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Report Date : |
21.03.2014 |
IDENTIFICATION DETAILS
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Name : |
PACKWAY INC. |
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Registered Office : |
No.56, 35th Road, Taichung
Industrial Park, Taichung |
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Country : |
Taiwan |
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Date of Incorporation : |
11.10.1979 |
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Com. Reg. No.: |
55892672 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of automatic
packaging machines |
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No of Employees : |
About 20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 : |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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.56, 35th Road, Taichung
Industrial Park, Taichung, Taiwan, R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-4-2359-1858 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact name and address are as above.
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Credit Opinion: |
|
Registered Name: |
Packway Inc. |
|
Registered Address: |
No.56, 35th Road, Taichung Industrial
Park, Taichung, Taiwan, R.O.C. |
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Date of Foundation: |
1979-10-11 |
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Registration Number: |
55892672 |
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Registry: |
Taichung City Government |
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Registered Capital: |
NTD 25,000,000 (USD
850,000) (As of 2014.03, 1 NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 25,000,000 (USD 850,000) |
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Legal Representatives: |
Jianfa Lai |
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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: |
Subject was incorporated on
1979-10-11 with registered number 55892672 as Joint Stock
Company in Taiwan.
Change of Name
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Current Name: |
Packway Inc. |
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Former Name: |
Pack Way Corp. |
|
Name |
Subscription Shares |
|
Jianfa Lai |
350 |
|
Shufen Zhang |
1,175 |
|
Chunting Lai |
200 |
|
Yingru Lai |
200 |
The information above is that of subject’s major shareholders.
|
Address: |
No.56, 35th Road,
Taichung Industrial Park, Taichung, Taiwan, R.O.C. |
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Date of Foundation: |
1993-8-12 |
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Date of Registration: |
1995-8-30 |
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Factory Registration Number: |
99669833 |
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Factory Manager: |
Jianfa Lai |
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Status: |
In Production |
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Date of Last Annual Return: |
1995-8-30 |
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Major Products: |
293 general mechanical equipment |
Core Management
Directors
|
1 |
|
|
Name |
Jianfa Lai |
|
Position |
Board Director |
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2 |
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|
Name |
Shufen Zhang |
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Position |
Director |
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3 |
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|
Name |
Chunting Lai |
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Position |
Director |
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4 |
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|
Name |
Yingru Lai |
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Position |
Supervisor |
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5 |
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|
Name |
Yanqing Lin |
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Position |
Manager |
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Date of Appointment |
2005-3-25 |
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6 |
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Name |
Yongbin Zhang |
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Position |
Manager |
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Date of Appointment |
2005-3-25 |
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7 |
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|
Name |
Zhengsheng Deng |
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Position |
Manager |
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Date of Appointment |
2005-3-25 |
Personnel
Structure
|
Total Employees |
About 20 Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
No.56, 35th Road, Taichung
Industrial Park, Taichung, Taiwan, R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of
automatic packaging machines, etc.
l
Subject has a factory in Taichung City, Taiwan for production.
l
Subject obtained the certification of
CE and ISO 9001.
l
It is introduced that subject can
provide OEM service.
Purchase
Information
|
1 |
Manufacturing and sales of packaging
machine and its parts |
|
2 |
Trading of packaging equipment (adhesive
tape) |
|
3 |
Manufacturing, processing, assembling and
trading of aviation components |
|
4 |
Trading of mechanical hardware, computer,
software, electronic component, building material, sport equipment, stationery
and toy |
|
5 |
Trading of chemical material (except
hypertoxicity), cleanser, lubricating oil, plastic product, can, and grocery |
|
6 |
Manufacturing, processing and sales of
conveyor, stack machine, case unpacking machine, cartoning sealing machine,
and automatic packaging system equipment |
|
7 |
Agent, price quoting, bidding service,
Import, export and marketing of all kinds of above mentioned items. |
l
The components for production are
purchased both home and abroad.
l
It is introduced that subject import
some technology from Japan and Europe, etc.
l Subject
is engaged in sales of automatic packaging machines, etc.
l
Subject’s sales regions include
Southeast Asia, Europe, and America, etc.
l
The major products sold by subject
include carton erector, carton sealing machine, semi-automatic strapping
machine, automatic strapping machine, stretch wrapping machine, automatic
packaging system, and fully automatic strapping machine, etc.
Import
and export right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Terms |
Proportion |
|
|
Components |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Components |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
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|
Packaging machines |
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 Ms. Zhang 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.
|
Name |
Ms. Zhang |
|
Position |
Sales |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.13 |
|
|
1 |
Rs. 101.17 |
|
Euro |
1 |
Rs. 84.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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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.