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Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
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Name : |
PRO-AIR ENGINEERING CO., LTD. |
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Registered Office : |
9F.-2, No.660, Dayou Rd., Taoyuan City, Taoyuan County 33052 |
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Country : |
Taiwan |
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Date of Incorporation : |
19.01.1990 |
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Com. Reg. No.: |
23553377 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of mechanical equipment, etc |
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No. of Employees : |
About 30 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
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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.
Source
: CIA
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Company Name: |
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Supplied Name: |
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Trading Address: |
9F.-2, No.660, Dayou Rd., Taoyuan City,
Taoyuan County 33052, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-3-356-6780 |
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Fax Number: |
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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: |
Pro-Air Engineering Co., Ltd. |
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Registered Address: |
9F.-2, No.660, Dayou Rd., Taoyuan City, Taoyuan County 33052, Taiwan
(R.O.C.) |
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Date of Foundation: |
1990-1-19 |
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Registration Number: |
23553377 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
NTD 10,000,000 (USD
340,000) (As of 2013.06, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 10,000,000 (USD 340,000) |
|
Legal Representatives: |
Yahan Cui |
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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: |
Subject was incorporated on 1990-1-19 with registered
number 23553377 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Yahan Cui |
3,000 |
|
Yaqing Cui |
|
|
2,000 |
The information
above is that of subject’s major shareholders.
|
1 |
|
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Name |
Lujhu Township |
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Address |
No.456, Sec 2, Nankan
Road, Lujhu Township, Taoyuan County, Taiwan |
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Telephone Number |
+886-3-212-2080 |
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Fax Number |
+886-3-212-2090 |
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2 |
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Name |
Shanghai Office |
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Address |
Unit E, 20th
Floor, No.985, Dongfang Road, Pudong, Shanghai City, China |
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Telephone Number |
+86-21-6764-4501 |
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Fax Number |
+86-21-6764-4504 |
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3 |
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Name |
Beijing Office |
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Address |
Room 1015, No.1
Building, No.26, Yuetan South Street, Xicheng District, Beijing City, China |
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Telephone Number |
+86-10-6851-0475 |
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Fax Number |
+86-10-6851-0476 |
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4 |
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Name |
Xiamen Office |
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Address |
Room 2204, Bldg
9, No.170, Tapu East Road, Siming District, Xiamen City, Fujian Province,
China |
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Telephone Number |
+86-592-532-6350 |
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Fax Number |
+86-592-532-6353 |
Core
Management
Directors
|
1 |
|
|
Name |
Yahan Cui |
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Position |
Board Chairman |
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2 |
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Name |
Yaqing Cui |
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Position |
Director |
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3 |
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|
Name |
Hongwei Cui |
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Position |
Director |
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4 |
|
|
Name |
Zhigang Cui |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 30 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
9F.-2, No.660, Dayou Rd., Taoyuan City, Taoyuan County 33052, Taiwan
(R.O.C.) |
Production
Information
l
Subject is a trader of mechanical equipment, etc
without any production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of mechanical equipment |
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CB01990 |
Manufacturing of other machinery |
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F113010 |
Wholesale of machinery |
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F106010 |
Wholesale of hardware |
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F104110 |
Wholesale of textile, garment, shoes, hat,
umbrella, and garment accessories |
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E599010 |
Piping engineering industry |
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F401010 |
International trade business |
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ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted |
l
Subject purchases products mainly from abroad such
as Germany, USA and Italy, etc.
l Subject is engaged
in sale of mechanical equipment, etc.
l
Subject also provides installation, maintenance and
repair services.
l
The major products sold by subject include air
compressor, adsorption dryer, air filtration equipment, air measuring
instrument, and auto-drainer, etc.
l
Subject’s sales regions include Taiwan and Mainland
China.
l
The major brands sold by subject include “IR”
(USA), “Ever Air” (Germany), “KSI” (Germany), ProAir
(Germany) and “SCB” (Italy), etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little
domestic purchase.
Foreign Purchase
|
Terms |
Proportion |
|
|
Mechanical
equipment |
L/C, T/T, etc |
100% |
Sales
Domestic Markets (Taiwan
and Mainland China)
|
Terms |
Proportion |
|
|
Mechanical
equipment |
Cash, T/T, etc |
100% |
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. Lv 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
|
1 |
|
|
2004, Taojian, 131 |
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Date of Trial: |
2004-3-22 |
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Reason: |
Payment for goods |
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2 |
|
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Trial Number: |
2003, Taobu, 661 |
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Date of Trial: |
2003-12-31 |
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Reason: |
Payment for goods |
|
Name |
Ms. Lv |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.