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Report Date : |
13.10.2014 |
IDENTIFICATION DETAILS
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Name : |
SHYE YAO STEEL CO., LTD. |
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Registered Office : |
No.22, Chengda St., Yanchao Dist., Kaohsiung City 824, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
02.08.1988 |
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Com. Reg. No.: |
22982619 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Processing and sale of steel products. |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.22, Chengda St., Yanchao Dist., Kaohsiung
City 824, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-7-616-6579 |
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Fax Number: |
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Email: |
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Website: |
Notes: The exact
name and address are as above.
Subject was incorporated on
1988-8-2 with registered number 22982619 as Joint Stock Company in Taiwan.
Subject
did not introduce whether it has any subsidiaries or branches; from other source
we could not obtain the relevant information, either.
Major Shareholders
|
Name |
Subscription Shares |
|
Shiying Chen |
|
|
44,000 |
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Jianhua Xu |
3,500 |
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Zhili Huang |
28,500 |
|
Maosong Chen |
3,000 |
Core Management
Directors
|
1 |
||
|
Name |
Shiying Chen |
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Position |
Board Chairman |
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2 |
||
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Name |
Jianhua Xu |
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Position |
Director |
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3 |
||
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Name |
Zhili Huang |
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Position |
Director |
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4 |
||
|
Name |
Maosong
Chen |
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Position |
Supervisor |
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Personnel Structure
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Total
Employees |
About 50 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.22, Chengda St., Yanchao Dist., Kaohsiung City
824, Taiwan (R.O.C.) |
Production Information
l
Subject is engaged in processing of
steel products, etc.
l
Subject has a factory in Kaohsiung City, Taiwan for production.
l
Subject’s
production facilities include high precision computerized flying rotary shear line,
high precision slitter line, high precision computerized shear line and
shearing facilities, etc.
Purchase Information
l
The registered activities of subject:
|
1 |
Manufacturing, processing and sale of all kinds of
iron plate, steel plate, metal tube, sheet iron strip, steel strip,
galvanized steel coil |
|
2 |
General import and export business (besides licensed business) |
l The
raw materials for production are mostly purchased in domestic market.
l The
production facilities are purchased from China Steel Corporation (Taiwan) and
Token Machinery Work Co., Ltd (Osaka, Japan).
l Subject
is engaged in sale of steel products, etc.
l
The major products sold by subject include
hot rolled steel coil/sheet, hot rolled check steel coil/sheet, pickling and
oiled steel coil/sheet, cold rolled steel coil/sheet, galvanized steel
coil/sheet galvalume steel coil/sheets, electro galvanized coil/sheet,
prepainted galvanized steel coil/sheet and so on.
l
Subject’s sales regions include Asia,
Europe and America, etc.
Import
and export right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials, etc |
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Payment Terms |
Cash, T/T, etc |
2.
Import
|
Products |
Facilities, etc |
|
Payment Terms |
T/T, etc |
Sales
1.
Domestic Markets
|
Product |
Steel products, etc |
|
Selling Terms |
Cash, T/T, etc |
2.
Export
|
Product |
Steel products, etc |
|
Selling Terms |
L/C, T/T, etc |
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. Ye declined to disclose its financials
citing the grounds of company’s confidentiality; from other sources we could
not obtain such information, either.
Subject
declined to disclose its bank details; from other source we could not obtain
the relevant information, either.
Mortgage
|
1 |
|
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Case Type: |
Chattel Mortgage |
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File No.: |
099894 |
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Debtor Name: |
Shye Yao Steel Co., Ltd. |
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Document Number: |
09930285550 |
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Date of Registration: |
2010-4-20 |
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Date of Alteration: |
2010-9-20 |
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2 |
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Case Type: |
Chattel Mortgage |
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File No.: |
100153 |
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Debtor Name: |
Shye Yao Steel Co., Ltd. |
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Document Number: |
09930297370 |
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Date of Registration: |
2010-5-19 |
Lawsuit
Up to
date of reporting, no existing or latent litigation of the subject has been found.
Interview Details
|
Name |
Mr. Ye |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.77.67 |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.