.
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Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
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Name : |
JOEMARS MACHINERY & ELECTRIC INDUSTRIAL CO., LTD. |
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Registered Office : |
No.66, Ln. 124, Sec. 1, Youyuan Rd., Dadu Dist., Taichung City 432 |
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Country : |
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Date of Incorporation : |
25.07.1989 |
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Com. Reg. No.: |
23397051 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of electric discharge machines |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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.66, Ln. 124, Sec. 1, Youyuan Rd., Dadu Dist., Taichung City 432, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-4-2691-7566 |
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Fax Number: |
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E-mail: |
Notes: The exact
name and address are as above.
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Registered Name: |
Joemars Machinery & Electric Industrial Co., Ltd. |
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Registered Address: |
No.66, Ln. 124, Sec. 1, Youyuan Rd., Dadu Dist., Taichung City 432, Taiwan (R.O.C.) |
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Date of Foundation: |
1989-7-25 |
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Registration Number: |
23397051 |
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Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2014.01, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 17,200,000 (USD 584,800) |
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Legal Representatives: |
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Legal Form: |
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Principal Activities: |
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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 1989-7-25 with registered number 23397051 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Shunyuan Chen |
2,660 |
|
Wansheng Lin |
|
|
700 |
|
|
Rizhong Liao |
440 |
|
Hongjun Ke |
1,680 |
The information above is that of subject’s major shareholders.
Office in Mainland China
|
Name: |
Yuyao Office |
|
Address: |
No. 900, Jin Mao Road, Zhou Shi Town, Kunshan City, Jiangsu Province, China |
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Tel: |
+86-574-6263-4358 |
Subsidiaries
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1 |
|
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Name: |
Kunshan Joemars Precision Machinery Co., Ltd. |
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Address: |
No. 900, Jin Mao Road, Zhou Shi Town, Kunshan City, Jiangsu Province, China |
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Tel: |
+86-512 -5766-7551 |
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Fax: |
+86-512-5766-7581 |
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Date of Foundation: |
2001-2-13 |
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Registration Number: |
320583400029844 |
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Registry: |
Industry and Commerce Administration of Kunshan City, Jiangsu Province |
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Registered Capital: |
CNY 2,100,000 |
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Legal Representatives: |
Lizhu Lin |
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Legal Form: |
Limited Liability Company |
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Date of Last Annual Return: |
2013-11-26 |
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Term of Operation: |
From 2001-2-13 to 2051-02-12 |
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2 |
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Name: |
Changzhou Joemars Industrial Automation Co., Ltd. |
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Address: |
No. 678, Xinchang Road, Xinzha Township, Changzhou City, Jiangsu Province, China |
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Tel: |
+86-519-8326-2666 |
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Fax: |
+86-519-8326-0831 |
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Date of Foundation: |
1997-8-19 |
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Registration Number: |
320400400003944 |
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Registry: |
Industry and Commerce Administration of Changzhou City, Jiangsu Province |
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Registered Capital: |
CNY 150,000 |
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Legal Representatives: |
Lizhu Lin |
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Legal Form: |
Limited Liability Company |
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Date of Last Annual Return: |
2013-5-7 |
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Term of Operation: |
From 1997-8-19 to 2017-8-18 |
Core Management
Directors
|
1 |
|
|
Name |
Shunyuan Chen |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Wansheng Lin |
|
Position |
Director |
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3 |
|
|
Name |
Rizhong Liao |
|
Position |
Director |
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4 |
|
|
Name |
Hongjun Ke |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 50 Employees (Taiwan) |
Offices & Factories
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|
Headquarters |
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Add |
No.66, Ln. 124, Sec. 1, Youyuan Rd., Dadu Dist., Taichung City 432, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of electric discharge machine, etc.
It is introduced that subject has factories in Taiwan and Mainland China for production.
It is introduced that the area of subject’s Taiwan factory is about 8,000 square meters and the area of subject’s Kunshan factory is about 30,000 square meters.
Subject obtained the certification of ISO 9001.
Purchase Information
The registered activities of subject:
|
1 |
Manufacturing, processing and sale of all kinds of electrical machinery, numerical control machinery and electro discharge machining molding machine |
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2 |
Manufacturing, installation and sale of mechanical and electrical automatic control equipment |
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3 |
Sale of above mentioned raw materials |
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4 |
Import and export business |
The components and raw materials for production are purchased from both home and abroad such as Taiwan domestic market, Japan and UK, etc.
Subject is engaged in sale of electric discharge machine, etc.
The major products sold by subject include wire-cut electric discharge machine, super drill electric discharge machine, CNC electric discharge machine, portable electric discharge machine and broken tap remover, etc.
Subject’s sales regions include Asia, Europe and America, etc.
One of subject’s major customers is Herramientas Tecnicas S.A.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
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Raw materials and components |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
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Raw materials and components |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
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Machines, etc |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
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Machines, 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. Chen 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. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.99 |
|
|
1 |
Rs.104.61 |
|
Euro |
1 |
Rs.86.17 |
INFORMATION DETAILS
|
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 |
-- |
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.