3decades

MIRA INFORM REPORT

Report No. :	490232
Report Date :	12.02.2018

IDENTIFICATION DETAILS

Name :	SUN MEDIA ENTERPRISE LTD.

Registered Office :	No. 150-1, Shang Hsin Rd., Nan Tun Dist., Taichung City 40865, Taiwan, R. O. C.

Country :	Taiwan

Date of Incorporation :	31.01.2002

Com. Reg. No.:	13020937

Legal Form :	Private Limited Company

Line of Business :	· Trade of DDR ram, micro SD card, other memory cards and computer storage equipment’s. · Trade of toner, ink, paper cup, copy paper, coffee cup, lumber, pet stroller and pet fiber resin, etc.

No. of Employees :	4

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Medium High Risk

Business dealings permissible preferably on secured basis

Status :	Moderate

Payment Behaviour :	Unknown

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

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Taiwan

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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.

Source : CIA

Verification Remark：

The given address refers to that of subject company’s：

Other：Taipei Office

ESSENTIAL CORPORATE INFORMATION

Registration No.：

13020937

English Company Name：

SUN MEDIA ENTERPRISE LTD.

Registered Address in English：

No. 150-1, Shang Hsin Rd., Nan Tun Dist., Taichung City 40865, Taiwan, R. O. C.

Address of Operating Office：

Same as above

URL：

http://sunmediagroup.tradeindia.com/

E-mail：

Premsawlani31@gmail.com

TEL：

+886-4-22410963

+886-958279004

FAX：

NIL

Established on：

January 31, 2002

No. of Employees：

Business Type：

Manufacturing Service Banking/Financing

NACE Code：

4652

4676

Business Size：

Super Large Large Medium Medium-Small Small

Legal Form：

Private Limited Company

● FACTORY AND BRANCH

Item		Address	Registration No.	Tel.	Fax.
	Taipei Office	No. 137, Jin Long Rd., Neihu Dist., Taipei 11455		+886-2-2795-5522

● AFFILIATE

Subject company claims to have no affiliate.

● HISTORY

Change in Company Name/Form
	Subject company has kept its present name and form since its establishment.

● CAPITAL INCREASE/DECREASE

	Registered capital read NT$500,000 (fully paid-up) at the time of establishment.
Subsequent Capital Increase/Decrease
	YES
	Registered capital read NT$	1,000,000	in	03/	2007	paid up to NT$	1,000,000

● PLAN FOR CAPITAL INCREASE/DECREASE & STOCK LISTING – NIL

● ACTUAL BUSINESS ITEMS/ ACTIVITIES

1.	Trade of DDR ram, micro SD card, other memory cards and computer storage equipment’s.
2.	Trade of toner, ink, paper cup, copy paper, coffee cup, lumber, pet stroller and pet fiber resin, etc.

● MAIN SHAREHOLDERS

Name			Position	Stake (NT$)	Ratio (%)	Note
	Prem Sawlani	顏彼得	Director	1,000,000	100.00
Total No. of Shareholders：1
Source：Information obtained from the Taichung City Government

● CORPORATE SHAREHOLDER OVERVIEW - NIL

● RELATIONSHIP BETWEEN MAIN SHAREHOLDERS

Spouse	Parent/Children	Siblings	Relatives/In-Laws	Schoolmates
Associates	Friends	Members in Same Business Group		Institutional Investors
Others (specified as follows)：Sole Proprietorship

MANAGEMENT（CHAIRMAN AND GENERAL MANAGER）

Director cum General Manager（President）

Name (Chinese)：

顏彼得

English：

Prem Sawlani

Sex：

Male

ID No.：

Declined

Date of Birth：

1953

Place of Birth：

India

Education：

Bachelor from university

Experience：

Declined

Years in Subject Company’s Line of Business：

More than 30 years

Other Business Investments : NIL

Information provided by Mr. Prem Sawlani

● PREMISES

	Registered cum Operating Office：
	The rented premise reports a total floor space of 96.27 square meters and is registered under the name of person with Yen as surname (顏＊＊).
Note：Information related to ownership status of subject premises is obtained from computerized official records issued by local land administration authority.

● MAJOR PRODUCTION FACILITY – NIL

● MORTGAGE RECORD OF MOVEABLE PROPERTIES

	NIL
Source：Information obtained from official records kept by relevant government authorities.

● DOMESTIC SUPPLIERS

Raw Material / Product		Supplier		Payment Term
	Memory cards, Computer storage equipments, Copy paper		Companies in related fields		T/T on 30-60 Days term (100%)

● OVERSEAS SUPPLIERS

Raw Material/ Products		Country/Region
	DDR ram, Micro SD card, Other memory cards, Computer storage equipments	China, Vietnam, India, United States, Ghana, Nigeria, Other African countries
	Payment Terms
	T/T (100%)

● BRAND NAMES OF PRODUCTS LICENSED FOR SALE BY SUBJECT COMPANY

Subject company declines the brand name carried.

● DOMESTIC CUSTOMERS – NIL

● MAIN DOMESTIC SALES CHANNELS – NIL

● OVERSEAS CUSTOMERS

Raw Material/ Products		Country/Region
	Memory cards, Toner, Ink, Paper cup, Copy paper, Coffee cup, Lumber, Pet stroller	China, India and Middle East
	Payment Terms
	T/T (100%)

● OVERSEAS PRODUCTION BASES / SALES OUTLETS

Subject company claims to have no oversea production stations.

● COMPLIANCE WITH LOCAL / INTERNATIONAL STANDARDS – NIL

● BANKERS

	Bank Of Taiwan, Beitun Branch	Account No.：Declined
	Active since：Declined	Current Status：Normal Dishonored
Information provided by Mr. Prem Sawlani

● PAYMENT RECORD

As of Feb. 02, 2018, relevant records obtained from Clearing House indicate：
	No dishonored banking record filed against subject company during the past three years.
	No dishonored banking record filed against subject company’s registered person-in-charge during the past three year.

● STATUS QUALIFIED GOVERNMENT SUPPLIER

	Subject company’s status as a qualified government supplier has not been suspended during the past one year.
Source：Public Construction Commission, Executive Yuan, and relevant government agencies.

● LITIGATION/COURT RECORD

	Subject company has been involved in neither litigation nor legal proceeding during the past two years.
Source：Gazettes by the Judicial Yuan of the Republic of China.

● INTELLECTUAL PROPERTY（PATENT and TRADEMARK）

	No patent and trademark is found registered under the name of subject company.
Source：Intellectual Property Office, Ministry of Economic Affairs, R.O.C.

● OPERATING INCOME 2014~2016（NT$：1,000）

Subject company declines to reveal related information for security reasons.

● TRADE RECORD（USD）

YEAR	TOTAL IMPORT	TOTAL EXPORT
2016	0	0
2015	0-500,000	0
2014	0	0
Source：Public records at Bureau of Foreign Trade

● 01/01~12/31, 2016：BREAKDOWN OF SALES BY PRODUCTS（NT$：1,000）

Subject company declines to reveal related information for security reasons.

● SALES PERFORMANCE 01~11, 2017（NT$：1,000）

－－

● FINANCIAL PROFILE（NT$：1,000）

Subject company declines to reveal related information for security reasons.

● BANK LINE OF CREDIT

NO, subject did not obtain any credit limit.

● CORPORATE RANKING 2014~2016

Subject company is not listed in the Top 1000 Largest Corporation in Taiwan and is not listed in the Directory of Leading Importers and Exporters in Taiwan.

SUMMARY

Subject company’s attitude toward ACIE credit reporting： Wary but generally cooperative
	Subject is specialized in trade of DDR ram, micro SD card, other memory cards, computer storage equipments, toner, ink, paper cup, copy paper, coffee cup, lumber, pet stroller and pet fiber resin, etc.
	Approximately 90.00% of the business products are imported from China, Vietnam, India, United States, Ghana, Nigeria and other African countries, mainly from China. The rest 10.00% products are procured from domestic companies in related fields.
	Subject relies mainly on export sale that accounts for approximately 100.00% of its total business revenues. Major export markets include China, India and Middle East, chiefly to India.
	Subject declines to clarify expectations for the future operating results.
	According to subject company that business has operated for almost years with good reputation and distribution network built over the market. Orders volumes from the beginning of this year show much the same as period of last year and it is expected that sales for this full year will be the same as 2015.
	Financial information is considered as business confidentiality and subject refuses to release them. Secondary source indicates that its self-owned capital appears to be inadequate, load of liabilities and/or loans from shareholders seem to be a bit heavy; short-term solvency is insufficient with low risk tolerance capability for being a sole proprietorship entity. Sales performance in recent years appears to be steady with approximate annual sale revenues around NT$ 1 to 5 millions.

● RESULT OF MEDIA SEARCH

No adverse news or reports related to subject company and its registered person-in-charge have been identified during the past two years.

● OUR COMMENTS

Credit or business dealings with subject company are deemed acceptable while monitoring on a regular basis remains desirable. But not enough information and data could be obtained to facilitate the rating.

● APPENDICES - NIL

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.37
UK Pound	1	INR 89.71
Euro	1	INR 78.89
TWD	1	INR 2.19

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR

Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

ESSENTIAL CORPORATE INFORMATION

MANAGEMENT（CHAIRMAN AND GENERAL MANAGER）

SUMMARY

Unit