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Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
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Name : |
PING TAI ENTERPRISE CO., LTD. |
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Registered Office : |
12F-2, No.7, Chung Hwa 3rd Road,
Kaohsiung Taiwan R.O.C. |
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Country : |
Taiwan |
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Date of Incorporation : |
21.10.1974 |
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Com. Reg. No.: |
91743261 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of feedstuff |
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No. of Employees |
About 10 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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.
|
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: |
+886-7-215-2767 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1974-10-21 with registered number 91743261
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Yuting Wu |
1,400,000 |
|
Zhifeng Wu |
|
|
750,000 |
|
|
Jingyi Wu |
700,000 |
|
Jizhu Chen |
750,000 |
The information above is that of subject’s major shareholders.
Subject did not introduce whether it has any subsidiaries or branches;
from other source we cannot obtain the relevant information, either.
Core Management
Directors
|
1 |
|
|
Name |
Yuting Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zhifeng Wu |
|
Position |
Director |
|
3 |
|
|
Name |
Jingyi Wu |
|
Position |
Director |
|
4 |
|
|
Name |
Jizhu Chen |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 10 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject is a trader of feedstuff, etc without any production activities.
Purchase
Information
The registered activities of subject:
|
1 |
Trading and processing of all kinds of aquatic product |
|
2 |
Import and export of agricultural products and animal products |
|
3 |
Import and export of wood and building materials |
|
4 |
Ocean, coastal fishing business and sales of fodder, foodstuff |
|
5 |
Import and export of fish meal |
|
6 |
Import and export of nutrition subsidy and complementary feed |
|
7 |
General import and export business (besides licensed business) |
Subject purchases products from both home and abroad such as Taiwan, Mexico
and other Asian countries, etc.
One of subject’s major foreign suppliers is Alimentos Marinos Y
Agropecuarios, S.A.
Subject is engaged in sale of feedstuff,
etc.
The major products sold by subject include sardine fishmeal and feed
additive, etc.
Subject’s sales regions include domestic market, other Asian countries,
Europe and America, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Feedstuff, etc |
T/T, Cash, etc |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Feedstuff, etc |
L/C, T/T, etc |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Feedstuff, etc |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Feedstuff, 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 Mr. Wu 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 |
Mr. Wu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.57 |
|
UK Pound |
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SDA |
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 |
-- |
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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.