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Report No. : |
331314 |
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Report Date : |
15.07.2015 |
IDENTIFICATION DETAILS
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Name : |
TSU CHIANG CO.,
LTD. |
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Registered Office : |
6F-3, No. 4-5, Chin Hsi St., Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
20.09.1988 |
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Com. Reg. No.: |
23050945 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
It is introduced that subject has suspended
its business activities at present. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Business activities suspended |
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Payment Behaviour : |
-- |
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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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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.
|
Source
: CIA |
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Company Name: |
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Supplied Name: |
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Supplied Address: |
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Telephone Number: |
+886-2-2531-2517 |
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Fax Number: |
Notes:
Subject declined to disclose the current address,
and it is introduced that the supplied address is subject’s former address.
We contacted the subject through the telephone
number +886-2-2531-2517 from public files according to the supplied name. The
director Mr. Qingjun Lin of the subject answered the phone said the subject
does not have any purchase activities at present and plans to suspend its
business activities for a period of time. He introduced that they only have
some warehouse goods for sale and the subject will have a rest for a period of
time when sells out all the warehouse goods.
The director Mr. Qingjun Lin also introduced that
the subject was engaged in sale of garments before, and the supplied address is
subject’s former address. He said the subject does not have any trading address
at present, and he did not know when he will restart operation of the
subject.
Note: Subject declined to
disclose the number of staff, and from other source we cannot obtain the information,
either.
Subject was
incorporated on 1988-9-20 with registered number 23050945 as Private Limited
Liability Company in Taiwan.
Subject
did not register any subsidiaries or branches; from other source we could not
obtain the relevant information, either.
Major
Shareholders
|
Name |
Subscription Amount |
|
Qingjun Lin |
|
|
2,600,000 |
Core
Management
Directors
|
Name |
Qingjun
Lin |
|
Position |
Director
|
Offices
& Factories
It is introduced that
subject does not have any operating office at present.
Operation
Information
It is introduced that subject was engaged in sale of
garments before, but at present it has suspended its business activities.
The
registered activities of subject are as follows:
|
Business
Code |
Details |
|
1 |
House
renting and selling business |
|
2 |
General
trading business |
|
3 |
The
biding, pricing and distribution of products home and abroad |
|
F109050 |
Toy
gun wholesaling |
|
F209040 |
Toy
gun retailing |
|
ZZ99999 |
Besides
licensed business, all other business items those are not banned or
restricted. |
Import
and export right:
|
Import
right |
Yes |
|
Export
right |
Yes |
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 |
Mr. Qingjun Lin |
|
Position |
Director |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
UK Pound |
1 |
Rs.98.20 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
|
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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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.