|
Report No. : |
352550 |
|
Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHANG DER FIRE PROTECTIONS CORP. |
|
|
|
|
Registered Office : |
No.788, Hexian Rd., Xianxi
Township, Changhua County 50743 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
20.08.1986 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of firefighting
equipment |
|
|
|
|
No. of Employee : |
80 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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: |
|
|
Former Name: |
Jang Der Industrial Co., Ltd. |
|
Supplied Name: |
|
|
Trading Address: |
No.788,
Hexian Rd., Xianxi Township, Changhua County 50743, Taiwan |
|
Supplied Address: |
|
|
Telephone Number: |
+886-4-758-8168 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as above.
Subject
was incorporated on 1986-5-20 with registered number 22132384 as Joint Stock
Company in Taiwan.
Factory
|
Address: |
No.788, Hexian Rd., Xianxi Township,
Changhua County 50743, Taiwan |
|
Date of Registration: |
2014-6-19 |
|
Factory Registration Number: |
07001231 |
|
Factory Manager: |
Jinwang Shi |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-6-19 |
|
Major Products: |
253 metal container 259 other metal products 272 communications equipment 273 audio and video electronic products 284 lightning equipment 289 other power equipment 293 general machinery equipment |
Major Shareholders
|
Name |
Subscription Shares |
|
Jinwang Shi |
|
|
3,817,480 |
|
|
Jinxiu Ke |
6,719,640 |
|
Fukai Shi |
3,451,440 |
|
Shenglong Chen |
436,000 |
|
Chongwen Ji |
2,180,000 |
Core Management
Directors
|
1 |
||
|
Name |
Jinwang Shi |
|
|
Position |
Chairman of the Board |
|
|
2 |
||
|
Name |
Jinxiu Ke |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Fukai Shi |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Shenglong Chen |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Chongwen Ji |
|
|
Position |
Supervisor |
|
Personnel Structure
|
Total Employees |
About 80 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.788, Hexian Rd., Xianxi Township, Changhua
County 50743, Taiwan |
Production Information
Subject is engaged in manufacturing of firefighting equipment.
Subject has a factory in Taiwan for production.
Subject obtained the certification of ISO 9001 and ISO 9002.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CA01020 |
Steel rolling delay and extrusion industry |
|
CA01030 |
Iron and steel foundry industry |
|
CA01090 |
Aluminum casting industry |
|
CA01100 |
Aluminum rolling, delay type wire, drawing crowded industry |
|
CA01120 |
Copper casting industry |
|
CA01130 |
Copper rolling, delay type wire, drawing crowded industry |
|
CA02050 |
Valve manufacturing |
|
CA02060 |
Metal container manufacturing |
|
CA02080 |
Metal forging industry |
|
CA02990 |
Other metal products manufacturing |
|
CB01010 |
Machinery and equipment manufacturing |
|
CB01990 |
Other machinery manufacturing |
|
CC01010 |
Electricity generation, transmission and distribution machinery
manufacturing |
|
CC01040 |
Lighting equipment manufacturing |
|
CC01990 |
Other mechanical electrical and electronic equipment
manufacturing industry |
|
CD01030 |
Automobiles and related parts manufacturing |
|
CZ99990 |
Unclassified other industrial products manufacturing |
|
F106040 |
Water materials wholesaling |
|
F113010 |
Mechanical wholesaling |
|
F113020 |
Electrical wholesaling |
|
F113090 |
Traffic signs equipment wholesaling |
|
F113110 |
Battery wholesaling |
|
F114010 |
Automobiles wholesaling |
|
F114030 |
Automobile and motorcycle parts wholesaling |
|
F117010 |
Fire safety equipment wholesaling |
|
F206030 |
Die retail |
|
F206040 |
Water materials retail |
|
F213010 |
Electrical appliance retailing |
|
F213080 |
Mechanical equipment retail |
|
F213090 |
Traffic signs equipment retail |
|
F213110 |
Battery retail |
|
F217010 |
Fire safety equipment retail |
|
F401010 |
The international trade |
The components and raw materials for production are purchased both
at home and abroad.
Subject is engaged in sale of firefighting equipment.
The major products include fire sprinklers, valves and systems,
foam products, fire hose couplings, hose valves, nozzles, fire department
connections, brass adapters, brass adapters, brass caps and plugs, ground fire
hydrant, electrical products.
Subject’s sales regions are domestic market and abroad.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Components and raw materials |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Components and raw materials |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Firefighting equipment |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Firefighting equipment |
|
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. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.67 |
|
TWD |
1 |
Rs.2.05 |
Note :
Above are approximate rates obtained from sources believed to be correct
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 |
-- |
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.