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Report No. : |
348216 |
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Report Date : |
13.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
DS TECHNOLOGY CO., LTD. |
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|
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Registered Office : |
10F.-1, No.73, Fusing N. Rd., Songshan
District, Taipei City 105 |
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Country : |
Taiwan |
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Date of Incorporation : |
30.10.2006 |
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Com. Reg. No.: |
28442843 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of solar module. |
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|
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No. of Employee : |
Not Available |
RATING & COMMENTS
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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.
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 the ECFA, including a signed agreement on
trade in services and negotiations on trade in goods and dispute resolution,
have stalled. In early 2014, the government bowed to public demand and proposed
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 nearly 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 (MOU) 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 Taiwan’s
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 |
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Company Name: |
|
|
Supplied Name: |
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Trading Address: |
10F.-1, No.73,
Fusing N. Rd., Songshan District, Taipei City 105, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2778-5231 |
|
Fax Number: |
Note: The exact name and address are as above.
Note: Subject declined to disclose its staff number, and from other source we
can’t obtain the information, either.
Subject was incorporated
on 2006-10-30 with registered number 28442843
as Joint Stock Company in Taiwan.
Factory
|
Name: |
Taichung plant |
|
Address: |
No.18, Industrial 17 Rd., Tali City, Taichung, Taiwan |
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Telephone Number: |
+886-4-2271-0188 |
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Fax Number: |
+886-4-2271-3728 |
Oversea Office
|
Address: |
18725 Gale Ave. Ste 205 City of Intustry, CA 91748 |
|
Telephone Number: |
+626-723-7890 |
|
Fax Number: |
+626-723-7897 |
Major Shareholders
|
Name |
Subscription Shares |
|
Qinghong Shi |
3,700,000 |
|
Congkai Zhang |
|
|
200,000 |
|
|
Yida Cai |
100,000 |
Core Management
Directors
|
1 |
||
|
Name |
Qinghong Shi |
|
|
Position |
Board Chairman |
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|
2 |
||
|
Name |
Yihong Shi |
|
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Position |
Director |
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|
3 |
||
|
Name |
Congkai Zhang |
|
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Position |
Director |
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|
4 |
||
|
Name |
Yida Cai |
|
|
Position |
Supervisor |
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Offices &
Factories
|
|
Headquarters |
|
Add |
10F.-1, No.73, Fusing N. Rd., Songshan District, Taipei City 105,
Taiwan (R.O.C.) |
Production
Information
Subject is engaged in manufacturing of solar module
Subject has a factory in Taiwan for production.
Subject obtained the certifications of TUV and IEC.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
|
D101040 |
Power generation not belonging to the public |
|
F111090 |
Wholesale of building Materials |
|
F113010 |
Wholesale of machinery |
|
F113020 |
Wholesale of electric equipment |
|
F113110 |
Wholesale of battery |
|
F119010 |
Wholesale of electronics material |
|
F401010 |
International
trade |
|
IG03010 |
Energy services industry |
|
F108040 |
Wholesale of cosmetic |
|
F102170 |
Wholesale of food and miscellaneous goods |
|
F203010 |
Retails of food, drinks and miscellaneous goods. |
|
F208040 |
Cosmetics retail industry |
|
F208050 |
Retail of B class medicine |
|
JZ99080 |
Hairdressing services |
|
JZ99110 |
Thin body beauty industry |
The components and raw material for production are mostly purchased in
domestic market.
Subject imports equipment from abroad, such as USA and Japan
Subject is engaged in sale of solar module
The major products sold by the subject are single crystal solar module
and polycrystalline solar module
Subject’s sales regions include Taiwan domestic market, Mainland China,
Southeast Asia, Canada and USA
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw material |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Equipment |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Solar module |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Solar module |
|
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 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.35 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.71.30 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
|
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.
S