|
Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
KEDING ENTERPRISES CO., LTD. |
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|
|
|
Registered Office : |
1F., No.2, Alley 2, Lane 175, Sec. 2, Fusing Rd., Xinzhuang Dist., New Taipei City 242, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
22.07.2002 |
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Com. Reg. No.: |
80214519 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of floor |
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|
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No. of Employees : |
500 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
|
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.16, Lane 287, Sec. 5, Xinbei Road,
Taishan District, New Taipei City, Taiwan (R.O.C.) |
|
Supplied Address: |
No 16 LN 287 Sec 5, New Taipei Boulevard
Taishan Dist New Taipei City |
|
Telephone Number: |
+886-2-2296-3999 |
|
Fax Number: |
|
|
Website: |
The exact name and address are as above.
|
Registered Name: |
Keding Enterprises Co., Ltd. |
|
Registered Address: |
1F., No.2, Alley 2, Lane 175, Sec. 2, Fusing Rd., Xinzhuang Dist., New
Taipei City 242, Taiwan (R.O.C.) |
|
Date of Foundation: |
2002-7-22 |
|
Registration Number: |
80214519 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
NTD 500,000,000
(USD 17,000,000) (As of 2014.10, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 440,000,000 (USD 14,960,000) |
|
Legal Representatives: |
Xianzhang Cao |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was
incorporated on 2002-7-22 with registered number 80214519 as Joint Stock Company in
Taiwan.
Factories
|
1 |
|
|
Name: |
Pingdong 1st Factory |
|
Address: |
No.1027,
Dachang Road, Wandan Township, Pingdong County, Taiwan |
|
Tel: |
+886-8-707-1498 |
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Fax: |
+886-8-707-1806 |
|
2 |
|
|
Name: |
Pingdong 2nd Factory |
|
Address: |
No.99,
Siwei West Road, Wandan Township, Pingdong County, Taiwan |
|
Tel: |
+886-8-776-4846 |
|
3 |
|
|
Name: |
Pingdong 3rd Factory |
|
Address: |
No.29,
Lane 495, Sec 1, Zhongxing Road, Wandan Township, Pingdong County, Taiwan |
|
Tel: |
+886-8-777-5001 |
Major Related Companies
|
1 |
|
|
Name: |
Keding (Shanghai) Trading Co., Ltd. |
|
Address: |
2F, No.
843, Yuyuan Rd., Changning Dist.(Area), Shanghai City, China |
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Tel: |
+86-21-6252-2989 |
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Fax: |
+86-21-6252-3006 |
|
2 |
|
|
Name: |
Keding (Hong Kong) Enterprises Ltd. |
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Address: |
Room
3001, 11/F, AXA Centre, No.151, Gloucester Rd., Wanchai, Hong Kong |
|
Tel: |
+852-3689-0417 |
|
Fax: |
+852-3689-0418 |
|
3 |
|
|
Name: |
KD North America, Inc. |
|
Address: |
94
North 3rd Street, Brooklyn, NY 11249 USA |
|
Tel: |
+1-718-599-0155 |
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Fax: |
+1-718-599-0113 |
|
4 |
|
|
Name: |
Keding Enterprises Pte. Ltd. |
|
Address: |
8
Burn Road #05-16 Trivex Singapore 369977 |
|
Tel: |
+65-6250-5450 |
|
Fax: |
+65-6250-5452 |
Major Shareholders
|
Name |
Subscription Shares |
|
Xianzhang Cao |
7,603,055 |
|
Tianhua Huang |
3,650,937 |
|
Meiyun Chen |
2,676,819 |
|
Qingshan Zeng |
475,997 |
|
Shufen Huang |
755,187 |
|
Wanjie Huang |
473,891 |
Core Management
Directors
|
1 |
||
|
Name |
Xianzhang Cao |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Tianhua Huang |
|
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Position |
Director |
|
|
3 |
||
|
Name |
Meiyun Chen |
|
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Position |
Director |
|
|
4 |
||
|
Name |
Qingshan
Zeng |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Shufen Huang |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Wanjie Huang |
|
|
Position |
Supervisor |
|
|
|
Headquarters |
|
Add |
No.16, Lane 287, Sec. 5, Xinbei Road, Taishan District, New Taipei
City, Taiwan (R.O.C.) |
Production Information
l
Subject is engaged in manufacturing of
floors, etc.
l
Subject has factories in Taiwan for
production.
l
Subject obtained the certifications of
ISO 9001 and ISO 14001.
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C501010 |
Lumber industry |
|
C501030 |
Manufacturing of plywood |
|
C501040 |
Manufacturing of composite wood |
|
E801010 |
Interior decorating business |
|
E901010 |
Paint works |
|
F120010 |
Wholesale of fireproofing |
|
F401010 |
International trade business |
|
F106010 |
Wholesale of hardware |
|
F206010 |
Retail of hardware |
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C501990 |
Manufacturing of other wood products |
|
EZ99990 |
Other engineering business |
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F107190 |
Wholesale of plastic film and bag |
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F111090 |
Wholesale of building materials |
|
F207190 |
Retail of plastic film and bag |
|
F211010 |
Retail of building materials |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
|
H701010 |
Development and rent of residence and building |
|
H701020 |
Development and rent of industrial premises |
l
The raw materials for production are
purchased from both home and abroad such as Taiwan, Mainland China, other Asia
countries and America, etc.
l
One of subject’s major foreign
suppliers is Cherry Forest Products.
l Subject
is engaged in sale of floors, etc.
l
Subject’s major products are wood
veneered panel, hand-scraped wood floor and so on.
l
Subject has its own brand “Kd”.
l
It is introduced that subject has showroom
in Taipei, Taichung, Kaohsiung, Shanghai, Beijing, Shenzhen and Chongqing, etc.
l
Subject’s sales regions include Asia,
Europe and America, etc.
l
One of subject’s customers is J Y and E
Co.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw
materials |
|
Payment Terms |
Cash, T/T, etc |
2.
Import
|
Products |
Raw
materials |
|
Payment Terms |
T/T, etc |
Sales
1.
Domestic Markets
|
Product |
Floors, etc |
|
Selling Terms |
Cash, T/T, etc |
2.
Export
|
Product |
Floors, 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 Ms. Huang 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
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.
Interview Details
|
Name |
Ms. Huang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.22 |
|
|
1 |
Rs.98.52 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
|
|
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.