
F107050 |
Wholesale of fertilizer |
|
F207050 |
Retail of fertilizer |
|
F101081 |
Wholesale of germchit |
|
F201061 |
Retail of germchit |
|
F401071 |
Import of germchit |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
Subject purchases
products from both home and abroad such as Mainland China, Taiwan and India,
etc.
l
Subject is engaged in sale of food and agriculture products
l
It is introduced that subject has offices in
Mainland China which is responsible for sales business in Shandong, Guangxi and
Henan Province, China
l
The major products sold by subject
include mung bean, sesame, canned food, candy and cookies
l
Subject’s sales region is mainly in
domestic market.
l
Subject’s major customers are retailers
and individuals, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Food,
etc |
T/T,
Cash, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Food,
etc |
T/T,
etc |
100% |
Sales
Domestic
Markets (Taiwan and Mainland China)
|
Terms |
Proportion |
|
|
Food,
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 Mr. Chen 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. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.16 |
|
UK Pound |
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.82.04 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.