|
Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
GRAND TEXTILE CO., LTD. |
|
|
|
|
Registered Office : |
7F., No.657-9, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
17.09.1987 |
|
|
|
|
Com. Reg. No.: |
22640352 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of Textiles |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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: |
7F., No.657-9,
Jhongjheng Rd., Xinzhuang Dist., New Taipei City 242, Taiwan (R.O.C.) |
|
Supplied Address: |
7F NO. 657-9,
CHUNG CHENG ROAD, HSIN CHAUNG CITY, TAIPEI, TAIWAN |
|
Telephone Number: |
+886-2-2908-1168 |
|
Fax Number: |
Notes: The exact name and
address are as above.
Notes: Subject declined to
disclose its staff number; from other source we cannot obtain the relevant
information, either.
Subject was incorporated
on 1987-9-17 with registered number 22640352
as Joint Stock Company in Taiwan.
Change of Name
|
Former Chinese Name: |
昊紡有限公司 |
|
Current Chinese Name: |
昊紡股份有限公司 |
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 |
|
Renhuan Lv |
2,030,000 |
|
Wanzhen Xu |
1,530,000 |
Core Management
Directors
|
1 |
||
|
Name |
Renhuan Lv |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Wanzhen Xu |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Shicun Xu |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Guizhu |
|
|
Position |
Supervisor |
|
Offices & Factories
|
|
Headquarters |
|
Add |
7F., No.657-9, Jhongjheng Rd., Xinzhuang Dist., New Taipei City 242,
Taiwan (R.O.C.) |
Production
Information
Subject is engaged in manufacturing of textiles, etc.
It is introduced that subject has a factory in
Taiwan for production, however, the subject declined to introduce detailed
location for us, we cannot find relevant information about it, either.
Purchase
Information
The registered
activities of subject:
|
Business Code |
Details |
|
F401010 |
International trading business. |
|
C306010 |
Garment industry. |
|
F104110 |
Wholesales of cloth, wearing, shoes, caps, umbrella and garment’s
accessories. |
|
F204110 |
Retails of cloth, wearing, shoes, caps, umbrella and garment’s
accessories. |
|
C307010 |
Manufacturing of garment’s accessories. |
|
C399990 |
Manufacturing of other textiles and related production. |
|
C301010 |
Spinning industry. |
|
C302010 |
Weaving industry. |
|
C303010 |
Non-woven fabric industry, |
|
C305010 |
Printing, dying and tidying industry. |
|
C801120 |
Manufacturing of man-made fiber. |
|
C802120 |
Manufacturing of industrial aids. |
|
F107170 |
Wholesales of industrial aids. |
|
F207170 |
Retails of industrial aids. |
|
C802200 |
Manufacturing of coating, painting, dyes and pigment. |
|
F107020 |
Wholesales of dyes and pigment. |
|
F207020 |
Retails of dyes and pigment. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
It is introduced that subject purchases its raw materials and etc both
at home and abroad.
Subject is engaged in sale of textiles
The major products are woven and knit fabric, such as stone cold fabric,
coffee charcoal fabric, nano clay fabric, dye free fabric, SPECIAL layer
bonding with coffee membrane (2 layer, 2.5 layer and 3 layer), push & pull
(2-way treatment), bioceramic fabric and so on.
Subject’s sales regions cover Asia, Europe, America
Subject’s major customers are manufacturers of protective clothing,
outdoor and casual, sports and performance wear
It is introduced that subject has cooperated with many famous brands,
such as C&A, adidas, New Balance, ROOTS, Target
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, cash |
Import
|
Products |
Raw materials |
|
Payment Terms |
T/T, L/C |
Sales
Domestic Markets
|
Product |
Textiles |
|
Selling Terms |
T/T, cash |
Export
|
Product |
Textiles |
|
Selling Terms |
T/T, L/C |
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 Mr. Gary 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 |
Mr. Gary |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared by
: |
TPT |
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 |
|
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.