|
Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRUSTWELL
INDUSTRIAL LIMITED |
|
|
|
|
Registered Office : |
No.11, 31th Rd., Industrial Park, Hsi Tun
Dist., Taichung City |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
08.12.1988 |
|
|
|
|
Com. Reg. No.: |
23107721 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
· Engaged in processing and sales of all kinds of filters and industrial meshes · Engaged in manufacturing, processing and sales of printing plate making machinery and related materials · Engaged in manufacturing, processing and sales all kinds of filtration equipment · Engaged in manufacturing, processing and sales all kinds of conveyer belts · Engaged in manufacturing, processing and sales all kinds of information processing machines and information cards · Subject products ranges include Filtration Mesh, Drying Mesh, Belt, PTFE Mesh Fabric Tape and Silcon Fabric |
|
|
|
|
No of Employees : |
About 30 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.11, 31th Rd.,
Industrial Park, Hsi Tun Dist., Taichung City, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-4-2359-5868 |
|
Fax Number: |
+886-4-2359-5878 |
|
E-mail: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Trustwell Industrial Limited |
|
Registered Address: |
No.11, 31th Rd.,
Industrial Park, Hsi Tun Dist., Taichung City, Taiwan, R.O.C. |
|
Date of Foundation: |
1988-12-8 |
|
Registration Number: |
23107721 |
|
Registry: |
Taichung City Government |
|
Registered Capital: |
NTD 25,000,000
(USD 850,000) (As of 2014.07, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 25,000,000 (USD 850,000) |
|
Legal Representatives: |
Weilun Cai |
|
Legal Form: |
|
|
Principal Activities: |
Processing
and sales of all kinds of filters and industrial meshes |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1988-12-8 with registered number 23107721 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Weilun Cai |
8,578 |
|
Pingfeng Zhang |
|
|
650 |
|
|
Juqian Wu |
4,000 |
|
Weijie Cai |
2,000 |
The information above is that of subject’s major shareholders.
|
Address: |
No.11, 31th Rd., Industrial Park, Hsi Tun Dist., Taichung
City, Taiwan, R.O.C. |
|
Date of Foundation: |
1991-12-6 |
|
Date of Registration: |
1993-7-26 |
|
Factory Registration Number: |
99669040 |
|
Factory Manager: |
Weilun Cai |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2006-11-1 |
|
Major Products: |
161
printing and auxiliary equipment 293 general machinery |
Major Related Companies
|
1 |
||
|
Name |
Myluat Trade Co., Ltd |
|
|
Date of Foundation: |
June 2000 |
|
|
Address |
Hochiminh City, Vietnam |
|
|
Principal Activities: |
Extended filtration and industrial mesh sales and service to foreign
customers |
|
|
2 |
||
|
Registered Name: |
Trustwell Printing Equipment Inc. |
|
|
Registered Address: |
No.11, 31st Rd., Industrial Park, Taichung
City 40768, Taiwan, R.O.C. |
|
|
Date of Foundation: |
1979-7-17 |
|
|
Registration Number: |
52530515 |
|
|
Registered Capital: |
NTD 7,100,000 (USD 241,400) (As of 2014.07, 1 NTD = 0.0340 USD) |
|
|
Paid-up Capital: |
NTD 7,100,000 (USD 241,400) |
|
|
Legal Representatives: |
Weilun Cai |
|
|
Legal Form: |
Joint Stock Company |
|
|
Date of Last Annual Return: |
2011-10-26 |
|
|
Principal Activities: |
Trading of print equipments and materials,
etc |
|
|
3 |
||
|
Name: |
Trustwell Neotechnology Co., Ltd. |
|
|
Address: |
Room #A13, 4/F., No. 67, Chang-an East Road,
Sec. 2, Taipei, Taiwan |
|
|
Telephone Number: |
+886-2-2518-2297 |
|
|
Fax Number: |
+886-2-2518-2296 |
|
Core Management
|
1 |
|
|
Name |
Weilun Cai |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Pingfeng Zhang |
|
Position |
Director |
|
3 |
|
|
Name |
Juqian Wu |
|
Position |
Director |
|
4 |
|
|
Name |
Weijie Cai |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 30 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.11, 31th Rd., Industrial Park, Hsi Tun Dist.,
Taichung City, Taiwan, R.O.C. |
Production
Information
l Subject is engaged in processing of filters and
industrial meshes
l Subject has a factory in Taichung, Taiwan for
processing products.
Purchase
Information
l
The registered activities of subject:
|
1 |
Manufacturing, processing and sales of
printing plate making machinery and related materials |
|
2 |
Manufacturing, processing and sales all
kinds of filtration equipment |
|
3 |
Manufacturing, processing and sales all
kinds of conveyer belts |
|
4 |
Manufacturing, processing and sales all
kinds of information processing machines and information cards |
|
5 |
Manufacturing, processing and sales all
kinds of sticky labels, laser anti counterfeit trademarks, laser billboards |
|
6 |
Manufacturing, processing and sales all
kinds of packaging materials, cushion packaging materials, raw materials and
machinery |
|
7 |
Import and export of above items |
|
8 |
As an agent assists in developing quoting,
bidding and distributing about home and abroad companies’ products |
l Subject
purchases products from domestic market, Japan, USA and Europe, etc.
l Subject
is engaged in sale all kinds of filters
and industrial meshes,
l
Subject’s
major products include filtration mesh, drying mesh, belt, PTFE mesh fabric
tape and silcon fabric
l
The products are applied to the
industries food, clothing, living and transportation, etc.
l
Subject’s sales region focuses on Asian
market.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Meshes
and raw materials, etc |
T/T,
Cash, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Meshes
and raw materials, etc |
L/C,
T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Filters and meshes, etc |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Filters and meshes, 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 Mr. Cai 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 any information about bankers, and we can not obtain the information
from other source.
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. Cai |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.97 |
|
UK Pound |
1 |
Rs.102.89 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
|
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.