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Report Date : |
23.07.2013 |
IDENTIFICATION DETAILS
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Name : |
MENG SIN MATERIAL CO., LTD. |
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Registered Office : |
No.16, Ching Chin Rd., Fang Liao Township, Ping Tung County |
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Country : |
Taiwan |
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Date of Incorporation : |
24.02.2005 |
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Com. Reg. No.: |
27218804 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and sales of metal products, etc |
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No. of Employees : |
About 100 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 |
|
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 4.0%. 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
|
Company Name: |
|
|
Former Name: |
Meng Sin Metals
Co., Ltd. |
|
Supplied Name: |
|
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Trading Address: |
No.16, Ching Chin Rd., Fang Liao Township,
Ping Tung County, Taiwan, R.O.C. |
|
Supplied Address: |
|
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Telephone Number: |
+886-8-866-8850 |
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Fax Number: |
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|
Email: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 2005-2-24 with registered
number 27218804 as Private Limited Liability Company in
Taiwan.
Change of Name
|
Former Name |
Meng Sin Metals
Co., Ltd. |
|
Current Name |
Meng Sin Material Co., Ltd. |
|
Name |
Subscription Amount |
|
Zhende Cai |
10,976,510 |
The information
above is that of subject’s major shareholders.
Branch Company
|
Name |
Kaohsiung Branch |
|
Address |
1st
Floor, No.15, Wenbin Road, Sanmin District, Kaohsiung City, Taiwan, R.O.C. |
|
Tel |
+886-7-767-0111 |
|
Fax |
+886-7-767-6333 |
|
Registration
Number |
53823686 |
|
Date of
Registration |
2012-3-28 |
|
Status |
Live Company |
|
Manager Name |
Zhende Cai |
|
Date of Last
Annual Return |
-- |
Core
Management
Director
|
Name |
Zhende Cai |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 100 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.16, Ching Chin Rd., Fang Liao Township, Ping Tung County, Taiwan,
R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of metal
products, etc.
l
Subject has a factory in Ping Tung County, Taiwan for production.
l
Subject obtained the
certification of ISO 9001:2000
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CA01050 |
Steel secondary processing industry |
|
CA02010 |
Manufacturing of metal structures and
architectural elements |
|
CA02990 |
Other metal products manufacturing |
|
CA04010 |
Surface treatment industry |
|
CB01010 |
Machinery and Equipment Manufacturing |
|
F113010 |
Machinery wholesale industry |
|
H703100 |
Real estate leasing industry |
l
The raw materials for production are mostly
purchased in Taiwan domestic market.
l
Subject imports some technology from Japan and
Germany.
Sales
Information
l
Subject is engaged in sale of metal products, etc.
l
Subject’s sales regions include Southeast Asia,
Europe and North America, etc.
l
Subject’s major customers are manufacturers of
building materials and electric appliances, etc
Major products
|
|
Product |
|
1 |
PVC Laminated Steel |
|
2 |
PET-PVC Laminated Steel |
|
3 |
PVF Laminated Steel |
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4 |
Pre-printed Coating Steel |
|
5 |
SMP Coating Steel |
|
6 |
SVP Coating Steel |
|
7 |
PVDF Coating Steel |
|
8 |
PCM Coating Steel |
|
9 |
VCM Laminated Steel |
|
10 |
Whiteboard |
|
11 |
Blackboard |
|
12 |
Pattern Printing Steel |
|
13 |
Aluminum Coating Steel |
|
14 |
Titanium Coating Steel |
|
15 |
Electric Galvanized Steel |
|
16 |
Galvanized Steel |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials |
Cash, T/T, etc |
100% |
Foreign Purchase
Subject has little
import.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Metal products |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Metal products |
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 Ms. Peng 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. Peng |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.41 |
|
|
1 |
Rs.90.74 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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.