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Report Date : |
07.02.2013 |
IDENTIFICATION DETAILS
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Name : |
JOEN LIH MACHINERY CO., LTD. |
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Registered Office : |
No.27, Lane 192, Sec.1, |
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Country : |
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Date of Incorporation : |
10.05.1988 |
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Com. Reg. No.: |
22918336 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of industrial
equipment, etc |
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No. of Employees : |
About 50 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
|
Country Name |
Previous Rating (31.03.2012) |
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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Supplied Name: |
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Trading Address: |
No.240-1, Sec.
1, Dafeng Rd., Tantzu Dist., Taichung City 427, Taiwan R.O.C. |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as
above.
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Registered Name: |
JOEN LIH MACHINERY CO., LTD. |
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Registered Address: |
No.27, Lane 192, Sec.1, Tung Shan Rd.,
Taichung, Taiwan R.O.C. |
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Date of Foundation: |
1988-5-10 |
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Registration Number: |
22918336 |
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Registry: |
Central Region Office, Ministry of Economic
Affairs |
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Registered Capital: |
(As of 2013.02, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 20,000,000 (USD 678,000) |
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Legal Representatives: |
Xintang Lin |
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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 1988-5-10 with registered number 22918336
as Joint Stock Company in
Taiwan.
Awards
|
Year |
Awards |
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2010 |
Blue chip importer and exporter |
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2011 |
Blue chip importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
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2010 |
20,000,000 |
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2011 |
22,000,000 |
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Name |
Subscription Shares |
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Xintang Lin |
4,500 |
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Ruitang Lin |
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4,100 |
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Zhoutan Lin |
3,800 |
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Hongyi Lin |
3,800 |
The information above is that of subject’s major shareholders.
Core Management
Directors
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1 |
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Name |
Xintang Lin |
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Position |
Board Chairman |
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2 |
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Name |
Ruitang Lin |
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Position |
Director |
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3 |
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Name |
Zhoutan Lin |
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Position |
Director |
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4 |
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Name |
Hongyi Lin |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 50 employees |
Offices &
Factories
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Headquarters |
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Add |
No.240-1, Sec. 1, Dafeng Rd., Tantzu Dist., Taichung City 427, Taiwan
R.O.C. |
Production Information
Subject is mainly engaged in manufacture of high-precision and CNC
(computerized numerically controlled) surface grinding machines.
It is introduced that subject has been certificated by ISO9001, etc
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
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CB01010 |
Manufacture of mechanical equipment |
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CB01990 |
Manufacture of other machinery |
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CC01010 |
Manufacture of power generation, transportation and distribution
equipment |
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F401010 |
International Trading Business |
Subject purchases raw materials, components both at home and abroad.
It is introduced that subject cooperates with Japanese partner to
satisfy special specification requirements.
The subject is mainly engaged in sales of
high-precision and CNC (computerized numerically controlled) surface grinding
machines, etc
Subject’s products are both sold in domestic and overseas market and it
is introduced that subject’s sales mainly focus on Asia and America, etc
Major products
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1 |
High Precision and Performance Hand Operated Surface Grinder |
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2 |
Semi-Auto Precision Surface Grinder |
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3 |
Hydraulic Series Surface Grinder |
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4 |
Auto. Down Feed Series Surface Grinder |
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5 |
Full 3-Axis Automatic Surface Grinder |
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6 |
CNC Surface Grinder |
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7 |
High Precision Micro-Grooving Machine |
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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Raw materials
and components, etc |
COD, Credit
Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
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Raw materials
and components, etc |
CBD, etc |
100% |
Sales
Domestic Markets
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Sales Terms |
Proportion |
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Machines |
CBD, etc |
100% |
Export
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Sales Terms |
Proportion |
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Machines |
CBD, 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 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 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.
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Department |
Sales department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.53.08 |
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|
1 |
Rs.83.11 |
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Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.