MIRA
INFORM REPORT
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Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
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Name : |
HUARONG PLASTIC MACHINERY CO., LTD. |
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Formerly Known As : |
HUARONG MACHINERY CORP. |
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Registered Office : |
No.37-1, Shalun, Jhonglun, Anding Dist., Tainan City, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
02.08.1996 |
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Com. Reg. No.: |
97079523 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of thermoplastic and thermosetting plastic injection molding machine |
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 200,000 |
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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 – March 31st, 2011
|
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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Former Name: |
Huarong
Machinery Corp. |
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Supplied Name: |
Huarong Plastic
Machinery Co Ltd. |
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Trading Address: |
No.37-1, Shalun, Jhonglun, Anding Dist., Tainan City, Taiwan (R.O.C.) |
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Supplied Address: |
No. 37 Shalun
Jhonglun Village Tainan County Taiwan ROC Taiwan |
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Telephone Number: |
+886-6-5939888 |
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Fax Number: |
+886-6-5937699 |
Credit Summary
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Credit Rating: |
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Credit Opinion: |
Company Identification Details
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Registered Name: |
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Registered Address: |
No.37-1, Shalun, Jhonglun, Anding Dist., Tainan
City, Taiwan (R.O.C.) |
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Date of Foundation: |
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Registration Number: |
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Registry: |
MOEA Central Office |
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Registered Capital: |
NTD 63,000,000 (USD 2,179,800) (As of 2011.06, 1 NTD = 0.0346 USD) |
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Paid-up Capital: |
NTD 63,000,000 (USD 2,179,800) |
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Legal Representatives: |
Dongbin Xiao |
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Legal Form: |
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Principal Activities: |
Manufacturing and
sales of thermoplastic and thermosetting plastic injection molding machine |
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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
Change of Name
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Former English Name |
Huarong Machinery Corp. |
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Current English Name |
Huarong Plastic
Machinery Co., Ltd. |
Shareholders
|
Subscription
Shares |
|
|
21,420 |
|
| Wenxiu Xu |
630 |
|
Lanmei Ye |
13,230 |
|
9,450 |
Subsidiaries & Branches
Related Companies
|
Name |
Wuxi Huarong Digital Control Machinery Co., Ltd |
Personnel Information
Core
Management
|
1 |
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Name |
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Position |
Board Chairman |
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2 |
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Name |
Wenxiu Xu |
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Position |
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3 |
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Name |
Lanmei Ye |
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Position |
Director |
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4 |
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Name |
Lihua Li |
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Position |
Auditor |
Personnel
Structure
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Total Employees |
More than 50 Employees |
Operation Information
Offices
& Factories
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|
Headquarters |
|
Add |
No.37-1, Shalun,
Jhonglun, Anding Dist., Tainan City, Taiwan (R.O.C.) |
Production
Information
l
Huarong Plastic Machinery Co., Ltd, based in
Taiwan, is manufacturing thermoplastic and thermosetting plastic
injection molding machine.
Purchase
Information
l
The subject imports machine
tools such for boring, milling, CNC, lathing, heat treatment etc.
l
The subject purchases raw
materials for making products from the mainland of China.
l
The subject is mainly engaged in sales of thermoplastic and thermosetting plastic injection molding
machine.
l
The subject sells products both to the domestic
markets and foreign countries.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
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Raw materials |
Foreign Purchase
|
Payment Terms |
Proportion |
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Machine tools |
Sales
Domestic Markets (Taiwan)
|
Sales Terms |
Proportion |
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Thermoplastic and thermosetting plastic injection molding machine |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
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|
Thermoplastic
and thermosetting plastic injection molding machine |
CBD, etc |
100% |
Financial Information
|
Year |
Sales |
|
2010 |
About USD
20,000,000 |
Bankers
|
Name |
Taiwan 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.
Interview Details
|
Name |
Dongbin Xiao |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.90 |
|
|
1 |
Rs.72.54 |
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Euro |
1 |
Rs.63.39 |
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 |
|
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 |
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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 |
|
<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.