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Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
PARAGON MACHINERY CO., LTD. |
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Registered Office : |
No.2, Lane 63, Sec. 2, Tanxing Rd., Tanzi, Taichung 42757,
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Country : |
Taiwan |
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Date of Incorporation : |
19.05.1977 |
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Com. Reg. No.: |
55759800 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of machines |
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|
|
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No. of Employees |
140 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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
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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.2, Lane 63, Sec. 2, Tanxing Rd., Tanzi, Taichung 42757, Taiwan |
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Supplied Address: |
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Telephone Number: |
+ 886-4-2539-5678 |
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Fax Number: |
|
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E-mail: |
Notes: The exact
name and address are as above, and the supplied address is not complete.
Subject was incorporated on 1977-5-19 with registered number 55759800 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Guirong Liu |
12,000 |
|
Jianzhou Chen |
|
|
5,088 |
|
|
Zhenghong Liu |
21,600 |
|
Guizhang Liu |
10,465 |
The information above is that of subject’s major shareholders.
Factories
|
1 |
|
|
Name: |
Paragon Machinery Co., Ltd. |
|
Address: |
No. 34, Sec. 1, Xinping Rd., Zhongxing Li, Taiping Dist., Taichung City, Taiwan. |
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Date of Foundation: |
1972-8-22 |
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Factory Registration Number: |
99635259 |
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Factory Manager: |
Guirong Liu |
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Status: |
In Production |
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Date of Last Annual Return: |
2012-8-16 |
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Major Products: |
293 General mechanical equipment |
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2 |
|
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Name: |
Paragon Machinery Co., Ltd. Tanzi Factory |
|
Address: |
No.2, Lane 63, Sec. 2, Tanxing Rd., Tanzi, Taichung 42757, Taiwan |
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Date of Registration: |
2010-9-10 |
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Factory Registration Number: |
99713868 |
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Factory Manager: |
Guirong Liu |
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Status: |
In Production |
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Date of Last Annual Return: |
2012-8-17 |
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Major Products: |
291 mechanical equipment for processing metal |
Core Management
Directors
|
1 |
|
|
Name |
Guirong Liu |
|
Position |
Chairman of the Board |
|
2 |
|
|
Name |
Jianzhou Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Zhenghong Liu |
|
Position |
Director |
|
4 |
|
|
Name |
Guizhang Liu |
|
Position |
Supervisor |
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5 |
|
|
Name |
Guirong Liu |
|
Position |
Manager |
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Date of Appointment |
2006-4-26 |
Personnel Structure
|
Total Employees |
About 140 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.2, Lane 63, Sec. 2, Tanxing Rd., Tanzi, Taichung 42757, Taiwan |
Production Information
Subject is engaged in manufacturing of machines, etc.
Subject has factories in Taiwan for production.
Subject obtained the certification of ISO 9001.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Machinery and equipment manufacturing |
|
CE01010 |
General instrument manufacturing |
|
CD01030 |
Automobile and parts manufacturing |
|
E604010 |
The machinery installation industry |
|
F113010 |
Mechanical wholesaling |
|
F113030 |
Precision instruments wholesaling |
|
F114030 |
Equipped with steam locomotive parts wholesaling |
|
F213080 |
Mechanical equipment retail |
|
F213040 |
Precision instruments retail |
|
F214030 |
Equipped with steam locomotive parts retail |
|
CN01010 |
Furniture and furnish product manufacturing |
|
CH01010 |
Sports products manufacturing |
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F105050 |
Furniture and bedding product wholesaling kitchen appliance installations |
|
F109070 |
Culture and education instrument Recreational supplies wholesale |
|
F205040 |
Bedding furniture kitchen appliance installed product retailing |
|
F209060 |
Culture and education instrument, recreational supplies retail |
|
F401010 |
The international trading |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The components and raw materials for production are both purchased at home and abroad.
Subject is engaged in sale of machines, etc.
The major products sold by subject include tool grinding machines, centerless grinding machines, high-speed centerless grinding machines, internal grinding machines, CNC angular cylindrical grinding machines, universal cylindrical grinding machines, polygon grinding machines, etc.
Subject’s sales regions include domestic market, Japan, Singapore, India, Southeast Asia, US, North America, Europe, Australia, etc.
Subject’s major customers are Aldila Golf Corp, Apm Shock Absorbers Sdn. Bhd., Chun Zu Machinery Industry Co., Ltd., 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 |
|
|
Machines, etc. |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machines, 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. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
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 |
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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 |
|
|
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 |
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|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
NB |
New Business |
-- |
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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.