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Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
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Name : |
DOGETECH INDUSTRIAL CO., LTD. |
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Registered Office : |
No.1-18, |
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Country : |
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Date of Incorporation : |
01.02.1996 |
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Com. Reg. No.: |
96865642 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and |
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No. of Employees : |
About 30 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 4.1%. 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.1-18,
Cyuansing Rd., Shengang Township, Changhua County 509, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-4-798-0187 |
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Fax Number: |
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E-mail: |
Notes: The exact
name and address are as above and the supplied name belongs to subject’s
related company in USA..
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Credit Opinion: |
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Registered Name: |
Dogetech Industrial Co., Ltd. |
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Registered Address: |
No.1-18, Cyuansing Rd., Shengang Township, Changhua
County 509, Taiwan (R.O.C.) |
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Date of Foundation: |
1996-2-1 |
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Registration Number: |
96865642 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2013.07, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 20,000,000 (USD 680,000) |
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Legal Representatives: |
Yirong Chen |
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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 1996-2-1 with registered number 96865642 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Yirong Chen |
274,117 |
|
Fuming Liu |
500,000 |
|
Fuzheng Yang |
297,648 |
|
Kunsheng Guo |
26,649 |
The information above is that of subject’s major shareholders.
Related Companies
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|
|
|
Name |
Hangzhou Tung Hsia Textile Machinery Co., Ltd. |
|
Address |
No.279, Shiqiao Road, Hangzhou City, Zhengjiang Province, China |
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Telephone Number |
+86-571-8813-6568 |
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Fax Number |
+86-571-8813-6355 |
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Name |
Dogetech Machinery Manufacturing (P) Ltd. |
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Address |
3 B Aparna Appts S N Colony, Coimbatore, Tamil Nadu, India |
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Telephone Number |
+91-422-249-4256 |
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3 |
|
|
Name |
Dogetech International Llc. |
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Address |
Wilmington, De 19801, USA |
Core
Management
|
1 |
|
|
Name |
Yirong Chen |
|
Position |
Board Chairman |
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2 |
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|
Name |
Fuming Liu |
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Position |
Director |
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3 |
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|
Name |
Fuzheng Yang |
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Position |
Director |
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4 |
|
|
Name |
Kunsheng Guo |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 30
Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.1-18, Cyuansing Rd., Shengang Township,
Changhua County 509, Taiwan (R.O.C.) |
l
Subject is engaged in manufacturing of textile machine
l
Subject has factories in Taiwan, Mainland China and
India for production.
l
Subject obtained the certification of ISO
9001:2008.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
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E604010 |
Installation of machinery |
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E605010 |
Installation of computer |
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F113010 |
Wholesale of machinery |
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F113020 |
Wholesale of electrical equipment |
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F113030 |
Wholesale of precise instrument |
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F113070 |
Wholesale of telecom equipment |
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F113110 |
Wholesale of battery |
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F119010 |
Wholesale of electronic material |
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F213010 |
Retail of electrical equipment |
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F213040 |
Retail of precise instrument |
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F213060 |
Retail of telecom equipment |
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F213080 |
Retail of machinery |
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F213110 |
Retail of battery |
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F219010 |
Retail of electronic material |
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F401010 |
International trade business |
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I101110 |
Textile consultant business |
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I103060 |
Management consultant business |
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I199990 |
Other consultant business |
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I301030 |
Electronic information supply business |
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IF02010 |
Maintaining and testing of electric
equipment |
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IG03010 |
Energy technology services |
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J101050 |
Environmental testing services |
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J101080 |
Resources recovery business |
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JA02010 |
Repairing of electrical equipment and
electronic products |
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JE01010 |
Leasing industry |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The raw materials for production are mostly
purchased in domestic market.
l
It is introduced that subject imports some
technology from Japan and USA.
l
Subject is engaged in sale of textile machine.
l
Subject’s sales regions include South Korea, China,
Philippines, Vietnam, Indonesia, Thailand, India, Bangladesh, Uzbekistan,
Turkey, Iran, Syria, and South Africa, etc.
l
Subject’s major customer is garment manufacturer.
Major products
|
Type |
Product |
|
In House |
High Speed Draw Frame with Autoleveller Auto Leveler for Draw Frame Ultra Short Term Auto Leveler for Carding Machine Auto Doffer for Ring Frame |
|
Associate |
Spares for OE Spinning Machinery Waste Recovery Line Rapier Looms/ Jacquard Looms/ Airjet Looms Fully Computerized Hosiery Machine Inverters with Energy Management System Knitting Machines and Spares High Speed Olive Type Cone Winder Non-Woven Fabric Machinery |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
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|
Components |
Cash,
T/T, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
(Taiwan and Mainland China)
|
Terms |
Proportion |
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Machines |
Cash,
T/T, etc |
Export
|
Sales
Terms |
Proportion |
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|
Machines |
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. Wang 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. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.98 |
|
|
1 |
Rs.101.49 |
|
Euro |
1 |
Rs.84.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.