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Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
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Name : |
TAIWAN UNION PLASTIC MACHINERY CO., LTD. |
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|
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Registered Office : |
No.7-8, Sinji, Sinji Village, Anding Dist.,
Tainan City |
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Country : |
Taiwan |
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Date of Incorporation : |
04.10.1984 |
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Com. Reg. No.: |
69852291 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of machinery |
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No. of Employees : |
50 |
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.
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Source
: CIA |
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Company Name: |
|
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Supplied Name: |
|
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Trading Address: |
No.7-8, Sinji,
Sinji Village, Anding Dist., Tainan City, Taiwan, R.O.C. |
|
Supplied Address: |
No 7-8 Sinji
Sinji Village Anding Township Tainan COuntry 745 |
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Telephone Number: |
+886-6-593-8821 |
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Fax Number: |
+886-6-593-8802 |
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E-mail: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1984-10-4 with registered number 69852291
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Xiaoting Lu |
24,200 |
|
Zhongting Lu |
|
|
11,500 |
|
|
Quanmin Ni |
2,800 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No.7-8, Sinji, Sinji Village, Anding Dist.,
Tainan City, Taiwan, R.O.C. |
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Date of Registration: |
2003-11-4 |
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Factory Registration Number: |
99684281 |
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Factory Manager: |
Xiaoting Lu |
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Status: |
In Production |
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Date of Last Annual Return: |
2004-11-2 |
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Major Products: |
292 other special machinery equipment 293 general machinery |
Related Company
|
Name: |
Union Plastic (Hangzhou) Machinery Co., Ltd. |
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Address: |
No. 61, South Loop, Lin'an Economic Development Zone, Zhejiang
Province, China |
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Tel: |
+86-571-6107-7986 |
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Fax: |
+86-571-6378-6689 |
Core Management
Directors
|
1 |
|
|
Name |
Xiaoting Lu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Zhongting Lu |
|
Position |
Director |
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Date of Appointment |
1986-10-30 |
|
3 |
|
|
Name |
Quanmin Ni |
|
Position |
Director |
|
4 |
|
|
Name |
Zhixi Lu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 50 Employees (Taiwan) |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.7-8, Sinji, Sinji Village, Anding Dist., Tainan City, Taiwan, R.O.C. |
Production
Information
·
Subject is engaged in manufacturing of machinery
·
It is introduced that subject has factories in
Tainan, Taiwan and Hangzhou City, China for production.
·
Subject’s annual production capacity is over 1,000
units.
Purchase
Information
The registered activities of subject:
|
1 |
Manufacturing, processing and sale of plastic injection machine,
extruder, hydraulic machine, single-function machine |
|
2 |
Manufacturing, processing and sale of all kinds of machinery parts |
|
3 |
Import and export of above items |
The components and raw materials for production are mostly purchased in
domestic market.
·
Subject is engaged in sale of machinery
·
The major products sold by subject include saving
energy injection molding machine, double color injection molding machine, micro
scale high precision injection molding machine, double speed/ pressure, direct
pressure injection molding machine, up-down/ right-left toggle type injection
molding machine, thermosetting injection molding machine, and big shot volume
shoetree injection molding machine
·
Subject’s sales regions include domestic market,
Southeast Asia, Europe and America
·
The machines sold by subject are applied to
manufacturing of houseware, electronic product and shoes
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Components and
raw materials |
Cash, T/T |
100% |
Foreign
Purchase
Subject has little
import.
Sales
Domestic
Markets (Taiwan)
|
Terms |
Proportion |
|
|
Machinery |
Cash, T/T |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery |
L/C, T/T |
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. Lu 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
|
1 |
|
|
Case Type: |
Conditional Sale |
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Certificate No.: |
033066 |
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Debtor Name: |
Taiwan Union Plastic Machinery Co., Ltd. |
|
Document Number: |
09605089220 |
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Date of Registration: |
2007-3-26 |
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Date of Alteration: |
-- |
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Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
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Certificate No.: |
096225 |
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Debtor Name: |
Taiwan Union Plastic Machinery Co., Ltd. |
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Document Number: |
09730423430 |
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Date of Registration: |
2008-11-19 |
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Date of Alteration: |
-- |
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Status: |
Paid off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
098069 |
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Debtor Name: |
Taiwan Union Plastic Machinery Co., Ltd. |
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Document Number: |
09830473040 |
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Date of Registration: |
2009-8-31 |
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Date of Alteration: |
-- |
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Status: |
Paid off |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
|
Name |
Ms. Lu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.