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Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
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Name : |
TWIN SOFT INDUSTRIAL CO., LTD. |
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Registered Office : |
5F, No.31, Lane 57, Chung Cheng Rd., Linkou Dist., New Taipei City 244 |
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Country : |
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Date of Incorporation : |
26.01.1996 |
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Com. Reg. No.: |
96860941 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of machinery, etc |
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No. of Employees : |
About 10 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – 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 |
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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 |
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
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Company Name: |
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Supplied Name: |
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Trading Address: |
4F-1, No.31, Lane 57, Chung Cheng Rd.,
Linkou Dist., New Taipei City 244, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-2601-6875 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
Twin Soft Industrial Co., Ltd. |
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Registered Address: |
5F, No.31, Lane 57, Chung Cheng Rd., Linkou Dist., New Taipei City 244,
Taiwan (R.O.C.) |
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Date of Foundation: |
1996-1-26 |
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Registration Number: |
96860941 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
NTD 5,000,000 (USD
171,000) (As of 2012.11, 1 NTD = 0.0342 USD) |
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Paid-up Capital: |
NTD 5,000,000 (USD 171,000) |
|
Legal Representatives: |
Yuzhen Gao |
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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: |
Subject was incorporated on 1996-1-26 with registered number 96860941 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Yuzhen Gao |
90,000 |
|
Meizhu Qin |
|
|
80,000 |
|
|
Wenzhi Wang |
90,000 |
|
Liren Xu |
90,000 |
The information above is that of subject’s major shareholders.
Core
Management
|
1 |
|
|
Name |
Yuzhen Gao |
|
Position |
Board Director |
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2 |
|
|
Name |
Meizhu Qin |
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Position |
Director |
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3 |
|
|
Name |
Liren Xu |
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Position |
Director |
|
4 |
|
|
Name |
Wenzhi Wang |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 10 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
4F-1, No.31, Lane 57, Chung Cheng Rd., Linkou Dist., New Taipei City
244, Taiwan (R.O.C.) |
Production
Information
l
Subject is a trader of machinery, etc without any
production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Agent and sales of all kinds of machine tools,
automation machinery and its parts |
|
-- |
Import and export business of measuring apparatus
(besides licensed business) |
|
-- |
Agent, design, and trading of automation control
machinery used in factory |
|
-- |
Import and export of above mentioned items. |
|
-- |
Agent, price quoting, bidding service, Import,
export and marketing of all kinds of above mentioned items. |
l
Subject purchases
products both home and abroad such as USA, Japan, and France, etc.
l
Subject is engaged in sales
of machinery, etc.
l
Subject’s sales regions
include Taiwan domestic market and other Asian countries, etc.
l
The products sold by
subject include carving machine, CNC engraving and milling machine, proofing
press, and scanning machine, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Machine |
COD, CBD, etc. |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Machine |
CBD, etc. |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
COD, CBD, etc. |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Machine |
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. Xu 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. Xu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.12 |
|
UK Pound |
1 |
Rs.87.08 |
|
Euro |
1 |
Rs.70.15 |
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 |
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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 |
|
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 |
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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 |
|
<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.