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Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
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Name : |
GODSWILL PAPER MACHINERY CO., LTD. |
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Registered Office : |
No.88, Shenjhou N. Rd., Shengang Dist., Taichung City 429 |
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Country : |
Taiwan |
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Date of Incorporation : |
16.12.1998 |
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Com. Reg. No.: |
16714637 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of machinery, etc |
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No. of Employees : |
About 25 Employees |
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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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. In keeping with
this trend, some large, state-owned banks and industrial firms have been privatized.
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 1.9%, due primarily to a 20% year-on-year decline in exports. In
2010 GDP grew 10.9%, as exports returned to the level of previous years, and in
2011, grew 5.2%. However, 2012 growth will likely be less, according to most
forecasters, 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 so far Taiwan has been excluded from this greater economic
integration largely because of its diplomatic status with the exception of the
landmark Economic Cooperation Framework Agreement (ECFA) signed with China in
June 2010. The MA administration has said that the ECFA will serve as a
stepping stone toward trade pacts with other regional partners, and
negotiations on a deal with Singapore began this year. Follow-on components of
ECFA, including deals on trade in goods, services, and investment, have yet to
be completed. 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 10.9% of the
island's total population as of 2011. The island runs a large trade surplus,
and its foreign reserves are the world's fourth largest, behind China, Japan,
and Russia. Since 2005 China has overtaken 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. 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.88, Shenjhou N. Rd., Shengang Dist., Taichung City 429, Taiwan
(R.O.C.) |
|
Supplied Address: |
NO.88, SHENJHOU N. ROAD, SHENGANG DIST.,
TAICHUNG CITY 429, TAIWAN R.O.C |
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Telephone Number: |
+886-4-2526-8912 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Godswill Paper Machinery Co., Ltd. |
|
Registered Address: |
No.88, Shenjhou N. Rd., Shengang Dist., Taichung City 429, Taiwan
(R.O.C.) |
|
Date of Foundation: |
|
|
Registration Number: |
16714637 |
|
Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2013.03, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 30,000,00 (USD 102,000) |
|
Legal Representatives: |
Depeng Wu |
|
Legal Form: |
|
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Principal Activities: |
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|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on
|
Name |
Subscription Shares |
|
Depeng Wu |
2,000,000 |
The information above is that of subject’s
major shareholders.
|
1 |
|
|
Name |
Unlimited
Recycling Resources, LLC |
|
Address |
4195 Chino Hills
Parkway #472 Chino Hills CA 91709, USA |
|
Telephone Number |
+1-877-768-9218 |
|
Fax Number |
+1-626-608-2389 |
|
2 |
|
|
Name |
Whitham Mills
Engineering Ltd |
|
Address |
Stansfield Road,
Todmorden, Lancashire OL14 5DL, United Kingdom |
|
Telephone Number |
+0044-1706-811880 |
|
Fax Number |
+0044-1706-811881 |
|
3 |
|
|
Name |
Rowland &
Associates Pty Ltd |
|
Address |
5 Energy
Crescent, Ernest Qld 4214, Australia |
|
Telephone Number |
+61-7-5574-4588 |
|
Fax Number |
+61-7-5574-4611 |
|
4 |
|
|
Name |
Sasaki
Corporation |
|
Address |
1241-9
Awanomiya, Oyama City, Tochigi, Japan 329-0201 |
|
Telephone Number |
+81-285-45-8475 |
|
Fax Number |
+81-285-45-8910 |
Core Management
Directors
|
1 |
|
|
Name |
Depeng Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jiongwen Wu |
|
Position |
Director |
|
3 |
|
|
Name |
Zhuji Wu |
|
Position |
Director |
|
4 |
|
|
Name |
Yingmei Wang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 25 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.88, Shenjhou N. Rd., Shengang Dist., Taichung City 429, Taiwan
(R.O.C.) |
Production
Information
l
Subject is engaged in manufacturing of machinery,
etc.
l
Subject has a factory in Taiwan for production.
l
It is introduced that subject obtained the
certification of CE.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
|
F113010 |
Wholesale of machinery |
|
F113100 |
Wholesale of pollution-prevention equipment |
|
F213080 |
Retail of machinery |
|
J101080 |
Resources recycling industry |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The components for production are mostly purchased
in domestic market.
l Subject is engaged
in sales of machinery, etc.
l
The major products sold by subject include baling
press machine, box making machine, and pre feeder, etc.
l
Subject’s sales regions include Asia, Europe and
America, etc.
l
It is introduced that subject can sell products
through its foreign agents to overseas customer, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components |
COD, CBD, etc |
100% |
Foreign Purchase
Subject has little
export.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Machines, etc |
CBD, 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. Wu 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. Wu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.26 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.