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Report No. : |
307222 |
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Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
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Name : |
MY SUNSHINE INTERNATIONAL CO., LTD. |
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Formerly Known As : |
SPICES HOUSE INTERNATIONAL CO., LTD. |
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Registered Office : |
No. 36-1, Yan Cuo Lane, Hai Bu Li, Lu Gang Zhen, Changhua Hsien, Taiwan, R.O.C. |
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Country : |
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Date of Incorporation : |
02.03.2001 |
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Com. Reg. No.: |
12757727 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Cosmetic. |
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No. of Employees : |
About 10 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Taiwan |
A2 |
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, 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: |
15F-5 No 16, Sec 2, Taiwan Blvd, West
District Taichung City, Taiwan (R.O.C) |
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Supplied Address: |
15F-5 No 16 Sec 2 Taiwan Blvd West
District Taichung City 403 |
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Telephone Number: |
+886-4-2203-0966 |
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Fax Number: |
Note: The exact name, address and contact
information are as above.
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Registered Name: |
My Sunshine International Co., Ltd. |
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Registered Address: |
No. 36-1, Yan Cuo Lane, Hai Bu Li, Lu Gang
Zhen, Changhua Hsien, Taiwan, R.O.C. |
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Date of Foundation: |
2001-3-2 |
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Registration Number: |
12757727 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2015.2, 1 NTD = 0.0317 USD) |
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Legal Representatives: |
Tianfu Zhang |
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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: |
Note: Subject declined to
disclose its staff number; we obtained the relevant information from public
files.
Subject was incorporated
on 2001-3-2 with registered number 12757727
as Private Limited Liability Company in Taiwan.
Change of Name
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Former English Name: |
Spices House International Co., Ltd. |
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Current English Name: |
My Sunshine International Co., Ltd. |
Subject did not introduce any subsidiaries or branches; from other
source we could not obtain the relevant information, either.
Major Shareholder
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Name |
Subscription Amount |
|
Tianfu Zhang |
150,000 |
Core Management
Director
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Name |
Tianfu Zhang |
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Position |
Director |
Personnel Structure
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Total Employees |
About 10 employees |
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Headquarters |
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Add |
15F-5 No 16, Sec
2, Taiwan Blvd, West District Taichung City, Taiwan (R.O.C) |
Production Information
Subject is a trader of cosmetic,
etc. without any production activities.
It is introduced that subject has a related factory in Shanghai of the
mainland of China for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
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F401010 |
International trade business |
Subject’s products are mostly purchased in domestic market.
Subject is engaged in sale of cosmetic, etc.
Subject’s major products are toner, emulsion, lipstick, lip gloss, eye
shadow, foundation, etc.
It is introduced that subject can provide OEM service.
Subject’s sales regions include Southeast Asia, Middle East and USA,
etc.
Subject’s major customers are trade
companies, wholesalers and retailers of cosmetic, etc.
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 |
Cosmetic |
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Payment Terms |
T/T, Interior |
Import
Subject has little import.
Sales
Domestic Markets
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Product |
Cosmetic |
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Selling Terms |
T/T, Cash |
Export
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Product |
Cosmetic |
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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 |
Mr. Zhang |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.43 |
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|
1 |
Rs.95.02 |
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Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.