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Report Date : |
10.09.2014 |
IDENTIFICATION DETAILS
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Name : |
AXISCO PRECISION MACHINERY CO., LTD. |
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Registered Office : |
No.9, Lane 15,
Holi St., Taiping Dist., Taichung City 411, |
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Country : |
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Date of Incorporation : |
04.08.1984 |
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Com. Reg. No.: |
52817829 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and
sale of machines and parts |
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No. of Employees |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.9, Lane 15, Holi
St., Taiping Dist., Taichung City 411, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-4-2270-3188 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact
name and address are as above.
|
Registered Name: |
AXISCO PRECISION MACHINERY CO., LTD. |
|
Registered
Address: |
No.9, Lane 15,
Holi St., Taiping Dist., Taichung City 411, Taiwan (R.O.C.) |
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Date of
Foundation: |
1984-8-4 |
|
Registration
Number: |
52817829 |
|
Registry: |
Taichung City
Government |
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Registered
Capital: |
(As of 2014.09, 1
NTD = 0.0340 USD) |
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Paid-up Capital: |
NTD 23,000,000
(USD 782,000) |
|
Legal
Representatives: |
Mingjie Huang |
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Legal
Form: |
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Principal
Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated on 1984-8-4
with registered number 52817829 as
Joint Stock Company in Taiwan.
Change of Name
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Former Chinese Name: |
成祐機械有限公司 |
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Current Chinese Name: |
成祐精機股份有限公司 |
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Former English Name: |
Chan Yow Machinery
Co., Ltd. |
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Current English Name: |
Axisco Precision
Machinery Co., Ltd. |
Factory
|
Address: |
No.9,
Lane 15, Holi St., Taiping Dist., Taichung City 411, Taiwan (R.O.C.) |
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Date of Foundation: |
1989-3-30 |
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Date of Registration: |
1990-3-1 |
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Factory Registration Number: |
99634015 |
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Factory
Manager: |
Guanlin Huang |
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Status: |
In Production |
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Date
of Last Annual Return: |
2007-1-25 |
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Major
Products: |
291 metal processing machinery 292 other special-purpose
mechanical device 293 general machinery 312 motor and parts 313 bicycle and parts |
Major Shareholders
|
Name |
Subscription Shares |
|
Mingjie Huang |
|
|
1,960,000 |
|
|
Licai Huang |
130,000 |
|
Yuxian Huang |
105,000 |
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Lihong Huang |
105,000 |
Core Management
Directors
|
1 |
||
|
Name |
Mingjie Huang |
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Position |
Board Chairman |
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2 |
||
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Name |
Licai Huang |
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Position |
Director |
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3 |
||
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Name |
Yuxian Huang |
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Position |
Director |
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4 |
||
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Name |
Lihong Huang |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 30 Employees |
Offices & Factories
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|
Headquarters |
|
Add |
No.9, Lane 15, Holi St., Taiping Dist., Taichung City 411, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing
of machines and related parts, etc.
Subject has a factory in Taichung City, Taiwan for production.
Subject obtained the certification
of ISO 9001:2008.
Purchase Information
The registered activities
of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
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CA02990 |
Manufacturing of other metal products |
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CD01050 |
Manufacturing of bicycle and parts |
|
CD01040 |
Manufacturing of motor and parts |
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CD01030 |
Manufacturing of automobile and parts |
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CP01010 |
Manufacturing of hand tools |
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CA02050 |
Manufacturing of valves |
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CC01080 |
Manufacturing of electronic components |
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F401010 |
International trade business |
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ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The components and raw materials
for production are mostly purchased in domestic market.
Subject
is engaged in sale of machines and related parts, etc.
Subject’s major products include grinding
machine, special purpose machine, broaching machine, deep hole drilling machine
and related parts, etc.
The products are applied to the
industries of car, motorcycle, bicycle, rubber, hand tool and hardware, etc.
Subject’s sales region covers all over
the world.
Subject’s major customers are
Innoveyor Inc, Zdf Imp.& Exp.,Llc, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Components and raw materials |
|
Payment Terms |
Cash, T/T, etc |
Import
Subject has little
import.
Sales
Domestic Markets
|
Product |
Machines and
parts, etc |
|
Selling Terms |
Cash, T/T, etc |
Export
|
Product |
Machines and
parts, etc |
|
Selling Terms |
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 Mr. Huang 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 |
Mr. Huang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.42 |
|
|
1 |
Rs.97.24 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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 |
|
|
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.