|
Report Date : |
13.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
VALORX WEICHU INTERNATIONAL CO., LTD. |
|
|
|
|
Registered Office : |
5F, No.118, Sec. 1, Neihu Rd., Neihu District, Taipei City 114 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
13.08.1981 |
|
|
|
|
Com. Reg. No.: |
20897031 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading of automation equipment and its parts |
|
|
|
|
No. of Employees : |
About 20 Employees |
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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Taiwan - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. Taiwan's Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 accounting for 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.
Source : CIA
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
5F, No.118, Sec. 1, Neihu Rd., Neihu
District, Taipei City 114, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2799-9689 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Valorx Weichu International Co., Ltd. |
|
Registered Address: |
5F, No.118, Sec. 1, Neihu Rd., Neihu District, Taipei City 114, Taiwan
(R.O.C.) |
|
Date of Foundation: |
1981-8-13 |
|
Registration Number: |
20897031 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 25,000,000
(USD 850,000) (As of 2012.12, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 25,000,000 (USD 850,000) |
|
Legal Representatives: |
Jianghe Fang |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on 1981-8-13 with registered number 20897031 as Joint Stock Company in Taiwan.
Change of Name
|
Former Chinese
Name |
維聚企業有限公司 |
|
Current Chinese
Name |
維聚股份有限公司 |
|
Name |
Subscription
Shares |
|
Jianghe Fang |
940,000 |
|
Xingwei Fang |
|
|
275,000 |
|
|
Xingjie Fang |
275,000 |
|
Lingmei Zhang |
290,000 |
The information above is that of subject’s major shareholders.
Branch Company
|
Name |
Taichung Branch |
|
Address |
10F., No.476-1,
Sec. 4, Henan Rd., Nantun Dist., Taichung City 408, Taiwan (R.O.C.) |
|
Telephone Number |
+886-4-2383-4371 |
|
Fax Number |
+886-4-2383-4370 |
Core
Management
|
1 |
|
|
Name |
Jianghe Fang |
|
Position |
Board Director |
|
2 |
|
|
Name |
Xingwei Fang |
|
Position |
Director |
|
3 |
|
|
Name |
Xingjie Fang |
|
Position |
Director |
|
4 |
|
|
Name |
Lingmei Zhang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 20 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
5F, No.118, Sec. 1, Neihu Rd., Neihu District, Taipei City 114, Taiwan
(R.O.C.) |
Production
Information
l
Subject is a trader of automation equipment and its
parts without any production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F106010 |
Wholesale of ironware |
|
F111090 |
Wholesale of building materials |
|
F113010 |
Wholesale of machinery |
|
F113030 |
Wholesale of precise instrument |
|
F113020 |
Wholesale of electrical equipment |
|
F206010 |
Retail of ironware |
|
F211010 |
Retail of building materials |
|
F213040 |
Retail of precise instrument |
|
F213080 |
Retail of machinery |
|
F401010 |
International trade business |
|
CC01030 |
Manufacturing of electrical equipment and
audio-visual electronic products |
|
CE01030 |
Manufacturing of optical instrument |
|
CA02030 |
Manufacturing of screw, nut, screw spike, and
rivet |
|
CA02050 |
Manufacturing of valve |
|
CA02090 |
Manufacturing of wire |
|
CB01010 |
Manufacturing of machinery |
|
CB01020 |
Manufacturing of office machinery |
|
CB01990 |
Manufacturing of other machinery |
|
CC01080 |
Manufacturing of electronic component |
|
CC01110 |
Manufacturing of computer and peripheral
equipment |
|
CE01010 |
Manufacturing of general instrument |
|
F113050 |
Wholesale of computer and office equipment |
|
F113990 |
Wholesale of other machinery |
|
F119010 |
Wholesale of electronic materials |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
Subject purchases product from both home and
abroad, etc.
l Subject is engaged
in sales of automation equipment and its parts, etc.
l
Subject’s sales regions include domestic market,
other Asian countries, Europe and America, etc.
l
Subject’s major customers include power
manufacturer, nuclear manufacturer, plastic manufacturer, semiconductor
manufacturer, glass manufacturer, paper manufacturer, and tyre manufacturer,
etc.
l
The major brands sold by subject include “PEKOS”,
“SHARPE”, “W.A.Kates”, “RGS”, “Automatic Valve”, ”KONAN”, “PNEURIDE”,
“PricePump”, and “All-Flo”, etc.
l
The major products sold by subject include magnetic
valve, ZZDQ, pneumatic pump, and air spring, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Equipment and
its parts |
COD, CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Equipment and
its parts |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Equipment and
its parts |
CBD, etc |
100% |
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 Mr. Fang declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
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.
|
Name |
Mr. Fang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
UK Pound |
1 |
Rs.87.43 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
---- |
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.