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Report Date : |
23.03.2013 |
IDENTIFICATION DETAILS
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Name : |
JON WAI MACHINERY WORKS CO., LTD. |
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Registered Office : |
No.5, Taying, Taying Village, Hsinshih Dist., Tainan Cityn |
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Country : |
Taiwan |
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Date of Incorporation : |
13.01.1982 |
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Com. Reg. No.: |
69706191 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of plastic injection machines and etc. |
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No. of Employees : |
About 150 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 : |
Usually Correct |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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: |
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Supplied Address: |
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Telephone Number: |
+886-2-2595-4867 |
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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: |
Jon Wai Machinery Works Co., Ltd. |
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Registered Address: |
No.5, Taying, Taying Village, Hsinshih Dist., Tainan Cityn, Taiwan
(R.O.C.) |
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Date of Foundation: |
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Registration Number: |
69706191 |
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Registry: |
Tainan City Government |
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Registered Capital: |
NTD 300,000,000 (USD 10,110,000) (As of 2013.3, 1 NTD = 0.0337 USD) |
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Paid-up Capital: |
NTD 300,000,000 (USD 10,110,000) |
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Legal Representatives: |
Xuteng Pan |
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Legal Form: |
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Principal Activities: |
Manufacturing and sales
of plastic injection machines and etc. |
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Staff: |
About 260
employees (Group staff including about 110 employees in Kunshan Factory) |
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Listed at Stock
Exchange: |
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Date of Last
Annual Return: |
Subject was incorporated on 1982-1-13 with
registered number 69706191 as Joint Stock Company in Taiwan.
Awards
|
Year |
Awards |
|
2010 |
Blue chip
importer and exporter |
Standard of Blue
chip importer and exporter
Unit:
USD
|
Year |
Amount |
|
2010 |
20,000,000 |
|
Name |
Subscription Shares |
|
1,705,200 |
|
|
Bizhu Panye |
755,990 |
|
Suqing Panzheng |
135,230 |
|
Dalong Zheng |
947,960 |
|
Lingling Pan |
1,117,325 |
The information above
is that of subject’s major shareholders.
|
1 |
|
|
Name |
Tainan Factory |
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Address |
No.5, Taying,
Taying Village, Hsinshih Dist., Tainan Cityn, Taiwan (R.O.C.) |
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Tel: |
+886-6-5999321
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Fax: |
+886-6-5999153 |
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E-mail: |
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2 |
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Name |
Kunshan Factory |
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Address |
No. 568,
Huangpujiang North Road, Zhoushi Town, Kunshan City,
Jiangsu Province, China |
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Tel: |
+86-512-5766-6123
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Fax: |
+86-512-5793-2889 |
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E-mail: |
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Core
Management
Directors
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1 |
|
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Name |
Xuteng Pan |
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Position |
Board Chairman |
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2 |
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Name |
Bizhu Panye |
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Position |
Director |
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3 |
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Name |
Suqing Panzheng |
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Position |
Director |
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4 |
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Name |
Dalong Zheng |
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Position |
Director |
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5 |
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Name |
Lingling Pan |
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Position |
Supervisor |
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Total Employees |
About 150
employees (Taiwan) About 260
employees (Group staff including about 110 employees in Kunshan Factory) |
Offices
& Factories
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|
Headquarters |
|
Add |
Production
Information
l
Subject is a manufacturer of plastic
injection machines and etc.
l
It is introduced that subject has two factories in
Tainan city, Taiwan and Kunshan city, Jiangsu province, China for production.
l
It is introduced that subject has obtained ISO-9001
and CE certifications.
l
It is introduced that the annual production of
subject’s Taiwan factory is about 700 sets of plastic injection molding machine
and annual production of subject’s Kunshan factory is about 250 sets.
Purchase
Information
l
The registered activities of subject:
|
-- |
Manufacture, processing and sales of plastic
injection molding machine, extruder, hydraulic press and all kinds of
Mechanical injection machines, etc |
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-- |
Manufacture, processing and sales of all kinds of
machine element; |
|
-- |
Relevant import and export business of the above
mentioned items |
l
It is introduced that subject purchases raw
materials, components and etc both in domestic and overseas market.
l The subject is
engaged in sales of plastic injection machines and etc.
l
It is introduced that’s subject’s selling territory
includes Asia, Europe, North America and etc.
l
It is introduced that 80 percents of subject’s
products are exported to the overseas market.
l
It is introduced that subject’s major customers are
manufacturers of automobile, home
appliance, office equipment, computer, cell phone and digital products such as Dongyang,
Foxconn, Skyworth and Royalstar, etc
l
It is introduced that subject also provides OEM
services.
Major products
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1 |
Toggle clamping system machine |
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2 |
Precision machine |
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3 |
Thin wall and High-speed/ precision machine |
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4 |
PET Preform machine |
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5 |
Thermo-setting Plastic and two colors machine |
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6 |
Two colors machine |
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7 |
Powder P.V.C. machine |
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8 |
Plunger-type PET Preform machine |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
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Raw materials
and components, etc |
COD,CBD and etc. |
Foreign Purchase
|
Payment Terms |
Proportion |
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Raw materials
and components, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
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Injection
machines, etc |
CBD and etc. |
100% |
Export
|
Sales Terms |
Proportion |
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Injection
machines, 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. Wang declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
|
Name |
Taiwan Bank |
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
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Trial Number |
2002, Nanjian, 608 |
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Trial Date |
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Reason |
Returning the possessions |
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Name |
Mr. Wang |
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Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
|
1 |
Rs.82.56 |
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Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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.