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Report No. : |
327862 |
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Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHILDREN’S PUBLICATIONS CO., LTD. |
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|
|
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Registered Office : |
7F.-1, No.314, Sec. 1, Neihu Rd., Neihu District, Taipei City 114,
Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
10.08.1994 |
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Com. Reg. No.: |
84929100 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Publishing and Trading of Children’s Books. |
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No. of Employees : |
About 15 |
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 |
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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 |
|
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.
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 |
|
Company Name: |
|
|
Supplied Name: |
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Trading Address: |
7F.-1, No.314, Sec. 1, Neihu Rd., Neihu
District, Taipei City 114, Taiwan (R.O.C.) |
|
Supplied Address: |
|
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Telephone Number: |
+886-2-8797-2777 ext
811 |
|
Fax Number: |
Note: The exact name and
address are as above.
Subject was incorporated on 1994-8-10 with
registered number 84929100 as Joint Stock Company in Taiwan.
Change of Name
|
Former English Name: |
Children Publications Co., Ltd. |
|
Current English Name: |
Children's Publications Co., Ltd. |
Subject did not register any subsidiaries or branches; from other source
we could not obtain the relevant information, either.
Major Shareholders
|
Name |
Subscription Shares |
|
Xunmin Lin |
|
|
3,083,166 |
|
|
Heyu Wang |
401,351 |
|
Lin Lin |
575,959 |
|
Yongcheng Lin |
468,243 |
Core Management
Directors
|
1 |
||
|
Name |
Xunmin Lin |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Heyu Wang |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Lin Lin |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Yongcheng Lin |
|
|
Position |
Supervisor |
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Personnel Structure
|
Total Employees |
About 15 employees |
Offices & Factories
|
|
Headquarters |
|
Add |
7F.-1, No.314,
Sec. 1, Neihu Rd., Neihu District, Taipei City 114, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of Children’s books.
It is introduced that subject has own publishing house in Taiwan, but
the subject declined to disclose the detail for us, and the relevant
information cannot be obtained from any other resources.
Purchase Information
The registered activities of subject:
|
No. |
Details |
|
1 |
Distribution and trading of books and magazines |
|
2 |
Trading of stationery |
|
3 |
Publishing and issuing of all kinds of books |
|
4 |
Manufacturing and issuing of all kinds of
video programs |
|
5 |
Publishing and issuing of all kinds of tapes, laser disc |
|
6 |
Trading of computer and its peripheral equipment and its components |
|
7 |
Designing and trading of IT software |
|
8 |
General import and export business (besides licensed business) |
|
9 |
As an agent assists in developing quoting, bidding
and distributing about home and abroad companies' products |
|
F109040 |
Wholesale of toys and entertainment products |
|
F209030 |
Retail of toys and entertainment products |
The raw material for production is purchased from both home and abroad.
Subject is engaged in sale of Children’s
books.
Subject’s major products are Children’s books, the content of books cover
intelligent cultivation, life games, art appreciation and creation,
Children's Literature and history, etc.
It is introduced that subject primarily purchases Children’s books from
Britain, French, Switzerland, and Japan (some are purchased in Taiwan domestic
market) and translates them into Chinese and then publish them.
Subject’s sales regions mainly focus on Taiwan domestic market, Hong
Kong and Southeast Asia, etc.
It is introduced
that subject also sells its products through internet.
Subject’s major customers are books distributors and bookstore.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw material |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Children’s books |
|
Payment Terms |
L/C, T/T |
Sales
1.
Domestic Markets
|
Product |
Children’s books |
|
Selling Terms |
T/T, Cash |
2.
Export
|
Product |
Children’s books |
|
Selling Terms |
L/C, T/T |
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. Zhang |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
|
1 |
Rs.100.94 |
|
Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
|
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.