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Report Date : |
01.01.2015 |
IDENTIFICATION DETAILS
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Name : |
VOLUNTEER ENTERPRISE CO., LTD. |
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Registered Office : |
Floor 11-1, No.436, Nanking West Road, Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
02.07.1977 |
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Com. Reg. No.: |
07604639 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and trading of textile products |
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No. of Employee : |
About 80 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 : |
No complaints |
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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Taiwan |
A2 |
A2 |
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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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Supplied Name: |
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Trading Address: |
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Supplied
Address: |
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Telephone
Number: |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact
name and address are as above.
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Registered Name: |
VOLUNTEER
ENTERPRISE CO., LTD. |
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Registered Address: |
Floor 11-1,
No.436, Nanking West Road, Taipei, Taiwan |
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Date of
Foundation: |
1977-7-2 |
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Registration
Number: |
07604639 |
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Registry: |
Taipei City
Government |
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Registered
Capital: |
NTD 60,000,000
(USD 1,986,000) (As of 2014.12, 1
NTD = 0.0331 USD) |
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Paid-up Capital: |
NTD 60,000,000
(USD 1,986,000) |
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Legal
Representatives: |
Muxiong 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
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Name: |
Taoyuan Factory |
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Address: |
No.9 Hsinglong Road, Taoyuan City, Taiwan |
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Date of
Foundation: |
1969-11-1 |
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Date of
Registration: |
1970-10-1 |
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Factory
Registration Number: |
99621276 |
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Factory Manager: |
Muxiong Liu |
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Status: |
In Production |
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Date of Last Annual
Return: |
2013-4-18 |
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Major Products: |
111 spinning 114 dyeing and finishing |
Related Company
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Name: |
Shanghai Jun Yang Chemical Fiber Co., Ltd.
(Literal Translation) |
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Address: |
No.107 Tanyao Road, Huating Town, Jiading
District, Shanghai City, China |
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Telephone Number: |
+86-21-5995-1775/
5995-1376 |
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Fax Number: |
+86-21-5995-0775 |
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Date of Foundation: |
1998-9-23 |
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Registration Number: |
310000400203309 |
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Registry: |
Shanghai Industry and Commerce Bureau, Jiading
Suboffice |
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Registered Capital: |
USD 1,200,000 |
|
Legal Representatives: |
Wenyan Lv |
|
Name |
Subscription Shares |
|
Muxiong
Liu |
3,406,000 |
Core Management
|
1 |
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Name |
Muxiong Liu |
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Position |
Board Chairman & Manager |
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Appointment Date of Manager |
1977-6-9 |
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2 |
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Name |
Bi-E Lv |
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Position |
Director |
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3 |
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Name |
Bizhao Lv |
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Position |
Director |
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4 |
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Name |
Wenyan Lv |
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Position |
Supervisor |
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Total Employees |
About 80 Employees |
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Headquarters |
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Add |
Production Information
l Subject is engaged
in manufacturing of textile products, etc.
l Subject has a
factory in Taiwan and a related company in Mainland China for production.
Purchase Information
l The registered
activities of subject:
|
1 |
Manufacture,
processing and sales of all sorts of cotton tapes, silk tapes, elastic band and
shoelace, etc. |
|
2 |
Manufacture,
bleaching and dyeing processing and sales of all sorts of textiles such as
cotton, silk, nylon yarn, etc |
|
3 |
Manufacture
and sales of components of knitting machines. |
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4 |
Import
and export trading business. |
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5 |
Agent
involved in Sales, price quoting service, bidding service and investment
about the above mentioned items for both domestic and overseas market. |
l The raw materials for production are purchased from both home and abroad.
Sales
Information
l Subject is engaged in trading of textile products, etc.
l Subject’s major products include nylon stretch yarn, polyester raw white
yarn, polyester
dyed yarn, etc.
l It is introduced that subject has its own brands "SHINYLON" and
"ALL BEAUTY".
l Subject’s sales regions include Asia, Europe and America, etc.
l One of subject’s major customers is Hilos Y Textiles, S.A. De C.V., etc.
1.
Domestic Purchase
|
Products |
Raw materials,
etc |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Raw materials,
etc |
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Payment Terms |
T/T, etc. |
Sales
1.
Domestic Markets
|
Product |
Textile
products, etc |
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Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Textile
products, 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 declined
to disclose its financial information citing the grounds of company’s
confidentiality, and from other source we cannot obtain the relevant
information, either.
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Name |
ICBC 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.
|
Name |
Mr. Lv |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.33 |
|
|
1 |
Rs.98.58 |
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Euro |
1 |
Rs.77.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
SDA |
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 |
-- |
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.