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Report Date : |
15.10.2014 |
IDENTIFICATION DETAILS
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Name : |
THERMOTEK ADVANCED CORPORATION |
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Formerly Known As : |
TUSON CORPORATION |
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Registered Office : |
No.1, Aly. 15, Ln. 62, Zhonghe St., Zhubei City,
Hsinchu County 30267, (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
10.03.1990 |
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Com. Reg. No.: |
23630058 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of automobile parts, hydraulic
pressure components, temperature chamber and heat exchanger. |
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No of Employees : |
About 10 Employees (Department for
temperature chamber and heat exchanger) About 200 Employees (Group) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.1, Aly. 15,
Ln. 62, Zhonghe St., Zhubei City, Hsinchu County 30267, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-3-656-6298 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1990-3-10 with registered number 23630058 as Joint Stock Company in Taiwan.
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Former English Name: |
Tuson Corporation |
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Current English Name: |
Thermotek Advanced Corporation |
Related Companies
|
1 |
|
|
Name |
Tuson Corporation |
|
Address |
475 Bunker Court, Vernon Hills, IL 60061 |
|
Telephone Number |
+1-847-816-8800 |
|
Fax Number |
+1-847-816-8801 |
|
Principal activities |
Components to the automatic, electric motor, pump, and valve |
|
2 |
|
|
Name |
Tuson China (Dongguan) Machining Facility (Literal Translation) |
|
Address |
Liaobian Hongli Industrial Park, Liaobu Town, Dongguan City, Guangdong
Province, China |
|
Telephone Number |
+86-769-83222873 |
|
Fax Number |
+86-769-83222872 |
|
3 |
|
|
Name |
Tuson China (Suzhou) Machining Facility (Literal Translation) |
|
Address |
No.48, Dongfu Road, Suzhou Industrial Park, Jiangsu Province, China |
|
Telephone Number |
+86-512-6265-3210 |
|
Fax Number |
+86-512-6265-3201 |
Major Shareholders
|
Name |
Subscription Shares |
|
Shengsan Du |
420,000 |
|
Zongda Du |
100,000 |
|
Kunlong Du |
150,000 |
Core Management
Directors
|
1 |
||
|
Name |
Shengsan Du |
|
|
Position |
Board Chairman |
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2 |
||
|
Name |
Zongda Du |
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Position |
Director |
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3 |
||
|
Name |
Jumei Lidu |
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Position |
Director |
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4 |
||
|
Name |
Kunlong Du |
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Position |
Supervisor |
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Personnel
Structure
|
Total Employees |
About 10 Employees (Department for
temperature chamber and heat exchanger) About 200 Employees (Group) |
Offices & Factories
|
|
Headquarters |
|
Add |
No.1, Aly. 15, Ln. 62, Zhonghe St., Zhubei City, Hsinchu County 30267,
Taiwan (R.O.C.) |
Production
Information
·
Subject is a trader of automobile parts, hydraulic pressure components, temperature chamber and
heat exchanger.
Purchase
Information
·
The registered activities of subject:
|
Business Code |
Details |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
·
It is introduced that subject purchases its products
from Taiwan, the mainland of China, USA, Japan and etc.
·
It is introduced that subject imports temperature chamber and heat exchanger from
USA and the mainland of China.
·
Subject is engaged in sale of automobile parts, hydraulic pressure
components, temperature chamber and heat exchanger.
·
The major products include relief valves, motors,
gear case, chillers, heat exchangers and so on.
·
Subject’s sales regions cover Japan, Europe,
America and etc. It is introduced that subject just selling the chillers and
heat exchangers mainly in Taiwan domestic market.
·
Subject’s major customers are manufacturers of
automatic, electric motor, pump and valve industries, semi-conductors.
·
It is introduced that subject’s products are
applied to dry etch, wet etch, dry deposition, wet deposition, ion implant,
plasma asher, and planarization.
·
It is introduced that subject also provides the
maintenance and warranty repair services.
·
It is introduced that subject is a agent of the
chillers and heat exchangers with the brand name “NESLAB” in Taiwan.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1. Domestic Purchase
|
Products |
Automobile parts, hydraulic pressure
components |
|
Payment Terms |
Cash, T/T and etc |
2. Import
|
Products |
Automobile parts, hydraulic pressure
components, temperature chamber and heat exchanger |
|
Payment Terms |
L/C, T/T and etc |
Sales
1. Domestic Markets
|
Product |
Automobile parts, hydraulic pressure
components, temperature chamber and heat exchanger |
|
Selling Terms |
Cash, T/T and etc |
2. Export
|
Product |
Automobile parts, hydraulic pressure
components |
|
Selling Terms |
L/C, T/T and etc |
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. Maggie declined to
disclose its financials citing the grounds of company’s confidentiality; from
other sources we could not obtain such information, either.
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
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.
Interview Details
|
Name |
Ms. Maggie |
|
Department |
Sales Department for temperature chamber and
heat exchanger |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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Report Prepared
by : |
SMN |
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 |
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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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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.