|
Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
FAIR FRIEND ENTERPRISE CO., LTD. |
|
|
|
|
Registered Office : |
No.186, Yongji Rd., Sinyi District, Taipei City 110 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
15.03.1979 |
|
|
|
|
Com. Reg. No.: |
30878408 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of machines |
|
|
|
|
No. of Employees |
300 |
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 – 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 |
|
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: |
No.186, Yongji Road, Xinyi District, Taipei City 110, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2763-9696 |
|
Fax Number: |
Notes: The exact
name and address are as above. The supplied address belongs to subject’s
factory.
Subject was incorporated on 1979-3-15 with registered number 30878408 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Yuwei Zhu |
6,414,980 |
|
Ziti Wang |
|
|
4,361,925 |
|
|
Xunv Zhu |
1,667,338 |
|
Fairskq (Taiwan) Co., Ltd. |
259,025 |
|
Lisheng Li |
1,064,302 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
Registered Name: |
Fairskq (Taiwan) Co., Ltd. |
|
Registered Address: |
No.186, Yongji Rd., Sinyi District, Taipei City 110, Taiwan (R.O.C.) |
|
Date of Foundation: |
1988-11-9 |
|
Registration Number: |
23167311 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 100,000,000 (USD 3,400,000) (As of 2014.07, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 100,000,000 (USD 3,400,000) |
|
Legal Representatives: |
Yuwei Zhu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2012-8-23 |
Factories
|
1 |
|
|
Name: |
Taichung Factory |
|
Address: |
No.5, Nangong 7th Road, Rinan Li, Dajia District, Taichung City, Taiwan |
|
Date of Foundation: |
1994-5-26 |
|
Date of Registration: |
1994-8-9 |
|
Factory Registration Number: |
99635024 |
|
Factory Manager: |
Yuwei Zhu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2006-3-27 |
|
Major Products: |
293 general machinery 289 other electrical equipment |
|
2 |
|
|
Name: |
Taichung 1st Factory |
|
Address: |
No.133, Industrial 1st Road, Xiehe Li, Xitun District, Taichung City, Taiwan |
|
Date of Foundation: |
1987-1-10 |
|
Date of Registration: |
1991-6-27 |
|
Factory Registration Number: |
99669142 |
|
Factory Manager: |
Yuwei Zhu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2006-3-16 |
|
Major Products: |
259 other metal products 293 general machinery 252 metal structures and building components 291 metal processing machinery 292 other special-purpose mechanical device 271 computer and peripheral equipment 281 power equipment, transmission equipment and distribution equipment |
Branch
|
Name: |
Taichung Branch |
|
Address: |
No.133, Industrial 1st Road, Xiehe Li, Xitun District, Taichung City, Taiwan |
|
Registration Number: |
97177643 |
|
Date of Registration: |
1997-3-15 |
|
Status: |
Live |
|
Manager Name: |
Yuwei Zhu |
|
Date of Last Annual Return: |
2006-2-21 |
Core Management
Directors
|
1 |
|
|
Name |
Yuwei Zhu |
|
Position |
Board Chairman & Manager |
|
Date of Appointment |
2006-1-10 |
|
2 |
|
|
Name |
Ziti Wang |
|
Position |
Director |
|
3 |
|
|
Name |
Xunv Zhu |
|
Position |
Director |
|
4 |
|
|
Name |
Fairskq (Taiwan) Co., Ltd. |
|
Position |
Director |
|
5 |
|
|
Name |
Lisheng Li |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 300 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.186, Yongji Road, Xinyi District, Taipei City 110, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of machinery.
Subject has factories in Taichung City, Taiwan for production.
Subject obtained the certification of ISO 9002 and ISO 14001.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
|
CB01990 |
Manufacturing of other machines |
|
E603050 |
automatic control equipment engineering |
|
E604010 |
Machinery installation |
|
F113010 |
Wholesale of machinery |
|
F213080 |
Retail of mechanical appliance |
|
F113990 |
Wholesale of other mechanical appliance |
|
F213990 |
Retail of other mechanical appliance |
|
CA02010 |
Manufacturing of metal structures and building components |
|
CA02050 |
Manufacturing of valves |
|
CA02060 |
Manufacturing of metal containers |
|
CA02990 |
Manufacturing of other metal products |
|
F106010 |
Wholesale of hardware |
|
F206010 |
Retail of hardware |
|
CC01010 |
Manufacturing of power equipment, transmission equipment and distribution equipment |
|
CD01060 |
Manufacturing of aircraft and components |
|
CP01010 |
Manufacturing of hand tool |
|
CC01030 |
Manufacturing of electric appliance and audio-visual product |
|
CC01080 |
Manufacturing of electronic components |
|
CC01090 |
Manufacturing of battery |
|
CC01990 |
Manufacturing of other electrical machine and electro-mechanical devices |
|
E601020 |
Electric appliance installation |
|
JA02010 |
Repair of electric appliance and electronic products |
|
F113020 |
Wholesale of electric appliance |
|
F213010 |
Retail of electric appliance |
|
F119010 |
Wholesale of electronic material |
|
F219010 |
Retail of electronic material |
|
F113110 |
Wholesale of battery |
|
F213110 |
Retail of battery |
|
CE01010 |
Manufacturing of general instrument |
|
F113030 |
Wholesale of precise instrument |
|
F213040 |
Retail of precise instrument |
|
CC01110 |
Manufacturing of computer and peripheral equipment |
|
E605010 |
Computer installation |
|
I301010 |
Software service |
|
F113050 |
Wholesale of computer and office equipment |
|
F213030 |
Retail of computer and office equipment |
|
CD01030 |
Manufacturing of automobile and components |
|
CD01040 |
Manufacturing of motor and components |
|
F114010 |
Wholesale of automobile |
|
F214010 |
Retail of automobile |
|
F114030 |
Wholesale of automobile and motor components |
|
F214030 |
Retail of automobile and motor components |
|
F114990 |
Wholesale of other transportation equipment and components |
|
F214990 |
Retail of other transportation equipment and components |
|
E603040 |
Fire-fighting equipment installation engineering |
|
IF01010 |
Fire-fighting equipment maintenance |
|
F117010 |
Wholesale of fire-fighting equipment |
|
F217010 |
Retail of fire-fighting equipment |
|
F107170 |
Wholesale of industrial auxiliaries |
|
F207170 |
Retail of industrial auxiliaries |
|
F107200 |
Wholesale of chemical raw materials |
|
F207200 |
Retail of chemical raw materials |
|
F107990 |
Wholesale of other chemical products |
|
F207990 |
Retail of other chemical products |
|
F112040 |
Wholesale of petroleum product |
|
F212050 |
Retail of petroleum product |
|
F401010 |
International trade business |
|
H701010 |
Leasing and development of residence and building |
|
H701020 |
Leasing and development of industrial premises |
|
H701040 |
Development of specific area |
|
H701050 |
Public construction investment |
|
H701060 |
Development of new town and community |
|
G202010 |
Parking lot operation |
|
E603020 |
Elevator installation |
|
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 such as Taiwan, Mainland China, Japan and Europe, etc.
Subject imports technology from Japan and USA, etc.
Subject is engaged in sale of machinery.
The major products sold by subject include CNC lathe, machining center, drilling & tapping center, double column machining center, CNC horizontal boring & milling machine, CNC bed type universal milling machine, PCB routing machine, PCB drilling machine, laser drilling machine, fork lift truck and elevator.
Subject has its own brand “FEELER”.
Subject’s sales region covers all over the world.
Subject’s major customers are Methods Machine Tools Inc., Gulf Bearing, Akira Seiki USA Inc., etc
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components and raw materials |
T/T, Cash, Credit Sale, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Components and raw materials |
T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Machiner |
T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery |
L/C, T/T, 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 Mr. Xie 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 any information about bankers, and we can not obtain the
information from other source.
Mortgage
No chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
|
2009,Beijian,8659 |
|
|
Date of Trial: |
2009-6-8 |
|
Reason: |
Notes payable |
|
Claimant: |
Fair Friend Enterprise Co., Ltd. |
|
Defendant: |
Ding Sheng Construction Co., Ltd. (Literal Translation) |
|
Name |
Mr. Xie |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
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.