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Report Date : |
06.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SMART MACHINERY CO., LTD. |
|
|
|
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Registered Office : |
3F, No.166, Sec.1, Tashing West Road, Taoyuan City,
Taoyuan County |
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|
|
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Country : |
Taiwan |
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|
|
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Date of Incorporation : |
14.05.1997 |
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|
|
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Com. Reg. No.: |
97455929 |
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Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Manufacture and sales of
knitting machines, etc |
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|
|
|
No. of Employees : |
About 30 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
3F, No.166,
Sec.1, Tashing West Road, Taoyuan City, Taoyuan County, Taiwan, R.O.C. |
|
Supplied Address: |
|
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Telephone Number: |
+886-3-378-5098 |
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Fax Number: |
|
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E-mail: |
Notes:
The exact name and address are as
above.
|
Credit Opinion: |
|
Registered Name: |
Smart Machinery Co., Ltd. |
|
Registered Address: |
3F, No.166, Sec.1, Tashing West Road,
Taoyuan City, Taoyuan County, Taiwan, R.O.C. |
|
Date of Foundation: |
1997-5-14 |
|
Registration Number: |
97455929 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
NTD 5,000,000
(USD 167,000) (As of 2012.09, 1 NTD = 0.0334 USD) |
|
Paid-up Capital: |
NTD 5,000,000 (USD 167,000) |
|
Legal Representatives: |
Xiting Lai |
|
Legal Form: |
|
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Principal Activities: |
|
|
Staff: |
|
|
Listed
at Stock Exchange: |
|
|
Date
of Last Annual Return: |
Subject was incorporated on 1997-5-14 with registered number 97455929 as Joint Stock Company in Taiwan.
|
Name |
Subscription
Shares |
|
Xiting
Lai |
175,000
|
|
Xiuting
Ruan |
100,000
|
|
Fengzhen
Zeng |
75,000 |
|
Yusheng
Ruan |
25,000 |
The information above is that of subject’s major shareholders.
Factory:
|
Name: |
No. 28, Lane 510, Jiadong Rd.,
Bade City, Taoyuan, Taiwan |
Core Management
|
1 |
|
|
Name |
Xiting Lai |
|
Position |
Board Director |
|
2 |
|
|
Name |
Xiuting Ruan |
|
Position |
Director |
|
3 |
|
|
Name |
Fengzhen Zeng |
|
Position |
Director |
|
4 |
|
|
Name |
Yusheng Ruan |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 30 Employees |
Offices & Factories
|
|
Headquarters
|
|
Add |
3F, No.166, Sec.1, Tashing West Road,
Taoyuan City, Taoyuan County, Taiwan, R.O.C. |
Production Information
l
Subject is engaged in
manufacturing of knitting machines,
etc.
l
It is introduced that subject has a factory in Taiwan.
Purchase Information
l
The registered
activities of subject:
|
Business Code |
Details
|
|
-- |
Sales
of whole plant equip, knitting machines and relevant components, etc |
|
-- |
Sales
of all sorts of Textile raw materials, end
products, semi-finished
products and garments, etc |
|
-- |
Agent,
price quoting, bidding service, Import, export and marketing of all kinds of above
mentioned items. |
|
-- |
General
import and export trading business |
l
The components for
production are mostly purchased in Taiwan domestic market.
l
Subject is engaged in
sales of knitting machines, etc.
l
Subject’s sales regions include Southeast Asia, Europe, America, and
other Asian countries.
l
It is introduced that subject’s delivery time is about two months.
Major products sold
|
|
Product |
|
1 |
High
Speed Double Circular Knitting Machine |
|
2 |
High
Speed Rib Circular Knitting Machine |
|
3 |
Pattern
Wheel Rib Mesh Jacquard Circular Knitting Machine |
|
4 |
High
Speed Single Jersey Circular Knitting Machine |
|
5 |
High
Speed Single Terry Circular Knitting Machine |
|
6 |
High Speed
Single Fleece Circular Knitting Machine |
|
7 |
Pattern
Wheel Terry Jacquard Circular Knitting Machine |
|
8 |
Single
Mini Jacquard Circular Knitting
Machine |
|
9 |
Double
Mini Jacquard Circular Knitting Machine |
|
10 |
Super Fine
Gauge Circular Knitting Machine |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
(Taiwan)
|
Payment
Terms |
Proportion |
|
|
Components,
etc |
COD, CBD,
Credit Sales, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
(Taiwan)
|
Sales
Terms |
Proportion |
|
|
Knitting machines, etc |
COD, CBD, etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Knitting machines, etc |
CBD, etc |
100% |
Notes: Subject’s settlement for export is generally in USD
Subject has no obligations to disclose its financial
statements to the third party according to the relevant policy in
Subject’s relevant staff Ms. Hu declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name |
Hong
Kong and Shanghai Banking Corporation Limited Taipei Branch |
|
Address |
17F,
No. 3-1, Yuan Qu Street |
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. Hu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.89 |
|
UK Pound |
1 |
Rs.88.63 |
|
Euro |
1 |
Rs.70.03 |
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 |
|
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.