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Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
CENTRE CLOCK INDUSTRY CO., LTD. |
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|
|
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Registered Office : |
No.375, Zi-Li Rd., Wuqi Dist., Taichung City
435 |
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Country : |
Taiwan |
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Date of Incorporation : |
20.04.1970 |
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Com. Reg. No.: |
51283255 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of clock and watch. |
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|
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No. of Employees : |
About 35 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 4.0%. 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: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.375, Zi-Li
Rd., Wuqi Dist., Taichung City 435, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-4-2639-2001 |
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Fax Number: |
Notes: The exact name and address are as above.
|
Registered Name: |
Centre Clock Industry Co., Ltd. |
|
Registered Address: |
No.375, Zi-Li Rd., Wuqi Dist., Taichung City
435, Taiwan (R.O.C.) |
|
Date of Foundation: |
1970-4-20 |
|
Registration Number: |
51283255 |
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Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2013.11, 1 NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 21,000,000 (USD 703,500) |
|
Legal Representatives: |
Dunsen Mu |
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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 1970-4-20 with registered number 51283255
as Joint Stock Company in
Taiwan.
|
Name |
Subscription
Shares |
|
Dunsen Mu |
8,542 |
|
Shanke Mu |
|
|
4,408 |
|
|
Shanhua Mu |
20 |
|
Shanling Mu |
3,980 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No.375, Zi-Li Rd., Wuqi Dist., Taichung City
435, Taiwan (R.O.C.) |
|
Date of Foundation: |
1986-1-27 |
|
Date of Registration: |
1986-5-13 |
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Factory Registration Number: |
99642103 |
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Factory Manager: |
Dunsen Mu |
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Status: |
In Production |
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Date of Last Annual Return: |
2003-3-3 |
|
Major Products: |
275 Measurement, navigation and control equipment and clock |
Core Management
Directors
|
1 |
|
|
Name |
Dunsen Mu |
|
Position |
|
|
2 |
|
|
Name |
Shanke Mu |
|
Position |
Director |
|
3 |
|
|
Name |
Shanhua Mu |
|
Position |
Director |
|
4 |
|
|
Name |
Shanling Mu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 35 Employees. |
Offices & Factories
|
|
Headquarters |
|
Add |
No.375, Zi-Li Rd., Wuqi Dist., Taichung City 435, Taiwan (R.O.C.) |
Production
Information
Subject is a manufacturer of clock,
watch
It is introduced that subject has a factory in
Taiwan for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CE01040 |
Manufacturing of watch and clock. |
|
CD01030 |
Manufacturing of automobile and components. |
|
CD01050 |
Manufacturing of bike and components. |
|
CC01030 |
Manufacturing of electrical appliances and audio visual electronic
products. |
|
C502010 |
Manufacturing of bamboo products |
|
C302010 |
Weaving industry |
|
F401030 |
Exporting of manufacturing. |
|
F401010 |
International trading business. |
|
CH01010 |
Manufacturing of sports products. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The components and raw material for production are mostly purchased in
domestic market.
·
The subject is mainly engaged in manufacturing and
sales of clock, watch
·
It is introduced that
subject’s major products are wall clocks
·
It is introduced that
subject’s selling territory is both at home and abroad.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Payment Terms |
Proportion |
|
|
The components
and raw material |
COD, CBD |
100% |
Foreign
Purchase
The subject has
little import.
Sales
Domestic
Markets
|
Sales Terms |
Proportion |
|
|
Clock, watch |
COD, CBD |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Clock, watch |
CBD |
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. Mu 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. Mu |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
|
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 |
|
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 |
|
---- |
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.