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Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
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Name : |
SESAME MOTOR CORP. |
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Registered Office : |
No.599, Sec. 1, Hemu Rd., Shengang Dist., Taichung City 42953, (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
20.07.1990 |
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Com. Reg. No.: |
23811500 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of motor and gearbox |
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No of Employees : |
About 100 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Unknown |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.599, Sec. 1, Hemu Rd., Shengang Dist., Taichung City 42953, Taiwan (R.O.C.) |
|
Supplied Address: |
|
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Telephone Number: |
+886-4-2561-0011 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact
name and address are as above.
Subject was incorporated on 1990-7-20 with registered number 23811500 as Joint Stock Company in Taiwan.
Factory
|
Address: |
No.599, Sec. 1, Hemu Rd., Shengang Dist., Taichung City 42953, Taiwan (R.O.C.) |
|
Date of Registration: |
2009-10-5 |
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Factory Registration Number: |
99713398 |
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Factory Manager: |
Fengzhou Jiang |
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Status: |
In Production |
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Date of Last Annual Return: |
2013-9-3 |
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Major Products: |
275 measurement, navigation, control equipment and clock 281 power equipment, transmission equipment, and distribution equipment 293 general machinery |
Related Company
|
Name |
Shanghai Sesame Motor Corp. |
|
Address |
3/F., Bldg 2, 1391, Taifeng Road, Anting Town, Jiading District, Shanghai City, China |
|
Telephone Number: |
+86-21-5950-6232 |
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Fax Number: |
+86-21-5950-6237 |
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Date of Registration: |
2011-5-6 |
|
Registration Number: |
310000400650161 |
|
Registry: |
Shanghai Industry and Commerce Bureau |
|
Registered Capital: |
USD 500,000 |
|
Legal Representatives: |
Fengzhou Jiang |
Major Shareholders
|
Name |
Subscription Shares |
|
Fengzhou Jiang |
747,505 |
|
Fengyi Lin |
1,290,498 |
|
Yinghong Lin |
705,024 |
|
Yan Lin Development Co., Ltd. (Literal Translation) |
1,715,135 |
Shareholder
Information
|
Name |
Yan Lin Development Co., Ltd (Literal Translation) |
|
Registered Address: |
7F.-1, No.559, Minquan Rd., North Dist., Taichung City, Taiwan (R.O.C.) |
|
Registration Number |
96864897 |
|
Date of Registration |
1996-1-31 |
|
Registry: |
Taichung City Government |
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Registered Capital: |
NTD 19,000,000 (USD 636,500) (As of 2014.11, 1 NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 19,000,000 (USD 636,500) |
|
Legal Representatives: |
Fengzhou Jiang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return |
2010-6-29 |
Core Management
Directors
|
1 |
|
|
Name |
Fengzhou Jiang |
|
Position |
|
|
2 |
|
|
Name |
Fengyi Lin |
|
Position |
Director |
|
3 |
|
|
Name |
Yinghong Lin |
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Position |
Director |
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4 |
|
|
Name |
Yuchen Yang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 100 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.599, Sec. 1, Hemu Rd., Shengang Dist., Taichung City 42953, Taiwan (R.O.C.) |
|
Construction Area |
|
|
Buildings Ownership |
Production
Information
· Subject is a manufacturer of motor and gearbox
· Subject has a factory (about 7,000 square meters) in Taichung City, Taiwan for production.
· Subject obtained the certifications of ISO 9001 and ISO 14001.
Purchase
Information
· The registered activities of subject:
|
Business Code |
Details |
|
CC01990 |
Manufacturing of computer and electronic machinery |
|
CB01010 |
Manufacturing of machinery and equipment |
|
CB01990 |
Manufacturing of other machinery |
|
CC01010 |
Manufacturing of power equipment, transmission equipment, and distribution equipment |
|
E604010 |
Machinery Installation |
|
C501990 |
Manufacturing of other wooden products |
|
F401010 |
International trade business |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted |
The components and raw materials for production are purchased from both home and abroad.
· Subject is mainly engaged in sales of motor and gearbox
· Subject’s major products include high precision planetary gearhead, general purpose motor, controller, speed controlled motor, brake motor, torque motor, speed reducer, linear actuator, precision gear motor, components
· The products are applied to tool machines, industrial robots, semiconductor devices, medical and rehabilitation equipment, electric scooter, auto storage devices, testing equipment, food machinery, packaging machinery and agricultural equipment,
· Subject’s sales regions include China, South Korea, Southeast Asia, America, Europe and Middle East, etc.
· Subject‘s major customers include Label Aire Inc and Hy-Ko Products Co, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Components and raw materials |
|
|
Payment Terms |
Cash, T/T, etc |
Foreign Purchase
|
Product |
Components and raw materials |
|
Payment Terms |
T/T, etc |
Sales
Domestic Markets
|
Product |
Motor and gearbox |
|
Payment Terms |
Cash, T/T, etc |
Export
|
Product |
Motor and gearbox |
|
Payment Terms |
L/C, T/T, etc |
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. Wang declined to disclose its financials citing the grounds of company’s confidentiality; from other source we cannot obtain the relevant information, either.
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
Mortgage
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
093174 |
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Debtor Name: |
Sesame Motor Corp. |
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Document Number: |
09705060410 |
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Date of Registration: |
2008-1-14 |
Lawsuit
|
2013, Zhongbu,2084 |
|
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Date of Trial: |
2013-10-31 |
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Reason: |
|
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Claimant: |
Sesame Motor Corp. |
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Defendant: |
Tan Guang Co., Ltd. (Literal Translation) |
|
Name |
Mr. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.97.05 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.