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Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SHYR SHIN MACHINERY INDUSTRY CO., LTD. |
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Registered Office : |
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Country : |
Taiwan |
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Date of Incorporation : |
11.09.2009 |
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Com. Reg. No.: |
25030332 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture and trade of tires equipments and the related products |
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No. of Employees : |
30 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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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.
|
Source : CIA |
|
Company Name: |
Shyr Shin Machinery Industry Co., Ltd. |
|
Supplied Name: |
Shyr Shin Machinery Industry Co Ltd |
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Trading Address: |
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Supplied Address: |
No. 43 Ritai ST Yuanlin Township, Changhua Country 510, Taiwan |
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Telephone Number: |
+886-4-8348073 |
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Fax Number: |
+886-4-8333893 |
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E-mail: |
Notes:The supplied address is incomplete, and the exact address is as above.
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Credit Opinion: |
Subject was incorporated on
Change
of Name
|
Former
English Name |
All-Round
Innovation Machinery Industry Co., Ltd. |
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Current
English Name |
Shyr Shin Machinery Industry Co., Ltd. |
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Name |
Subscription Amount |
|
Jinping Gao |
500,000 |
The information
above is that of subject’s major shareholders.
Core Management
Directors
|
Name |
Jinping Gao |
|
Position |
Director |
Personnel Structure
|
Total Employees |
About 30 Employees |
Offices & Factories
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|
Headquarters |
|
Add |
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Production Information
l
Subject is a manufacturer of tires equipments and the related
products with the production activities
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacture of machinery |
|
F113010 |
Wholesale of machinery |
|
F106010 |
Wholesale of hardware |
|
F401010 |
International Trade |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The components and raw material for
production are purchased from local.
l
Subject is mainly engaged in
manufacturing and trading of tires equipments and the related products.
l
Subject introduced that its Major
products sold as following:
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|
Product |
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Tire Equipment |
Bias Making Machine |
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Bead Wire Making Machine |
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Tread Process Line |
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Tire Building Machines |
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Tire Curing Machine |
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Tire Testing Machine |
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Tire Wrapping Machine |
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Tube Equipment |
Tube Curing Press |
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Tube Printer, Tube Making Equipment |
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Flap Curing Press |
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Others |
l
Subject introduced that the products
are mainly for bicycle or motorcycle.
l
Subject’s selling territory covers
both local and overseas, such as Turkey, Malaysia, Brazil and so on.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Subject declined to
disclose the purchase settlements information, and from other sources, we
couldn’t obtain the information, either.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Tires and the
related products. |
COB, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Tires and the
related products. |
L/C , T.T, etc. |
100% |
Notes: Subject’s
settlement for export is generally in USD
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. Gao declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
The bankers’ information is not available from the subject or other
sources.
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. Gao |
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 |
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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 |
|
<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.