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Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
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Name : |
FUMI RESOURCES ENTERPRISE CORPORATION |
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Registered Office : |
15F., No.140,
Zhongshan N. Rd., Gangshan Dist., Kaohsiung City 820, |
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Country : |
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Date of Incorporation : |
11.06.2010 |
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Com. Reg. No.: |
53057179 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of steel
products |
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No. of Employees |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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 : |
Unknown |
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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 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 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
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Company Name: |
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Former Name: |
FUMI TECHNOLOGY ENTERPRISE CORPORATION |
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Supplied Name: |
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Trading Address: |
15F., No.140, Zhongshan N. Rd., Gangshan Dist., Kaohsiung City 820,
Taiwan (R.O.C.) |
|
Supplied Address: |
5F, NO.140, CHUNG SHAN N. ROAD, GANG SHAN DISTRICT 82065, KAOHSIUNG
CITY, TAIWANI |
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Telephone Number: |
+886-7-6226975 |
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Fax Number: |
Notes: The exact
name and address are as above.
|
Registered Name: |
FUMI RESOURCES ENTERPRISE CORPORATION |
|
Registered
Address: |
15F., No.140,
Zhongshan N. Rd., Gangshan Dist., Kaohsiung City 820, Taiwan (R.O.C.) |
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Date of
Foundation: |
2010-6-11 |
|
Registration
Number: |
53057179 |
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Registry: |
Economic
Development Board of Kaohsiung City Government |
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Registered
Capital: |
(As of 2014.08, 1
NTD = 0.0331 USD) |
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Paid-up Capital: |
NTD 5,000,000 (USD
165,500) |
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Legal
Representatives: |
Mofen Hou |
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Legal Form: |
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Principal
Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Notes: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
Subject was incorporated on 2010-6-11 with registered number 53057179 as Joint Stock Company in Taiwan.
|
Former English Name: |
Fumi Technology
Enterprise Corporation |
|
Current English Name: |
Fumi Resources
Enterprise Corporation |
Subject did not introduce
whether it has any subsidiaries or branches, from other source we can not
obtain the relevant information, either.
Major Shareholders
|
Name |
Subscription Shares |
|
Mofen Hou |
60,000 |
Core Management
Directors
|
1 |
||
|
Name |
Mofen Hou |
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|
Position |
Board Chairman |
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|
2 |
||
|
Name |
Wenling Ke |
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Position |
Director |
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3 |
||
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Name |
Sugan Chencai |
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Position |
Director |
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4 |
||
|
Name |
Qimei Zhang |
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Position |
Supervisor |
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Offices & Factories
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Headquarters |
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Add |
15F., No.140, Zhongshan N. Rd., Gangshan Dist., Kaohsiung City 820, Taiwan (R.O.C.) |
Production Information
Subject is a trader of steel products and etc without any production activities
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
E604010 |
Installing of machinery. |
|
F401010 |
International trading business. |
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F113010 |
Wholesales of machinery. |
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F113030 |
Wholesales of precision instrument. |
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F113050 |
Wholesales of computer and office equipment. |
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F106010 |
Wholesales of hardware. |
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F107200 |
Wholesales of chemical materials. |
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F111090 |
Wholesales of construction materials. |
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F119010 |
Wholesales of electronic materials. |
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F199010 |
Wholesales of recycling materials. |
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F199990 |
Other wholesales. |
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F206010 |
Retails of hardware. |
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F299990 |
Other retails. |
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ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
It is introduced that subject imports its products from Europe and America, etc.
Subject is engaged in sale of steel products and etc.
The major products are scrap steel and so on.
Subject’s sales regions are mainly in Taiwan.
Subject’s major customers are steel works and etc.
The minimal quantity of orders of subject is one container.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
The subject has
little purchases in domestic market.
Import
|
Products |
Steel products and etc. |
|
Payment Terms |
L/C, T/T and etc |
Sales
Domestic Markets
|
Product |
Steel products and etc. |
|
Selling Terms |
Cash, T/T and etc |
Export
The subject has
little export.
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. Hou declined to disclose its financials citing the grounds of
company’s confidentiality; from other sources we could not obtain such
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. Hou |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.48 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
NIS |
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.