|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
LIN-SEATEX
TRADING CORP. |
|
|
|
|
Registered Office : |
3F, No.17, Lane
360, Sec.1, Neihu Rd., Taipei 114 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
30.08.1983 |
|
|
|
|
Com. Reg. No.: |
20991465 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Engaged in sale of food raw materials including sweet flavor, wine flavor, spice oil and fermentation media |
|
|
|
|
No of Employees : |
About 30 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: |
3F, No.17, Lane 360, Sec.1, Neihu Rd., Taipei 114, Taiwan, R.O.C. |
|
Supplied
Address: |
|
|
Telephone
Number: |
+886-2-8797-6989 |
|
Fax Number: |
|
|
E-mail: |
Notes:
The exact name and address are as
above.
|
Credit Opinion: |
Subject was incorporated on 1983-8-30 with registered number 20991465 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Chaosong Lin |
8,400 |
|
Biqiu Li |
|
|
7,000 |
|
|
Yuyou Lin |
2,800 |
|
Dajun Lin |
8,400 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name: |
L.
Seatex Co., Ltd. |
|
Address: |
6F.
No.137, Chung Yuan St. Taipei |
|
Date
of Foundation: |
1979-12-10 |
|
Registration
Number: |
31118948 |
|
Registry: |
Taipei
City Government |
|
Registered
Capital: |
NTD 15,000,000
(USD 510,000) (As
of 2014.05, 1 NTD = 0.0340 USD) |
|
Legal
Representatives: |
Chaosong
Lin |
|
Legal
Form: |
Private
Limited Liabilities Company |
|
2 |
|
|
Name: |
Feng
You Trading (Shanghai) Co., Ltd. (Literal Translation) |
|
Address: |
Room
501, Bldg 9, No.115, Ally 1276, Nanle Road, Songjiang District, Shanghai
City, China |
|
Tel: |
+86-21-6775-5118 |
|
Fax: |
+86-21-6775-5353 |
|
Date
of Foundation: |
2009-12-4 |
|
Registration
Number: |
310000400610452 |
|
Registry: |
Shanghai
Industry and Commerce Bureau, Songjiang Suboffice |
|
Registered
Capital: |
USD
160,000 |
|
Legal
Representatives: |
Yuyou Lin |
Note: It is introduced that subject has
a related factory in Ruifang Industrial Area, Taipei for production.
Core Management
|
1 |
|
|
Name |
Chaosong Lin |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Biqiu Li |
|
Position |
Director |
|
3 |
|
|
Name |
Yuyou Lin |
|
Position |
Director |
|
4 |
|
|
Name |
Dajun Lin |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 30 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
3F, No.17, Lane 360,
Sec.1, Neihu Rd., Taipei 114, Taiwan, R.O.C. |
Production
Information
l
Subject is a trader of
food raw materials without any
production activities.
l
It is introduced that
subject has a related factory in Ruifang Industrial Area, Taipei for
production.
Purchase
Information
l
The registered
activities of subject:
|
1 |
General import and export business (besides licensed business) |
|
2 |
As an agent assists in developing quoting, bidding and distributing
about home and abroad companies’ products |
l
Subject purchases
products from both home and abroad such as Taiwan, Mainland China, India and
other Asian countries, etc.
l
Subject is engaged in
sale of food raw materials
l
The major products
sold by subject include sweet flavor, wine flavor, spice oil and fermentation
media
l
Subject’s sales
regions include Taiwan, Mainland China and Southeast Asia, etc.
l
Subject’s major
customers are food manufacturers, beverage manufacturers, restaurants and
stores, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Food raw
materials, etc |
Interior Settlement, T/T,
etc |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Food raw materials,
etc |
L/C, T/T, etc |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Food raw
materials, etc |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Food raw
materials, 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. Lin 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. Lin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.08 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.80.53 |
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.