|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
EVERISING MACHINE
COMPANY |
|
|
|
|
Registered Office : |
No.1, Jingke 1st Rd.,
Nantun District, Taichung City 408, |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
23.06.1982 |
|
|
|
|
Com. Reg. No.: |
52686707 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Manufacturing and sale
of large size band saws and circular saws |
|
|
|
|
No. of Employees : |
180 |
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 : |
No complaints |
|
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: |
No.1, Jingke 1st Rd., Nantun District, Taichung City 408, Taiwan,
R.O.C. |
|
Supplied Address: |
NO.01, JINGKE 1ST ROAD, NANTUN DISTRICT, TAICHUNG 408, TAICHUNG TAIWAN |
|
Telephone Number: |
+886-4-2350-5300/ 2359-3178 |
|
Fax Number: |
|
|
E-mail: |
The exact name and
address are as above.
|
Registered Name: |
Everising Machine
Company |
|
Registered
Address: |
No.1, Jingke 1st
Rd., Nantun District, Taichung City 408, Taiwan, R.O.C. |
|
Date of
Foundation: |
1982-6-23 |
|
Registration
Number: |
52686707 |
|
Registry: |
Taichung City
Government |
|
Registered
Capital: |
NTD 199,000,000 (USD 6,766,000) (As of 2013.12, 1
NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 199,000,000
(USD 6,766,000) |
|
Legal
Representatives: |
Shujia Zhao |
|
Legal Form: |
|
|
Principal
Activities: |
Manufacturing and sale of large size band saws and circular saws, etc |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1982-6-23 with registered number 52686707 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Shujia Zhao |
3,385,000 |
|
Dunli Ke |
|
|
3,435,000 |
|
|
Cangming Zhuang |
3,291,000 |
|
Wenzheng Zhan |
344,000 |
|
Ziquan Zhao |
416,000 |
|
Fengshi Wang |
1,525,000 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No.1, Jingke 1st Rd., Nantun District, Taichung City 408, Taiwan, R.O.C. |
|
Date of
Registration: |
2009-6-12 |
|
Factory
Registration Number: |
99720581 |
|
Factory Manager: |
Shujia Zhao |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2009-6-12 |
|
Major Products: |
292 other special machinery |
Subsidiary
|
Name: |
Kunshan Everising Machinery Co., Ltd. |
|
Address: |
No.886, Jinmao Road, Zhoushi, Kunshan City, Jiangsu Province, China |
|
Tel: |
+86-512-5766-5353 |
Core Management
Directors
|
1 |
|
|
Name |
Shujia Zhao |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Dunli Ke |
|
Position |
Director |
|
3 |
|
|
Name |
Cangming Zhuang |
|
Position |
Director |
|
4 |
|
|
Name |
Wenzheng Zhan |
|
Position |
Director |
|
5 |
|
|
Name |
Ziquan Zhao |
|
Position |
Director |
|
6 |
|
|
Name |
Fengshi Wang |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 180 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.1, Jingke 1st Rd., Nantun District, Taichung City 408, Taiwan, R.O.C. |
Production Information
Subject is engaged in manufacturing of large size band saws and circular saws, etc.
Subject has factories in Taichung City, Taiwan and Kunshan City, Mainland China for production.
It is introduced that subject’s annual production capacity is about 2,000 units.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
|
CB01990 |
Manufacturing of other machines |
|
CD01030 |
Manufacturing of automobile and its parts |
|
CD01040 |
Manufacturing of motor and its parts |
|
F113010 |
Wholesale of machinery |
|
F114030 |
Wholesale of automobile and motor parts |
|
F113990 |
Wholesale of other machines |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The components and raw materials for production are mostly purchased in domestic market.
Subject is engaged in sale of large size band saws and circular saws, etc.
Subject’s sales regions include domestic market, Southeast Asia, Europe and America, etc.
It is introduced
that subject has a proportion of 80% for export.
Subject has their own brand “EVERISING”.
Subject’s major
customers are Victek Machinery Inc (USA) and Mahindra Ugine Steel Company Ltd
(India).
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
Subject has little import.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Saws, etc |
Cash, T/T, etc |
Export
|
Terms |
Proportion |
|
|
Saws, etc |
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 Ms. Zhang 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
|
2002, Zhongjian,
2562 |
|
|
Date of Trial: |
2002-10-16 |
|
Reason: |
Payment for goods |
|
Claimant: |
Everising Machine
Company |
|
Defendant: |
Not Stated |
|
Name |
Ms. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.