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Report No. : |
338121 |
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Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SHING LUEN COMPANY LTD. |
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Registered Office : |
1F, No.405, Chung Hwa Rd., Wuri Dist.,
Taichung City 414, Taiwan R.O.C. |
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Country : |
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Date of Incorporation : |
13.05.1986 |
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Com. Reg. No.: |
22128086 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Sale of Polishing
Materials |
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No. of Employees : |
About 30 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Taiwan |
A1 |
A1 |
|
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: |
1F, No.405,
Chung Hwa Rd., Wuri Dist., Taichung City 414, Taiwan R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-4-2337-7430 |
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Fax Number: |
Notes: The exact address is as above.
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Registered Name: |
Shing Luen Company Ltd. |
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Registered Address: |
1F, No.405, Chung Hwa Rd., Wuri Dist.,
Taichung City 414, Taiwan R.O.C. |
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Date of Foundation: |
1986-5-13 |
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Registration Number: |
22128086 |
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Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2015.8, 1 NTD = 0.0320 USD) |
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Legal Representatives: |
Caiqin 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: |
Subject was incorporated
on 1986-5-13 with registered number 22128086 as Private Limited Liability
Company in Taiwan.
Related Company
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Name |
Sheng Lun Polishing Materials Co., Ltd. |
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Address |
Tianxin Industrial Park, Tangxia Town, Dongguan City, Guangdong
Province, China |
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Tel |
+86-769-8792-7662 |
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Fax |
+86-769-8792-1587 |
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Principal Activities: |
Sale of polishing materials, etc. |
Major Shareholders
|
Name |
Subscription Amount |
|
Caiqin Wu |
4,000,000 |
Core Management
Directors
|
Name |
Caiqin Wu |
|
Position |
Director |
Personnel Structure
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Total Employees |
About 30 Employees |
Offices & Factories
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Headquarters |
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Add |
1F, No.405, Chung Hwa Rd., Wuri Dist., Taichung City 414, Taiwan R.O.C. |
Production Information
Subject is engaged in manufacturing of polishing materials, etc.
It is introduced that subject has a factory in Taichung City, Taiwan for
production.
It is introduced that subject’s related company has a processing factory
in the Mainland of China.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
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F206010 |
Hardware retail business |
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F206020 |
Supplies retail business |
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F207030 |
Cleaning supplies retail |
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F213080 |
Mechanical equipment retail |
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F203010 |
Foodstuff, beverage retail |
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F213010 |
Electrical appliance retailing |
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F401010 |
The international trade |
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F106010 |
Hardware wholesale |
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F106020 |
Supplies wholesale |
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F107030 |
Cleaning supplies wholesale |
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F102040 |
Beverage wholesaling |
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F102170 |
Foodstuff wholesale trade |
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F113010 |
Mechanical wholesaling |
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F113020 |
Electrical wholesaling |
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E601020 |
The electrical installation industry |
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JA02010 |
The repair electrical and electronic products |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The components and raw materials for production are mainly purchased in
domestic market.
Subject is engaged in sale of polishing
materials, etc.
The major products sold by the subject are hand pads, nylon sheets,
nylon wheel, polishing wheel, etc.
Subject’s sales regions include domestic market and abroad.
It is introduced that subject can provide custom services for its
customers.
Subject’s major customers are manufacturers of hardware, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
PURCHASE
Domestic Purchase
|
Products |
Components and raw materials |
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Payment Terms |
T/T, Cash, etc. |
Import
Subject has little import.
Domestic Markets
|
Product |
Polishing materials, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Polishing materials, etc. |
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Selling Terms |
L/C, T/T, 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 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 |
Mr. Lin |
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Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.16 |
|
|
1 |
Rs.103.88 |
|
Euro |
1 |
Rs.75.89 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
NIT |
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 |
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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 |
-- |
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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.