|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUNRI CO., LTD. |
|
|
|
|
Registered Office : |
1F., No.156, Sinming Rd., Neihu District, Taipei
City 114, Taiwan (R.O.C.) |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
15.12.1988 |
|
|
|
|
Com. Reg. No.: |
23140849 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of furniture and home decorations |
|
|
|
|
No. of Employees |
About 10 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.156, Sinming
Rd., Neihu District, Taipei City 114, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as
above.
|
Registered Name: |
SUNRI CO., LTD. |
|
Registered Address: |
1F., No.156, Sinming Rd., Neihu District,
Taipei City 114, Taiwan (R.O.C.) |
|
Date of Foundation: |
1988-12-15 |
|
Registration Number: |
23140849 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
(As of 2014.05, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Minhua Wang |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1988-12-15 with registered number 23140849
as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Minhua Wang |
10,000,000 |
The information above is that of subject’s major shareholders.
Related Companies
|
Name |
Sunri Lifestyle Pvt. Ltd. |
|
Address |
No.196, Nandidurga Road, Jayamahal Extn., Bangalore 560 046, India |
|
Telephone Number |
+91-80-2333-1460 |
|
Fax Number |
+91-80-2333-1016 |
Mainland China Show Room
|
Address |
3/F., No.1197, Wuzhong Road, Minhang District, Shanghai City, China |
|
Telephone Number |
+86-21-6487-2683 |
Core Management
|
Name |
Minhua Wang |
|
Position |
Director |
Personnel Structure
|
Total Employees |
About 10 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.156, Sinming Rd., Neihu District, Taipei City 114, Taiwan (R.O.C.) |
Production
Information
Subject is a trader of furniture
and home decorations, etc without any production activities.
Purchase
Information
The registered activities of subject:
|
1 |
Processing, manufacture and
sales of furniture, wood ware, Ceramic
Products, handicraft works, all sorts of Home Decoration products and
relevant materials |
|
2 |
Processing, manufacture and sales of nylon,
cotton, woollen knitwear,
carpet, etc |
|
3 |
|
|
4 |
Import and export of all the above mentioned items |
|
5 |
General import and export trading business except futures or
business not banned or restricted |
Subject purchases products mainly from abroad and we obtained some
detail information as follows for reference.
|
Product |
Origin Area |
|
Antique Furniture |
UK |
|
Bone China Tablewares and other accessories |
Italy, Spain and other European countries |
|
Furniture |
India |
Subject is engaged in sale of furniture and home decorations, etc.
The major products sold by subject include Furniture, tableware and home
textile, etc.
Subject’s sales regions are Taiwan and Mainland China, etc.
Subject’s major customers are dealers, enterprises and individuals, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Subject has little domestic purchase.
Foreign Purchase
|
Terms |
Proportion |
|
|
Furniture, etc |
T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Furniture, etc |
T/T, Cash, 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 Ms. Que declined to disclose
its financials citing the grounds of company’s confidentiality; from other
source we can not obtain the relevant information, either.
|
Name: |
Bank of Taiwan |
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. Que |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.48 |
|
UK Pound |
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.80 |
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.