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Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SESAME MOTOR CORP. |
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|
|
|
Registered Office : |
No.599, Sec. 1, Hemu Rd., Shengang Dist., Taichung
City 42953 |
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|
|
|
Country : |
Taiwan |
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|
|
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Date of Incorporation : |
20.07.1990 |
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|
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Com. Reg. No.: |
23811500 |
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|
|
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Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Manufacturing and sales of motor and gearbox |
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|
|
|
No. of Employees : |
About 100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but correct |
|
Litigation : |
Exist |
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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.599, Sec. 1,
Hemu Rd., Shengang Dist., Taichung City 42953, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-4-2561-0011 |
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Fax Number: |
|
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E-mail: |
Subject was incorporated
on 1990-7-20 with registered number 23811500
as Joint Stock Company in
Taiwan.
|
Name |
Subscription
Shares |
|
Fengzhou Jiang |
747,505 |
|
Zhizhong Hong |
|
|
1,162,699 |
|
|
Fengyi Lin |
1,162,699 |
|
Yan Lin Development Co., Ltd (Liberal Translation) |
1,715,135 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No.599, Sec. 1, Hemu Rd., Shengang Dist.,
Taichung City 42953, Taiwan (R.O.C.) |
|
Date of Registration: |
2009-10-5 |
|
Factory Registration Number: |
99713398 |
|
Factory Manager: |
Fengzhou Jiang |
|
Status: |
In Production |
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Date of Last Annual Return: |
2013-9-3 |
|
Major Products: |
275 Measurement, navigation and control equipment and clock 281 Machinery for electricity generation, electricity transmission and
distribution of electricity. 293 General machinery and equipment |
Related Companies
|
1 |
|
|
Name |
Yan Lin Development Co., Ltd (Liberal Translation) |
|
Registration Number |
96864897 |
|
Date of Registration |
1996-1-31 |
|
Registered Address: |
7F.-1, No.559, Minquan Rd., North Dist., Taichung City, Taiwan
(R.O.C.) |
|
Registry: |
Taichung City Government |
|
Registered Capital: |
NTD 19,000,000 (USD 636,500) (As of 2013.11, 1 NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 19,000,000 (USD 636,500) |
|
Legal Representatives: |
Fengzhou Jiang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return |
2010-6-29 |
|
2 |
|
|
Name |
Shanghai Sesame Motor Corp. |
|
Address |
3F, 2nd Bldg., 1391, Tai Feng Rd., An Ting, Jia Ding, Shanghai, the
mainland of China |
|
Telephone Number: |
+86-21-5950-6232;009-86-21-5950-6231 |
|
Fax Number: |
+86-21-5950-6237 |
Core Management
Directors
|
1 |
|
|
Name |
Fengzhou Jiang |
|
Position |
|
|
2 |
|
|
Name |
Zhizhong Hong |
|
Position |
Director |
|
3 |
|
|
Name |
Fengyi Lin |
|
Position |
Director |
|
4 |
|
|
Name |
Yan Lin Development Co., Ltd (Liberal Translation) |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 100 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.599, Sec. 1, Hemu Rd., Shengang Dist., Taichung City 42953, Taiwan
(R.O.C.) |
|
Construction Area |
|
|
Buildings Ownership |
Production
Information
·
Subject is a manufacturer of motor and gearbox
·
Subject has a factory in Taiwan for production.
·
Subject has obtained ISO 9001 certification.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CC01990 |
Manufacturing of computer and electronic machinery. |
|
CB01010 |
Manufacturing of machinery and equipment. |
|
CB01990 |
Manufacturing of other machinery. |
|
CC01010 |
Manufacturing of machinery for electricity generation, electricity
transmission and distribution of electricity. |
|
E604010 |
Installation of machinery. |
|
C501990 |
Manufacturing of other wooden products. |
|
F401010 |
International trading business. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The components and raw material for production are purchased both at
home and abroad.
·
The subject is mainly engaged in manufacturing and
sales of motor and gearbox, etc.
·
The subject’s selling
territory is covering China, South Korea, Southeast Asia, America, Europe, the
Middle East and etc.
·
Subject‘s major customers
include manufacturers of machinery and etc.
·
Subject’s products are applied to tool machines,
industrial robots, semiconductor devices, aircraft industrial, medical and
rehabilitation equipment, electric scooter, auto storage devices, green
energy-related industries, testing equipment, food machinery, packaging
machinery and agricultural equipment and other sophisticated automation
equipment, etc.
Major Products
|
|
Product |
|
1 |
High Precision Planetary Gearhead |
|
2 |
General Purpose Motor |
|
3 |
Controller |
|
4 |
Speed Controlled Motor |
|
5 |
Brake Motor |
|
6 |
Torque Motor |
|
7 |
Speed Reducer |
|
8 |
Linear Actuator |
|
9 |
Precision Gear Motor (V-Casing Type & Foot-Mount Type) |
|
10 |
Components |
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
|
Payment
Terms |
Proportion |
|
|
The components
and raw material |
CBD |
100% |
Sales
Domestic
Markets
|
Sales
Terms |
Proportion |
|
|
Motor and
gearbox, etc. |
COD, CBD |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Motor and
gearbox, etc. |
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. Zhang 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
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
093174 |
|
Debtor Name: |
Sesame Motor Corp. |
|
Document Number: |
09705060410 |
|
Date of Registration: |
2008-1-14 |
Lawsuit
|
2013, Zhongbu,2084 |
|
|
Date of Trial: |
2013-10-31 |
|
Reason: |
|
Name |
Ms. Zhang |
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.