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Report No. : |
352285 |
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Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
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Name : |
LEADTEC CO., LTD. |
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Registered Office : |
No.27, Fu-Kon Road, Wan-Feng Village, Fi-Shing Township, Chang-Hua County, R.O.C |
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Country : |
Taiwan |
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Date of Incorporation : |
30.10.1980 |
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Com. Reg. No.: |
59272695 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of bicycle parts. |
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No. of Employees : |
About 40 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – 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 |
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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. 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.
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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.27, Fu-Kon
Road, Wan-Feng Village, Fi-Shing Township, Chang-Hua County, Taiwan, R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886- 4-769-1125 |
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Fax Number: |
+886- 4-769-7206 |
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E-mail: |
Note: The exact name and address are as above. The
supplied number +886-4-769-7206 is subject’s fax number.
Subject was incorporated
on 1980-10-30 with registered number 59272695
as Joint Stock Company in Taiwan.
Factory
|
Address: |
No.27, Fu-Kon Road, Wan-Feng Village,
Fi-Shing Township, Chang-Hua County, Taiwan, R.O.C. |
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Date of Foundation: |
1969-1-1 |
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Date of Registration: |
1979-11-2 |
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Factory Registration Number: |
99645254 |
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Factory Manager: |
Jinlong Li |
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Status: |
In production |
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Date of Last Annual Return: |
2006-7-12 |
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Major Products: |
251 Metal
hand tools and moulds |
Major Shareholders
|
Name |
Subscription Shares |
|
Jinlong Li |
807,460 |
|
Lanting Zheng |
|
|
493,630 |
|
|
Qincheng Li |
330,968 |
|
Xiuying Xu |
493,986 |
Core Management
Directors
|
1 |
||
|
Name |
Jinlong Li |
|
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Position |
Board Chairman |
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2 |
||
|
Name |
Lanting Zheng |
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Position |
Director |
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3 |
||
|
Name |
Qincheng Li |
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Position |
Director |
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4 |
||
|
Name |
Xiuying Xu |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 40 employees |
Offices & Factories
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|
Headquarters |
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Add |
No.27, Fu-Kon Road, Wan-Feng Village, Fi-Shing Township, Chang-Hua
County, Taiwan, R.O.C. |
Production Information
Subject is engaged in manufacturing of bicycle spare parts, etc.
Subject has a factory in Taiwan for production.
Purchase Information
The registered activities of subject:
|
1 |
Manufacturing and sale of parts of automobile, motorcycle, bicycle
accessories |
|
2 |
Manufacturing and sale of parts of shopping cart, luggage cart
(without power) |
|
3 |
Manufacturing and processing of molds |
|
4 |
Trading of machinery for manufacturing above products’ raw material |
|
|
Trading of above products’ raw material |
The components and raw material for production are mostly
purchased in domestic market.
Subject is engaged in sale of bicycle parts, etc.
The major products sold by the subject are handlebar,
handlebar, seatpost, clamp, bar end, foot treadle and basket, etc.
Subject’s sales regions include Taiwan domestic market,
Japan, Europe and America, etc.
One of subject’s customers is Trek Bicycle Corporation.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw material, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
Subject has little import.
Sales
Domestic Markets
|
Product |
Bicycle parts, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Bicycle parts, 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 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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1 |
|
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Case Type: |
Chattel Mortgage |
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Registered Number: |
JS(ZH)DZD111146 |
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Debtor Name: |
Leadtec Co., Ltd. |
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Registry: |
MOEA Central Office |
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Name of Mortgagee: |
Industrial Bank of Taiwan (literal translation) |
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Date of Registration: |
2015-1-21 |
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Amount of Secure Claims: |
NTD 5,180,000 |
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Type of Subject Matter: |
Machinery, equipment or tools |
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2 |
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Case Type: |
Chattel Mortgage |
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Registered Number: |
JS(ZH)DZD107277 |
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Debtor Name: |
Leadtec Co., Ltd. |
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Registry: |
MOEA Central Office |
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Name of Mortgagee: |
Land Bank of Taiwan |
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Date of Registration: |
2013-2-6 |
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Amount of Secure Claims: |
NTD 12,000,000 |
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Type of Subject Matter: |
Machinery, equipment or tools |
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3 |
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Case Type: |
Chattel Mortgage |
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Registered Number: |
64-102-424-1(02870) |
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Debtor Name: |
Leadtec Co., Ltd. |
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Registry: |
Directorate-General of Highways, MOTC |
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Name of Mortgagee: |
Land Bank of Taiwan |
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Date of Registration: |
2013-2-18 |
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Amount of Secure Claims: |
NTD 3,000,000 |
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Type of Subject Matter: |
Automobile, heavy-duty machine, bicycle
and trailer |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
|
Name |
Mr. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.62 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
|
TWD |
1 |
Rs.2.03 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.