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Report No. : |
336710 |
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Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
JIEH HONG MACHINERY CO., LTD. |
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|
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Registered Office : |
No.239, Ln. 170, Guangxing St., Yongkang Dist., Tainan City 710 |
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Country : |
Taiwan |
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Date of Incorporation : |
28.07.1992 |
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Com. Reg. No.: |
86807150 |
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Legal Form : |
Joint Stock Company |
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|
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Line of Business : |
Manufacturing and trading of
beverage machines |
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|
|
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No. of Employees : |
30 |
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 |
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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) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
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Company Name: |
|
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Supplied Name: |
|
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Trading Address: |
No.239,
Ln. 170, Guangxing St., Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
|
Supplied Address: |
NO 239,LN
170,GUANGXING ST. YONGKANG DIST TAINAN CITY 710,TIWAN ROC |
|
Telephone Number: |
+886-6-271-7863 |
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Fax Number: |
Note: The exact name is as above.
|
Registered Name: |
Jieh Hong Machinery Co., Ltd. |
|
Registered Address: |
No.239, Ln. 170, Guangxing St.,
Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
|
Date of Foundation: |
1992-7-28 |
|
Registration Number: |
86807150 |
|
Registry: |
Tainan City Government |
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Registered Capital: |
(As of 2015.8, 1 NTD = 0.0321 USD) |
|
Paid-up Capital: |
NTD 10,000,000 (USD 321,000) |
|
Legal Representatives: |
Qinglin Guo |
|
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 1992-7-28 with registered number 86807150 as Joint
Stock Company in Taiwan.
Related Company
|
Name |
Kunshan Kuohua Xinhonest Mechanical Science
and Technology Co., Ltd. (literal translation) |
|
Address |
No. 30, Dong Su Ke Rd., Dashi, Zhangpu
Town, Kuanshan, Jiangsu Province, China |
|
Tel |
+86-512-5798-3190 |
|
Fax |
+86-512-5798-3197 |
Major Shareholders
|
Subscription Shares |
|
|
Qinglin Guo |
1,188 |
|
Jiaren Chen |
|
|
1,188 |
|
|
Zhicheng Wang |
1,188 |
|
Liangyu Chen |
1,188 |
|
Congyong Lin |
1,188 |
Core
Management
Directors
|
1 |
||
|
Name |
Qinglin Guo |
|
|
Position |
Board Chairman |
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|
2 |
||
|
Name |
Jiaren Chen |
|
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Position |
Director |
|
|
3 |
||
|
Name |
Zhicheng Wang |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Liangyu Chen |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Congyong Lin |
|
|
Position |
Supervisor |
|
Personnel
Structure
|
Total Employees |
About 30 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.239, Ln. 170, Guangxing St., Yongkang Dist.,
Tainan City 710, Taiwan (R.O.C.) |
Production
Information
·
Subject is engaged in manufacturing of beverage machines.
·
It is introduced that subject has factories in Taiwan and Mainland
China for production, but detail cannot be available from local registry or any
other resources.
Purchase
Information
·
The registered activities of subject:
|
1 |
Manufacturing and sale of food machinery, beverage
machinery, leather machinery, chemical machinery, machinery and equipment |
|
2 |
Trading of the above products |
·
The components and raw material for production are mostly
purchased in domestic market.
·
It is introduced that subject also
purchases some finished products from the factory of related company in
Kunshan, Mainland China.
·
Subject is engaged in sale of beverage machines.
·
Subject’s sales regions include domestic market, Hong Kong,
Mainland China, Japan, America, Africa, Middle East, New Zealand, Australia,
India.
·
Subject’s major types of customers are manufacturers of mineral
water, all kinds of fruit juice and beverage, Soy sauce and wine
·
It is introduced that subject has many customers at home and
abroad, and we obtained subject’s major customers are as following for
reference:
|
Customer Name |
|
|
Taiwan |
President Enterprises Corp. Union Corporation Enterprise PAOLYTA Co., Ltd. C.S.C. Foods MDF Co., Ltd. Over Tower Enterprise Co., Ltd. |
|
Mainland China |
Li-Sha Co., Ltd Chang Quan Co., Ltd. Triowin Technology Corp. Full Tin Food Co., Ltd. Zhangzhou Best Well Food Co., Ltd |
|
Japan |
NISSEI KAKO CO., LTD Fu Shan Beverages |
|
South Korea |
Qun Chun Company DJA Corporation |
|
Middle East |
HOPE Saudi Juice Factory Zahir Oil Industry National Co. For Vegetable Oil &
Ghee Ind. (SYC) Yemen Dairy & Juice Ind. IPACK International Co., Ltd. Sama Food Industries Co. |
Major
Products
|
Types |
Products |
|
The front process system |
Water Treatment equipment Mixing equipment Sterilization System(UHT) Central CIP Unit Tea Extracting System |
|
Packing equipment |
Air Conveyor Rinser Machine Filler Machine Capper Machine Case Packer Packer/Unloading Machine Palletizer Machine Cooling Tunnel Labeler Machine |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw material. |
|
Payment Terms |
T/T, Cash |
Import
Subject has little import.
Sales
Domestic Markets
|
Product |
Beverage machines. |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Beverage machines |
|
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 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. Lin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
UK Pound |
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
-- |
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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.