MIRA INFORM REPORT
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Report Date : |
03.05.2011 |
IDENTIFICATION DETAILS
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Name : |
LITZ HITECH CORPORATION |
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Registered Office : |
No.18, You Jiu Rd., Dajia Dist., Taichung City 437 |
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Country : |
Taiwan |
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Date of Incorporation : |
16.02.1987 |
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Com. Reg. No.: |
22393818 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Sales of Vertical Machining Center, Vertical Machining
Center, CNC Turning Center, 5-Axis Maching Center, etc |
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 60,000 |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
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: |
No.18, You Jiu Rd., Dajia Dist., Taichung
City 437, Taiwan (R.O.C.) |
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Supplied Address: |
No. 18 Yu Rd.,
Yu Shih Ind. Park, Tachia Town, Taichung Hsien, Taiwan |
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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: |
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Risk Score: |
280 Points |
Company Identification Details
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Registered Name: |
Litz Hitech Corporation |
|
Registered
Address: |
No.18, You Jiu Rd., Dajia Dist., Taichung
City 437, 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 400,000,000 (USD 13,800,000) (As of 2011.04, 1 NTD = 0.0345 USD) |
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Paid-up Capital: |
NTD 250,000,000
(USD 8,625,000) |
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Legal
Representatives: |
Lihua Hu |
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Legal Form: |
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Principal
Activities: |
Sales of
Vertical Machining Center, Vertical Machining Center, CNC Turning Center,
5-Axis Maching Center, etc. |
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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
Awards
|
Year |
Awards |
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2007 |
Blue chip importer and exporter |
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2008 |
Blue chip importer and exporter |
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2009 |
Blue chip importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2007 |
18,000,000 |
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2008 |
19,000,000 |
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2009 |
15,000,000 |
Shareholders
|
Name |
Subscription
Shares |
|
7,950,000 |
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|
|
|
|
7,531,030 |
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|
525,000 |
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Qiongying
Hubo |
950,000 |
Notes:
The information above is
that of subject’s major shareholders.
Subsidiaries
& Branches
Subject did not
register any subsidiaries or branches, from other source we can not obtain the relevant
information, either.
Personnel Information
Core Management
|
1 |
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Name |
Lihua Hu |
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Position |
Board Chairman |
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2 |
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Name |
Weihua Hu |
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Position |
Vice- Chairman |
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3 |
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Name |
Jinyuan Liu |
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Position |
Director |
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4 |
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Name |
Qiongying Hubo |
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Position |
Auditor |
Personnel Structure
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Total Employees |
About 100 Employees |
Operation Information
Offices & Factories
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Headquarters
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|
Add |
No.18, You Jiu Rd.,
Dajia Dist., Taichung City 437, Taiwan (R.O.C.) |
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Floor space: |
Production Information
l
Subject
produces Vertical Machining Center, Vertical Machining Center, CNC Turning
Center, 5-Axis Maching Center, etc.
l
Subject produces
in Taiwan.
Purchase Information
l
The
registered activities of subject:
|
Business Code |
Details
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1 |
Manufacturing,
processing and trade of locomotive, car
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2 |
Manufacturing and trade of fork lift truck and haulage equipment |
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3 |
Manufacturing and
trade of navy and building
machine |
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4 |
Manufacturing and trade of computer NC machine |
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5 |
|
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6 |
Manufacturing
and trade of shovel loader and its components |
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7 |
cast
and smithing of aluminum alloy |
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8 |
Manufacturing,
processing, test and trade of metal panel beating |
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9 |
Manufacturing
of aluminium alloy wheel steel ring and machine |
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10 |
Manufacturing,
processing and trade of space flight industry components |
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11 |
Design,
manufacturing, processing and trade of mould |
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C805050
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Manufacturing of
plastic products for industrial |
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CC01060 |
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CC01070 |
Manufacturing of
wireless communication machine and equipment |
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CC01080 |
Manufacturing
of electronic components |
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F114060 |
Wholesale
of shipping and its components |
|
F114070 |
Wholesale
of air craft and its components |
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F214060 |
|
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F214070 |
Retail
of air craft and its components |
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20 |
|
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21 |
Manufacturing,
processing and trade of mentioned related spare parts, accessories |
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22 |
Import
and export of mentioned related products, components and machine |
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23 |
agency of distribution of tender and
offer business for domestic and abroad
factory's relevant products (except futures) |
|
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
Except
its own brand, the subject also provides OEM and ODM products to the customers.
Customers cover everywhere around the world. The main focus is the manufacturing
of machining center.
l
The
products are including Vertical Machining Center, Vertical Machining Center, CNC Turning
Center, 5-Axis Maching Center, etc.
Import and export right:
|
Import
right |
Yes |
|
Export
right |
Yes |
Settlements
Purchase
Domestic
Purchase (Taiwan and Mainland, China)
|
Payment
Terms |
Proportion |
|
|
Vertical Machining Center, Vertical Machining Center, CNC Turning
Center, 5-Axis Maching Center, etc |
CBD,
etc |
100% |
Foreign
Purchase
Sales
Domestic
Markets (Taiwan)
The subject seldom
sells in the domestic market.
Export
|
Sales
Terms |
Proportion |
|
|
Vertical
Machining Center, Vertical Machining Center, CNC Turning Center, 5-Axis
Maching Center, etc |
CBD,
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. Zhang declined to disclose its financials
citing the grounds of company’s confidentiality; she just introduced that the
subject can sell about 800 nc machine. from other source we can not obtain the
relevant information, either.
Bankers
|
Name |
Land
Bank of Taiwan |
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. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
|
UK Pound |
1 |
Rs.73.89 |
|
Euro |
1 |
Rs.65.57 |
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 |
|
<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.