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Report Date : |
03.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SHUAN HWA INDUSTRIAL CO., LTD. |
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|
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Registered Office : |
No.80, Chung Yi Rd., Rende Dist., Tainan
City 717 |
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Country : |
Taiwan |
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Date of Incorporation : |
20.03.1973 |
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Com. Reg. No.: |
72052358 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer and sale of steel pipe |
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No. of Employees : |
About 120 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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Moderate |
B1 |
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High |
B2 |
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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.
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Source : CIA |
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Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.80, Chung Yi
Rd., Rende Dist., Tainan City 717, Taiwan (R.O.C.) |
|
Supplied Address: |
80, CHUNG YI ROAD
CHIA VILLAGE, JEN TE SHIAN, TAINAN COUNTY TAIWAN. |
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Telephone Number: |
+886-6-270-1264 |
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Fax Number: |
+886-6-270-2521 |
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E-mail: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1973-3-20 with registered number 72052358 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Yongwen Cao |
2,294,700 |
|
Ziwen Cao |
|
|
5,178,000 |
|
|
Jiarong Lin |
160,000 |
|
Zhonghui Wu |
16,000 |
|
Junxian Dong |
16,000 |
The information above is that of subject’s major shareholders.
Factories
|
1 |
|
|
Name: |
Taiwan Factory |
|
Address: |
No.80 and 80-1 Chung Yi Rd., Rende Dist., Tainan
City 717, Taiwan (R.O.C.) |
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Date of Foundation: |
1973-4-16 |
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Date of Registration: |
1975-8-22 |
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Factory Registration Number: |
99656399 |
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Factory Manager: |
Yongwen Cao |
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Status: |
In Production |
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Date of Last Annual Return: |
2004-7-13 |
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2 |
|
|
Name: |
Vietnam Factory |
|
Address: |
No.19, Independence Avenue, Singapore Industrial Zone, Shunan County,
Pingyang Province, Vietnam |
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Tel: |
+84-19-6507-84366 |
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Fax: |
+84-19-6507-84388 |
Core
Management
|
1 |
|
|
Name |
Yongwen Cao |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Ziwen Cao |
|
Position |
Director |
|
3 |
|
|
Name |
Jiarong Lin |
|
Position |
Director |
|
4 |
|
|
Name |
Zhonghui Wu |
|
Position |
Director |
|
5 |
|
|
Name |
Junxian Dong |
|
Position |
Director |
|
6 |
|
|
Name |
Jinye Hou |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 120 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.80 Chung Yi Rd., Rende Dist., Tainan City
717, Taiwan (R.O.C.) |
l
Subject is engaged in manufacturing of steel pipe.
l
Subject has factories in Taiwan and Vietnam for
production and the detail information is as follows for reference.
|
Name |
Building Area |
Monthly Production Capacity |
|
Taiwan Factory |
8,680 square meters |
1,400 tons |
|
Vietnam Factory |
-- |
750 tons |
l
Subject obtained the certifications of ISO 9001,
ISO 9002 and QS9000.
Purchase
Information
l
The registered activities of subject:
|
1 |
Manufacturing and sales of automobile,
motorcycle, bicycle parts |
|
2 |
Manufacturing and selling of hydraulic
machine parts, machine, fire and rescue equipment and so on the equipment |
|
3 |
Agricultural machinery: tea plucking machine,
cultivation machine, harvest machine, machine, dryer, such as manufacturing
and assembly of the belt conveyor |
|
4 |
Manufacturing and selling of oil sealing
ring, oil sealing ring, rubber coat, automobiles, rubber products and
automobiles and building of plastic products |
|
5 |
Manufacturing and assembly of turret
tractor trailer and parts. |
|
6 |
Construction hardware and cold engineering
sold |
|
7 |
Manufacturing and selling of waste
aluminum, aluminum heat treatment, and regeneration anodized |
|
8 |
Gravity casting, low pressure casting and
forging quality about forging business |
|
9 |
Forging and electroplating business |
|
10 |
Processing manufacturing of precision
steel tube, boiler tube |
|
11 |
Manufacturing and selling sports instrument
of the piano, electrotone, Musical Instruments such as the organ |
|
12 |
Manufacturing and selling of furniture |
|
13 |
A career in production of investment |
l The components and
raw materials for production are mostly purchased in domestic market.
l Subject imports technology from Shin Showa Kokan Co., Ltd (Japan).
l Subject is engaged in sale of steel pipe.
l Subject’s sales regions include domestic market, Japan, and Europe, etc.
l The products sold by subject are applied to manufacturing of automobile,
motorcycle and bicycle
Major products
|
Type |
Product |
|
Auto Parts |
Door-Open Stay Shock Absorber Hydraulic Shock Absorber Suspension shock absorbers |
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Motorcycle |
Front Fork Shock Absorber Shock Absorber of refitted vehicle |
|
Bicycle |
Front Fork Shock Absorber |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Component
and raw materials |
T/T,
Cash, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Steel
pipe |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Steel
pipe |
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 Ms. Bing 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. Bing |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.86 |
|
UK Pound |
1 |
Rs.102.52 |
|
Euro |
1 |
Rs.87.06 |
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.