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Report Date : |
20.05.2014 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN HOWARD
FOODS TRADING CO., LTD. |
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Formerly Known as : |
Gold Howard Foods Trading Co.,
Ltd. |
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Registered Office : |
1F., No.66, Tung Kuang Yuan Rd., Tung Area,
Taichung City |
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Country : |
Taiwan |
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Date of Incorporation : |
05.01.2001 |
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Com. Reg. No.: |
12732780 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
·
Engaged in
manufacturing and sale of condiment including barbeque sauce,
béchamel, concentrated stock and seasoning powder bearing the brand name “Golden Howard”. Wholesaler of grocery Wholesaler of edible fat and
oil |
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|
No of Employees : |
About 100 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – 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.
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Source : CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.66, Tung Kuang
Yuan Rd., Tung Area, Taichung City, Taiwan, R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-4-2280-0018 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
Subject was
incorporated on 2001-1-5 with registered number 12732780 as Private Limited
Liability Company in Taiwan.
Change of Name
|
Former English Name |
Gold Howard Foods Trading Co., Ltd. |
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Current English Name |
Golden Howard Foods Trading Co., Ltd. |
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Name |
Subscription Amount |
|
Yilian Yang |
36,000,000 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No.60, Baochang Road, Baochang Li, Douliu City, Yunlin
County, Taiwan |
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Date of Registration: |
2004-12-30 |
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Factory Registration Number: |
99654610 |
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Factory Manager: |
Yilian Yang |
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Status: |
In Production |
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Date of Last Annual Return: |
2004-12-30 |
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Major Products: |
089 other food |
Taipei Office
|
Address: |
1F., No.233, North Chong Qing Rd., 3
sections, Taipei City, Taiwan, R.O.C. |
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Telephone Number: |
+886-2-2597-7179 |
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Fax Number: |
+886-2-2597-7413 |
Core Management
|
Yilian Yang |
|
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About100 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.66, Tung Kuang Yuan Rd., Tung Area,
Taichung City, Taiwan, R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of condiment
l
Subject has a factory in Yunlin County,
Taiwan for production.
l
It is introduced that subject can provide
OEM service
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F102170 |
Wholesale of grocery |
|
F102020 |
Wholesale of edible fat and oil |
|
F102040 |
Wholesale of beverage |
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F203010 |
Retail of grocery and beverage |
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C103050 |
Manufacturing of can, frozen, dehydrated
and pickled food |
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C109010 |
Manufacturing of condiment |
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C110010 |
Manufacturing of beverage |
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C104010 |
Manufacturing of candy |
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C104020 |
Manufacturing of baked and steamed food |
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C199010 |
Manufacturing of noodle and vermicelli |
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C111010 |
Manufacturing of tea |
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F401010 |
International trade business |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The raw materials for condiment production are mostly
purchased in domestic market.
l
Some facilities for production are purchased
from USA and Germany; the detail information is as follows for reference:
|
Product |
Brand |
Origin |
|
Vacuum Reaction Equipment |
Northland |
USA |
|
Packaging Machine |
Romaco |
Germany |
l
Subject is engaged in sale of condiment
l
The major products sold by subject
include barbeque sauce, béchamel, concentrated stock and seasoning powder
l
Subject’s sales regions include Taiwan,
Hong Kong, Mainland China and other Asian countries, etc.
l
Subject has its own brand “Golden Howard”.
l
Subject’s major types of customers are
supermarkets, hotpot restaurant and stores, etc.
l
Subject’s major customers are Pxmart,
Jasons Market and Citysuper, 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
|
Terms |
Proportion |
|
|
Facilities,
etc |
L/C,
T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Condiment, etc |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Condiment, 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. Cheng 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
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
095293 |
|
Debtor Name: |
Golden Howard Foods Trading Co.,
Ltd. |
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Document Number: |
09705140240 |
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Date of Registration: |
2008-8-13 |
|
Date of Alteration: |
2008-12-17 |
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Status: |
Paid off |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Cheng |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.43 |
|
UK Pound |
1 |
Rs.98.28 |
|
Euro |
1 |
Rs.80.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.