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Report No. : |
327559 |
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Report Date : |
17.06.2015 |
IDENTIFICATION DETAILS
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Name : |
TAI YUEN TEXTILE CO., LTD. |
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Registered Office : |
8F, No.2, Sec.2, Tun Hwa S. Rd., Taipei City |
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Country : |
Taiwan |
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Date of Incorporation : |
21.03.1955 |
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Com. Reg. No.: |
03516001 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in manufacturing and sale
of yarn and cloth |
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No. of Employee : |
About 1,400 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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|
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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, negotiations on follow-on components of ECFA, including an agreement on trade in services, deals 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 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 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 fourth largest, behind those of China, Japan, and Russia. 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 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: |
9F & 10F, No. 2, Sec. 2, Tun Hwa S. Rd.,
Taipei City, Taiwan, R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-2-7713-2222/2755-2222 |
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Fax Number: |
Notes: The exact address is as above.
Subject was incorporated
on 1955-3-21 with registered number 03516001 as Joint Stock Company in Taiwan.
Factories
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1 |
|
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Name: |
Xiushui Factory |
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Address: |
No. 2, Fuxin St., Fuan Village, Xiushui Xiang, Changhua County, Taiwan |
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Date of Foundation: |
1969-1-1 |
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Date of Registration: |
1973-10-12 |
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Factory Registration Number: |
99645532 |
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Factory Manager: |
Kaitai Yan |
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Status: |
In Production |
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Date of Last Annual Return: |
2007-9-5 |
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Major Products: |
111 yarn 112 cloth 121 woven garment |
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2 |
|
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Name: |
Zhunan Factory |
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Address: |
No. 1639, Gongyi Rd., Gongyi Li, Zhunan Town, Miaoli County, Taiwan |
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Date of Foundation: |
1984-6-20 |
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Date of Registration: |
1986-6-13 |
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Factory Registration Number: |
99632985 |
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Factory Manager: |
Kaitai Yan |
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Status: |
In Production |
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Date of Last Annual Return: |
2007-9-5 |
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Major Products: |
114 dyeing and finishing |
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3 |
|
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Name: |
Zhubei General Factory |
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Address: |
No. 416, Zhongshan Rd., Zhubei Li, Zhubei City, Xinzhu County, Taiwan |
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Date of Foundation: |
1969-1-1 |
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Date of Registration: |
1969-8-11 |
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Factory Registration Number: |
99630274 |
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Factory Manager: |
Kaitai Yan |
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Status: |
In Production |
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Date of Last Annual Return: |
2013-8-27 |
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Major Products: |
111 yarn 112 cloth |
Related Companies
|
1 |
|
|
Name |
Yulon Motor Co., Ltd |
|
Address |
No.39-1, Po Kong Keng, Hsi Hu Village Sanyi, 367 Taiwan |
|
Tel |
+886-3-787-1801 |
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Fax |
+886-3-787-4790 |
|
2 |
|
|
Name |
Dezhou Yuan Mao Textile Co., Ltd. |
|
Address |
Dezhou Economic Development Zone High And New Technology, Dezhou City,
Shandong Province, China |
|
Tel |
+86-534-272-5299 |
Major Shareholders
|
Name |
Shares |
|
Kaitai Yan |
3,651 |
|
Yuxin Investment Co., Ltd (Literal
Translation) |
|
|
12,091,950 |
|
|
Yan Qingling Industrial Development Foundation (Literal Translation) |
116,535,385 |
|
Liyuan Investment Co., Ltd (Literal Translation) |
58,696,185 |
|
Yulon Motor Co., Ltd |
170,685,389 |
|
Lipeng Investment Co., Ltd (Literal Translation) |
45,892,402 |
|
Yongshun Investment Co., Ltd (Literal Translation) |
55,809,000 |
|
Jingyu Investment Co., Ltd (Literal Translation) |
12,277,980 |
|
Taiwen Knitting Co., Ltd (Literal Translation) |
37,278,849 |
Core Management
Directors
|
1 |
|
|
Name |
Kaitai Yan |
|
Position |
Chairman of the Board |
|
2 |
|
|
Name |
Lilian Chen |
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Position |
Vice Chairman of the Board |
|
3 |
|
|
Name |
Weigong Qi |
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Position |
Executive Director & Manager |
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Date of Appointment for Manager |
1997-9-1 |
|
4 |
|
|
Name |
Xinyi Lin |
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Position |
Director |
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5 |
|
|
Name |
Guorong Chen |
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Position |
Director |
|
6 |
|
|
Name |
Guangshou Li |
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Position |
Director |
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7 |
|
|
Name |
Jishi Huang |
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Position |
Director |
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8 |
|
|
Name |
Yinshui Lai |
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Position |
Director |
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9 |
|
|
Name |
Heqi Cheng |
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Position |
Director |
|
10 |
|
|
Name |
Yingkun Huang |
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Position |
Director |
|
11 |
|
|
Name |
Zhongchen Liu |
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Position |
Director |
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12 |
|
|
Name |
Zongren Lai |
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Position |
Director |
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13 |
|
|
Name |
Taiming Chen |
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Position |
Supervisor |
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14 |
|
|
Name |
Yizhen Liu |
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Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 1,400 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
9F & 10F, No. 2, Sec. 2, Tun Hwa S. Rd., Taipei City, Taiwan,
R.O.C. |
Production Information
Subject is engaged in manufacturing of yarn and cloth, etc.
Subject has three factories in Taiwan for production.
Subject obtained the certification of ISO 9002.
It is introduced that subject’s Zhubei Factory is about 400,000 square
meters with the annual production capacity of 106,700 pieces for gray yarn and
22,000,000 yards for denim; the Miaoli Factory is about 160,000 square meters
with the annual production capacity of 45,600,000 yards for color cloth.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Spinning (cotton yarn, man-made fiber yarn、mixed yarn) and fabricated product. |
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-- |
Weaving cloth (cotton cloth, man-made fiber cloth, blended fabric) and
fabricated product. |
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-- |
Dyeing and finishing (various coated abrasive、knitwear dyeing、printing and sorting out) |
|
-- |
Knitting (manufacture, transportation and sales of various knitwear
and garments) |
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-- |
Transportation and sales of coated abrasive and related products |
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-- |
Import and export business of above mentioned products |
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-- |
Rental of self-owned rest factory and building |
|
F108031 |
Wholesale of medical equipment and materials |
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F208031 |
Retail of medical equipment and materials |
|
ZZ99999 |
Besides licensed business, all other business items those are
not banned or restricted. |
The raw materials for production are both purchased in Taiwan domestic
market and abroad.
Subject is engaged in sale of yarn and
cloth, etc.
The major products sold by the subject are spinning, yarn, denim, dyeing
cloth, knitting fabric, etc.
Subject’s sales regions include domestic market, India, Thailand,
Southeast Asia, America, etc.
The general delivery lead time of subject is about 50 days.
Subject’s major customers are manufacturers of cloth and garments, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
Yarn and cloth, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Yarn and cloth, 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 |
Mr. Huang |
|
Department |
Overseas Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.72.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
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Report Prepared
by : |
ASH |
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 |
|
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.