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Report Date : |
19.01.2013 |
IDENTIFICATION DETAILS
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Name : |
HUARONG PLASTIC MACHINERY CO., LTD. |
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Formerly Known As : |
HUARONG MACHINERY CORP. |
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Registered Office : |
No.37-1, Shalun, Jhonglun, Anding Dist., Tainan
City, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
02.08.1996 |
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Com. Reg. No.: |
97079523 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of injection molding
machine, etc |
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No. of Employees : |
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) |
|
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. 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: |
HUARONG MACHINERY CORP. |
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Supplied Name: |
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Trading Address: |
No.37-1, Shalun,
Jhonglun, Anding Dist., Tainan City, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-6-593-9888 |
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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: |
Subject was incorporated on
1996-8-2 with registered number 97079523 as Joint Stock
Company in Taiwan.
Change
of Name
|
Former Chinese Name |
華嶸塑料機械股份有限公司 |
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Current Chinese Name |
華嶸精密機械股份有限公司 |
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Former English Name |
Huarong Machinery Corp. |
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Current English Name |
Huarong Plastic Machinery Co.,
Ltd. |
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Name |
Subscription Shares |
|
Dongbin Xiao |
20,160 |
|
Wenxiu Xu |
693 |
|
Lanmei Ye |
12,600 |
|
Lihua Li |
9,135 |
The information
above is that of subject’s major shareholders.
Branch Companies
|
Name |
An Ding Branch |
|
Address |
No.7, Shalun Sa, Zhongsha Village, An-Ding District, Tainan City,
Taiwan |
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Registration Number |
80098455 |
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Date of Registration |
2002-12-11 |
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Status |
Live Company |
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Manager Name |
Dongbin Xiao |
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Date of Last Annual Return |
-- |
|
Name |
Wuxi Huarong Digital Control Machinery Co., Ltd. |
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Address |
Yizhuang Yuan Road, Yixing Guanlin Town, Wuxi City, Jiangsu Province,
China |
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Telephone Number |
+86-510-8720-7622 |
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Fax Number |
+86-510-8720-7619 |
Core
Management
Directors
|
1 |
|
|
Name |
Dongbin Xiao |
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Position |
Board Chairman |
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2 |
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Name |
Wenxiu Xu |
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Position |
Director |
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3 |
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Name |
Lanmei Ye |
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Position |
Director |
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4 |
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Name |
Lihua Li |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 50 Employees |
Offices
& Factories
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|
Headquarters |
|
Add |
No.37-1, Shalun, Jhonglun, Anding Dist., Tainan
City, Taiwan (R.O.C.) |
Production
Information
l
Subject is engaged in manufacturing of
injection molding machine, etc.
l
Subject obtained the certification of
ISO 9001:2000 and CE.
l
It is introduced that subject has
factories in Taiwan and Wuxi City, mainland China for production.
l
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
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F113010 |
Wholesale of machinery |
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F213080 |
Retail of machinery |
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F113990 |
Wholesale of other mechanical appliance |
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F213990 |
Retail of mechanical appliance |
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C805030 |
Manufacturing of plastic daily necessities |
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C805050 |
Manufacturing of industrial plastic
products |
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F401010 |
International trade business |
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CB01990 |
Manufacturing of other machinery |
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CE01990 |
Manufacturing of other optical and
precision instruments |
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E604010 |
Installation of machinery |
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F113030 |
Wholesale of precise instrument |
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F213040 |
Retail of precise instrument |
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I501010 |
Product design |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The components for production are
mostly purchased in domestic market.
l
l
Subject is engaged in sales of injection
molding machine, etc.
l
Subject’s sales regions include Asia,
Europe, Canada, USA, and Mexico, etc.
l
It is introduced that subject has
agents in Mainland China, Canada and Mexico.
Major products
|
Type |
Product |
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Horizontal Injection |
Series Injection Molding Machine Servo Hydraulic Injection Molding Machine Large Width Injection Molding Machine Two Platen Injection Molding Machine Servo Hydraulic For Application Of Medical Parts Accumulator High-Speed Injection Molding Machine Thermosetting Bakelite Injection Molding Machine Co Injection Molding Machine In Mold Labeling Injection Molding Machine PET Perform Injection Molding Machine Rigid Injection Molding Machine Bulk Moulding Compound Injection Molding
Machine |
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Vertical Injection |
Vertical Clamping Vertical Injection Vertical Clamping Horizontal Injection |
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Machine Center |
Linear Guide Way Box Guide Way |
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Other Models |
Bit Making Machine Special Machine For Making PE Tube Fittings Horizontal Closed-Vertical Injection Molding Machine Rubber Injection Machine Hot Press |
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Domestic
Purchase (Taiwan and Mainland, China)
|
Payment
Terms |
Proportion |
|
|
Components |
COD,
CBD, etc |
100% |
Subject has little
import.
Sales
Domestic Markets (Taiwan and Mainland, China)
|
Sales
Terms |
Proportion |
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Machines |
COD,
CBD, etc |
Export
|
Sales
Terms |
Proportion |
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Machines |
CBD,
etc |
100% |
Notes: Subject’s
settlement for export is generally in USD
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. Zeng 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 |
Ms. Zeng |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.53.94 |
|
UK Pound |
1 |
Rs.86.24 |
|
Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
|
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.