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MIRA INFORM REPORT
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Report No. : |
503485 |
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Report Date : |
18.04.2018 |
IDENTIFICATION DETAILS
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Name : |
KEDING ENTERPRISES CO., LTD. |
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Registered Office : |
1F., No.2, Alley 2, Lane 175, Sec. 2, Fusing
Rd., Xinzhuang Dist., New Taipei City 242, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
22.07.2002 |
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Com. Reg. No.: |
80214519 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sale of Floor, etc |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Taiwan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy that is driven largely by
industrial manufacturing, and especially exports of electronics, machinery, and
petrochemicals. This heavy dependence on exports exposes the economy to
fluctuations in global demand. Taiwan's diplomatic isolation, low birth rate,
rapidly aging population, and increasing competition from China and other Asia
Pacific markets are other major long-term challenges.
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 of that year, 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
uncertain. President TSAI since taking office in May 2016 has promoted greater
economic integration with South and Southeast Asia through the New Southbound
Policy initiative and has also expressed interest in Taiwan joining the
Trans-Pacific Partnership as well as bilateral trade deals with partners such
as the US. These overtures have likely played a role in increasing Taiwan’s
total exports, which rose 11% during the first half of 2017, buoyed by strong
demand for semiconductors.
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 with many economies, including China and
the US, 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 and has also
secured greater market access for its investors on 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 renminbi (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 opportunities for Taiwan’s
economy but also pose challenges as political differences remain unresolved and
China’s economic growth is slowing. President TSAI’s administration has made
little progress on the domestic economic issues that loomed large when she was
elected, including concerns about stagnant wages, high housing prices, youth
unemployment, job security, and financial security in retirement. TSAI has made
more progress on boosting trade with South and Southeast Asia, however, which
may help insulate Taiwan’s economy from a fall in mainland demand should
China’s growth slow in 2018.
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Source
: CIA |
Contact
Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
16F., No.69,
Sec. 2, Guangfu Rd., Sanchong Dist., New Taipei City 241, Taiwan |
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Supplied Address: |
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Telephone Number: |
+886-2-2296-3999 |
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Fax Number: |
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Website: |
Notes: The exact name and address are as above.
Company
Identification Details
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Registered Name: |
Keding Enterprises Co., Ltd. |
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Registered Address: |
1F., No.2, Alley 2, Lane 175, Sec. 2, Fusing
Rd., Xinzhuang Dist., New Taipei City 242, Taiwan (R.O.C.) |
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Date of Foundation: |
2002-7-22 |
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Registration Number: |
80214519 |
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Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
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Registered Capital: |
NTD
800,000,000 (USD 24,000,000) (As of 2018.4, 1 NTD = 0.03 USD) |
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Paid-up Capital: |
NTD 603,900,000
(USD 18,117,000) |
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Legal Representatives: |
Xianzhang Cao |
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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: |
Notes: Subject declined to disclose its staff number; from public sources
we found subject’s staff number is about 1,000 employees, we provided it for
references.
History
Subject was incorporated
on 2002-7-22 with registered number 80214519
as Joint Stock Company in Taiwan.
Corporate
Structure
Factories
|
Address: |
No.10, Dapumei Yuanqu 5th Rd., Dalin Township, Chiayi County 622,
Taiwan |
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Date of Registration: |
2017-4-25 |
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Factory Registration Number: |
10000252 |
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Factory Manager: |
Xianzhang Cao |
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Status: |
In production |
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Date of Last Annual Return: |
2017-4-25 |
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Major Products: |
140 wooden and bamboo products |
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Tel： |
+886-5-295-6799 |
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Fax： |
+886-5- 295-6766 |
Branches or Offices in Taiwan
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Taipei Showroom 16F., No.69, Sec. 2, Guangfu Rd., Sanchong
Dist., New Taipei City 241, Taiwan Tel：+886-2-2296-3999 Fax：+886-2-8511-1216 Taipei Logistics Center / Showroom No.1, Ln. 649, Xinshu Rd., Xinzhuang Dist.,
New Taipei City 243, Taiwan Tel：+886-2-2296-3999 Fax：+886-2- 2900-7622 Taipei City Furniture Showroom No.111, Sec. 1, Xinsheng S. Rd., Da’an
Dist., Taipei City, Taiwan Tel：+886-2-7703-5289 Fax：+886-2- 2731-8198 Hsinchu Branch / Showroom 2F., No.456, Fuxing Rd., Zhubei City,
Hsinchu County, Taiwan Branch Tel:+886-3-621-3233 Fax:+886-3- 656-8007 Show. Tel:+886-3-656-8006
Fax:+886-3-656-8007 Taichung Branch / Showroom No.422, Sec. 4, Yatan Rd., Daya
Dist.,Taichung City 428, Taiwan Tel:+886-4-2425-7600 Fax:+886-4- 2568-2515 Taichung Logistics Center No.2, Ln. 430, Sec. 4, Yatan Rd., Daya
Dist.,Taichung City 428, Taiwan Tel：+886-4-2425-7600 Fax：+886-4-2568-2515 Tainan Branch No.18, Zhengnan 8th St., Yongkang Dist.,
Tainan City 710, Taiwan Tel：+886-6-253-1600 Fax：+886-6-253-1612 Tainan Logistics Center No.18, Zhengnan 8th St., Yongkang Dist., Tainan
City 710, Taiwan Tel：+886-6-253-1600 Fax：+886-6-253-1612 Kaohsiung Branch / Showroom 4F., No.10, Mingcheng 4th Rd., Gushan Dist.,
Kaohsiung City 804, Taiwan Tel：+886-7- 550-5708 Fax：+886-7-550-3997 |
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Major Related
Companies
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1 |
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Name: |
Keding (Shanghai) Trading Co., Ltd. |
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Address: |
2F, No. 843, Yuyuan Rd., Changning Dist.(Area), Shanghai City, China |
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Tel: |
+86-21-6252-2989 |
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Fax: |
+86-21-6252-3006 |
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2 |
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Name: |
Keding (Hong Kong) Enterprises Ltd. |
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Address: |
Room 3001, 11/F, AXA Centre, No.151, Gloucester Rd., Wanchai, Hong
Kong |
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Tel: |
+852-3689-0417 |
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Fax: |
+852-3689-0418 |
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3 |
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Name: |
KD North America, Inc. |
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Address: |
94 North 3rd Street, Brooklyn, NY 11249 USA |
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Tel: |
+1-718-599-0155 |
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Fax: |
+1-718-599-0113 |
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4 |
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Name: |
Keding Enterprises Pte. Ltd. |
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Address: |
8 Burn Road #05-16 Trivex Singapore 369977 |
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Tel: |
+65-6250-5450 |
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Fax: |
+65-6250-5452 |
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5 |
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Name: |
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Address: |
366 N. Broadway, Suite 410, Jericho, NY
11753 USA |
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Tel: |
+1-516-627-1971 |
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6 |
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Name: |
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Address: |
366 N. Broadway, Suite 410, Jericho, NY
11753 USA |
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Tel: |
+1-516-627-1971 |
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7 |
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Name: |
Philippine and Scandinavian Design, FILTRA
Inc. |
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Address: |
5/F Yupangco Building 339 Sen. Gil Puyat
Ave. corner N. Garcia Str. Makati City 1209 -
Philippines |
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Tel: |
+632 478 6888 |
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8 |
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Name: |
Interwood Timber Co., Ltd. |
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Address: |
4 SOI Ramkhamhaeng 166 Yak3. Minburi Bangkok
10510 |
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Tel: |
+66 2 917-5621-5 |
Shareholders
Major Shareholders
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Name |
Subscription Shares |
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Xianzhang Cao |
8,683,382 |
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Tianhua Huang |
3,286,000 |
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Meiyun Chen |
2,850,000 |
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Shufen Huang |
875,626 |
Management
Information
Core Management
Directors
Operation
Information
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Headquarters |
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Add |
No.16, Lane 287, Sec. 5, Xinbei Road, Taishan District, New Taipei
City, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of floors, etc.
It is introduced that subject has a factory in Taiwan for products ion.
Subject obtained the certifications of ISO 9001 and ISO 14001.
Purchase Information
The registered activities of subject:
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Business Code |
Details |
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C501010 |
Lumber industry |
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C501030 |
Manufacturing of plywood |
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C501040 |
Manufacturing of composite wood |
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E801010 |
Interior decorating business |
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E901010 |
Paint works |
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F120010 |
Wholesale of fireproofing |
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F401010 |
International trade business |
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F106010 |
Wholesale of hardware |
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F206010 |
Retail of hardware |
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C501990 |
Manufacturing of other wood products |
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EZ99990 |
Other engineering business |
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F107190 |
Wholesale of plastic film and bag |
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F111090 |
Wholesale of building materials |
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F207190 |
Retail of plastic film and bag |
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F211010 |
Retail of building materials |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
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H701010 |
Development and rent of residence and building |
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H701020 |
Development and rent of industrial premises |
Subject purchases its raw materials and etc both at home and abroad.
It is introduced that subject purchases in the mainland of China.
It is introduced that subject imports from other Asia countries, America
and etc.
It is introduced that “Cherry Forest Products” is one of subject’s major
suppliers.
Subject is engaged in sale of floors, etc.
It is introduced that subject’s major products include wooden panels,
wooden floors, interior wood doors and etc.
Subject’s selling territory includes Asia, Europe, America and etc.
It is introduced that subject has showrooms in Taipei, Taichung and
Kaohsiung, Taiwan Shanghai, Beijing, Shenzhen and Chongqing, the mainland of
China, etc.
Subject’s major customers are interior decorating industry and etc.
Subject has its own brand “Kd”.
It is introduced that subject has many customers such as J Y and E Co.
and etc.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
Domestic Purchase
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Products |
Raw materials and etc |
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Payment Terms |
Cash, T/T, etc |
Import
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Products |
Raw materials and etc |
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Payment Terms |
T/T, etc |
Sales
Domestic Markets
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Product |
Floors, etc |
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Selling Terms |
Cash, T/T, etc |
Export
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Product |
Floors, etc |
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Selling Terms |
L/C, T/T, etc |
Financial
Information
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. Su declined to
disclose its financials citing the grounds of company’s confidentiality; from
other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public
Record
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.
Special
Note
Interview Details
|
Name |
Ms. Su |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.61 |
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|
1 |
INR 94.21 |
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Euro |
1 |
INR 81.32 |
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TWD |
1 |
INR 2.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRA |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.