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Report No. : |
317930 |
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Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
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Name : |
KOAE MOW CO., LTD. |
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Registered Office : |
No.57, Chung-Sing Rd., Chung Sing St. She
Tou Sh. Jang Huah County |
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Country : |
Taiwan |
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Date of Incorporation : |
20.04.1993 |
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Com. Reg. No.: |
84245009 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in trading of spinning |
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No. of Employee : |
10 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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 |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.57, Chung-Sing Rd., Chung Sing St. She
Tou Sh. Jang Huah County, Taiwan |
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Supplied Address: |
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Telephone Number: |
+886-4-873-4981 |
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Fax Number: |
Notes: The exact name and address are as above.
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Registered Name: |
KOAE MOW CO.,
LTD. |
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Registered Address: |
No.57, Chung-Sing Rd., Chung Sing St. She Tou Sh. Jang Huah County,
Taiwan |
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Date of Foundation: |
1993-4-20 |
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Registration Number: |
84245009 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2015.4, 1 NTD = 0.0320 USD) |
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Legal Representatives: |
Xiuxia Wu |
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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: |
Note: Subject declined to disclose the number of
staff, and from other source we cannot obtain the detail information.
Subject was incorporated on 1993-4-20 with registered
number 84245009 as Private Limited Liability Company in Taiwan.
Subject did not register any subsidiaries or branches; from other source
we could not obtain the relevant information, either.
Major Shareholders
|
Name |
Subscription Amount |
|
Xiuxia Wu |
|
|
1,250,000 |
Core Management
Directors
|
Name |
Xiuxia Wu |
|
Position |
Director |
Personnel Structure
|
Total Employees |
About 10 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.57, Chung-Sing Rd., Chung Sing St. She Tou Sh. Jang Huah County,
Taiwan |
Production Information
l
Subject is a trader of spinning, etc. without any
production activities.
l
It is introduced that subject has a cooperated
factory in Taiwan for dyeing of subject’s spinning.
Purchase Information
l
The registered activities of subject:
|
No. |
Details |
|
1 |
Manufacturing, processing, buying and selling of natural
cotton, yarn and synthetic fiber. |
|
2 |
Importing and exporting of natural cotton, yarn
and synthetic fiber. |
l
It is introduced that the base yarn of the subject
are mainly purchased from abroad.
l Subject is engaged
in sale of spinning, etc.
l
The major products cotton yarn and chiffon, etc.
with various colors.
l
Subject mainly sells its products in Taiwan local
market.
l
Subject’s major customers are manufacturers of
cloth, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
Subject has little domestic purchase.
2.
Import
|
Products |
Base yarn, etc. |
|
Payment Terms |
L/C, T/T, etc. |
1.
Domestic Markets
|
Product |
Spinning, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
Subject has little
export.
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
|
Interview Date |
2015-4-21 |
|
Name |
Mr. Yang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.56 |
|
UK Pound |
1 |
Rs.93.56 |
|
Euro |
1 |
Rs.67.49 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
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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 |
|
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 |
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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.