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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
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Name : |
TOPTEK ELECTRONICS CORPORATION |
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Registered Office : |
2F, No.1, Tzu-Chiang 6 Rd., Chung-Li City, Taoyuan Hsien |
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Country : |
Taiwan |
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Date of Incorporation : |
08.07.2001 |
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Com. Reg. No.: |
12848987 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of electronic products, etc |
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No. of Employees : |
About 100 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 : |
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
|
Country Name |
Previous Rating (31.03.2011) |
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: |
No.1, Tzu-Chiang 6 Rd., Chung-Li City,
Taoyuan Hsien, Taiwan, R.O.C. |
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Supplied Address: |
NO. 1, TZU-CHIANG 6 RD, CHUNG-LI CITY,
TAOYUAN COUNTY, TAIWAN |
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Telephone Number: |
+886-3-462-9199 |
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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: |
Subject was incorporated on 2001-8-7 with
registered number 12848987 as Joint
Stock Company in Taiwan.
|
Name |
Toptek Electronics (Fujian) Co., Ltd. |
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Address |
Rm.304, 52 Guanri Rd., Phase 2, Software Park, Siming,
Xiamen City, Fujian Province, China |
|
Tel |
+86-592-630-0306 |
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Name |
Subscription Shares |
|
Hongju Li |
3,420,000 |
|
Baozhu Chen |
300,000 |
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Donghai Gao |
200,000 |
|
Guiying Deng |
150,000 |
The information above
is that of subject’s major shareholders.
Core
Management
|
1 |
|
|
Name |
Hongju Li |
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Position |
Board Chairman |
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2 |
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Name |
Baozhu Chen |
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Position |
Director |
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3 |
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Name |
Donghai Gao |
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Position |
Director |
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4 |
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|
Name |
Guiying Deng |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 100 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
2F, No.1, Tzu-Chiang 6 Rd., Chung-Li City, Taoyuan Hsien, Taiwan,
R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of electronic
products, etc.
l
Subject has factories in Fujian Province, China and
Taoyuan County, Taiwan for production.
l
Subject obtained the certifications of UL, CE, FDA,
FCC, and ISO 9001.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CC01010 |
Electric power generation, transmission,
distribution machinery manufacturing |
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CD01050 |
Bicycle and related spare parts manufacturing |
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CB01010 |
Machinery
equipment manufacturing |
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CB01020 |
Office
machinery manufacturing |
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CB01990 |
Other
machinery manufacturing |
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CC01020 |
Electric
wire and cable manufacturing |
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CC01030 |
Electric appliance
and audio-visual electronic products manufacturing |
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CC01040 |
Lighting
equipment manufacturing |
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CC01060 |
Wire
communication equipment manufacturing |
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CC01070 |
Wireless
communication equipment manufacturing |
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CC01080 |
Electrical
spare parts and components manufacturing |
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CC01090 |
Battery
manufacturing |
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CC01110 |
Computer
and related equipment manufacturing |
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CC01120 |
Data
storage media manufacturing and duplicating |
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CC01990 |
Other motorcycle
and related electric machinery equipment manufacturing |
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CD01010 |
Ship and
related spare parts manufacturing |
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CE01010 |
Normal
instrument apparatus manufacturing |
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F213010 |
Electrical appliance retail |
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F114020 |
Motorcycle
wholesale |
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F114030 |
Automobile and Motorcycle spare parts wholesale |
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F114040 |
Bicycle
and related spare parts wholesale |
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F214030 |
Automobile and Motorcycle spare parts retail |
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F214040 |
Bicycle and
related spare parts wholesale retail |
|
F401010 |
International Trade |
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ZZ99999 |
Besides
licensed business, all other business items those are not banned or
restricted. |
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E502010 |
Fuel and
vessel installation engineering |
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E601010 |
Pipe Setting |
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E603010 |
Electric
cable installation |
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E603020 |
Elevator
installation |
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E603040 |
Fire
Fighting Equipments installation |
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E603050 |
Auto-control equipment engineering |
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E603080 |
Traffic
sign installation engineering |
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E603090 |
Lighting
equipment installation engineering |
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E604010 |
Machinery
installation |
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E701020 |
SATV
Channel KU and Ｃapparatus
installation |
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E701040 |
Simple
telecommunication installation |
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EZ05010 |
instrument apparatus installation |
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F106010 |
Hardware
wholesale |
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F106040 |
Water
vessel materials wholesale |
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F113010 |
Machinery
wholesale |
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F113020 |
Electric
appliance wholesale |
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F113030 |
Precision
instrument wholesale |
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F113050 |
Computer and
office machine equipment wholesale |
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F113070 |
Telecommunication equipment wholesale |
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F118010 |
Information software wholesale |
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F119010 |
Electrical material wholesale |
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F120010 |
Fireproofing wholesale |
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F206010 |
Hardware retail |
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F213040 |
Precision instrument apparatus retail |
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F213050 |
Instruments of measuring retail |
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F213060 |
Telecommunication equipment retail |
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F213080 |
Machinery appliance retail |
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F213990 |
Other machinery appliance retail |
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F219010 |
Electrical material retail |
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H201010 |
Common investment |
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H202010 |
Undertaking investment |
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H701020 |
Industry workshop developing and renting |
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I301010 |
Software Information service |
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I301020 |
Data processing service |
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I301030 |
Electrical information supply |
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IG03010 |
Energy technology service |
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J399010 |
Software publishing |
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E605010 |
Computer equipment installation |
l
The components for production are mostly purchased
in domestic market.
l Subject is engaged in sales of electronic products, etc.
l The major products
sold by subject include AC motor drive, Input AC reactor, input EMI filter,
DC-link choke, dynamic braking unit & resistor, output AC reactor, output
sine wave filter, and programming operator unit, etc.
l Subject’s sales regions include Asia, Europe and America, etc.
l It is introduced that subject has their own brand “Toptek”.
l Subject’s major customers are textile manufacturer, chemical
manufacturer, paper manufacturer and food manufacturer, etc.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Settlements
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components, etc |
COD, CBD, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Electronic
products |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Electronic
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 declined to disclose its financials citing the
grounds of company’s confidentiality; from other source we can not 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. Jiang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.