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Report Date : |
09.12.2014 |
IDENTIFICATION DETAILS
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Name : |
WELE MECHATRONIC CO., LTD. |
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Registered Office : |
No.458, |
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Country : |
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Date of Incorporation : |
11.06.2007 |
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Com. Reg. No.: |
28733315 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale
of machines |
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No. of Employees : |
250 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.458, Sinsing Rd., Hukou Township, Hsinchu County 303, Taiwan
(R.O.C.) |
|
Supplied Address: |
Headquarters 458, Shinsing Roadhukou Town Hsin Chu Country 303 |
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Telephone Number: |
+886-3-696-0360 |
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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.
|
Registered Name: |
WELE MECHATRONIC CO., LTD. |
|
Registered
Address: |
No.458, Sinsing
Rd., Hukou Township, Hsinchu County 303, Taiwan (R.O.C.) |
|
Date of
Foundation: |
2007-6-11 |
|
Registration
Number: |
28733315 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs, R.O.C. |
|
Registered
Capital: |
NTD 700,000,000 (USD 23,800,000) (As of 2014.12, 1
NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 693,000,000
(USD 23,562,000) |
|
Legal
Representatives: |
Yongchang Guan |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 2007-6-11 with registered number 28733315 as Joint Stock Company in Taiwan.
Factories
|
1 |
|
|
Address: |
No.356, Sanfeng Road, Houli District, Taichung City 42152, Taiwan |
|
Date of Registration: |
2012-12-11 |
|
Factory Registration Number: |
93A00122 |
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Factory Manager: |
Yongchang Guan |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2012-12-11 |
|
Major Products: |
291 metal processing machines 292 other special-purpose mechanical device 293 general machinery |
|
2 |
|
|
Address: |
No.458, Sinsing Rd., Hukou Township, Hsinchu County 303, Taiwan (R.O.C.) |
|
Date of Registration: |
2008-2-18 |
|
Factory Registration Number: |
99700476 |
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Factory Manager: |
Yongchang Guan |
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Status: |
In Production |
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Date of Last
Annual Return: |
2008-2-18 |
|
Major Products: |
291 metal processing machines 292 other special-purpose mechanical device 293 general machinery |
Branch
|
Name |
Wele Mechatronic Co., Ltd. CTSP Branch |
|
Address |
No.356, Sanfeng Road, Houli District, Taichung City 42152, Taiwan |
|
Registration Number |
29182839 |
|
Date of Registration |
2012-10-4 |
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Status |
Live |
|
Manager Name |
Yongchang Guan |
|
Date of Last Annual Return |
-- |
Related Company
|
Registered Name: |
Wele Mechatronic
(Suzhou) Co., Ltd. (Literal Translation) |
|
Registered
Address: |
Bldg 8, Maqiao
Industrial Area, Economic Development Zone, Changshu, Jiangsu Province, China |
|
Date of
Foundation: |
2008-5-29 |
|
Registration
Number: |
320581400009238 |
|
Registry: |
Industry and
Commerce Administration of Changshu, Suzhou City |
|
Registered
Capital: |
CNY 15,000,000 |
|
Legal
Representatives: |
Jintian Su |
|
Legal Form: |
Limited Liabilities Company |
Major Shareholders
|
Name |
Subscription Shares |
|
Weili Investment Co.,
Ltd. (Literal Translation) |
|
|
11,000,000 |
|
|
Jtekt Corporation |
25,200,000 |
|
Jiantian Su |
1,109,000 |
|
Jinyuan Li |
954,000 |
|
Jinshu Peng |
1,194,000 |
Core Management
Directors
|
1 |
||
|
Name |
Yongchang Guan |
|
|
Position |
Board Chairman & Manager |
|
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Appointment Date of Manager |
2010-5-28 |
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|
2 |
||
|
Name |
Okayasu Takao |
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Position |
Director |
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3 |
||
|
Name |
Nishida Zirou |
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Position |
Director |
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4 |
||
|
Name |
Jiantian Su |
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Position |
Director |
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5 |
||
|
Name |
Jinyuan Li |
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Position |
Director |
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|
6 |
||
|
Name |
Jinyuan Li |
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Position |
Supervisor |
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|
7 |
||
|
Name |
Uetake Shinzi |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 250 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.458, Sinsing Rd., Hukou Township, Hsinchu County 303, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of machines, etc.
Subject has factories in Taiwan for production.
Subject obtained the certifications of ISO 9001 and ISO 14001.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of mechanical equipment |
|
CC01110 |
Manufacturing of computer and peripheral equipment |
|
I501010 |
Product design |
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F113010 |
Wholesale of machines |
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F213080 |
Retail of mechanical appliance |
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F401010 |
International trade business |
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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 and Japan, etc.
Subject is engaged in sale of machines, etc.
Subject’s major products include vertical machining centers, horizontal machining centers, CNC gantry machining centers, five surface machining centers and five-axis machining center, etc.
Subject has its own brand “WELE”
Subject’s sales region covers all over the world.
One of subject’s major customers is Toyoda Machinery USA Corporation.
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Components and raw materials |
|
Payment Terms |
Cash, T/T, etc |
Import
|
Products |
Components and raw materials |
|
Payment Terms |
T/T, etc |
Sales
Domestic Markets
|
Product |
Machines, etc |
|
Selling Terms |
Cash, T/T, etc |
Export
|
Product |
Machines, etc |
|
Selling 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. Yang declined to disclose its financials citing the grounds of
company’s confidentiality; from other sources we could not obtain such
information, either.
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
|
1 |
|
|
Trial Number: |
2011,bu,23 |
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Date of Trial: |
2011-1-10 |
|
Reason: |
Compensation for
damages |
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Claimant: |
Evergreen Marine Corp.
Ltd |
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Defendant: |
Wele Mechatronic
Co., Ltd. |
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2 |
|
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Trial Number: |
2011,su,484 |
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Date of Trial: |
2012-5-18 |
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Reason: |
Compensation for
damages |
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Claimant: |
Evergreen Marine
Corp. Ltd |
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Defendant: |
Wele Mechatronic
Co., Ltd. |
Interview Details
|
Name |
Mr. Yang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
|
1 |
Rs.96.37 |
|
Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
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|
Report Prepared
by : |
NIS |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.