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Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ILLIES
ENGINEERING (TAIPEI) LTD. |
|
|
|
|
Registered Office : |
8th Fl., No.217, Nanking E. Rd., Section 3,
Taipei |
|
|
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Country : |
Taiwan |
|
|
|
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Date of Incorporation : |
21.08.1974 |
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|
|
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Com. Reg. No.: |
04427175 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
engaged in Trading of Mechanical Equipment Including Fabric Equipment, Food and Beverage Processing Equipment, Packing Machines, Metal Forming Machines, Mold Processing Machines, Plastic & Rubber Machinery Materials as well as Steel Pipe Manufacturing Machines |
|
|
|
|
No of Employees : |
About 20 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 – 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: |
|
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Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2713-2181 |
|
Fax Number: |
Note: The exact
address is as above, and the supplied address is subject’s former address.
|
Credit Opinion: |
Subject was incorporated on 1974-8-21 with registered number 04427175 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Kamai Yi |
99,999 |
|
Benduo Ou |
|
|
1 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
Illies Italia S.R.L. |
|
Address |
Via Meucci, 48 Z.I.S. Agostino I-36057
Arcugnano (VI) |
|
Tel: |
+39-444-563291 |
|
Fax: |
+39-444-962601 |
|
2 |
|
|
Name |
Illies Engineering India Pvt. Ltd. |
|
Address |
Balmer Lawrie Bldg., 3rd Floor 5, J.N.
Heredia Marg Ballard Estate Mumbai 400 001 India |
|
Tel: |
+91-22-2269-8150/90 |
|
Fax: |
+91-22-2269-8161 |
|
3 |
|
|
Name |
PT. Illies Engineering Indonesia |
|
Address |
Jl. Cilaki No. 26 Bandung 40114 West Java –
Indonesia |
|
Tel: |
+62-22-723-3233 |
|
Fax: |
+62-22-723-3255 |
|
4 |
|
|
Name |
C. Illies & Co. |
|
Address |
Suite 501 - 5th floor North Star Bldg., 4
Da Tuong Street Hanoi, Vietnam |
|
Tel: |
+84-4-3942-2363 |
|
Fax: |
+84-4-3942-1126 |
|
5 |
|
|
Name |
K. K. Irisu |
|
Address |
Irisu Building 12 - 18, Kamiosaki 3 –
Chome Shinagawa – Ku Tokyo 141-0021 |
|
Tel: |
+81-3-3443-4111 |
|
Fax: |
+81-3-3443-4118 |
|
6 |
|
|
Name |
Illies East Asia Ltd. |
|
Address |
Units 1602-3, 16/F Stelux House NO. 698 Prince
Edward Road Eas San Po Kong, Kowloon Hong Kong |
|
Tel: |
+852-2721-3533 |
|
Fax: |
+852-2351-5301 |
Core
Management
|
1 |
|
|
Name |
Erfu Wu |
|
Position |
Chairman of the Board |
|
2 |
|
|
Name |
Kamai Yi |
|
Position |
Director |
|
3 |
|
|
Name |
Bosi Shi |
|
Position |
|
|
4 |
|
|
Name |
Benduo Ou |
|
Position |
Director |
|
5 |
|
|
Name |
Nike Kang |
|
Position |
Auditor |
Personnel
Structure
|
Total Employees |
About 20 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a trader of mechanical equipment without
any production activities.
Purchase
Information
l
The registered activities of subject:
|
|
Details |
|
1 |
General import and export business, and
the assurance of foreign business |
|
2 |
Agents of manufacturers and suppliers of
machine at home and abroad. |
|
3 |
For all kinds of plant factories and installation
of machinery and equipment to provide various services |
|
4 |
Provide all kinds of patent authorization
and specialized technical services |
|
5 |
Manufacturing machine parts tools and
instruments |
|
6 |
Input the trafficking of meter |
|
7 |
Trading of all kinds of telecom equipment
(child) (including radio transceivers inquiry machine with launched
performance motor) |
l
The products of the subject are both purchased at
home and abroad such as Germany.
l Subject is engaged
in sale of mechanical equipment
l
The major products sold by subject include fabric
equipment, food and beverage processing equipment, packing machines, metal
forming machines, mold processing machines, plastic & rubber machinery
materials, and steel pipe manufacturing machines
l
Subject’s sales regions include domestic market,
Japan, Korea, Singapore, Southeast Asia, US, North America, etc.
l
The general delivery lead time of subject is about
40 days.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Mechanical
equipment, etc. |
T/T,
Cash, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Mechanical
equipment, etc. |
L/C,
T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Mechanical
equipment, etc. |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Mechanical
equipment, 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 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 |
Ms. Xu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
UK Pound |
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.