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Report Date : |
27.09.2014 |
IDENTIFICATION DETAILS
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Name : |
BEANSUM CO., LTD. |
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Registered Office : |
No.6, Wu Chuan 5th Rd., Wugu Dist., New Taipei City 248, |
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Country : |
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Date of Incorporation : |
25.06.1987 |
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Com. Reg. No.: |
22468253 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in processing and trading of food raw
materials |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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
|
Source
: CIA |
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Company Name: |
|
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Supplied Name: |
|
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Trading Address: |
No.6, Wu Chuan 5th Rd., Wugu Dist., New Taipei City 248, Taiwan (R.O.C.) |
|
Supplied Address: |
No. 6 WU Chuan 5th Road Wu gu Industrial park, New taipei City 24888 |
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Telephone Number: |
+886-2-2299-1677 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
|
Registered Name: |
BEANSUM CO., LTD. |
|
Registered Address: |
No.6, Wu Chuan 5th Rd., Wugu Dist., New Taipei City 248, Taiwan (R.O.C.) |
|
Date of Foundation: |
1987-6-23 |
|
Registration Number: |
22468253 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
NTD 100,000,000 (USD 3,400,000) (As of 2014.09, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 100,000,000 (USD 3,400,000) |
|
Legal Representatives: |
Zhiming Wu |
|
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 1987-6-23 with registered number 22468253 as Joint Stock Company in Taiwan.
Factories
|
1 |
|
|
Address: |
No.6, Wu Chuan 5th Rd., Wugu Dist., New Taipei City 248, Taiwan (R.O.C.) |
|
Date of Foundation: |
1987-9-30 |
|
Date of Registration: |
1990-9-14 |
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Factory Registration Number: |
99601315 |
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Factory Manager: |
Zhiming Wu |
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Status: |
In Production |
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Date of Last Annual Return: |
2001-9-28 |
|
2 |
|
|
Address: |
No.25, 33th Road, Industrial Area, Xiehe Li, Xitun District, Taichung City, Taiwan |
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Date of Registration: |
2003-12-12 |
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Factory Registration Number: |
99702010 |
|
Factory Manager: |
Zhiming Wu |
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Status: |
In Production |
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Date of Last Annual Return: |
2004-7-5 |
Related Company
|
Registered Name: |
|
|
Registered Address: |
1F., No.65, Wunhua N. Rd., Sanchong Dist., New Taipei City 241, Taiwan (R.O.C.) |
|
Date of Foundation: |
1977-12-31 |
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Registration Number: |
15821716 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
NTD 30,000,000 (USD 1,020,000) (As of 2014.09, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 30,000,000 (USD 1,020,000) |
|
Legal Representatives: |
Yirou Wu |
|
Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2012-11-15 |
Major Shareholder
|
Name |
Subscription Shares |
|
Zhiming Wu |
8,058,000 |
|
Yici Wu |
|
|
571,000 |
|
Core Management
Directors
|
1 |
|
|
Name |
Zhiming Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Ruiyun Zhuang |
|
Position |
Director |
|
3 |
|
|
Name |
Yirou Wu |
|
Position |
Director |
|
4 |
|
|
Name |
Yici Wu |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 50 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.6, Wu Chuan 5th Rd., Wugu Dist., New Taipei City 248, Taiwan (R.O.C.) |
Production Information
Subject is a trader and processor of food raw materials, etc.
Subject has processing factories and warehouses in New Taipei City and Taichung City, etc.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
A102060 |
Grain industry |
|
F101990 |
Wholesale of other agricultural product, animal product and aquatic product |
|
F102170 |
Wholesale of food and grocery |
|
F108011 |
Wholesale of traditional Chinese medicine |
|
F201990 |
Retail of other agricultural product, animal product and aquatic product |
|
F203010 |
Retail of food and beverage |
|
F208011 |
Retail of traditional Chinese medicine |
|
G801010 |
Warehousing industry |
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JA02990 |
Other repair services |
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A102020 |
Processing of agricultural product |
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C199040 |
Manufacturing and processing of soy food |
Subject purchases products mainly from abroad such as USA, Canada and Southeast Asia, etc.
Subject’s major suppliers are Globenatural International S.A. and Sumitomo Canada Ltd.
Subject is engaged in sale of food raw materials, etc.
Subject’s major products include bean, potato, corn, wheat, tapioca starch, monosodium glutamate, edible nuts, sea laver, sea weed and sesame seed, etc.
Subject’s sales region is mainly in Taiwan domestic market.
Subject’s major customers are food manufacturers, wholesalers and supermarkets, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little domestic purchase.
Foreign Purchase
|
Terms |
Proportion |
|
|
Food raw materials, etc |
L/C, T/T, etc |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Food raw materials, etc |
Cash, T/T, etc |
100% |
Export
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. Fan declined to disclose its financials citing the grounds of company’s confidentiality; from other source we cannot obtain the relevant information, either.
Subject declined to disclose its bank details; from other source we cannot 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.
|
Name |
Ms. Fan |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.44 |
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 |
|
|
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 |
|
|
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.