MIRA INFORM REPORT
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Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
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Name : |
Sinpro Electronics
Co., Ltd. |
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Formerly Known as: |
Sinpro Electronic Co., Ltd. |
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Registered Office : |
No.5, Yuan West St., Pingtung City, Pingtung County |
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Country : |
Taiwan |
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Date of Incorporation : |
10.07.1995 |
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Com. Reg. No.: |
89582325 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of switching power supply, etc. |
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No. of Employees : |
About 250 Employees (Taiwan) |
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 : |
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 – 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.
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Source : CIA |
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Company Name: |
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Former Name: |
Sinpro Electronic Co., Ltd. |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
18F, No. 80,
minzu 1st Rd., sanmin District 807 Kaohsiung, Kaohsiung Shih Taiwan |
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Telephone Number: |
+886-7-396-6100 |
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Fax Number: |
+886-7-396-6106 |
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E-mail: |
Notes: The exact name and address are as above.
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Registered Name: |
Sinpro Electronics Co., Ltd. |
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Registered Address: |
No.5, Yuan West St., Pingtung City, Pingtung
County, Taiwan, R.O.C. |
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Date of Foundation: |
1995-7-10 |
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Registration Number: |
89582325 |
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Registry: |
Export Processing Zone Administration, MOEA |
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Registered Capital: |
NTD 300,000,000
(USD 10,200,000) (As of 2013.05, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 263,412,620 (USD 8,956,029) |
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Legal Representatives: |
Zhenxiong Qiu |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated on 1995-7-10 with registered number 89582325 as Joint Stock Company in Taiwan.
Change of Name
|
Former Name |
Sinpro Electronic Co., Ltd. |
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Current Name |
Sinpro Electronics Co., Ltd. |
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Name |
Subscription Shares |
|
Zhenxiong Qiu |
3,649,653 |
|
Zhiming Chen |
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|
984,541 |
|
|
Baoyin Chen |
624,199 |
|
Zhenzhong Fang |
679,829 |
|
Yizhou Huang |
186,024 |
|
Guoping Qiu |
475,850 |
The information above is that of subject’s major shareholders.
Branch Company
|
Name |
Kaohsiung Branch |
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Registration Number |
80748612 |
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Date of Registration |
2004-4-7 |
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Status |
Live Company |
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Manager Name |
Zhenxiong Qiu |
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Date of Last Annual Return |
2006-8-1 |
Factories
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1 |
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Name |
Pingtung Factory |
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Address |
No.5, Yuan West St., Pingtung City, Pingtung
County, Taiwan, R.O.C. |
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Telephone Number |
+886-8-7550116 |
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2 |
|
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Name |
Shenzhen Factory |
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Address |
Floor 1-3, No.1 Workshop Building,
Shengzuozhi Sci.&Tech. Industry Park, Xinyu North Rd., Shajing
Subdistrict, Bao'an District, Shenzhen City, Guangdong Province, China |
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Telephone Number |
+86-755-2305-4785 |
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Fax Number |
+86-755-2792-1674 |
Core
Management
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1 |
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Name |
Zhenxiong Qiu |
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Position |
Board Chairman |
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2 |
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Name |
Zhiming Chen |
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Position |
Director |
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Date of Appointment |
1999-6-7 |
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3 |
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Name |
Baoyin Chen |
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Position |
Director |
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Date of Appointment |
1999-6-7 |
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4 |
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Name |
Zhenzhong Fang |
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Position |
Director |
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5 |
|
|
Name |
Yizhou Huang |
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Position |
Director |
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6 |
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Name |
Guoping Qiu |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 250 Employees (Taiwan) |
Offices
& Factories
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|
Headquarters |
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Add |
18/F, No.80, Minzu 1st Road, Nanzi Export Processing Zone, Sanmin District,
Kaohsiung
City, Taiwan, R.O.C. |
l
Subject is engaged in manufacturing of switching
power supply, etc.
l
Subject has factories in Pingtung County, Taiwan
and Shenzhen City, China for production and the details information are as
followed for reference.
|
Name |
Area |
Monthly Production Capacity |
|
Pingtung Factory |
About 10,250 square meter |
About 300,000 pieces |
|
Shenzhen Factory |
About 10,600 square meter |
About 500,000 pieces |
l
It is introduced that the minimum order quantity of
Shenzhen factory is 5,000 pieces.
l
It is introduced that subject can provide OEM and
ODM services.
l
Subject obtained the certifications of ISO
9001:2008 and ISO 14001:2004.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and trading of transformer,
power adapter, power supply |
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-- |
Manufacturing and sale of electronic
components |
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-- |
Trading of packaging materials |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted |
l
The components for production are mostly purchased
in domestic market.
l
Subject is engaged in sale of switching power
supply, etc.
l
Subject’s sales regions include Taiwan, Mainland
China, Japan, South Korea and Europe, etc.
l
It is introduced that subject has an R & D
centre (about 2,000 square meters) in Kaohsiung City, Taiwan.
l
Subject’s major customers are mobile manufacturer,
computer manufacturer, medical equipment manufacturer, and lamps and lanterns
manufacturer, etc.
Major products
|
Type |
Product |
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Consumer Market Power Supply |
Power Adapter Open Frame Power Supplies |
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Medical power supply |
External Power Supplies Open Frame Power Supplies U Bracket Power Supplies |
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I.T.E. Power Supply |
Waterproof Power Supply External Power Supplies Open Frame Power Supplies Enclosure Power Supplies U Bracket Power Supplies L Bracket Power Supplies |
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Medical Power Supply |
External Power Supplies Open Frame Power Supplies U Bracket Power Supplies |
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Health Care Power Supply |
External Power Supplies Open Frame Power Supplies |
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Industrial Power Supply |
External Power Supplies Open Frame Power Supplies Enclosure Power Supplies U Bracket Power Supplies L Bracket Power Supplies |
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Extreme operating temp. Power |
External Power Supplies Open Frame Power Supplies |
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DC / DC Converter |
Isolation Voltage: 500VDC Isolation Voltage: 1000VDC Isolation Voltage: 1500VDC |
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LED Power Supply |
LED Driver (AC/DC) LED Driver Module(DC/DC) |
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Tooling Driver |
Screw Driver Power Supplies |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Components |
T/T,
Cash, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
(Taiwan and Mainland China)
|
Sales
Terms |
Proportion |
|
|
Switching
power supply |
T/T,
Cash, etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Switching
power supply |
T/T,
L/C, 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.
|
Name |
Bank of Taiwan Pingtung Branch |
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Address |
43 Chung Shane Road, Pingtung, Taiwan,
R.O.C. |
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Account No.: |
017007001175 |
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SWIFT Code: |
BKTWTWTP017 |
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.04 |
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UK Pound |
1 |
Rs.83.95 |
|
Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.