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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
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Name : |
SINOTECH MACHINERY TAIWAN CO., LTD. |
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Registered Office : |
No.19, Lu-Kong South 2nd Road, Lu-Kang,
Chang-Hwa |
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Country : |
Taiwan |
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Date of Incorporation : |
10.05.1984 |
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Com. Reg. No.: |
59350740 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of machinery, etc |
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No. of Employees : |
About 50 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
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 |
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High |
B2 |
|
Very High |
C1 |
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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: |
Sinotech Machinery Taiwan Co., Ltd. |
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Former Name: |
Yu Chin Machinery Co., Ltd. |
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Supplied Name: |
Sino Tech Machinery Taiwan Co Ltd. |
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Trading Address: |
No.19, Lu-Kong South 2nd Road, Lu-Kang,
Chang-Hwa, Taiwan, R.O.C. |
|
Supplied Address: |
19, Lu-Kong South 2nd Road, Lu-Kang, Chang
Hwa Taiwan |
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Telephone Number: |
+886-4-781-0228 |
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Fax Number: |
+886-4-781-0220 |
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E-mail: |
Notes: The exact name and address are as
above.
|
Registered Name: |
SINOTECH MACHINERY TAIWAN CO., LTD. |
|
Registered Address: |
No.19, Lu-Kong South 2nd Road, Lu-Kang,
Chang-Hwa, Taiwan, R.O.C. |
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Date of Foundation: |
1984-5-10 |
|
Registration Number: |
59350740 |
|
Registry: |
MOEA Central Office |
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Registered Capital: |
NTD 130,000,000 (USD 4,420,000) (As of 2013.04, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 130,000,000 (USD 4,420,000) |
|
Legal Representatives: |
Shiming Huang |
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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: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1984-5-10 with registered number 59350740
as Joint Stock Company in Taiwan.
Change of Name
|
Former Name |
Yu Chin Machinery Co., Ltd. |
|
Current Name |
Sinotech Machinery Taiwan Co., Ltd. |
|
Name |
Subscription Shares |
|
Shiming Huang |
120 |
|
Sino International Holdings Limited |
129,700 |
|
Shirao Huang |
45 |
|
Xinjin Lin |
45 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
Sino International Holdings Limited |
|
Address |
Flat B1, 4/F Yip Fung Industrial Building 28-36 Kwai Fung Crescent
Kwai Chung, New Territories, Hong Kong |
|
Date of Registration |
1994-9-20 |
|
Registered Number |
491615 |
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Telephone Number |
+852-2307-0068 |
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Fax Number |
+852-2307-0070 |
|
2 |
|
|
Name |
Sino Machinery & Tools (Dongguan) Co., Ltd. |
|
Address |
1st Industrial Park, Tianwei Village, Changping Town,
Dongguan City, Guandong Province, China |
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Telephone Number |
+86-769-8393-9183 |
|
Fax Number |
+86-769-8393-9181 |
Core Management
Directors
|
1 |
|
|
Name |
Shiming Huang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Junjie Huang |
|
Position |
Director |
|
3 |
|
|
Name |
Shiran Huang |
|
Position |
Director |
|
4 |
|
|
Name |
Xinjin Lin |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 50 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.19, Lu-Kong South 2nd Road, Lu-Kang, Chang-Hwa, Taiwan, R.O.C. |
Production
Information
Subject is engaged in manufacturing of machinery, etc.
Subject has factories in Chang-Hwa,
Taiwan (about 8,000 square meters) and Dongguan City, Guangdong Province, China
(about 40,000 square meters) for production.
Subject obtained the certifications of ISO
9001 and ISO 9002.
Purchase
Information
The registered activities of subject:
|
1 |
Manufacturing, processing and sales of punching machine, shearing
machine, folding machine, hydraulic machine |
|
2 |
Manufacturing, processing and sales of sheet metal machinery, machine
tools, particular machinery |
|
3 |
Manufacturing, processing and sales of machinery components, tools,
and automobile components |
|
4 |
Import and export of above items |
The components for production are purchased from both home and abroad.
It is introduced that subject imports some technology from Japan and
USA.
Subject is engaged in sales of machinery,
etc.
Subject has their own brand “SINO”.
Subject’s sales regions include domestic market, mainland China, Japan,
Singapore, Malaysia, USA and Europe, etc.
The machines sold by subject are applied to manufacturing of automobile,
electronic equipment, home appliance, and toy, etc.
Major products
|
Product |
Sales Region |
|
1 |
Open Back Single Crank Press |
|
2 |
Open Back Double Crank Press |
|
3 |
High Speed Precision Power Press |
|
4 |
Straight Side High Speed Precision Double Crank Press |
|
5 |
Straight Side Single Crank Press |
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6 |
Straight Side Double Crank Press |
|
7 |
Straight Side Single Crank Line Motion Press |
|
8 |
Straight Side Double Crank Link Motion Press |
|
9 |
H Frame Single Crank Press |
|
10 |
Straight Side High Speed Precision Single Crank Press |
|
11 |
Straight Side Double Crank Press With Transfer Unit |
|
12 |
High Speed Precision Power Press |
|
13 |
Gear-Change Type |
|
14 |
High Speed Leveler |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components |
COD, CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Components |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Machinery |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Machinery |
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’s relevant staff Ms. Chen 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 cannot 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.
|
Name |
Ms. Chen |
|
Department |
Sales Department |
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 : |
SDA |
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.