|
Report No. : |
342671 |
|
Report Date : |
29.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
E.C.I. ELASTIC CO., LTD. |
|
|
|
|
Registered Office : |
No.16, Shin-Yeh Road, Sanbian Village,
Fu-Shin Township, Changhua, R.O.C. |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
13.12.1975 |
|
|
|
|
Com. Reg. No.: |
59175568 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of Female Shoulder Strips. |
|
|
|
|
No. of Employees : |
About 600 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.16, Shin-Yeh
Road, Sanbian Village, Fu-Shin Township, Changhua, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-4-768-3501 |
|
Fax Number: |
Notes: the exact name and address are as above.
Subject was incorporated
on 1975-12-13 with registered number 59175568
as Joint Stock Company.
Factories
|
1 |
|
|
Name: |
Zhangbin Factory |
|
Address: |
No. 12, Gongye W. 6th RD, Lugang Town, Changhua, Taiwan. R.O.C. |
|
Tel: |
+886-4-781-3001 |
|
Fax: |
+886-4-781-3123 |
|
E-mail: |
|
|
2 |
|
|
Name: |
The 2nd Fu Shin Factory |
|
Address: |
22 Shin Yeh Road, Fu Shin, Changhua, Taiwan, R.O.C. |
|
Tel: |
+886-4-769-6001/769-8701 |
|
Fax: |
+886-4-769-7801/8801 |
|
E-mail: |
|
Related Companies
|
1 |
|
|
Name |
E.C.I. Elastic(Korea) Co., Ltd. |
|
Address |
IT Castle 2-1001, 550-1 Gasan-dong, Geumcheon-gu, Seoul 153-803 Korea |
|
Tel |
+82-2-2026-8558 |
|
Fax |
+82-2-2026-8555 |
|
E-mail |
|
|
2 |
|
|
Name |
Vietnam E.C.I. Elastic Co., Ltd. |
|
Address |
Avenue D1-2-1, Da Deng Industrial Park, Thu Dau Mot Town, Binh Duong
Province, Vietnam |
|
Tel |
+84-650-3631911 |
|
Fax |
+84-650-3631918 |
|
E-mail |
|
|
3 |
|
|
Name |
Zhuhai E.C.I. Elastic Co., Ltd.
|
|
Address |
Rm. 301, No.2, Lane 155, Lian-Hua South Road, Mei-long Town, Minhang
District , Shanghai, China. |
|
Tel |
+86-021-5481-4899 |
|
Fax |
+86-021-5481-4809 |
|
4 |
|
|
Name |
Zhuhai E.C.I. Elastic Co., Ltd. (Xiamen Office) |
|
Address |
Rm. 201C, Building G, No.500, Xinglong Road, Huli District, Xiamen
City, China. |
|
Tel |
+86-592-571-5703 |
|
Fax |
+86- 592-571-5702 |
|
5 |
|
|
Name |
P.T. Indonesia E.C.I. (Indonesia) |
|
Tel |
+62-5579-2643 |
|
Cell Phone |
+62-818769992 |
Major Shareholders
|
Name |
Subscription Shares |
|
Chen Jianglin |
|
|
5,867,858 |
|
|
Yang Cuilan |
3,623,687 |
|
Yang Boshuan |
1,065,239 |
|
Chen Shuwan |
1,369,390 |
|
Yang Bokai |
1,276,768 |
Core Management
Directors
|
1 |
||
|
Name |
Chen Jianglin |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Yang Cuilan |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Yang Boshuan |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Chen Shuwan |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Yang Bokai |
|
|
Position |
Supervisor |
|
Personnel Structure
|
Total Employees |
About 600 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.16, Shin-Yeh Road, Sanbian Village, Fu-Shin Township, Changhua,
Taiwan, R.O.C. |
Production Information
Subject is engaged in manufacturing of female underwear shoulder straps,
etc.
Subject has factories in Taiwan for production.
Subject obtained the certification of ISO 9001:2000 and OEKO-TEX100.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and sales of knitwear and raw material |
|
-- |
Plastic products manufacturing, processing and sales |
|
-- |
Manufacturing, processing and sales of needle car, motorcycle,
electric fan, refrigerator, TV, acoustics, camera and so on die casting
machine parts |
|
-- |
manufacturing, processing and buying and sales of shoulder straps,
piping, knitting lace, jacquard belt, wide sideband and elastic band |
|
-- |
All related products import and export trade business |
|
C301010 |
The spinning industry |
|
C399990 |
Other textiles and textile products manufacturing (lace) |
|
C307010 |
Garment accessories manufacturing |
|
C305010 |
Printing and dyeing finishing industry |
The raw materials for production are purchased from both home and
abroad.
Subject is engaged in sales of female
underwear shoulder straps, etc.
The major products are shoulder straps, wire casting tape, mesh,
spaghetti straps, decoration tape, piping, waistband, fold-over and binding
tape for female underwear, etc.
Subject’s sales regions include domestic market, Southeast Asia, America
and Europe, etc.
Subject’s major customers are manufacturers of women underwear, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
Female shoulder straps, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Female shoulder straps, 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
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
104726 |
|
Debtor Name: |
E.C.I. Elastic Co., Ltd. |
|
Document Number: |
10030370980 |
|
Date of Registration: |
2011/9/26 |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
068013 |
|
Debtor Name: |
E.C.I. Elastic Co., Ltd. |
|
Document Number: |
577263 |
|
Date of Registration: |
2000/10/23 |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
102528 |
|
Debtor Name: |
|
|
Document Number: |
10030300120 |
|
Date of Registration: |
2011/1/3 |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
109953 |
|
Debtor Name: |
E.C.I. Elastic Co., Ltd. |
|
Document Number: |
10331035640 |
|
Date of Registration: |
2014/6/20 |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
097466 |
|
Debtor Name: |
E.C.I. Elastic Co., Ltd. |
|
Document Number: |
09830444820 |
|
Date of Registration: |
2009/6/3 |
|
6 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
095837 |
|
Debtor Name: |
E.C.I. Elastic Co., Ltd. |
|
Document Number: |
09730407850 |
|
Date of Registration: |
2008/10/6 |
|
7 |
|
|
Case Type: |
Chattel Mortgage |
|
File No.: |
110589 |
|
Debtor Name: |
E.C.I. Elastic Co., Ltd. |
|
Document Number: |
10331062360 |
|
Date of Registration: |
2014/10/20 |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
|
Name |
Mr. Chen |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.08 |
|
|
1 |
Rs.100.32 |
|
Euro |
1 |
Rs.73.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared by
: |
NIT |
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.