|
Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SENHER PRECISION MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
6F., No.88, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
17.05.1999 |
|
|
|
|
Com. Reg. No.: |
16918203 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
· Subject operates as a liaison office for group at present. Engaged in manufacturing of machinery Engaged in installation of machinery Wholesaler of precise instrument Retailer of mechanical appliance |
|
|
|
|
No. of Employees |
About 10 Employees ( About 150 Employees (Group) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. In 2009, Taiwan's GDP contracted 1.8%, due primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%, as exports returned to the level of previous years, and in 2011, grew 4.0%. In 2012, however, growth fell to 1.3%, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but except for the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far Taiwan has been excluded from this greater economic integration in part because of its diplomatic status. Negotiations continue on such follow-on components of ECFA regarding trade in goods and services. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other key trade partners, which Taiwan subsequently launched with Singapore and New Zealand. 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 trade surplus largely because of its surplus with China, and its foreign reserves are the world's fifth largest, behind China, Japan, Saudi Arabia, and Russia. 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. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. 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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
6F., No.88, Changchun Rd., Lujhu Township,
Taoyuan County 338, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-3-222-3226 |
|
Fax Number: |
Notes: The exact name and address are as above, and
the supplied address is incomplete.
|
Credit Opinion: |
Subject was incorporated on 1999-5-17 with registered number 16918203 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Ziping Wang |
155,000 |
|
Jiannan Lin |
|
|
145,000 |
|
|
Zihui Wang |
10,000 |
|
Jiamei Lin |
4,000 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
Fujian Wellsun
Machinery Co., Ltd |
|
Address |
Xinghua Road, Xingtai
Economic Development Zone, Changtai County, Zhangzhou City, Fujian, China |
|
Principal
activities: |
Manufacturing
and sale of knitting machines, etc. |
|
Tel: |
+86-596-836-6588 |
|
Fax: |
+86-596-836-6288 |
|
2 |
|
|
Name |
Ya Man Da Co., Ltd
(Literal Translation) |
|
Address |
Xiamen City,
Fujian, China |
|
Tel: |
+86-592-5505-188 |
Core Management
|
1 |
|
|
Name |
Ziping Wang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jiannan Lin |
|
Position |
Director |
|
3 |
|
|
Name |
Zihui Wang |
|
Position |
Director |
|
4 |
|
|
Name |
Jiamei Lin |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 10
Employees (Taiwan office) About 150 Employees (Group) |
Offices & Factories
|
|
Headquarters |
|
Add |
6F., No.88, Changchun Rd., Lujhu Township, Taoyuan County 338, Taiwan
(R.O.C.) |
Operation Information
l
The
registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
|
CB01990 |
Manufacturing of other machinery (empty oil pressure machine and
parts) |
|
E604010 |
Machinery installation |
|
F113010 |
Wholesale of machinery |
|
F113030 |
Wholesale of precise instrument |
|
F213040 |
Retail of precise instrument |
|
F213080 |
Retail of mechanical appliance |
l
It is
introduced that subject operates as a liaison office for the group without
purchase and sales business and the main business of subject are to connect with
banks and process accounting files.
l
Subject’s
related company Fujian Wellsun Machinery Co., Ltd operates as group factory
which is engaged in manufacturing of knitting machines.
l
It is
introduced that the components for production are mostly purchased in mainland
China.
l
The
factory imports some technology from Japan and Germany.
l
The
major products manufactured by the factory include single jersey knitting
machines, double jersey knitting machines, single jersey open/end knitting
machines, towel machines, single knit 4/6 color striper, pile loop cut knitting
and computerized jacquard
l
Subject’s
another related company Ya Man Da Co., Ltd (Literal Translation) is engaged in
sales of the knitting machines and its sales include Asia, America, Africa and
Europe, etc.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
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. Jenny declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
Subject declined to disclose its bank details; from other source we cannot 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 |
Ms. Jenny |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.87 |
|
UK Pound |
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.