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Report Date : |
29.09.2014 |
IDENTIFICATION DETAILS
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Name : |
TOSEVA TRADING CO., LTD. |
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Registered Office : |
9Fl.,No.208,Sec.3,Tungyang Rd., Tucheng Dist., New Taipei City 236 |
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Country : |
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Date of Incorporation : |
11.07.1973 |
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Com. Reg. No.: |
04927642 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and sale of wood products. |
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No. of Employees : |
About 150 Employees |
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 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
|
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: |
9Fl.,No.208,Sec.3,Tungyang
Rd., Tucheng Dist., New Taipei City 236, Taiwan |
|
Supplied Address: |
9F, NO. 208, SEC
3, JUNG YANG ROAD, TOSEVA TOWN, TUCHENG DIST. NEW TAIPEI CITY, TAIWAN, R.O.C |
|
Telephone Number: |
+886-2-2269-8066 |
|
Fax Number: |
Notes: The exact name and address are as above.
|
Registered Name: |
TOSEVA TRADING CO., LTD. |
|
Registered Address: |
9Fl.,No.208,Sec.3,Tungyang Rd., Tucheng
Dist., New Taipei City 236, Taiwan |
|
Date of Foundation: |
1973-7-11 |
|
Registration Number: |
04927642 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
(As of 2014.09, 1 NTD = 0.0331 USD) |
|
Legal Representatives: |
Tianshang Zhou |
|
Legal Form: |
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Principal Activities: |
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|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on
1973-7-11 with registered number 04927642 as Private Limited Liability Company
in Taiwan.
Factory
|
Address: |
9Fl.,No.208,Sec.3,Tungyang Rd., Tucheng
Dist., New Taipei City 236, Taiwan |
|
Date of Registration: |
2002-1-8 |
|
Factory Registration Number: |
99602762 |
|
Factory Manager: |
Tianshang Zhou |
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Status: |
In Production |
|
Date of Last Annual Return: |
2002-1-8 |
|
Major Products: |
140 wood and bamboo products |
Related Companies:
|
1 |
|
|
Name: |
Toseva Timber Pte., Ltd. |
|
Tel: |
+65-6749-2166 |
|
Fax: |
+65-6749-1966 |
|
2 |
|
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Name: |
Toseva Myanmar (Yangon) Trading Co., Ltd. |
|
Tel: |
+95-1-221268 / 214812 / 720744 |
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Fax: |
+95-951-30896 |
|
3 |
|
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Name: |
Toseva Timber Dong Guan Co., Ltd |
|
Tel: |
+86-769-8556-3123 |
|
Fax: |
+86-769-8556-3267 |
Major Shareholders
|
Name |
Subscription Amount |
|
Tianshang Zhou |
|
|
10,800,000 |
|
|
Xuezhen Guo |
7,600,000 |
Core Management
Directors
|
1 |
||
|
Name |
Tianshang Zhou |
|
|
Position |
Chairman of the Board |
|
|
2 |
||
|
Name |
Xuezhen Guo |
|
|
Position |
Director |
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Personnel
Structure
|
Total Employees |
About 150 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
9Fl.,No.208,Sec.3,Tungyang Rd., Tucheng Dist., New Taipei City 236,
Taiwan |
Production
Information
Subject is engaged in manufacturing of wood products, etc.
Subject has factories in Taipei City, Pingdong County of Taiwan for
production.
It is introduced that subject’s group has factories in Dongguan City of
China, Singapore and Myanmar for production. But we cannot obtain the detail
information.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
All kinds of import and export trade business |
|
-- |
Agent distribution of bid price quotations of the related
manufacturers products at home and abroad |
|
-- |
About import and export trade business |
|
C501020 |
Wood processing industry |
|
C501060 |
Wooden container manufacturing |
The raw materials for production are mostly purchased from Southeast
Asia, Europe, USA and Africa, etc.
Subject is engaged in sale of wood products,
etc.
The major products sold by the subject include wood, door panels, stone
veneer, superdeckings/margin boards, mini-deckings, house and garden deckings,
tri-ply wood, etc.
Subject’s sales regions are domestic market and abroad.
Subject’s major customers are manufacturers of doors, furniture, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
Subject has little domestic purchase.
Import
|
Products |
Wood, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
Wood products, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Wood products, 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 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.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared by
: |
SDA |
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.