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Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
LICO MACHINERY
CO., LTD. |
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|
|
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Registered Office : |
No.16, Ln. 50, Sec. 3, Hemu Rd., Wucuoli,
Qingshui Dist., Taichung City 436 |
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Country : |
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Date of Incorporation : |
18.11.1978 |
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Com. Reg. No.: |
43794846 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· Machinery and equipment manufacturing industry Other
machinery manufacturing industry (machine parts, lathe parts) Power
generation, transmission, distribution machinery manufacturing industry Electronic
components manufacturing industry |
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|
|
|
No of Employees : |
About 50 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Taiwan |
A2 |
A2 |
|
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 |
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Company Name: |
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|
Supplied Name: |
|
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Trading Address: |
No.1666 Chungshan Road., Shenken
Dist., Taichung, 429-55 Taiwan. |
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Supplied Address: |
|
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Telephone Number: |
+886-4-2563-0950 |
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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 1978-11-18 with registered number 43794846 as Joint Stock Company in Taiwan.
Factories
|
1 |
|
|
Address: |
No.16, Ln. 50, Sec. 3, Hemu Rd., Wucuoli, Qingshui Dist., Taichung City 436, Taiwan (R.O.C.) |
|
Date of Registration: |
2011-9-14 |
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Factory Registration Number: |
66000528 |
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Factory Manager: |
Gongxiong Zheng |
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Status: |
In production |
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Date of Last Annual Return: |
2014-3-4 |
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Major Products: |
291 Metal processing machinery equipment |
|
2 |
|
|
Address: |
No.1666 Chungshan Road., Shenken Dist., Taichung, 429-55 Taiwan. |
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Date of Foundation: |
2000-6-26 |
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Date of Registration: |
2000-8-15 |
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Factory Registration Number: |
99644521 |
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Factory Manager: |
Yinan Lin |
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Status: |
In production |
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Date of Last Annual Return: |
2003-5-14 |
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Major Products: |
293 General machinery equipment |
Major Shareholders
|
Name |
Subscription Shares |
|
Gongxiong Zheng |
19,322 |
|
Yinan Lin |
|
|
3,245 |
|
|
Guozeng Qiu |
1,680 |
|
Yiji Lin |
752 |
Core Management
Directors
|
1 |
||
|
Name |
Gongxiong Zheng |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Yinan Lin |
|
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Position |
Director |
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|
3 |
||
|
Name |
Guozeng Qiu |
|
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Position |
Director |
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|
4 |
||
|
Name |
Yiji Lin |
|
|
Position |
Supervisor |
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Personnel
Structure
|
Total Employees |
About 50 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.1666 Chungshan Road., Shenken Dist., Taichung, 429-55 Taiwan. |
Production
Information
· Subject is engaged in manufacturing of machinery and etc.
Subject
has two factories in Taiwan for production.
Subject
obtained the certification of ISO 9000.
Purchase
Information
· The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Machinery and equipment manufacturing industry |
|
CB01990 |
Other machinery manufacturing industry (machine parts, lathe parts) |
|
CC01010 |
Power generation, transmission, distribution machinery manufacturing industry |
|
CC01080 |
Electronic components manufacturing industry |
· The components and raw material for production are purchased both at home and abroad.
· Subject is engaged in sale of machinery and etc.
The
major products are CNC lathes, CAM wheel automatic lathes and so on.
Subject’s
sales regions cover Asia, Europe, America and etc.
Subject’s
major customers are manufacturers of metal components and etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
The components
and raw material |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
The components
and raw material |
|
Payment Terms |
L/C, T/T, etc. |
Sales
1.
Domestic Markets
|
Product |
Machinery and etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Machinery and etc. |
|
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 Mr. Zheng 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. Zheng |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.95 |
|
UK Pound |
1 |
Rs.99.32 |
|
Euro |
1 |
Rs.78.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.