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Report Date : |
15.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SYSCO MACHINERY CORPORATION |
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Registered Office : |
No.15, Kaifa 4th Rd., Rende Dist., Tainan City 71750 |
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Country : |
Taiwan |
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Date of Incorporation : |
14.07.1977 |
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Com. Reg. No.: |
30828359 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of industrial cutting equipment, etc |
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No. of Employees : |
About 120 employees (estimated) |
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.
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Source : CIA |
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Company Name: |
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Supplied Name: |
|
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Trading Address: |
24, Kai Fa 6 Road, Boa-An Village, Rende
Shiang, Tainan County, Taiwan R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-6-2662021 |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on
|
Name |
Subscription Shares |
|
San Shin Co. Ltd. |
1,553,148 |
|
Longxiang Wang |
|
|
797,935 |
|
|
Qinze Xie |
1,370,620 |
|
Long Chuan Investment Co., Ltd (Literal Translation) |
1,375,422 |
|
Jiu Sheng Investment Co., Ltd (Literal Translation) |
916,822 |
|
San Shin Investment Co., Ltd (Literal Translation) |
451,546 |
The information above is that of subject’s major shareholders.
Regional Offices
(Related Companies)
|
Office name |
Contact information |
Location |
|
|
AH ENGINEERING DN. BHD. |
TEL: +603-80615082 |
Malaysia, |
|
|
DIWIN ENTERPRISE INC. |
TEL: +63-2-4100228 |
Philippine, |
|
|
IVK SYSTEMS |
TEL: + 7-495-7925041 |
Russia, |
|
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MICAP MACHINERIES(1986)
LTD. |
TEL: + 66-2-2910674-7 |
Thailand, |
|
|
SEOUL DIE CUTTING
SSYSTEMS |
TEL: + 82-2-461-4390 |
Korea, |
|
|
SIMCA CORPORATION |
TEL: + 81-3-3834-3523 |
Japan, |
|
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SYSCO HI-STAN
INTERNATIONAL |
TEL: + 91-44-22349745 |
India, |
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|
America |
|||
|
Office name |
Contact information |
Location |
|
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ASSOCIATED PACIFIC
MACHINE CORP. |
TEL: +1-805-4454740 |
U.S.A. |
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HITECH EI.INDI.
COMI.LTDA. |
TEL: +55-11-21824319 |
Brazil, |
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Africa |
|||
|
Office name |
Contact information |
Location |
|
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SYSCO HI-STAN
INTERNATIONAL |
TEL: + 91-44-22349745 |
India, |
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Europe |
|||
|
Office name |
Contact information |
Location |
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AB H BRUNNER |
TEL: +46-19-175880 |
Sweden, |
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DOREY S.A |
TEL: 33-4-7505-1000 |
France, |
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GLOBAL CUTTING
TECHNOLOGIES |
TEL: 44-1933-273330 |
UK, |
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JRM RASJONELT UTSTYR
SALG&SERVICE |
TEL: + 47-701-47555 |
Norway, |
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MUOTOTERA OY |
TEL: 358-3-2254300 |
Finland, |
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NAVEIRA BARCELONA SPAIN |
TEL: 34-935-445-090 |
Spain, |
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RING MASCHINENBAU GMBH
& CO.KG |
TEL: +49-6331-51810 |
Germany, |
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Oceania |
|||
|
Office name |
Contact information |
Location |
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CUTTING SYSTEMS
(AUSTRALIA) PTY LTD |
TEl: +61-3-97692220 |
Australia, |
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Core
Management
|
1 |
|
|
Name |
Huazhou Yan |
|
Position |
Broad Chairman |
|
2 |
|
|
Name |
Longxiang Wang |
|
Position |
Director |
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3 |
|
|
Name |
Qinze Xie |
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Position |
Director |
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4 |
|
|
Name |
Yishuo Wang |
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Position |
Director |
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5 |
|
|
Name |
Qiugui Wu |
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Position |
Director |
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6 |
|
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Name |
Zheng Yan |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 120 employees
(estimated) |
Offices
& Factories
|
|
Headquarters |
|
Add |
24, Kai Fa 6
Road, Boa-An Village, Rende Shiang, Tainan County, Taiwan R.O.C. |
Production
Information
l
Subject is engaged in industrial cutting equipment
including die cutting press, rotary die cutting machines, and laser cutting
machine, etc
Purchase
Information
l
The major registered activities of subject:
|
Business Code |
Details |
|
--。 |
Manufacture, processing, domestic
sales and exports of All kinds of shoe machinery, Hydraulic cutting machine, cutting
die, injection molding machine and mould. |
|
-- |
Manufacture, processing, domestic
sales and exports of pressure-control valve, Air pressure flow control valve
and directional control
valve |
|
-- |
Manufacture and sales of All kinds of die casting
machines |
|
-- |
Manufacture and sales of Die casting machine
peripheral equipment |
|
-- |
Manufacture and sales of die casting machine
parts, etc |
|
-- |
Import, export and agent service of the above
mentioned items |
|
CB01010 |
Manufacture of mechanical equipment |
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CB01990 |
Manufacture of other machinery |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
Subject purchases raw materials and components both
at home and abroad.
l
The subject is mainly
engaged in sales of industrial cutting equipment, including die cutting press, rotary
die cutting machines, and laser cutting machine, etc
l
Subject also supplies
turn-key service for plastic card machines industry, smart label, RFID radio
and tags, etc
l
Subject’s products are
both sold in domestic and overseas market and it has regional offices in Asia,
America, Africa, Europe and Oceania, etc
Major products
|
Product |
Application & details |
|
Rotary die
cutting system |
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Laser cutting
system |
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Card processing
system |
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RFID |
RFID Inlay
Cutting and Sorting Machine RFID Smart
Label Transponder Attaching and Laminating System |
|
Flexible Print |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials
and components, etc |
COD, Credit
Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials
and components, etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Industrial cutting equipment, etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Industrial cutting equipment, 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.
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.70 |
|
UK Pound |
1 |
Rs.84.51 |
|
Euro |
1 |
Rs.68.16 |
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 |
|
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.