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Report No. : |
330010 |
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Report Date : |
06.07.2015 |
IDENTIFICATION DETAILS
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Name : |
JING KENG INTERNATIONAL LIMITED |
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Registered Office : |
NO.1, LN. 160, SEC. 2, Tanfu RD., Tanzi
Dist., Taichung City 42748 |
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Country : |
Taiwan |
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Date of Incorporation : |
09.05.2014 |
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Com. Reg. No.: |
54765994 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and trading of fitness
equipment. |
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No. of Employee : |
About 600 employees (Group) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 |
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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.
However, follow-on components of ECFA, including a signed agreement on trade in
services, negotiations on trade in goods, and dispute resolution—have stalled.
In early 2014, the government bowed to public demand for 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 under
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 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 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 the Taiwan 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: |
NO.1, LN. 160,
SEC. 2, Tanfu RD., Tanzi Dist., Taichung City 42748, Taiwan (R.O.C.) |
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Supplied Address: |
C/O: NO. 1, LANE 160, SEC. 2 TAN-FU ROAD,
TAN-TZU DISTRICT, TAICHUNG CITY, TAIWAN 42748, |
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Telephone Number: |
+886-4-2532-1000 |
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Fax Number: |
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Registered Name: |
JING KENG INTERNATIONAL LIMITED |
|
Registered Address: |
NO.1, LN. 160, SEC. 2,
Tanfu RD., Tanzi Dist., Taichung City 42748, Taiwan (R.O.C.) |
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Date of Foundation: |
2014-5-9 |
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Registration Number: |
54765994 |
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Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2015.7, 1 NTD = 0.0323 USD) |
|
Legal Representatives: |
Jiayan Huang |
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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: |
Subject was incorporated
on 2014-5-9 with registered number 54765994
as Private Limited Liability Company
in Taiwan.
Major Related
Companies
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1 |
|
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Name: |
Tung Keng Enterprise CO., LTD. |
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Address: |
No. 20, LN 305, Sec. 3, Zhongshan Rd., Lilin
Li, Tanzi Dist., Taichung City, Taiwan |
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Tel: |
+886-4-2532-1000 |
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Fax: |
+886-4-2532-5000 |
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2 |
|
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Name: |
Shanghai Jinggeng Metal Products Co. Ltd.
(literal translation) |
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Address: |
No. 600, Yongsheng Rd., Hope City, Malu
Town, Jiading Dist., Shanghai |
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Tel: |
+86-21-5910-2466 |
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Fax: |
+86-21-5910-0847 |
Major Shareholders
|
Name |
Subscription
Amount |
|
Tung Keng Enterprise CO., LTD. |
5,000,000 |
Shareholder Information:
|
1 |
|
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Registered Name: |
Tung Keng Enterprise CO., LTD. |
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Registered Address: |
No. 20, LN 305, Sec. 3, Zhongshan Rd., Lilin
Li, Tanzi Dist., Taichung City, Taiwan |
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Date of Foundation: |
1987-5-4 |
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Registration Number: |
22491655 |
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Registry: |
Taichung City Government |
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Registered Capital: |
NTD 200,000,000 (USD 6,460,000) (As of 2015.7, 1 NTD = 0.0323 USD) |
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Paid-up Capital: |
NTD 200,000,000 (USD 6,460,000) |
|
Legal Representatives: |
Qiuxiang Luo |
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Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2013-11-8 |
Core Management
Directors
|
Name |
Jiayan Huang |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
NO.1, LN. 160, SEC. 2, Tanfu RD., Tanzi
Dist., Taichung City 42748, Taiwan (R.O.C.) |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject is engaged in manufacturing of fitness equipment, etc.
It is introduced that subject has factories in Taiwan and Zhejiang
Province, Mainland China for production, but subject declined to disclose detail, and the relevant information cannot be
obtained from other resources.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
F109070 |
Wholesale of stationery, musical instrument and recreational supplies |
|
F209060 |
Retail of stationery, musical instrument and recreational supplies |
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F401010 |
International trade |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
The components and raw material for production are purchased from both
home and abroad.
It is introduced that some products sold by the subject are purchases
from abroad.
Subject is engaged in sale of fitness equipment, etc.
The major products sold by the subject are treadmill, folding bikes,
e-bikes, power wheel, electric motor car and powered walking chair, etc.
Subject’s products are mainly applied to fitness centers, holiday
villages and amusement park, etc.
Subject sells the products with the brands of Zinger, Manhattan,
Skyline, dbRevO, db0 and db07, etc.
Subject’s sales regions include domestic marker and overseas.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
The components and raw material |
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Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
The components, raw material and fitness equipment, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Sales
Domestic Markets
|
Product |
Fitness equipment, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Fitness equipment, 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
|
Name |
Ms. Liao |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
SDA |
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 |
|
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 |
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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 |
|
-- |
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.