|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
HUARONG PLASTIC MACHINERY CO., LTD. |
|
|
|
|
Formerly Known As : |
HUARONG MACHINERY CORP. |
|
|
|
|
Registered Office : |
No.37-1, Shalun, Jhonglun, Anding Dist., |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
02.08.1996 |
|
|
|
|
Com. Reg. No.: |
97079523 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of Injection Molding
Machine. |
|
|
|
|
No. of Employees : |
About 50 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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: |
|
|
Former Name: |
Huarong Machinery Corp. |
|
Supplied Name: |
|
|
Trading Address: |
No.37-1, Shalun, Jhonglun, Anding
Dist., Tainan City, Taiwan (R.O.C.) |
|
Supplied Address: |
NO. 37-1 SHALUN
JHONGLUN, ANDING VILLAGE, TAINAN COUNTY, TAIWAN |
|
Telephone Number: |
+886-6-593-9888 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1996-8-2 with registered number 97079523
as Joint Stock Company in
Taiwan.
|
Former English Name |
Huarong Machinery Corp. |
|
Current English Name |
Huarong Plastic Machinery Co., Ltd. |
Factory
|
Address: |
No.37-1, Shalun, Jhonglun, Anding Dist., Tainan City, Taiwan (R.O.C.) |
|
Date of Registration: |
2003-8-23 |
|
Factory Registration Number: |
99684231 |
|
Factory Manager: |
Dongbin Xiao |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2006-7-18 |
|
Major Products: |
292 other special purpose machinery 275 measuration, navigation and controlled
equipment, clock 293 general machinery 251 metal hand tool and mould |
Branch
|
Name |
An Ding Branch |
|
Address |
No.7, Shalun Sa, Zhongsha
Village, An-Ding District, Tainan City, Taiwan |
|
Registration Number |
80098455 |
|
Date of Registration |
2002-12-11 |
|
Status |
Live Company |
|
Manager Name |
Dongbin Xiao |
|
Date of Last Annual Return |
-- |
Related Company
|
Name |
Wuxi Huarong Digital
Control Machinery Co., Ltd. (Translated) |
|
Address |
Yizhuang Yuan Road, Yixing
Guanlin Town, Wuxi City, Jiangsu Province, China |
|
Telephone Number |
+86-510-8720-7622 |
|
Fax Number |
+86-510-8720-7619 |
|
Date of Registration: |
2006-3-8 |
|
Registration Number: |
320282400003626 |
|
Registry: |
Wuxi Yixing Industry
and Commerce Administration |
|
Registered Capital: |
CNY 5,000,000 |
|
Legal Representatives: |
Dongbin Xiao |
|
Legal Form: |
Limited Liabilities Company |
Major Shareholders
|
Name |
Subscription Shares |
|
Dongbin Xiao |
15,750 |
|
Lanmei Ye |
|
|
10,710 |
|
|
Raorui Xiao |
6,930 |
|
Lihua Li |
8,835 |
Core Management
Directors
|
1 |
|
|
Name |
Dongbin Xiao |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Lanmei Ye |
|
Position |
Director |
|
3 |
|
|
Name |
Raorui Xiao |
|
Position |
Director |
|
4 |
|
|
Name |
Lihua Li |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 50 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.37-1, Shalun, Jhonglun,
Anding Dist., Tainan
City, Taiwan (R.O.C.) |
Production
Information
· Subject is engaged in manufacturing of injection molding machine
Subject obtained the certification of ISO
9001:2000 and CE.
It
is introduced that subject has a factory in Taiwan for production.
Purchase
Information
· The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
|
F113010 |
Wholesale of machinery |
|
F213080 |
Retail of machinery |
|
F113990 |
Wholesale of other mechanical appliance |
|
F213990 |
Retail of mechanical appliance |
|
C805030 |
Manufacturing of plastic daily necessities |
|
C805050 |
Manufacturing of industrial plastic products |
|
F401010 |
International trade business |
|
CB01990 |
Manufacturing of other machinery |
|
CE01990 |
Manufacturing of other optical and precision instruments |
|
E604010 |
Installation of machinery |
|
F113030 |
Wholesale of precise instrument |
|
F213040 |
Retail of precise instrument |
|
I501010 |
Product design |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
· The components for production are purchased from both home and abroad.
One
of subject’s major foreign suppliers is Yuken Kogyo Co., Ltd (Japan).
· Subject is engaged in sales of injection molding machine, etc.
It
is introduced that subject has agents in Mainland China, Canada and Mexico.
Subject’s
sales regions include Asia, Europe, Canada, USA, and Mexico, etc.
Subject’s
major customers include Universal Moulding Lt and Minda Valeo Security Systems
Private Limited, etc.
Major products
|
Type |
Product |
|
Horizontal Injection |
Series Injection Molding Machine Servo Hydraulic Injection Molding Machine Large Width Injection Molding Machine Two Platen Injection Molding Machine Servo Hydraulic For Application Of Medical Parts Accumulator High-Speed Injection Molding Machine Thermosetting Bakelite Injection Molding Machine Co Injection Molding Machine In Mold Labeling Injection Molding Machine PET Perform Injection Molding Machine Rigid Injection Molding Machine Bulk Moulding Compound Injection Molding
Machine |
|
Vertical Injection |
Vertical Clamping Vertical Injection Vertical Clamping Horizontal Injection |
|
Machine Center |
Linear Guide Way Box Guide Way |
|
Other Models |
Bit Making Machine Special Machine For Making PE Tube Fittings Horizontal Closed-Vertical Injection Molding Machine Rubber Injection Machine Hot Press |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase (Taiwan and Mainland, China)
|
Product |
Components, etc |
|
Payment Terms |
Cash, T/T, etc |
|
Product |
Components,
facilities, etc |
|
Payment Terms |
T/T, etc |
SALES
Domestic
Markets (Taiwan and Mainland, China)
|
Product |
Machines, etc |
|
Payment Terms |
Cash, T/T, etc |
Export
|
Machines, etc |
|
|
Payment Terms |
L/C, T/T, etc |
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 Mr. Li 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
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 |
Mr. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.