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Report No. : |
321300 |
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Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
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Name : |
YENG HSINGH CO., LTD. |
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Registered Office : |
16FL-8, No.79, Sec.1, Hsin Tai 5th Rd.,
Xizhi Dist., New Taipei City 221 |
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Country : |
Taiwan |
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Date of Incorporation : |
19.03.1981 |
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Com. Reg. No.: |
85889506 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of chemical products.
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No. of Employee : |
About 100 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A2 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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, 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: |
16F.-8, No.79,
Sec. 1, Xintai 5th Rd., Xizhi Dist., New Taipei City 221, Taiwan (R.O.C.) |
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Supplied Address: |
QC Department
Miss Huang No 6, Yung Gon 9 Rd, Yung an Industrial Area Yung An |
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Telephone Number: |
+886-2-2698-1930 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above. The
supplied address is subject’s Tainan office.
Subject was incorporated on
1981-3-19 with registered number 85889506 as Joint Stock Company in Taiwan.
Factories
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1 |
|
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Address: |
No. 6-2, Yonggong Jiu Rd., Weixin Li, Yong’an Dist., Gaoxiong City,
Taiwan |
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Date of Foundation: |
1990-12-31 |
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Date of Registration: |
1990-12-31 |
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Factory Registration Number: |
99662538 |
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Factory Manager: |
Mingcong Guo |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-11-6 |
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Major Products: |
181 basic chemical materials 192 coating, dyes and pigments 239 other non-metallic mineral products 233 cement and its products |
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2 |
|
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Address: |
16FL-8, No.79, Sec.1, Hsin Tai 5th Rd.,
Xizhi Dist., New Taipei City 221, Taiwan (R.O.C.) |
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Date of Foundation: |
1996-5-27 |
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Date of Registration: |
1996-9-9 |
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Factory Registration Number: |
99608023 |
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Factory Manager: |
Mingcong Guo |
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Status: |
In Production |
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Date of Last Annual Return: |
2002-8-15 |
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Major Products: |
192 coating, dyes and pigments |
Office
|
Name |
Tainan Office |
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Address |
No. 6, Yonggong Jiu Rd., Weixin Li, Yong’an Dist., Gaoxiong City,
Taiwan |
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Telephone Number |
+886-7-622-7733 |
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Fax Number |
+886-7-622-7791 |
Major Shareholders
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Name |
Subscription Shares |
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Mingcong Guo |
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|
1,892,000 |
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|
Yuanze Guo |
1,270,500 |
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Miao Lin |
1,793,000 |
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Yian Guo |
1,050,500 |
Core Management
Directors
|
1 |
||
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Name |
Mingcong Guo |
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Position |
Chairman of the Board |
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2 |
||
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Name |
Yuanze Guo |
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Position |
Director |
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3 |
||
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Name |
Miao Lin |
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Position |
Director |
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4 |
||
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Name |
Yian Guo |
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Position |
Supervisor |
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Personnel
Structure
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Total Employees |
About 100 Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
16FL-8, No.79, Sec.1, Hsin Tai 5th Rd., Xizhi Dist., New Taipei City
221, Taiwan (R.O.C.) |
Production
Information
Subject is engaged in manufacturing of chemical products
Subject has two factories in Taiwan for production.
It is introduced that some of subject’s machinery for production are
imported from Germany and Japan.
The factory in Gaoxiong City of the subject is about 4,500 square
meters.
Subject obtained the certification of ISO 9002.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
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C201010 |
Feed manufacturing |
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C801010 |
Basic chemical industry |
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C801110 |
Fertilizer manufacturing |
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C801990 |
Other chemical products manufacturing |
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C802120 |
Fertilizer manufacturing industry |
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C802200 |
Coating, painting, dyes and pigments manufacturing |
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C901020 |
Glass and glass products manufacturing |
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C901030 |
Cement manufacturing |
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C901060 |
Refractory products manufacturing |
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C901070 |
Stone products manufacturing |
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C901990 |
Other non-metallic mineral products manufacturing |
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CB01010 |
Machinery and equipment manufacturing |
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CB01990 |
Other machinery manufacturing |
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E603080 |
Traffic sign installation engineering |
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E604010 |
The machinery installation industry |
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E605010 |
Computer equipment installation industry |
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E801040 |
Glass installation engineering |
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E901010 |
Paint engineering |
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EZ06010 |
Traffic signs engineering |
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F107010 |
Painting and coating wholesaling |
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F107990 |
Other chemical products wholesaling |
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F102180 |
Alcohol wholesaling |
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F113020 |
Electrical wholesaling |
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F113090 |
Traffic signs equipment wholesaling |
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F207990 |
The chemical products retailing |
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F211010 |
Building materials retailing |
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F213030 |
Computers and transactional machinery and equipment retailing |
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F213080 |
Mechanical equipment retailing |
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F218010 |
Information software retailing |
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F401010 |
The international trade |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The raw materials for production are both purchased in domestic market
and abroad.
Subject is engaged in sale of chemical
products
The major products of the subject are chemical products, precision
casting/refractory materials, traffic safety facilities, line construction
facilities and so on.
Subject’s sales regions include domestic market, Japan, Singapore,
Korea, Southeast Asia
Subject’s major customers are manufacturers of chemical products, road
maintenance companies
The detail information of subject’s products are as follows:
|
Category |
Details |
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Chemical products |
Calcium carbonate, talc powder, kaolin clay, other chemical products,
etc. |
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Precision casting/refractory materials |
Mullite Sand (powder) |
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Traffic safety facilities |
The rmoplastic road marking materials, reflective glass beads for road,
adhesive, anti-glare panel, bitumen mastic, etc. |
|
Line construction facilities |
Ruling machines |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Raw materials |
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Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Chemical products. |
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Selling Terms |
T/T, Cash |
Export
|
Product |
Chemical 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
|
Case Type: |
Chattel Mortgage |
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File No.: |
084925 |
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Debtor Name: |
Yeng Hsingh Co., Ltd. |
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Document Number: |
09405158430 |
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Date of Registration: |
2005-9-23 |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
|
Name |
Mr. Guo |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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 |
-- |
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.