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MIRA INFORM REPORT
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Report No. : |
507785 |
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Report Date : |
11.05.2018 |
IDENTIFICATION DETAILS
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Name : |
A.A. GLOBAL LIMITED |
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Registered Office : |
Global Plaza, 7F, No.88, Nei Hu Rd., Sec.1,
Taipei, R.O.C. |
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Country : |
Taiwan |
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Date of Incorporation : |
27.07.1989 |
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Com. Reg. No.: |
23432655 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of Fancy Yarn. |
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No. of Employees : |
About 350 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 : |
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 |
Contact
Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
7F, Global Plaza, No.88, Nei Hu Rd., Sec.1,
Taipei, Taiwan, R.O.C. |
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Supplied Address: |
GLOBAL PLAZA, 7F., 88, NEI HU RD.,SEC.1, TAIPEI 114,
TAIWAN, R . O . C |
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Telephone Number: |
+886-2-87975858 |
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Fax Number: |
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E-mail: |
Notes: The exact name and
address are as above.
Company
Identification Details
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Registered Name: |
A.A. Global Limited |
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Registered Address: |
Global Plaza, 7F, No.88, Nei Hu Rd., Sec.1, Taipei, Taiwan, R.O.C. |
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Date of Foundation: |
1989-07-27 |
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Registration Number: |
23432655 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 69,000,000 (USD
2,277,000) (As of 2018.5, 1 NTD = 0.033 USD) |
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Paid-up Capital: |
NTD 69,000,000 (USD 2,277,000) |
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Legal Representatives: |
Jianyou Wu |
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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 1989-07-27 with registered number 23432655 as Joint Stock Company in
Taiwan.
Corporate
Structure
Related Companies
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1 |
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Name |
AA Global China
Ltd. |
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Address: |
Fanzhong Rd.,
Kesha Village, Minzhong Town, Zhongshan , Guandong , China |
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Tel: |
+86-760-85573800 |
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Fax: |
+86-760-85573811 |
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2 |
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Name |
AA Global China
Ltd. Shanghai Branch office |
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Address: |
Room H-609, 6F,
ShanghaiMart, No.2299 YanAn Road West, Shanghai , China 200336 |
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Tel: |
+86-21-51183708 |
Shareholders
Major Shareholders
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Name |
Subscription Shares |
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Jianyou Wu |
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4,612,000 |
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Shouli Wu |
70,000 |
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Renwei Guo |
2,168,000 |
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Luze Gan |
50,000 |
Management
Information
Core Management
Directors
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1 |
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Name |
Jianyou Wu |
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Position |
Board Chairman |
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2 |
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Name |
Shouli Wu |
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Position |
Director |
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3 |
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Name |
Renwei Guo |
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Position |
Director |
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4 |
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Name |
Luze Gan |
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Position |
Supervisor |
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Personnel
Structure
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Total Employees |
About 350
Employees |
Operation
Information
Offices &
Factories
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Headquarters |
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Add |
7F, Global
Plaza, No.88, Nei Hu Rd., Sec.1, Taipei, Taiwan, R.O.C. |
Production
Information
Subject is a trader
of fancy yarn, etc. without any production activities.
Subject’s related company
has a factory in Zhongshan City, Guangdong Province, China for production.
Subject obtained
the certification of REACH
Purchase
Information
The
registered activities of subject:
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Business Code |
Details |
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General import and
export, except for the futures |
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Sales of textile
raw materials finished semi-finished gauze garments |
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Agent the
bidding, quotation and sales business of the above related products both home
and abroad |
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C306010 |
Garments |
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F104020 |
Garments
wholesale |
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F204020 |
Garments retail |
The products are
mostly purchased from subject’s related company in Mainland China.
Subject is engaged in sales of fancy yarn, etc.
The products are
mainly applied for textiles.
Subject’s sales
regions include Southeast Asia, America and Europe, etc.
Subject’s major
customers are GAP, M & S, Next, Arcadia group, Zara, Mango, Esprit, Ann
Taylor, Gap and Urban Outfitters, 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 |
Fancy yarn, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
Subject has little import.
Domestic Markets
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Product |
Fancy yarn, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
Fancy yarn, 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 |
Hua Nan
Commercial Bank Limited |
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. Luo |
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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 67.38 |
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1 |
INR 91.39 |
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Euro |
1 |
INR 79.89 |
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TWD |
1 |
INR 2.26 |
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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VAR |
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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
·
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
·
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.