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Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
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Name : |
PROTECTOR SAFETY IND. CO. |
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Formerly Known As : |
PROTECTOR SPRINKLER IND. CO., LTD. |
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Registered Office : |
No.3, Alley 16, Lane 228, Sec. 2, Nankan
Rd., Lujhu Township, Taoyuan County 338, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
10.11.1997 |
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Com. Reg. No.: |
16176481 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of fire protection
equipment and the related products. |
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No. of Employees : |
About 30 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Moderate |
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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 |
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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. 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.
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Source : CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.3, Alley 16, Lane 228, Sec. 2, Nankan
Rd., Lujhu Township, Taoyuan County 338, Taiwan (R.O.C.) |
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Supplied Address: |
NO 3 ALLEY 16 LANE 228SEC 2 JANKAN RD LUJHU
TOWNSHIP TAOYUAN COUNTY 338TAIWAN R O C Taiwan |
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Telephone Number: |
+886-3-3129308 |
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Fax Number: |
+886-3-3217956 |
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E-mail: |
Notes:
The supplied name is the former name of subject, and the exact name is as
above.
The exact address is as above.
|
Credit Opinion: |
Subject was incorporated on
Change
of Name
|
Former
English Name |
PROTECTOR
SPRINKLER IND. CO., LTD. |
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Current
English Name |
PROTECTOR SAFETY IND. CO. |
|
Name |
Subscription Shares |
|
Xiuying Jian |
146,000 |
|
Guozhen Huang |
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|
644,000 |
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|
Shuqiong Yang |
108,000 |
The information
above is that of subject’s major shareholders.
Core
Management
Directors
|
1 |
|
|
Name |
Xiuying Jian |
|
Position |
Chairman |
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2 |
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Name |
Guozhen Huang |
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Position |
Director |
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3 |
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|
Name |
Shuqiong Yang |
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Position |
Director |
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4 |
|
|
Name |
Chongzhi Jian |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 30 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.3, Alley 16, Lane 228, Sec. 2, Nankan Rd., Lujhu Township, Taoyuan County
338, Taiwan (R.O.C.) |
Production
Information
l
Subject is a manufacturer of fire protection equipment and the related products with
the production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
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Design, manufacture and sales of automatic fire
extinguishing equipment, automatic watering equipment, fire hydrant
equipment, valve and hose nippler, etc |
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Assembly design, installation and sales of automatic
fire alarms, automatic fire extinguisher, automatic watering equipment,
lighting fixture and loud-speaker, etc |
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F117010 |
Wholesale of fire control safety equipment |
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F217010 |
Retail of fire control safety equipment |
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CB01990 |
Manufacture of other machinery (fire control
safety equipment ) |
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CC01040 |
Manufacture of lighting fixture |
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CR01010 |
Manufacture
of gas equipment and component |
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-- |
Trade of building materials |
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-- |
Design, installation, trade and maintenance of
fire control safety system equipment |
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-- |
Construction of fire control safety system
equipment (except the construction industry) |
|
-- |
Construction of upholstery design (except the construction
industry) (except construction interior decoration) (except architect) |
l
The components and raw material for
production are mostly purchased from Taiwan, America and Germany, etc
l Subject is engaged in manufacturing and trading of fire protection
equipment and the related products
l Subject introduced that its Major
products sold as following:
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|
Product |
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1 |
Concealed Sprinkler |
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2 |
Conventional Sprinkler |
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3 |
Fire Hose |
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4 |
Flush Pendent Sprinkler |
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5 |
Pendent Sprinkler |
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6 |
Recessed Pendent Sprinkler |
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7 |
Sidewall Sprinkler |
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8 |
Slowly Descending Devices |
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9 |
Upright Sprinkler |
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10 |
Valve |
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11 |
Others |
l Subject introduced that it has obtained the ISO 9001 certification.
l Subject’s sale regions include North America, South America, Europe,
Asia, Africa, Oceania, etc.
Import
and export right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase (Taiwan)
|
Payment Terms |
Proportion |
|
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Components and raw material |
COD, CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
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Components and raw material |
CBD, etc |
100% |
Sales
Domestic Markets (Taiwan)
|
Sales Terms |
Proportion |
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Fire protection equipment, etc |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
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|
Fire protection equipment, etc |
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. Lin 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. Lin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.58.41 |
|
UK Pound |
1 |
Rs.91.62 |
|
Euro |
1 |
Rs.78.11 |
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 |
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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 |
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<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.