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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
PAI LUNG MACHINERY MILL CO., LTD |
|
|
|
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Registered Office : |
No.8, Ting Ping Rd., Ruifang Dist., New
Taipei City 224, Taiwan (R.O.C.) |
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|
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Country : |
Taiwan |
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|
|
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Date of Incorporation : |
10.06.1977 |
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Com. Reg. No.: |
20765242 |
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Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
Manufacturing and sales of circle knit, flat knit machines, etc |
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|
|
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No. of Employees : |
200 |
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 |
a |
|
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: |
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|
Supplied Name: |
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Trading Address: |
No.8, Ting Ping Rd., Ruifang Dist., New
Taipei City 224, Taiwan (R.O.C.) |
|
Supplied Address: |
NO. 8, TING, PING ROAD, JUEI-FANG INDUSTRIAL AREA, JUEI-FANG TOWN TAIPEI
COUNTR |
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Telephone Number: |
+886-2-2497-8888 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact name and address are above.
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Registered Name: |
|
|
Registered Address: |
No.8, Ting Ping Rd., Ruifang Dist., New Taipei City 224, Taiwan
(R.O.C.) |
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Date of Foundation: |
1977-6-10 |
|
Registration Number: |
20765242 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
NTD 496,000,000 (USD 16,534,300) (As of 2013.04, 1 NTD = 0.0333 USD) |
|
Paid-up Capital: |
NTD 432,147,110 (USD 14,405,800) |
|
Legal Representatives: |
Bingci Wang |
|
Legal Form: |
|
|
Principal Activities: |
Manufacturing and sales of circle knit, flat
knit machines, etc |
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject
was incorporated on 1977-6-10 with registered number 20765242 as Private Limited Liability
Company in Taiwan.
Awards
|
Year |
Awards |
|
2008 |
Blue chip
importer and exporter |
|
2009 |
Blue chip
importer and exporter |
|
2010 |
Blue chip
importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
Subscription Shares |
|
|
Jiancang Wang |
10,586,265 |
|
Longsheng Investment Company Limited (Literal Translation) |
|
|
6,201,544 |
|
|
Zhaowei Investment Company Limited (Literal Translation) |
6,201,544 |
|
Wanyi Chen |
1,647,010 |
|
Jinchuan Sun |
1,421,205 |
|
Linjinhua Chen |
1,283,834 |
|
Shiyang Chen |
14,852 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
Longsheng
Investment Company Limited (Literal Translation) |
|
Date of Foundation: |
1996-1-30 |
|
Registration Number: |
96932446 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 38,200,000 (USD 1,273,410) (As of 2013.04, 1 NTD = 0.0333 USD) |
|
Paid-up Capital: |
NTD 28,000,000 (USD 933,389) |
|
Legal Representatives: |
Bingci Wang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last
Annual Return: |
2012-2-15 |
|
Principal
Activities: |
|
|
2 |
|
|
Name |
Zhaowei Investment Company Limited (Literal Translation) |
|
Date of Foundation: |
1996-2-1 |
|
Registration Number: |
96933938 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 38,200,000 (USD 1,273,410) (As of 2013.04, 1 NTD = 0.0333 USD) |
|
Paid-up Capital: |
NTD 28,000,000 (USD 933,389) |
|
Legal Representatives: |
Bingci Wang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last
Annual Return: |
2012-2-14 |
|
Principal
Activities: |
Investment in productive enterprises, etc |
|
3 |
|
|
Name |
|
|
Address |
No.178 Huangzhou
Street, Huanggang City, Hubei Province, China |
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Telephone Number |
+86-713-8396-888 |
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Fax Number |
+86-713-8396-298 |
|
4 |
|
|
Name |
Vanguard Pai
Lung LLC |
|
Address |
|
Core
Management
Directors
|
1 |
|
|
Name |
Bingci Wang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Bozhen Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Jiancang Wang |
|
Position |
Director |
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Date of
Appointment |
1997-6-13 |
|
4 |
|
|
Name |
Wanyi Chen |
|
Position |
Director |
|
5 |
|
|
Name |
Jinchuan Sun |
|
Position |
Director |
|
6 |
|
|
Name |
Linjinhua Chen |
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Position |
Supervisor |
|
7 |
|
|
Name |
Shiyang Chen |
|
Position |
Supervisor |
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8 |
|
|
Name |
Pengfei Su |
|
Position |
Supervisor |
Personnel
Structure
|
Total
Employees |
About 200 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.8, Ting Ping Rd., Ruifang Dist., New Taipei City 224, Taiwan
(R.O.C.) |
Production
Information
l
Subject is engaged in manufacturing of circle knit and flat knit machines, etc
l
It is introduced that subject has a related company
PaiLung (Hubei) Manufacturing Co., Ltd, which has a factory about 120,000
square meters for production.
l
Subject obtained certification of ISO
9001:2000.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C801120 |
Synthetic fiber industry |
|
C805050 |
Industrial plastic products manufacturing |
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C805070 |
Reinforced plastic products manufacturing |
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C805990 |
Other plastic products manufacturing |
|
CB01010 |
Machinery and equipment manufacturing |
|
JE01010 |
Rental services |
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F118010 |
Wholesales of information software |
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F218010 |
Retails of information software |
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I301010 |
Services of information software |
|
CD01030 |
Automobile and parts manufacturing |
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F114030 |
Wholesales of car and motorcycle spare parts |
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F214030 |
Retails of equipped with car, motorcycle parts |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
It is introduced that subject purchases components
and raw material mostly from abroad.
l
Subject is engaged in
sales of circle knit and flat knit machines, etc.
l
Major products
|
Type |
Item |
|
Circle Knit |
Single Kint,
Double Kint, Rib Knit, Terry Knit, Special Frame, Special Frame, Ultra High
Speed Series, etc. |
|
Flat Knit |
-- |
l
Subject has own brand “PAILUNG”.
l
It is introduced that subject has won
229 patents.
l
It is introduced that subject’s selling territories
are in mainland China, Middle East, Southeast Asia, Europe and USA, etc.
l
It is introduced that subject’s
products are mainly applied to apparel manufacture, accessory manufacture, and
upholstery manufacture, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
(Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Components |
COD, CBD, etc |
100% |
Foreign
Purchase
Sales
Domestic
Markets (Taiwan)
|
Sales
Terms |
Proportion |
|
|
Circle
knit, flat knit, etc |
COD.
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Circle
knit, flat knit, 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 Taiwan and the only source from which
we can obtain the information is the subject itself.
Subject’s relevant staff Mr. Eric declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
|
Name |
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.
|
Position |
Sales Manager |
|
Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
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 |
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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.