|
Report Date : |
18.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TEKTRO TECHNOLOGY CORPORATION |
|
|
|
|
Registered Office : |
No.138, Minjhu St., Heming Village,
Sioushuei Township, Changhua County 50442 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
17.06.1986 |
|
|
|
|
Com. Reg. No.: |
22207032 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer and seller of bicycle
components |
|
|
|
|
No of Employees : |
About 400 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 |
|
|
|
|
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 – 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 |
|
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: |
Tektro Technology Corporation |
|
Supplied Name: |
Tektro Technology Corporation |
|
Trading Address: |
No.138, Minjhu St., Heming Village, Sioushuei Township, Changhua County
50442, Taiwan (R.O.C.) |
|
Supplied Address: |
138 Minjhu st, Hemming Village Siod Huei Hsiang Changhua County |
|
Telephone Number: |
+886-4-768-3999 |
|
Fax Number: |
+886-4-769-9633 |
|
E-mail: |
The exact name and address are as above.
|
Registered Name: |
Tektro Technology Corporation |
|
Registered Address: |
No.138, Minjhu St., Heming Village, Sioushuei Township, Changhua County
50442, Taiwan (R.O.C.) |
|
Date of Foundation: |
1986-6-17 |
|
Registration Number: |
22207032 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 736,000,000 (USD
25,024,000) (As of 2014.01, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 736,000,000 (USD 25,024,000) |
|
Legal Representatives: |
Zemin Chen |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on
1986-6-17 with registered number 22207032 as Joint Stock
Company in Taiwan.
|
Name |
Subscription Shares |
|
Zemin Chen |
4,915,929 |
| Cifang
Cai |
4,915,929 |
|
Yonghuang Chen |
4,915,929 |
|
Wenliang Zeng |
2,661,937 |
The information
above is that of subject’s major shareholders.
|
1 |
|
|
Address: |
No.138-1, Minjhu St., Heming Village, Sioushuei
Township, Changhua County 50442, Taiwan (R.O.C.) |
|
Date of Registration: |
2008-10-30 |
|
Factory Registration Number: |
99680806 |
|
Factory Manager: |
Zemin
Chen |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
2012-3-30 |
|
Major Products: |
254
metal processing 312 motor and spare
parts 313 bicycle and
spare parts |
|
2 |
|
|
Name: |
The 2nd Factory |
|
Address: |
No.138, Minjhu St., Heming Village, Sioushuei
Township, Changhua County 50442, Taiwan (R.O.C.) |
|
Date of Registration: |
2012-1-11 |
|
Factory Registration Number: |
07000408 |
|
Factory Manager: |
Zemin
Chen |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
2012-1-11 |
|
Major Products: |
254
metal processing |
RELATED COMPANIES
|
1 |
|
|
|
Registered Name (in English): |
Terex Metal (S.Z.) Co., Ltd. |
|
|
Registered Address: |
Bldg 7, Yuanshan Industrial Village, Shangcun Community, Gongming
Office, Guangming District, Shenzhen City, Guangdong Province, China |
|
|
Tel: |
+86-755-27104885 |
|
|
Fax: |
+86-755-27107972 |
|
|
Date of Foundation: |
2000-3-16 |
|
|
Registration Number: |
440301503378413 |
|
|
Registered Capital: |
USD 3,550,000 |
|
|
Paid-up Capital: |
USD 3,550,000 |
|
|
Legal Representatives: |
Cifang Cai |
|
|
Legal Form: |
Exclusively Foreign-Owned Enterprise |
|
|
Operation
Period: |
From 2000-3-16 to 2050-3-16 |
|
|
Principal Activities: |
Manufacturing and sale of bicycle components |
|
|
Staff: |
About 370 Employees |
|
|
No |
||
|
Date of Last
Annual Return: |
2012-9-7 |
|
|
2 |
|
|
|
Registered Name (in English): |
Tektro (W.X.) Technology Co., Ltd. |
|
|
Registered Address: |
Foreign Merchant Industrial Park, Xishan Economic Development Zone,
Wuxi City, Jiangsu Province, China |
|
|
Tel: |
+86-510-8826-6866 |
|
|
Fax: |
+86-510-8826-2588 |
|
|
Date of Foundation: |
2001-3-9 |
|
|
Registration Number: |
320200400009298 |
|
|
Registered Capital: |
CNY 3,800,000 |
|
|
Legal Representatives: |
Yonghuang Chen |
|
|
Operation
Period: |
From 2001-3-9 to 2051-3-8 |
|
|
Principal Activities: |
Manufacturing and sale of bicycle components |
|
|
Listed at Stock
Exchange: |
No |
|
|
Date of Last Annual Return: |
2012-7-2 |
|
CORE MANAGEMENT
DIRECTORS
|
1 |
|
|
Name |
Zemin Chen |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Cifang Cai |
|
Position |
Director |
|
3 |
|
|
Name |
Yonghuang Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Wenliang Zeng |
|
Position |
Supervisor |
|
Total Employees |
About
400 Employees |
OFFICES & FACTORIES
|
|
Headquarters |
|
Add |
No.138, Minjhu St., Heming Village, Sioushuei Township, Changhua County
50442, Taiwan (R.O.C.) |
l
Subject is engaged in
manufacturing of bicycle
components, etc.
l
Subject has factories
in Changhua County, Taiwan for production.
l
The registered
activities of subject:
|
Business Code |
Details |
|
CD01030 |
Manufacturing of
automobile and spare parts |
|
CD01040 |
Manufacturing of
motor and spare parts |
|
CD01050 |
Manufacturing of
bicycle and spare parts |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
The raw materials such
as carbon fiber, titanium and aluminum for production are mostly purchased in
domestic market.
l
Subject is engaged in sale of bicycle
components, etc.
l
The major products sold by subject
include brake, lever, brake pads and other accessories, etc.
l
Subject has their own brand “TEKTRO”.
l
Subject’s sales regions include
domestic market, Germany and USA, etc.
l
One of subject’s major customers is
Cycling Sports Group Inc.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Raw materials, etc |
Cash, T/T, etc |
100% |
Foreign
Purchase
Subject has little
import.
SALES
Domestic
Markets
|
Terms |
Proportion |
|
|
Bicycle components, etc |
Cash, T/T, etc |
Export
|
Terms |
Proportion |
|
|
Bicycle components, etc |
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 Ms. Zhang 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 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 |
Ms. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.35 |
|
|
1 |
Rs. 100.21 |
|
Euro |
1 |
Rs. 83.52 |
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 |
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.