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MIRA INFORM REPORT
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Report No. : |
487191 |
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Report Date : |
27.01.2018 |
IDENTIFICATION DETAILS
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Name : |
TSAI SEE ENTERPRISE CO., LTD. |
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Registered Office : |
No.580, Hua 1st St., Daliao Dist., Kaohsiung
City 831, (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
10.08.1976 |
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Com. Reg. No.: |
83452628 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Processing and Sale of Steel Products. |
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No. of Employees : |
About 100 employees |
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 : |
No Complaints |
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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 |
Contact
Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.580, Hua 1st
St., Daliao Dist., Kaohsiung City 831, Taiwan (R.O.C.) |
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Supplied Address: |
580 Hua 1st St.,
Da Liao Dist., Kaohsiung, Kaohsiung Shih, 83163, Taiwan |
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Telephone Number: |
+886-7-7876939 |
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Fax Number: |
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E-mail: |
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Website: |
Note: The exact name and address are as above.
Company
Identification Details
History
Subject was incorporated
on 1976-8-10 with registered number 83452628
as Joint Stock Company in Taiwan.
Corporate
Structure
Factory
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Address: |
No.580, Hua 1st St., Daliao Dist., Kaohsiung
City 831, Taiwan (R.O.C.) |
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Date of Foundation: |
1990-12-31 |
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Date of Registration: |
1990-12-31 |
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Factory Registration Number: |
99664012 |
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Factory Manager: |
Shidong Chen |
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Status: |
In production |
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Date of Last Annual Return: |
2015-11-10 |
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Major Products: |
254 metal processing 303 car parts 312 locomotives and their parts 313 bicycles and their parts |
Shareholders
Major Shareholders
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Name |
Subscription Shares |
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Shidong Chen |
3,046,538 |
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Zhenghan Chen |
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2,524,614 |
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Lijie Chen |
1,791,170 |
Management
Information
Core Management
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1 |
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Name |
Shidong Chen |
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Position |
Board Chairman |
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2 |
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Name |
Zhenghan Chen |
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Position |
Director |
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3 |
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Name |
Lijie Chen |
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Position |
Director |
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4 |
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Name |
Jiahui Lin |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 100 employees |
Operation
Information
Offices & Factories
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Headquarters |
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Add |
No.580, Hua 1st St., Daliao Dist., Kaohsiung City 831, Taiwan (R.O.C.) |
Production Information
Subject is engaged in processing and sale of steel products, etc.
Subject has a processing plant in Taiwan.
Subject obtained the certification of ISO 9001:2008.
Purchase Information
The registered activities of subject:
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Business Code |
Details |
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C501990 |
Manufacturing of other wood products |
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CA01050 |
Steel
secondary processing |
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CB01010 |
Manufacturing of mechanical equipment |
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CD01030 |
Manufacturing of automobile and components |
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CD01040 |
Manufacturing of motor and components |
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CD01050 |
Manufacturing of bicycle parts |
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F101130 |
Wholesale of fruit &
vegetable |
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F101990 |
Wholesale of other agriculture, livestock and aquatic products |
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F102040 |
Wholesale of drink |
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F102170 |
Wholesale of food and miscellaneous goods |
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F103010 |
Wholesale of feed |
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F106010 |
Wholesale of hardware |
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F108040 |
Wholesale of cosmetic |
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F111090 |
Wholesale of building Materials |
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F113010 |
Wholesale of machinery |
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F114030 |
Wholesale of car and
motorcycle parts |
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F114040 |
Retail of bicycle parts |
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F199990 |
Other wholesale industries |
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F201010 |
Retail of agricultural products |
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F201990 |
Retail of other agriculture and aquatic products |
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F202010 |
Retail of feed |
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F203010 |
Retail of food and drink |
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F206010 |
Retails of hardware |
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F208040 |
Retail of cosmetic |
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F211010 |
Retail of construction material |
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F213080 |
Retail of mechanical appliances |
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F214030 |
Retailing of automobile and motor components |
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F214040 |
Retail of bicycle and its parts |
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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. |
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CA01020 |
Steel rolling and extrusion |
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CA02010 |
Manufacturing
of metal structure and architectural components |
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CA02990 |
Manufacturing of other metal products |
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F102030 |
Wholesale of tobacco and alcohol |
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F203020 |
Retail of tobacco and alcohol |
It is introduced that the subject’s products
are mostly purchased in Taiwan domestic market and Mainland China.
Subject’s major suppliers are Yieh-Hsing Group
and China Steel Corp.
Subject is engaged in sale of steel
products, etc.
The subject’s major products include steel coils, steel sheet and steel
plate, etc.
It is introduced that the subject’s products are mostly applied to
manufacture of transportation equipment, electronic parts, office equipment,
medical device, building materials and hardware, etc.
The subject can offer a range of processing service, including of
cutting, clipping and stamping of steel, etc.
Subject’s sales regions cover Asia, Europe and America, 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 |
Steel products, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
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Products |
Steel products, etc. |
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Payment Terms |
L/C, T/T, etc. |
SALES
Domestic Markets
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Product |
Steel products, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
Steel products, 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
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Name |
Mega International Commercial Bank |
Public
Record
Mortgage
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Case Type: |
Chattel Mortgage |
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Registered Number: |
G(ZH)DZD089417 |
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Debtor Name: |
Tsai See Enterprise Co., Ltd. |
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Registry: |
Economic Development Bureau
of Kaohsiung City Government |
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Name of Mortgagee: |
Hua Nan Commercial Bank |
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Date of Registration: |
2006-12-8 |
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Amount of Mortgage: |
NTD 16,200,000 |
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Type of Subject Matter: |
Machine equipment or tools |
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 |
Ms. Li |
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Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.50 |
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1 |
INR 90.92 |
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Euro |
1 |
INR 79.07 |
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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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VIV |
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Report Prepared
by : |
NIT |
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
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.