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Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
JIEN TSUN MACHINERY INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
No.90, Lane 325, Do Yuan W. Rd., He Hsin
Tsun, Pi Tou Hsiang, Chang Hua Hsien, |
|
|
|
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Country : |
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|
|
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Date of Incorporation : |
30.06.1992 |
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|
|
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Com. Reg. No.: |
86776038 |
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|
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Legal Form : |
Private Limited Company |
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|
|
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Line of Business : |
Manufacture and sales of locomotive and bicycle
rims production equipments, etc |
|
|
|
|
No. of Employees : |
16 |
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 |
|
Payment Behaviour : |
No complaints |
|
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 |
|
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 |
|
Company Name: |
Jien Tsun Machinery Industrial Co., Ltd. |
|
Supplied Name: |
Jien Tsun Machinery Industrial Co Ltd |
|
Trading Address: |
No. 125, Lane 802, Feng Lung Rd.,, Feng Lung Village Pitou Township,,
Changhua County, Taiwan |
|
Supplied Address: |
No 125 Lane 802 Fenglung Village Pitou Hsiang Changhua Hsien 523 Taiwan |
|
Telephone Number: |
+886-4-8922430 |
|
Fax Number: |
+886-4-8928642 |
Notes: Subject’s
exact name and address are as above.
|
Registered Name: |
Jien Tsun Machinery Industrial Co., Ltd. |
|
Registered Address: |
No.90, Lane 325, Do Yuan W. Rd., He Hsin Tsun, Pi Tou Hsiang, Chang Hua
Hsien, Taiwan |
|
Date of Foundation: |
|
|
Registration Number: |
86776038 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
(As of 2012.09, 1 NTD = 0.0337 USD) |
|
Legal Representatives: |
Chunxun Luo |
|
Legal Form: |
|
|
Principal Activities: |
Manufacture and sales
of locomotive and bicycle
rims production equipments, etc |
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on
Change of Name
|
Former Chinese
Name |
見春機械有限公司 |
|
Current Chinese
Name |
見春機械工業有限公司 |
|
Former English
Name |
JIEN TSUN
MACHINERY CO., LTD. |
|
Current English
Name |
JIEN TSUN
MACHINERY INDUSTRIAL CO., LTD. |
|
Name |
Subscription Amount |
|
Chunxun Luo |
2,350,000 |
The information above is that of subject’s major shareholders.
Core
Management
Director
|
Name |
Chunxun Luo |
|
Position |
Director |
Personnel Structure
|
Total Employees |
About 16 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No. 125, Lane 802, Feng Lung Rd.,, Feng Lung Village Pitou Township,,
Changhua County, Taiwan |
Production Information
l
Subject is engaged in manufacture of bicycle and motorcycle rim production
equipments, etc
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacture of mechanical equipment |
|
F113010 |
Wholesales of machinery |
|
F401010 |
International Trading Business |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
Subject purchases components and raw materials
both at home and abroad and subject’s purchasing all depends on specific
conditions and customers’ demands
l
The subject is mainly
engaged in sales of bicycle and motorcycle rim production equipments, etc
l
Subject’s major products
include material rest, molding machines, rolling machines, cut-off machines,
Wheel welding machines, welding machines, lapping machines, Joint milling
machines, glazing machines, eyelet machines, drilling machines, riveting
machines, edging machines and wheel rim packaging machines, etc
l
Subject also supplies the design and development service of whole plant
equipments
l
Subject’s products are
both sold in domestic and overseas market and subject exports to Europe,
Middle East and Other Asian Countries, etc
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 |
|
|
Bicycle and motorcycle rim production equipment, etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Bicycle and motorcycle
rim production 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.53.57 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.