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Report No. : |
306999 |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
NEW BRITE INDUSTRIES INC. |
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Registered Office : |
11F.-9, No.26, Sec. 2, Minquan E. Rd., Zhongshan Dist., Taipei City 10469 |
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Country : |
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Date of Incorporation : |
30.01.2003 |
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Com. Reg. No.: |
80159213 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Fibers. |
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No. of Employees : |
About 10 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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, and 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. Negotiations continue on follow-on
components of ECFA regarding trade in goods and a dispute resolution mechanism;
a trade in services agreement is under review in the legislature. 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 accounting for 11.2% of the island's total population
as of 2012. The island runs a large overall trade surplus largely because of
its surplus with China, and its foreign reserves are the world's sixth largest,
behind China, Japan, Saudi Arabia, Russia, 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, Taiwan Central Bank signed a memorandum of
understanding 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 could help develop Taiwan into a local RMB hub.
Closer economic links with the mainland bring greater opportunities for the
Taiwan economy, but also poses new challenges as the island becomes more
economically dependent on China while political differences remain unresolved.
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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: |
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Telephone Number: |
+886-2-8780-8839 |
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Fax Number: |
Notes: The exact name and address are as above.
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Registered Name: |
New Brite Industries Inc. |
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Registered Address: |
11F.-9, No.26, Sec. 2, Minquan E. Rd.,
Zhongshan Dist., Taipei City 10469, Taiwan (R.O.C.) |
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Date of Foundation: |
2003-1-30 |
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Registration Number: |
80159213 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 90,000,000
(USD 2,790,000) (As of 2015.02, 1 NTD = 0.0310 USD) |
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Legal Representatives: |
Jingying Lu |
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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 2003-1-30 with registered number 80159213
as Private Limited Liability Company in Taiwan.
Major Related
Company
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Registered Name: |
New Site Industries., Inc. |
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Registered Address: |
16/F., No.456, Sec. 4, Sin Yi Road, Taipei
City, Taiwan |
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Date of Foundation: |
2002-7-9 |
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Registration Number: |
13137009 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 280,000,000 (USD 8,680,000) (As of 2015.02, 1 NTD = 0.0310 USD) |
|
Legal Representatives: |
Yanting Zhu |
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Legal Form: |
Private Limited Liability Company |
Major Shareholders
|
Name |
Subscription Amount |
|
Jingying Lu |
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|
90,000,000 |
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Core Management
|
Name |
Jingying Lu |
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Position |
Director |
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Headquarters |
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Add |
Production
Information
Subject is a trader of fibers,
etc. without any production activities.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
F401010 |
International trade business |
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F101070 |
Wholesale of fishing gear |
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F102010 |
Wholesale of frozen food |
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F102020 |
Wholesale of edible oil |
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F102050 |
Wholesale of tea |
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F104010 |
Wholesale of textile |
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F104020 |
Wholesale of garment |
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F104030 |
Wholesale of shoes |
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F104040 |
Wholesale of leather bag, hand bag and suite case |
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F104050 |
Wholesale of garment accessories |
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F104070 |
Wholesale of paper diaper |
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F105020 |
Wholesale of upholstery and home textile |
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F107020 |
Wholesale of dye and pigment |
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F111010 |
Wholesale of timber |
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F113010 |
Wholesale of machinery |
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I503010 |
Landscape and Interior design |
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I501010 |
Product design |
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E801010 |
Interior decorating business |
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E801030 |
Interior light steel frame engineering |
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E201010 |
Landscape engineering |
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F101020 |
Wholesale of vegetable |
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F101030 |
Wholesale of fruit |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
·
Subject
purchases products mainly in domestic market.
Subject’s major suppliers are Nan Ya Plastics Corp, Formosa Taffeta and
so on.
·
Subject
is engaged in sale of fibers, etc.
Subject’s major products include polyester yarn, nylon yarn, elastic
yarn, synthetic fiber, chip, yarn and so on.
Subject’s sales regions include Asia, Europe and America, etc.
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
PURCHASE
Domestic Purchase
|
Products |
Fibers, etc. |
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Payment Terms |
Cash, T/T, etc. |
Import
Subject has little import.
SALES
Domestic Markets
|
Product |
Fibers, etc. |
|
Selling Terms |
Cash, T/T, etc. |
Export
|
Product |
Fibers, 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.
|
Name: |
Mega International Commercial 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
|
Name |
Ms. Lin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.72 |
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Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.