MIRA INFORM REPORT
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Report No. : |
317137 |
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Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BEST PARTNER TRADING COMPANY |
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Registered Office : |
11F., No.102, Sung Lung Rd., Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
09.09.10981 |
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Com. Reg. No.: |
20899615 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of
household appliances and components |
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No. of Employee : |
About 100 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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. 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.
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Source
: CIA |
Contact
Points
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Company Name: |
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Supplied Name: |
BEST PARTNER TRADING CO. |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
+886-2-2762-6855 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as
above.
Company
Identification Details
History
Subject was
incorporated on 1981-9-9 with registered number 20899615 as Joint Stock Company in Taiwan.
Corporate
Structure
Major Related Companies
|
1 |
|
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Registered Name: |
Bestech Appliance Ind. Company |
|
No.43-8, Chung
Hu Rd., Linkou Dist., New Taipei City 244, Taiwan (R.O.C.) |
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Date of
Foundation: |
2002-1-18 |
|
Registration
Number: |
13012465 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
NTD 25,000,000 (USD 800,000) (As of 2015.4, 1 NTD = 0.032 USD) |
|
Legal Representatives: |
Weilong Huang |
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Legal Form: |
Private Limited Liabilities Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2013-4-30 |
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2 |
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Registered Name: |
Zhengqiang Technology (Huzhou) Co. Ltd. (literal translation) |
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Registered Address: |
No. 22 Plots, Overseas Chinese Investment Park, Nanxun Economic Development Zone, Huzhou City, Zhejiang
Province, China |
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Date of Foundation: |
2001-8-29 |
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Registration Number: |
330500400013540 |
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Registry: |
Administrative Bureau For Industry And Commerce
of Huzhou City |
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Registered Capital: |
USD 3,100,000 |
|
Legal Representatives: |
Jinhua Chu |
|
Legal Form: |
Private Limited Liabilities Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2013-12-2 |
Shareholders
|
Name |
Subscription Shares |
|
Huazheng Huang |
6,900,000 |
|
Huangqiang Huang |
|
|
356,000 |
|
|
Huasheng Huang |
235,000 |
|
Weilun Huang |
489,000 |
|
Weilong Huang |
643,000 |
Management
Information
Core Management
Directors
|
1 |
|
|
Name |
Huazheng Huang |
|
Position |
Chairman of the Board |
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2 |
|
|
Name |
Huaqiang Huang |
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Position |
Director |
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3 |
|
|
Name |
Huasheng Huang |
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Position |
Director |
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4 |
|
|
Name |
Weilun Huang |
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Position |
Director |
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5 |
|
|
Name |
Weilong Huang |
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Position |
Director |
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6 |
|
|
Name |
Zhifang Zhong |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 100 Employees (Taiwan) |
Operation
Information
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject is a trader of household appliances and components, etc. without any production
activities.
It is introduced that subject has related factories in
Taiwan and Mainland China for production.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
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CC01030 |
Manufacturing of electric appliance and audio & video electronic
products |
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CC01080 |
Manufacturing of electronic components |
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F108031 |
Wholesale of medical equipment |
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F108040 |
Wholesale of cosmetic |
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F113030 |
Wholesale of precise instrument |
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F113070 |
Wholesale of telecommunications equipment |
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F118010 |
Wholesale of software |
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F119010 |
Wholesale of electronic materials |
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F208031 |
Retail of medical equipment |
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F208040 |
Retail of cosmetic |
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F213040 |
Retail of precise instrument |
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F213060 |
Retail of telecommunications equipment |
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F218010 |
Retail of software |
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F219010 |
Retail of electronic materials |
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F401010 |
International trade business |
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F113020 |
Wholesale of electric appliance |
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F213010 |
Retail of electric appliance |
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F113010 |
Wholesale of machinery |
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F213080 |
Retail of machinery |
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F106010 |
Wholesale of hardware |
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F206010 |
Retail of hardware |
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F106030 |
Wholesale of mould |
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F206030 |
Retail of mould |
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F109070 |
Wholesale of stationery, musical instrument, recreational supplies |
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F209060 |
Retail of stationery, musical instrument, recreational supplies |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject’s products and components
are purchased from both home and
abroad.
Subject’s major suppliers are “Bestech
Appliance Ind. Company” (Taiwan), “TECO Corp.” (Taiwan) and “Carrier
Corporation” (USA), etc.
Subject is engaged in sale of household appliances and components
The major products sold by subject include air conditioner,
water heater, electric blanket, cleaning machine, electric heater and medical equipment
Subject has own brands of “Formosa” and “Kamp”
Subject’s sales regions include Asia, Europe and America
One of subject’s major customers is Pyramid Time Systems.
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
Domestic Purchase
|
Products |
Household appliances and components |
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Payment Terms |
T/T, Cash |
Import
|
Products |
Household appliances and components |
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Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Household appliances and components |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Household appliances and components |
|
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 introduced that the
annual sales amount is about NTD 900,000,000.
Bankers
Subject declined to disclose any
information about bankers, and we can not obtain the information from other
source.
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.
Interview
Details
|
Name |
Ms. Huang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.93.05 |
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Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
ANK |
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 |
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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 |
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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.