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Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
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Name : |
CHENG LONG INTELLIGENT ENGINEERING CO., LTD |
|
|
|
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Registered Office : |
3F., No.526, Jhongshan Rd., Hualien City,
Hualien County 970 |
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|
|
|
Country : |
Taiwan |
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|
|
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Date of Incorporation : |
31.12.1987 |
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|
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Com. Reg. No.: |
22705087 |
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|
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Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
Providing construction services |
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|
|
|
No. of Employees : |
About 80 Employees |
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 : |
No Complaints |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
8F-2,No.2,Lane
258, Rueiguang Rd., Neihu District Taipei, Taiwan, R.O.C. |
|
Supplied Address: |
8F-2, No 2, Lane
258 Rueibuang Road, Neihu District Taipei City, Taiwan |
|
Telephone Number: |
+886-2-8751-9512 |
|
Fax Number: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1987-12-31 with registered number 22705087
as Joint Stock Company in
Taiwan.
Change of Name
|
Former English Name |
Cheng Long Construction Co., Ltd. |
|
Current English Name |
Cheng Long Intelligent Engineering Co., Ltd |
|
Name |
Subscription Shares |
|
Junyan Wu |
4,638,334 |
|
Changhan Wu |
|
|
1,421,958 |
|
|
Wenfeng Huang |
140,260 |
|
Changyi Wu |
1,421,479 |
The information above is that of subject’s major shareholders.
Branch Companies
|
Name |
Taipei Branch |
|
Registration Number |
70766695 |
|
Date of Registration |
2000-3-20 |
|
Status |
Live Company |
|
Manager Name |
Qingsu Chen |
|
Date of Last Annual Return |
2013-7-26 |
Offices
|
1 |
|
|
Name |
Hualien Office |
|
Address: |
3F., No.526, Jhongshan Rd., Hualien City,
Hualien County 970, Taiwan (R.O.C.) |
|
Tel: |
+886-3-856-1851 |
|
Fax: |
+886-3-856-3095 |
|
2 |
|
|
Name |
Kaohsiung Office |
|
Address: |
No.66, Lane 80, Qinan Road, Dashe District, Kaohsing City, Taiwan (R.O.C.) |
|
Tel: |
+886-3-7-352-9400 |
|
Fax: |
+886-3-7-352-7645 |
|
Principal Activities: |
1. Engineering repair works 2. Storeroom for machine and instrument 3. Dormitory |
Related Companies
|
1 |
|
|
Name |
Swat Energy Technology Co., Ltd. |
|
2 |
|
|
Name |
Golden Earth International Co., Ltd. |
|
3 |
|
|
Name |
Cheng Jun Investment Co., Ltd. |
|
4 |
|
|
Name |
Jin Tai F.R.P. Co., Ltd. |
Core Management
Directors
|
1 |
|
|
Name |
Junyan Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Changhan Wu |
|
Position |
Director |
|
3 |
|
|
Name |
Liying Lin |
|
Position |
Director |
|
4 |
|
|
Name |
Wenfeng Huang |
|
Position |
Director |
|
5 |
|
|
Name |
Yuyang Zhong |
|
Position |
Director |
|
6 |
|
|
Name |
Changyi Wu |
|
Position |
Supervisor |
|
6 |
|
|
Name |
Taiqian Zhang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 80 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
8F-2,No.2,Lane 258, Rueiguang Rd., Neihu District Taipei, Taiwan,
R.O.C. |
Production
Information
Subject is engaged in providing construction
services, etc without any production activities.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
CA01050 |
Steel secondary processing industry |
|
CA02010 |
Manufacturing of metal structure and building component |
|
CA02060 |
Manufacturing of metal container |
|
CB01010 |
Manufacturing of machinery |
|
CB01030 |
Manufacturing of pollution control equipment |
|
CC01010 |
Manufacturing of power equipment, transmitting equipment and
distribution equipment |
|
CC01030 |
Manufacturing of electrical equipment and audio-visual products |
|
CC01040 |
Manufacturing of lighting equipment |
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CC01110 |
Manufacturing of computer and peripheral equipment |
|
CE01010 |
Manufacturing of general instrument |
|
D101050 |
Cogeneration industry |
|
E599010 |
Piping engineering industry |
|
E601020 |
Installation of electrical equipment |
|
E602011 |
Air conditioning engineering industry |
|
E603050 |
Automatic control equipment engineering industry |
|
E603090 |
Installation of lighting equipment |
|
E604010 |
Installation of machinery |
|
E605010 |
Installation of computer |
|
EZ05010 |
Installation of instrument and apparatus |
|
F106010 |
Wholesale of ironware |
|
F113010 |
Wholesale of machinery |
|
F113020 |
Wholesale of electrical equipment |
|
F113030 |
Wholesale of precise instrument |
|
F113050 |
Wholesale of computer and office equipment |
|
F113100 |
Wholesale of pollution-prevention equipment |
|
F114080 |
Wholesale of railway vehicles and its parts |
|
F206010 |
Retail of ironware |
|
F213010 |
Retail of electrical equipment |
|
F213040 |
Retail of precise instrument |
|
F213080 |
Retail of machinery |
|
F213100 |
Retail of pollution-prevention equipment |
|
F214080 |
Retail of railway vehicles and its parts |
|
F401010 |
International trade business |
|
G799990 |
Other transport auxiliary industry |
|
I199990 |
Other consultant service |
|
I301010 |
Software service |
|
I501010 |
Product design |
|
IG03010 |
Energy technology services |
|
J101050 |
Environmental testing services |
|
JA02990 |
Other repair services |
|
JE01010 |
Leasing business |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
Subject purchases facilities for construction from
both home and abroad such as Taiwan, Mainland China and Germany, etc.
We obtained some of subject’s facilities as
follows for reference.
|
1 |
Flash Butt Rail Welding Equipment |
|
2 |
Hydraulic Drilling Equipment |
|
3 |
Rail Grinder |
|
4 |
5 tons Ratchet Track Jack |
|
5 |
Hydraulic Power Wrench |
|
6 |
Rail Mover |
|
7 |
Overhead Crane |
|
8 |
Concrete Drilling Machine |
|
9 |
Switch Measuring Gauge |
|
10 |
Surveyor’s level |
|
11 |
Trolley |
|
12 |
Line Clear Vehicle |
|
13 |
Drag-out Slag Car |
|
14 |
Tie Tamper |
|
15 |
Fork Lift Truck |
|
16 |
Concrete Grouting Car |
|
17 |
Clearance Testing Car |
|
18 |
Bathometer |
|
19 |
Theodolite |
|
20 |
Laser Level |
|
21 |
Laser Vertical Meter |
|
22 |
Laser Plummet |
|
23 |
Laser Rail Profile Scanner |
|
24 |
Flash Butt Welder |
|
25 |
Line Inspection Car |
|
26 |
Rail Welding Machine |
|
27 |
Rail Grinding Car |
|
28 |
Rail Saw |
|
29 |
Bolt Locking Machine |
|
30 |
Drilling Machine |
Subject is engaged in sale of construction services, etc.
Subject’s service region is mainly in Taiwan
domestic market.
The services provided by subject are mainly
applied to constructing of railway, bridge, steel mill, school, hospital, and
electric power company.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
It is introduced that the details of
settlements are to be negotiated.
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. 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
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. Zhang |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.03 |
|
|
1 |
Rs.104.32 |
|
Euro |
1 |
Rs.88.24 |
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.