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Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
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Name : |
KAYTON INDUSTRY CO., LTD. |
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Registered Office : |
No.461, Sec.1, Futzuen Rd., Yuanlin Jen,
Changhua |
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Country : |
Taiwan |
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Date of Incorporation : |
15.01.1993 |
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Com. Reg. No.: |
84163267 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer and sales of machinery |
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No. of Employees : |
60 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
|
Moderate |
B1 |
|
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.
|
Source : CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
+886-4-832-2471 |
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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: |
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Registered Name: |
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Registered Address: |
No.461, Sec.1, Futzuen Rd., Yuanlin Jen, Changhua, Taiwan, R.O.C. |
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Date of Foundation: |
1993-1-15 |
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Registration Number: |
84163267 |
|
Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2013.09, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 26,000,000 (USD 881,400) |
|
Legal Representatives: |
Xiuxian He |
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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 1993-1-15 with registered
number 84163267
as Joint Stock Company
in Taiwan.
|
Subscription Shares |
|
|
Xiuxian He |
1,680 |
|
Keying Li |
260 |
|
Guihua Liang |
260 |
|
Yuying Cai |
260 |
The information
above is that of subject’s major shareholders.
Factories
|
1 |
|
|
Address: |
No.
461 1 Sec, Fuzhen Road, Xidong Lane, Yuanlin Town, Zhanghua County, Taiwan. |
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Date of Foundation: |
2000-9-6 |
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Date of Registration: |
2000-9-19 |
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Factory Registration Number: |
99650244 |
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Factory Manager: |
Xiuxian
He |
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Status: |
In
Production |
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Date of Last Annual Return: |
2002-3-26 |
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2 |
|
|
Address: |
No.
38, 34 Lane, 1 Sec, Zhongshan Road, Meigang Village, Zhanghua Town, Taiwan. |
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Date of Foundation: |
1993-3-18 |
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Date of Registration: |
1993-4-15 |
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Date of closing business |
1996-11-11 |
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Factory Registration Number: |
99171098 |
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Factory Manager: |
Xiuxian
He |
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Status: |
Close
Business |
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Date of Last Annual Return: |
1993-4-15 |
|
3 |
|
|
Address: |
No. 25,
242 Lane, 1 Sec, Zhongshan Road, Gouzhao Lane, Yuanlin Town, Zhanghua County,
Taiwan |
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Date of Foundation: |
1996-2-14 |
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Date of Registration: |
1996-3-1 |
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Date of closing business |
2000-10-3 |
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Factory Registration Number: |
99187573 |
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Factory Manager: |
Xiuxian
He |
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Status: |
Close
Business |
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Date of Last Annual Return: |
2000-10-3 |
Core
Management
Directors
|
1 |
|
|
Name |
Xiuxian He |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Keying Li |
|
Position |
Director |
|
3 |
|
|
Name |
Guihua Liang |
|
Position |
Director |
|
4 |
|
|
Name |
Yuying Cai |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 60
Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is engaged in manufacturing of machinery.
l
Subject has a factory in Taiwan for
production.
l
Subject obtained the certification of
CE.
Purchase
Information
|
1 |
Rubber manufacturing machinery (contains
hardware, electrical spare parts)’s design, manufacture, sales business. |
|
2 |
Industrial hardware parts’ design, manufacture,
sales business. |
|
3 |
Import and export trade of related products
mentioned above. |
l
The components and raw material for
production are purchased from both home and abroad.
l
The subject is mainly engaged in sales of machinery.
l
The subject sales regions include
Taiwan, mainland china, and some other Asia countries.
l
Subject’s main customers include
“Continental”, “Pirelli & C. SpA”, etc.
l
Major
products
|
1 |
Fully Automatic Batch-Off Machine |
|
2 |
Pin Barrel, Cold Feed & Hot Feed Extruder . |
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3 |
Tread, Side-wall Extrusion Cooling, Winding,
Cutting Automation Train. |
|
4 |
Calendering Head Extruder (Max. Rubber Sheet
Width |
|
5 |
Inner Liner, Rubber Sheet Automatic Cooling ,
Cutting & Winding Train . |
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6 |
Auto Splicing Type Fabric Cutter & Winder |
|
7 |
Bead Wire Circumference Measuring Machine (
Including Computerized Engineering Analysis Function) |
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8 |
Radial , Bias Tire Hydraulic Type Curing Machine
(Including Laboratory Curing Press) |
|
9 |
Computer Controlled Drum Tester (Including Camber
, Slip and Rolling Resistance Functions) |
Import
and export right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Product |
Payment Terms |
Proportion |
|
Raw materials and components, etc |
COD, Credit Sales, etc |
100% |
Foreign Purchase
|
Product |
Payment Terms |
Proportion |
|
Raw materials and components, etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Product |
Sales Terms |
Proportion |
|
Tire making machinery, etc |
COD,CBD, etc |
100% |
Export
|
Product |
Sales Terms |
Proportion |
|
Tire making machinery, etc |
CBD, 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. Zhang 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
Up to
date of reporting, no existing or latent litigation of the subject has been
found.
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.63.37 |
|
UK Pound |
1 |
Rs.100.85 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit
not recommended |
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-- |
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.