MIRA INFORM REPORT
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Report Date : |
22.10.2012 |
IDENTIFICATION DETAILS
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Name : |
AEDICE CO., LTD. |
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Registered Office : |
1F, No.8, Alley 6, Lane 377, Ding-An St., Annan Dist.,
Tainan City
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Country : |
Taiwan |
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Date of Incorporation : |
20.03.2001 |
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Com. Reg. No.: |
12767746 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing and sales of plastic injection molding
machine, etc |
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No. of Employees : |
About 20 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) |
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Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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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Former Name: |
Aedice Co., Ltd |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
+886-6-246-2323 |
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Fax Number: |
+886-6-246-1313 |
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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: |
Aedice Co., Ltd. |
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Registered
Address: |
1F, No.8, Alley
6, Lane 377, Ding-An St., Annan Dist., Tainan City, Taiwan, R.O.C. |
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Date of
Foundation: |
2001-3-20 |
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Registration
Number: |
12767746 |
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Registry: |
Tainan City
Government |
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Registered
Capital: |
NTD 10,000,000 (USD 334,000) (As of 2012.10, 1
NTD = 0.0334 USD) |
|
Legal
Representatives: |
Jinhua Chen |
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Legal Form: |
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Principal
Activities: |
Manufacturing and sales of plastic injection
molding machine, etc |
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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 2001-3-20 with registered number 12767746 as Limited Liability Company in Taiwan.
Change of Name
|
Former Name |
Aedice Co., Ltd |
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Current Name |
Aedice Co., Ltd. |
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Name |
Subscription
Amount |
|
Jinhua
Chen |
4,000,000 |
The information above is that of subject’s major shareholders.
Agent
|
Name |
JPS Agents |
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Address |
Industrial Town Plaza, 3rd Floor, Suite
No.330, Shahrah-e-Liaqat, Karachi. |
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Telephone Number |
+0092-21-2465370-71 |
Core Management
|
Name |
Jinhua Chen |
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Position |
Director |
Personnel Structure
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Total Employees |
About 20 Employees |
Offices & Factories
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Headquarters
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|
Add |
Production Information
l
Subject
is engaged in manufacturing of plastic
injection molding machine, etc.
Purchase Information
l
The
registered activities of subject:
|
Business Code |
Details
|
|
F105050 |
Wholesale
of furniture, bedding, kitchen utensil, and ornament |
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F205040 |
Retail
of furniture, bedding, kitchen utensil, and ornament |
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F206010 |
Retail
of ironware |
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F106010 |
Wholesale
of ironware |
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F401010 |
International
trade business |
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CB01010 |
Manufacturing
of machinery |
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E604010 |
Installation
of machinery |
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F113010 |
Wholesale
of machinery |
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F213080 |
Retail
of mechanical appliance |
l
It is
introduced that the some components for production are purchased from Italy, Japan
and Germany, etc.
Sales Information
l
Subject
is engaged in sales of plastic
injection molding machine, etc.
l
Subject’s sales regions include Asian countries,
Mid-East, Europe, and Africa, etc.
l
The machines
sold by subject are applied to manufacturing of plastic equipment and its
peripheral equipment such as bottle cap, preservation box, and cosmetics
container, etc.
Import and export
right:
|
Import
right |
Yes |
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Export
right |
Yes |
Purchase
Domestic
Purchase (Taiwan and Mainland, China)
|
Payment
Terms |
Proportion |
|
|
Components,
etc |
COD,
CBD, etc |
100% |
Foreign
Purchase
|
Payment
Terms |
Proportion |
|
|
CBD, etc |
100% |
Sales
Domestic
Markets (Taiwan)
|
Sales
Terms |
Proportion |
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Machines |
COD,
CBD, etc |
100% |
Export
|
Sales
Terms |
Proportion |
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|
Machines |
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 Ms. Chen 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 |
Ms. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.72 |
|
UK Pound |
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.70.17 |
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 |
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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.