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Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
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Name : |
RIU PRECISION HARDWARE FASTENER CO., LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.06.2010 |
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Com. Reg. No.: |
24517569 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trade of fastener and the related products. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
|
|
A2 |
A2 |
|
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.
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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: |
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E-mail: |
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Credit Opinion: |
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Registered Name: |
Riu Precision Hardware
Fastener Co., Ltd. |
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Registered Address: |
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Date of Foundation: |
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Registration Number: |
24517569 |
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Registry: |
Economic Development
Bureau, Kaohsiung City |
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Registered Capital: |
(As of 2012.9, 1 NTD = 0.03402 USD) |
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Paid-up Capital: |
NTD 3,800,000 (USD
129,294) |
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Legal Representatives: |
Xuehong Wu |
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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: |
Note:
Subject declined to disclose the staff number, and from other sources, we couldn’t obtain the information, either.
Subject was incorporated on
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Subscription
Shares |
|
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Xuehong Wu |
100,000 |
|
Xingen Rao |
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100,000 |
|
|
Jixiang Rao |
90,000 |
The information above is that of subject’s major shareholders.
Parent Company
|
Name |
GWO LIAN Machinery |
Core
Management
|
1 |
|
|
Name |
Xuehong Wu |
|
Position |
Board of Chairman |
|
2 |
|
|
Name |
Xingen Rao |
|
Position |
Director |
|
3 |
|
|
Name |
Jixiang Rao |
|
Position |
Director |
|
4 |
|
|
Name |
Huiying Wu |
|
Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Add |
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Production
Information
l
Subject is a trader of fasteners and the related
products without any production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F106010 |
Wholesale of
hardware |
|
F113010 |
Wholesale of
precious machinery |
|
F113030 |
Wholesale of the
machinery |
|
F206010 |
Retail of
hardware |
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F213040 |
Retail of
precious machinery |
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F213080 |
Retail of the
machinery |
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F401010 |
International
trade |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
l
The productions are mostly purchased from local.
l
Subject is mainly engaged in trading of fasteners
and the related products.
l
Subject introduced that it purchases the products
from the related company, in local Taiwan, but subject declined to disclose the
name of the company.
l
Subject introduced that Major products sold as
following:
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Product |
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Screws |
Screws |
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Self-drilling
screws |
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Nuts |
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Stamping parts |
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Thread rods |
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Washers |
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Wire |
Wire rod and
wire |
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Brighe bar |
|
Machine |
Straight line
wire drawing machine |
|
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Combined
descaling machine |
|
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Handstand type
wire drawing machine |
|
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Automatic wire
feeding and shaving machine |
|
|
Others |
l
Subject’s selling territory covers all over the
world, such as Sweden, U.S.A, France, England and so on.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Subject declined to disclose the settlements information, and from other sources, we couldn’t obtain the information, either.
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 Peter Wang declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
The bankers’ information is not available from the subject or other sources.
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 |
Peter Wang |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.58 |
|
UK Pound |
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.94 |
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 |
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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 |
|
<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.