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Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PAI LUNG MACHINERY MILL CO., LTD |
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|
|
|
Registered Office : |
No.8, Ting Ping Rd., Ruifang Dist., New Taipei City 224, |
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|
|
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Country : |
Taiwan |
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|
|
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Date of Incorporation : |
10.06.1977 |
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|
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Com. Reg. No.: |
20765242 |
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|
|
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Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Manufacturing and sales of circle knit, flat knit machines |
|
|
|
|
No. of Employees |
210 |
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 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
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Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.8, Ting Ping Rd., Ruifang Dist., New Taipei City 224, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2497-8888 |
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Fax Number: |
|
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E-mail: |
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|
Website: |
Notes: The exact name and address are above.
|
Registered Name: |
|
|
Registered Address: |
No.8, Ting Ping Rd., Ruifang Dist., New Taipei City 224, Taiwan (R.O.C.) |
|
Date of Foundation: |
1977-6-10 |
|
Registration Number: |
20765242 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
NTD 496,000,000 (USD 16,864,000) (As of 2014.04, 1 NTD = 0.0333 USD) |
|
Paid-up Capital: |
NTD 432,147,110 (USD 14,693,001) |
|
Legal Representatives: |
Jiancang Wang |
|
Legal Form: |
|
|
Principal Activities: |
Manufacturing and sales of circle knit, flat knit machines, etc |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1977-6-10 with registered number 20765242 as Private Limited Liability Company in Taiwan.
|
Subscription Shares |
|
|
Jiancang Wang |
10,586,265 |
|
Longsheng Investment
Company Limited (Literal Translation) |
|
|
6,201,544 |
|
|
Zhaowei Investment Company Limited (Literal Translation) |
6,201,544 |
|
Wanyi Chen |
1,647,010 |
|
Jinchuan Sun |
1,421,205 |
|
Jinhua Chenlin |
1,283,834 |
|
Shiyang Chen |
14,852 |
The information above is that of subject’s major shareholders.
Shareholder
Information
|
1 |
|
|
Name |
Longsheng Investment Company Limited (Literal Translation) |
|
Date of Foundation: |
1996-1-30 |
|
Registration Number: |
96932446 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 38,200,000 (USD 1,298,800) (As of 2014.04, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 28,000,000 (USD 952,000) |
|
Legal Representatives: |
Jiancang Wang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-4-23 |
|
2 |
|
|
Name |
Zhaowei Investment Company Limited (Literal Translation) |
|
Date of Foundation: |
1996-2-1 |
|
Registration Number: |
96933938 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 38,200,000 (USD 1,298,800) (As of 2013.04, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 28,000,000 (USD 952,000) |
|
Legal Representatives: |
Jiancang Wang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-4-18 |
Factory
|
Name: |
Ruifang Factory |
|
Address: |
No.8, Ting Ping Rd., Ruifang Dist., New Taipei City 224, Taiwan (R.O.C.) |
|
Date of Registration: |
1999-3-6 |
|
Factory Registration Number: |
99617545 |
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Factory Manager: |
Jiancang Wang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-6-19 |
|
Major Products: |
293 general machinery 251 metal hand tool and mould |
Related Companies
|
1 |
|
|
Name |
|
|
Address |
No.178 Huangzhou Street, Huanggang City, Hubei Province, China |
|
Telephone Number |
+86-713-8396-888 |
|
Fax Number |
+86-713-8396-298 |
|
2 |
|
|
Name |
Vanguard Pai Lung LLC |
|
Address |
|
Core Management
Directors
|
1 |
|
|
Name |
Bingci Wang |
|
Position |
Board Chairman/ Manager |
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Date of Appointment: |
1997-6-13 |
|
2 |
|
|
Name |
Bozhen Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Jiancang Wang |
|
Position |
Director |
|
Date of Appointment |
1997-6-13 |
|
4 |
|
|
Name |
Wanyi Chen |
|
Position |
Director |
|
5 |
|
|
Name |
Jinchuan Sun |
|
Position |
Director |
|
6 |
|
|
Name |
Linjinhua Chen |
|
Position |
Supervisor |
|
7 |
|
|
Name |
Shiyang Chen |
|
Position |
Supervisor |
|
8 |
|
|
Name |
Pengfei Su |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 210 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.8, Ting Ping Rd., Ruifang Dist., New Taipei City 224, Taiwan (R.O.C.) |
Production
Information
Subject is engaged in manufacturing of circle knit and flat knit machines, etc.
Subject has a factory in New Taipei City, Taiwan for production.
It is introduced that subject also has a related factory “Pailung (Hubei) Manufacturing Co., Ltd” (about 120,000 square meters) in Mainland China for production.
Subject obtained certification of ISO 9001:2000.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
C801120 |
Synthetic fiber industry |
|
C805050 |
Industrial plastic products manufacturing |
|
C805070 |
Reinforced plastic products manufacturing |
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C805990 |
Other plastic products manufacturing |
|
CB01010 |
Machinery and equipment manufacturing |
|
JE01010 |
Rental services |
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F118010 |
Wholesales of information software |
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F218010 |
Retails of information software |
|
I301010 |
Services of information software |
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CD01030 |
Automobile and parts manufacturing |
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F114030 |
Wholesales of car and motorcycle spare parts |
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F214030 |
Retails of equipped with car, motorcycle parts |
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ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The raw materials and components for production are purchased from both home and abroad such as Taiwan, Mainland China, Japan and Europe, etc.
Subject is engaged in sales of circle knit and flat knit machines, etc.
Subject has own brand “PAILUNG”.
It is introduced that subject has won 229 patents.
It is introduced that subject’s selling territories include mainland China, Middle East, Southeast Asia, Europe and USA, etc.
It is introduced that subject’s products are mainly applied to apparel manufacture, garment accessory manufacture and upholstery manufacture, etc.
Major products
|
Type |
Item |
|
Circle Knit |
Single Knit, Double Knit, Rib Knit, Terry Knit, Special Frame, Special Frame, Ultra High Speed Series, etc. |
|
Flat Knit |
-- |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components |
T/T, Cash, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Components |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Machines, etc |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machines, 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. Xu declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
|
Name |
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
062599 |
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Debtor Name: |
Pai Lung Machinery Mill Co., Ltd. |
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Document Number: |
534363 |
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Date of Registration: |
1999-7-19 |
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Status: |
Paid off |
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2 |
|
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
064800 |
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Debtor Name: |
Pai Lung Machinery Mill Co., Ltd. |
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Document Number: |
564683 |
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Date of Registration: |
2000-1-31 |
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Status: |
Paid off |
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3 |
|
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
083413 |
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Debtor Name: |
Pai Lung Machinery Mill Co., Ltd. |
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Document Number: |
09405107000 |
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Date of Registration: |
2005-5-9 |
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Status: |
Paid off |
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4 |
|
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
099067 |
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Debtor Name: |
Pai Lung Machinery Mill Co., Ltd. |
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Document Number: |
09930253380 |
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Date of Registration: |
2010-1-12 |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Xu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.59 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
Report Prepared
by : |
SDA |
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.