|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
TASA MENG
CORPORATION |
|
|
|
|
Registered Office : |
3F-1, 2, 7, No.57, Fuhsing North Road,
Taipei City, Taiwan. R.O.C. |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
04.03.1982 |
|
|
|
|
Com. Reg. No.: |
12371287 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading of shoes, cosmetics,
watches and leather products |
|
|
|
|
No. of Employees |
1,200 |
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 |
|
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: |
Tasa Meng Corporation |
|
Supplied Name: |
TASA MENG CORPORATION |
|
Trading Address: |
3F-1, No.57, Fuhsing North Road, Taipei City, Taiwan. R.O.C. |
|
Supplied Address: |
3F-1 NO. 57 FU HSING NORTH ROAD TAIPEI TAIWAN |
|
Telephone Number: |
+886-2-2781-5999 |
|
Fax Number: |
+886-2-8773-5715 |
|
E-mail: |
|
|
Website: |
Notes: The exact
name and address are as above.
|
Registered Name: |
Tasa Meng Corporation |
|
Registered Address: |
3F-1, 2, 7, No.57, Fuhsing North Road, Taipei City, Taiwan. R.O.C. |
|
Date of Foundation: |
1982-3-4 |
|
Registration Number: |
12371287 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 2,600,000,000
(USD 88,400,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 2,600,000,000 (USD 88,400,000) |
|
Legal Representatives: |
Suqin Gu |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on 1982-3-4
with registered number 12371287
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Suqin Gu |
20,800,000 |
| Tian Shan Investment Co., Ltd. (Literal
Translation) |
23,400,000 |
|
Kunhong Cai |
72,800,000 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
Registered Name: |
Tian
Shan Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
3F-1, No.57, Fuhsing North Road, Taipei City,
Taiwan. R.O.C. |
|
Date of Foundation: |
1999-6-23 |
|
Registration Number: |
70375037 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 8,797,500 (USD
299,115) (As of 2014.01, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 8,797,500 (USD 299,115) |
|
Legal Representatives: |
Suqin Gu |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-12-10 |
Branch Companies
|
1 |
|
|
Name |
Nanqian
Visitor's Center Branch |
|
Address |
No.95-2, Renai
Village, Nanqian Township, Lianjiang County, Taiwan |
|
Registration
Number |
53671007 |
|
Date of
Registration |
2013-5-16 |
|
Status |
Live
Company |
|
Manager Name |
Suqin Gu |
|
Date of Last
Annual Return |
-- |
|
2 |
|
|
Name |
Taoyuan Airport
Shuhuo Beauty Branch |
|
Address |
4th
Floor, No.9, Hangzhan South Road, Dayuan Township, Taoyuan County, Taiwan |
|
Registration
Number |
53652254 |
|
Date of
Registration |
2012-6-21 |
|
Status |
Live
Company |
|
Manager Name |
Suqin Gu |
|
Date of Last
Annual Return |
-- |
|
3 |
|
|
Name |
Mazu 1st
Branch |
|
Address |
No.220, Fuxing
Village, Nangan Township, Lianjiang County, Taiwan |
|
Registration
Number |
28992993 |
|
Date of
Registration |
2010-3-25 |
|
Status |
Live
Company |
|
Manager Name |
Suqin Gu |
|
Date of Last
Annual Return |
-- |
|
4 |
|
|
Name |
Zhongshan 1st
Branch |
|
Address |
No.9, Lane 45,
Sec 2, Zhongshan North Road, Kangli Li, Zhongshan District, Taipei City,
Taiwan |
|
Registration
Number |
28982138 |
|
Date of Registration |
2009-8-6 |
|
Status |
Live
Company |
|
Manager Name |
Suqin Gu |
|
Date of Last
Annual Return |
-- |
|
5 |
|
|
Name |
Taoyuan Branch |
|
Address |
No.9, Hangzhan
South Road, Dayuan Township, Taoyuan County, Taiwan |
|
Registration
Number |
28205834 |
|
Date of
Registration |
2006-7-26 |
|
Status |
Live
Company |
|
Manager Name |
Suqin Gu |
|
Date of Last
Annual Return |
-- |
Core
Management
Directors
|
1 |
|
|
Name |
Suqin Gu |
|
Position |
Board Chairman |
|
Date of
Appointment |
1999-11-29 |
|
2 |
|
|
Name |
Xin Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Zhaolin Zhou |
|
Position |
Director |
|
4 |
|
|
Name |
Yuezhu Liu |
|
Position |
Director |
|
5 |
|
|
Name |
Kunhong Cai |
|
Position |
Director |
|
6 |
|
|
Name |
Ziqing Zhu |
|
Position |
Supervisor |
Personnel
Structure
|
Total
Employees |
About 1,200 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
3F-1, No.57, Fuhsing North Road, Taipei City, Taiwan. R.O.C. |
Production
Information
l
Subject operates as an agency for distributing shoes, cosmetics, watches and
leather products, etc without any production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C402030 |
Manufacturing of leather and fur |
|
F102020 |
Wholesale of edible fat and oil |
|
F102030 |
Wholesale of alcohol and tobacco |
|
F102040 |
Wholesale of beverage |
|
F102050 |
Wholesale of tea |
|
F102170 |
Wholesale of food and grocery |
|
F104110 |
Wholesale of textile, garment, shoes, hat,
umbrella, accessories |
|
F105050 |
Wholesale of furniture, bedding, kitchen utensil,
decorations |
|
F106050 |
Wholesale of glass-ceramic ware |
|
F108040 |
Wholesale of cosmetic |
|
F109070 |
Wholesale of stationery, musical instrument,
recreational supplies |
|
F110010 |
Wholesale of clock |
|
F113020 |
Wholesale of electric appliance |
|
F113050 |
Wholesale of computer and office equipment |
|
F113070 |
Wholesale of telecom equipment |
|
F115010 |
Wholesale of jeweler and precious metal |
|
F116010 |
Wholesale of photographic apparatus |
|
F118010 |
Wholesale of software |
|
F203010 |
Retail of food and grocery |
|
F203020 |
Retail of alcohol and tobacco |
|
F204110 |
Retail of textile, garment, shoes, hat, umbrella,
accessories |
|
F205040 |
Retail of furniture, bedding, kitchen utensil,
decorations |
|
F208040 |
Retail of cosmetic |
|
F209060 |
Retail of stationery, musical instrument,
recreational supplies |
|
F210010 |
Retail of clock |
|
F213010 |
Retail of electric appliance |
|
F213030 |
Retail of computer and office equipment |
|
F213060 |
Retail of telecom equipment |
|
F215010 |
Retail of jeweler and precious metal |
|
F216010 |
Retail of photographic apparatus |
|
F218010 |
Retail of software |
|
F301010 |
Department store |
|
F301020 |
Supermarket industry |
|
F399010 |
Convenience store |
|
F399990 |
Other comprehensive retails |
|
F401010 |
International trade business |
|
F401161 |
Import of tobacco |
|
F401171 |
Import of alcohol |
|
F501030 |
Beverage store |
|
F501060 |
Restaurant business |
|
G799990 |
Other supporting and auxiliary transport
activities |
|
G801010 |
Warehouse industry |
|
I103060 |
Management consultant |
|
I199990 |
Other consultancy |
|
I301010 |
Software service |
|
I301020 |
Data processing service |
|
I301030 |
Electronic information supply service |
|
I501010 |
Product design |
|
I503010 |
Landscape and interior design |
|
IZ99990 |
Other business service |
|
J303010 |
Magazine (periodical) publishing industry |
|
J304010 |
Book publishing industry |
|
F108021 |
Wholesale of western medicine |
|
F108031 |
Wholesale of medical equipment |
|
F208021 |
Retail of western medicine |
|
F208031 |
Retail of medical equipment |
|
F107030 |
Wholesale of cleaning supplies |
|
F107990 |
Wholesale of other chemical products |
|
F207030 |
Retail of cleaning supplies |
|
F207990 |
Retail of other chemical products |
|
C103050 |
Manufacturing of canned, frozen, dehydrated,
pickled food |
|
C306010 |
Garment industry |
|
C307010 |
Manufacturing of garment accessories |
|
C802100 |
Manufacturing of cosmetic |
|
CE01040 |
Manufacturing of clock |
|
CG01010 |
Manufacturing of jeweler and precious metal |
|
CM01010 |
Manufacturing of suitcase and bag |
|
F106020 |
Wholesale of daily supplies |
|
F199990 |
Wholesale of other products |
|
F201010 |
Retail of agricultural products |
|
F201020 |
Retail of animal products |
|
F201030 |
Retail of aquatic products |
|
F201050 |
Retail of fishing gear |
|
F201070 |
Retail of flower |
|
F201990 |
Retail of other agricultural, animal and aquatic
products |
|
F206020 |
Retail of daily supplies |
|
F208050 |
Retail of Class B patent medicine |
|
F299990 |
Retail of other products |
|
F501050 |
Hotel industry |
|
F101990 |
Wholesale of other agricultural, animal and
aquatic products |
|
H701050 |
Investment and construction of public buildings |
|
H703100 |
Leasing real estate |
|
I102010 |
Investment consultancy |
|
I401010 |
Advertisement service |
|
IE01010 |
Agent of telecom business |
|
J305010 |
Audio publishing industry |
|
J601010 |
Art and literature service |
|
JB01010 |
Convention and exhibition service |
|
JZ99080 |
Barbar and beauty services |
|
JZ99110 |
Slimming and beauty business |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l Subject purchases products mainly from abroad such as Japan, Italy,
France, Germany and USA, etc.
l Subject is engaged in sale of shoes, cosmetics,
watches and leather products, etc.
l It is introduced that subject has over 100 exclusive counters and shops
in department stores which spread in Taipei, Taichung, Tainan, Kaohsiung, Taoyuan
and Hsinchu City.
l It is introduced that subject also has two duty-free shops in Taiwan, one
is located in Taoyuan International Airport and another is located in Matsu
Nangan Airport.
l Subject’s sales region is mainly in Taiwan domestic market.
Major
Agent Products
|
Product |
Major Brand |
|
Leather Products |
Borsalini |
|
Watch |
COACH, Corum, Perrelet, Ferrari |
|
Footwear |
a.testoni |
|
Accessories |
Grosse |
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little domestic purchase.
Foreign Purchase
|
Terms |
Proportion |
|
|
Shoes, cosmetics, watches and leather products,
etc |
L/C,
T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Shoes, cosmetics, watches and leather products, etc |
Cash, T/T, etc |
100% |
Export
Subject has little
export.
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. Luo 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. Luo |
|
Department |
Marketing Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.57 |
|
|
1 |
Rs.98.87 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.