MIRA
INFORM REPORT
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Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
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Name : |
CHING CHI MACHINE CO., LTD. |
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Registered Office : |
13F, No.33, Sec.2, San Min Rd., Banqiao Dist., New Taipei City 220 |
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Country : |
Taiwan |
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Date of Incorporation : |
07.02.1967 |
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Com. Reg. No.: |
33381521 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and trading of sewing machines and machines’ parts, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 30,000 |
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Status : |
Moderate |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Contact Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Credit Summary
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Credit Rating: |
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Credit Opinion: |
Company Identification Details
The staff number
is not available from the subject or other sources.
History
Subject was incorporated on
Awards
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Year |
Awards |
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2007 |
Blue chip importer and exporter |
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2008 |
Blue chip importer and exporter |
Standard of Blue
chip importer and exporter
Unit:
USD
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Year |
Amount |
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2007 |
18,000,000 |
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2008 |
19,000,000 |
Shareholders
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Name |
Subscription
Amount |
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Yaotang Wang |
1,100,000 |
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Yaoping Wang |
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1,100,000 |
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Ruirong Wang |
1,100,000 |
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Qingbo Lin |
50,000 |
Subsidiaries & Branches
Personnel Information
Core
Management
Directors
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1 |
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Name |
Yaotang Wang |
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Position |
Board Chairman |
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2 |
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Name |
Yaoping Wang |
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Position |
Director |
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3 |
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Name |
Ruirong Wang |
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Position |
Director |
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4 |
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Name |
Qingbo Lin |
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Position |
Supervisor |
Operation Information
Offices
& Factories
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Headquarters |
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Add |
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Production
Information
l
Subject is a manufacturer of sewing machines,
motors, and hardwires with some production activities
Purchase
Information
l
The registered activities of subject:
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Business Code |
Details |
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1 |
Manufacturing and trading of sewing machines and machines’ parts |
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2 |
Manufacturing
and repairing of machinery |
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3 |
Manufacture and
trading of motors and metals. |
l
Subject is mainly involved in trading of sewing
machines, motors, hardwires and so on.
l
And subject introduced that they had an office in
Mainland of China, but declined to disclose more details about it.
l
Subject’s selling territory covers Asia, such as
China, Singapore and so on.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
Subject declined to disclose any information on purchase settlements.
Sales
Domestic Markets (Taiwan)
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Sales Terms |
Proportion |
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Sewing machines,
motors, hardwires and so on. |
COB, etc. |
100% |
Export
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Sales Terms |
Proportion |
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Sewing machines,
motors, hardwires and so on. |
T.T in advanced,
L/C, etc. |
100% |
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 Ms Huang declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
Bankers
Subject declined to disclose any information on Banks.
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.
Interview Details
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Name |
Ms Huang |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.27 |
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1 |
Rs.73.34 |
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Euro |
1 |
Rs.64.58 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.