MIRA INFORM REPORT

Report Date :

26.11.2014

IDENTIFICATION DETAILS

Name :	AMBROSIA CO., LTD.

Registered Office :	7F, No.68, Sec.4, Cheng Kung Rd., Nei-Hu, Taipei

Country :	Taiwan

Date of Incorporation :	12.06.1993

Com. Reg. No.:	84492129

Legal Form :	Private Limited Liability Company

Line of Business :	Trading of Food and Beverage.

No. of Employees :	About 10 Employees

RATING & COMMENTS

MIRA’s Rating :

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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Taiwan

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 and address

Company Name:	Ambrosia Co., Ltd.
Supplied Name:	AMBROSIA CO LTD
Trading Address:	7F, No.68, Sec.4, Cheng Kung Rd., Nei-Hu, Taipei
Supplied Address:	7F, No 68 Sec 4 Cheng Kung Road Taipei
Telephone Number:	+886-2-2795-5303
Fax Number:	+886-2-2795-5295
E-mail:	sales@ambrosia.com.tw

Notes: The exact name and address are as above.

Company Identification Details

Registered Name:	Ambrosia Co., Ltd.
Registered Address:	7F, No.68, Sec.4, Cheng Kung Rd., Nei-Hu, Taipei
Date of Foundation:	1993-12-6
Registration Number:	84492129
Registry:	Taipei City Government
Registered Capital:	NTD 5,000,000 (USD 170,000) (As of 2014.11, 1 NTD = 0.0340 USD)
Legal Representatives:	Jianming Feng
Legal Form:	Private Limited Liability Company
Principal Activities:	Trading of food and beverage
Staff:	About 10 Employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	2014-11-3

History

Subject was incorporated on 1993-12-6 with registered number 84492129 as Private Limited Liability Company in Taiwan.

Corporate Structure

Subject did not introduce whether it has any subsidiaries or branches; from other source we could not obtain the relevant information, either.

Shareholder

Major Shareholder

(Unit: NTD)

Name

Subscription Amount

Jianming Feng

2,500,000

Management Information

Core Management

Name	Jianming Feng
Position	Director

Personnel Structure

Total Employees

About 10 Employees

Operation Information

	Headquarters
Add	7F, No.68, Sec.4, Cheng Kung Rd., Nei-Hu, Taipei

Production Information

· Subject is a trader of food and beverage, etc. without any production activities.

Purchase Information

· The registered activities of subject:

Business Code	Details
C103050	Manufacturing of canned, frozen, dehydrated, pickled food
C104010	Manufacturing of candy
C104020	Manufacturing of baked, steam food
C110010	Manufacturing of beverage
C802090	Manufacturing of cleaning supplies
F102040	Wholesale of beverage
F102170	Wholesale of grocery
F102180	Wholesale of alcohol
F106020	Wholesale of daily supplies
F107030	Wholesale of cleaning supplies
F203010	Retail of grocery and beverage
F203030	Retail of alcohol
F206020	Retail of daily supplies
F207030	Retail of cleaning supplies
F301010	Department store
F399040	No store retail
F401010	International trade business
F401171	Import of alcohol
F501030	Beverage store
ZZ99999	Besides licensed business, all other business items those are not banned or restricted.

· Subject purchases products mainly from abroad such as Germany, Italy, Spain, UK and Canada, etc.

Sales Information

· Subject is engaged in sale of food and beverage, etc.

Subject’s sales region is major in domestic market.

Subject’s major customers are department stores, supermarket chains, restaurants, and hotels, etc.

Subject’s major products are as follows for reference.

Product	Brand
Can	AYAM, Javimar
Spice	Carmencita
Condiment	Casa
Cream Sauce	Coombe
Beverage	Granini
Cod Liver	KingOscar
Jam	Tiptree
Honey	Lune De Miel

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase

Subject has little domestic purchase.

Import

Products	Food and beverage
Payment Terms	T/T, etc

Sales

Domestic Markets

Product	Food and beverage
Selling Terms	Cash, T/T, etc

Export

Subject has little export.

Financial Information

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. Feng declined to disclose its financials citing the grounds of company’s confidentiality; from other sources we could not obtain such information, either.

Bankers

Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.

Public Record

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.

Special Note

Interview Details

Name	Mr. Feng
Department	Sales Department

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.92
UK Pound	1	Rs.97.12
Euro	1	Rs.76.93

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	NIT

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.