|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
YOU JI MACHINE
INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
No.92, Huanqiu
Rd., Luzhu Dist., Kaohsiung City 821 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
09.01.1981 |
|
|
|
|
Com. Reg. No.: |
88697382 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
engaged in
Manufacturing & Sale of machines
including CNC Vertical Lathe, CNC Horizontal Lathe, CNC Vertical Machining
Center, CNC Horizontal Machining Center & CNC Aluminum Wheel NC |
|
|
|
|
No of Employees : |
About 450
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 |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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: |
|
|
Trading Address: |
No.92, Huanqiu Rd., Luzhu Dist., Kaohsiung City 821, Taiwan (R.O.C.) |
|
Supplied
Address: |
|
|
Telephone
Number: |
+886-7-695-3061 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes:
The exact name and address are as
above.
|
Credit Opinion: |
|
Registered Name: |
You Ji Machine
Industrial Co., Ltd. |
|
Registered
Address: |
No.92, Huanqiu
Rd., Luzhu Dist., Kaohsiung City 821, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1981-1-9 |
|
Registration
Number: |
88697382 |
|
Registry: |
Department
of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered
Capital: |
NTD 700,000,000
(USD 23,800,000) (As of 2014.05,
1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 700,000,000 (USD
23,800,000) |
|
Legal
Representatives: |
Zhengren Wang |
|
Legal Form: |
|
|
Principal
Activities: |
engaged in Manufacturing & Sale of machines including CNC Vertical Lathe,
CNC Horizontal Lathe, CNC Vertical Machining Center, CNC Horizontal Machining
Center & CNC Aluminum Wheel NC |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was
incorporated on 1981-1-9 with registered number 88697382 as Joint Stock Company in Taiwan.
Events
|
1978 |
YOU JI was
established at Bali Township, Taipei, mainly produced single function
machines, special purpose machines and boring machines |
|
1981 |
Due to plant
expansion, the company moved to Kaohsiung. |
|
1991 |
Successfully
researched and developed medium-sized CNC vertical turning lathe- YV series. |
|
1992 |
Horizontal Turning
Lathe with Hydraulic Turret design was submitted to the domestic market. You
Ji has been the first company successfully to develop and build hydraulic
system into CNC lathe in Taiwan. In the same year, the second factory was
established and You JI started to export its products into global market. |
|
1993 |
Paid-up Capital
was increased to NTD 50 millions. |
|
1994 |
More than 20
exclusive local agents and all over the world had been established. |
|
1995 |
Paid-up Capital
was increased to NTD 90 millions. |
|
1996 |
Qualification of
CE norm. |
|
1997 |
Qualification of
EMC certificate and extended the plant to 10,000 square meters. |
|
1998 |
Successfully
researched and developed CNC vertical machining center-VMC series. |
|
1999 |
Successfully
researched and developed CNC vertical turning lathe-VTL series. |
|
2000 |
CNC reverse
turning lathe YR-320 series was development successfully. |
|
2001 |
You Ji has been
the first company successfully to develop and build the multi- function vertical
turning lathe. |
|
2002 |
Subsidiary was
established at Kun Shan, China. |
|
2003 |
VMC1100-2S
Vertical machine center with 2 spindle to be presented to the public. |
|
2004 |
Successfully researched
and developed CNC horizontal machining center-HMC series, and qualified of
ISO9001 in the same year. |
|
2005 |
Extended the
plant to 17,500 square meters. |
|
2006 |
Vertical lathe
with Auto pallet changer, special design for bearing manufacture- VTS series,
double RAM vertical turning lathe to be presented to the public. Turnover was
increased to NTD 2 billion. |
|
2007 |
Successfully
researched and developed CNC heavy duty flat bed turning lathe -YB series and
VTL3000ATC、VTL4000ATC to be presented to the public .
You Ji is in the leading position of big vertical lathe manufacture. The
plant in Kun Shan, China was established. |
|
2008 |
Successfully
researched and developed huge turning lathe equips with hydrostatic bearing- VTH
series and CNC gantry type machining center. Turnover was increased to NTD
4.5 billions. |
|
2009 |
Successfully
researched and developed horizontal floor type milling and boring machine as
well as double column 5 faces machining center. |
|
2010 |
Heavy duty
vertical turning center with hydrostatic table transmission successfully
introduced to foreign market; the table diameter ranges from 3 meter to 7
meter. |
|
2011 |
YOU JI
Successfully launched 130mm and 150mm spindle quill diameter horizontal boring
machine to local and foreign markets; covering Asian, European and South
American countries. |
|
2012 |
YOU JI move to
new facility in March, in the meantime invest in buying new machines to
expand the in-house production scale, control production quality and total
machine production capacity. |
|
Name |
Subscription Shares |
|
Zhengren Wang |
24,788,864 |
|
Zhengshun Wang |
|
|
700,000 |
|
|
Xiuxiong Huang |
12,288,349 |
|
Yuyun Ye |
2,800,000 |
The information above is that of subject’s major shareholders.
Factories
|
1 |
|
|
Address: |
No.42, Da-Ren
Road, Luzhu Dist., Kaohsiung City 821, Taiwan (R.O.C.) |
|
Date
of Foundation: |
1990-12-31 |
|
Date
of Registration: |
1990-12-31 |
|
Factory
Registration Number: |
99662875 |
|
Factory
Manager: |
Zhengren
Wang |
|
Status: |
In
Production |
|
Date
of Last Annual Return: |
2002-2-20 |
|
Major
Products: |
293
general machinery |
|
2 |
|
|
Name: |
Xinyuan
Factory |
|
Address: |
No.92, Huanqiu
Rd., Luzhu Dist., Kaohsiung City 821, Taiwan (R.O.C.) |
|
Date
of Registration: |
2012-11-1 |
|
Factory
Registration Number: |
64006653 |
|
Factory
Manager: |
Zhengren
Wang |
|
Status: |
In
Production |
|
Date
of Last Annual Return: |
2012-11-5 |
|
Major
Products: |
291 metal processing machinery 292
other special purpose machine |
Subsidiaries
|
Name |
You Ji Machine
Industrial (Kunshan) Company Limited |
|
Address |
No.520 Hengchangjing
Road, Zhoushi Town, Kunshan, Jiangsu Province |
|
Telephone Number |
+86-512-57668772 |
|
Fax Number |
+86-512-57668771 |
|
E-mail |
Core Management
Directors
|
1 |
|
|
Name |
Zhengren Wang |
|
Position |
Board
Chairman/Manager |
|
Date of
Appointment |
1980-11-17 |
|
2 |
|
|
Name |
Zhengshun Wang |
|
Position |
Yuyun Ye |
|
3 |
|
|
Name |
Xiuxiong Huang |
|
Position |
Yuyun Ye |
|
4 |
|
|
Name |
Yuyun Ye |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 450 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.92, Huanqiu
Rd., Luzhu Dist., Kaohsiung City 821, Taiwan (R.O.C.) |
Production Information
l
Subject is engaged in
manufacturing of machines
l
Subject has factories
in Kaohsiung City, Taiwan and
Mainland China for production.
l
Subject obtained the
certification of CE, EMC, UKAS and ISO 9001:2000.
l
It is introduced that
subject designs the machines by itself.
Purchase
Information
l
The registered
activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
|
CB01990 |
Manufacturing of other
machines |
|
F401010 |
International trade business |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted |
l
The components and raw
materials for production are purchased from both home and abroad such as
Taiwan, Mainland China and Japan, etc.
l
Subject is engaged in
sale of machines
l
The major products
sold by subject include CNC vertical lathe, CNC horizontal lathe, CNC vertical
machining center, CNC horizontal machining center & CNC aluminum wheel NC
l
Subject has major
customers include “GE (General Electric Company)”, “HP”, and “Rolls-Royce”.
l
Subject’s sales
regions include domestic market, Japan, South Korea, other Asian countries,
Europe and America, etc
l
We obtained subject’s
latest agents’ list as follows for reference:
|
Sales
Region |
Name |
|
Europe |
|
|
Russia |
WEBER |
|
SOLVER |
|
|
IRLEN
Engineering |
|
|
Ukraine |
WEBER |
|
Poland |
ABPLANALP |
|
TDZ
Turn, s.r.o. |
|
|
TDZ
Partners, s.r.o. |
|
|
Finland |
NUCOS
OY |
|
Sweden |
MASKIN
AB A. FRANSSON |
|
Denmark |
FLEXTEK
A/S |
|
Britain |
C
DUGARD LTD |
|
Netherlands/Belgium |
GIBAS
NUMERIEK B.V. |
|
Germany |
BBG, KOPP,WEMAS,
A&G |
|
TDZ
Turn, s.r.o. |
|
|
Czech
Republic |
TDZ
PARTNERS, s.r.o. |
|
TDZ
Turn, s.r.o. |
|
|
France |
TRANSTECHNIC |
|
Italy |
R.F.
Celada S.p.a. |
|
Spain |
MAQUINSER |
|
Hungary |
CSEPEL
HOLDING Nyrt. |
|
Turkey |
CMS
MAKINA |
|
Switzerland |
RIMA CNC MASCHINEN AG |
|
Austria |
TECNO.team
GmbH |
|
Portugal |
PAM,
LDA. |
|
Slovakia |
TDZ
Turn, s.r.o. |
|
America |
|
|
USA |
ABSOLUTE
MACHINE TOOLS INC. |
|
CUBIC
MACHINERY, INC. |
|
|
Mexico |
AMERO
PRECISION MACHINERY SA DE CV |
|
EQUIPOS
Y MAQUINARIA INDUSTRIAL |
|
|
Brazil |
DEB'MAQ
DO BRASIL |
|
Argentina |
DW
MAQUINARIA |
|
Canada |
TAI-MAX
MACHINE TOOLS INC. |
|
Chile |
AVR
TECNOLOGIA Y SERVICIO |
|
V.M.V.
MAQUINARIA |
|
|
Peru |
V.M.V.
MAQUINARIA Y CIA LTDA. |
|
Africa |
|
|
South
Africa |
MACHINE
TOOL PROMITIONS |
|
Asia |
|
|
Vietnam |
NGO
HOANG COMPANY LTD (CNH) |
|
Thailand |
P.
PATTAKHET CO., LTD. |
|
N-TECH
MACHINERY CO., LTD. |
|
|
Indonesia |
PT.
JAYA METAL TEKNIKA |
|
India |
COSMOS
IMPEX（INDIA）PVT.LTD |
|
Malaysia |
Advance
Tech Machine Tools Sdn Bhd |
|
Maxture
Technology Sdn Bhd |
|
|
Singapore |
JEP
PRECISION ENGINEERING PTE LTD |
|
HSIU
FONG MACHINERY（S）PTE LTD |
|
|
Pakistan |
DYNAMIC
TOOLING SERVICES |
|
Philippines |
NICKLAUS
MACHINERY CORPORATION |
|
Trilogy
Trading Corporation |
|
|
Israel |
NCM
Ltd. |
|
Japan |
OMAT CO., LTD. |
|
|
TOYO CORPORATION |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Components, etc |
T/T, Cash, etc |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Components, etc |
L/C, T/T, etc |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Machinery, etc |
T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery, 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 Ms. Liu 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. Liu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.