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Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
EXCETEK
TECHNOLOGIES CO LTD. |
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Registered Office : |
1F., No.5, 36th Rd., Taichung Industrial Park, Situn District, Taichung City 407 |
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Country : |
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Date of Incorporation : |
16.03.2006 |
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Com. Reg. No.: |
28123448 |
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Legal Form : |
Joint Stock
Company |
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Line of Business : |
Manufacturing and
Sales of Machinery and Equipment. |
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No. of Employees : |
About 80 |
RATING & COMMENTS
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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 |
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Payment Behaviour : |
Slow but correct |
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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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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: |
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Trading Address: |
No.10, Fenggong 3rd Rd., Shengang Dist., Taichung City, Taiwan |
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Supplied Address: |
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Telephone Number: |
+886-4-2520-0688 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated on 2006-3-16 with registered number 28123448 as Joint Stock Company in Taiwan.
|
Former
English Name |
Acertech
Technologies Co., Ltd. |
|
Current
English Name |
Excetek
Technologies Co., Ltd. |
|
Name |
Subscription Amount |
|
Ruircheng Zhang |
500,000 |
|
Lianting Shi |
250,000 |
|
Zhenyu Wei |
325,000 |
|
Yeong Chin
Machinery Industries Co., Ltd. |
3,780,000 |
|
Yizhen Li |
216,000 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
Registered Name: |
Yeong Chin
Machinery Industries Co., Ltd. |
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Registered Address: |
No. 888, Sec. 1,
Homu Rd., Shengang Dist., Taichung City 42953, Taiwan (R.O.C.) |
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Date of
Foundation: |
1969-4-16 |
|
Registration
Number: |
55051523 |
|
Registry: |
|
|
Registered Capital: |
NTD 2,000,000,000
(USD 66,200,000) (As of 2014.7, 1
NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 566,780,000
(USD 18,760,418) |
|
Legal
Representatives: |
Boyuan Chen |
|
Legal Form: |
Joint Stock
Company |
|
Staff: |
About 800
Employees |
|
Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
2013-4-3 |
Factory
|
Address: |
No.5, 36th Rd.,
Taichung Industrial Park, Situn District, Taichung City 407,Taiwan (R.O.C.) |
|
Date of
Registration: |
2007-1-10 |
|
Factory
Registration Number: |
99702340 |
|
Factory Manager: |
Ruircheng Zhang |
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Status: |
In Production |
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Date of Last
Annual Return: |
2007-1-10 |
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Major Products: |
292 Other special
developing 293 General
machinery and equipment |
Office
|
Address |
No.132-1, Junying
St., Shulin Dist., New Taipei City 238, Taiwan |
|
Tel |
+886-2-2687-8101 |
|
Fax |
+886-2-2687-8061 |
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E-mail |
Related Companies
|
1 |
|
|
Name |
Kun Shan Jing
Cheng Zan Mechanical Co., Ltd. |
|
Address |
2F, No.1288,
Chengbei Road, Kunshan City, Jiangsu, the mainland of China |
|
Tel |
+86-512-5511-2988 |
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Fax |
+86-512-5511-5766 |
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2 |
|
|
Name |
Dong Guan Jing
Hong Mechanical Co., Ltd. |
|
Address |
No.318, Zhenan
Middle Road, Shatou Zone, Changan Town, Dongguan, Guangdong, the mainland of
China |
|
Tel |
+86-769-8554-0198 |
|
Fax |
+86-769-8554-0998 |
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E-mail |
|
Core Management
Directors
|
1 |
|
|
Name |
Ruircheng Zhang |
|
Position |
Board
Chairman/Manager |
|
Date of
Appointment |
2006-11-21 |
|
2 |
|
|
Name |
Lianting Shi |
|
Position |
Director |
|
3 |
|
|
Name |
Zhenyu Wei |
|
Position |
Director |
|
4 |
|
|
Name |
Kunming Ke |
|
Position |
Director |
|
5 |
|
|
Name |
Chongguang Chen |
|
Position |
Director |
|
6 |
|
|
Name |
Yizhen Li |
|
Position |
Supervisor |
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7 |
|
|
Name |
Xunfei Chen |
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Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 80 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.10, Fenggong
3rd Rd., Shengang Dist., Taichung City, Taiwan |
Production Information
·
Subject
is a manufacturer of machinery and
equipment.
·
It is introduced that subject has a factories in
Taiwan and related factories in the mainland of China for production.
·
It is introduced that subject has obtained ISO 9001:
2000.
Purchase Information
The
registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of
machinery and equipment. |
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CC01110 |
Manufacturing of
computer and related equipment. |
|
CA01050 |
Secondary
processing of steel. |
|
F113010 |
Wholesales of
machinery. |
|
F213080 |
Retails of
machinery and equipment. |
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F401010 |
International
trading business. |
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ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
It is introduced that subject purchases components and etc both at home and abroad.
· The subject is mainly engaged in sales of machinery and equipment.
· It is introduced that subject’s selling territory includes Asia, Europe, America, Australia and
· It is introduced that subject’s major customers are machine processing industry and
· It is introduced that subject also provides OEM services.
· It is introduced that subject has its own brand named “EXCETEK”.
· It is introduced that subject has many agents covering all over the world.
Major Products
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|
Product |
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1 |
Wire-cut EDM |
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2 |
Die-sinking EDM |
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3 |
Hole drilling EDM |
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4 |
Customization EDM |
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 |
|
|
Machinery and equipment. |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Machinery and
equipment. |
CBD 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 salesman
declined to disclose its financials citing the grounds of company’s
confidentiality; from other source we cannot 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.
|
Position |
Salesman |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.22 |
|
|
1 |
Rs.102.79 |
|
Euro |
1 |
Rs.81.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
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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 |
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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.