|
Report Date : |
14.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
YUELI MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
1F, No.10,
9th Road, Industrial Park, Taichung, Taiwan, R.O.C. |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
16.07.2010 |
|
|
|
|
Com. Reg. No.: |
34219456 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of pulp and paper
and corrugated machinery. |
|
|
|
|
No. of Employees : |
250 |
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 : |
Slow but correct |
|
|
|
|
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: |
Yueli Machinery Co., Ltd. |
|
Supplied Name: |
YUELI MACHINERY CO LTD |
|
Trading Address: |
No.10, 9th Road, Industrial Park, Taichung, Taiwan, R.O.C. |
|
Supplied Address: |
10th 09th Road Industrial Park Taichung Taiwan |
|
Telephone Number: |
+886-4-2359-1221/+886-4-2359-0134
(Sales) |
|
Fax Number: |
+886-4-2359-3864 |
|
E-mail: |
Notes: The exact
name and address are as above.
The registered information is the latest
registered information from local registry.
Subject was incorporated on 1978-6-14 with registered number 34219456 as Joint Stock Company in Taiwan.
Change of Name
|
Former
English Name |
Yue
Li Machinery Co., Ltd. |
|
Current
English Name |
Yueli Machinery Co., Ltd. |
Standard of Blue chip importer and exporter
|
Name |
Subscription Shares |
|
Wenxuan Zheng |
4,628,883 |
| Yuqing
Su |
660,929 |
|
Peiqi Zheng |
298,068 |
|
Yueli International Co, Ltd |
1,292,000 |
|
Dengtian Guo |
134,285 |
|
Guanlun Gan |
74,713 |
|
Songxing Guo |
61,885 |
|
Jingchang Ye |
101,388 |
|
Jinming Wu |
12,945 |
The information
above is that of subject’s major shareholders.
|
1 |
|
|
Registered Name: |
Yueli
International Co, Ltd |
|
Registered Address: |
1F, No.10, 9th Road, Industrial
Park, Taichung, Taiwan, R.O.C. |
|
Date of Foundation: |
2010-7-16 |
|
Registration Number: |
53073712 |
|
Registry: |
Taichung City Government |
|
Registered Capital: |
NTD 30,000,000 (USD 1,005,000) (As of 2013.12, 1 NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 17,000,000 (USD 569,500) |
|
Legal Representatives: |
Yisheng Shen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-7-24 |
Factory
|
Address: |
No.10, 9th Road, Industrial Park, Taichung, Taiwan, R.O.C. |
|
Date of Foundation: |
1981-7-23 |
|
Date of Registration: |
1983-9-25 |
|
Factory Registration Number: |
99669124 |
|
Factory Manager: |
Wenxuan Zheng |
|
Status: |
In Production |
|
Date of Last Annual Return: |
1983-9-25 |
|
Major Products: |
241 Steel 292 Other
professional machinery 293 General
machinery 281 Machinery
for electricity generation, electricity transmission and distribution of
electricity |
Related Company (related factory)
|
Name |
Wuxi Yueli Machinery Co., Ltd. |
|
Address |
No. 88, Shengxin
Road, Luoshe Development Area, Huishan District, Wuxi City, Jiangsu Province,
China |
|
Tel |
+86-510-8383-1711 |
|
Fax: |
+86-510-8383-2443 |
|
E-mail: |
|
|
Area |
43,212 square
meters |
Core
Management
Directors
|
1 |
|
|
Name |
Wenxuan Zheng |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yuqing Su |
|
Position |
Deputy Chairman |
|
3 |
|
|
Name |
Peiqi Zheng |
|
Position |
Director |
|
4 |
|
|
Name |
Gulong Zheng |
|
Position |
Director |
|
Date of
Appointment |
2004-5-24 |
|
5 |
|
|
Name |
Dengtian
Guo |
|
Position |
Director |
|
6 |
|
|
Name |
Guanlun Gan |
|
Position |
Director |
|
7 |
|
|
Name |
Songxing Guo |
|
Position |
Director |
|
8 |
|
|
Name |
Jingchang Ye |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Jinming Wu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 250 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a manufacturer of pulp and paper and corrugated machinery, etc.
l
It is introduced that subject has a factory in
Taiwan and a related factory in Wuxi, Jiangsu Province, the mainland of China
for production.
l
It is introduced that subject has obtained ISO 9001
certification.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
D101060 |
Generating equipment for renewable resources. |
|
C399990 |
Manufacturing of other spinning and products. |
|
CA01030 |
Casting of steel. |
|
CB01010 |
Manufacturing of machinery and equipment. |
|
CC01010 |
Manufacturing of machinery for electricity
generation, electricity transmission and distribution of electricity. |
|
CD01060 |
Manufacturing of aircraft and its components. |
|
CP01010 |
Manufacturing of hand tools. |
|
F106010 |
Wholesales of hardware. |
|
F111090 |
Wholesales of construction materials. |
|
F206010 |
Retails of hardware. |
|
F211010 |
Retails of construction materials. |
|
F401010 |
International trading business. |
l
The components and raw material for production are
purchased both at home and abroad.
l
It is introduced that subject imports some
technologies and etc from Japan, Finland, Austria and etc.
l
It is introduced that subject has business partners
for production and technical support such as Valmet (Finland),
Tampella (Finland) and IBS (Austria), etc
l
The subject is mainly engaged in sales
of pulp and paper and corrugated
machinery, etc.
l
Subject’s selling territory includes China, Japan,
Europe and USA, etc
l
It is introduced that subject’s major customers are
paper-making industry and etc.
l
It is introduced that subject also provides
relevant technology support service and etc.
Major products
|
Corrugating
Machine |
Mill Roll Stand Single Facer Overhead Bridge Triple Preheater
Glue Machine Double Facer NC Slitter Scorer
NC Double
Cut-off Double Auto
Cut-off Double Auto Down
Stacker Auto Splicer Rotary Shear Production
Control System |
|
Flexo Printer
Slotter |
JUMBO CNC Flexo
Printer Slotter Die Cutter CNC Flexo Folder
Gluer Feeder Printer Creaser &
Slotter Rotary Die
Cutter |
|
Paper Machinery |
Fourdrinier
Paper Machine Multi-Wire
Former Paper Machine Hydraulic
Headbox Wire Section Press Section Dryer Section Size Press Calender Reel Rewinder |
|
Pulp Machinery
Stock Preparation |
PS/PH Pressure
Screen Double Disk Refiner Hydro-Power
Pulper |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Product |
Payment Terms |
Proportion |
|
Raw materials and components, |
COD, Credit Sales, |
100% |
Foreign Purchase
|
Product |
Payment Terms |
Proportion |
|
Raw materials and components, |
CBD, L/C, Credit Sales |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Pulp and paper and
corrugated machinery |
COD, CBD |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Pulp and paper and
corrugated machinery |
CBD |
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 Operator 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
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
019793 |
|
Debtor Name: |
Yueli Machinery Co., Ltd. |
|
Document Number: |
191932 |
|
Date of Registration: |
1983-11-17 |
|
Date of Alteration: |
1983-11-17 |
|
Status: |
Paid off |
Lawsuit
|
|
|
|
Trial Number: |
2006,Zhongjian,3161 |
|
Date of Trial: |
2007-1-30 |
|
Reason: |
|
|
|
|
|
Trial Number: |
2006,Zhongbu,540 |
|
Date of Trial: |
2006-5-19 |
|
Reason: |
Payment for goods |
|
Name |
The Operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
|
|
1 |
Rs.101.53 |
|
Euro |
1 |
Rs.85.41 |
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 |
|
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.