MIRA INFORM REPORT
|
Report Date : |
07.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
ASIAN PLASTIC MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
No.1-1, Sung Chiang n. Rd., |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
28.12.1987 |
|
|
|
|
Com. Reg. No.: |
22663360 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and sales of injection molding
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 |
|
Maximum Credit Limit : |
USD 80,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
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) |
|
Taiwan |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Contact Points
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.1-1, Sung Chiang n. Rd., |
|
Supplied Address: |
1, Sung |
|
Telephone Number: |
|
|
E-mail: |
Notes: Subject’s exact address is as above and the supplied fax +885-3-1520261 is not valid.
Credit Summary
|
Credit Rating: |
|
|
Credit Opinion: |
Company Identification Details
History
Subject was incorporated on
Awards
|
Year |
Awards |
|
2007 |
Blue chip
importer and exporter |
|
2008 |
Blue chip
importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2007 |
18,000,000 |
|
2008 |
19,000,000 |
Shareholders
|
Subscription Shares |
|
|
British Virgin Islands Shangyi Wei Le Gao Company (Literal Translation) |
5,000,000 |
The information above is that of subject’s
major shareholders.
Subsidiaries
& Branches
Major Sales
offices:
|
1 |
|
|
Name |
Kunshan Office |
|
Address: |
Block B, 5/F., |
|
Tel: |
+86-512-5730-6792 |
|
|
|
|
Name |
|
|
Address: |
Middle Section
of Jing No.2 Road, Beiguan Industrial Park, Jiaozhou, Qingdao, Shandong,
China |
|
Tel: |
+86-13553057050 |
It is introduced
that subject also has related companies and office in many other regions of the
mainland of
Personnel Information
Core
Management
Directors
|
1 |
|
|
Name |
Zhenyuan Jiang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Liyuan Jiang |
|
Position |
Director |
|
3 |
|
|
Name |
Hanhua Wu |
|
Position |
Director |
|
4 |
|
|
Name |
Taixiong Xie |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
300~400 employees |
Operation Information
Offices
& Factories
|
|
Headquarters |
|
Add |
No.1-1, Sung Chiang n. Rd., |
Production
Information
l
Subject is a manufacture of injection molding
machines, etc
l
Subject has factory on the headquarter address.
l
It is introduced that subject’s products are
designed by itself.
Purchase
Information
l
The registered activities of subject:
|
1 |
Manufacture and sales of Numerical control injection
plastic molding machines |
|
2 |
General import and export trading business and
department stores selling business. |
|
3 |
Bidding, price quoting and sales business for
domestic and overseas customers except futures |
l
Subject purchases components both at home and
abroad.
Major Purchasing
Region:
|
Products |
Regions |
|
Components |
|
|
Components |
|
|
Components |
|
l
The subject is mainly engaged in sales of injection molding
machines, etc
l
Subject has its own brand named “Zhen Xiong”
(Literal Translation)
l
Subject’s products are both sold in domestic and
overseas market and subject has offices in the mainland of
Major products
sold
|
1 |
Plastic extruding machines |
|
2 |
Injection molding machine auxiliary equipments |
|
3 |
Feeding renewable crushers |
|
4 |
Plastic molding machines |
|
5 |
Plastic granulators |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Settlements
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components |
COD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Components |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
30%prepayment, 70% before delivery, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
30%prepayment, 70% before delivery, 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
Subject’s relevant staff Mr. He declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
Bankers
|
Name |
Taiwan Cooperative Bank |
|
Address |
|
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 |
Mr. He |
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.13 |
|
|
1 |
Rs.74.18 |
|
Euro |
1 |
Rs.64.88 |
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 |
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.