|
Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
GOOD YOUNG CO., LTD. |
|
|
|
|
Registered Office : |
No.33, Hsi Tung Rd., Sanxia Dist., New Taipei City 237,
(R.O.C.) |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
26.05.1990 |
|
|
|
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Com. Reg. No.: |
23778072 |
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|
|
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Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Manufacturing and trading of tea, coffee. |
|
|
|
|
No of Employees : |
About 200 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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.31 & No.31, Hsi Tung Rd., Sanxia Dist., New Taipei City 237, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-8676-2456 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated on 1990-5-26 with registered number 23778072 as Joint Stock Company in Taiwan.
Factory
|
1 |
|
|
Address: |
1F., No.536, Kangzhuang Rd., Daxi Township, Taoyuan County, Taiwan (R.O.C.) |
|
Date of Registration: |
2002-12-19 |
|
Factory Registration Number: |
99628392 |
|
Factory Manager: |
Wenyu Zhou |
|
Status: |
In production |
|
Date of Last
Annual Return: |
2002-12-19 |
|
Major Products: |
089 Other food |
|
Tel |
+886-3-3872355 |
|
Fax |
+886-3-3872595 |
|
2 |
|
|
Address: |
No. 5, fuxing rd, tucheng industrial zone, tucheng district, New Taipei City, Taiwan |
|
Tel |
+886-2-22675977 |
Major Shareholders
|
Name |
Subscription Shares |
|
Wenyu Zhou |
156,000 |
|
Meiyan Chen |
|
|
94,000 |
Core Management
Directors
|
1 |
||
|
Name |
Wenyu Zhou |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Wenjin Zhou |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Meiyan Chen |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Xuxiu Zhou |
|
|
Position |
Supervisor |
|
Personnel
Structure
|
Total Employees |
About 200 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.31 & No.31, Hsi Tung Rd., Sanxia Dist., New Taipei City 237, Taiwan (R.O.C.) |
Production
Information
· Subject is engaged in manufacturing of tea, coffee.
· Subject has 2 factories in Taiwan for production.
· It is introduced that subject has obtained certifications of ISO 9001 and ISO 22000.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
C111010 |
Manufacturing of tea. |
|
CB01990 |
Manufacturing of other machinery. |
|
F101130 |
Wholesales of fruit and vegetable. |
|
F102050 |
Wholesales of tea. |
|
F201010 |
Retails of agriculture products. |
|
F203010 |
Retails of food, miscellaneous goods and drinks. |
|
F401010 |
International trading business. |
|
A101030 |
Growing up special crop. |
|
A102050 |
Services of growing up crop. |
|
I101070 |
Consultant in agriculture, forestry, fishery and stock farming industry. |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
· Subject purchases its raw materials from Taiwan, the mainland of China, Sir Lanka and etc.
· Subject is engaged in sale of tea, coffee.
· The major products include oolong tea, green tea, jasmine tea, black tea, tea bag, milk tea, coffee, herb tea.
· Subject’s sales regions cover United States, Argentina, Australia, Mainland China, Hong Kong, Japan, Macau, Malaysia, Singapore, Taiwan, ROC, Canada, Sri Lanka, etc.
· Subject’s major customers are tea café, café and etc.
· It is introduced that subject can provide OEM and ODM services.
· It is introduced that subject has its own brands named ‘Casa”, ‘”Adufun” and etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1. Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
Cash, T/T and etc |
2. Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T and etc |
Sales
1. Domestic Markets
|
Product |
Tea, coffee |
|
Selling Terms |
Cash, T/T and etc |
2. Export
|
Product |
Tea, coffee |
|
Selling Terms |
L/C, T/T and 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 Ms. Lin 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
|
Case Type: |
Certificate No.: |
Debtor Name: |
Document Number: |
Date of Registration: |
|
Chattel Mortgage |
082261 |
Good Young Co.,
Ltd. |
09405063020 |
2005/1/11 |
|
Chattel Mortgage |
101161 |
Good Young Co.,
Ltd. |
09930336510 |
2010/8/27 |
|
Chattel Mortgage |
109687 |
Good Young Co.,
Ltd. |
10331025650 |
2014/5/1 |
|
Chattel Mortgage |
102981 |
Good Young Co.,
Ltd. |
10030314790 |
2011/3/2 |
|
Chattel Mortgage |
109688 |
Good Young Co.,
Ltd. |
10331025660 |
2014/5/1 |
|
Chattel Mortgage |
107029 |
Good Young Co.,
Ltd. |
10130365150 |
2012/12/20 |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
Interview Details
|
Name |
Ms. Lin |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.23 |
|
|
1 |
Rs.98.53 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
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.