|
Report No. : |
309526 |
|
Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
MIRACLE JEWELLERY SHOP |
|
|
|
|
Registered Office : |
5F., No.183, Sec. 4, Zhongxiao E. Rd., Da-An Dist., Taipei City 10690 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
10.03.2005 |
|
|
|
|
Com. Reg. No.: |
21505879 |
|
|
|
|
Legal Form : |
Proprietorship |
|
|
|
|
Line of business : |
Trading of Jewelry; Products Include Golden Jewelry, Diamond Jewelry, Diamonds, Gems, Jewelry with Gems and so on. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
4F, No. 23, Lane 24, ,Guangfu South Road, Da'an District, Taipei 10693,
Taiwan |
|
Supplied Address: |
4 TH FLOOR, NO-23 LANE -240 , GAUNG FU SOUTH ROAD, TAAN DISTRICT
TAIPEI-10694, TAIWAN-ROC |
|
Telephone Number: |
+886-2-2778-0910 |
|
Fax Number: |
Notes: The exact name and address are as above.
|
Registered Name: |
Miracle Jewellery
Shop |
|
Registered
Address: |
5F., No.183, Sec.
4, Zhongxiao E. Rd., Da-An Dist., Taipei City 10690, Taiwan |
|
Date of
Foundation: |
2005-3-10 |
|
Business
Registration No.: |
21505879 |
|
Registry: |
Taipei City Office
of Commerce |
|
Registered
Capital: |
(As of 2015.01, 1
NTD = 0.031USD) |
|
Legal
Representatives: |
Zhongwei Lin |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Notes: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
Subject was incorporated on 2005-3-10 with registered number 21505879 as Proprietorship in Taiwan.
Shop
|
Address |
No.70, Zhongzheng Rd., Zhongli City, Taoyuan County, Taiwan (R.O.C.) |
|
Tel |
+886-3-4225577 |
|
Fax |
+886-3-4272476 |
|
Name |
Zhongwei Lin |
|
Position |
Owner |
Offices &
Factories
|
|
Headquarters |
|
Add |
4F, No. 23, Lane 24, ,Guangfu South Road, Da'an District, Taipei 10693, Taiwan |
Production
Information
· Subject is a trader of jewelry and etc without any production activities
· Subject has cooperative factories in Taiwan for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F215010 |
Retails of jewelry and precious metal. |
|
CG01010 |
Manufacturing of jewelry and precious metal. |
|
F399040 |
Retails without stores. |
|
F401010 |
International trading business. |
· It is introduced that subject purchases its products both at home and abroad.
· It is introduced that subject imports some diamonds from India.
· Subject is engaged in sale of jewelry and etc
· The major products include golden jewelry, diamond jewelry, diamonds, gems, jewelry with gems and so on.
· Subject’s sales regions are mainly in Taiwan domestic market.
· Subject’s major customers are direct customers and etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
PURCHASE
Domestic Purchase
|
Products |
Jewelry and etc |
|
Payment Terms |
Cash, T/T and etc |
Import
|
Products |
Jewelry and etc |
|
Payment Terms |
T/T and etc |
SALES
Domestic Markets
|
Product |
Jewelry and etc |
|
Selling Terms |
Cash, T/T and etc |
Export
The subject has
little export.
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 Mr. Lin 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 |
|
Department |
Sales Department |
|
E-mail |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some
medium and large diamond traders which are usually engaged in fictitious import
– export, inter-company transactions, financially assisted by banks. In the
process, several public sector banks lost several hundred million rupees. They
mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.96.21 |
|
Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.