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Report Date : |
02.09.2014 |
IDENTIFICATION DETAILS
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Name : |
ZITAI PRECISION MACHINERY CO., LTD. |
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Registered Office : |
No.172, |
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Country : |
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Date of Incorporation : |
28.01.1985 |
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Com. Reg. No.: |
56807040 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of cold chamber die casting
machine |
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No. of Employees |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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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.172, Hsi Tou Rd., Shengang Dist., Taichung City 429, Taiwan (R.O.C.) |
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Supplied Address: |
NO. 172, SHI TOU ROAD, SHEN KANG HSIANG TAICHUNG HSIEN TAIWAN |
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Telephone Number: |
+886-4-2561-1858 |
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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 1985-1-28 with registered number 56807040 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Songrun Zhan |
7,327 |
|
Weizhong Lan |
5,280 |
|
Henglin Gu |
5,280 |
|
Yongkun Guo |
6,560 |
Note: The information above is that of subject’s major shareholders.
Related Company
|
Name |
Ningbo Zitai Precision Machinery Co.,Ltd |
|
Address |
No.558 Mingzhou W. Road, Beilun, Ningbo, Zhejiang Province, China |
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Registered Number |
330200400028589 |
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Date of Foundation |
2001-8-22 |
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Registered Capital |
USD 6,000,000 |
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Telephone Number |
+86-574-8680-5888 |
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Fax Number |
+86-574-8680-5860 |
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Principal Activities |
Research, development and manufacture die casting technique, new process materials, die casting mould, melted equipment of die casting machine and its ancillary equipment |
Factory
|
Address: |
No.172, Hsi Tou Rd., Shengang Dist., Taichung City 429, Taiwan |
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Date of Foundation: |
1992-4-14 |
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Date of Registration: |
1992-4-27 |
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Factory Registration Number: |
99635005 |
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Factory Manager: |
Songrun Zhan |
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Status: |
In Production |
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Date of Last Annual Return: |
2002-2-25 |
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Major Products: |
293 General machinery and equipment |
Core Management
Directors
|
1 |
|
|
Name |
Songrun Zhan |
|
Position |
Chairman of the Board |
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2 |
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Name |
Weizhong Lan |
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Position |
Director |
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3 |
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Name |
Henglin Gu |
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Position |
Director |
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4 |
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Name |
Yongkun Guo |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 100 Employees |
Offices & Factories
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Headquarters |
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Add |
No.172, Hsi Tou Rd., Shengang Dist., Taichung City 429, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of cold chamber die casting machines, etc.
Subject has a factory in Taichung City of Taiwan for production.
Purchase Information
The registered activities of subject:
|
|
Details |
|
1 |
The manufacturing processing and sale of business of Qu hand type injection molding machine, direct pressure injection molding machine, oil pressure aluminum die casting machine, hot type full automatic die casting machine all kinds of oil pressure single machines and its parts. |
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2 |
The importing, exporting and investment business, etc |
The components and raw materials for production are mostly purchased at domestic market.
Subject is engaged in sale of cold chamber die casting machines, etc.
The major products of the subject include die casting machine, gravity casting machine, peripherial equipment such as ZLB series-auto ladler, ZSP series-auto sprayer, ZPU series-auto extractor, etc.
The sales regions of the subject are domestic market and abroad.
Subject’s products are mainly used in manufacturing of cash register, gramophone, bikes, etc.
It is introduced that subject has its owned brand named “ZITAI”.
The agents of the subject are mainly as follows:
|
Brazil |
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Russia |
CYBERTECH TAIWAN Inc. |
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Argentina |
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Mexico |
FERZIJ , S.A. de C.V. |
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Thailand |
IRD ENGINEERING CO., LTD. |
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India |
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Turkey |
GENERAL MAKINA |
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Colombia |
IMOCOM S.A. |
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Chile |
RAUL CARNERO Y CIA. LTDA. |
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Germany |
DRUCKGUSS SERVICE DEUTSCHLAND GMBH |
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China Mainland |
Shanghai Office of Ningbo Zitai Precision Machinery Co., Ltd |
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Dongguan Office of Ningbo Zitai Precision Machinery Co., Ltd |
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Qingdao Office of Ningbo Zitai Precision Machinery Co., Ltd |
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Components and raw materials, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
Subject has little import
Sales
Domestic Markets
|
Product |
Cold chamber die casting machines, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Cold chamber die casting machines, etc. |
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Selling Terms |
L/C, T/T, 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 declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
Subject did not introduce its bank details; from other source we can 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.
|
Name |
Mr. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.42 |
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Euro |
1 |
Rs.79.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.