MIRA INFORM REPORT
|
Report No. : |
316385 |
|
Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROYALBRAND MINTEX CO., LTD. |
|
|
|
|
Registered Office : |
12FL, No. 62, Sec. 1, Fu Hsing S. RD., Da-an
District, Taipei City 106 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
80500246 |
|
|
|
|
Com. Reg. No.: |
23.07.2003 |
|
|
|
|
Legal Form : |
|
|
|
|
|
Line of Business : |
Manufacturing and trading of stretch Nylon Yarn |
|
|
|
|
No. of Employee : |
About 10 |
RATING & COMMENTS
|
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 |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. However, negotiations on follow-on
components of ECFA, including an agreement on trade in services, deals on trade
in goods, and dispute resolution—have stalled. In early 2014, the government
bowed to public demand for a new law governing the oversight of cross-Strait
agreements, before any additional deals with China are implemented; the
legislature has yet to vote on such legislation, leaving the future of ECFA up
in the air as President MA enters his final full year in office. MA has
portrayed ECFA as Taiwan’s key to greater participation in East Asia’s free
trade networks. 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 expected to
account for 20% of the island's total population by 2025. The island runs a
trade surplus, largely because of its surplus with China, and its foreign
reserves are the world's fourth largest, behind those of China, Japan, and
Russia. 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, the 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 has helped Taiwan
develop into a local RMB hub. Closer economic links with the mainland bring
greater opportunities for the Taiwan economy, but also pose new challenges as
the island becomes more economically dependent on China at a time when
political differences remain unresolved. During 2014, the press paid increasing
attention to domestic economic issues while pushing aside the debates over
trade liberalization that were a hallmark of MA’s tenure. The media focused on
the divide between Taiwan’s “haves” and “have nots,” providing extensive
coverage of public frustration with stagnant wages, skyrocketing housing
prices, and the difficulty of finding entry-level jobs.
|
Source
: CIA |
Contact
Points
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.78, Laonong
Road, Tianzhong Town, Zhanghua County, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-4-876-2725 |
|
Fax Number: |
Note: The exact name and address are as above. The
supplied address belongs to subject’s registered address.
Company
Identification Details
|
Registered Name: |
Royalbrand Mintex Co., Ltd. |
|
Registered Address: |
12FL, No. 62, Sec. 1, Fu Hsing S. RD., Da-an
District, Taipei City 106, Taiwan (R.O.C.) |
|
Date of Foundation: |
2003-7-23 |
|
Registration Number: |
80500246 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
(As of 2015.4, 1 NTD = 0.0319 USD) |
|
Legal Representatives: |
Zhiming Chen |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
History
Subject was incorporated
on 2003-7-23 with registered number 80500246
as Private Limited Liability Company
in Taiwan.
Change of Name
|
Former English Name: |
Sun Ming Textile Co., Ltd. |
|
Current English Name: |
Royalbrand Mintex Co., Ltd. |
Corporate
Structure
|
Name: |
Atics Industrial Corporation (literal translation) |
|
Address: |
12Fl, No.62, Sec. 1, Fu Hsing S. Rd., Da-An
District, Taipei City 106, Taiwan (R.O.C.) |
|
Date of Foundation: |
1978-5-31 |
|
Registration Number: |
12175807 |
|
Telephone Number: |
+886-2-2781-7077 |
Factory
|
Name: |
Tianzhong Plant |
|
Address: |
No.78, Laonong Road, Tianzhong Town,
Zhanghua County, Taiwan, R.O.C. |
|
Date of Registration: |
2013-8-9 |
|
Factory Registration Number: |
07000916 |
|
Factory Manager: |
Zhiming Chen |
|
Status: |
In production |
|
Date of Last Annual Return: |
2014-4-14 |
|
Major Products: |
111 spinning |
Shareholders
Major Shareholders
|
Name |
Subscription Amount |
|
Atics Industrial Corporation. (literal translation) |
6,600,000 |
Shareholder Information:
|
Name: |
Atics Industrial Corporation (literal translation) |
|
Address: |
12Fl, No.62, Sec. 1, Fu Hsing S. Rd., Da-An District,
Taipei City 106, Taiwan (R.O.C.) |
Management
Information
Core Management
Directors
|
1 |
|
|
Name |
Zhiming Chen |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 10 employees |
Operation
Information
Offices & Factories
|
|
Headquarters |
|
Add |
No.78, Laonong Road, Tianzhong Town, Zhanghua County, Taiwan, R.O.C. |
Production
Information
Subject is engaged in manufacturing of stretch nylon yarn, etc.
Subject has a factory in Zhanghua, Taiwan for production.
Subject obtained the certification of Oeko-Tex Standard 100.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
C301010 |
The spinning industry |
|
C302010 |
Weaving industry |
|
C307010 |
Manufacturing and sale of garment accessories |
|
C306010 |
Garment industry |
|
C307020 |
Manufacturing and sale of zipper |
|
CB01010 |
Manufacturing of machinery |
|
F104010 |
Wholesale of textile |
|
F104020 |
Wholesale of garment |
|
F104080 |
Wholesale of textile line |
|
F104050 |
Wholesale of garment accessories |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
The components and raw material for production are mostly purchased from
domestic market.
Sales Information
Subject is engaged in sale of stretch nylon yarn
The major products sold by the subject include stretch nylon yarn,
textured polyester yarn, elastic yarn, sewing threads and so on.
It is introduced that customers should contact subject’s parent company
which located in Taipei with the telephone number +886-2-2781-7077 if any
order.
Subject’s sales regions include Asia, Europe and America
Subject’s major customers are plants of hosiery and ribbon
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Settlements
Purchase
Domestic Purchase
|
Products |
Raw material |
|
Payment Terms |
T/T, Cash |
Import
Subject has little import.
Sales
Domestic Markets
|
Product |
Stretch
nylon yarn |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Stretch
nylon yarn |
|
Selling Terms |
L/C, T/T |
Financial
Information
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.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Record
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.
Special
Note
Interview Details
|
Position |
Operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.