|
Report No. : |
335564 |
|
Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SEN HUANG MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
No.9, Lane 196, Chung Shan 2nd Rd., Luzhou Dist., New Taipei City 247, |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
14.12.1978 |
|
|
|
|
Com. Reg. No.: |
5940021 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing of knitting
machine. |
|
|
|
|
No. of Employees : |
Not Available |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Taiwan |
A1 |
A1 |
|
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. 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.
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.
However, follow-on components of the ECFA, including a signed agreement on
trade in services and negotiations on trade in goods and dispute resolution,
have stalled. In early 2014, the government bowed to public demand and proposed
a new law governing the oversight of cross-Strait agreements, before any
additional deals with China are implemented; the legislature has yet to vote on
such legislation, leaving the future of ECFA up in the air as President MA
enters his final full year in office. MA has portrayed ECFA as Taiwan’s key to
greater participation in East Asia’s free trade networks.
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 expected to account for nearly 20% of the island's
total population by 2025.
The
island runs a trade surplus, largely because of its surplus with China, and its
foreign reserves are the world's fifth largest, behind those of China, Japan,
Saudi Arabia, 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, the
Taiwan Central Bank signed a memorandum of understanding (MOU) 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 has
helped Taiwan develop into a local RMB hub.
Closer
economic links with the mainland bring greater opportunities for Taiwan’s
economy but also pose new challenges as the island becomes more economically
dependent on China at a time when political differences remain unresolved.
During 2014, the press paid increasing attention to domestic economic issues,
while pushing aside the debates over trade liberalization that were a hallmark
of MA’s tenure. The media focused on the divide between Taiwan’s “haves” and
“have nots,” providing extensive coverage of public frustration with stagnant
wages, skyrocketing housing prices, and the difficulty of finding decent
entry-level jobs.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.9, Lane 196,
Chung Shan 2nd Rd., Luzhou Dist., New Taipei City 247, Taiwan (R.O.C.) |
|
Supplied Address: |
NO.9, LN.196,
CHUNG SHAN 2ND RD, LUZ ZHOU DIST. TAIPEI 247, TAIWAN |
|
Telephone Number: |
+886-2-8292-5588/ 2-8282-7036 |
|
Fax Number: |
Notes: The exact name and address are as above.
|
Registered Name: |
Sen Huang Machinery Co., Ltd. |
|
Registered Address: |
No.9, Lane 196, Chung Shan 2nd Rd., Luzhou Dist.,
New Taipei City 247, Taiwan (R.O.C.) |
|
Date of Foundation: |
1978-12-14 |
|
Registration Number: |
35940021 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
(As of 2015.08, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 5,000,000 (USD 160,000) |
|
Legal Representatives: |
Yuquan Lin |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed
at Stock Exchange: |
|
|
Date
of Last Annual Return: |
Notes: Subject declined to disclose its staff number; from other
source we cannot obtain the relevant information, either.
Subject was
incorporated on 1978-12-14 with registered number 35940021 as Joint Stock Company in Taiwan.
Factory
|
Address: |
1F, No.9, Lane 196, Chung Shan 2nd Rd., Luzhou
Dist., New Taipei City 247, Taiwan (R.O.C.) |
|
Date
of Foundation: |
1993-12-13 |
|
Date
of Registration: |
1994-1-26 |
|
Factory
Registration Number: |
99609326 |
|
Factory Manager: |
Yuquan
Lin |
|
Status: |
In
production |
|
Date of Last Annual Return: |
2015-6-10 |
|
Major Products: |
292
other special developing machinery 293
general machinery 251metal
hand tools and molds. |
Major Shareholders
|
Name |
Subscription Shares |
|
Yuquan
Lin |
1,000
|
|
Jinyi
Lin |
2,200
|
|
Yubei
Lin |
300
|
|
Laixiang
Shilin |
900
|
Core Management
Directors
|
1 |
||
|
Name |
Yuquan
Lin |
|
|
Position |
Board
Chairman |
|
|
2 |
||
|
Name |
Jinyi
Lin |
|
|
Position |
Director
|
|
|
3 |
||
|
Name |
Yubei
Lin |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Laixiang
Shilin |
|
|
Position |
Supervisor
|
|
Offices & Factories
|
|
Headquarters |
|
Add |
No.9, Lane 196, Chung Shan 2nd Rd., Luzhou Dist., New Taipei City 247,
Taiwan (R.O.C.) |
Production
Information
Subject
is engaged in manufacturing of knitting
machine .
Subject
has a factory in Taiwan for production.
Purchase Information
The
registered activities of subject:
|
|
Details |
|
-- |
Manufacturing,
processing and trading of many kinds of machinery (knitting machine, knitting
loom, sewing machine and fabric cutting machine) |
Subject
purchases its components both at home and abroad.
It
is introduced that subject imports some components from Germany, Japan and.
·
Subject
is engaged in sale of knitting machine.
·
The
major products include Computerized Flat Knitting Machine, Computerized Flat
Knitting Machine, Computerized Flat Knitting Machine, Hand Driven Knitting
Machine, Dial Linking Machine, Automatic Washer, Hydro Extractor, Strap
Knitting Machine, Tumbler Dryer.
·
Subject’s
sales regions include Asia, Europe, America.
·
Subject’s
major customers are textile industry.
·
It
is introduced that subject has its own brand named “Flying Horse”.
·
It
is introduced that subject can provide OEM services.
Import
and export right:
|
Import
right |
Yes |
|
Export
right |
Yes |
Purchase
Domestic
Purchase
|
Products |
Components |
|
Payment Terms |
Cash, T/T |
Import
|
Products |
Components |
|
Payment Terms |
L/C, T/T |
Sales
Domestic
Markets
|
Product |
Knitting machine |
|
Selling Terms |
Cash, T/T |
Export
|
Product |
Knitting machine |
|
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. Lin declined to disclose
its financials citing the grounds of company’s confidentiality; from other
sources we could not obtain such information, either.
|
Name |
Hua
Nan Bank |
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. Lin |
|
Position |
Manager |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
UK Pound |
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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.