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Report No. : |
346155 |
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Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
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Name : |
HANDSELTEX INDUSTRIAL CORP. |
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Registered Office : |
5-1Fl., No.46, Sec.2, Chungshan N. Rd, Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
04.03.1986 |
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Com. Reg. No.: |
22022289 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of fabric |
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No. of Employees : |
About 10 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Taiwan |
A1 |
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. 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.
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Source
: CIA |
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Company
Name: |
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Supplied
Name: |
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Trading
Address: |
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Supplied
Address: |
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Telephone
Number: |
+886-2-2521-7356 |
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Fax
Number: |
Notes: The
exact name and address are as above.
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Credit
Opinion: |
Subject was incorporated on 1986-03-04
with registered number 22022289 as
Joint Stock Company in Taiwan.
Subject did not register any
subsidiaries or branches; from other source we could not obtain the relevant
information, either.
Major
Shareholders
|
Name |
Subscription Shares |
|
Jinfang Cai |
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51,346 |
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Shuyan
Cai |
6,939 |
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Huangqiumei
Cai |
2,082 |
Core Management
Directors
|
1 |
||
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Name |
Jinfang Cai |
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Position |
Chairman of the Board |
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2 |
||
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Name |
Shuyan Cai |
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Position |
Director |
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3 |
||
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Name |
Yanxin Wu |
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Position |
Director |
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4 |
||
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Name |
Huangqiumei Cai |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About
10 Employees |
Offices & Factories
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|
Headquarters |
|
Add |
Production Information
l Subject
is a trader of fabric, etc. without any production activities.
l It
is introduced that subject has cooperated factory in Taiwan.
l The
products of subject obtained the certification of ISO 14000.
Purchase Information
l The
registered activities of subject:
|
Business Code |
Details |
|
-- |
Trading
of clothes, textiles, knitwear and piece goods, etc. |
|
-- |
Trading
of Cotton and chemical fiber raw materials |
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-- |
Import
and export of the above products; Agent the distribution, quotation and
bidding of products from both home and abroad |
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ZZ99999 |
Besides
licensed business, all other business items those are not banned or
restricted |
l The
products are mostly purchased in subject’s cooperated factory in Taiwan.
l Subject
is engaged in sales of fabric, etc.
l The
major products are fabrics of textile, sport wear, life wear, fashion, underwear,
environmental protection and functional fabrics, etc.
l Subject’s
sales regions include domestic market, Southeast Asia, America and Europe, etc.
l Subject’s
major customers are manufacturers of sport wear, underwear and life wear, etc.
Import and export right:
|
Import
right |
Yes |
|
Export
right |
Yes |
Purchase
1. Domestic
Purchase
|
Products |
Fabric,
etc. |
|
Payment
Terms |
T/T,
Cash, etc. |
2. Import
Subject
has little import.
1. Domestic
Markets
|
Product |
Fabric,
etc. |
|
Selling
Terms |
T/T,
Cash, etc. |
2. Export
|
Product |
Fabric,
etc. |
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Selling
Terms |
L/C,
T/T, etc. |
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.
Jian |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
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|
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Report Prepared
by : |
DPT |
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 |
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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.