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Report Date : |
03.10.2013 |
IDENTIFICATION DETAILS
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Name : |
MASTEX ENTERPRISE CO., LTD |
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Registered Office : |
12/F.3, No.102, Sec.2, Chung Shan N. Rd.,
Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
12.04.1979 |
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Com. Reg. No.: |
12220726 |
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business : |
Trader of
machinery including preparing textile yarns machinery, textile
machines and parts, making paper machinery |
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|
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No. of Employees : |
About 5 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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: |
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Trading Address: |
12/F.3, No.102, Sec.2, Chung Shan N. Rd.,
Taipei |
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Supplied Address: |
|
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Telephone Number: |
+886-2-2571-8867 |
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Fax Number: |
|
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
|
Registered Name: |
Mastex Enterprise Co., Ltd. |
|
Registered Address: |
12/F.3, No.102, Sec.2, Chung Shan N. Rd.,
Taipei |
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Date of Foundation: |
1979-4-12 |
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Registration Number: |
12220726 |
|
Registry: |
Taipei City Government |
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Registered Capital: |
(As of 2013.09, 1 NTD = 0.0339 USD) |
|
Legal Representatives: |
Mulin Liang |
|
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 1979-4-12 with registered number 12220726 as Private Limited Liability Company in Taiwan.
Unit: NTD
|
Name |
Subscription Amount |
|
Mulin Liang |
3,500,000 |
|
Yuelan You |
3,500,000 |
The information above is that of subject’s major shareholders.
Core
Management
|
1 |
|
|
Name |
Mulin Liang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yuelan You |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 5
Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a trader of machinery without any production activities.
Purchase
Information
l
The registered activities of subject:
|
1 |
The sales of textile machine parts, components
additives business |
|
2 |
Related products import and export trade
business above |
|
3 |
All kinds of industrial machinery,
hardware, electrical products import and export and sales operations |
|
4 |
Trading of refrigeration air-conditioning equipment |
|
5 |
General import and export trade business
(except futures) |
|
6 |
Agent, price quoting, bidding service of
all kinds of above mentioned items. |
l The products are
mostly purchased in domestic market.
l The subject is mainly
engaged in sales of machinery.
l The major products
sold by subject include preparing textile yarns machinery, textile machines and
parts, making paper machinery.
l The air conditioning
machine sold by subject is applied to spinning and weaving mill.
l The subject sales regions include Asia, America, Europe, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Machinery |
T/T,
Cash, etc |
100% |
Foreign Purchase
Subject has little
foreign purchase.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Machinery |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery |
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 Mr. Liang declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
2007,Beixiao, 6568 |
|
|
Date of Trial: |
2008-1-18 |
|
Reason: |
|
Name |
Mr. Liang |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
UK Pound |
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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 |
|
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.