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Report No. : |
337751 |
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Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
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Name : |
GET KAUNG ENTERPRISE CO., LTD. |
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Registered Office : |
No.58-2,Shih Cheng St., Shigang Dist.,
Taichung City 422 |
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Country : |
Taiwan |
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Date of Incorporation : |
23.02.1973 |
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Com. Reg. No.: |
55771446 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in manufacturing and sales of metal products |
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No. of Employee : |
About 30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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. 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.
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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.58-2,Shih Cheng St., Shigang Dist.,
Taichung City 422, Taiwan (R.O.C.) |
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Supplied Address: |
58-2, Shih Cheng St., Shin Kang Tsun Shih
Kang Hsiang Taichung City |
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Telephone Number: |
+886-4-2572-1122 |
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Fax Number: |
Notes: The exact name and address are as above.
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Registered Name: |
GET KAUNG ENTERPRISE CO., LTD. |
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Registered Address: |
No.58-2,Shih Cheng St., Shigang Dist., Taichung City 422, Taiwan
(R.O.C.) |
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Date of Foundation: |
1973-2-23 |
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Registration Number: |
55771446 |
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Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2015.08, 1 NTD = 0.032 USD) |
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Paid-up Capital: |
NTD 5,000,000 (USD 160,000) |
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Legal Representatives: |
Junjie Zhan |
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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 1973-2-23 with registered
number 55771446 as P Joint Stock
Company in Taiwan.
Factory
|
Address: |
1F, No. 7, Lane
132, Sec 1, Tian Xin Road, Dong Shi Li, Fengyuan District, Tai Chung City,
Taiwan |
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Date of
Registration: |
2013-9-12 |
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Factory
Registration Number: |
66002161 |
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Factory Manager: |
Junjie Zhan |
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Status: |
In production |
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Date of Last Annual Return: |
2013-9-12 |
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Major Products: |
253 metal
container |
Major Shareholders
|
Name |
Subscription Shares |
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Junjie Zhan |
200 |
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Yichang Zhan |
50 |
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Jiaqing Ou |
100 |
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Rongyi Zhan |
100 |
Core Management
Directors
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1 |
||
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Name |
Junjie Zhan |
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Position |
Board Chairman |
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2 |
||
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Name |
Yichang Zhan |
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Position |
Director |
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3 |
||
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Name |
Jiaqing Ou |
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Position |
Director |
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4 |
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Name |
Rongyi Zhan |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 30 Employees |
Offices &
Factories
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|
Headquarters |
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Add |
No.58-2,Shih Cheng St., Shigang Dist., Taichung City 422, Taiwan
(R.O.C.) |
Production Information
l
Subject is engaged in manufacturing of metal products and etc.
l
Subject has a factory in Taiwan for production.
Purchase Information
l
The registered activities of subject:
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|
Details |
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1 |
Manufacturing, processing and trading of forest
products. |
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2 |
Manufacturing, processing and trading of metal
materials (stainless steel water tower, hydraulics equipment, related equipment
of stainless steel water tower) |
|
3 |
Standing timber, transportation processing and
trading. |
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4 |
Importing and exporting business of related items |
l
Subject purchases its raw materials and etc both at
home and abroad.
l Subject is engaged
in sale of metal products and etc.
l
The major products include stainless steel deep
drawing products, deep drawing presses products, metal deep drawing products,
hydraulic deep drawn products, metal stamping products, metal forming products,
metal welding products, metal cutting products, metal bending products, metal
punching products, stainless steel hydroforming products, press forming
products, hydraulic press mould, stainless steel water tank, solar water tank
and etc.
l
Subject’s sales regions include Asia, Europe,
America and etc.
l
Subject’s major customers are manufacturers,
designers and traders of hydraulic equipment and etc.
l
It is introduced that subject can provide OEM
services.
l
It is introduce that above 85% of subject’s
products are exported to the overseas market.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials and etc |
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Payment Terms |
Cash, T/T and etc |
2.
Import
|
Products |
Raw materials and etc |
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Payment Terms |
Cash, T/T and etc |
Sales
1.
Domestic Markets
|
Product |
Metal products and etc. |
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Selling Terms |
Cash, T/T and etc |
2.
Export
|
Product |
Metal products and etc. |
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Selling Terms |
Cash, T/T and etc |
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 Ms. Ou 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
|
Name |
Ms. Ou |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.71 |
|
|
1 |
Rs.105.10 |
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Euro |
1 |
Rs.77.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
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Report Prepared
by : |
ASH |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.