|
Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAINNHER MACHINE CO., LTD. |
|
|
|
|
Registered Office : |
1F., No.333, 28th Rd., Taichung Industrial Park, Taichung 407, Taiwan, R.O.C. |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
04.12.1982 |
|
|
|
|
Com. Reg. No.: |
97557600 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of machinery. |
|
|
|
|
No. of Employees : |
120 |
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: |
Jainnher Machine Co., Ltd. |
|
Supplied Name: |
JAINNHER MACHINE CO LTD |
|
Trading Address: |
No.333, 28th Rd., Taichung Industrial Park, Taichung 407,
Taiwan, R.O.C. |
|
Supplied Address: |
NO.333, 28TH RD, TAICHUNG INDUSTRIAL PARK, TAICHUNG TAIWAN 407 |
|
Telephone Number: |
+886-4-2358-5299 |
|
Fax Number: |
+886-4-2359 4803 |
|
E-mail: |
The exact name and address are as above.
Subject was incorporated on 1982-12-4
with registered number 97557600
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Zhaoxu Chen |
735,000 |
| Guoyuan Zhang |
533,000 |
|
Qiude Lai |
533,000 |
|
Wenjie Shen |
1,033,000 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No.333, 28th Rd., Taichung Industrial
Park, Taichung 407, Taiwan, R.O.C. |
|
Date of Registration: |
2005-10-24 |
|
Factory Registration Number: |
99702218 |
|
Factory Manager: |
Zhaoxu Chen |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
2009-1-21 |
|
Major Products: |
291
metal processing machinery |
Related Company
|
Name: |
Kunshan Jainnher Machine Co., Ltd. (Literal Translation) |
|
Address: |
Bldg
2, Shi Tai Long Mold City, Lujia Town, Kunshan City, Jiangsu Province, China |
|
Tel: |
+86-512-8186-7171 |
|
Fax: |
+86-512-8186-7979 |
|
Date
of Foundation: |
2010-4-22 |
|
Registration
Number: |
320583400043437 |
|
Registry: |
Suzhou
City Kunshan Industry and Commerce Bureau |
|
Registered
Capital: |
USD
210,000 |
|
Legal Representatives: |
Zhaoxu Chen |
|
Shareholder: |
Gain Up Technology Corp (Registered in Samoa) |
|
% of Shares: |
100% |
Core
Management
Directors
|
1 |
|
|
Name |
Zhaoxu Chen |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Guoyuan Zhang |
|
Position |
Director |
|
3 |
|
|
Name |
Qiude Lai |
|
Position |
Director |
|
4 |
|
|
Name |
Wenjie Shen |
|
Position |
Supervisor |
Personnel
Structure
|
Total
Employees |
About 120
Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.333, 28th Rd., Taichung Industrial Park, Taichung 407,
Taiwan, R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of machinery.
l
Subject has a factory (land area: 17,000
square meters; factory area: 11,130 square meters) Taichung, Taiwan for production.
l
Subject obtained the certification of
ISO 9001.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
|
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 mostly purchased in domestic market.
l Subject
is engaged in sale of machinery.
l
The major products sold by subject
include cylindrical grinder, centerless grinder, CNC internal grinder, center
hole grinder and so on.
l
Subject has their own brand “JAINNHER”.
l
Subject’s sales regions include
domestic market, Japan, South Korea, India, Southeast Asia, Europe and America,
etc.
l
Subject’s major customers are CF Fluid
Controls and Mighty Enterprise, Inc..
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components
and raw materials |
T/T, Cash |
100% |
Foreign
Purchase
Subject has
little import.
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Machinery, etc |
T/T, Cash |
100% |
Export
|
Terms |
Proportion |
|
|
Machinery, etc |
L/C, T/T |
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. Lv 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 |
Mr. Lv |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
|
1 |
Rs.98.40 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
PDT |
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.