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MIRA INFORM REPORT
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Report No. : |
507855 |
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Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
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Name : |
DAYI AGRITECH CO., LTD. |
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Registered Office : |
9F.-6, No.164, Sec. 4, Nanjing E. Rd., Songshan
Dist., Taipei City 10553 |
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Country : |
Taiwan |
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Date of Incorporation : |
09.12.2011 |
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Com. Reg. No.: |
53561867 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Processing and sale of fertilizers |
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No. of Employees : |
250 [Group] |
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.
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 |
NOTE
In absence of
financials, no credit limit could be recommended.
COMPANY
NAME AND ADDRESS
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Company Name: |
Dayi Agritech Co., Ltd. |
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Supplied Name: |
Dayi Agritech Co. Ltd |
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Trading Address: |
9F.-6, No.164, Sec. 4, Nanjing E. Rd., Songshan
Dist., Taipei City 10553, Taiwan |
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Supplied Address: |
9F-6, No.164, Sec.4, Nanjing E.RDE, Songshan Dist.,
Taipel City 10553, Taiwan |
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Telephone Number: |
+886-2-2579-6486 |
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Fax Number: |
+886-2-2577-8402 |
Company
Identification Details
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Registered Name: |
Dayi Agritech Co., Ltd. |
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Registered Address: |
9F.-6, No.164, Sec. 4, Nanjing E. Rd., Songshan
Dist., Taipei City 10553, Taiwan |
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Date of Foundation: |
2011-12-9 |
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Registration Number: |
53561867 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 159,688,000 (USD 5,429,392) |
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Paid-up Capital: |
NTD 159,688,000 (USD 5,429,392) |
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Legal Representatives: |
Bangxian Liu |
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Legal Form: |
Joint Stock Company |
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Principal Activities: |
Processing and sale of fertilizers. |
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Staff: |
About 250 Employees (Group) |
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Listed at Stock Exchange: |
No |
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Date
of Last Annual Return: |
2017-12-18 |
History
Subject was incorporated on 2011-12-9 with
registered number 53561867 as Joint Stock Company in Taiwan.
Corporate
Structure
Factory
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Address: |
No.
6, Yanfa 1st Road, Dehe Village, Changzhi Town, Pingtung County,
Taiwan |
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Date
of Registration: |
2014-12-31 |
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Factory
Registration Number: |
81100046 |
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Factory Manager: |
Bangxian Liu |
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Status: |
In
Production |
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Date of Last Annual Return: |
2014-12-31 |
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Major Products: |
183
fertilizer |
Branch
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Name
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Dayi
Agritech Co., Ltd. Nongke Branch |
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Registration
Number |
27680542 |
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Address
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No.
6, Yanfa 1st Road, Dehe Village, Changzhi Town, Pingtung County,
Taiwan |
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Date
of Registration |
2012-11-29 |
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Status
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Live
Company |
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Manager
Name |
Bangxian
Liu |
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Date
of Last Annual Return |
2014-5-7 |
Related Company
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Name
|
Da
Han Hortitech Co., Ltd. |
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Registration
Number |
9F-8,
NO.164, Nanking E RD., SEC. 4,Taipei, Taiwan |
Shareholders
Major
Shareholders
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Name |
Subscription Shares |
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Bangxian Liu |
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4,600,000
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Xiumei
Zeng |
4,600,000
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Mingda
Liu |
4,355,000
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Management
Information
Core
Management
Directors
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1 |
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Name |
Bangxian
Liu |
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Position |
Chairman
of the Board |
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2 |
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Name |
Xiumei
Zeng |
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Position |
Director
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3 |
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Name |
Mingda
Liu |
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Position |
Director |
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4 |
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Name |
Mingzhang
Liu |
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Position |
Supervisor
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Personnel
Structure
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Total
Employees |
About 250 Employees (Group) |
Operation
Information
Offices
& Factories
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|
Headquarters |
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Add |
9F.-6, No.164, Sec. 4, Nanjing E. Rd., Songshan
Dist., Taipei City 10553, Taiwan |
Production
Information
Subject
is engaged in processing of fertilizer, etc.
Subject
has a plant in Taiwan for stirring and processing of the fertilizer.
Purchase
Information
The
registered activities of subject:
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Business
Code |
Details |
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F101100
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Wholesale
flower industry |
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F107050
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Wholesale
of fertilizer |
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F107200
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Wholesale
of chemical raw materials |
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F109070
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Culture
and education, Musical Instruments, recreational supplies wholesale |
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F201070
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Flower
retail |
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F207050
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Fertilizer
retail |
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F401010
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The
international trade |
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A101020
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Crop
cultivation industry |
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A101030
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With
crop cultivation industry |
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A101040
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Edible
mushroom cultivation industry |
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A101050
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Floriculture |
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A102050
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Crop
cultivation in services |
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A102080
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Gardening
services |
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A199990
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Other
Farming |
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C801110
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Manufacturing
of fertilizer |
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I503010
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Landscape,
interior design industry |
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ZZ99999
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Besides
licensed business, all other business items those are not banned or
restricted. |
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A101011
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Seed
industry |
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F101100
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Wholesale
flower industry |
The
raw materials for processing are mostly purchased both at home and from abroad.
It
is introduced that subject purchases some sprouts from Japan, etc.
Sales
Information
Subject
is engaged in sale of fertilizer, etc.
The
major products include fertilizer for plants, sprouts, potted flowers,
cultivation medium, etc.
It
is introduced that subject has related company in Guangzhou City, the Mainland
of China for sale service.
Subject’s
sales regions are Taiwan, the Mainland of China, Japan, Southeast Asia, etc.
Subject’s
major customers are florists, flower shops, 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 |
Raw materials, sprouts, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials, sprouts, etc. |
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Payment Terms |
L/C, T/T, etc. |
Sales
Domestic
Markets
|
Product |
Fertilizer,
etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
Fertilizer,
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
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Case Type: |
Chattel Mortgage |
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Registered Number: |
00011 |
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Debtor Name: |
Dayi Agritech Co., Ltd. |
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Registry: |
Pingtung Agricultural
Biotechnology Park |
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Name of Mortgagee: |
Agricultural Bank of Taiwan
Co., Ltd. |
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Date of Registration: |
2017-1-17 |
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Amount of Secure Claims: |
NTD 50,400,000 |
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Type of Mortgage: |
Machinery equipment and tools
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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. Zhang |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.38 |
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|
1 |
INR 91.09 |
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Euro |
1 |
INR 79.75 |
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TWD |
1 |
INR 2.25 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VAR |
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Report Prepared
by : |
SYL |
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
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
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.