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Report Date : |
30.08.2013 |
IDENTIFICATION DETAILS
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Name : |
MULTIPLAS ENGINERY CO., LTD. |
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Registered Office : |
Hwa-Ya Technology Park, No.65, 7th Road, Gueisha, Taoyuan |
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Country : |
Taiwan |
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Date of Incorporation : |
27.06.1988 |
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Com. Reg. No.: |
23010965 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of injection molding machine. |
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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 |
|
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 |
|
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 4.0%. 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
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
Hwa-Ya Technology Park, No.65, 7th
Road, Gueisha, Taoyuan, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-3-318-0090 |
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Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1988-6-27 with registered
number 23010965 as Joint Stock Company in Taiwan.
|
Subscription Shares |
|
|
Yongjin Hu |
4,229,183 |
|
Yuejiao Weng |
1,395,719 |
|
Qiaoqin Hu |
1,429,908 |
|
Yuren Li |
495,806 |
The information
above is that of subject’s major shareholders.
Related Company:
|
1 |
|
|
Name |
|
|
Address |
Huaqiao Town, Kunshan,
Jiangsu Provice, China. |
|
Telephone Number |
+86-512-5769-9188 |
|
Fax Number |
+85-512-5771-9318 |
|
Principal Activities: |
Manufacture and sales of injection molding machine. |
Agents:
|
1 |
|
|
Name |
Taipei
Industries Pte. Ltd. |
|
Address |
2 Kallang
Pudding Road, #02-15 Mactech Industrial Building Singapore 349307 |
|
2 |
|
|
Name |
Pt. Plastech
Dinamika |
|
Address |
Kompl. Duta
Merlin Blok, F 8-9-10,Jl. Gajah Mada No. 3-5,Jakarta 10130, Indonesia. |
|
3 |
|
|
Name |
Senur Plastik
Sistemleri |
|
Address |
Akcaburgaz
Mahallesi. 2. Cadde. No:26 Kat: 3 Esenyurt / Istanbul-Turkey |
|
4 |
|
|
Name |
Plastech &
Co. |
|
Address |
8/1 Apun Street
Upper Yokneam 20692, Israel |
|
5 |
|
|
Name |
Imex Italia Srl |
|
Address |
Via T. A.
Edison, 13 37029 San Pietro in Cariano (VR) / Italy |
|
6 |
|
|
Name |
New Pacific
Machinery, Inc. |
|
Address |
1264, Hay
45,By-Pass,P.O.Box 467, Trenton, Tennessee 38382,USA. |
Factory In Taiwan
|
Name: |
Guishan Factory |
|
Address: |
1/2F, No. 65, 7 Science
And Technology Road, Cultural Village, Guishan Township, Taoyuan County,
Taiwan. |
|
Date of Registration: |
2002-2-5 |
|
Factory Registration Number: |
99623189 |
|
Factory Manager: |
|
|
Status: |
In Production |
|
Date of Last Annual Return: |
2002-2-5 |
Core
Management
|
1 |
|
|
Name |
Yongjin Hu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yuejiao Weng |
|
Position |
Director |
|
3 |
|
|
Name |
Qiaoqin Hu |
|
Position |
Director |
|
4 |
|
|
Name |
Yuren Li |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 160 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Hwa-Ya Technology Park, No.65, 7thRoad, Gueisha, Taoyuan, Taiwan,
R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of injection molding machine.
l
Subject has 2 factories in Taiwan and Mainland
China for production.
l
Subject obtained the certification of ISO 9002.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing processing and sales business of
the mould hydraulic machinery precision industrial components. |
|
-- |
Manufacturing business of plastic machinery,
rubber machinery. |
|
-- |
Import and export trade business of related
product above. |
|
-- |
The relevant domestic and foreign manufacturers
of products agency tender offer, distribute. |
|
CC01080 |
Manufacturing business of electronic components. |
|
C805050 |
Manufacturing business of industrial plastic
products |
|
F119010 |
Wholesale trade of electronic material |
l
The components and raw materials for production are
purchased from both home and abroad.
l The subject is mainly
engaged in sales of injection molding
machine.
l The major products
sold by subject include Vertical Type, Horizontal Type, Thermoset, Liquid
silicone rubber, Automatic Production System, Customization.
l The products are
applied in the industries of electrical, automotive, medical and optical, etc.
l The subject sales regions include Asia, Europe, America, etc.
l Subject has its own
brand “Multiplas”.
l Subject’s main
customers include “Amp”, “Siemens”, “Panasonic”, “Molex”, etc.
Major products
sold
|
Type |
Product |
|
|
General Purpose for Single-component |
Vertical Type |
Horizontal Type |
|
General Purpose for Multi-component or
Multi-color |
Vertical Type |
Horizontal Type |
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Special Purpose |
Thermoset (bmc, rubber etc.) Liquid silicone rubber (lsr) Automatic Production System Customization |
|
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components And
Raw Materials |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Components And
Raw Materials |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Machinery |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery |
L/C, 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. David declined to disclose its
financials citing the grounds of company’s confidentiality; 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.
|
Name |
Mr. David |
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 |
|
|
>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.