|
Report No. : |
337075 |
|
Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
VOLUNTEER ENTERPRISE CO., LTD. |
|
|
|
|
Registered Office : |
Fl. 11-1, No.436, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
02.07.1977 |
|
|
|
|
Com. Reg. No.: |
07604639 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of
Textiles. |
|
|
|
|
No. of Employees : |
About 80 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Taiwan |
A1 |
A1 |
|
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. 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, follow-on components of the ECFA, including a signed agreement on trade in services and negotiations on trade in goods and dispute resolution, have stalled. In early 2014, the government bowed to public demand and proposed 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 nearly 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 fifth largest, behind those of China, Japan, Saudi Arabia, 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, the Taiwan Central Bank signed a memorandum of understanding (MOU) 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 Taiwan’s 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 decent entry-level jobs.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2552-3051 |
|
Fax Number: |
+886-2-2552-6600 |
|
E-mail: |
Notes: Subject’s
exact name and address are as above.
Subject was
incorporated on
Factory
|
Name: |
Taoyuan Factory |
|
Address: |
No.9 Hsinglong Road, Taoyuan City, Taiwan |
|
Date of Foundation: |
1969-11-1 |
|
Date of Registration: |
1970-10-1 |
|
Factory Registration Number: |
99621276 |
|
Factory Manager: |
Muxiong Liu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-4-18 |
|
Major Products: |
111 spinning 114 dyeing and finishing |
Related Company
|
Name: |
Shanghai Jun Yang Chemical Fiber Co., Ltd. (Literal
Translation) |
|
Address: |
No.107 Tanyao Road, Huating Town, Jiading District,
Shanghai City, China |
|
Telephone Number: |
+86-21-5995-1775/ 5995-1376 |
|
Fax Number: |
+86-21-5995-0775 |
|
Date of Foundation: |
1998-9-23 |
|
Registration Number: |
310000400203309 |
|
Registry: |
Shanghai Industry and Commerce Bureau, Jiading Suboffice |
|
Registered Capital: |
USD 1,200,000 |
|
Legal Representatives: |
Wenyan Lv |
Major Shareholders
|
Name |
Subscription Shares |
|
Muxiong Liu |
3,406,000 |
Directors
|
1 |
|
|
Name |
Muxiong Liu |
|
Position |
Board Chairman & Manager |
|
Appointment Date of Manager |
1977-6-9 |
|
2 |
|
|
Name |
Bi-E Lv |
|
Position |
Director |
|
3 |
|
|
Name |
Bizhao Lv |
|
Position |
Director |
|
4 |
|
|
Name |
Wenyan Lv |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 80 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
Subject is engaged in manufacturing of textiles.
Subject has a factory in Taiwan for production. It is
introduced that subject’s related company has a factory in Shanghai City, the
mainland of China
Purchase Information
The registered activities of subject:
|
|
Details |
|
1 |
Manufacture, processing and sales of all sorts of cotton
tapes, silk tapes, elastic band and shoelace. |
|
2 |
Manufacture, bleaching and dyeing processing and sales of all
sorts of textiles such as cotton, silk, nylon yarn, etc |
|
3 |
Manufacture and sales of components of knitting machines. |
|
4 |
Import and export trading business. |
|
5 |
Agent involved in Sales, price quoting service, bidding service
and investment about the above mentioned items for both domestic and overseas
market. |
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 include NYLON STRETCH YARN, POLYESTER RAW
WHITE YARN, POLYESTER DYED YARN, POLYESTER YARN DYED ON CONIC PAPER CONE,
POLYESTER YARN DYED BI PLASTIC CONE.
Subject’s sales regions include Bangladesh, Pakistan, United
Arab Emirates, Philippines, Malawi, Mexico, El Salvador, New Zealand, Mainland
China, Hong Kong, Republic Of Korea, Taiwan, ROC, Viet Nam, Israel, Iraq,
Jordan, Syrian Arab Republic, Yemen, Brazil, Sri Lanka, Saudi Arabia, Lebanon,
Africa and etc.
Subject’s major customers are manufacturers of fabric.
It is introduced that subject had its own brands "SHINYLON" and "ALL BEAUTY".
It is introduced that subject has
many customers such as Hilos Y Textiles, S.A. De C.V.
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 |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Textile products |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Textile products |
|
Selling Terms |
L/C, T/T |
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.
|
Name |
ICBC Bank |
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
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.23 |
|
|
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.