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Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHIAO SHENG MACHINERY CO., LTD. |
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|
|
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Registered Office : |
No.2, Sec.2, Huandong Rd., Tainan Science Park, Sinshih District,
Tainan City 741 |
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Country : |
Taiwan |
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Date of Incorporation : |
07.04.1982 |
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Com. Reg. No.: |
69718507 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer and Sales of Machinery etc. |
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No. of Employees : |
About 160 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 (31.03.2011) |
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. 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 1.8%, due
primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%,
as exports returned to the level of previous years, and in 2011, grew 4.1%. In
2012, however, growth fell to 1.3%, 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 except for the landmark Economic
Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far
Taiwan has been excluded from this greater economic integration in part because
of its diplomatic status. Negotiations continue on such follow-on components of
ECFA regarding trade in goods and services. The MA administration has said that
the ECFA will serve as a stepping stone toward trade pacts with other key trade
partners, which Taiwan subsequently launched with Singapore and New Zealand.
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 11.2% of the island's
total population as of 2012. The island runs a large trade surplus largely
because of its surplus with China, and its foreign reserves are the world's fifth
largest, behind China, Japan, Saudi Arabia, and Russia. In 2006 China overtook
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.
In August 2012, Taiwan Central Bank signed a memorandum of understanding on
cross-Strait currency settlement with its Chinese counterpart. The MOU allows
for the direct settlement of Chinese RMB and the New Taiwan dollar across the
Strait, which could help develop Taiwan into a local RMB hub. 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: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.2, Sec.2, Huandong
Rd., Tainan Science Park, Sinshih District, Tainan City 741, Taiwan, R.O.C. |
|
Supplied Address: |
No 2 Sec 2 Huangdong Rd Taiwan Science Park Sinshit Township Taiwan
74144 Taiwan |
|
Telephone Number: |
+886-6-505-5800 |
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Fax Number: |
|
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E-mail: |
The exact name and
address are as above.
|
Registered Name: |
Chiao Sheng
Machinery Co., Ltd. |
|
Registered Address: |
No.2, Sec.2,
Huandong Rd., Tainan Science Park, Sinshih District, Tainan City 741, Taiwan,
R.O.C. |
|
Date of
Foundation: |
1982-4-7 |
|
Registration
Number: |
69718507 |
|
Registry: |
Southern Science
Park Administration |
|
Registered
Capital: |
NTD 105,000,000 (USD 3,570,000) (As of 2013.04, 1
NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 105,000,000
(USD 3,570,000) |
|
Legal
Representatives: |
Shengcong Wang |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated on 1982-4-7 with registered number 69718507 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Shengcong Wang |
4,905 |
|
Xingzhu Yang |
|
|
1,141 |
|
|
Jiawei Wang |
2,240 |
|
Shizong Fan |
1,050 |
The information above is that of subject’s major shareholders.
Office
|
Name |
Dongguan Office |
|
Address |
Yinhu District, Qingxi Town, Dongguan City, Guangdong Province, China |
|
Telephone Number |
+86-769-733-1690 |
|
Fax Number |
+86-769-733-1550 |
Core Management
Directors
|
1 |
|
|
Name |
Shengcong Wang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Xingzhu Yang |
|
Position |
Director |
|
3 |
|
|
Name |
Jiawei Wang |
|
Position |
Director |
|
4 |
|
|
Name |
Shizong Fan |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 160 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.2, Sec.2, Huandong Rd., Tainan Science Park, Sinshih District, Tainan City 741, Taiwan, R.O.C. |
Production
Information
Subject is engaged in manufacturing of machinery, etc.
Subject has a factory (about 13,000 square meters) in Tainan science park, Taiwan for production.
Subject obtained the certifications of CE, ISO 9001 and ISO 9002.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
|
-- |
Manufacturing, research, development and sales of intelligent CNC pipe bending machine and its related components |
|
-- |
Import and export of above items |
The components for production are purchased from both home and abroad.
Subject is engaged in sale of machinery, etc.
The major products sold by subject include NC hydraulic bender, CNC wire bending cell, symmetric bender, CNC tube bending cell, automatic circular sawing machine, circular sawing, and riveting, etc.
Subject has their own brand “CSM”.
Subject’s sales regions include Asia, Europe and America, etc.
The products sold by subject are applied to automotive, aviation, furniture, and ship building, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components |
COD, CBD, etc |
100% |
|
Product |
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. Wang 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 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 |
|
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.17 |
|
|
1 |
Rs.82.99 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.