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Report No. : |
351917 |
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Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
4Fl-1, No.161, Sec.4, Nanking E. Rd., Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
13.06.1978 |
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Com. Reg. No.: |
12176448 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of machinery and components. |
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No. of Employee : |
About 25 Employees |
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 : |
Slow but correct |
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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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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: |
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Supplied Address: |
ROOM NO.4-1 4TH FOOR,NO.161,SEC 4, NANKING
EAST EST ROAD, TAIPEI, TAIWAN, ROC |
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Telephone Number: |
+886-2-2546-6120/ 2546-6097 |
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Fax Number: |
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E-mail: |
Note: The exact name and address are as above.
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Registered Name: |
Gran Brothers Company Ltd. |
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Registered Address: |
4Fl-1, No.161, Sec.4, Nanking E. Rd.,
Taipei, Taiwan |
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Date of Foundation: |
1978-6-13 |
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Registration Number: |
12176448 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2015.12, 1 NTD = 0.0304 USD) |
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Legal Representatives: |
Meihui Liu |
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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 1978-6-13 with registered number 12176448
as Private Limited Liability Company
in Taiwan.
Offices
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1 |
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Name: |
Guangzhou Office |
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Address: |
Room 701, 7/F., No.37, Yong-an Yue Road, Renmin North Street,
Guangzhou City, Guangdong Province, China |
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Telephone Number: |
+86-20-8358-5085 |
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Fax Number: |
+86-20-8357-6727 |
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2 |
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Name: |
Shanghai Office |
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Address: |
Room 3102, No. 28, Lane 338, Fu-rong Jiang Rd., Changning Dist.,
Shanghai, China |
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Telephone Number: |
+86-21-6233-0928 |
Major Shareholders
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Name |
Subscription Amount |
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Meihui Liu |
7,000,000 |
Core Management
Directors
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Name |
Meihui Liu |
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Position |
Director |
Personnel
Structure
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Total Employees |
About 25 employees |
Offices &
Factories
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Headquarters |
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Add |
Production
Information
Subject is a trader of machinery
and components, etc. without any production activities
Purchase Information
The registered activities of subject:
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1 |
Import and export products (besides licensed business) |
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2 |
Import, export, sales and maintenance of automatic machine and
components |
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3 |
As agent assists in quoting, bidding and distributing about home and
abroad products |
Subject’s products are purchased from both home and abroad.
It is introduced that ancillary equipment of plastic industry sold by
the subject are mostly purchased from abroad, and its major suppliers are
Matcon Group Ltd (UK) and “Colortronic” (USA
Subject is engaged in sale of machinery and components
The major products sold by the subject are zipper related products, such
as zippers, zipper machines, whole plant of zipper making machinery and bulk
material handling equipment
Subject is the agent of Color-Tronic, K-TRON and MATCON in Taiwan.
Subject’s sales regions include Taiwan, Mainland China, Europe and
America
Subject’s major customers are Cierres Best De Mexico S.A. De C.V.
(Mexico), Industrias Yidi S.A.
and 3.Dunlap Industries Inc (USA
Major products
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Products |
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Zipper |
Metal zipper, polyester zipper, plastic
zipper, invisible zipper |
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Slider |
For metal/ polyester/ plastic/ invisible
zipper |
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Zipper Machines |
Metal/ polyester/ plastic zipper making
machine, all kinds of slider making machines, dyeing machine |
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Raw Materials For Zipper Making |
Monofilament, Sewing Thread, Polyestrer
Yarn, bead cord |
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Needle Loom |
Computerized narrow fabric weaving machine Jacqard needle loom Crochet knitting machine Braiding machine |
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Other machines |
Button Fastening Machine, Cord Knitting Machine,
Puller Injection Machine, Laser Grinding Machine For Polyester Button,
Stainless Steel Finishing Machine, Marble Finishing Machine, Polyester/Nylon
Monofilament Making Equipment, Lingerie Hook And Eye Machine |
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Garment Accessories & PVC Products |
Hook & Loop, PVC Sheet For Raincoat And
Table Cloth, lace, snap Button, plastic Buckles cap/Hat |
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
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Products |
Machinery and components |
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Payment Terms |
T/T, Cash |
Import
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Products |
Machinery and components |
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Payment Terms |
L/C, T/T |
Sales
Domestic Markets
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Product |
Machinery and components |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
Machinery and components |
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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.
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
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Name |
Ms. Liu |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.81 |
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1 |
Rs.100.367 |
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Euro |
1 |
Rs.70.68 |
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TWD |
1 |
Rs.2.03 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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TRI |
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Report Prepared
by : |
ANK |
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.