MIRA INFORM REPORT
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Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
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Name : |
HIGH HIT ENTERPRISE CO., LTD. |
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Registered Office : |
6F.-3, No.29-1, Lane 169, Kang-Ning St.,
Xizhi Dist., New Taipei City 221 |
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Country : |
Taiwan |
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Date of Incorporation : |
07.03.1983 |
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Com. Reg. No.: |
12426683 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and sales of electronic products and etc. |
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No. of Employees : |
About 200 Employees (Group) |
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) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Contact
Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
6F.-3, No.29-1, Lane 169, Kang-Ning St.,
Xizhi Dist., New Taipei City 221, Taiwan (R.O.C.) |
|
Supplied Address: |
6-F-3, 29-1, LANE 169, KANG-NING ST.,
SHI-CHIH DIST, NEW TAIPEI CITY 22180 TAIWAN |
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Telephone Number: |
+886-2-2695-0078 |
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Fax Number: |
Notes: The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
High Hit Enterprise Co., Ltd. |
|
Registered Address: |
6F.-3, No.29-1, Lane 169, Kang-Ning St., Xizhi Dist., New Taipei City
221, Taiwan (R.O.C.) |
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Date of Foundation: |
1983-3-7 |
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Registration Number: |
12426683 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
(As of 2013.5, 1 NTD = 0.0335 USD) |
|
Legal Representatives: |
Jidi Zhuang |
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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: |
History
Subject was incorporated
on 1983-3-7 with registered number 12426683
as Private Limited Liability Company in Taiwan.
Shareholders
|
Name |
Subscription Amount |
|
Jidi Zhuang |
6,000,000 |
The information above is that of subject’s major shareholders.
Subsidiaries
& Branches
Factory
|
Address |
Building 25, C
Area, Bu Yong Ind. Road, Shajing Town, Bao An Zone, Shenzhen City,
Guangdong Province, China |
|
Telephone Number |
+86-755-2723-9423 |
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Fax Number |
+86-755-2723-9576 |
Personnel Information
Core
Management
|
Name |
Jidi Zhuang |
|
Position |
Director |
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Total Employees |
About 200 Employees (Group) |
Operation Information
Offices
& Factories
|
|
Headquarters |
|
Add |
6F.-3, No.29-1, Lane 169, Kang-Ning St., Xizhi Dist., New Taipei City 221,
Taiwan (R.O.C.) |
l
The subject is a manufacturer of electronic products and etc.
l
It is introduced that
subject has a factory in Shenzhen City, Guangdong Province, the mainland of
China for production.
l
It is introduced that subject has obtained ISO
9001: 2008 and ISO/TS 16949:2009 certifications.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
1 |
General importing and exporting business and
external guarantee (except for future goods). |
|
2 |
Agent of sales, marking process and bidding for
domestic and overseas related manufacturers’ products. |
|
CC01030 |
Manufacturing of electrical appliances. |
|
CC01080 |
Manufacturing of electronic components. |
|
F401010 |
International trading business. |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
It is introduced that subject purchases components
and etc mainly in domestic market.
l The subject is
mainly engaged in sales of electronic
products and etc.
l
It is introduced that
subject’s selling territory includes Asia, Europe, America, Australia and etc.
l
It is introduced that
subject’s major customers are manufacturers of audiovisual equipment and etc.
l
It is introduced that
subject’s products are applied to ceiling, wall speaker, waterproof speaker, PA
speaker, marine speaker, micro speaker and etc.
l
It is introduced that
subject also provides OEM and ODM services.
Major Products
|
1 |
Car speakers |
|
2 |
Home audio speakers |
|
3 |
Mini speakers |
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Settlements
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components and
etc |
COD, CBD and etc |
100% |
Foreign Purchase
The subject has little
import.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Electronic products and etc. |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Electronic products and etc. |
CBD and etc |
100% |
Financial
Information
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.
It is introduced that subject’s annual sale is
about USD 7,000,000 per year.
Bankers
Public
Record
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.
Interview
Details
|
Name |
Ms. Cai |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
UK Pound |
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
<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.