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MIRA
INFORM REPORT
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Report No. : |
495633 |
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Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
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Name : |
LIGLORY INTERNATIONAL COMPANY |
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Formerly Known As : |
LIBANA INTERNATIONAL COMPANY |
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Registered Office : |
4F., No.25, Sanjun St., Shulin Dist., New Taipei
City 23864 |
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Country : |
Taiwan |
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Date of Incorporation : |
12.01.1999 |
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Com. Reg. No.: |
16778483 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and sale of
hairsprings and gauges |
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No. of Employees : |
200 |
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 |
Company name and address
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Company Name: |
Liglory International Company |
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Supplied Name: |
LIGLORY INTERNATIONAL COMPANY |
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Trading Address: |
4F., No.25, Sanjun St., Shulin Dist.,
New Taipei City 23864, Taiwan |
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Supplied Address: |
4F NO 25 SANJUN ST SHULIN DIST NEW
TAIPEI CITY 23864 |
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Telephone Number: |
+886-2-2676-1350 |
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Fax Number: |
+886-2-2676-1305 |
Company Identification Details
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Registered Name: |
Liglory International Company |
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Registered Address: |
4F., No.25, Sanjun St., Shulin Dist.,
New Taipei City 23864, Taiwan |
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Date of Foundation: |
1999-01-12 |
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Registration Number: |
16778483 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
NTD 1,000,000 (USD 33,000) |
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Legal Representatives: |
Yigeng Li |
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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 1999-01-12 with registered number 16778483 as Private
Limited Liability Company in Taiwan.
Change of
Name
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Former English Name: |
Libana International Company |
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Current English Name: |
Liglory International Company |
Corporate Structure
Factory
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Address: |
4F., No.25, Sanjun St., Shulin Dist.,
New Taipei City 23864, Taiwan |
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Date of Registration: |
2017-04-17 |
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Factory Registration Number: |
65005850 |
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Factory Manager: |
Yigeng Li |
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Status: |
In Production |
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Date of Last Annual Return: |
2017-04-17 |
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Major Products: |
259 Other metal products |
Related Company
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Name |
Xiamen Libana Meter Co., Ltd. |
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Address |
Second Floor, No.1 Workshop XinyongSheng Industrial Park, Team 6
Dianqian, Huli District, Xiamen, China |
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Tel |
+86-592-562-7212/562-3687 |
Shareholder
Major Shareholder
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Name |
Subscription Amount |
| Yigeng
Li |
1,000,000 |
Management Information
Core
Management
Director
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Name |
Yigeng Li |
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Position |
Director |
Personnel
Structure
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Total Employees |
About 200 Employees |
Operation Information
Offices
& Factories
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Headquarters |
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Add |
4F., No.25, Sanjun St., Shulin Dist., New Taipei
City 23864, Taiwan |
Production
Information
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Subject is engaged in manufacturing of hairsprings and gauges, etc.
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It is introduced that subject has a factory in New Taipei City,
Taiwan for production.
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It is introduced that subject’s producing capacity of hairsprings
are about 50,000,000, about 3,000,000 gauges yearly.
Purchase
Information
The registered activities of subject:
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Business Code |
Details |
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F113030 |
Precision instruments wholesaling |
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F213040 |
Precision instruments retailing |
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F401010 |
The international trade |
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ZZ99999 |
Besides licensed business, all other business items those are
not banned or restricted. |
The components and raw materials for production are purchased both
home and abroad.
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Subject is engaged in sale of hairsprings and gauges, etc.
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The major products are hairsprings, gauge cores, other gauge
equipment and so on.
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It is introduced that subject also provide the assembling, OEM,
ODM services.
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Subject’s sales regions are Taiwan, Japan, Korea, USA, Canada,
Germany, Europe, etc.
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The general delivery lead time of subject is about 60 days.
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Subject’s major customers are manufacturers of chemicals and
energy, 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 |
Components and raw materials |
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Payment Terms |
T/T, Cash, etc. |
Import
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Products |
Components and raw materials |
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Payment Terms |
L/C, T/T, etc. |
Domestic Markets
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Product |
Hairsprings and gauges, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
Hairsprings and gauges, 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.
Banker
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Name: |
Cathay United Bank |
Public Record
Mortgage
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Case Type: |
Chattel Mortgage |
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Registered
Number: |
40-104-424-1(12770) |
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Name of Buyer: |
Liglory
International Company |
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Registry: |
Directorate-General
of Highways, MOTC |
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Name of
Mortgagee: |
Volkswagen
Financial Services Taiwan Limited |
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Date of
Registration: |
2015-03-30 |
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Amount of Secure
Claims: |
NTD 828,600 |
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Type of Mortgage: |
Automobile, Large
machinery, bike and trailer car. |
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. 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 64.92 |
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1 |
INR 90.23 |
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Euro |
1 |
INR 80.54 |
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TWD |
1 |
INR 2.22 |
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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DIV |
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Report Prepared
by : |
KET |
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.