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Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AEROVISION AVIONICS, INC. |
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Formerly Known as: |
AERO VISION AVIONICS, INC. |
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Registered Office : |
2f, 30, R
& D Rd. Ii, Science-Based Industrial Park, Hsinchu |
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Country : |
Taiwan |
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Date of Incorporation : |
18.02.1997 |
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Com. Reg. No.: |
97324075 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Design, manufacture and trade of avionics and in-flight
entertainment and the related products. |
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No. of Employees : |
About 70 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 : |
Regular |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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. 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: |
2f, 30, R & D
Rd. Ii, Science-Based Industrial Park, Hsinchu, Taiwan, R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-3-5643912 |
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Fax Number: |
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E-mail: |
Notes:
The supplied address is incomplete, and the exact address is as above.
Subject was incorporated on 1997-2-18 with registered number 97324075 as Joint Stock Company in Taiwan.
Change of Name
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Former English Name |
AERO VISION AVIONICS, INC. |
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Current English Name |
AEROVISION AVIONICS, INC. |
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Subscription Number |
|
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Shiren Investment Co., Ltd (Translated) |
2,169,600 |
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Lixin Investment Co., Ltd (Translated) |
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3,080,100 |
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Zhixiang Investment Co., Ltd (Translated) |
115,000 |
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Lili Co., Ltd (Translated) |
276,000 |
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Development Fund, Executive Yuan |
5,630,400 |
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Development Fund, Technology, Executive
Yuan |
2,525,400 |
|
Aerospace Industrial Development Corp |
4,968,000 |
|
Zhili Investment Co., Ltd (Translated) |
1,214,000 |
|
Shicheng Co., Ltd (Translated) |
621,000 |
|
Collins Co., Ltd (Translated) |
1,656,000 |
The information above is that of subject’s major shareholders.
Core
Management
|
1 |
|
|
Name |
Chongren Huang |
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Position |
Board of Chairman |
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2 |
|
|
Name |
Rongsheng Lin |
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Position |
Director |
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3 |
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Name |
Zhixian Hong |
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Position |
Director |
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4 |
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Name |
Shudong Lu |
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Position |
Director |
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5 |
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Name |
Mingda Huang |
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Position |
Director |
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6 |
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Name |
Chonghe Huang |
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Position |
Director |
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7 |
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Name |
Shixian Chen |
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Position |
Director |
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8 |
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Name |
Wenzhong Hu |
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Position |
Director |
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9 |
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Name |
Yongzhuang Wang |
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Position |
Director |
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10 |
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Name |
Yimin Chen |
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Position |
Director |
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11 |
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Name |
Xiuyan Huang |
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Position |
Director |
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12 |
|
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Name |
Wenren Luo |
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Position |
Supervisor |
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13 |
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Name |
Yinghua Luo |
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Position |
Supervisor |
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14 |
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Name |
Beirong Zhang |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 70
Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
2f, 30, R & D Rd. Ii, Science-Based Industrial
Park, Hsinchu, Taiwan, R.O.C. |
Production
Information
l
Subject is a manufacturer of avionics and in-flight entertainment and the related products
with the production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CC01080 |
Manufacture of electronic components |
|
CC01060 |
Manufacture of wire communication
equipment |
|
F401010 |
International trade |
l
The components and raw material for production are
mostly purchased from abroad.
l Subject is mainly
engaged in designing, manufacturing and trading of avionics and in-flight entertainment and the related products.
l
Subject introduced that its Major products
sold as following:
|
|
Product |
|
1 |
Bus Seatback Entertainment System |
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2 |
Train Entertainment System |
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3 |
Smart TV Set-top Box |
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4 |
Others |
l Subject introduced
that the products are mainly designed by itself.
l
Subject’s selling territory covers both local and
overseas markets.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Subject declined to disclose the settlements information, and from other sources, we couldn’t obtain the information, either.
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. Wang declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
The bankers’ information is not available from the subject or other
sources.
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. Wang |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
UK Pound |
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.