MIRA INFORM REPORT
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Report Date : |
21.06.2011 |
IDENTIFICATION DETAILS
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Name : |
ACCUWAY MACHINERY CO., LTD. |
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Formerly Known As : |
GENITEK CO., LTD. |
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Registered Office : |
No.1, Lane 113, An Ho Rd., Tanzi Dist., Taichung City 427 |
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Country : |
Taiwan |
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Date of Incorporation : |
15.04.1986 |
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Com. Reg. No.: |
22108758 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of vertical machining centers and
CNC Lathes for all segments of industry. |
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 130,000 |
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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: |
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Supplied Name: |
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Trading Address: |
No.26, Lane 108,
Dajhou Rd., Shengang Dist., Taichung City 42941, Taiwan |
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Supplied Address: |
No. 26 Lane 108, Da-Jou Road, Shen Gang Hsiang Taichung Hsien, Taiwan
429 |
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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
|
Registered Name: |
ACCUWAY MACHINERY
CO., LTD. |
|
Registered Address: |
No.1, Lane 113,
An Ho Rd., Tanzi Dist., Taichung City 427, 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 251,442,750 (USD 251,442,750) (As of 2011.06, 1
NTD = 0.03456 USD) |
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Paid-up Capital: |
NTD 251,442,750
(USD 251,442,750 ) |
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Legal
Representatives: |
Zhiwei He |
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Legal Form: |
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Principal
Activities: |
Manufacture and
sales of vertical machining centers and CNC Lathes for all segments
of industry. |
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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 Chinese Name |
钜基工業股份有限公司 |
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Current Chinese Name |
钜基科技股份有限公司 |
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Former English Name |
GENITEK CO., LTD. |
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Current English Name |
ACCUWAY MACHINERY CO., LTD. |
Shareholders
|
Subscription
Shares |
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|
Zhiwei
He |
394,419 |
|
Wanzhi Luo |
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|
2,284,792 |
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|
Wenlong
Lin |
5,430,947 |
|
Wenxian
Zhang |
1,618,229 |
The information above is that of subject’s
major shareholders.
Subsidiaries &
Branches
Factory:
|
Name |
Tan-Tzu Factory |
|
Address |
No. 1, Lane 113, An-Ho Road, Tan-Tzu
Hsiang, Taichung Hsien, 427, Taiwan |
Personnel
Information
Core Management
|
1 |
|
|
Name |
Zhiwei He |
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Position |
Board Chairman |
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2 |
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Name |
Wanzhi Luo |
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Position |
Director |
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3 |
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Name |
Wenlong Lin |
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Position |
Director |
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4 |
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Name |
Wenxian Zhang |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 50 Employees |
Operation
Information
Offices & Factories
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Headquarters
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|
Add |
No.26, Lane 108, Dajhou Rd., Shengang
Dist., Taichung City 42941, Taiwan |
Production Information
l
Subject
is a manufacturer of vertical machining centers and
CNC Lathes for all segments of industry.
.
Purchase Information
l
The
registered activities of subject:
|
Business Code |
Details
|
|
1 |
Design,
manufacture and trade of machinery and machinery parts and mold. |
|
2 |
Tender offer
for the import and export agency |
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3 |
Design,
manufacture, repair and sale of precision tools, dies parts, precision
mechanical |
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4 |
Design,
manufacture, repair and sale of. automatic machinery and equipment |
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5 |
Design,
manufacture, process, and trade optoelectronics, transistors, integrated
circuit lead frame pillars, lead frame, such as mold |
|
6 |
Import
and export the product as above. |
l
The components
and raw material for production are mostly purchased from Taiwan
l
Subject is engaged in sales of vertical machining
centers and CNC Lathes for all segments of industry.
l
Subject has accumulated machining technology and experience
and then moved toward as an OEM supplier of CNC lathes to local machine tooling
companies
l
The
customs of the subject are mainly from Taiwan, China, Southeast Asia and Europe
Import and export right:
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Import
right |
Yes |
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Export
right |
Yes |
Settlements
Purchase
Domestic
Purchase (Taiwan)
|
Payment
Terms |
Proportion |
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Raw
material |
COD,
etc. |
100% |
Foreign
Purchase
Subject seldom
purchases from foreign market.
Sales
Domestic
Markets
|
Sales
Terms |
Proportion |
|
|
Vertical machining centers and CNC Lathes for all segments of
industry. |
CBD,
etc |
100% |
Export
|
Payment/
Terms |
Proportion |
|
|
Vertical
machining centers and CNC Lathes for all segments of industry. |
Usance L/C(180
days), T.T, 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 Chen supplied
the turnover of the subject as
following:
Unit: NTD
|
Turnover(2010) |
400,000,000 (USD 13,825,800 ) |
(As of 2011.06, 1 NTD = 0.03457 USD)
Bankers
|
Name |
Mega International
Commercial Bank |
Note: Ms Chen gave the name of reference
bank as
above, and she didn’t confirm the bank of Taiwan Business 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 |
Ms Chen |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.99 |
|
UK Pound |
1 |
Rs.72.60 |
|
Euro |
1 |
Rs.64.01 |
RATING EXPLANATIONS
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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 |
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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 |
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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.