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Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
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Name : |
WU YEE ENTERPRISE CO., LTD. |
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Registered Office : |
3Fl., No.3, Alley 59, Lane 42, Minchiuan Rd., Xindian Dist., New Taipei City 231, |
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Country : |
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Date of Incorporation : |
28.07.1995 |
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Com. Reg. No.: |
89652335 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and
sale of electronic products |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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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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Supplied Name: |
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Trading Address: |
3Fl., No.3, Alley 59, Lane 42, Minchiuan Rd., Xindian Dist., New Taipei
City 231, Taiwan (R.O.C.) |
|
Supplied Address: |
3 Fl, No.3, Alley 59, Lane 42, Min-Chuan Hsin Tien Dist New Taipei
Taiwan 23141 |
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Telephone Number: |
+886-2-2913-4001 |
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Fax Number: |
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Email: |
Notes: The exact
name and address are as above.
|
Registered Name: |
WU YEE ENTERPRISE CO., LTD. |
|
Registered Address: |
3Fl., No.3, Alley
59, Lane 42, Minchiuan Rd., Xindian Dist., New Taipei City 231, Taiwan
(R.O.C.) |
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Date of
Foundation: |
1995-7-28 |
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Registration
Number: |
89652335 |
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Registry: |
New Taipei City
Government |
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Registered
Capital: |
(As of 2014.09, 1
NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 15,000,000
(USD 510,000)) |
|
Legal
Representatives: |
Jie Yao |
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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: |
Subject was incorporated on 1995-7-28 with registered number 89652335 as Joint Stock Company in Taiwan.
Change of Name
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Former Chinese Name: |
五義企業有限公司 |
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Current Chinese Name: |
五義企業股份有限公司 |
Factory
|
Address: |
3/F., No.3, Ally 59, Lane 42, Minquan Road, Xindian District, New Taipei City, Taiwan |
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Date of Foundation: |
1998-5-2 |
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Date of Registration: |
1998-5-18 |
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Factory Registration Number: |
99608227 |
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Factory Manager: |
Xianmei Shi |
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Status: |
In Production |
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Date of Last
Annual Return: |
2007-8-8 |
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Major Products: |
271 computer and peripheral equipment |
Major Shareholders
|
Name |
Subscription Shares |
|
Jie Yao |
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|
450,000 |
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Biyu Liao |
150,000 |
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Daidong Fan |
150,000 |
Core Management
Directors
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1 |
||
|
Name |
Jie Yao |
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Position |
Board Chairman |
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2 |
||
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Name |
Fahua Xu |
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Position |
Director |
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3 |
||
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Name |
Biyu Liao |
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Position |
Director |
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4 |
||
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Name |
Daidong Fan |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 50 Employees |
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|
Headquarters |
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Add |
3Fl., No.3, Alley 59, Lane 42, Minchiuan Rd., Xindian Dist., New Taipei City 231, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of electronic products, etc.
Subject has a factory in New Taipei City, Taiwan for production.
It is introduced that subject provide OEM service.
Purchase Information
The registered activities of subject:
|
1 |
Manufacturing, processing and sales of computer host, mainboard, adapter, display, peripheral equipment, electronic component, integrated circuit, semiconductor |
|
2 |
R & D and sales of software |
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3 |
Manufacturing, processing and sales of vertical modem, level modem, mouse keyboard and other electronic components |
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4 |
Import and export of above items |
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5 |
As an agent assists in developing quoting, bidding and distributing about home and abroad companies’ products |
The components and raw materials for production are mostly purchased in domestic market.
Subject is engaged in sale of electronic products, etc.
Subject’s major products are set top box and related components, etc.
Subject’s sales regions include Asia and America, etc.
Subject’s major types of customers are cable and digital companies.
Subject’s major customers are World Wide Digital Company Llc and Flextronics Mfg. Mex Sa De, etc.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Components and raw materials, etc |
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Payment Terms |
Cash, T/T, etc |
Import
Subject has little
import.
Sales
Domestic Markets
|
Product |
Electronic products, etc |
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Selling Terms |
Cash, T/T, etc |
Export
|
Product |
Electronic products, etc |
|
Selling Terms |
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 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
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.02 |
|
|
1 |
Rs.99.99 |
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Euro |
1 |
Rs.78.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.