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Report Date : |
08.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
Tung Yu Hydraulic Machinery Co. Ltd. |
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Registered Office : |
1, 2F., No.12, Yongsin Road, Nan Kung Industrial Zone, Nontou County
540 |
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Country : |
Taiwan |
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Date of Incorporation : |
05.12.2002 |
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Com. Reg. No.: |
80094633 |
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Legal Form : |
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Line of Business : |
Manufacture and
sales of industrial machines, etc. |
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No. of Employees : |
About 160 Employees |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaint |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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: |
1,2F., No.12, Yongsing Rd., Nantou City, Nantou County 540, Taiwan
(R.O.C.) |
|
Supplied
Address: |
No. 12, Yongsin Road, nan kung Industrial Zone, Nontou County 540,
Taiwan |
|
Telephone
Number: |
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Fax Number: |
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E-mail: |
Notes:
Subject’s exact name and address
are as above.
Subject was incorporated on 2002-12-5 with registered number 80094633 as Joint Stock Company in Taiwan.
Awards
|
Year |
Awards |
|
2010 |
Blue chip importer and exporter |
|
2011 |
Blue chip importer and exporter |
Standard
of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2010 |
20,000,000 |
|
2011 |
22,000,000 |
|
Name |
Subscription Shares |
|
Zhenbin Yang |
2,415,000 |
|
Ruipin Xu |
920,000 |
|
Xizhun Yang |
1,955,000 |
The information above is that of subject’s major shareholders.
Plant in the mainland of China
|
Tung Yu (Ningbo) Hydraulic Industries Co., Ltd. |
|
|
Address |
NO.166 Dongsheng Rd., Zone A, Zhenhai Economic Development
Zone, Ningbo, Zhejiang, China |
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Tel: |
+86-574-86598056 / +86-574-86598058 |
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Fax: |
+86-574-86599050 |
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E-mail: |
Tokyo Branch Company
|
Name |
NITTO CO., LTD. |
|
Address |
Toda Building 5F , 21 Yotsuya 1-Chome, Shinjuku-ku, Tokyo
160-0004 Japan |
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Tel: |
+81-3-53668255 |
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Fax: |
+81-3-53668252 |
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E-mail: |
Representatives
|
REP
INTERNATIONAL 15, rue
du Dauphine 69960 CORBAS, France TEL:
+33-4-72215353 E-mail:
commercial@repgroup.net TUNG YU
（ INDIA ） LIAISON OFFICE Suite 3091
, C-wing, Oberoi Garden Estates Off Sakivihar Road, Chandivali, Andheri
(East) Mumbai-400 072, India Tel:
+91-22-28474832 PT.
SOLIDTECH INDONESIA CBD @
Jababeka Blok F-22 Jl.Niaga Raya Kav. AA3.Jababeka, Cikarang Barat, Bekasi.Jawa
Barat 17530 Tel:+62-21-29082738 JUGI
CORPORATION Room
403, Korea Paint & Ink Hall, 204-6, Nonhyun-dong, Gangnam-gu, Seoul,
Korea TEL：+82-2-5478254 E-mail:
sale@jugicorp.com CENTRE
WEST INDUSTRIAL SUPPLIES SDN. BHD. No. 9,
Jalan TSB 8, Taman Industri Sungai Buloh , 47000 Sungai Buloh, Selangor Darul
Ehsan , Malaysia Tel:
+60-3-6157-6688 E-mail:
centwest@centrewest.com.my REP
CORPORATION 8 N 470
Tameling Court P.O. Box 8146 BARTLETT , Illinois 60103-8146 USA TEL:
+1-847-6977210 E-mail:
repmail@repcorp.com RTI-SNAB
LTD. Polzunova
st. 3, Tula 300028, Russia Tel:
+7-495-7617422 (in Moscow) / +7-4872-356367( in Tula) REP
INTERNATIONAL 15, rue
du Dauphine 69960 CORBAS, France TEL:
+33-4-72215353 Whuaychin
Mach-Tech And Service(1996) Co.,Ltd.. 89/8
Moo 11 T.Bangpla A.Bangplee Samutprakarn 10540 Tel:
+66-2-7522340 E-mail:
tungyu@tungyu.com VIZYOTEK SAN.MAK.PAZ.BAK. VE
SER.HIZ.SAN.TIC.LTD.ŞTI. 21.yy
Cd. 18.Sk. Zigana Sit. No.4 Bademli Bursa Türkiye Tel:
+90-224-5491208 GSM：+90.532.266 47 84 E-mail:
vizyotek@vizyotek.com.tr CANTAKE
CO., LTD. (KHANGDUC CO., LTD.) 27/10B
Cong Hoa St., Ward 4, Tan Binh Dist, HCM City, Vietnam Tel :
+84-8-948.5506 E-mail: bencheng@hcm.fpt.vn |
Core Management
Directors
|
1 |
|
|
Name |
Zhenbin Yang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Ruipin Xu |
|
Position |
Director |
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3 |
|
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Name |
Xizhun Yang |
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Position |
Director |
Offices &
Factories
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|
Headquarters |
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Add |
1,2F., No.12, Yongsing Rd., Nantou City,
Nantou County 540, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacture of hydraulic press equipment, etc
It is introduced that subject has been certificated by ISO 9001, CE,
EMC.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacture of mechanical equipment |
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E603050 |
Automatic Control Equipment Engineering |
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CQ01010 |
Manufacture of moulds |
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F401010 |
International Trading Business |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject purchases raw materials and components both at home and abroad.
The subject is mainly engaged in sales of
hydraulic press equipment, etc
It is introduced that subject’s products are applied to the sectors of
Automotive parts, 3C, Aerospace, Military, Medical equipment, Transportation,
Tire-Retread, Solid Tire, Rubber block, Conveyor belt, Dock fence
manufacturing.
Subject’s products are both sold in domestic and overseas market and it
is introduced that subject exports to over 60 countries.
Major products
|
1 |
Rubber Compression Molding Machine |
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2 |
Rubber Injection Molding Machine |
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3 |
Hydraulic press |
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4 |
Vulcanizer For Rubber |
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5 |
New tire / Retread Tire Curing Machine |
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6 |
Carbon Fiber and Composite Material Molding Machine |
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7 |
Preformer |
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8 |
Slab-Side Compression Molding Machine |
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9 |
Transfer Injection Compression Molding Machine |
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10 |
Hot Press |
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11 |
Rotocure Press |
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12 |
Continuous Pressing Line for Conveyor Belt & |
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13 |
Synthetic Rubber Sheets |
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15 |
Conveyor Belt Vulcanizer |
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16 |
Rubber Hot Forming Press |
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17 |
Tire Retread Machine |
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18 |
Inner Tube Vulcanizer |
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19 |
Other Rubber Processing Machine |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic
Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials and components, etc |
COD,
Credit Sales, etc |
100% |
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials and components, etc |
CBD,
Credit Sales, etc |
100% |
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Industrial
machines |
CBD,
etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Industrial
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
|
Trial Number |
2011,Toujian,180 |
|
Trial Date |
2011-8-30 |
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Cause |
|
Department |
Sales department
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.14 |
|
|
1 |
Rs.83.27 |
|
Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
|
<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.