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MIRA INFORM REPORT
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Report No. : |
489787 |
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Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
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Name : |
FIRSTINFO TOOLS CO., LTD. |
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Registered Office : |
No.15, Ln. 121, Anning St., Annan
Dist., Tainan City 70957, (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
15.01.2010 |
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Com. Reg. No.: |
25156845 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is a trader of auto repair
tools. |
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No. of Employees : |
8 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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.
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. Domestic economic issues loomed large in public debate ahead of the January 2016 presidential and legislative elections, including concerns about stagnant wages, high housing prices, youth unemployment, job security, and financial security in retirement.
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Source
: CIA |
Company
name and address
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.15,
Ln. 121, Anning St., Annan Dist., Tainan City 70957, Taiwan (R.O.C.) |
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Supplied Address: |
No.
15, Lane 121 Anning Street Annan Dist, Tainana 70957 Taipei Taipei Shih/
Taipei Hsien |
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Telephone Number: |
+886-6-258-6129 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address
are as above.
Company
Identification Details
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Registered Name: |
Firstinfo Tools Co., Ltd. |
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Registered Address: |
No.15, Ln. 121, Anning St., Annan
Dist., Tainan City 70957, Taiwan (R.O.C.) |
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Date of Foundation: |
2010-1-15 |
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Registration Number: |
25156845 |
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Registry: |
Tainan City Government |
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Registered Capital: |
(As of 2018.2, 1 NTD = 0.034 USD) |
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Legal Representatives: |
Tingjun Wang |
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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: |
History
Subject
was incorporated on 2010-1-15 with registered number 25156845 as Private
Limited Liability Company in Taiwan.
Corporate
Structure
Subject did not register any subsidiaries or branches; from other
source we could not obtain the relevant information, either.
Shareholder
Major Shareholder
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Name |
Subscription Amount |
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Tingjun Wang |
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1,000,000 |
Management
Information
Core Management
Director
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Name |
Tingjun Wang |
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Position |
Director |
Personnel Structure
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Total Employees |
About 8 employees |
Operation
Information
Offices & Factories
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Headquarters |
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Add |
No.15, Ln.
121, Anning St., Annan Dist., Tainan City 70957, Taiwan (R.O.C.) |
Production Information
Subject is a trader of auto repair tools, etc. without any
production activities.
Purchase Information
The registered activities of subject:
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Business Code |
Details |
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F106010 |
Wholesale of hardware |
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F109070 |
Wholesale of cultural, educational, musical appliance |
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F113010 |
Wholesale of machinery |
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F114030 |
Wholesale of automobile parts |
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F119010 |
Wholesale of electronic materials |
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F401010 |
International trade |
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ZZ99999 |
Besides licensed business, all other business items those are
not banned or restricted. |
The products are mostly purchased at Taiwan local market.
Subject is engaged in sale of auto
repair tools, etc.
The major products are protective sockets, cooling system tools,
fender reforming tools, bearing separator, metal forming tools, LED flashlight
& inspection mirror, timing belt tools, gear puller tools and so on.
It is introduced that subject has its own brand named “FIT TOOLS”.
Subject’s sales regions are Asia, Middle East, Europe, Africa,
North America, Central America, South America, Oceania, etc.
Subject’s major customers are from automotive service company,
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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Auto repair tools, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
Subject has little import.
Domestic Markets
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Product |
Auto repair tools, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
Auto repair tools, 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 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
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Name |
Mr. Wang |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.37 |
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1 |
INR 89.71 |
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Euro |
1 |
INR 78.89 |
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TWD |
1 |
INR 2.19 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
TRU |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
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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.