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Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
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Name : |
INSTRUMATIC CORPORATION |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27.10.1997 |
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Com. Reg. No.: |
16117456 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of Industrial Safety, Environment Protection, Gas Detection,
Flame Detection System and any equipment relate to Semiconductor Industry |
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No. of Employees : |
Not Available |
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: |
+886-7-3355182 |
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Fax Number: |
+886-7-3322099
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E-mail: |
Notes: Subject’s exact name, address and valid contact are as above.
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Credit Opinion: |
Notes: subject did not introduce its staff number and from other source we can not obtain the relevant information, either.
Subject was incorporated on
|
Name |
Subscription Shares |
|
Lijin Yang |
459,000 |
|
Wende Xu |
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|
458,000 |
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Fuxing Xu |
1,092 |
The information above is that of subject’s major shareholders.
Offices
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Hsin-Chu Office No.317,sec.1,Fusing
E.Rd.,Jhubei City,Hsinchu County 302,Taiwan,R.O.C TEL:
+886-3-6587887 FAX:
+886-3-6587892 E-mail: imc@imc-asia.com.tw Tai-Nan Office No.15, Gangkou,
Anding Dist., Tainan City 745, Taiwan (R.O.C.) TEL: +886-6-5939051 FAX:
+886-6-5939293 E-mail: imc@imc-asia.com.tw Shanghai Office TEL:
+86-21-56966806 FAX:
+86-21-56966805 E-mail: imc@imc-asia.com.tw Shenzhen Office 406.Unit3.Building5
2nd Donghuan Road Longhua Sub-District Office of ShenZhen BaoAn district TEL:
+86-755-29767715 FAX:
+86-755-83137515 E-mail: imc@imc-asia.com.tw |
Core
Management
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1 |
|
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Name |
Lijin Yang |
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Position |
Board Chairman |
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2 |
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Name |
Wende Xu |
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Position |
Director |
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3 |
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Name |
Wenjin Xu |
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Position |
Director |
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4 |
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Name |
Fuxing Xu |
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Position |
Supervisor |
Offices
& Factories
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|
Headquarters |
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Add |
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Production
Information
l
Subject is a trader of Industrial Safety, Environment Protection, Gas Detection, Flame Detection
System and any equipment relate to Semiconductor Industry, etc
Purchase
Information
l
The major registered activities of subject:
|
1 |
Sales of electrical
products, Mechanical Hardware, sports equipment,
Rust prevention and fire safety materials, etc |
|
2 |
Sales of all kinds of Science industry and environmental
monitoring instruments |
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3 |
Sales of All kinds of telecom (electronic)
equipment (except controlled telecommunications equipment) |
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4 |
Import and export business for the above
mentioned products |
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5 |
General import and export trading business
(besides Licensing business) |
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6 |
Contracting business of iron work, machinery,
electric welding, rust-proof and fire protection equipment projects. |
|
7 |
Contracting business
of industrial and environmental protection equipment maintenance projects. |
l
Subject purchases mainly
abroad from USA, etc
Subject is the agent
distributor of Det-tronics, Kidde, Synectics, ANSUL, Simtronics, etc
l
The subject is mainly
engaged in sales of Industrial Safety, Environment Protection, Gas Detection,
Flame Detection System and any equipment relate to Semiconductor Industry, etc
l
Subject’s products are
mainly sold in domestic market.
l
Subject’s customers include
TSMC, TAINET COMMUNICATION SYSTEM CORP., CHIMEI INNOLUX CORPORATION and
CHUNGHWA PICTURE TUBES, LTD., etc
Major products
sold
|
1 |
|
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2 |
Flame Detect |
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3 |
Gas Detector |
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4 |
Spare parts, etc |
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
Subject has little
domestic purchase
Foreign Purchase
|
Payment Terms |
Proportion |
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Industrial Safety equipment, etc |
CBD, Credit
Sales, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
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Industrial Safety equipment and service, etc |
CBD, COD,
Installment, etc |
100% |
Export
Subject has little export business
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 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 and 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.53.63 |
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UK Pound |
1 |
Rs.86.18 |
|
Euro |
1 |
Rs.69.75 |
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.