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Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
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Name : |
WE-TECHNOLOGY AUTOMATION CO., LTD. |
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Registered Office : |
No.50, Hua Ya 1st Rd., Gueishan Hsiang, Taoyuan |
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Country : |
Taiwan |
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Date of Incorporation : |
14.05.1986 |
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Com. Reg. No.: |
22050165 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of industrial machinery. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
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.
|
Source : CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.50, Hua Ya
1st Rd., Gueishan Hsiang, Taoyuan, Taiwan, R.O.C. |
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Supplied Address: |
|
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Telephone Number: |
+886- 3-397-9588 |
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Fax Number: |
+886- 3-397-8768 |
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
We-Technology Automation Co., Ltd. |
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Registered Address: |
No.50, Hua Ya 1st Rd., Gueishan Hsiang,
Taoyuan, Taiwan, R.O.C. |
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Date of Foundation: |
1986-5-14 |
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Registration Number: |
22050165 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2013.6, 1 NTD = 0.0335 USD) |
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Paid-up Capital: |
NTD 45,000,000 (USD1,507,500) |
|
Legal Representatives: |
Jinlong Lin |
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Legal Form: |
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Principal Activities: |
|
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Notes: Subject declined to disclose its staff number;
from other source we cannot obtain the relevant information, either.
Subject was incorporated on 1986-5-14 with registered number 22050165 as Joint Stock Company in Taiwan.
|
Name |
Subscription
Shares |
|
Jinlong Lin |
2,100,000 |
|
Senfeng Huang |
|
|
1,125,000 |
|
|
Shuhui Wang |
150,000 |
|
Yongzhong Li |
337,500 |
The information above is that of subject’s major shareholders.
Factory
|
Name |
Dongguan Factory |
|
Address |
Building No.5, Tang Bian Village Zeng Bu Management Area, Cha Shan Town,
Dongguan City, Guangdong Province, China |
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Telephone Number |
+86-769-8185-9015 |
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Fax Number |
+86-769-8185-9017 |
Core
Management
|
1 |
|
|
Name |
Jinlong Lin |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Senfeng Huang |
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Position |
Director |
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3 |
|
|
Name |
Shuhui Wang |
|
Position |
Director |
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4 |
|
|
Name |
Yongzhong Li |
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Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.50, Hua Ya 1st Rd., Gueishan Hsiang,
Taoyuan, Taiwan, R.O.C. |
l
The subject
is a manufacturer of industrial machinery.
l
It is introduced that
subject has two factories in Taiwan and Dongguan City, Guangdong Province, the mainland
of China for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Designing, manufacturing, installing and
sales of industrial mechanical arm and automated machine. |
|
-- |
Importing and exporting of above related
business. |
|
-- |
Agent, bidding, marking price and sales of
above related products for domestic and overseas manufacturers. |
l
It is introduced that subject purchases components
and etc both at home and abroad.
l
The subject is mainly engaged in sales of industrial machinery.
l
It is introduced that
subject’s selling territory includes China. Southeast Asia, India, the United
Kingdom, Italy, North of Europe & Eastern Europe, Central and South America
Australia, South Africa, Turkey and etc.
l
It is introduced that
subject’s major customers are manufacturing industry of machine and equipment.
l
It is introduced that
subject’s products are applied to automated manufacturing and etc.
l
It is introduced that subject has about 20 offices
locating at the mainland of China, India and Southeast Asia, Europe, America,
and Australia.
Major Products and
Systems
|
|
Products and systems |
|
1 |
Injection Mate Robot |
|
2 |
IML System |
|
3 |
PET-Preform LD/Unload + Cooling System |
|
4 |
TFT-LCD LD/ULD System |
|
5 |
Downstream Automation |
|
6 |
Air Bearing Conveyor System |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Components
and etc |
COD,
CBD and etc |
100% |
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
Components
and etc |
CBD
and etc |
100% |
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Industrial machinery and etc. |
COD,
CBD and etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Industrial machinery and etc. |
CBD
and 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 Mr. 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 |
Mr. Lin |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
UK Pound |
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report Prepared by
: |
MNL |
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.