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Report Date : |
20.06.2014 |
IDENTIFICATION DETAILS
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Name : |
SINPRO ELECTRONICS CO., LTD. |
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Formerly Known As : |
SINPRO ELECTRONIC CO., LTD. |
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Registered Office : |
No.5, Yuan West St., Pingtung City, Pingtung County |
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Country : |
Taiwan |
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Date of Incorporation : |
10.07.1995 |
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Com. Reg. No.: |
89582325 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of electrical
products |
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No. of Employees : |
About 260 Employees (Taiwan) |
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 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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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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Former Name: |
Sinpro Electronic Co., Ltd. |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
18F, NO. 80,
MINZU 1ST RD., SANMIN DISTRICT, Kaohsiung - 807, Taiwan |
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Telephone Number: |
+886-7-396-6100 |
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Fax Number: |
+886-7-396-6106 |
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E-mail: |
Notes: The exact name and address are as
above.
Subject was incorporated on
1995-7-10 with registered number 89582325
as Joint Stock Company in
Taiwan.
|
Former English Name |
Sinpro Electronic Co., Ltd. |
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Current English Name |
Sinpro Electronics Co., Ltd. |
|
Name |
Subscription Shares |
|
Zhenxiong Qiu |
3,649,653 |
|
Zhiming Chen |
984,541 |
|
Baoyin Chen |
624,199 |
|
Zhenzhong Fang |
679,829 |
|
Yizhou Huang |
186,024 |
|
Guoping Qiu |
475,850 |
The information above is that of subject’s major shareholders.
Factory
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1 |
|
|
Address: |
No.5, Yuan West St., Pingtung City, Pingtung
County, Taiwan, R.O.C. |
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Date of Registration: |
2010-10-27 |
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Factory Registration Number: |
90P00019 |
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Factory Manager: |
Zhenxiong Qiu |
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Status: |
In Production |
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Date of Last Annual Return: |
2010-10-27 |
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Major Products: |
269 Other electronic components and parts |
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Telephone Number |
+886-8-7550116 |
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Area: |
About 10,250 square meters |
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2 |
|
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Name |
Shenzhen Factory |
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Address |
Floor 1-3, No.1 Workshop Building,
Shengzuozhi Sci.&Tech. Industry Park, Xinyu North Rd., Shajing
Subdistrict, Bao'an District, Shenzhen City, Guangdong Province, China |
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Telephone Number |
+86-755-2305-4785 |
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Fax Number |
+86-755-2792-1674 |
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Area: |
About 10,600 square meters |
Branch Companies
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Name: |
Kaohsiung Branch |
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Address: |
18F.-1, No.80, Sanmin Dist., Kaohsiung City, Taiwan (R.O.C.) |
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Registration Number |
80748612 |
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Date of Registration |
2004-4-7 |
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Manager Name |
Zhenxiong Qiu |
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Date of Last Annual Return |
2006-8-1 |
Core Management
Directors
|
1 |
|
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Name |
Zhenxiong Qiu |
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Position |
Board Chairman |
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2 |
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Name |
Zhiming Chen |
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Position |
Director/Manager |
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Date of Appointment |
1999-6-7 |
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3 |
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Name |
Baoyin Chen |
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Position |
Director/Manager |
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Date of Appointment |
1999-6-7 |
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4 |
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Name |
Zhenzhong Fang |
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Position |
Director |
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5 |
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Name |
Yizhou Huang |
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Position |
Director |
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6 |
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Name |
Guoping Qiu |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 260 Employees (Taiwan) |
Offices & Factories
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|
Headquarters |
|
Add |
18/F, No.80,
Minzu 1st Road, Nanzi Export Processing Zone, Sanmin District, Kaohsiung
City, Taiwan, R.O.C. |
Production
Information
·
Subject is a manufacturer of electrical products
·
It is introduced that
subject has two factories in Taiwan and the mainland of China for production.
·
It is introduced that subject has an R & D
centre (about 2,000 square meters) in Kaohsiung City, Taiwan.
·
It is introduced that
subject has obtained ISO 9001:2008 and ISO 14001:2004 certifications.
·
It is introduced that the production information of
subject’s factories is as following:
Production Capacity
|
Name |
Monthly Production Capacity |
|
Pingtung Factory |
About 300,000 pieces |
|
Shenzhen Factory |
About 500,000 pieces |
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and trading of transformer, power adapter, power supply |
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-- |
Manufacturing and sale of electronic components |
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-- |
Trading of packaging materials |
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ZZ99999 |
Besides licensed business, all other business items those are not banned
or restricted |
It is introduced that subject purchases its components is mainly in
domestic market.
·
The subject is mainly engage in sales of electrical products.
·
It is introduced that
subject’s selling territory includes Taiwan, Mainland China, Japan, South Korea
and Europe
·
It is introduced that subject’s major customers are
mobile manufacturer, computer manufacturer, medical equipment manufacturer, and
lamps and lanterns manufacturer
·
It is introduced that subject also can provide OEM
and ODM services.
·
It is introduced that the minimum order quantity of
Shenzhen factory is 5,000 pieces.
Major products
|
Type |
Product |
|
Consumer Market Power Supply |
Power Adapter Open Frame Power Supplies |
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Medical power supply |
External Power Supplies Open Frame Power Supplies U Bracket Power Supplies |
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I.T.E. Power Supply |
Waterproof Power Supply External Power Supplies Open Frame Power Supplies Enclosure Power Supplies U Bracket Power Supplies L Bracket Power Supplies |
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Medical Power Supply |
External Power Supplies Open Frame Power Supplies U Bracket Power Supplies |
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Health Care Power Supply |
External Power Supplies Open Frame Power Supplies |
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Industrial Power Supply |
External Power Supplies Open Frame Power Supplies Enclosure Power Supplies U Bracket Power Supplies L Bracket Power Supplies |
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Extreme operating temp. Power |
External Power Supplies Open Frame Power Supplies |
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DC / DC Converter |
Isolation Voltage: 500VDC Isolation Voltage: 1000VDC Isolation Voltage: 1500VDC |
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LED Power Supply |
LED Driver (AC/DC) LED Driver Module(DC/DC) |
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Tooling Driver |
Screw Driver Power Supplies |
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components |
T/T, Cash |
100% |
Foreign Purchase
Subject has little
import.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Electrical products |
T/T, Cash |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Electrical products |
T/T, L/C |
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. Chang declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
|
Name |
Bank of Taiwan Pingtung Branch |
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Address |
43 Chung Shane Road, Pingtung, Taiwan, R.O.C. |
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Account No.: |
017007001175 |
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SWIFT Code: |
BKTWTWTP017 |
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 |
Mr. Chang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
|
1 |
Rs.102.05 |
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Euro |
1 |
Rs.81.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
|
-- |
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.