|
Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
BEST BAGS INDUSTRIAL COMPANY |
|
|
|
|
Registered Office : |
5F., No.100, Mincyuan Rd., Xindian Dist.,
New Taipei City 231, Taiwan (R.O.C.) |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
19.05.1978 |
|
|
|
|
Com. Reg. No.: |
36529863 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading of packaging material, food and
beverage. |
|
|
|
|
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 |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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: |
Best Bags Industrial Company |
|
Supplied Name: |
|
|
Trading Address: |
5F., No.100, Mincyuan Rd., Xindian Dist.,
New Taipei City 231, Taiwan (R.O.C.) |
|
Supplied Address: |
SF No 100, Min Cyuan Road, Sindian City,
Taipei Country 23141 |
|
Telephone Number: |
+886-2-2218-5245 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact
name and address are as above.
Note: Subject
declined to disclose its staff number; from other source we cannot obtain the
relevant information, either.
Subject was incorporated on 1978-5-19
with registered number 36529863
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Qianghua Yang |
2,000,000 |
|
Yaohong Liao |
|
|
768,000 |
|
|
Wenjun Liao |
232,000 |
The information above is that of subject’s major shareholders.
Related Company
|
Name |
Greenrich
Agricultural Inc. |
|
Address |
5F., No.100, Mincyuan Rd., Xindian Dist., New Taipei City 231, Taiwan
(R.O.C.) |
|
Date of
Foundation: |
2013-4-18 |
|
Registration
Number: |
54053355 |
|
Registry: |
New Taipei City Government |
|
Registered
Capital: |
NTD 3,000,000 (USD 102,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 3,000,000 (USD 102,000) |
|
Legal
Representatives: |
Yingjie Liao |
|
Legal Form: |
Joint Stock Company |
Core Management
Directors
|
1 |
|
|
Name |
Qianghua Yang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yaohong Liao |
|
Position |
Director |
|
3 |
|
|
Name |
Ruiling Zheng |
|
Position |
Director |
|
4 |
|
|
Name |
Wenjun Liao |
|
Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Add |
5F., No.100, Mincyuan Rd., Xindian Dist., New Taipei City 231, Taiwan
(R.O.C.) |
Production
Information
l
Subject is a trader of packaging material, food and beverage, etc
without any production activities.
l
It is introduced that subject has a cooperative
factory in Mainland China for packaging materials production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
A102060 |
Grain industry |
|
C701010 |
Printing industry |
|
CM01010 |
Manufacturing of suitcase, box and bag |
|
F101040 |
Wholesale of livestock and fowl |
|
F101050 |
Wholesale of aquatic products |
|
F101130 |
Wholesale of vegetable and fruit |
|
F102020 |
Wholesale of edible fat and oil |
|
F102030 |
Wholesale of alcohol and tobacco |
|
F102040 |
Wholesale of beverage |
|
F102050 |
Wholesale of tea |
|
F102170 |
Wholesale of grocery |
|
F104110 |
Wholesale of textile, garment, shoes, umbrella
and accessories |
|
F105050 |
Wholesale of furniture, bedding, kitchen utensil
and decorations |
|
F106010 |
Wholesale of hardware |
|
F106020 |
Wholesale of daily supplies |
|
F106040 |
Wholesale of water equipment |
|
F106050 |
Wholesale of glass-ceramic ware |
|
F106060 |
Wholesale of pet products |
|
F106070 |
Wholesale of ritual supplies |
|
F107030 |
Wholesale of cleaning supplies |
|
F107190 |
Wholesale of plastic film and bag |
|
F107200 |
Wholesale of chemical materials |
|
F108040 |
Wholesale of cosmetic |
|
F109070 |
Wholesale of stationery, musical instrument and
recreational supplies |
|
F110010 |
Wholesale of clock |
|
F110020 |
Wholesale of glasses |
|
F111090 |
Wholesale of building materials |
|
F112010 |
Wholesale of gasoline and diesel |
|
F112030 |
Wholesale of charcoal |
|
F113010 |
Wholesale of machinery |
|
F113020 |
Wholesale of electric appliance |
|
F113030 |
Wholesale of precise instrument |
|
F113050 |
Wholesale of computer and office equipment |
|
F113060 |
Wholesale of measuring instruments |
|
F113090 |
Wholesale of traffic signs equipment |
|
F113100 |
Wholesale of pollution-prevention equipment |
|
F113990 |
Wholesale of other mechanical appliance |
|
F114020 |
Wholesale of haulage motor |
|
F114030 |
Wholesale of automobile and motor components |
|
F114040 |
Wholesale of bicycle and components |
|
F114050 |
Wholesale of tyre |
|
F115010 |
Wholesale of jewellery and precious metal |
|
F115020 |
Wholesale of mineral |
|
F116010 |
Wholesale of photographic apparatus |
|
F117010 |
Wholesale of fire-fighting equipment |
|
F118010 |
Wholesale of software |
|
F119010 |
Wholesale of electronic materials |
|
F199990 |
Wholesale of other products |
|
F201010 |
Retail of agricultural products |
|
F201020 |
Retail of animal products |
|
F201030 |
Retail of aquatic product |
|
F201050 |
Retail of fishing gear |
|
F203010 |
Retail of grocery and beverage |
|
F203020 |
Retail of alcohol and tobacco |
|
F204110 |
Retail of textile, garment, shoes, umbrella and
accessories |
|
F205040 |
Retail of furniture, bedding, kitchen utensil and
decorations |
|
F206010 |
Retail of hardware |
|
F206020 |
Retail of daily supplies |
|
F206040 |
Retail of water equipment |
|
F206050 |
Retail of pet products |
|
F206060 |
Retail of ritual supplies |
|
F207030 |
Retail of cleaning supplies |
|
F207190 |
Retail of plastic film and bag |
|
F207200 |
Retail of chemical materials |
|
F208040 |
Retail of cosmetic |
|
F209060 |
Retail of stationery, musical instrument and
recreational supplies |
|
F210010 |
Retail of clock |
|
F210020 |
Retail of glasses |
|
F211010 |
Retail of building materials |
|
F213010 |
Retail of electric appliance |
|
F213030 |
Retail of computer and office equipment |
|
F213040 |
Retail of precise instrument |
|
F213050 |
Retail of measuring instruments |
|
F213080 |
Retail of mechanical appliance |
|
F213990 |
Retail of other mechanical appliance |
|
F215010 |
Retail of jewellery and precious metal |
|
F215020 |
Retail of mineral |
|
F219010 |
Retail of electronic materials |
|
F299990 |
Other retail business |
|
F399990 |
Other comprehensive retails |
|
F401010 |
International trade business |
|
I102010 |
Investment consultant |
|
I103060 |
Manage consultant |
|
I301010 |
Software service |
|
I301020 |
Data processing service |
|
I401010 |
Advertisement service |
|
I501010 |
Product design |
|
JE01010 |
Leasing business |
|
JZ99050 |
Intermediary services |
l
It is introduced that subject purchases
packaging materials mainly from
Mainland China.
l
Some fruit is imported from other Asian
countries.
l Subject
is engaged in sale of packaging
material, food and beverage, etc.
l
The major packaging materials sold by subject include soft bags, tote bags,
duffel bags, backpacks, briefcase, sporting bags, cooler bags and so on.
l
Subject’s sales regions include Asia,
Europe and America, etc.
l
One of subject’s major customers is
Ferco Products Inc.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Packaging material, food and beverage, etc |
T/T, Cash, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Food and beverage, etc |
L/C,
T/T, etc |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Packaging material, food and beverage, etc |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Packaging material, food and beverage, etc |
L/C, T/T, etc |
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 Ms. Liu 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. Liu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.04 |
|
|
1 |
Rs.101.31 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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.