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Report No. : |
334664 |
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Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
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Name : |
JIH HSING ELECTRIC APPARATUS MFG. CO., LTD. |
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Registered Office : |
No. 26, Lane 557,Chung Cheng Rd., Wufeng Dist., Taichung City 413, Taiwan (R.O.C.) |
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Country : |
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Date of Incorporation : |
27.12.1962 |
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Com. Reg. No.: |
51139203 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Trading of Plastic
Products and Related Equipment. |
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No. of Employees : |
About 145 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Taiwan |
A1 |
A1 |
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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. 26, Lane
557,Chung Cheng Rd., Wufeng Dist., Taichung City 413, Taiwan (R.O.C.) |
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Supplied Address: |
NO. 26, LANE 557
CHUNG CHENG RD WUFENG DIST., TAICHUNG CITY 413 TAIWAN |
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Telephone Number: |
+886-4-2339-1108 |
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Fax Number: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1962-12-27 with registered number 51139203
as Joint Stock Company in Taiwan.
Factory
|
Address: |
No. 26, Lane 557,Chung Cheng Rd., Wufeng
Dist., Taichung City 413, Taiwan (R.O.C.) |
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Date of Foundation: |
1974-7-6 |
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Factory Registration Number: |
99634666 |
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Factory Manager: |
Fangwu Xiao |
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Status: |
In Production |
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Date of Last Annual Return: |
2010-7-23 |
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Major Products: |
220 plasthetics 303 automobile components |
Related Companies
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FUJIAN JIH HSING PLASTICS PRODUCTS CO., LTD. Add︰Ling Jiao,Shang Jing,Fuqing Fuj Ian China Tel: 86-591-85621860 Fax: 86-591-85621862 GUANGZHOU JIH CHENG PLASTIC PRODUCTS CO., LTD. Add：no.3 ,laian2nd streel, yonghe economic
zone,guangzhou development zone, guang dong. China Tel: 86-20-82981156-61 Fax:
86-20-82981162/66 FUQING JIH CHIANG PLASTICS PRODUCTS CO., LTD. Add︰Ling Jiao,Shang Jing, Fuqing Fu Jian China Tel: 86-591-85621860 Fax:
86-591-85621862 |
Major Shareholders
|
Name |
Subscription Shares |
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Fangwu Xiao |
355,457 |
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Zaichuan Xiao |
424,994 |
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Shuili Jiang |
202,389 |
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Chongtang Lai |
1,409,872 |
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Yufu Xiao |
437,312 |
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Junsheng Xiao |
318,499 |
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Daoyong Xiao |
126,533 |
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Shunheng Xiao |
472,884 |
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Fangbin Xiao |
485,030 |
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Jiyu Fu |
43,300 |
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Fenzhu Jiang |
45,874 |
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Fangmo Xiao |
663,119 |
|
Xieyou Zhang |
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Core Management
Directors
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1 |
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Name |
Fangwu Xiao |
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Position |
Board Chairman |
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2 |
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Name |
Zaichuan Xiao |
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Position |
Executive Director |
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3 |
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Name |
Shuili Jiang |
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Position |
Executive Director |
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4 |
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Name |
Chongtang Lai |
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Position |
Director |
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5 |
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Name |
Yufu Xiao |
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Position |
Director |
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6 |
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Name |
Junsheng Xiao |
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Position |
Director |
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7 |
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Name |
Daoyong Xiao |
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Position |
Director |
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8 |
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Name |
Shunheng Xiao |
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Position |
Director |
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9 |
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Name |
Fangbin Xiao |
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Position |
Director |
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10 |
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Name |
Jiyu Fu |
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Position |
Director |
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11 |
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Name |
Fenzhu Jiang |
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Position |
Supervisor |
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12 |
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Name |
Fangmo Xiao |
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Position |
Supervisor |
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13 |
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Name |
Xieyou Zhang |
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Position |
Supervisor |
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14 |
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Name |
Yufu Xiao |
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Position |
Manager |
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Date of Appointment |
2007-6-28 |
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Personnel Structure
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Total Employees |
About 145 Employees (Taiwan) |
Offices & Factories
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Headquarters |
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Add |
No. 26, Lane 557,Chung Cheng Rd., Wufeng Dist., Taichung City 413,
Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of plastic products and related equipment and etc.
Subject has a factory in Taiwan for production. It is introduced that
subject’s related companies has factories in Guang Zhou City, Guangdong
Province and Xiamen City, Fujiang Province, the mainland of China.
Subject obtained the certification of ISO 9001:2000 and ISO 14000.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
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-- |
Manufacturing, processing and trading of cover of storage battery, bath,
clapboard, counter electrode and other electrical equipment. |
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-- |
Manufacturing, processing and trading of automobile components such as
related electric appliance. |
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Importing and exporting trading business of above related raw materials,
semi-finished product and finished products. |
Subject purchases its raw materials, components and etc both at home and
abroad.
It is introduced that subject purchases some products and etc from its
related companies in the mainland of China.
Subject is engaged in sale of plastic products and related equipment and
etc.
The major products include battery plastic container sets, computer
monitor casing & components, light lamp cover, vehicle plastic cover, sporting
goods, furniture and others, plastic materials used including PE, PP, ABS, PS,
PMMA and other engineering resins including flame retardant, injecting machine
capacity: shot weight range from 4.5 oz. With 80 ton clamping pressure to 375
oz. With 1680 ton clamping pressure and so on.
Subject’s sales regions include Asia, Europe, America and etc.
Subject’s major customers are manufacturers of cars and motorcycles,
computers and etc.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
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Products |
Raw materials, components |
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Payment Terms |
Interior settlements, T/T |
Import
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Products |
Raw materials, components |
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Payment Terms |
Sales
Domestic Markets
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Product |
Plastic products and related equipment |
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Selling Terms |
Interior settlements, T/T |
Export
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Product |
Plastic products and related equipment |
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Selling Terms |
L/C, T/T |
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. Xiao 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
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Case Type: |
Chattel Mortgage |
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File No.: |
065225 |
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Debtor Name: |
Jih Hsing Electric Apparatus Mfg. Co., Ltd. |
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Document Number: |
566563 |
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Date of Registration: |
2000-3-15 |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
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Name |
Mr. Xiao |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.64.00 |
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|
1 |
Rs.99.84 |
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Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.