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Report Date : |
30.08.2013 |
IDENTIFICATION DETAILS
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Name : |
HARDINGE MACHINE TOOLS B.V., TAIWAN BRANCH (NETHERLANDS) |
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Registered Office : |
No.4, Zihciang 3rd Rd., Nantou City, Nantou County 540 |
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Country : |
Taiwan |
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Date of Incorporation : |
13.10.2008 |
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Com. Reg. No.: |
28439919 |
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Legal Form : |
Branch of Hardinge Machine Tools B.V. |
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Line of Business : |
Manufacturing and sale of machinery, etc. |
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No. of Employees : |
Over 50 Employees |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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. 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 4.0%. 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: |
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Supplied Name: |
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Trading Address: |
No.4, Zihciang 3rd Rd., Nantou
City, Nantou County 540, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-49-226-0536 |
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Fax Number: |
+886-49-226-2203 |
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Email: |
Notes: The exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
Hardinge Machine Tools B.V., Taiwan Branch (Netherlands) |
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Registered Address: |
No.4, Zihciang 3rd Rd., Nantou City, Nantou County 540,
Taiwan (R.O.C.) |
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Date of Foundation: |
2008-10-13 |
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Registration Number: |
28439919 |
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Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
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In the Republic of China Operating Funds: |
(As of 2013.08 1 NTD = 0.0340 USD) |
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Litigation and Non-litigation Agent's Name:: |
Edward J Gaio |
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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: |
Subject was incorporated on 2008-10-13 with registered number 28439919 as a Branch of Hardinge Machine Tools B.V. in Taiwan.
|
Name |
Hardinge Machine Tools B.V. |
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Place of Origin |
Netherlands |
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% of investment |
100% |
|
Name |
Hardinge Machine Tools B.V. |
|
Place of Origin |
Netherlands |
Factory
|
Address: |
No.4, Zihciang 3rd Rd., Nantou City, Nantou County 540,
Taiwan (R.O.C.) |
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Date of Foundation: |
1998-12-2 |
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Factory Registration Number: |
99652309 |
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Factory Manager: |
Minghui Qiu |
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Status: |
In Production |
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Date of Last Annual Return: |
2012-11-22 |
Related Companies
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1 |
|
|
Name |
Hardinge Inc. |
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Address |
One Hardinge
Drive, Elmira, NY 14902-1507 USA |
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Telephone Number |
+1-607-734-2281 |
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Fax Number |
+1-607-734-8819 |
|
2 |
|
|
Name |
Jones &
Shipman Hardinge Ltd. |
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Address |
Murrayfield
Road, Leicester, LE3 1UW, England |
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Telephone Number |
+44-116-201-3000 |
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Fax Number |
+44-116-201-3002 |
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3 |
|
|
Name |
Hardinge GmbH |
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Address |
Fichtenhain A 13
C, D-47807 Krefeld, Germany |
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Telephone Number |
+49-2151-496490 |
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Fax Number |
+49-2151-4964999 |
|
4 |
|
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Name |
L. Kellenberger
& Co. AG |
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Address |
Heiligkreuzstrasse
28, Postfach, Ch-9008 St., Gallen, Switzerland |
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Telephone Number |
+41-071-242-9111 |
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Fax Number |
+41-071-242-9222 |
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5 |
|
|
Name |
Hardinge China
Limited |
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Address |
No.1388 East
Kang Qiao Road, Pudong District, Shanghai 201319 |
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Telephone Number |
+86-21-3810-8686 |
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Fax Number |
+86-21-3810-8681 |
Core
Management
|
Name |
James P. Langa |
|
Position |
Manager |
Personnel
Structure
|
Total Employees |
Over 50 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.4, Zihciang 3rd Rd., Nantou City, Nantou County 540,
Taiwan (R.O.C.) |
l
Subject is engaged in manufacturing of machinery,
etc.
l
Subject has a factory (about 12,000 square meters)
in Nantou County, Taiwan for
production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
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CB01990 |
Manufacturing of other machines |
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CC01010 |
Manufacturing of power equipment, transmission
equipment, and distribution equipment |
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CC01020 |
Manufacturing of wire and cable |
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CD01030 |
Manufacturing of auto and its parts |
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CD01040 |
Manufacturing of motor and its parts |
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CD01060 |
Manufacturing of aircraft and its parts |
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F106010 |
Wholesale of ironware |
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F113010 |
Wholesale of machinery |
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F113030 |
Wholesale of precise instrument |
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F113070 |
Wholesale of telecom equipment |
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F114010 |
Wholesale of automobile |
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F114020 |
Wholesale of motor |
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F114030 |
Wholesale of auto, motor and parts |
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F114070 |
Wholesale of aircraft and its parts |
|
F119010 |
Wholesale of electronic materials |
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F401010 |
International trade business |
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F601010 |
intellectual property business |
l
The components for production are purchased from
both home and abroad such as domestic market, Japan, and Germany.
Sales
Information
l
Subject is engaged in sale of machinery, etc.
l The major products
sold by subject include CNC lathes, vertical machining centers, horizontal
machining centers, 5-axis VMC, grinder, and workholding, etc.
l Subject’s sales
regions include Asia, Europe and America, etc.
l It is introduced
that subject sells products to their group companies in different parts of the
world.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
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Components |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
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Components |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
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Machinery |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery |
Interior
Settlement, L/C, T/T, 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 Mr. Xie 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 |
Mr. Xie |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.70 |
|
|
1 |
Rs.105.14 |
|
Euro |
1 |
Rs.90.03 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
-- |
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.