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Report No. : |
352079 |
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Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SUN FAVORITE CO., LTD. |
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Registered Office : |
20F., No.3, Sec. 1, Minsheng Rd., Banqiao
Dist., New Taipei City 220, (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
28.10.1996 |
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Com. Reg. No.: |
97249941 |
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Legal Form : |
Joint Stock Company |
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|
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Line of Business : |
Trading of Papers, Paper Machines and Wines. |
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No. of Employees : |
About 30 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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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. 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: |
20F., No.3, Sec.
1, Minsheng Rd., Banqiao Dist., New Taipei City 220, Taiwan (R.O.C.) |
|
Supplied Address: |
20F, NO.3
MIN-SHENG RD SEC.1, PANCHIAO CITY, TAIPEI HSIEN, TAIWAN |
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Telephone Number: |
+886-2-2959-9788 |
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Fax Number: |
+886-2-2959-9777 |
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E-mail: |
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Website: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1996-10-28 with registered number 97249941
as Joint Stock Company in Taiwan.
Change of Name
|
Former Chinese Name: |
山發國際股份有限公司 |
|
Current Chinese Name: |
山富貿易股份有限公司 |
Branch
|
Name |
Zhongshan Branch |
|
Address |
1/F., No.14, Lane 39, Sec 2, Zhongshan North Road, Zhongshan District,
Taipei City, Taiwan |
|
Registration Number |
53713962 |
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Date of Registration |
2012-6-28 |
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Status |
Live |
|
Manager Name |
Lide Zhou |
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Date of Last Annual Return |
2014-9-22 |
Major Shareholders
|
Name |
Subscription Shares |
|
Juanjuan Lu |
1,000,000 |
|
Qiaoyun Zheng |
3,000,000 |
|
Shuyun Zheng |
2,000,000 |
|
Renming Zheng |
1,425,000 |
|
Ran Yun Co., Ltd. |
60,000 |
Shareholder Information:
|
Registered Name: |
Ran Yun Co., Ltd. |
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Registered Address: |
26F., No.33, Sec. 1, Minsheng Rd., Banqiao
Dist., New Taipei City, Taiwan (R.O.C.) |
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Date of Foundation: |
1994-7-6 |
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Registration Number: |
84993215 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
NTD 30,000,000 |
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Paid-up Capital: |
NTD 30,000,000 |
|
Legal Representatives: |
Zhenglong Zheng |
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Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2014-8-28 |
Core Management
Directors
|
1 |
||
|
Name |
Juanjuan Lu |
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Position |
Board Chairman |
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2 |
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Name |
Qiaoyun Zheng |
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Position |
Executive Director |
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3 |
||
|
Name |
Shuyun Zheng |
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Position |
Executive Director |
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4 |
||
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Name |
Renming Zheng |
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Position |
||
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5 |
||
|
Name |
Ai’Ling Qi |
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Position |
Director |
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6 |
||
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Name |
Qinghui You |
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Position |
Director |
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7 |
||
|
Name |
Qiong’E Lan |
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Position |
Director |
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8 |
||
|
Name |
Qilei Guo |
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Position |
Director |
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9 |
||
|
Name |
Lide Zhou |
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Position |
Director |
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|
10 |
||
|
Name |
Dongliang Lai |
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Position |
Director |
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11 |
||
|
Name |
A’Song Yang |
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Position |
Supervisor |
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12 |
||
|
Name |
Lide Zhou |
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Position |
Manager |
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Date of Appointment |
2007-5-25 |
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Personnel Structure
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Total Employees |
About 30 Employees |
Offices & Factories
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Headquarters |
|
Add |
20F., No.3, Sec. 1, Minsheng Rd., Banqiao Dist., New Taipei City 220,
Taiwan (R.O.C.) |
Production Information
Subject is a trader of papers,
paper machines and wines, etc without any production activities.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F102030 |
Wholesale of alcohol and tobacco |
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F203020 |
Retail of alcohol and tobacco |
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F109070 |
Wholesale of stationery, music instrument, recreational supplies |
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F209060 |
Retail of stationery, music instrument, recreational supplies |
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F113030 |
Wholesale of precise instrument |
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F213040 |
Retail of precise instrument |
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F106010 |
Wholesale of hardware |
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F206010 |
Retail of hardware |
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F107010 |
Wholesale of paint and coating |
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F207010 |
Retail of paint and coating |
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F107020 |
Wholesale of dye and pigment |
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F207020 |
Retail of dye and pigment |
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F113050 |
Wholesale of computer and office equipment |
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F213030 |
Retail of computer and office equipment |
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F114030 |
Wholesale of automobile and haulage motor’s components |
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F214030 |
Retail of automobile and haulage motor’s components |
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F113020 |
Wholesale of electric appliance |
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F213010 |
Retail of electric appliance |
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F107200 |
Wholesale of chemicals |
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F207200 |
Retail of chemicals |
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F102040 |
Wholesale of beverage |
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F203010 |
Retail of grocery and beverage |
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F102170 |
Wholesale of grocery |
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F101050 |
Retail of aquatic product |
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F106050 |
Wholesale of glass-ceramic ware |
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F105050 |
Wholesale of furniture, beddings, kitchen utensils, decorations |
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F205040 |
Retail of furniture, beddings, kitchen utensils, decorations |
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F201030 |
Retail of aquatic product |
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F113010 |
Wholesale of machinery |
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F213080 |
Retail of mechanical appliance |
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F111090 |
Wholesale of building materials |
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F211010 |
Retail of building materials |
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F118010 |
Wholesale of software |
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F218010 |
Retail of software |
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F401010 |
International trade business |
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E801010 |
Interior decoration |
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E801020 |
Doors and windows installation |
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E801030 |
Interior steel frame engineering |
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H701010 |
Development and leasing of resident and building |
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H701020 |
Development of industrial factory building |
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H701040 |
Development of specific professional area |
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I301010 |
Software service |
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I503010 |
Landscape and interior design |
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E604010 |
Machines installation |
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E605010 |
Computer installation |
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F401171 |
Import of alcohol |
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F112040 |
Wholesale of petroleum product |
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F212050 |
Retail of petroleum product |
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JE01010 |
Leasing industry |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject purchases its products both at home and abroad.
It is introduced that subject imports its paper machine from Europe,
such as Finland and etc.
It is introduced that subject imports its wine from UK, USA, Chile,
Italy, Finance and etc.
Subject is engaged in sale of papers, paper machines and wines, etc.
The major products include fine paper, industrial paper, tissue paper,
newsprint, sack kraft liner board, coated paper, fancy paper, whisky, wine, paper
machines, raw materials for paper industry, etc
It is introduced that subject’s major products for exporting is fine
paper, industrial paper, tissue paper, newsprint, sack kraft liner board,
coated paper, fancy paper and etc.
It is introduced that subject’s major imported products are paper
machines, raw materials for paper industry, premium and single malt whisky.
Subject’s sales regions include Asia, Europe and America, etc. It is
introduced that subject has cooperative liquor stores almost covers all over
Taiwan.
Subject’s major customers are liquor stores, bars, club, restaurant,
printing industry, paper making industry and etc.
It is introduced that subject is selling the paper machine with the
brand Metso Oyj from Finland.
It is introduced that subject is selling liquor with brands such as
Georg Rafael, Stonehedge, Blackadder, Kilchoman, Ciacci Piccolomini d’Argona,
Alicant and etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Paper and etc |
|
Payment Terms |
Cash, T/T and etc |
Import
|
Products |
Paper machine and wine |
|
Payment Terms |
L/C, T/T, etc |
Sales
Domestic Markets
|
Product |
Paper machine and wine |
|
Selling Terms |
Cash, T/T and etc |
Export
|
Product |
Paper and etc |
|
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
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.52 |
|
|
1 |
Rs.100.44 |
|
Euro |
1 |
Rs.70.44 |
|
TWD |
1 |
Rs.2.04 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
NIT |
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.