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Report Date : |
29.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
HONOR SEIKI COMPANY LIMITED |
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|
|
|
Formerly Known As : |
Honor Machine Engineering Co.,
Ltd. |
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|
|
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Registered Office : |
No.658, Sec.1, Chung Shan Rd., Hunei Dist., Kaohsiung City
829 |
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|
|
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Country : |
Taiwan |
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Date of Incorporation : |
21.05.1987 |
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Com. Reg. No.: |
22503723 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer of CNC vertical Lathes & single purpose CNC lathes |
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|
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No. of Employees : |
About 200 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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Notes:
The supplied name is incomplete, and the exact name is as above.
The supplied address is incorrect, and the exact address is as above.
|
Credit Opinion: |
Subject was incorporated on
Change of Name
|
Former Chinese Name |
榮田機器工程股份有限公司 |
|
Current Chinese Name |
榮田精機股份有限公司 |
|
Former English Name |
Honor Machine Engineering Co., Ltd. |
|
Current English Name |
Honor Seiki Company
Limited |
Awards
|
Year |
Awards |
|
2008 |
Blue chip importer and exporter |
|
2009 |
Blue chip importer and exporter |
|
2010 |
Blue chip importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
Subscription
Share |
|
|
Fuying
Investment Co., Ltd |
5,875,321 |
| Tongtai
Machine & Tool Co., Ltd |
18,254,424 |
The information above is that of subject’s major shareholders.
Parent Company
|
Name |
Tongtai Machine & Tool Co., Ltd |
|
Date of Registration |
|
Core
Management
|
1 |
|
|
Name |
Songtian Chen |
|
Position |
Board of Chairman |
|
2 |
|
|
Name |
Junlong Zheng |
|
Position |
Director |
|
3 |
|
|
Name |
Kuncong Wang |
|
Position |
Director |
|
4 |
|
|
Name |
Dengcai Xie |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 200 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.658, Sec.1,
Chung Shan Rd., Hunei Dist., Kaohsiung City 829, Taiwan (R.O.C.) |
Production
Information
l
Subject is a manufacturer of CNC vertical Lathes
and the related products with the production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacture and
trade of machinery, hardware, material and accessories. |
|
2 |
Manufacture and
trade of pollution prevention equipment |
|
3 |
Import and
export of the products above |
l
The components and raw material for production are
purchased from local.
l
Subject is mainly engaged in manufacturing and
trading of CNC vertical Lathes and the related products.
l
Subject introduced that its brand named HONOR.
l
Subject introduced that it also has some offices in
Taichung, Taipei, and it has after-service office in Shanghai.
l
Subject introduced that its major products sold as
following:
|
|
Product |
|
1 |
CNC Vertical
Lathe |
|
2 |
CNC High Speed
Drilling Master |
|
3 |
CNC Vertical
Turning Center |
|
4 |
CNC Vertical
Grinding Machine |
|
5 |
Parts of Vehicle
Processing Line |
|
6 |
CNC Special
Purpose Machine |
|
7 |
Others |
l
Subject’s selling territory covers all over the
world.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Subject declined to disclose the settlements information, and from other
sources, we couldn’t obtain the information, either.
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 Ms. Lee declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
The bankers’ information is not available from the subject or other sources.
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 |
Ms. Lee |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.26 |
|
UK Pound |
1 |
Rs.86.80 |
|
Euro |
1 |
Rs.69.63 |
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.