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Report Date : |
08.01.2014 |
IDENTIFICATION DETAILS
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Name : |
JERN YAO ENTERPRISES CO., LTD. |
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Registered Office : |
No.109, |
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Country : |
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Date of Incorporation : |
05.07.1988 |
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Com. Reg. No.: |
22965105 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Engaged in manufacturing and selling of forming machine including
bolt formers, nut formers and parts formers |
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No. of Employees : |
About 218 Employees |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.109, Shengli
Rd., Rende Dist., Tainan City 717, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-6-270-0011 |
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Fax Number: |
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Email |
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Credit Opinion: |
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Registered Name: |
Jern Yao Enterprises Co., Ltd. |
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Registered Address: |
No.109, Shengli Rd., Rende Dist., Tainan City 717, Taiwan (R.O.C.) |
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Date of Foundation: |
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Registration Number: |
|
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Registry: |
MOEA Central Office |
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Registered Capital: |
NTD 292,000,000 (USD
9,636,000) (As of 2014.01, 1 NTD = 0.0330 USD) |
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Paid-up Capital: |
NTD 292,000,000 (USD 9,636,000) |
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Legal Representatives: |
|
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Legal Form: |
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Principal Activities: |
Engaged in manufacturing and selling of forming
machine including bolt formers, nut formers and parts formers |
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Staff: |
|
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Listed at Stock
Exchange: |
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Date of Last Annual
Return: |
Subject was incorporated on 1988-7-5 with registered number 22965105 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
1,320,000 |
|
|
Dongfeng Lin |
|
|
4,280,000 |
|
|
1,280,000 |
|
|
600,000 |
|
|
360,000 |
Notes: The information above is that of subject’s
major shareholders.
Factoris
|
1 |
|
|
Address: |
No.109, Shengli Rd., Rende Dist., Tainan City 717, Taiwan (R.O.C.) |
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Date of Registration: |
2007-10-23 |
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Factory Registration Number: |
99711309 |
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Factory Manager: |
Zhengde Cai |
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Status: |
In Production |
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Date of Last Annual Return: |
2011-4-11 |
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2 |
|
|
Address: |
No. 22,
Development 4 Road, Baoan Alley, Deren District, Tainan City |
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Date of Foundation: |
1993-2-16 |
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Date of Registration: |
1993-10-6 |
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Date of closing business |
2007-10-23 |
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Factory Registration Number: |
99658001 |
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Factory Manager: |
Zhengde Cai |
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Status: |
Close business |
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Date of Last Annual Return: |
2007-10-23 |
Domestic Plant
|
Name |
Jern Yao
Machinery (Shanghai) Co., Ltd |
Agent
|
1 |
|
|
Name: |
Truform
Equipment, Inc. |
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Address: |
5656 W.120th St.
Alsip, IL60803 |
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Tel: |
+1-708-4890395 |
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Fax: |
+1-708-4890396 |
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E-Mail: |
|
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2 |
|
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Name: |
Lockson
Internationalco. |
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Address: |
No. 165 Mississaga
Street, Oakvilee, Ont. L6L 6J6, Canad |
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Tel: |
+1-905-8470777 |
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Fax: |
+1-905-8276508 |
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E-Mail: |
|
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3 |
|
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Name: |
J&J
Fasteners Com. Import. Ltda |
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Address: |
Rua Alvarenga Peixoto,
131 Vila Anastacio Sao Paulo, Brazil |
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Tel: |
+55-11-2737-0050 |
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Fax: |
+55-11-9905-9322 |
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E-Mail: |
|
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4 |
|
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Name: |
Rost Group &
Technology Co., Ltd. |
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Address: |
2F-1, 65, Hsin-Yi
Road, Sec. 3, Taipei, Taiwan |
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Tel: |
+886-2-2784-5675 |
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Fax: |
+886-2-2784-5676 |
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E-Mail: |
|
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5 |
|
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Name: |
Progressa
Machine Utensili |
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Address: |
Via Caruso 2-20133
Milano, Italy |
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Tel: |
+39-02-70000318 |
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Fax: |
+39-02-70000951 |
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E-Mail: |
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6 |
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Name: |
Osy Ltd. |
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Tel: |
+81-6-6351-8848 |
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Fax: |
+81-6-6351-8857 |
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E-Mail: |
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7 |
|
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Name: |
Hyung Sung
Corporation |
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Address: |
#3BA 727, Sihwa
Industrial Complex, Jungwang-Dong, Siheung-Si,Kyunggi-Do.Korea, 429-450 |
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Tel: |
+82-31-434-3450 |
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Fax: |
+82-31-434-3455 |
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E-Mail: |
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Core
Management
|
1 |
|
|
Name |
Zhengde Cai |
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Position |
Board Chairman |
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2 |
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|
Name |
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|
Position |
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3 |
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Name |
Zuoxiang Xu |
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Position |
Director |
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4 |
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|
Name |
Jinmei Yang |
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Position |
Director |
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5 |
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|
Name |
|
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Position |
Director |
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6 |
|
|
Fuguo Lin |
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|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 218 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.109, Shengli Rd., Rende Dist., Tainan City 717, Taiwan (R.O.C.) |
Production
Information
l
Subject is engaged in manufacturing of forming
machine.
l
Subject has factories in Taiwan and the mainland of
china for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
|
Screws, nuts manufacturing, processing and buying
and selling |
|
|
Manufacturing, processing and buying and selling
of hardware fasteners |
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Steel processing and sale |
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Hot and cold forging machine manufacturing,
processing and buying and selling |
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|
Car and motorcycle parts manufacturing,
processing and buying and selling |
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All related products import and export trade
business |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The components and raw material for production are
mostly purchased from domestic markets.
Sales
Information
l
The subject is mainly engaged in sales of forming
machine.
l
The major products sold by subject include bolt formers, nut
formers and parts formers.
l
The subject sells products around the world.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw material |
COD, etc |
100% |
Foreign Purchase
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Bolt formers, nut formers and parts formers |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Bolt formers, nut formers and parts formers |
CBD, 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 declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name |
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 |
The Operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.38 |
|
UK Pound |
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.84.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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.