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Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
JIANN SHENG MACHINERY & ELECTRIC INDUSTRIAL CO., LTD. |
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Registered Office : |
No.8, 12th Rd., Industrial Park, Taichung |
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Country : |
Taiwan |
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Date of Incorporation : |
18.01.1982 |
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Com. Reg. No.: |
55946537 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of machines |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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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 |
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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 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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: |
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Supplied Name: |
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Trading Address: |
|
|
Supplied Address: |
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Telephone Number: |
+886-4-2359-3791/2359-3733/2359-3717 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as
above.
Notes: Subject declined
to disclose the number of staff, and from other source we cannot obtain the
information, either.
Subject was incorporated
on 1982-1-18 with registered number 55946537 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Tiangui Liang |
1,300,000 |
|
Wenling Zhang |
|
|
1,750,000 |
|
|
Jialing Xie |
500,000 |
The information above is that of subject’s major shareholders.
Factory
|
Address: |
No. 8, Industrial Park 12 Rd., Xiehe Li, Xitun Dist., Taichung City,
Taiwan |
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Date of Foundation: |
1987-10-29 |
|
Date of Registration: |
1988-10-28 |
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Factory Registration Number: |
99670045 |
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Factory Manager: |
Tiangui Liang |
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Status: |
In Production |
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Date of Last Annual Return: |
2009-4-22 |
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Major Products: |
291 machineries for processing metals |
Related Company
|
Name |
Jiann Sheng (Hangzhou) Machinery & Electric Industrial Co., Ltd. |
|
Address |
Hangzhou, China |
|
Tel |
+86-571-8287-0730 |
|
Fax |
+86-571-8287-0672 |
Office
|
Name |
Sales and Technical Service Centre |
|
Address |
Guangdong, China |
|
Tel |
+86-769-8535-0569 |
|
Fax |
+86-769-8535-0569 |
Core Management
Directors
|
1 |
|
|
Name |
Tiangui Liang |
|
Position |
Chairman of the Board |
|
2 |
|
|
Name |
Wenling Zhang |
|
Position |
Director |
|
3 |
|
|
Name |
Jialing Xie |
|
Position |
Director |
|
4 |
|
|
Name |
Qiduan Zhang |
|
Position |
Supervisor |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
·
Subject is engaged in manufacturing of machines
·
Subject has a factory in Taiwan for production.
·
Subject obtained the certification of ISO 9001.
Purchase
Information
The registered activities of subject:
|
|
Details |
|
1 |
Manufacturing and sale of electrical discharge machines and related
parts. |
|
2 |
Manufacturing and sale of kinds of machines and related parts. |
|
3 |
Import and export of the above products. |
The components and raw materials for production are both purchased at
home and abroad.
·
Subject is engaged in sale of machines
·
The major products sold by subject include
electrical discharge machines, wire cut electrical discharge machines and
drilling electrical discharge machines
·
Subject’s sales regions include domestic market, Korea,
Philippines, Vietnam, India, Thailand, US, Canada, Britain, Germany, France,
Spain, Italy
·
It is introduced that subject has service office in
Mainland China.
·
Subject’s major customers are manufactures of metal
products
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Terms |
Proportion |
|
|
Components and
raw materials |
T/T, Cash |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Components and raw
materials |
L/C, T/T |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Machines |
T/T, Cash |
100% |
Export
|
Terms |
Proportion |
|
|
Machines |
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 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. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
UK Pound |
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.