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Report No. : |
321513 |
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Report Date : |
14.05.2015 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL ASIA CORPORATION |
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Registered Office : |
4F., No.65, Sec. 2, Dunhua S. Rd., Da-An Dist., Taipei City 10682 |
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Country : |
Taiwan |
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Date of Incorporation : |
19.04.2011 |
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Com. Reg. No.: |
53330819 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of ferroalloy raw materials. |
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No. of Employees : |
Not Available |
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 |
|
Low |
A2 |
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Moderate |
B1 |
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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, 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: |
4F., No.65, Sec.
2, Dunhua S. Rd., Da-An Dist., Taipei City 10682, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-2704-9549 |
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Fax Number: |
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E-mail: |
Notes: The exact address is as above, and the
supplied address is not complete.
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Registered Name: |
Global Asia Corporation |
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Registered Address: |
4F., No.65, Sec. 2, Dunhua S. Rd., Da-An
Dist., Taipei City 10682, Taiwan (R.O.C.) |
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Date of Foundation: |
2011-4-19 |
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Registration Number: |
53330819 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2015.5, 1 NTD = 0.0325 USD) |
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Paid-up Capital: |
NTD 20,000,000 (USD 650,000) |
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Legal Representatives: |
Shunsheng Tang |
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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: |
Note: Subject declined
to disclose the number of staff, and from other source we cannot obtain the
detail information.
Subject was incorporated on
2011-4-19 with registered number 53330819 as Joint Stock Company in Taiwan.
Corporate Structure
Subject did not register any subsidiaries or branches; from
other source we could not obtain the relevant information, either.
Major Shareholders
|
Name |
Subscription Shares |
|
Excelco Corporation |
|
|
360,000 |
|
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Global Commerce LLC |
1,000,000 |
|
Qionghui Huang |
520,000 |
Shareholder Information:
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Registered Name: |
Excelco Corporation |
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Registered Address: |
14F., No.57, Sec.2, Tun-Hua S. Rd., Taipei,
Taiwan, R.O.C. |
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Date of Foundation: |
1992-2-1 |
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Registration Number: |
86554606 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 80,000,000 (USD 2,600,000) (As of 2015.05, 1 NTD = 0.0325 USD) |
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Paid-up Capital: |
NTD 80,000,000 (USD 2,600,000) |
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Legal Representatives: |
Shunsheng Tang |
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Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2015-4-30 |
Core Management
Directors
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1 |
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Name |
Shunsheng Tang |
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Position |
Chairman of the Board |
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2 |
||
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Name |
Jinhai Li |
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Position |
Director |
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3 |
||
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Name |
Nordic (R.N) |
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Position |
Director |
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4 |
||
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Name |
Qionghui Huang |
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Position |
Supervisor |
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Offices &
Factories
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|
Headquarters |
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Add |
4F., No.65, Sec. 2, Dunhua S. Rd., Da-An Dist., Taipei City 10682,
Taiwan (R.O.C.) |
Production
Information
Subject is a trader of ferroalloy
raw materials, etc. without any production activities.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
F106010 |
Hardware wholesaling |
|
F206010 |
Hardware retailing |
|
F401010 |
The international trade |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
It is introduced that the products sold by the subject are mainly
purchased from abroad.
Sales
Information
Subject is engaged in sale of ferroalloy raw materials
It is introduced that the products of the
subject are applied for manufacturing of ferroalloy and steel products
Subject mainly sells its products in Taiwan local market.
Subject’s major customers are smelting industry
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
Subject has little domestic purchase.
Import
|
Products |
Ferroalloy raw materials |
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Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Ferroalloy raw materials |
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Selling Terms |
T/T, Cash |
Export
Subject has little export.
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. Kou |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.19 |
|
|
1 |
Rs.100.058 |
|
Euro |
1 |
Rs.72.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
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|
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Report Prepared
by : |
ANK |
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 |
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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 |
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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.