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Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
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Name : |
FELCA INTERNATIONAL CORP. |
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Registered Office : |
2F., No.120-1, Niaosong 3rd St., Yongkang Dist., Tainan City 710 |
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Country : |
Taiwan |
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Date of Incorporation : |
14.03.1989 |
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Com. Reg. No.: |
23212759 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of industrial equipment and components, etc |
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No. of Employees : |
About 30 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 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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
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Company Name: |
|
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Former Name: |
Felca
International Trading Company Ltd. |
|
Supplied Name: |
|
|
Trading Address: |
No.120-1, Niaosong 3rd St.,
Yongkang Dist., Tainan City 71042, Taiwan, R.O.C. |
|
Supplied Address: |
No. 120-1 Niaosong 3rd St Yongkang District
Tainan City 71043 Taiwan |
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Telephone Number: |
+886-6-242-3111 |
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Fax Number: |
+886-6-242-5699 |
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
|
Registered Name: |
Felca International Corp. |
|
Registered Address: |
2F., No.120-1, Niaosong 3rd St., Yongkang Dist., Tainan City 710,
Taiwan (R.O.C.) |
|
Date of Foundation: |
1989-3-14 |
|
Registration Number: |
23212759 |
|
Registry: |
Tainan City Government |
|
Registered Capital: |
NTD 20,100,000
(USD 683,400) (As of 2013.06, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 20,100,000 (USD 683,400) |
|
Legal Representatives: |
Shumei Dai |
|
Legal Form: |
|
|
Principal Activities: |
Manufacturing and sale
of industrial equipment and components, etc |
|
Staff: |
|
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Listed at Stock
Exchange: |
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|
Date of Last
Annual Return: |
Subject was incorporated on 1989-3-14 with registered
number 23212759 as Joint Stock Company in Taiwan.
Change of Name
|
Former Name |
Felca
International Trading Company Ltd. |
|
Current Name |
Felca International Corp. |
|
Name |
Subscription Shares |
|
Shumei Dai |
4,750 |
|
Shuguang Zhang |
|
|
4,850 |
|
|
Han Zhang |
4,100 |
|
Lijuan Lin |
2,100 |
The information
above is that of subject’s major shareholders.
Related Companies
|
Name |
K-Flow
Engineering Co., Ltd. |
|
Address |
No.120-1, Niaosong 3rd St., Yongkang Dist., Tainan City 71042,
Taiwan, R.O.C. |
Office
|
Name |
Taoyuan Office |
|
Address |
3rd Floor, No.18 Nanping Street, Luzhu Township, Taoyuan
Country, Taiwan, R.O.C. |
Core
Management
Directors
|
1 |
|
|
Name |
Shumei Dai |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Shuguang Zhang |
|
Position |
Director |
|
3 |
|
|
Name |
Han Zhang |
|
Position |
Director |
|
4 |
|
|
Name |
Lijuan Lin |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 30 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.120-1, Niaosong 3rd St., Yongkang Dist., Tainan City
71042, Taiwan, R.O.C. |
Production
Information
l
Subject is engaged in design and manufacturing of industrial equipment and components, etc.
l
Subject has a factory (about 580 square meters) in
Tainan, Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CA02050 |
Manufacturing of valve |
|
CB01010 |
Manufacturing of mechanical equipment |
|
F401010 |
International trade business |
|
E599010 |
Piping engineering |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
|
EZ05010 |
Installation of apparatus and instrument |
l Subject purchases products from both home and abroad such as USA,
Germany, Italy, Japan, South Korea, India, UK, and Mainland China, etc.
l Some of subject’s purchase information is as followed for reference.
|
Product |
Brand |
Origin |
|
Safety Relief Valve |
LESER |
Germany |
|
Breather Valve |
KSPC |
South Korea |
|
Control Valve |
Mascot |
India |
|
Pressure
Reducing Valve |
LESER, KSPC |
Germany, South Korea |
|
Steam and Cold
Water Mixing Valve |
Dynafluid |
UK |
l Subject is engaged in sale of industrial equipment and components, etc.
l Subject is also the agents of many brands such as “LESER”, “KSPC”,
“Mascot”, and “Dynafluid”, etc.
l Subject’s sales region is major in Taiwan domestic market.
l The products sold by subject are applied to petrochemical industry, power
station, electronics factory, and food & beverage factory, etc.
l Subject’s major
customers are Formosa Plastics Group, China Petrochemical, China Steel
Corporation, and CTCI Corporation, etc.
Major products
|
Type |
Product |
|
Filters |
Auto-Self Cleaning Filter bag filter Filter Press Two Stages Filter Separators Cartridge Filters |
|
Heat Transfer Equipments |
Steam and Cold Water Mixing Valve Steam Injection Liquid Heater |
|
Instruments |
Limit switch Positive displacement flow meter |
|
Valve |
Safety Relief Valve Breather Valve Control Valve Pressure Reducing Valve Flame Arresters Excess Flow Valve Steam Traps Desuperheater Emergency Shut-Off Valve Automatic Recirculation Control Valves Emergency Vent Triple Off Set Butterfly Valve Forged Steel Valve Ball Valve Plug Valve, Teflon Lined Diaphragm Valve Motor Operated Valve Hydraulic Valve Change over Valve |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Industrial equipment and components |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Industrial equipment and components |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Industrial equipment and components |
Cash, T/T, etc |
100% |
Export
Subject has little export.
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. Huang declined to disclose its financials citing
the grounds of company’s confidentiality; from other source we can not obtain
the relevant information, either.
|
Name |
Land Bank of Taiwan |
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. Huang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
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 |
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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.