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Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
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Name : |
UNITED SYSTEM ENGINEERING INC. |
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Registered Office : |
1FL., No.40, Sec.2, Ho Ping W. Rd., Taipei |
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Country : |
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Date of Incorporation : |
31.08.1989 |
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Com. Reg. No.: |
23446709 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of power generation, transportation and distribution
equipment |
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No. of Employees : |
Not Available |
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RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Stopped Business |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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
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Country Name |
Previous Rating (31.03.2011) |
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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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: |
Notes: Subject’s registered name is as above and it is introduced that subject
is still located at the supplied address.
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Credit Opinion: |
Since subject has stopped its business, thus
we did not give the credit rating. |
We tried to
contact subject according to the
supplied phone number +886-2-2506-5977,
the relevant staff confirmed subject’s name and address and introduced that
subject has stopped its business, and declined to disclose any more details.
But subject’s registration files show that subject is still active.
From Public files we found that subject was engaged in environmental engineering,
but the information is not confirmed.
We found subject’s registration files from local registry, supplying as
follows for reference.
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Registered Name: |
United System Engineering Inc. |
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Registered Address: |
1FL., No.40, Sec.2, Ho Ping W. Rd., Taipei Taiwan R.O.C. |
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Date of Foundation: |
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Registration Number: |
23446709 |
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Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2012.10, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 26,800,000 (USD 908,520) |
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Legal Representatives: |
Jin Liao |
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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: |
Notes: It is introduced that subject has stopped
its business, thus Principal Activities
and staff information are not available.
Subject was incorporated on
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Name |
Subscription Shares |
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Jin Liao |
482 |
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Yuanfu Zhuo |
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536 |
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Yisheng Energy Technology Co., Ltd (Literal
Translated) |
536 |
The information
above is that of subject’s major shareholders.
Core
Management
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1 |
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Name |
Jin Liao |
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Position |
Board Chairman |
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2 |
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Name |
Yuanfu Zhuo |
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Position |
Director |
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3 |
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Name |
Huimei Zhangxu |
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Position |
Director |
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4 |
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Name |
Yourong Zhang |
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Position |
Supervisor |
Offices
& Factories
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Headquarters |
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Add |
Operation
Information
Subject’s staff
introduced that subject has stopped its business at present; we supplied the
registered activities of subject as follows for reference
l
The registered activities of subject:
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Business Code |
Details |
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CC01010 |
Manufacture of power generation, transportation
and distribution equipment |
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CC01060 |
Manufacture of Cable communication mechanical
equipment |
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CC01070 |
Manufacture of wireless communication mechanical
equipment |
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CC01080 |
Manufacture of Electronic Components |
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CC01090 |
Manufacture of battery |
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CC01110 |
Manufacture of computer and Peripheral Equipment |
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F113050 |
Manufacture of computer and Affairs machines |
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F401010 |
International Trading Business |
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E603050
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Automatic control equipment engineering |
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E603080 |
Traffic signal installation |
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E601010 |
Electrical bearing outfit industry |
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IG03010 |
Energy Technology Service |
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IZ09010 |
Management system verification industry |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Since subject does not have purchase and sales business, thus the
settlement is not available.
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 bankers; 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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.63 |
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1 |
Rs.86.17 |
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Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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.