MIRA INFORM REPORT
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Report Date : |
04.09.2011 |
IDENTIFICATION DETAILS
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Name : |
IRON FLOWER MACHINERY INC. |
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Registered Office : |
1FL., No.453, Chen Hsing Rd., E. Dist., Taichung |
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Country : |
Taiwan |
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Date of Incorporation : |
13.07.1981 |
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Com. Reg. No.: |
52750088 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of Flat-Bed CNC Lathe and
conventional precision lathes, 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
|
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
Notes: the staff information is estimated and only
for reference.
History
Subject was incorporated on
Certification:
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Certificate of EMC |
EMC Certificate No. : |
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US Patent |
Certifica No: |
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Certifica No: |
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SGS Verification of MD Compliance |
Certifica No: |
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Certifica No: |
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Certificate EC
Type-Examination Machinery |
KEMA No:2003630/1 |
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KEMA No:2003630/2 |
Shareholders
|
Name |
Subscription Shares |
|
Shihe
Chen |
200 |
| Meifang Chen |
300 |
|
Jingwen
Chen |
200 |
|
Zirong
Chen |
400 |
The information above is that of subject’s major
shareholders.
Subsidiaries &
Branches
Other Address:
|
Address: |
1FL., No.453, Chen Hsing Rd., E. Dist.,
Taichung Taiwan R.O.C. |
Personnel
Information
Core Management
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1 |
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Name |
Shihe Chen |
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Position |
Board Chairman |
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2 |
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Name |
Meifang Chen |
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Position |
Director |
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3 |
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Name |
Jingwen Chen |
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Position |
Director |
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4 |
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Name |
Zirong Chen |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 20 employees |
Operation
Information
Offices & Factories
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Headquarters
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|
Add |
No. 98-11 Chin
Kuang Rd., Wuri Dist., Taichung City 41462, Taiwan, R.O.C. |
l
Subject
is a manufacturer of Flat-Bed CNC Lathe and conventional precision lathes
Purchase Information
l
The
registered activities of subject:
|
1 |
Manufacture,
processing, electrofacing and sales
of all kinds of masters and related
components |
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2 |
Manufacture,
processing, electrofacing and sales
of all kinds of hardware and tools. |
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3 |
Manufacture,
processing and sales of cultivator, diesel motor and pump |
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4 |
Manufacture,
processing and sales of Agricultural machinery parts |
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5 |
Import and
export trading business of all kinds of marble
And other building and decorative materials |
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6 |
Import and
export trading business of the above mentioned items |
l
Subject
purchases both at home and abroad.
l
Subject
is engaged in sales of Flat-Bed CNC Lathe and conventional precision lathes,
etc
l
Subject
has its own brand named MASCUT.
l
Subject’s
products are both sold in domestic and overseas market and it is introduced
that over 50% of subject’s products are exported to other countries.
l
It is
introduced that subject sells its products to other countries mainly through specific agencies in different regions.
Import and export right:
|
Import
right |
Yes |
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Export
right |
Yes |
Settlements
Purchase
Domestic
Purchase
|
Payment
Terms |
Proportion |
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|
Raw
materials and components, etc |
COD,
Credit Sales, 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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Flat-Bed CNC Lathe and conventional
precision lathes, etc |
CBD,
etc |
100% |
Export
|
Sales
Terms |
Proportion |
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|
Flat-Bed
CNC Lathe and conventional precision lathes, etc |
CBD,
etc |
100% |
Notes: Subject’s settlement for export is generally
in USD.
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 its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
Bankers
Subject declined to
confirm whether its banker is Taiwan Co-Operative Bank, Yuansin Branch, Taiwan,
and subject stated that they will release the information if there is further
cooperation.
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. Huang |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.90 |
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UK Pound |
1 |
Rs.74.31 |
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Euro |
1 |
Rs.65.41 |
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 |
|
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.