|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
Lih Chang Machinery Co., Ltd. |
|
|
|
|
Registered Office : |
No. 34, Lane 465, Lien Tsun Rd., Fengyuan Dist., Taichung City 420 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
08.06.1984 |
|
|
|
|
Com. Reg. No.: |
55991201 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sale of Machinery etc. |
|
|
|
|
No. of Employees : |
About 50 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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. 34, Lane 465, Lien Tsun Rd., Fengyuan Dist., Taichung City 420,
Taiwan (R.O.C.) |
|
Supplied Address: |
34, Lane 645, Lian Tsuen Rd, Fong Yuen Dist, Taichung City 42071 |
|
Telephone Number: |
+886-4-2536-7975 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact
name and address are as above.
Subject was incorporated on 1984-6-8 with registered number 55991201 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Yanzhang Lv |
63,000 |
|
Limei Lin |
|
|
10,000 |
|
|
Wanru Lv |
2,500 |
|
Wanqing Lv |
2,500 |
The information above is that of subject’s major shareholders.
Factories
|
1 |
|
|
Address: |
No. 34, Lane 465, Lien Tsun Rd., Fengyuan Dist., Taichung City 420, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1988-5-28 |
|
Date of
Registration: |
1988-6-7 |
|
Factory
Registration Number: |
99640738 |
|
Factory Manager: |
Yanzhang Lv |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2003-1-27 |
|
Major Products: |
293 general machinery |
|
2 |
|
|
Name: |
The 2nd
Factory |
|
Address: |
No. 34-1, Lane 465, Lien Tsun Rd., Fengyuan Dist., Taichung City 420, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1990-3-7 |
|
Date of
Registration: |
1990-4-6 |
|
Factory
Registration Number: |
99641025 |
|
Factory Manager: |
Yanzhang Lv |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2003-1-30 |
|
Major Products: |
293 general machinery |
Related Company
|
Name |
Li Ba Technology (Nanjing) Co., Ltd. |
|
Address |
Tiexin Bridge Industrial Area, Yuhua Tai District, Nanjing City, Jiangsu Province, China |
|
Telephone Number |
+86-25-5289-6001 |
|
Fax Number |
+86-25-5289-6010 |
|
Date of Foundation: |
2002-5-10 |
|
Registration Number: |
320100400016545 |
|
Registry: |
Nanjing Industrial & Commercial Administration Bureau |
|
Registered Capital: |
CNY 1,100,000 |
|
Legal Representatives: |
Wanru Lv |
Core Management
Directors
|
1 |
|
|
Name |
Yanzhang Lv |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Limei Lin |
|
Position |
Director |
|
3 |
|
|
Name |
Wanru Lv |
|
Position |
Director |
|
4 |
|
|
Name |
Wanqing Lv |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 50 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No. 34, Lane 465, Lien Tsun Rd., Fengyuan Dist., Taichung City 420, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of machinery, etc.
Subject has factories (about 6,000 square meters) in Taichung City, Taiwan for production.
Purchase Information
The registered activities of subject:
|
1 |
Manufacturing, processing and sale of milling machine, drilling machine, wood-working machine, compound machine, sawing machine, industrial machinery and other related components |
|
2 |
Import and export of above items |
The components for production are mostly purchased in domestic market.
Subject is engaged in sale of machinery, etc.
The major products sold by subject include CNC machining center, CNC hi-speed machining center, CNC double column machining center, vertical turret milling machine and so on.
Subject’s sales regions include Asia, Europe and America, etc.
Subject’s major customers are Outillages King Canada Inc and Electronica Mechatronic Systems (India) Pvt. Ltd., etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components |
T/T, Cash, etc |
100% |
Foreign Purchase
Subject has little import.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Machinery, etc |
T/T, Cash, 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. Lin 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. Lin |
|
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
: |
SUB |
|
|
|
|
Report Prepared by
: |
NIT |
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.