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MIRA
INFORM REPORT
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Report No. : |
499757 |
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Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
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Name : |
BRIGHTFLEX COMPANY LIMITED |
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Registered Office : |
No.15 Teh Hsing E. Road (3F) Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
30.09.1988 |
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Com. Reg. No.: |
23112800 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in providing the trading services. |
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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 : |
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 : |
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.
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
Notes: The exact name and address are as above.
Company Identification Details
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Registered Name: |
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Registered
Address: |
No.15 Teh Hsing E. Road (3F) Taipei, Taiwan |
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Date of
Foundation: |
1988-09-30 |
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Registration
Number: |
23112800 |
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Registry: |
MOEA Central Office |
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In the Republic
of China Operating Funds: |
NTD 5,000,000
(USD 165,000) |
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Litigation and
Non-litigation Agent's Name: |
Puri Aditi |
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Legal Form: |
Private
Limited Liability Company |
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Listed at Stock
Exchange: |
No
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Date of Last
Annual Return: |
2004-03-25 |
History
Subject was
incorporated on 1988-09-30 with registered number 23112800 in Taiwan.
Corporate Structure
According to the local laws in Taiwan, if a foreign
company wants to establish Branch Company in Taiwan, it should register at
local registry in Taiwan at first, and then accordingly register its branch. In
fact, it is operates through its branch. The registered branch information as
below:
BRANCH
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Registered Name: |
Brightflex Company Limited Taiwan Branch (H.K.) |
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Registered Address: |
No.15 Teh Hsing E. Road (3F) Taipei, Taiwan |
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Date of Foundation: |
1988-10-15 |
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Registration Number: |
23112800 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
N/A |
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Manager: |
Ashiuk
Berry (Literal translation) (Local
language name: 艾修克白瑞) |
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Legal Form: |
Taiwan Office of Brightflex Company Limited |
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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: |
Shareholder
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Name |
Brightflex Company Limited |
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Registration
Number: |
217518 |
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Date
of Foundation: |
1988-06-03 |
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%
of investment |
100% |
Management Information
Core
Management
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Name |
Ashiuk
Berry (Literal translation) |
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Position |
Manager
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Operation Information
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Headquarters |
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Add |
Operation
Information
The
subject is operating through its branch.
Subject
is engaged in providing the trading services.
The
major services include import & export, custom service, customs inspection
and file processing, etc.
It
is introduced that subject has its fixed customers.
It
is introduced that subject is used to help customers buy the textiles, etc.
It
is introduced that the major customers are retailers, etc.
The
registered activities of subject:
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Details |
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General
importing and exporting business. (Besides licensed business) |
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Marking
price and bidding of above product. |
Settlements
Subject declined to disclose the detail settlement
information, and it is introduced that the details of settlements are to be
negotiated.
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 |
Ms. Zhou |
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Note: |
Actually, the information in current report is
same as information in last report on 2015-08-25. These 2 reports are just
different in the expression. If a foreign company wants to establish a Branch
Company in Taiwan, it must file its name in Taiwan local registry
independently first and then accordingly register its branch. In fact, the
precondition of a Branch Company’s registration and operation is to put on
record of the foreign company’s name advanced. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.13 |
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1 |
INR 91.96 |
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Euro |
1 |
INR 80.34 |
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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
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NIY |
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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.