|
Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DA-SONG
ENTERPRISE CO., LTD. |
|
|
|
|
Registered Office : |
No.9, Jingke 2nd Rd., Nantun Dist., Taichung
City 40852, Taiwan (R.O.C.) |
|
|
|
|
Country : |
Taiwan |
|
|
|
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Date of Incorporation : |
25.02.1994 |
|
|
|
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Com. Reg. No.: |
84696355 |
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|
|
|
Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Manufacturing and sale of stainless steel |
|
|
|
|
No. of Employees |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
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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: |
Da-Song Enterprise Co., Ltd. |
|
Supplied Name: |
Da Song Enterprise Co. Ltd. |
|
Trading Address: |
No.9, Jingke 2nd Rd., Nantun Dist., Taichung City 40852, Taiwan
(R.O.C.) |
|
Supplied Address: |
No 9, jingke 2nd Road, Nantun District, Taichung City 40852 |
|
Telephone Number: |
+886-4-2358-1013 |
|
Fax Number: |
+886-4-2358-1003 |
Notes: The Exact name and address are as above.
Subject was incorporated on 1994-2-25 with
registered number 84696355 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Qingbiao Li |
100,000 |
| Wangzhuyu Li |
3,000 |
|
Zhijian Li |
30,000 |
|
Nvling Lin |
20,000 |
The information above is that of subject’s major shareholders.
Factories
|
1 |
|
|
Address: |
No. 37, 32 Rd.,
Industrial Zone, Baoshan Li, Nantun Dist., Taichung City, Taiwan |
|
Date of Foundation: |
1995-11-15 |
|
Date of Registration: |
1996-1-29 |
|
Factory Registration Number: |
99669251 |
|
Factory Manager: |
Qingbiao Li |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2005-12-12 |
|
Major Products: |
291 Metal processing machinery equipment 293 General mechanical equipment |
|
2 |
|
|
Name: |
Da-Song Enterprise Co., Ltd. Jingke Factory |
|
Address: |
No. 9, Jingke
Second Rd., Wenshan Li, Nantun Dist., Taichung City, Taiwan |
|
Date of Registration: |
2013-4-1 |
|
Factory Registration Number: |
66001727 |
|
Factory Manager: |
Qingbiao Li |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-4-1 |
|
Major Products: |
254 Metal
treatment |
Core Management
Directors
|
1 |
|
|
Name |
Qingbiao Li |
|
Position |
Chairman of the
Board |
|
2 |
|
|
Name |
Wangzhuyu Li |
|
Position |
Director |
|
3 |
|
|
Name |
Zhijian Li |
|
Position |
Director |
|
4 |
|
|
Name |
Nvling Lin |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 100 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.9, Jingke 2nd Rd., Nantun Dist., Taichung City 40852, Taiwan
(R.O.C.) |
l
Subject is engaged in manufacturing of stainless steel, etc.
l
Subject has factories in Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Machinery and equipment manufacturing |
|
CA01050 |
Steel secondary processing industry |
|
CA02010 |
Metal structure and construction components
manufacturing |
|
CA02990 |
Other metal products manufacturing |
|
F401010 |
The international trade |
|
F111090 |
Building materials wholesale |
|
F113010 |
Machinery wholesale |
|
F113030 |
Precision instruments wholesaling |
|
F106010 |
Hardware wholesale |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The raw materials for production are mostly
purchased in Taiwan local market.
l Subject is engaged
in sale of stainless steel, etc.
l
The major products sold by subject include
stainless steel sheet, coil steel, steel bar and so on.
l
Subject’s sales regions include domestic market,
Japan, Korea, Singapore, India, Southeast Asia, US, North America, Europe, etc.
l
It is introduced that at present subject’s mainly
exporting products are coil steel and steel bar.
l
The general delivery lead time of subject is about
30 days.
l
Subject’s major customers are manufacturers of
steel products, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials,
etc. |
T/T, Cash, etc |
100% |
Foreign Purchase
Subject has little
import.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Stainless steel, etc. |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Stainless steel, 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 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 |
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. Shen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.72 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.