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Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
LOOMTECH INDUSTRIES INCORPORATION |
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|
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Registered Office : |
11F.-6, No.130,
Sec. 2, Zhongxiao E. Rd., Zhongzheng Dist., Taipei City 10053, |
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Country : |
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Date of Incorporation : |
23.10.20009 |
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Com. Reg. No.: |
24474077 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of
chemicals |
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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 : |
No complaints |
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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: |
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|
Trading Address: |
11F.-6, No.130, Sec. 2, Zhongxiao E. Rd., Zhongzheng Dist., Taipei City
10053, Taiwan (R.O.C.) |
|
Supplied Address: |
11F,-6,NO.130,SEC.2,ZHONGXIAO E.RD., ZONGZHENG DIST,TAIPEI CITY 100
TAIWAN |
|
Telephone Number: |
+886-2-8780-9003 |
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Fax Number: |
|
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E-mail: |
Notes: The exact
name and address are as above.
|
Registered Name: |
LOOMTECH INDUSTRIES INCORPORATION |
|
Registered
Address: |
11F.-6, No.130,
Sec. 2, Zhongxiao E. Rd., Zhongzheng Dist., Taipei City 10053, Taiwan
(R.O.C.) |
|
Date of
Foundation: |
2009-10-23 |
|
Registration
Number: |
24474077 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
(As of 2014.09, 1
NTD = 0.0331 USD) |
|
Legal
Representatives: |
Huiguang Huang |
|
Legal Form: |
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|
Principal
Activities: |
|
|
Staff: |
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|
Listed at Stock Exchange: |
|
|
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 2009-10-23 with registered number 24474077 as Private Limited Liability Company in Taiwan.
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 Amount |
|
Huiguang Huang |
20,000,000 |
Core Management
Directors
|
Name |
Huiguang Huang |
|
Position |
Director |
Offices & Factories
|
|
Headquarters |
|
Add |
11F.-6, No.130, Sec. 2, Zhongxiao E. Rd., Zhongzheng Dist., Taipei City 10053, Taiwan (R.O.C.) |
Production Information
Subject is a trader of chemicals and etc without any production activities
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F101070 |
Wholesales of fishing tools. |
|
F101130 |
Wholesales of vegetables. |
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F102020 |
Wholesales of edible fat and oil. |
|
F102050 |
Wholesales of tea. |
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F102170 |
Wholesales of miscellaneous goods and food. |
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F104110 |
Wholesales of cloth, wearing, shoes, caps, umbrella and garment’s accessories. |
|
F105050 |
Wholesales of furniture, sleeping supplies, kitchenware and decoration. |
|
F106020 |
Wholesales of daily supplies. |
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F107020 |
Wholesales of dyes and pigment. |
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F111090 |
Wholesales of construction materials. |
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F401010 |
International trading business. |
|
I501010 |
Designing for products. |
|
I503010 |
Interior designing and landscape designing. |
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F113010 |
Wholesales of machinery. |
|
E801010 |
Interior designing. |
|
E801030 |
Project of interior T-Bar. |
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F119010 |
Wholesales of electronic materials. |
|
F219010 |
Retails of electronic materials. |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
It is introduced that subject purchases its products mainly in Taiwan domestic market.
Subject is engaged in sale of chemicals and etc.
Subject’s sales regions cover China, Southeast Asia and etc.
Subject’s major customers are manufacturers of textile industry, plastic industry and etc.
It is introduced that subject has cooperated with many companies such as Nan Ya Plastics Corporation, Formosa Petrochemical Corporation, China Petrochemical Development Corp., Ho Tung Chemical Corporation, CY Chemical Corporation, Chang Chun Petrochemical Co., Ltd and etc.
Major Products
|
Types |
Products |
|
Petrochemicals |
PA, PTA, DOP, MEG,
ACRYLIC ACID, AN, BPA, TOULENE, BENZENE, NORMAL PARRAFIN, HEAVY NORMAL
PARAFFIN, 2EH, CARBON BLACK |
|
Plastic Polymers |
HDPE, LDPE, LLDPE,
PVC, PP, PS, ABS, EPS, HIPS, PC, EVA, POM, |
|
Textile Downstream |
POLYESTER,
ACRYLIC, NYLON, SPANDEX, VISCOSE, PET, ( ALL TYPES OF YARN AND FIBERS LIKE
DTY, POY, FDY, PSF, VSF, ASF, PV, TC. |
|
Industrial |
INDUSTRIAL
POLYESTER YARN, TIRE CORD FABRIC, TRANSMISSION BELT, PA6, PA66, PBT, TIRE |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Chemicals and etc |
|
Payment Terms |
T/T, cash and etc |
Import
The subject has
little import.
Sales
Domestic Markets
|
Product |
Chemicals and etc |
|
Selling Terms |
T/T, cash and etc |
Export
|
Product |
Chemicals and etc |
|
Selling Terms |
T/T, L/C 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. Zhanng 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. Zhang |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.95 |
|
|
1 |
Rs.99.32 |
|
Euro |
1 |
Rs.78.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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 |
|
|
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.