MIRA INFORM
REPORT
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Report Date : |
30.05.2011 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN SPOT INDUSTRY INC. |
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Registered Office : |
No.6, Alley 25, Lane 25, Kuo Chung 1 Rd., Dali Dist., Taichung City 412 |
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Country : |
Taiwan |
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Date of Incorporation : |
10.01.1981 |
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Com. Reg. No.: |
52622535 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of manufacturer of Wire Mesh Welding Machine, Wire
Welding Machine, Mesh Welding Machine, Welding Machine, 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 40,000 |
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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
Notes: Subject’s exact name and address are as above.
Credit
Summary
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Credit Rating: |
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Credit Opinion: |
Company
Identification Details
History
Subject was incorporated on
1983 Established
the Study & Development Department; Start to produce Semi-Auto Welding
Equipment and the peripheral products.
1988 Moved to the
present factory.
1989 Developed
Micro-computer Time Controller, Welding machine Started to step into digitalize
and Micro-Computerize.
1992 Entire
Computerized, and enforce design and Study & Development, Start to Produce
Auto Welding equipment.
1998 Established
Machine test running & Maintenance Department in China Mainland.
2000 Certified
with IS-9001 International Quality Guaranty to promote new milestone of our
Quality System and image.
2001 Completed the
friendly-use Human & Machine Interface system, the controlling system
became graphically presenting, which is easier for operator to run.
2002 We
established a factory at Shanhai China Mainland to start producing standard
Spot Welding Machine.
2003 Certified
with ISO-9001:2000(R&D) International Quality Guaranty Renew Edition.
2004 Pneumatic
Spot Welding Machinery of our production line was certified with CCC China
Compulsory Product Certification.
2005 Successfully
developed LCD frame special purpose welding machine. Start applying Mitsubish
PLC Q series controlling system, to improve heavy-duty machine running
efficiency and production speed.
2008 Successfully
developed security mesh welding machine and Freezer evaporator mesh welding
machine.
2008.10 GSV-80B
Vertical-type mesh welding machine is built completely.
2009.10 Purchase
new land, preparing for expanding new plant.
2009.12 ISO-9001:
2008 International Quality Guaranty certification renew approved.
Shareholders
|
Name |
Subscription Shares |
|
Qingrong Huang |
500 |
| Maoquan
Huang |
100 |
|
Xiufeng Zhou |
600 |
|
Yapei Huang |
100 |
The information
above is that of subject’s major shareholders.
Subsidiaries &
Branches
Branch Companies
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Name: |
Golden Spot
(Taicang) Co., Ltd (Literal Translation) |
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Address: |
East ChangQiao,
Liu Tai Rd., Ludu Town, Taicang City, Jiangsu Province, China. |
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Description: |
The company
operates as a factory in China mainland and it supplies its products for
China mainland customers. |
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Website: |
www.goldspot.com.cn |
Cooperative enterprise:
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1 |
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Name |
LORS Machinery
Inc. |
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Date of Found: |
1960 |
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Address |
1090 Lousons
Road, Union, NJ 07083, USA |
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Telephone Number |
+1-908-964-9100 |
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Fax Number |
+1-908-964-4492 |
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Website |
www.lors.com |
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Listed at Stock
Exchange |
No |
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Major Products |
All types of
Welding Machines, selling and providing service for Canada, USA and Mexico. |
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2 |
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Name |
N.Elliott
Enterprises |
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Date of Found: |
1980 |
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Address |
PO Box 2032, NSW
2517, NSW 2517, Australia |
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Telephone Number |
+61-412-698-721 |
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E-mail: |
noel.elliott@elliottenterprises.com.au |
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Website |
www.elliottenterprises.com.au |
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Listed at Stock
Exchange |
No |
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Major Products |
SA series
air-pressure spot welders, machine maintenance services and new machine sales
for Australia, New Zealand and India. |
Personnel
Information
Core
Management
|
1 |
|
|
Name |
Qingrong Huang |
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Position |
Board Chairman |
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2 |
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Name |
Maoquan Huang |
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Position |
Director |
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3 |
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Name |
Xiufeng Zhou |
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Position |
Director |
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4 |
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Name |
Yapei Huang |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 30 employees |
Operation
Information
Offices
& Factories
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|
Headquarters |
|
Add |
No.6, Alley 25, Lane 25, Kuo Chung 1 Rd., Dali Dist., Taichung City
412, Taiwan (R.O.C.) |
Production
Information
l
Subject is mainly engaged in developing
state-of-the-art welding machines to meet the special requirements from customers
around the world.
l
Subject has R&D team and have rewarded almost
40 patent rights- proves the advanced technology. Also, certified with CE and
ISO-9001:2000 (R&D) - improves work more effectively.
l
Subject has good product design capacity, accompanied
by 3D chart & 3D simulation-design to reduce flaws and interference
problems. Automatic controlling system equipped with human-machine interface
windows based for the use of PLC, which makes our customers easy to operate
&maintenance, providing omni-directional services.
l
Designed based on the characteristics of welding
machine can reduce power consumption and work more efficiently.
l
Spot Welding Machine uses a self-developed
microprocessor finger-touch timer for controller controlling and time that leads
us the prime professional manufacturer in Taiwan. The timer is programmable
matching for different welding requirement.
l
Subject has constructed a complete quality control
system in each stage of the production process from Incoming Quality Control
(IQC), In-Process Quality Control (IPQC) to Final Quality Control (FQC).
Purchase
Information
l
The registered activities of subject:
|
1 |
Assembly, manufacture and sales of electric
welder and mash welder |
|
2 |
import and export business and External guarantee
business between traders in the same industry |
l
Subject purchases mainly from domestic market,
while they can also import specific components from foreign counties if the
customers demands.
l
Subject supplies more than 50 models in seven
series, including wire mesh welding machine, air pressure seam welding machine,
flash butt welding machine, spot welder, MIG welding stand, forming machine,
other special purpose-welding machine and whole-plant welding equipment. These
products have a wide range of applications in many fields of industry like
manufacturing, furniture and construction industry.
l
The products are applied to wire shelving,
industries mesh, furniture and metal products, etc.
l
Subject exports through
agencies all over the world such as Brazil, and it is introduced that subject’s
sales mainly focus on Asia and subject also has customers in Europe and
America.
l
Subject is a member of AWS (American Welding
Sociaty).
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
Domestic Purchase
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Payment Terms |
Proportion |
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Components, etc |
CBD, COD, etc |
100% |
Foreign Purchase
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Payment Terms |
Proportion |
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Components, etc |
CBD, etc |
100% |
Sales
Domestic Markets
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Sales Terms |
Proportion |
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Welding Machines |
30% repayment, 70% before delivery, etc |
100% |
Export
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Sales Terms |
Proportion |
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Welding Machines |
30% repayment, 70% before delivery, etc |
100% |
Notes: The details are
to be negotiated.
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 Yapei Huang introduced subject’s financial information
as follows, while it is only the estimated information for reference.
Unit: USD
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Annual Sales
Turnover |
3,000,000 |
Bankers
|
Name: |
Tai Fung 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 |
Yapei Huang |
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Position |
Supervisor/Sales Manager |
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Department |
Sales Dept. |
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E-mail |
welding@goldspot.com.tw |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.21 |
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UK Pound |
1 |
Rs.74.31 |
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Euro |
1 |
Rs.64.40 |
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 |
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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.