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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
HO CHIER ENTERPRISE CO., LTD. |
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Registered Office : |
1F., No.768, Jiahou Rd., Waipu Dist.,
Taichung City 438, Taiwan (R.O.C.) |
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Country : |
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Date of Incorporation : |
19.09.2002 |
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Com. Reg. No.: |
80255145 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and sale of machinery |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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 |
|
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.
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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.351, Dama Rd., Waipu Township, Taichung
County 438, Taiwan (R.O.C.) |
|
Supplied Address: |
nO. 768 cHIA hOU rD., tA tUNG tSUN wAIPU
hSIANG tAICHUNG hSIEN 438 Taiwan |
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Telephone Number: |
+886-4-2683-0612 |
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Fax Number: |
+886-4-2683-0237 |
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E-mail: |
Notes: The exact name and address are as above and the supplied address belongs
to subject’s registered address.
|
Credit Opinion: |
|
Registered Name: |
HO CHIER ENTERPRISE CO., LTD. |
|
Registered Address: |
1F., No.768, Jiahou Rd., Waipu Dist., Taichung City 438, Taiwan
(R.O.C.) |
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Date of Foundation: |
2002-9-19 |
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Registration Number: |
80255145 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
NTD 20,000,000 (USD
680,000) (As of 2013.06, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Fenjin Su |
|
Legal Form: |
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Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on
2002-9-19 with registered number 80255145 as Private
Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Fenjin Su |
20,000,000 |
The information
above is that of subject’s major shareholders.
Director
|
Name |
Fenjin Su |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 20 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.351, Dama Rd., Waipu Township, Taichung County 438, Taiwan (R.O.C.) |
Production
Information
l
Subject is engaged in manufacturing of
machinery, etc.
l
Subject has a factory in Taichung County, Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CA01050 |
Steel secondary processing |
|
CB01010 |
Manufacturing of machinery |
|
F113010 |
Wholesale of machinery |
|
F401010 |
International trade business |
|
I501010 |
Product design |
l
The components for production are
mostly purchased in Taiwan domestic market.
l
Subject is engaged in sale of
machinery, etc.
l
The major types of products sold by
subject include notching machine, tube-end forming machine, bender, swaging
machine, mobile part making machine, bicycle whole plant equipment, and special
purpose machine, tube preparation, assembling equipment, etc.
l
Subject’s sales regions include Taiwan,
Mainland China, and Other Asian countries, etc.
l
Subject’s products are applied to
manufacturing of bicycle, automobile, motorcycle, sport equipment, medical
equipment and kitchen ware, etc.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components |
Cash, T/T, etc |
100% |
Subject has little
export.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Machines |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machines |
L/C, T/T, 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. Ji 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. Ji |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.60.58 |
|
UK Pound |
1 |
Rs.92.91 |
|
Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.