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Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
WELLMADE ENTERPRISE CO., LTD. |
|
|
|
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Registered Office : |
4FL., No.50-18, |
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Country : |
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Date of Incorporation : |
17.03.1993 |
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Com. Reg. No.: |
84211325 |
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|
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Legal Form : |
Joint Stock Company |
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|
|
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Line of Business : |
Manufacturing and sales of knitting machine |
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|
|
|
No. of Employees |
Not Available |
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 |
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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
|
Source
: CIA |
|
Company Name: |
WELLMADE ENTERPRISE
CO., LTD. |
|
Supplied Name: |
WELLMADE
ENTERPRISES CO LTD |
|
Trading Address: |
No. 23, Lane 207, Huakang St, Bade City, Taoyuan, Taiwan 334, R.O.C. |
|
Supplied Address: |
Road Town Tortola, British Virgin Islands, No 23, Lane 207, Huakang St. Bade City, Taoyuan |
|
Telephone Number: |
+886-3-3778502 / 3770885 |
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Fax Number: |
+886-3-3771282 / 3770721 |
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E-mail: |
Notes: The exact name and address are as above.
|
Registered Name: |
WELLMADE ENTERPRISE
CO., LTD. |
|
Registered Address: |
4FL., No.50-18, Lung Hsiang St., Taoyuan City, Taoyuan Hsien, Taiwan |
|
Date of Foundation: |
1993-3-17 |
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Registration Number: |
84211325 |
|
Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2014.7, 1 NTD = 0.0331 USD) |
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Paid-up Capital: |
NTD 13,320,000 (USD 440,892) |
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Legal Representatives: |
Weizhen Liu |
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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: |
Notes: Subject declined to disclose its staff number; from other source we cannot obtain the relevant information, either.
Subject was incorporated on 1993-3-17 with registered number 84211325 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Weizhen Liu |
721,500 |
|
Qiugui Liu |
92,500 |
|
Fuzhi Lin |
37,000 |
|
Laicheng Wang |
370,000 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
Aotu Building, Wanan Developing Zone, Luojiang District, Quanzhou City, Fujian Province, China |
|
Tel |
+86-595-22632339 |
|
Fax |
+86-595-22632896 |
|
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Core Management
Directors
|
1 |
|
|
Name |
Weizhen Liu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Qiugui Liu |
|
Position |
Director |
|
3 |
|
|
Name |
Fuzhi Lin |
|
Position |
Director |
|
4 |
|
|
Name |
Laicheng Wang |
|
Position |
Supervisor |
Offices & Factories
|
|
Headquarters |
|
Add |
No. 23, Lane 207, Huakang St, Bade City, Taoyuan, Taiwan 334, R.O.C. |
Production Information
Subject is a manufacturer of knitting machine and etc.
It is introduced that subject has a factory in Quanzhou City, Fujian Province, the mainland of China.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing, processing and sales of machinery and its components. |
|
-- |
Manufacturing, processing and sales of precise gear. |
|
-- |
Importing and exporting of above related products. |
|
-- |
Agent of marking price, bidding and sales for above related productions of domestic and overseas manufacturers. |
It is introduced that subject purchases its components and etc both at home and abroad.
The subject is mainly engaged in sales of knitting machine and etc.
It is introduced that subject’s selling territory includes Asia, Europe, America and etc.
It is introduced that subject’s major customers are manufacturers, agents and distributors of textiles and etc.
It is introduced that subject also provide OEM and ODM services.
It is introduced that subject has an agent in India.
Major Products
|
|
Product |
|
1 |
Single machine |
|
2 |
Double machine |
|
3 |
Computerized/jacquard machine |
|
4 |
Electronic jacquard seamless underwear knitting machine. |
|
5 |
Hosiery machine |
|
6 |
Flat knitting machine |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components and etc |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Components and etc |
CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Knitting machine and etc. |
T/T and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Knitting machine and etc. |
L/C, T/T and 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. Hong 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. Hong |
|
Department |
Sales Department |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIS |
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.