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Report Date : |
07.07.2014 |
IDENTIFICATION DETAILS
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Name : |
CHUM POWER
MACHINERY CORPORATION |
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Registered Office : |
No.688-1, Sec. 3, |
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Country : |
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Date of Incorporation : |
20.11.1981 |
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Com. Reg. No.: |
97532545 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Engaged in manufacturing and sale of Stretch Blow Molding Machine including Stretch Blow Molding Machines, Keyless Chucks, Bottle Blowing Molds, Golf Carts, Electric Motorcycles & Engine Boosting Bicycles |
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No of Employees : |
About 270 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – 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.
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Source : CIA |
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Company Name: |
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|
Supplied Name: |
|
|
Trading Address: |
No.688-1, Sec. 3,
Zhongshan Rd., Wuri Dist., Taichung City 414, Taiwan (R.O.C.) |
|
Supplied Address: |
NO. 688-1
SECTION 3, ZHONG SHAN ROAD WURI TOWNSHIP TAICHUNG COUNTRY |
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Telephone Number: |
+886-4-2338-8289 |
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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 1981-11-20 with registered number 97532545 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Wenyong Yang |
2,396,870 |
|
Shumin Li |
|
|
1,130,170 |
|
|
Qingbin Wang |
732,889 |
|
Huairong Pan |
255,613 |
|
Shulin Xie |
718,519 |
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Fuxin Investment Co., Ltd. (Literal
Translation) |
7,824,619 |
The information above
is that of subject’s major shareholders.
Shareholder
Information:
|
Registered Name: |
Fuxin Investment Co., Ltd. (Literal Translation) |
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Registered Address: |
3F., No.259, Sec. 2, Xinren Rd., Dali Dist.,
Taichung City, Taiwan (R.O.C.) |
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Date of Foundation: |
2005-7-22 |
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Registration Number: |
27850433 |
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Registry: |
Taichung City Government |
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Registered Capital: |
NTD 3,000,000 (USD 99,300) (As of 2014.07, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 3,000,000 (USD 99,300) |
|
Legal Representatives: |
Sese Lin |
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Legal Form: |
Joint Stock Company |
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Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-9-13 |
Factory
|
Address: |
No. 688-1, Sec. 3, Zhongshan Rd., Rongquan Li, Wuri Dist., Taichung
City, Taiwan |
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Date of Registration: |
2010-6-21 |
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Factory Registration Number: |
99713715 |
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Factory Manager: |
Wenyong Yang |
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Status: |
In Production |
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Date of Last Annual Return: |
2013-11-27 |
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Major Products: |
251 Metal hand
tools and molds 281 Electricity
generation and transmission power machinery 292 Other
special mechanical equipment 303 Car parts 319 Unclassified other means of transport and its parts |
Core Management
|
1 |
|
|
Name |
Wenyong Yang |
|
Position |
Chairman of the Board |
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2 |
|
|
Name |
Shumin Li |
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Position |
Director |
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3 |
|
|
Name |
Qingbin Wang |
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Position |
Director |
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4 |
|
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Name |
Huairong Pan |
|
Position |
Director |
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5 |
|
|
Name |
Shulin Xie |
|
Position |
Director |
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6 |
|
|
Name |
Yikai Liao |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 270 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No. 688-1, Sec. 3, Zhongshan Rd., Rongquan Li, Wuri Dist., Taichung
City, Taiwan |
Production
Information
l
Subject is engaged in manufacturing of stretch blow molding machine
l
Subject has a factory in Taiwan for production.
l
Subject obtained the certification of ISO 9001 and
ISO 9002.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C805010 |
Plastic leather, cloth, plate, pipe
manufacturing |
|
C805030 |
Plastic daily necessities manufacturing |
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CA01100 |
Aluminum rolling delay type wire drawing
crowded industry |
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CB01990 |
Other machinery manufacturing |
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CC01010 |
Electricity generation and transmission
distribution machinery manufacturing |
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CD01030 |
Automobile and parts manufacturing |
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CD01040 |
The locomotive and its parts manufacturing |
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CD01050 |
Bicycle and parts manufacturing |
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CD01990 |
Other means of transport and its parts
manufacturing |
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CE01030 |
Optical instrument manufacturing |
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CH01030 |
Stationery manufacturing |
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CP01010 |
Hand tools manufacturing |
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CQ01010 |
Molds die-making industry |
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I199990 |
Other advisory services |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
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F401010 |
The international trade |
l
The components and raw materials for production are
both purchased at home and abroad.
l
Subject is engaged in sale
of stretch blow molding machine
l
The major products sold
by subject include stretch blow molding machines, keyless chucks, bottle
blowing molds, golf carts, electric motorcycles & engine boosting bicycles
l
Subject’s sales regions include domestic market,
Japan, Korea, Singapore, Southeast Asia, US, North America, South America,
Europe, Africa, etc.
l
Subject’s major customers are Apex Tool Group and
Imocom S.A, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components
and raw materials, etc. |
T/T,
Cash, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Components
and raw materials, etc. |
L/C,
T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Stretch blow molding machine, etc. |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Stretch blow molding machine, 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. Li 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
|
Trial Number: |
96, zhongjian, 1623 |
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Date of Trial: |
2007-5-31 |
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Reason: |
Return the consideration |
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Claimant: |
Peiming Enterprise Co., Ltd.
(Literal Translation) |
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Defendant: |
Chum Power Machinery Corporation Huanglin Food Enterprise Co.,
Ltd. (Literal Translation) |
|
2 |
|
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Trial Number: |
96, zhongjian, 1276 |
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Date of Trial: |
2007-12-6 |
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Reason: |
Return the consideration |
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Claimant: |
Peiming Enterprise Co., Ltd.
(Literal Translation) |
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Defendant: |
Chum Power Machinery Corporation Living Water Culvert Oxygen
Technology Co., Ltd. (Literal Translation) |
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3 |
|
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Trial Number: |
96, zhongbu, 22 |
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Date of Trial: |
2007-1-2 |
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Reason: |
Return the consideration |
|
Claimant: |
Peiming Enterprise Co., Ltd.
(Literal Translation) |
|
Defendant: |
Chum Power Machinery Corporation Huanglin Food Enterprise Co.,
Ltd. (Literal Translation) |
|
Name |
Mr. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
UK Pound |
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
|
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 |
|
<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.