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Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
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Name : |
MULTIPLAS ENGINERY CO., LTD. |
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|
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Registered Office : |
Hwa-Ya Technology Park, No.65, 7th Road, Gueisha, Taoyuan |
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|
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Country : |
Taiwan |
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Date of Incorporation : |
27.06.1988 |
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Com. Reg. No.: |
23010965 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of injection molding machine. |
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No. of Employees : |
About 160 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. In 2009, Taiwan's GDP
contracted 1.8%, due primarily to a 13.1% year-on-year decline in exports. In
2010 GDP grew 10.7%, as exports returned to the level of previous years, and in
2011, grew 4.0%. In 2012, however, growth fell to 1.3%, because of softening
global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging
population are major long-term challenges. Free trade agreements have
proliferated in East Asia over the past several years, but except for the
landmark Economic Cooperation Framework Agreement (ECFA) signed with China in
June 2010, so far Taiwan has been excluded from this greater economic
integration in part because of its diplomatic status. Negotiations continue on
such follow-on components of ECFA regarding trade in goods and services. The MA
administration has said that the ECFA will serve as a stepping stone toward
trade pacts with other key trade partners, which Taiwan subsequently launched
with Singapore and New Zealand. 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 trade surplus largely because of its surplus with China, and its
foreign reserves are the world's fifth largest, behind China, Japan, Saudi
Arabia, and Russia. 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. Three financial memorandums of
understanding, covering banking, securities, and insurance, took effect in
mid-January 2010, opening the island to greater investments from the mainland's
financial firms and institutional investors, and providing new opportunities
for Taiwan financial firms to operate in China. 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: |
Hwa-Ya Technology Park, No.65, 7th
Road, Gueisha, Taoyuan, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-3-318-0090 |
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Fax Number: |
|
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E-mail: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1988-6-27 with registered
number 23010965 as Joint Stock Company in Taiwan.
|
Subscription
Shares |
|
|
Yongjin Hu |
4,229,183 |
|
Yuejiao Weng |
1,395,719 |
|
Qiaoqin Hu |
1,429,908 |
|
Yuren Li |
495,806 |
The information
above is that of subject’s major shareholders.
Related Company:
|
1 |
|
|
Name |
|
|
Address |
Huaqiao Town,
Kunshan, Jiangsu Provice, China. |
|
Telephone Number |
+86-512-5769-9188 |
|
Fax Number |
+85-512-5771-9318 |
|
Principal Activities: |
Manufacture and sales of injection molding machine. |
Agents:
|
1 |
|
|
Name |
Taipei
Industries Pte. Ltd. |
|
Address |
2 Kallang
Pudding Road, #02-15 Mactech Industrial Building Singapore 349307 |
|
2 |
|
|
Name |
Pt. Plastech
Dinamika |
|
Address |
Kompl. Duta Merlin
Blok, F 8-9-10,Jl. Gajah Mada No. 3-5,Jakarta 10130, Indonesia. |
|
3 |
|
|
Name |
Senur Plastik
Sistemleri |
|
Address |
Akcaburgaz
Mahallesi. 2. Cadde. No:26 Kat: 3 Esenyurt / Istanbul-Turkey |
|
4 |
|
|
Name |
Plastech &
Co. |
|
Address |
8/1 Apun Street
Upper Yokneam 20692, Israel |
|
5 |
|
|
Name |
Imex Italia Srl |
|
Address |
Via T. A.
Edison, 13 37029 San Pietro in Cariano (VR) / Italy |
|
6 |
|
|
Name |
New Pacific
Machinery, Inc. |
|
Address |
1264, Hay 45,By-Pass,P.O.Box
467, Trenton, Tennessee 38382,USA. |
Factory In Taiwan
|
Name: |
Guishan Factory |
|
Address: |
1/2F, No. 65, 7
Science And Technology Road, Cultural Village, Guishan Township, Taoyuan
County, Taiwan. |
|
Date of Registration: |
2002-2-5 |
|
Factory Registration Number: |
99623189 |
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Factory Manager: |
|
|
Status: |
In Production |
|
Date of Last Annual Return: |
2002-2-5 |
Core
Management
|
1 |
|
|
Name |
Yongjin Hu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yuejiao Weng |
|
Position |
Director |
|
3 |
|
|
Name |
Qiaoqin Hu |
|
Position |
Director |
|
4 |
|
|
Name |
Yuren Li |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 160 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Hwa-Ya Technology Park, No.65, 7thRoad, Gueisha, Taoyuan, Taiwan,
R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of injection molding machine.
l
Subject has 2 factories in Taiwan and Mainland
China for production.
l
Subject obtained the certification of ISO 9002.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing processing and sales business of
the mould hydraulic machinery precision industrial components. |
|
-- |
Manufacturing business of plastic machinery,
rubber machinery. |
|
-- |
Import and export trade business of related
product above. |
|
-- |
The relevant domestic and foreign manufacturers
of products agency tender offer, distribute. |
|
CC01080 |
Manufacturing business of electronic components. |
|
C805050 |
Manufacturing business of industrial plastic
products |
|
F119010 |
Wholesale trade of electronic material |
l
The components and raw materials for production are
purchased from both home and abroad.
l
The
subject is mainly engaged in sales of injection
molding machine.
l
The
major products sold by subject include Vertical Type, Horizontal Type,
Thermoset, Liquid silicone rubber, Automatic Production System, Customization.
l
The
products are applied in the industries of electrical, automotive, medical and
optical, etc.
l
The subject sales regions include Asia, Europe,
America, etc.
l
Subject
has its own brand “Multiplas”.
l
Subject’s
main customers include “Amp”, “Siemens”, “Panasonic”, “Molex”, etc.
Major products
sold
|
Type |
Product |
|
|
General Purpose for Single-component |
Vertical Type |
Horizontal Type |
|
General Purpose for Multi-component or
Multi-color |
Vertical Type |
Horizontal Type |
|
Special Purpose |
Thermoset (bmc, rubber etc.) Liquid silicone rubber (lsr) Automatic Production System Customization |
|
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components And
Raw Materials |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Components And
Raw Materials |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Machinery |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery |
L/C, 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. David 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. David |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.50 |
|
|
1 |
Rs. 101.91 |
|
Euro |
1 |
Rs. 84.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.