MIRA INFORM REPORT
|
Report Date : |
02.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
POLYMAC MACHINERY CO., LTD. |
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Registered Office : |
26, Kong-Yeh 15th Rd., Taiping
Dist., Taichung City 411 |
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Country : |
Taiwan |
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Date of Incorporation : |
10.03.1987 |
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Com. Reg. No.: |
22404792 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales
of shoe making machines, etc |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 40,000 |
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Taiwan |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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: |
26, Kong-Yeh 15th Rd., Taiping Dist.,
Taichung City 411, Taiwan (R.O.C.) |
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Supplied Address: |
26, Kong-Yeh 15th Road, 411 Taiping City,
Taichung Hsien, Taiwan |
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Telephone Number: |
+886-4-2271-1636 |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as above.
Credit
Summary
|
Credit Rating: |
|
|
Credit Opinion: |
Company
Identification Details
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Registered Name: |
Polymac Machinery Co., Ltd. |
|
Registered Address: |
26, Kong-Yeh 15th Rd., Taiping Dist., Taichung City 411, Taiwan
(R.O.C.) |
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Date of Foundation: |
|
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Registration Number: |
22404792 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2011.10, 1 NTD = 0.0333 USD) |
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Paid-up Capital: |
NTD 25,000,000 (USD 832,500) |
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Legal Representatives: |
Kunbin Liu |
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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: |
Notes: The staff information is estimated and only
for reference.
History
Subject was incorporated on
Shareholders
|
Name |
Subscription Shares |
|
Kunbin Liu |
9,700 |
|
Jianfu Liu |
|
|
2,300 |
|
|
Xingzi Zhuang |
8,430 |
The information
above is that of subject’s major shareholders.
Subsidiaries &
Branches
Personnel
Information
Core
Management
|
1 |
|
|
Name |
Kunbin Liu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Hepen Liu |
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Position |
Director |
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3 |
|
|
Name |
Jianfu Liu |
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Position |
Director |
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4 |
|
|
Name |
Xingzi Zhuang |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 25employees
(estimated) |
Operation
Information
Offices
& Factories
|
|
Headquarters |
|
Add |
26, Kong-Yeh 15th Rd., Taiping Dist., Taichung City 411, Taiwan
(R.O.C.) |
Production
Information
l
Subject is a manufacturer of PVC, TPR, EVA
injection and PU pouring system shoes making machines.
l
It is introduce that subject supplies OEM service
Purchase
Information
l
The registered activities of subject:
|
1 |
Manufacture, processing and sales of shoes making
machine, plastic injection machine, packaging machine, and relevant
components, etc |
|
2 |
Import and export trading business of the above
items |
|
3 |
Bidding service, price quoting, and marketing
service for both domestic and overseas customers |
l
Subject purchases raw materials and components both
at home and abroad.
l
The subject is mainly engaged in sales of machines
including shoe machine, PVC shoe making machine, TPR shoe making machine, PU
shoe making machine, EVA shoe making machine, shoe making machine, plastic
machine, etc.
l
Subject’s products are for making sole, slipper,
sandal, long boots, lady heels and sports shoes etc.
l
Subject’s products are both sold to domestic and
overseas market and it is introduced that subject’s sales regions include North
America South America, Caribbean East Asia Southeast Asia Mid-East, Africa,
Hong Kong, the mainland of China, etc
Major products
sold
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Settlements
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials and components, etc |
COD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
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Raw materials and components, etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
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Shoe making machines, etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Shoe making machines, 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 declined to disclose the financials citing the grounds of
company’s confidentiality, and we found subject’s annual sales as NTD
3,600,000.00 from public files, while it is not confirmed by subject and only
for reference.
Bankers
Subject declined to disclose its bank details; from other source we can
not obtain the relevant information, either.
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
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
UK Pound |
1 |
Rs.78.78 |
|
Euro |
1 |
Rs.67.76 |
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 |
---- |
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.