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Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
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Name : |
FULL SHINE PLASTIC MACHINERY CO., LTD. |
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|
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Registered Office : |
No.31, Gungye 20th Rd., Taiping
Dist., Taichung City 411 |
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Country : |
Taiwan |
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Date of Incorporation : |
30.06.1993 |
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Com. Reg. No.: |
84417451 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of machinery |
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No. of Employees : |
About 40 Employees |
RATING & COMMENTS
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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 : |
Slow but Correct |
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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 |
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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 4.0%. 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: |
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Supplied Name: |
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Trading Address: |
No. 18, Lane
901, Guang Shing Road, Taiping District, Taichung City, Taiwan 411, R.O.C |
|
Supplied Address: |
31, GUNGYE 20TH
RD, TAIPING DIST TAICHUNG CITY. TAIWAN ROC CODE 411 |
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Telephone Number: |
+886-4-2276-5071 |
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Fax Number: |
+886-4-2276-5070 |
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E-mail: |
Notes: The exact name and address are as above
and the supplied address belongs to subject’s factory.
|
Registered Name: |
FULL SHINE PLASTIC MACHINERY CO., LTD. |
|
Registered Address: |
No.31, Gungye 20th Rd., Taiping Dist.,
Taichung City 411, Taiwan (R.O.C.) |
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Date of Foundation: |
1993-6-30 |
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Registration Number: |
84417451 |
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Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2013.10, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 11,500,000 (USD 391,000) |
|
Legal Representatives: |
Hejie Huang |
|
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 1993-6-30 with registered number 84417451
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Hejie Huang |
6,000 |
|
Tianfu Gao |
|
|
500 |
|
|
Zhuangjie Xie |
2,000 |
|
Suqin Zhang |
3,000 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No.31, Gungye 20th Rd., Taiping
Dist., Taichung City 411, Taiwan (R.O.C.) |
|
Date of Registration: |
2003-4-22 |
|
Factory Registration Number: |
99643687 |
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Factory Manager: |
Hejie Huang |
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Status: |
In Production |
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Date of Last Annual Return: |
203-4-22 |
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Major Products: |
Other special machinery |
Related Company
|
Name: |
Chieh Ke Int'l VN Co. Ltd |
|
Address: |
Ap An My, Xa An Dien, Huyen Ben Cat, Tinh Binh Duong, Vietnam |
|
Tel: |
+84-650-355-4128 |
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Fax: |
+84-650-355-4166 |
Core Management
Directors
|
1 |
|
|
Name |
Hejie Huang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Tianfu Gao |
|
Position |
Director |
|
3 |
|
|
Name |
Zhuangjie Xie |
|
Position |
Director |
|
4 |
|
|
Name |
Suqin Zhang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 40 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No. 18, Lane 901, Guang Shing Road, Taiping District, Taichung City,
Taiwan 411, R.O.C |
Production
Information
Subject is engaged in manufacturing of machinery, etc.
Subject has a factory in Taichung
City, Taiwan for production.
Subject obtained the certification of ISO 9001
and CE.
Purchase
Information
The registered activities of subject:
|
1 |
Manufacturing and processing of plastic machinery |
|
2 |
Sales of plastic materials |
|
3 |
Manufacturing, processing and sale of plastic products (hardware
parts, machine parts, toy) (besides gambling electric toy and popgun) |
|
4 |
Manufacturing, processing and sale of tip and mould |
|
5 |
Import and export of above items |
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6 |
Agent, price quoting, bidding service and marketing of all kinds of
above mentioned items. |
The components and raw materials for production are purchased from both
home and abroad such as Taiwan domestic market and Europe, etc.
Subject is engaged in sale of machinery,
etc.
The major products sold by subject include automatic blow molding
machine, PET stretch blow molding machine, one-step injection blow molding
machine and accessories, etc.
Subject’s sales regions include domestic market, Vietnam, Thailand,
other Asian countries, Middle East, Europe and America, etc.
Subject’s major customers are manufacturers of beverage, cosmetic and
toy, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components and
raw materials |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Machinery, etc |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery, etc |
L/C, T/T, 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. Wang 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 |
Mr. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.