|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNITECH FOODSERVICE EQUIPMENT CORP. |
|
|
|
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Registered Office : |
8F.-2, No.348, Sec. 6, Nanjing
E. Rd., Neihu District, Taipei City 11470 |
|
|
|
|
Country : |
Taiwan |
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|
|
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Date of Incorporation : |
28.03.1996 |
|
|
|
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Com. Reg. No.: |
96949827 |
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|
|
|
Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
· trader of Catering Equipment including Kitchen Equipment (such as Coffee Machine, Bean Grinder, Ice Crusher, Ice Cream Maker, Stove & Dish-Washing Machine) & Baking Equipment (Blender, Noodle Press, Freezer & Car Bottom Furnace) Manufacturer of machinery Manufacturer of electric appliance and audio-visual
products Wholesaler of electric appliance |
|
|
|
|
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. Taiwan's diplomatic
isolation, low birth rate, and rapidly aging population are other major
long-term challenges. Free trade agreements have proliferated in East Asia over
the past several years, and following the landmark Economic Cooperation
Framework Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013
signed a free trade deal with New Zealand—Taipei’s first-ever with a country
with which it does not maintain diplomatic relations—and in November inked a
trade pact with Singapore. Negotiations continue on follow-on components of
ECFA regarding trade in goods and a dispute resolution mechanism; a trade in
services agreement is under review in the legislature. 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 overall trade surplus largely because of its surplus with
China, and its foreign reserves are the world's sixth largest, behind China,
Japan, Saudi Arabia, Russia, and Switzerland. 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. Taiwan since
2009 has gradually loosened rules governing Chinese investment on the island,
and has also secured greater market access for its investors in the mainland.
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.348,
Sec. 6, Nanjing E. Rd., Neihu District, Taipei City 11470,
Taiwan (R.O.C.) |
|
Supplied Address: |
8F-2 No 348 Sec
6 Nanjing East Rd Nei Hu
District Taipei City 11470 Taiwan |
|
Telephone Number: |
+886-2-2792-2788 |
|
Fax Number: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1996-3-28 with registered number 96949827 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Bowen
Li |
1,253,390 |
|
Guoquan
Chen |
|
|
1,099,980 |
|
|
Weiquan
Dong |
824,983 |
|
Toptech
Systems Corp. |
996,666 |
|
Baoxiu
Wang |
824,981 |
The information
above is that of subject’s major shareholders.
Shareholder
Information:
|
Registered Name: |
Toptech
Systems Corp. |
|
Registered Address: |
4Fl.,-2, No.356, Sec.5, Nan King
E. Rd., Taipei, Taiwan, R.O.C. |
|
Date of Foundation: |
1995-8-16 |
|
Registration Number: |
89596860 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 20,000,000 (USD 680,000) (As of 2014.04, 1 NTD = 0.0340
USD) |
|
Paid-up Capital: |
NTD 20,000,000 (USD 680,000) |
|
Legal Representatives: |
Bowen Li |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-4-18 |
Relted
Company
|
Name: |
Shanghai Unitech
Food Machinery Co., Ltd. |
|
Address: |
Room 223B, No.139, Rongmei Road,
Zhongshan Street, Songjiang
District, Shanghai City, China |
|
Date of Registration: |
1999-10-21 |
|
Registration Number: |
310227000576228 |
|
Registry: |
Shanghai Industry and Commerce Administration Songjiang Branch |
|
Registered Capital: |
CNY 1,000,000 |
|
Legal Representatives: |
Guoquan
Chen |
|
Term of Operation: |
From 1999-10-21 to 2060-12-31 |
Core Management
|
1 |
|
|
Name |
Bowen Li |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Guoquan
Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Weiquan
Dong |
|
Position |
Director/ Manager |
|
Date of Appointment |
2008-11-3 |
|
4 |
|
|
Name |
Qixin Liu |
|
Position |
Director |
|
5 |
|
|
Name |
Baoxiu
Wang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 80
Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
8F.-2, No.348, Sec. 6, Nanjing
E. Rd., Neihu District, Taipei City 11470, Taiwan
(R.O.C.) |
Production
Information
l
Subject is a trader of catering equipment without any
production activities.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
|
CB01990 |
Manufacturing of other machines |
|
CC01030 |
Manufacturing of electric appliance and
audio-visual products |
|
F113010 |
Wholesale of machinery |
|
F113020 |
Wholesale of electric appliance |
|
F113990 |
Wholesale of other mechanical appliance |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
Subject purchases
products mainly from abroad such as Japan, Europe and USA, etc.
l
Subject is engaged in
sale of catering equipment
l
Subject is the agent of
many brands such as “PITCO”, “Schaerer”, “Blentec”, “Giga”, “MOFFAT”, “TURBOCHEF”, “MONTAGUE” and
“LAINOX”.
l
Subject’s sales regions
include Taiwan and Mainland China, etc.
l
Subject’s major customers
are “7-ELEVEN”, “Starbucks”, “Afternoon Tea”, “McDonald’s” and “Subway”, etc.
Major
products
|
Type |
Product |
|
Kitchen Equipment |
Coffee Machine Bean Grinder Ice Crusher Ice Cream Maker Stove Dish-Washing Machine |
|
Baking Equipment |
Blender Noodle Press Freezer Car Bottom Furnace |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
Subject has little
domestic purchase.
Foreign Purchase
|
Terms |
Proportion |
|
|
Catering equipment, etc |
L/C,
T/T, etc |
Sales
Domestic Markets
(Taiwan and Mainland China)
|
Terms |
Proportion |
|
|
Catering equipment, etc |
Cash,
T/T, etc |
100% |
Export
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. Lin 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
|
1 |
|
|
2008, Beijian,
26854 |
|
|
Date of Trial: |
2008-10-20 |
|
Reason: |
Pay for notes |
|
Claimant: |
Unitech Foodservice Equipment Corp. |
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Defendant: |
Da Zhuan Catering
development Co., Ltd. (Literal Translation) |
|
2 |
|
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Trial Number: |
2007, Beijian,
29791 |
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Date of Trial: |
2007-8-10 |
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Reason: |
Pay for notes |
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Claimant: |
Unitech Foodservice Equipment Corp. |
|
Defendant: |
San Francisco Baking Food Co.,
Ltd. (Literal Translation) |
|
Name |
Ms. Lin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.21 |
|
UK Pound |
1 |
Rs.101.05 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
-- |
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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.