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Report Date : |
17.10.2013 |
IDENTIFICATION DETAILS
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Name : |
STCMACH TECHNOLOGY CO., LTD. |
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Registered Office : |
1F., No.1, Ln. 311, Nandou Rd., Shalu
Dist., Taichung City 43347, Taiwan (R.O.C.) |
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Country : |
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Date of Incorporation : |
27.10.2011 |
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Com. Reg. No.: |
53624693 |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Trading of water
treating equipment |
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No. of Employees : |
10 |
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 |
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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 |
|
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: |
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|
Supplied Name: |
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Trading Address: |
No. 153-9, Lane 319, Youyuan South Road, 43448 Taichung City, Taiwan,
R.O.C. |
|
Supplied Address: |
153-9 Lane 319 Youyuan South Road Sindongcum Village Longjing |
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Telephone Number: |
+886-4-2632-0768/ 2631-9886 |
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Fax Number: |
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E-mail: |
The exact name and
address are as above.
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Credit Opinion: |
|
|
Risk Analysis: |
Average
creditworthiness |
|
Registered Name: |
Stcmach Technology
Co., Ltd. |
|
Registered
Address: |
1F., No.1, Ln.
311, Nandou Rd., Shalu Dist., Taichung City 43347, Taiwan (R.O.C.) |
|
Date of
Foundation: |
2011-10-27 |
|
Registration
Number: |
53624693 |
|
Registry: |
Taichung City
Government |
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Registered
Capital: |
(As of 2013.10, 1
NTD = 0.0340 USD) |
|
Legal
Representatives: |
Yajie Nan |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 2011-10-27
with registered number 53624693 as
Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Yajie Nan |
350,000 |
The information above is that of subject’s major shareholders.
Related Company
|
Name |
Speed Tools Co., Ltd. |
|
Address: |
No. 153-9, Lane 319, Youyuan South Road, 43448 Taichung City, Taiwan, R.O.C. |
|
Tel: |
+886-4-2632-0768 |
|
Principal Activities: |
Trading of all kinds of cutting tools, etc |
Core Management
|
Name |
Yajie Nan |
|
Position |
Director |
Personnel Structure
|
Total Employees |
About 10 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No. 153-9, Lane 319, Youyuan South Road, 43448 Taichung City, Taiwan, R.O.C. |
Production Information
Subject is a trader of water treating equipment, etc without
any production activities.
Purchase Information
The registered activities
of subject:
|
Business Code |
Details |
|
F401010 |
International trade business |
|
F106010 |
Wholesale of hardware |
|
F111090 |
Wholesale of building materials |
|
F113010 |
Wholesale of machinery |
|
F199990 |
Wholesale of other products |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
Subject purchases products mainly
from Germany.
Subject’s major supplier is
Christiani Wassertechnik Gmbh.
Subject is engaged in sale of
water treating equipment, etc.
Subject’s sales regions include
domestic market, Mainland China and Southeast Asia, etc.
Subject
is an authorized distributor for the water treating equipment with the brand
“Vulcan”.
The water treating equipments sold
by subject are applied to home, restaurant, hotel, and hospital, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little domestic purchase.
Foreign Purchase
|
Terms |
Proportion |
|
|
Equipment, etc |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Equipment, etc |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Equipment, etc |
L/C, T/T, etc |
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. Zhuang 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.: |
085970 |
|
Debtor
Name: |
Stcmach
Technology Co., Ltd. |
|
Document
Number: |
09505061140 |
|
Date
of Registration: |
2006-1-4 |
|
Date
of Alteration: |
-- |
|
Status: |
Pay
off |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Interview Date |
2013-10-16 |
|
Name |
Ms. Zhuang |
|
Department |
Sales Department |
The credit index is
in fact the number of risky points. The lower credit index is, the higher is
the creditworthiness of the company. The following table can be used for
evaluation of the creditworthiness of a company:
|
100 – 150 risky
points |
Very good
creditworthiness |
|
151 – 250 risky
points |
Good
creditworthiness |
|
251 – 320 risky
points |
Average
creditworthiness |
|
321 – 400 risky
points |
Poor
creditworthiness |
|
401 – 500 risky
points |
Insufficient
creditworthiness |
|
501 – 600 risky
points |
Business
connection is rejected |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.