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MIRA INFORM REPORT
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Report No. : |
508918 |
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Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
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Name : |
OLAY INTERNATIONAL COMPANY LIMITED |
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Formerly Known As : |
OLAY TRADING CO., LTD. |
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Registered Office : |
9F., No.21, Ln. 178, Sec. 2, Wenhua 2nd Rd.,
Linkou Dist., New Taipei City 24458, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
30.05.1990 |
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Com. Reg. No.: |
23779473 |
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Legal Form : |
Joint
Stock Company |
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Line of Business : |
Manufacturing and Trading of Dyeing and Finishing Auxiliaries. |
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No. of Employees : |
About 10 employees (Office) About 12 employees (Factory) |
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 (30.09.2017) |
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: |
Olay International Company Limited |
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Supplied Name: |
OLAY INTERNATIONAL CO LTD |
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Trading Address: |
9F., No.21, Ln. 178, Sec. 2, Wenhua 2nd Rd.,
Linkou Dist., New Taipei City 24458, Taiwan (R.O.C.) |
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Supplied Address: |
9F., NO. 21, LN 178, SEC 2, WENHUA 2ND RD LINKOU DISTRICT NEW TAIPEI
24458 CITY |
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Telephone Number: |
+886-2-2602-3961 |
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Fax Number: |
+886-2-2602-7961 |
Note: The exact name and
address are as above.
Company Identification Details
History
Subject
was incorporated on 1990-05-30 with
registered number 23779473 as Joint
Stock Company in Taiwan.
Change of Name
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Former English Name: |
Olay Trading Co., Ltd. |
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Current English Name: |
Olay International Company Limited |
Corporate Structure
Subject did not introduce any
subsidiaries or branches; from other source we could not obtain the relevant
information, either.
Shareholders
Major Shareholders
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Name |
Subscription Shares |
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Zongyu Yang |
637,500 |
| Ziyun Pu |
287,500 |
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Xiufei Yang |
337,500 |
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Xiuqi Yang |
237,500 |
Management Information
Core Management
Directors
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1 |
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Name |
Zongyu Yang |
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Position |
Board Chairman |
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2 |
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Name |
Ziyun Pu |
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Position |
Director |
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3 |
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Name |
Xiufei Yang |
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Position |
Director |
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4 |
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Name |
Xiuqi Yang |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 10 employees (Office) About 12 employees (Factory) |
Operation Information
Offices & Factories
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Headquarters |
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Add |
9F., No.21, Ln. 178, Sec. 2, Wenhua 2nd Rd., Linkou Dist., New Taipei
City 24458, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of dyeing and finishing
auxiliaries, etc.
It is introduced that subject has a factory in Guanyin
Dist., Taoyuan City, Taiwan for
production, but the subject declined to disclose the detailed information to
us.
Purchase Information
The registered activities of subject:
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Business Code |
Details |
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F104110 |
Wholesales of fabric, garment, footwear, caps, umbrellas and
accessories, etc |
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F105050 |
Wholesales of furniture, bedding products, kitchenware and installed
products, etc |
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F107041 |
Wholesales of pesticide |
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F107200 |
Wholesales of chemical materials |
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F204110 |
Retails of fabric, garment, footwear, caps, umbrellas and accessories,
etc |
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F205040 |
Retails of furniture, bedding products, kitchenware and installed
products, etc |
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F207041 |
Retails of pesticide |
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F207200 |
Retails of chemical materials |
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F399990 |
Other Comprehensive Retails |
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F401010 |
International Trading Business |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
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F106010 |
Wholesales of hardware |
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F111090 |
Wholesales of building materials |
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F113010 |
Wholesales of machinery |
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F113020 |
Wholesales of electronic appliance |
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F113030 |
Wholesales of precise instrument |
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F113050 |
Wholesales of computer and Affairs machine and equipment |
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F118010 |
Wholesales of information software |
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F206010 |
Retails of hardware |
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F213010 |
Retails of electronic appliance |
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F213030 |
Retails of computer and Affairs machine and equipment |
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F213040 |
Retails of precise instrument |
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F213080 |
Retails of mechanical appliance |
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F218010 |
Retails of information software |
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A101020 |
Crop Cultivation Industry |
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A101050 |
Floriculture Industry |
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A102020 |
Agricultural finishing industry |
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A102080 |
Gardening services |
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E599010 |
Piping engineering |
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E601010 |
Electrical Bearing outfit industry |
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E601020 |
Electrical Installation Industry |
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E603010 |
Cable installation engineering |
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E603050 |
Automatic control equipment engineering |
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E603080 |
Traffic Signal Installation Engineering |
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E603090 |
Lighting equipment installation engineering |
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E604010 |
Machinery installation industry |
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E605010 |
Computer equipment installation industry |
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E801010 |
Interior decorating businesses |
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E801030 |
Indoor light steel frame engineering |
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EZ05010 |
Instrumentation installation engineering |
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EZ14010 |
Sports field equipment engineering |
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I301030 |
Electronic information supplying services |
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I501010 |
Products design industrial |
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J304010 |
Book Publishing Industry |
The raw materials for production are mostly purchased in
domestic market.
It is introduced that subject’s solvents are purchased from
both home and abroad.
Subject is engaged in sales of
dyeing and finishing auxiliaries, etc.
The major products sold by the subject include softener,
detergent, pigment, runner binder, plastisol and silicon oil, etc.
It is introduced that the subject sells products with the
brand of BENLON.
Subject’s sales regions cover Asia, Europe, America and
Middle East, etc.
Subject’s major customers are manufacturers of textile, etc.
The general delivery lead time of subject is about 15 days.
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 material and solvents,
etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
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Products |
Solvents, etc. |
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Payment Terms |
L/C, T/T, etc. |
Sales
Domestic Markets
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Product |
Dyeing
and finishing auxiliaries, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
Dyeing
and finishing auxiliaries, 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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1 |
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Name |
E.SUN Bank |
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2 |
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Name |
Chang Hwa Bank |
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 |
Mr. Yang |
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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 67.72 |
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1 |
INR 91.65 |
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Euro |
1 |
INR 79.89 |
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TWD |
1 |
INR 2.27 |
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 : |
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
·
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.