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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
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Name : |
JOO SHUN CO., LTD. |
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Registered Office : |
No.6, Ln. 251, Guanghua Rd., Guoxi Vil., Daliao Dist., Kaohsiung City 831 |
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Country : |
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Date of Incorporation : |
31.12.2007 |
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Com. Reg. No.: |
28905999 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of steel products |
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No. of Employees : |
About 5 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 : |
Unknown |
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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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source
: CIA |
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Company Name: |
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Supplied Name: |
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|
Trading Address: |
No.6, Ln. 251,
Guanghua Rd., Guoxi Vil., Daliao Dist., Kaohsiung City 831, Taiwan (R.O.C.) |
|
Supplied Address: |
No.6 Lane 251
Guanghua Road, Guosi Village Dallao District Kaohsiung |
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Telephone Number: |
+886-7-787-1151 |
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Fax Number: |
|
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E-mail: |
Notes: The exact name and address are as
above.
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Registered Name: |
Joo Shun Co., Ltd. |
|
Registered Address: |
No.6, Ln. 251, Guanghua
Rd., Guoxi Vil., Daliao Dist., Kaohsiung City 831, Taiwan (R.O.C.) |
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Date of Foundation: |
2007-12-31 |
|
Registration Number: |
28905999 |
|
Registry: |
Economic Development Board of Kaohsiung City
Government |
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Registered Capital: |
NTD 3,000,000
(USD 102,000) (As of 2014.03, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Zongxun Xie |
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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 2007-12-31 with registered number 28905999
as Private Limited Liability Company
in Taiwan.
|
Name |
Subscription Amount |
|
Zongxun Xie |
3,000,000 |
The information above is that of subject’s
major shareholders.
Related Company
|
Name: |
Joo Kiat Trading Co., Ltd. |
|
Registered Address: |
No.6, Ln. 251, Guanghua Rd., Guoxi Vil.,
Daliao Dist., Kaohsiung City 831, Taiwan (R.O.C.) |
|
Date of Foundation: |
|
|
Registration Number: |
85901332 |
Core Management
|
Name |
Zongxun Xie |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 5 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.6, Ln. 251, Guanghua Rd., Guoxi Vil., Daliao Dist., Kaohsiung City
831, Taiwan (R.O.C.) |
Production
Information
Subject is a trader of steel
products without any production activities.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
Subject purchases products mainly in domestic market.
·
Subject is engaged in sale of steel products
·
The major products sold by subject include steel
coil, sheet and tin plate
·
Subject’s sales regions include domestic market,
Southeast Asia, Europe and America
·
It is introduced that subject’s export proportion
is over 80%.
·
One of subject’s major customers is Servicios
Integrados Gume Sc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Steel products |
Cash, T/T |
100% |
Foreign
Purchase
Subject has little
import.
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Steel products |
Cash, T/T |
Export
|
Terms |
Proportion |
|
|
Steel products |
L/C, T/T |
100% |
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. Xie declined to disclose
its financials citing the grounds of company’s confidentiality; from other
source we can not 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 |
Mr. Xie |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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.