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Report Date : |
15.03.2014 |
IDENTIFICATION DETAILS
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Name : |
ROSEMARY FASHION LTD. |
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Registered Office : |
5/F No. 3, Lane 137, Chang Chun Road, 104 Taipei, |
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Country : |
Taiwan |
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Date of Incorporation : |
20.11.1992 |
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Com. Reg. No.: |
84100094 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in daily administrative work and files handling
service for its group but does not take orders. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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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 |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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: |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
+886-2-2537-5515 |
Notes: Subject’s exact
name and address are as above and the supplied name belongs to the overseas company
in subject’s group registered in British Virgin Islands.
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Registered Name: |
Rosemary Fashion Ltd |
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Registered Address: |
5/F No. 3, Lane 137, Chang Chun Road, 104 Taipei, Taiwan |
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Date of Foundation: |
1992-11-20 |
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Registration Number: |
84100094 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 5,000,000 (USD
162,749) (As of 2014.3, 1 NTD = 0.0326 USD) |
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Legal Representatives: |
Ruirong He |
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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: |
Notes: Subject declined to disclose its staff number; from other source we
cannot obtain the relevant information, either.
Subject was incorporated on 1992-11-20 with
registered number 84100094 as Private Limited Company in Taiwan.
|
Name |
Subscription Amount |
|
Ruirong He |
2,500,000 |
The information above is that of subject’s major shareholders.
Related Companies
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1 |
|
|
Name |
High Source Textile Ltd (Shanghai
Branch) |
|
Address |
No. 2633 Yanan West Road, Shanghai Miramar Business Center C302, China
|
|
Legal Form |
Sole Proprietorship Company |
|
Telephone Number |
+86-21-62788777 |
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Fax Number |
+86-21-62702059 |
|
1992 |
|
|
The fabric, cotton/polyester dyeing, yarn dyed, printing, the
functional fabrics, burn flowers; all kinds of knitting |
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|
2 |
|
|
Name |
High Source Textile Ltd (Hongkong Branch) |
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Date of Foundation |
1990 |
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Business Scope |
100% rayon crepon piece dye and print |
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3 |
|
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Address |
|
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Telephone Number |
+886-2-25233480 |
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Fax Number |
+886-2-22196921 |
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Date of Foundation |
|
|
Business Scope |
Export 100% cotton fabric and 100% cotton yarn-dye fabric of Taiwan |
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4 |
|
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Name |
|
|
Address |
British Virgin Islands |
Core Management
Directors
|
1 |
|
|
Name |
Ruirong He |
|
Position |
Director |
Offices & Factories
|
|
Headquarters |
|
Add |
Operation Information
Subject is engaged in daily administrative work and
files handling service for its group but does not take orders.
It is introduced that subject’s group participates in the joint venture
restructuring of Yixing yarn-dye factory.
It is introduced that selling territory of subject’s group Europe and
America, etc.
It is introduced that major customers of subject’s group
are manufacturers of garments, shoes, bags and etc.
It is introduced that subject’s group cooperated
with “H&M”, “Calvin Klein” and etc.
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Processing, manufacture and sales of all kinds of fabric, accessories,
bags, footwear, etc |
|
-- |
Buying and selling all kinds of sports equipment, stationery, flowers,
beverage, food groceries and hardware, etc |
|
-- |
Import and export trading business of the above mentioned items |
|
-- |
Bidding service and marketing of the relevant products for domestic
and overseas market |
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 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 its bank details; from other source we can
not obtain the relevant information, either.
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 |
Operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
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 |
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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 |
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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.