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Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
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Name : |
ZITAI PRECISION MACHINERY CO., LTD. |
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Registered Office : |
No.172, Hsi Tou Rd., Shengang Dist.,
Taichung City 429 |
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Country : |
Taiwan |
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Date of Incorporation : |
28.01.1985 |
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Com. Reg. No.: |
56807040 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales
of cold chamber die casting machine, gravity casting machine and general casting |
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No. of Employees : |
About 100 Employees |
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 |
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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. In 2009, Taiwan's GDP contracted 1.8%, due primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%, as exports returned to the level of previous years, and in 2011, grew 4.0%. In 2012, however, growth fell to 1.3%, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but except for the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far Taiwan has been excluded from this greater economic integration in part because of its diplomatic status. Negotiations continue on such follow-on components of ECFA regarding trade in goods and services. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other key trade partners, which Taiwan subsequently launched with Singapore and New Zealand. 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 trade surplus largely because of its surplus with China, and its foreign reserves are the world's fifth largest, behind China, Japan, Saudi Arabia, and Russia. 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. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. 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.172, Hsi Tou
Rd., Shengang Dist., Taichung City 429, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-4-2561-1858 |
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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 1985-1-28 with registered number 56807040 as Joint Stock Company in Taiwan.
|
Name |
Subscription
Shares |
|
Songrun Zhan |
7,327 |
|
Weizhong Lan |
5,280 |
|
Henglin Gu |
5,280 |
|
Yongkun Guo |
6,560 |
The information above is that of subject’s major shareholders.
Related Companies
|
Name |
Ningbo Zitai Precision Machinery Co.,Ltd |
|
Address |
No.558 Mingzhou W. Road, Beilun, Ningbo, Zhejiang Province, China |
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Registered Number |
330200400028589 |
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Date of Foundation |
2001-8-22 |
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Registered Capital |
USD 6,000,000 |
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Telephone Number |
+86-574-8680-5888 |
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Fax Number |
+86-574-8680-5860 |
|
Activities |
Research, development and manufacture die casting technique, new process
materials, die casting mould, melted equipment of die casting machine and its
ancillary equipment |
Factory
|
|
|
|
Address: |
No.172, Hsi Tou Rd., Shengang Dist.,
Taichung City 429, Taiwan (R.O.C.) |
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Date of Foundation: |
1992-4-14 |
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Date of Registration: |
1992-4-27 |
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Factory Registration Number: |
99635005 |
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Factory Manager: |
Songrun Zhan |
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Status: |
In Production |
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Date of Last Annual Return: |
2002-2-25 |
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Major Products: |
293 General machinery and equipment |
Core
Management
|
1 |
|
|
Name |
Songrun Zhan |
|
Position |
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2 |
|
|
Name |
Weizhong Lan |
|
Position |
Director |
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3 |
|
|
Name |
Henglin Gu |
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Position |
Director |
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4 |
|
|
Name |
Yongkun Guo |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 100
Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.172, Hsi Tou Rd., Shengang Dist.,
Taichung City 429, Taiwan (R.O.C.) |
Production
Information
l
Subject is a manufacturer of cold chamber die casting machine
l
It is introduced that
subject has a factory in Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
|
Details |
|
1 |
The manufacturing processing and sale of
business of Qu hand type injection molding machine, direct pressure injection
molding machine, oil pressure aluminum die casting machine, hot type full
automatic die casting machine all kinds of oil pressure single machines and
its parts. |
|
2 |
The importing, exporting and investment
business, etc |
l
The components and raw material for production are
mostly purchased from domestic market.
l
The subject is mainly engaged in sales of cold chamber die casting machine
l
It is introduced that
subject’s selling territory covering all over the world.
l
It is introduced that
subject’s products are applied into cash register, gramophone, bikes and etc.
l
It is introduced that subject has owned brand named
“ZITAI”.
Major products
|
Types |
Product |
|
Die casting machine |
ZDC series |
|
Gravity casting machine |
PMC series |
|
Control system |
Shot Parameter Setting Auto Ladle Parameter Setting Auto Extractor Parameter Setting Auto Sprayer Parameter Setting Shot Graphic Display |
|
Peripherial equipment |
ZLB Series-Auto Ladler ZSP Series-Auto Sprayer ZPU Series-Auto Extractor |
Subject’s agents
are as followed:
|
Brazil |
|
|
Russia |
CYBERTECH TAIWAN Inc. |
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Argentina |
|
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Mexico |
FERZIJ , S.A. de C.V. |
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Thailand |
IRD ENGINEERING CO., LTD. |
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India |
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Turkey |
GENERAL MAKINA |
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Colombia |
IMOCOM S.A. |
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Chile |
RAUL CARNERO Y CIA. LTDA. |
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Germany |
DRUCKGUSS SERVICE DEUTSCHLAND GMBH |
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China Mainland |
Shanghai Office of Ningbo Zitai Precision
Machinery Co., Ltd |
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Dongguan Office of Ningbo Zitai Precision
Machinery Co., Ltd |
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Qingdao Office of Ningbo Zitai Precision
Machinery Co., Ltd |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Product |
Payment Terms |
Proportion |
|
Components and raw material |
COD, CBD, etc |
100% |
Foreign Purchase
Subject has little import
Sales
Domestic Markets
|
Product |
Sales Terms |
Proportion |
|
Die casting machine, gravity casting
machine and general casting. |
COD, CBD, etc |
100% |
Export
|
Product |
Sales Terms |
Proportion |
|
Die casting machine, gravity casting
machine and general casting |
CBD, 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 Mr. Zhan declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
Subject did not introduce its bank details; from other source we can not
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 |
Mr. Zhan |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.86 |
|
UK Pound |
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Report
Prepared by : |
PDT |
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 |
|
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.