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Report No. : |
329163 |
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Report Date : |
30.06.2015 |
IDENTIFICATION DETAILS
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Name : |
YI THAI INTERNATIONAL CO., LTD. |
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Registered Office : |
3F.-1, NO.16, Chang-An W. RD., Zhongshan Dist., Taipei City 10444, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
06.04.2000 |
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Com. Reg. No.: |
70736150 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of Steel Products. |
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No. of Employees : |
About 12 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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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. 263, Sec. 3,
Changxing Rd., Luzhu Township, Taoyuan County, Taiwan |
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Supplied Address: |
3F-1 No 16, Chang An W Road Zhongshan Dist
Taipei City 10444 Taiwan |
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Telephone Number: |
+886- 3-324-1880 |
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Fax Number: |
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Email: |
Note: The exact name and address are as above. The
supplied address is subject’s registered address.
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Registered Name: |
Yi Thai International Co., Ltd. |
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Registered Address: |
3F.-1, NO.16, Chang-An W. RD., Zhongshan
Dist., Taipei City 10444, Taiwan (R.O.C.) |
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Date of Foundation: |
2000-4-6 |
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Registration Number: |
70736150 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2015.6, 1 NTD = 0.0323 USD) |
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Paid-up Capital: |
NTD 20,000,000 (USD 646,000) |
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Legal Representatives: |
Yizhong Hu |
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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 2000-4-6 with registered number 70736150
as Joint Stock Company in Taiwan.
Change of Name
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Former Chinese Name: |
宜泰國際有限公司 |
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Current Chinese Name: |
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Former English Name: |
Yi Ti International Co., Ltd. |
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Current English Name: |
Yi Thai International Co., Ltd. |
Major Related Companies
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1 |
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Name |
Jiaguan Technology Co. Ltd. (literal translation) |
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Tel: |
+886-5-206-3220 |
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Fax: |
+886-5-226-9116 |
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2 |
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Name |
Lixin Electric Co. Ltd. (literal translation) |
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Tel: |
+886-6-356-1704 |
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Fax: |
+886-6-355-9675 |
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3 |
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Name |
Mingyuan Electric Co. Ltd. (literal translation) |
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Tel: |
+886-7-321-2255 |
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Fax: |
+886-7-322-3406 |
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4 |
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Name |
Jiguang Enterprise Co. Ltd. (literal translation) |
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Tel: |
+886-2-2776-6146 |
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Fax: |
+886-2-2705-5001 |
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5 |
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Name |
Zhongda Electromechanical Co. Ltd. (literal translation) |
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Tel: |
+886-4-2337-7230 |
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Fax: |
+886-4-2337-0594 |
Major Shareholders
|
Name |
Subscription Shares |
|
Yizhong Hu |
673,000 |
|
Bilian Lin |
|
|
625,000 |
|
|
Guanling Liu |
120,000 |
|
Huijun Luo |
380,000 |
Core Management
Directors
|
1 |
||
|
Name |
Yizhong Hu |
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Position |
Board Chairman |
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2 |
||
|
Name |
Bilian Lin |
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Position |
Director |
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3 |
||
|
Name |
Guanling Liu |
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Position |
Director |
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4 |
||
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Name |
Huijun Luo |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 12 employees |
Offices & Factories
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|
Headquarters |
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Add |
No. 263, Sec. 3, Changxing Rd., Luzhu Township, Taoyuan County, Taiwan |
Production Information
Subject is a trader of engaged
in trading of steel products.
Registered files show that subject registered
a factory in 2006, but Ms. Alice of the subject introduced that the factory has
no production activities at present.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
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CB01990 |
Manufacturing
of other machinery |
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CC01010 |
Manufacturing of power generation, transmission, distribution |
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CC01990 |
Manufacturing of other mechanical electrical and electronic equipment |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
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F102030 |
Wholesale of tobacco and alcohol |
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F203020 |
Retail of tobacco and alcohol |
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F106010 |
Wholesale of hardware |
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F111090 |
Wholesale of construction material |
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F113010 |
Wholesale of machinery |
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F401010 |
International
trade |
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F101130 |
Wholesale of vegetables and fruits |
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F199010 |
Wholesale of recovered
materials |
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F199990 |
Other wholesale business |
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F206010 |
Retail of hardware |
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F399990 |
Other comprehensive retail business |
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CA01070 |
Disintegration of waste transport and scrap metal processing industry |
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J101030 |
Waste removal industry |
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J101040 |
Waste disposal industry |
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J101080 |
Resources recycling industry |
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J101090 |
Waste disposal industry |
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CA01050 |
Steel secondary processing industry |
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CA01100 |
Aluminum secondary processing industry |
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CA01990 |
Other non-ferrous metal basic industries (silver and alloy wire
segments) |
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CA02010 |
Manufacturing of metal structures and building components |
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CA03010 |
The heat treatment industry |
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E801030 |
Indoor light steel engineering |
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F299990 |
Other retail business |
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I401010 |
General advertisement business |
Subject’s steel products are mostly purchased in domestic market.
Subject is engaged in trading of steel products.
The major products sold by the subject are Billet, rebar, H
section steel, Angle steel, channel steel, stainless steel coil, stainless
steel plate, stainless steel pipe and so on.
It is introduced that subject also sell electrical machines products, such as Molded Case Circuit Breaker, Earth
Leakage Circuit Breaker and Magnetic Switch, etc.
Subject’s sales regions include domestic market, Mainland China, Japan
and South Korea, etc.
Subject’s major customers are Sinosteel of Taiwan, POSCO of South Korea,
Baoshan Iron & Steel Co., Ltd. OF Mainland China and steel plants of Japan,
etc.
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Steel products |
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Payment Terms |
T/T, Cash |
Import
|
Products |
Electrical machines products |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Steel products and electrical
machines products |
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Selling Terms |
T/T, Cash |
Export
|
Product |
Steel products and electrical
machines products |
|
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. Alice |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.92 |
|
|
1 |
Rs.100.40 |
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Euro |
1 |
Rs.70.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
-- |
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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.