MIRA INFORM REPORT

Report Date :

05.09.2014

IDENTIFICATION DETAILS

Name :	DAH BAH MACHINERY IND. INC.

Registered Office :	1F., No.69-10, Sec.2, Chung Shin Rd., Dali Dist., Taichung City 412, Taiwan (R.O.C.)

Country :	Taiwan

Date of Incorporation :	12.10.1977

Com. Reg. No.:	55763092

Legal Form :	Joint Stock Company

Line of Business :	Manufacturing and sale of machines.

No. of Employees :	70

RATING & COMMENTS

MIRA’s Rating :

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 – June 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Taiwan

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

Contact Points

Company Name:	Dah Bah Machinery Ind. Inc.
Former Name:	Dah Bah Machinery Industrial Inc.
Supplied Name:	DAH BAH MACHINERY INDUSTRIAL INC
Trading Address:	No.69-10, Sec.2, Chung Shin Rd., Dali Dist., Taichung City 412, Taiwan (R.O.C.)
Supplied Address:	NO 69-10 CHUNG SHIN ROAD, SEC.2, TALI, TAICHUNG, TAIWAN
Telephone Number:	+886-4-2483-2477
Fax Number:	+886-4-2483-0852
E-mail:	dahbah@dahbah.com.tw

Notes: The exact name and address are as above.

Company Identification Details

Registered Name:	Dah Bah Machinery Ind. Inc.
Registered Address:	1F., No.69-10, Sec.2, Chung Shin Rd., Dali Dist., Taichung City 412, Taiwan (R.O.C.)
Date of Foundation:	1977-10-12
Registration Number:	55763092
Registry:	Taichung City Government
Registered Capital:	NTD 61,000,000 (USD 2,074,000) (As of 2014.09, 1 NTD = 0.0340 USD)
Paid-up Capital:	NTD 61,000,000 (USD 2,074,000)
Legal Representatives:	Mingxiang Helai
Legal Form:	Joint Stock Company
Principal Activities:	Manufacturing and sale of machines.
Staff:	About 70 Employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	2014-7-11

History

Subject was incorporated on 1977-10-12 with registered number 55763092 as Joint Stock Company in Taiwan.

Change of Name

Former English Name:	Dah Bah Machinery Industrial Inc.
Current English Name:	Dah Bah Machinery Ind. Inc.

Corporate Structure

Factory

Address:	No.69-10, Sec.2, Chung Shin Rd., Dali Dist., Taichung City 412, Taiwan (R.O.C.)
Date of Foundation:	1985-4-6
Date of Registration:	1986-8-1
Factory Registration Number:	99633615
Factory Manager:	Mingxiang Helai
Status:	In Production
Date of Last Annual Return:	2005-8-11
Major Products:	291 metal processing machinery

Shareholders

Major Shareholders

Name	Subscription Shares
Mingxiang Helai
1,802,000
Youren He	810,000
Youhong He	757,000
Kongwen He	621,000

Management Information

Core Management

Directors

1
Name		Mingxiang Helai
Position		Board Chairman
2
Name	Youren He
Position		Director
3
Name	Youhong He
Position		Director
4
Name	Kongwen He
Position		Supervisor

Personnel Structure

Total Employees

About 70 Employees

Operation Information

Offices & Factories

	Headquarters
Add	No.69-10, Sec.2, Chung Shin Rd., Dali Dist., Taichung City 412, Taiwan (R.O.C.)

Production Information

l Subject is engaged in manufacturing of machines, etc.

l Subject has a factory in Taichung City, Taiwan for production.

l Subject obtained the certification of ISO 9001:2008.

Purchase Information

l The registered activities of subject:

1	Manufacturing and sale of all kinds of exhaust blower, packaging machine, bag machine, laminating machine, slitting machine, machine part and general metal machine
2	Import and export of above items

l The components and raw materials for production are mostly purchased in domestic market.

Sales Information

l Subject is engaged in sale of machines, etc.

l The major products sold by subject include slitting machine, roll rewinding / inspecting machine, bag making machine, PVC Shrinkable label making machine, cutting / sheeting machine, spout inserting and sealing machine and embossing machine, etc.

l Subject’s sales region covers all over the world.

l Subject’s major customers are Atlapac Corporation and Plastifoam Sa, etc.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase

Products	Components and raw materials
Payment Terms	Cash, T/T, etc

1. Import

Subject has little import.

Sales

1. Domestic Markets

Product	Machines, etc
Selling Terms	Cash, T/T, etc

2. Export

Product	Machines, etc
Selling Terms	L/C, T/T, etc

Financial Information

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. Chen declined to disclose its financials citing the grounds of company’s confidentiality; from other sources we could not obtain such information, either.

Bankers

Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.

Public Record

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.

Special Note

Interview Details

Name	Mr. Chen
Department	Sales Department

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.45
UK Pound	1	Rs.99.45
Euro	1	Rs.79.46

INFORMATION DETAILS

Analysis Done by :	DIV

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.