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Report Date : |
01.02.2013 |
IDENTIFICATION DETAILS
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Name : |
SHIN MOLD PRECISION INDUSTRY CO., LTD. |
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Registered Office : |
No.46, Nan 1 Lane, Horng Yih 2 Road, Nanzih District, Kaohsiung |
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Country : |
Taiwan |
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Date of Incorporation : |
24.06.1992 |
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Com. Reg. No.: |
86459223 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Design, development, manufacture and sales of Al/Mg/Zn alloy die casting mould. |
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No. of Employees : |
About 38 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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. 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 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, 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 so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. 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 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken 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. 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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Former Name: |
Shin Shyng
Enterprise Co., Ltd. |
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Supplied Name: |
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Trading Address: |
No.206, Lane 80, Chinan Road, Dashe District, Kaohsiung City, Taiwan |
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Supplied Address: |
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Telephone Number: |
+886-7-355-3003 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
Shin Mold Precision Industry Co., Ltd. |
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Registered Address: |
No.46, Nan 1 Lane, Horng Yih 2 Road, Nanzih
District, Kaohsiung, Taiwan, R.O.C. |
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Date of Foundation: |
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Registration Number: |
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Registry: |
Economic Development Bureau Kaohsiung City Government |
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Registered Capital: |
(As of 2013.1, 1 NTD = 0.0339 USD) |
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Legal Representatives: |
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Legal Form: |
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Principal Activities: |
Design, development,
manufacture and sales of Al/Mg/Zn alloy die casting
mould. |
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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 1992-6-24 with registered
number 86459223 as Private Limited Liability Company in Taiwan.
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Former English
Name |
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Current English
Name |
Shin Mold
Precision Industry Co., Ltd. |
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Name |
Subscription Amount |
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3,240,000 |
The information
above is that of subject’s major shareholders.
Core
Management
|
Name |
Dangcai Lin |
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Position |
Director |
Personnel
Structure
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Total Employees |
About 38 Employees |
Offices
& Factories
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|
Headquarters |
|
Add |
No.206, Lane 80, Chinan Road, Dashe District, Kaohsiung City, Taiwan |
Production
Information
l
Subject is engaged in designing, development and
manufacturing of Al/Mg/Zn alloy die casting mould for
components of automobiles, autocycles, mobile phone shells,
notebooks and etc.
l
It is introduced that the subject has the factory
in Taiwan, but the exact location is not available from the valid sources.
l
The subject has equipment as follows: CAD/CAM
system, CNC machine center, Graphite CNC milling, Milling (Manual), CNC EDM,
Surface grinder, Universal tool grinder, Die spotting press, Coordinate
measuring machine, Measuring machine
l
The subject has obtained ISO 9001: 2008
certificated.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
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-- |
Designing and development of plastic moulds. |
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-- |
Sales of machines, components, hardware and iron
material. |
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-- |
Sales and trade business for importing and
exporting of moulds. |
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-- |
Agent of quote, bid and handle for above products
from domestic and foreign manufacturers |
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CQ01010 |
Manufacture of moulds |
l
The raw materials and equipment are purchased both
in domestic and foreign market.
l The subject is
engaged in sales of Al/Mg/Zn alloy die casting moulds.
l
The main export products of subject includes:
aluminum die casting molds, magnesium die casting molds, zinc die casting
molds, plastic injection molds, die casting tool making, die casting tool
design, die casting dies modification
l
The subject’s selling territory includes South
Africa, United States, Mainland China, India, Japan, Malaysia, Pakistan,
Singapore, Thailand, Germany, Hungary and etc.
l
The products of subject are sold to the
manufacturers of automobiles, autocycles, mobile phone shells,
notebooks and etc.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
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COD, CBD, Credit
Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
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Raw materials
and equipment |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
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Al/Mg/Zn alloy
die casting moulds |
Export
|
Sales Terms |
Proportion |
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Al/Mg/Zn alloy
die casting moulds |
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. Qiu 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 |
Ms. Qiu |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
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|
1 |
Rs.84.22 |
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Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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.