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Report Date : |
02.11.2012 |
IDENTIFICATION DETAILS
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Name : |
KAYTON INDUSTRY CO., LTD. |
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Registered Office : |
No.461, Sec.1, |
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Country : |
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Date of Incorporation : |
15.01.1993 |
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Com. Reg. No.: |
84163267 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of rubber machines, etc |
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No. of Employees : |
About 54 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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 |
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: |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
KAYTON INDUSTRY CO., LTD. |
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Registered Address: |
No.461, Sec.1, Futzuen Rd., Yuanlin Jen, Changhua, Taiwan, R.O.C. |
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Date of Foundation: |
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Registration Number: |
84163267 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2012.10, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 26,000,000 (USD 881,400) |
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Legal Representatives: |
Xiuxian He |
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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
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Name |
Subscription Shares |
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Xiuxian He |
1,680 |
|
Keying Li |
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|
260 |
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Guihua Liang |
260 |
|
Yuying Cai |
260 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No. 47 Liuchiao east
Road, Pu-Hsin, Chang Hua |
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Telephone
Number: |
+886-4-8322471 |
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Fax Number: |
+886-4-8342822 |
Core
Management
|
1 |
|
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Name |
Xiuxian He |
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Position |
Board Chairman |
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2 |
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Name |
Keying Li |
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Position |
Director |
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3 |
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Name |
Guihua Liang |
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Position |
Director |
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4 |
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Name |
Yuying Cai |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 54 employees |
Offices
& Factories
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|
Headquarters |
|
Add |
Production
Information
l
Subject is engaged in manufacture of tire-making
machines, etc
l
It is introduced that subject has obtained to
certification of CE
Purchase
Information
l
The registered activities of subject:
|
1 |
Design, manufacture and sales of rubber machinery
including hardware and Electrical spare parts |
|
2 |
Design, manufacture and sales of industrial
hardware and components |
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3 |
Import and export trading business of the above
mentioned products |
l
Subject purchases raw materials and components both
at home and abroad.
l
The subject is mainly engaged in manufacturing and
processing of various computers,
l
Subject’s products are both sold in domestic and
overseas market in Taiwan, China, Japan , Thailand, Malaysia , Vietnam,
Germany, Turkey …etc.
l
Subject’s major customers includes Bridgestone,
Yokohama Toyo, NOK , Synztec , Inoue , Nishikawa, etc
Major products
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1 |
Fully Automatic Batch-Off Machine (Including
Letter Blocks Auto Changeable Marker and Auto Sampling Device) |
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2 |
Pin Barrel, Cold Feed & Hot Feed Extruder . |
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3 |
Tread, Side-wall Extrusion Cooling, Winding,
Cutting Automation Train. |
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4 |
Calendering Head Extruder (Max. Rubber Sheet
Width |
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5 |
Inner Liner, Rubber Sheet Automatic Cooling ,
Cutting & Winding Train . |
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6 |
Auto Splicing Type Fabric Cutter & Winder |
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7 |
Bead Wire Circumference Measuring Machine ( Including
Computerized Engineering Analysis Function) |
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8 |
Radial , Bias Tire Hydraulic Type Curing Machine
(Including Laboratory Curing Press) |
|
9 |
Computer Controlled Drum Tester (Including Camber
, Slip and Rolling Resistance Functions) |
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
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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Tire making
machinery, etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
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Tire making
machinery, etc |
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 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 can not 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.
|
Interview Date |
|
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.79 |
|
UK Pound |
1 |
Rs.86.77 |
|
Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
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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 |
---- |
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.