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Report No. : |
342436 |
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Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
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Name : |
CHENS KINGSHIP CO., LTD. |
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|
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Registered Office : |
5F-2, No.200, Chung Ming Rd., Taichung, R.O.C. |
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|
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Country : |
Taiwan |
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Date of Incorporation : |
08.06.1995 |
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|
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Com. Reg. No.: |
89545069 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trader of Moulds |
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No. of Employees : |
About 11 |
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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|
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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: |
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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- 4-2326-8683 |
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Fax Number: |
+886- 4-232-07883 |
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E-mail: |
Notes: The exact
name and address are as above.
|
Registered Name: |
Chens Kingship Co., Ltd. |
|
Registered Address: |
5F-2, No.200, Chung Ming Rd.,
Taichung, Taiwan, R.O.C. |
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Date of Foundation: |
1995-6-8 |
|
Registration Number: |
89545069 |
|
Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2015.9, 1 NTD = 0.0301
USD) |
|
Paid-up Capital: |
NTD 23,100,000 (USD 695,310) |
|
Legal Representatives: |
Lijuan Chen |
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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: |
Subject was
incorporated on 1995-6-8 with registered number 89545069 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 |
|
Lijuan Chen |
|
|
605,000 |
|
|
Liming Cai |
110,000 |
|
Maorong Lin |
440,000 |
|
Wenkui Liu |
110,000 |
|
Shiming Chen |
110,000 |
|
Xiunai Chenxiao |
275,000 |
Core
Management
Directors
|
1 |
||
|
Name |
Lijuan Chen |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Liming Cai |
|
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Position |
Director |
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|
3 |
||
|
Name |
Maorong Lin |
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Position |
Director |
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|
4 |
||
|
Name |
Wenkui Liu |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Shiming Chen |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Xiunai Chenxiao |
|
|
Position |
Supervisor |
|
Personnel
Structure
|
Total Employees |
About 11 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Subject is a trader of moulds without any production activities.
It is introduced that subject had a factory which
manufactured moulds before, but subject is just a trader of moulds at
present.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
General Import and export trading business (besides
licensed business) |
It is introduced that subject’s major products are mostly
purchased at domestic market.
Subject is engaged in sale of moulds
The major products sold by subject include moulds for
electrical appliances (air conditioners, refrigerators, washing machines,
fans), and furniture products (tables, chairs, crates, closets)
Subject’s sales regions include domestic market, Thailand,
Vietnam, and some countries of Southeast Asia
Subject’s major customers are department stores, furniture
markets, wholesalers, and individuals
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Moulds. |
|
Payment Terms |
T/T, Cash. |
Import
Subject has little import.
Domestic Markets
|
Product |
Moulds |
|
Selling
Terms |
T/T, Cash |
Export
|
Product |
Moulds |
|
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 Ms. Chen
declined to disclose its financials citing the grounds of company’s
confidentiality; from other sources we could not obtain such information,
either.
|
Name |
Chang Hwa Bank |
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. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.10 |
|
UK Pound |
1 |
Rs.100.89 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
|
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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 |
|
|
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.