|
Report Date : |
20.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
IKASH CO., LTD. |
|
|
|
|
Registered Office : |
1F., No.7, Ln. 94, Shude Rd., Taiping Dist.,
Taichung City 411 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
31.12.2007 |
|
|
|
|
Com. Reg. No.: |
28905885 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in trading of chemicals which are applied in the industries of cosmetic and pharmaceutical |
|
|
|
|
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 |
|
|
|
|
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 |
|
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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
Room C, 13/F.,
No.292 Renhe Road, South District, Taichung City, Taiwan |
|
Supplied Address: |
Room No C, 13F,
No 292 Renhe Road South Dist Taichung City 402 |
|
Telephone Number: |
+886-4-2280-8685 |
|
E-mail: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated
on 2007-12-31 with registered number 28905885 as Private Limited Liability
Company in Taiwan.
|
Name |
Subscription Amount |
|
Cuihua Yan |
2,700,000 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Registered Name: |
Huge Bio-Technology Corporation, Ltd. |
|
Registered Address: |
No.20, Lane 51, Cheng Kung Rd., Ta-Li District, Taichung City, Taiwan |
|
Date of Foundation: |
2010-12-15 |
|
Registration Number: |
53277899 |
|
2 |
|
|
Registered Name: |
Lelon Electronics Corp. |
|
Registered Address: |
No.20, Lane 51, Cheng Kung Rd., Ta-Li District, Taichung City, Taiwan |
|
Date of Foundation: |
1976-2-12 |
|
Registration Number: |
52358985 |
Core Management
Directors
|
Name |
Cuihua Yan |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 5
Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Room C, 13/F., No.292 Renhe Road, South
District, Taichung City, Taiwan |
Production
Information
l
Subject is a trader of chemicals
without any production activities.
l
It is introduced that subject has related
factories in Taichung City, Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F107200 |
Wholesale of chemical materials |
|
F107990 |
Wholesale of other chemical products |
|
F113030 |
Wholesale of precise instrument |
|
F213040 |
Retail of precise instrument |
|
F401010 |
International trade business |
|
I199990 |
Other consultancy service |
|
IC01010 |
Drug test |
|
IZ99990 |
Other industry and commerce service |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
Subject purchases products mainly from
its related factories in Taiwan.
l
Subject is engaged in sale of chemicals
l
The chemicals sold by subject are applied
in the industries of cosmetic and pharmaceutical
l
Subject’s sales regions include
domestic market, Southeast Asia, Europe and America
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Chemicals,
etc |
Interior
Settlement, T/T, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Chemicals,
etc |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Chemicals,
etc |
T/T
(50% prepaid), 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. Lin 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. Lin |
|
Department |
Sales Department |
|
E-mail |
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
: |
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.