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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
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Name : |
TING SIN METAL CO., LTD. |
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Formerly Known as: |
Rise Collect Biochemical Technology Co., Ltd. |
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Registered Office : |
14F.-3, No.218, Sec. 1, Wunsin Rd., Nantun District,
Taichung City 408 |
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Country : |
Taiwan |
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Date of Incorporation : |
25.12.2002 |
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Com. Reg. No.: |
80108968 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of aluminum alloy products, etc. |
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No. of Employees : |
About 90 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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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: |
14F.-3, No.218,
Sec. 1, Wunsin Rd., Nantun District, Taichung City 408, Taiwan (R.O.C.) |
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Supplied Address: |
F-3, NO 218, SEC
1, WUNSIN ROAD NANTUN DISTRICT TAICHUNG CITY 408 |
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Telephone Number: |
+886-4-2471-7189 |
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Fax Number: |
+886-4-2473-8736 |
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E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated on 2002-12-25 with registered number 80108968 as Joint Stock Company in Taiwan.
Change of Name
|
Former Name |
Rise Collect Biochemical Technology Co., Ltd. |
|
Current Name |
Ting Sin Metal Co., Ltd. |
Awards
|
Year |
Awards |
|
2009 |
Blue chip importer and exporter |
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2010 |
Blue chip importer and exporter |
|
2011 |
Blue chip importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
2011 |
22,000,000 |
|
Name |
Subscription Shares |
|
Fudao Wu |
1,308,265 |
|
Jingyi Lin |
|
|
5,031,114 |
|
|
Dexin Yan |
2,544,532 |
|
Xiuxiang Yan |
1,325,825 |
The information
above is that of subject’s major shareholders.
Factory
|
Address |
No.64, Sec. 1, Bao-An Rd., Rende Shiang, Tainan County 71745, Taiwan
(R.O.C.) |
|
Telephone Number |
+886-6-266-4126 |
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Fax Number |
+886-6-266-4983 |
Core
Management
|
1 |
|
|
Name |
Fudao Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jingyi Lin |
|
Position |
Director |
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3 |
|
|
Name |
Dexin Yan |
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Position |
Director |
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4 |
|
|
Name |
Xiuxiang Yan |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 90 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
14F.-3, No.218, Sec. 1, Wunsin Rd., Nantun District,
Taichung City 408, Taiwan (R.O.C.) |
l Subject is engaged
in manufacturing of aluminum alloy
products, etc.
l Subject has a factory in Tainan County, Taiwan for production.
l Subject has obtained the certification of ISO 9001.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CA01080 |
Aluminium industry |
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CA01090 |
Aluminum casting industry |
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CA01100 |
Aluminum rolling, wire drawing, extruding
industry |
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CA01990 |
Other non-ferrous metal industry |
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F114010 |
Wholesale of automobile |
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F214010 |
Retail of automobile |
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F401010 |
International trade business |
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F114030 |
Wholesale of automobile and motor parts |
|
F214030 |
Retail of automobile and motor parts |
|
F102040 |
Wholesale of beverage |
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F213080 |
Retail of machinery |
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F113010 |
Wholesale of machinery |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The raw materials for production are mostly purchased
in domestic market.
l
It is introduced that some facilities for
production are purchased from both home and abroad and the details are as
follows for reference.
|
Facility |
No. |
Brand |
Origin |
|
Melting House |
10 |
MORGAN |
UK |
|
Furnaces |
10 |
HAUCK |
USA |
|
Casting Machine |
6 |
WAGSTAFF |
USA |
|
Homogeneous Furnace |
2 |
ROZAI |
Japan |
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Degassing & Filtration |
1 |
ROZAI |
Japan |
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Homogeneous Furnace |
1 |
BATCH |
Japan |
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Spectrometer |
2 |
SPECTRO |
Germany |
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Rockwell Hardness |
2 |
-- |
Taiwan, China |
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Ultrasonic QA Inspection |
2 |
-- |
Taiwan, China |
|
Microscopic Inspection |
2 |
-- |
Taiwan, China |
l Subject is engaged
in sales of aluminum alloy products,
etc.
l Subject’s sales regions include Asia, Europe and America, etc.
l The products sold by subject are applied to screws, bolts, aircraft body,
truck framework, door, window frames, and furniture, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials |
COD,
CBD, etc |
100% |
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Aluminum alloy products |
COD,
CBD, etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Aluminum alloy products |
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 Ms. Huang 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 |
Ms. Huang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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 |
|
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.