|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRIME SOLUTIONS CO., LTD. |
|
|
|
|
Registered Office : |
7F., No.1, Fusing 4th Road, Cianjhen
District, Kaohsiung, Taiwan |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
18.11.2008 |
|
|
|
|
Com. Reg. No.: |
29007615 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of electrical and
electronic products |
|
|
|
|
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 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 |
|
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 |
|
Company Name: |
Prime Solutions Co., Ltd. |
|
Supplied Name: |
Prime Solutions Co Ltd |
|
Trading Address: |
7F., No.1, Fusing 4th Road, Cianjhen
District, Kaohsiung, Taiwan |
|
Supplied Address: |
No 1, Fusing 4th Road, Cianjhen District
Kaohsiung |
|
Telephone Number: |
+886-7-5379885 |
|
Fax Number: |
+886-7-5365893 |
Notes: The exact name and
address are as above.
Notes: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant
information, either.
Subject was incorporated
on 2008-11-18 with registered number 29007615
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Weizhi Chen |
420,000 |
|
Zhaoxia Luchen |
285,000 |
|
Qingnan Chen |
285,000 |
|
Weilang Chen |
135,000 |
The information above is that of subject’s major shareholders.
It introduced that subject has offices in Taipei, Taiwan; Maryland, USA;
Wu Han, the mainland of China; Bangalore, India and etc but the subject
declined to disclose the details for us, and we cannot obtain any relevant
information from any valid sources, either.
Core Management
Directors
|
1 |
|
|
Name |
Weizhi Chen |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zhaoxia Luchen |
|
Position |
Director |
|
3 |
|
|
Name |
Qingnan Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Weilang Chen |
|
Position |
Supervisor |
Offices &
Factories
|
|
Headquarters |
|
Add |
7F., No.1, Fusing 4th Road, Cianjhen District, Kaohsiung, Taiwan |
Production
Information
Subject is a manufacturer of electrical and electronic products, etc
It is introduced that subject has a factory in
Taiwan for production.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
F109070 |
Wholesales of products for culture and education, musical instrument
and entertainment |
|
F113050 |
Wholesales of computer and office equipment. |
|
F118010 |
Wholesales of information software. |
|
F119010 |
Wholesales of electronic materials. |
|
F401010 |
International trading business. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
|
I301010 |
Services of information software. |
|
I301020 |
Services about data processing. |
|
I301030 |
Supplying services for electronic information. |
|
I501010 |
Designing for products. |
|
IF02010 |
Testing current-using equipment. |
|
IG03010 |
Supplying services for energy technology. |
|
IZ09010 |
Verification of management system. |
|
F106010 |
Wholesales of hardware. |
|
F107020 |
Wholesales of dyes and pigment. |
|
F111090 |
Wholesales of construction materials. |
|
F112040 |
Wholesales of petroleum product. |
|
F113020 |
Wholesales of electrical appliances. |
|
F113030 |
Wholesales of precision instrument. |
|
F113070 |
Wholesales of telecommunication equipment. |
|
F113090 |
Wholesales of traffic signs equipment. |
|
F114070 |
Wholesales of aircraft and components. |
|
E601010 |
Contracting of electrical appliances. |
|
E601020 |
Installing of electrical appliances |
|
E603090 |
Installing project of lighting equipment. |
|
E604010 |
Installing of machinery. |
|
E605010 |
Installing of computer equipment. |
|
E701020 |
Installing of satellite television in channel KU and channel C. |
|
JE01010 |
Renting industry. |
|
JZ99050 |
Intermediary services. |
|
G202010 |
Operation of parking lot. |
The components and raw material for production are mostly purchased both
at home and abroad.
The subject is mainly engaged in sales of electrical and electronic products, etc
It is introduced that subject’s selling
territory is in Asia, America, Europe and etc.
It is introduced that subject’s products are
applied to the factories, infrastructures, parking lot and etc.
Major Products
|
Types |
Product |
|
Public Safty |
System integration DSP（Digital Signal Processor） |
|
Green Energy |
Solar block LED streetlights |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components and
raw materials, etc |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Components and
raw materials, etc |
CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Electrical and electronic products, etc |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Electrical and electronic products, etc |
COD, CBD and 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 its bank details; from
other source we cannot obtain the relevant information, either.
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 |
|
E-mail |
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
: |
DIV |
|
|
|
|
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 |
-- |
|
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.