|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
BALUM E-MATERIAL
LTD |
|
|
|
|
Formerly Known as : |
Bor Horng Art Material Co., Ltd. |
|
|
|
|
Registered Office : |
No.4, Lane 64, Sec. 2, Chung Hsiao E. Rd., Jhongjheng
District, Taipei City 100 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
02.02.1998 |
|
|
|
|
Com. Reg. No.: |
16302190 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
· engaged in sale of art materials and equipment including matboard, moulding, hardware & drawing machine ·
Engaged
in sales of art paper · Engaged in exhibition and sale of antique painting, photography works · Engaged in sales of picture framing materials · Engaged in manufacturing of other woodware (photo frame) |
|
|
|
|
No of Employees : |
About 10 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: |
No.4, Lane 64, Sec. 2, Chung Hsiao E. Rd.,
Jhongjheng District, Taipei City 100, Taiwan (R.O.C.) |
|
Supplied Address: |
1F, No.4, Ln 64, Sec 2, Zhongxiao E Rd,
Zhongzheng Dist., Taipei City 100, |
|
Telephone Number: |
+886-2-2396-4725 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1998-2-2 with registered number 16302190 as Private Limited
Liability Company in Taiwan.
Change of Name
|
Former
Chinese Name |
百鴻藝術有限公司 |
|
Current
Chinese Name |
百鴻數位藝術有限公司 |
|
Former
English Name |
Bor
Horng Art Material Co., Ltd. |
|
Current
English Name |
Balum E-Material Ltd. |
|
Name |
Subscription Amount |
|
Su-Chin Chiu |
1,000,000 |
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
|
Suqin Qiu |
|
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 10 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.4, Lane 64, Sec. 2, Chung Hsiao E. Rd., Jhongjheng District, Taipei
City 100, Taiwan (R.O.C.) |
Production
Information
l
Subject is a trader of art
materials and equipment without any production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Sales of art paper |
|
-- |
Exhibition and sale of antique painting, photography works |
|
-- |
Sales of picture framing materials |
|
-- |
General import and export of above items |
|
C501990 |
Manufacturing of other woodware (photo frame) |
|
J601010 |
Art and literature exhibition industry |
|
IZ01010 |
Photoprint industry |
|
JZ99990 |
Other service (mount service) |
|
E605010 |
Computer equipment installation |
|
I301010 |
Software service |
l Subject
purchases products mainly from abroad such as Europe and America, etc.
l Subject
is the authorized distributor of One Tru Vue, Inc. (9400 West 55th
Street, McCook, Illinois 60525, U.S.A.) and the
authorized products are as follows for reference:
|
Glass |
Acrylic |
|
Museum Glass® |
Optium® Museum Display Acrylic™ |
|
Conservation Reflection Control® |
Optium Museum Acrylic® |
|
Conservation Clear® |
Optium Acrylic® |
|
AR Reflection-Free® |
Conservation Reflection Control® Acrylic |
|
UltraVue® |
Conservation Clear® Acrylic |
|
Reflection Control® |
Reflection Control® Acrylic |
|
Premium Clear |
Premium Clear Acrylic |
|
-- |
Staticshield™ |
l Subject is engaged in sale of art materials and equipment
l
The major products sold by subject include matboard, moulding,
hardware, drawing machine, and so on.
l
Subject’s sales regions include domestic market and other Asian
Countries
l
Subject’s major types of customers are design company,
advertisement company, photo company and personal workstation, etc.
l
Subject’s major domestic customers information as follows for
reference:
|
1 |
|
|
Name: |
Solomon &
Co. |
|
Address: |
3F-1, No.237,
Sec. 1, Fuxing S. Rd., Da-an Dist., Taipei City 106, Taiwan (R.O.C.) |
|
Tel: |
+886-2-2755-6058 |
|
2 |
|
|
Name: |
Yuan-Dian Arts
Ltd |
|
Address: |
2F., No.235,
Sec. 2, Bade Rd., Zhongshan Dist., Taipei City 104, Taiwan (R.O.C.) |
|
Tel: |
+886-2-8772-1960 |
|
3 |
|
|
Name: |
Pu-Li Design Ltd |
|
Address: |
3F., No.551,
Tanmei St., Neihu Dist., Taipei City 114, Taiwan (R.O.C.) |
|
Tel: |
+886-2-2796-0862 |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little domestic purchase.
Foreign Purchase
|
Terms |
Proportion |
|
|
Art materials, etc |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Art materials, etc |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Art 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. Liao declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
|
Name: |
Taichung Commercial Bank Co., Ltd. |
|
Account Number: |
092220007078 |
|
SWIFT Code: |
TCBBTWTH |
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. Liao |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.