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Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
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Name : |
SHINE KON ENTERPRISE CO., LTD. |
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Registered Office : |
1F, No.22, Alley 10, Lane 82, |
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Country : |
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Date of Incorporation : |
22.04.1983 |
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Com. Reg. No.: |
31198604 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of plastic injection molding machines, etc |
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No. of Employees : |
About 59 employees |
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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
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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: |
No 1 171 LandTung Chio Lu Street, Chiolu
Village, Kuei Shan Tao-Yuan Taiwan |
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Supplied Address: |
No 1 171 LandTung Chio Lu Street, Chiolu
Village, Kuei Shan Tao-Yuan Taiwan |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
Subject was incorporated on
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Name |
Subscription Shares |
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Yuan Xiong International Investment Co., Ltd (Literal Translation) |
936,364 |
The information
above is that of subject’s major shareholder.
Kunshan Factory
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Name |
No. 189, Yingbin
East Road, Zhoushi Town, Kunshan City, Jiangsu Province, China |
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Tel |
+86-521-8616-6088 |
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Fax: |
+86-512-8616-6089 |
Core
Management
Directors
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1 |
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Name |
Weifen Zhao |
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Position |
Board Chairman |
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2 |
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Name |
Mingfei Zhao |
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Position |
Director |
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3 |
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Name |
Yongfu Wu |
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Position |
Director |
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4 |
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Name |
Yumei Chen |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 59 employees (Taiwan) About 120 employees (Kunshan) |
Offices
& Factories
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Headquarters |
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Add |
No 1 171 LandTung Chio Lu Street, Chiolu Village, Kuei Shan Tao-Yuan
Taiwan |
Production
Information
l
Subject is engaged in manufacture of plastic
injection molding machines.
l
It is introduced that subject supplies whole plant equipment
manufacturing services including research, development, design, purchase,
manufacture, installation and testing service
Purchase
Information
l
The registered activities of subject:
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1 |
Design, manufacture, installation
business of Automation and chemical machinery and other equipments |
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2 |
Import and export trading business of the above
mentioned items |
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3 |
Bidding service, price quoting service and sales
of the products for domestic and overseas customers (except futures) |
l
Subject purchases both at home and abroad and its
purchasing all depends on the specific conditions and customers’ demands
l
The subject is mainly engaged in sales of plastic
injection molding machines.
l
Subject also supplies the technical service for
customers
l
Subject’s products are both sold in domestic and
overseas market
Major products
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1 |
Flexible
PVC (transparent) Sheet and Film Plant Equipment |
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2 |
Rigid/Semi-rigid PVC Sheet and Film Plant Equipment |
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3 |
PVC Leather and Sponge Leather Plant Equipment |
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4 |
Tarpaulin Coating Equipment |
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5 |
Dry/Wet PU and PVC Synthetic Leather Plant
Equipment |
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6 |
Automatic Screen Printing Equipment |
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7 |
DMF Solvent Recovery Equipment |
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8 |
Plant Utilities |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
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Payment Terms |
Proportion |
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Raw materials,
etc |
COD, Credit
Sales, etc |
100% |
Foreign Purchase
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Payment Terms |
Proportion |
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Raw materials,
etc |
CBD, etc |
100% |
Sales
Domestic Markets
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Sales Terms |
Proportion |
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Plastic
injection molding machines, etc |
CBD, etc |
100% |
Export
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Sales Terms |
Proportion |
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Plastic
injection molding machines, etc |
CBD, etc |
100% |
Notes: It is introduced that the detailed settlement is to be negotiated.
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 cannot 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.
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Department |
Sales department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.58 |
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1 |
Rs.86.60 |
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Euro |
1 |
Rs.68.94 |
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.