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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
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Name : |
UNITECH METALFORMING TECHNOLOGIES TAIWAN
CO., LTD. |
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Registered Office : |
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Country : |
Taiwan |
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Date of Incorporation : |
21.11.2011 |
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Com. Reg. No.: |
53556225 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and trade of metal-forming
machines and the related products |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Recently Commended Business Activities |
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Payment Behaviour : |
Slow but 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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. 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 1.8%,
due primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew
10.7%, as exports returned to the level of previous years, and in 2011, grew
4.1%. In 2012, however, growth fell to 1.3%, 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 except for the
landmark Economic Cooperation Framework Agreement (ECFA) signed with China in
June 2010, so far Taiwan has been excluded from this greater economic
integration in part because of its diplomatic status. Negotiations continue on
such follow-on components of ECFA regarding trade in goods and services. The MA
administration has said that the ECFA will serve as a stepping stone toward
trade pacts with other key trade partners, which Taiwan subsequently launched
with Singapore and New Zealand. 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 11.2% of the island's total population as of 2012. The island
runs a large trade surplus largely because of its surplus with China, and its
foreign reserves are the world's fifth largest, behind China, Japan, Saudi
Arabia, and Russia. In 2006 China overtook 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. In August 2012, Taiwan Central
Bank signed a memorandum of understanding on cross-Strait currency settlement
with its Chinese counterpart. The MOU allows for the direct settlement of
Chinese RMB and the New Taiwan dollar across the Strait, which could help
develop Taiwan into a local RMB hub. 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: |
Suite 5, |
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Telephone Number: |
+886-4 24619080 |
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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 declined to
disclose the staff number, and from other sources, we couldn’t obtain the
information, either.
Subject was incorporated on
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Subscription Shares |
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Meihui Li |
40,000 |
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Hejie Li |
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10,000 |
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DIAS, PETER GERARD |
100,000 |
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Rongchang Wu |
50,000 |
The information above is that of subject’s major shareholders.
Core
Management
Directors
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1 |
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|
Name |
Meihui Li |
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Position |
Board of
Chairman |
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2 |
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Name |
Hejie Li |
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Position |
Director |
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3 |
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Name |
DIAS, PETER
GERARD |
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Position |
Director |
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4 |
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Name |
Rongchang Wu |
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Position |
Supervisor |
Offices
& Factories
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|
Headquarters |
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Add |
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Production
Information
l
Subject is a manufacturer of metal-forming machines and the related
products without any production activities
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
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F113010 |
Wholesale of machine |
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F114030 |
Wholesale of motor components and the related
products |
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F213080 |
Wholesale of machine |
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F214030 |
Wholesale of motor components |
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F401010 |
International trade |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The components and raw material for
production are purchased from both local and abroad.
l
Subject is mainly engaged in
manufacturing and trading of metal-forming machines
and the related products.
l
Subject introduced some
products, such as Mechanical Press, Other Forming Machine Tools, Die Casting
Machine, Wire Working Machine, Molds and so on.
l
Subject introduced some
partner of it, such as Dahching Electric, Lee Bai Industry, Yin Shen Machinery
and so on.
l
Subject’s selling
territory mainly covers Asia, such as Hong Kong, Singapore and so on.
Import
and export right:
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Import right |
Yes |
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Export right |
Yes |
Subject
declined to disclose the purchase settlements information, and from other
sources, we couldn’t obtain the information, either.
Sales
Domestic
Markets
|
Sales Terms |
Proportion |
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Metal-forming
machines and the related products. |
COB, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
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Metal-forming
machines and the related products. |
L/C , T.T, etc. |
100% |
Notes: Subject’s settlement for export is generally in USD
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. Su 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 |
Mr. Su |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
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|
1 |
Rs.83.80 |
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Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.