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Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASIAN PLASTIC MACHINERY CO., LTD. |
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|
|
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Registered Office : |
No.1-1, Sung Chiang N. Rd., Industry Park, Chung-Li
City, Taoyuan |
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|
|
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Country : |
Taiwan |
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|
|
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Date of Incorporation : |
28.12.1987 |
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|
|
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Com. Reg. No.: |
22663360 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of machinery. |
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No. of Employees : |
About 400 Employees |
RATING & COMMENTS
|
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 |
|
Payment Behaviour : |
No Complaints |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.1-1, Sung
Chiang N. Rd., Industry Park, Chung-Li City, Taoyuan, Taiwan |
|
Supplied Address: |
1 Sung Chiang
North Road, Chung Li Industrial District Chung Li, Taoyuan Taiwan |
|
Telephone Number: |
|
|
Fax Number: |
+886-3-452-0261 |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1987-12-28 with registered number 22663360
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
British Virgin Islands Shangyi Wei Le Gao Company (Literal Translation) |
5,000,000 |
The information above is that of subject’s major shareholders.
Parent Company
|
Name |
British Virgin Islands Shangyi Wei Le Gao Company (Literal
Translation) |
Major Sale offices:
|
1 |
|
|
Name |
Kunshan Office |
|
Address: |
Block B, 5/F., Zhongda Commercial Plaza, No. 1233, Kunshan, Jiangsu,
China |
|
Tel: |
+86-512-5730-6792 |
|
|
|
|
Name |
Qingdao Office |
|
Address: |
Middle Section of Jing No.2 Road, Beiguan Industrial Park, Jiaozhou,
Qingdao, Shandong, China |
|
Tel: |
+86-13553057050 |
Note: It is introduced that subject has related
companies and offices in other regions in the mainland of China, but the
subject declined to disclose detailed information for us and we cannot get any information
from any valid sources.
Core Management
Directors
|
1 |
|
|
Name |
Zhenyuan Jiang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Liyuan Jiang |
|
Position |
Director |
|
3 |
|
|
Name |
Hanhua Wu |
|
Position |
Director |
|
4 |
|
|
Name |
Taixiong Xie |
|
Position |
Supervisor |
|
Total Employees |
About 400 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.1-1, Sung Chiang N. Rd., Industry Park, Chung-Li City, Taoyuan,
Taiwan |
Production
Information
The subject is a manufacturer of machinery and etc.
It is introduced that subject has a factory in Taiwan for production.
It is introduced that subject has obtained ISO 9001:2000, ISO 14001:2004
and etc certifications.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacture and sales of Numerical control injection plastic molding
machines |
|
2 |
General import and export trading business and department stores
selling business. |
|
3 |
Bidding, price quoting and sales business for domestic and overseas
customers except futures |
It is introduced that subject purchases components and etc both in domestic
and overseas markets.
It is introduced that subject also imports technologies and etc from
Japan, USA, Germany and etc.
The subject is mainly engaged in sales of
machinery and etc.
It is introduced that subject’s selling territory covers all over the
world.
It is introduced that subject’s major customers are manufacturers of
plastic products and etc.
It is introduced that subject’s products are applied to packaging
industry and etc.
It is introduced that subject has its own brand called “Zhen Xiong”
(Literal Translation).
Major products sold
|
1 |
Plastic extruding machines |
|
2 |
Injection molding machine auxiliary equipments |
|
3 |
Feeding renewable crushers |
|
4 |
Plastic molding machines |
|
5 |
Plastic granulators |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components and
etc |
COD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Components and
etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Product |
Sales Terms |
Proportion |
|
30%prepayment,
70% before delivery, etc |
100% |
Export
|
Product |
Sales Terms |
Proportion |
|
30%prepayment,
70% before delivery, 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. Wu
declined to disclose its financials citing the grounds of company’s
confidentiality; from other source we can not obtain the relevant information,
either.
|
Name |
Taiwan Cooperative Bank |
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. Wu |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
|
|
1 |
Rs.91.15 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.