MIRA INFORM REPORT
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Report Date : |
22.07.2011 |
IDENTIFICATION DETAILS
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Name : |
IPRO TECHNOLOGY INC. |
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Registered Office : |
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Country : |
Taiwan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.06.2005 |
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Com. Reg. No.: |
27824490 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale of Electronic circuits |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually 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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Taiwan |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
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
Credit
Summary
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Credit Rating: |
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Credit Opinion: |
Company Identification
Details
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Registered Name: |
Ipro Technology
Inc. |
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Registered
Address: |
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Date of
Foundation: |
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Registration
Number: |
27824490 |
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Registry: |
MOEA Central
Office |
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Registered
Capital: |
(As of 2011.07, 1
NTD = 0.03464 USD) |
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Paid-up Capital: |
NTD 30,000,000
(USD1,039,170) |
|
Legal
Representatives: |
Dawei Huang |
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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: |
The staff number is not available from the
subject or other sources.
History
Subject was incorporated on
Shareholders
|
Subscription
Number |
|
|
Dawei
Huang |
12,375,000 |
|
Shuyuan Chen |
|
|
9,000,000 |
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|
Yahui
Wang |
5,625,000 |
|
Xinyao
Huang |
1,200,000 |
The information above is that of subject’s
major shareholders.
Subsidiaries &
Branches
Subsidiary
Companies
|
Name |
Tainan Office |
|
Address |
No.2, Lane 32, Chung Cheng 1st. Str., Yung
Kang City, Tainan Hsien, 71066 Taiwan |
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Telephone Number |
+886 6-243-6053 |
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Fax: |
+886-6-335-1391 |
Personnel
Information
Core Management
|
1 |
|
|
Name |
Dawei Huang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Shuyuan Chen |
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Position |
Director |
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3 |
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|
Name |
Yahui Wang |
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Position |
Director |
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4 |
|
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Name |
Xinyao Huang |
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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 Electronic circuits with some
production activities
Purchase Information
l
The
registered activities of subject:
|
Business Code |
Details
|
|
I501010 |
Product
design |
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CQ01010 |
Manufacturing
of Mold |
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CC01080 |
Manufacturing
of Electronic Components |
|
CC01060 |
Manufacturing
of Wired communication machinery and equipment |
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CC01070 |
Manufacturing
of Wireless communication machinery and equipment |
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F219010 |
Retailing
of Materials Retail |
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F213060 |
Retailing
of Telecommunications Equipment |
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F206030 |
Retailing
of Die |
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F218010 |
Retailing
of Information Software |
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I301010 |
Information
Software Services |
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I301020 |
Data
processing services |
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F401010 |
International
Trade |
|
ZZ99999 |
Besides
licensed business, all other business items those are not banned or
restricted. |
l
The
components and raw material for production are mostly purchased from abroad.
l
Subject is
mainly engaged in design and processing of various Electronic circuits,
supplying service of information software & electronic information, general
import and export trade.
l
Subject
is an agency of Silicon Labs and Actel.
l
And
subject’s selling territory is all over the world.
Import and export right:
|
Import
right |
Yes |
|
Export
right |
Yes |
Settlements
Purchase
Domestic
Purchase (Taiwan and Mainland, China)
|
Payment
Terms |
Proportion |
|
|
Raw
material |
COD,
etc. |
100% |
Foreign
Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
material |
T.T in
advance, L/C etc. |
100% |
Sales
Domestic
Markets (Taiwan)
|
Sales
Terms |
Proportion |
|
|
Electronic
circuits |
COD,
etc. |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Electronic
circuits |
T.T in
advance, L/C etc. |
100% |
Balance
Sheet
Unit: NTD
|
|
|
|
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Current Assets |
82,431,559 |
55,747,581 |
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Fixed Assets |
1,516,645 |
1,520,366 |
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Other Assets |
333,333 |
433,333 |
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Total Assets |
84,281,537 |
57,701,280 |
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Liabilities and equity |
|
|
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Current Liabilities |
61,301,901 |
36,097,671 |
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Total Liabilities |
61,301,901 |
36,097,671 |
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Total Shareholder’s Equity |
22,979,636 |
21,603,609 |
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Total Liabilities and Equity |
84,281,537 |
57,701,280 |
Profit and
Loss Accounts
Unit: NTD
|
|
|
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Operating revenue |
170,688,556 |
118,436,874 |
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Operating cost |
141,671,501 |
98,302,605 |
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Operating gross profit |
29,017,055 |
20,134,269 |
|
Operating expenses |
25,997,986 |
19,040,091 |
|
Operating net profit |
3,019,069 |
1,094,178 |
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Non-operating revenue |
449,020 |
939,701 |
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Non-operating expenses |
465,638 |
315,903 |
|
Other non-operating loss |
3,002,451 |
1,717,976 |
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Income tax expenses |
(511,150) |
(478,783) |
|
Net profit after tax |
2,491,301 |
1,239,193 |
Bankers
Subject declined to
disclose the information on Bankers, and we couldn’t obtain the information
from other sources.
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
|
Name |
Mr. Huang |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.43 |
|
UK Pound |
1 |
Rs.71.90 |
|
Euro |
1 |
Rs.63.41 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.