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Report No. : |
340409 |
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Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
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Name : |
CHAIN RAIL GROUP CORPORATION |
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Registered Office : |
4F.-1, No.88, Jhouzih St., Neihu District, Taipei City 114 |
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Country : |
Taiwan |
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Date of Incorporation : |
22.11.1990 |
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Com. Reg. No.: |
23918550 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of consumer products |
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No. of Employee : |
About 200
Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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. 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: |
4F.-1, No.88,
Jhouzih St., Neihu District, Taipei City 114, Taiwan |
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Supplied Address: |
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Telephone Number: |
+886-2-2656-0666 |
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Fax Number: |
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E-mail: |
Notes: The exact name and
address are as above.
Subject was incorporated on 1990-11-22 with
registered number 23918550 as Joint Stock Company in Taiwan.
Change of Name
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Former English Name: |
Turinar Corporation |
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Current English Name: |
Chain Rail Group Corporation |
Related Companies
|
1 |
|
|
Name |
Qlink Motos Ltd |
|
Country |
Brazil |
|
2 |
|
|
Name |
QLINK, L.P. |
|
Country |
USA |
|
3 |
|
|
Name |
FULLTUNEMEX S.A.DEC.V. |
|
Country |
Mexico |
|
4 |
|
|
Name |
L.U.KINGDOM KFT |
|
Address |
1107 Budapest, Monori u.2-4, E15-12, Hungary |
|
Tel |
+36-1-261-2309 |
|
5 |
|
|
Name |
FUSECO COMERCIAL LIDA |
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Address |
Av. Henry Ford, 1660 - Parque da Mooca - CEP 03109-000 – Sao Paulo,
Brazil |
|
Tel |
+55-11-2914-1528 |
|
6 |
|
|
Name |
FAPA CO., LTD |
|
Address |
14, Simbiat Abiola Road, Ikeja, Lagos, Nigeria |
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Tel |
+234-1-266-9710 |
|
7 |
|
|
Name |
Modacc Fashion Private Limited |
|
Address |
102-103,Vardhaman Key Point Plaza LSC#3,Sector#6,Dwarka New Delhi,
India 110075 |
Major Shareholders
|
Name |
Subscription Shares |
|
Nairong Wu |
|
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1,645,600 |
|
|
Shuqi Wu |
408,000 |
|
Rouxuan Wu |
408,000 |
|
Meili Guo |
1,591,200 |
Core Management
Directors
|
1 |
||
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Name |
Nairong Wu |
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Position |
Chairman of the Board |
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2 |
||
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Name |
Shuqi Wu |
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Position |
Director |
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3 |
||
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Name |
Rouxuan Wu |
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Position |
Director |
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4 |
||
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Name |
Meili Guo |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 200 Employees |
Offices & Factories
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|
Headquarters |
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Add |
4F.-1, No.88, Jhouzih St., Neihu District, Taipei City 114, Taiwan |
Production Information
Subject is a trader
of consumer products, etc.
without any production activities.
Purchase Information
The
registered activities of subject:
|
Business Code |
Details |
|
F102170 |
Wholesaling of food |
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F104110 |
Wholesaling of cloth, garment, shoes, hat and garment accessories. |
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F105050 |
Furniture, bedding products, kitchen appliance installations
wholesaling |
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F106010 |
Hardware wholesale |
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F106020 |
Supplies wholesale |
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F106030 |
Mold wholesaling |
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F106040 |
Water materials wholesale |
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F107190 |
Plastic film and bas wholesaling |
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F109070 |
Culture and education instrument, recreational supplies wholesaling |
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F113010 |
Mechanical wholesaling |
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F113020 |
Electrical wholesaling |
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F114030 |
Wholesale of automobile and motorcycle parts |
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F115010 |
Jewelry and precious metals wholesaling |
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F119010 |
Electronics material wholesale business |
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F203010 |
Food and beverage retail |
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F204110 |
Retailing of cloth, garment, shoes, hat and garment accessories. |
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F205040 |
Bedding furniture, kitchen appliance, installed product retailing |
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F206010 |
Hardware retail |
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F206020 |
Supplies retail |
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F206030 |
Mold retail |
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F206040 |
Water materials retail |
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F207190 |
Plastic film and bag retailing |
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F209060 |
Culture and education instrument, recreational supplies retail |
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F213010 |
Electrical appliance retailing |
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F213080 |
Mechanical equipment retail |
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F214030 |
Retail of automobile and motorcycle parts |
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F215010 |
Jewelry and precious metals retail |
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F219010 |
Electronics components retail business |
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F401010 |
The international trade |
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F399040 |
No store retail |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The products sold
by the subject are both purchased at home and abroad.
Subject is engaged in sale of
consumer products, etc.
The major products
include IT products, home appliances, motorcycles, shoes, bags, baby strollers
and so on.
Subject’s sales
regions include Asia, Europe, Africa, America, etc.
Subject’s major
customers are wholesalers and distributors of home appliances, shoes, children
products, etc.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic
Purchase
|
Products |
Consumer products, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Consumer products, etc. |
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Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
Consumer products, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Consumer products, etc. |
|
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 |
Mr. Wu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
|
1 |
Rs.102.59 |
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Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
SDA |
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 |
-- |
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.