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Report No. : |
352916 |
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Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SHE HONG INDUSTRIAL CO., LTD. |
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Registered Office : |
No.6, Road 6, Industrial Area, Taichung
Taiwan R.O.C. |
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Country : |
Taiwan |
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Date of Incorporation : |
23.12.1970 |
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Com. Reg. No.: |
51321357 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sales of CNC Machine |
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No. of Employees : |
About 600 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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
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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. 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: |
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Supplied Address: |
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Telephone Number: |
+886-4-2359-2747 |
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Fax Number: |
+886-4-2359-2837 |
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E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated on
1970-12-23 with registered number 51321357
as Joint Stock Company in Taiwan.
Factory
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1 |
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Address: |
No.6, Road 6, Industrial Area, Taichung Taiwan R.O.C. |
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Date of Foundation: |
1981-7-15 |
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Date of Registration: |
1985-9-9 |
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Factory Registration Number: |
99669169 |
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Factory Manager: |
Guanling Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2012-3-27 |
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Major Products: |
291 metal processing machinery |
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2 |
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Name: |
The 3rd Factory |
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Address: |
No. 3. Jingke North Road, Wenshan Li, Nantun
District, Taichung City, Taiwan, R.O.C. |
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Date of Registration: |
2010-4-8 |
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Factory Registration Number: |
99720656 |
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Factory Manager: |
Guanling Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2012-3-27 |
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Major Products: |
291 metal processing machinery 292 other special machinery |
Note: It is introduced that subject also has a
factory in Thailand, but we cannot find any relevant information from any
sources.
Major Related
Company
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Name: |
Hartford Motors Co., Ltd |
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Address: |
No.3 JingKe N. Rd., Nantun Dist., Taichung City 40852 Taiwan |
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Tel: |
+886-4-2359-9218 |
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Fax: |
+886-4-2359-3673 |
Major Shareholders
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Name |
Subscription Shares |
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Guanjun Chen |
118,857 |
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Shu You |
132,576 |
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Pinwan Chen |
118,857 |
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Jianzhi Chen |
86,726 |
Core Management
Directors
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1 |
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Name |
Guanjun Chen |
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Position |
Board Chairman |
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2 |
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Name |
Shu You |
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Position |
Director |
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3 |
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Name |
Pinwan Chen |
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Position |
Director |
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4 |
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Name |
Jianzhi Chen |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 600 Employees |
Offices & Factories
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Headquarters |
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Add |
Production Information
Subject is engaged in manufacturing of CNC machine
Subject has two factories in Taichung, Taiwan (about 70,000 square meters)
and one factory in Thailand for production.
Subject’s annual production capacity of CNC machine is about 2,400
units.
Subject obtained the certification of ISO 9002.
It is introduced that subject has 80 processing equipment for
production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
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-- |
Manufacturing, processing, and sales of automobile, motor, and machine
element |
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-- |
Manufacturing, processing, and sales of ironmongery |
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-- |
Manufacturing, processing, and sales of all kinds of machinery and
hardware tool |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject purchases its components and etc both at home and abroad.
It is introduced that subject imports from Japan and Germany.
It is introduced that subject purchases some components and etc in
Taiwan domestic market.
Subject is engaged in sale of CNC machine
The major products include Vertical machining center, Multi-Surface
Double Column machining center, Horizontal machining center, Special Purpose
machining center, Double column machining center, Moving Crossbeam Machining
Center, Precision Boring & Milling, Axis machining center and so on.
Subject’s sales regions include Asia, Middle East, Africa, Europe,
America and Australia, etc.
Subject’s major customers are machine building industry.
It is introduced that subject has own brand named “Hartford”
It is introduced that subject has many customers such as Pratt Whitney,
General Electric, Toyota, Honda, I.A.I 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 |
Components |
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Payment Terms |
Cash, T/T |
Import
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Products |
Components |
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Payment Terms |
L/C, T/T |
Sales
Domestic Markets
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Product |
CNC machine |
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Selling Terms |
Cash, T/T |
Export
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Product |
CNC machine |
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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. Cai 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
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1 |
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Trial Number: |
2012, Zhonglaojian,54 |
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Date of Trial: |
2012-12-26 |
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Reason: |
Severance pay |
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Claimant: |
Yuhui Chen |
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Defendant: |
She Hong Industrial Co., Ltd. |
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2 |
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Trial Number: |
2012, Zhongbu,1225 |
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Date of Trial: |
2012-7-16 |
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Reason: |
Severance pay |
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Claimant: |
Yuhui Chen |
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Defendant: |
She Hong Industrial Co., Ltd. |
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3 |
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Trial Number: |
2008,Zhonglaojian,17 |
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Date of Trial: |
2008-7-23 |
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Reason: |
Make sure the employment relationship exists |
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Claimant: |
She Hong Industrial Co., Ltd. |
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Defendant: |
Not Stated |
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4 |
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Trial Number: |
2008,Zhonglaojian,17 |
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Date of Trial: |
2008-7-1 |
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Reason: |
Make sure the employment relationship exists |
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Claimant: |
Not Stated |
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Defendant: |
She Hong Industrial Co., Ltd. |
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5 |
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Trial Number: |
2008,Zhongbu,170 |
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Date of Trial: |
2008-1-23 |
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Reason: |
Make sure the employment relationship exists |
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Claimant: |
Not Stated |
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Defendant: |
She Hong Industrial Co., Ltd. |
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6 |
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Trial Number: |
2006,Zhongbu,979 |
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Date of Trial: |
2006-8-15 |
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Reason: |
Severance pay |
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Claimant: |
Not Stated |
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Defendant: |
She Hong Industrial Co., Ltd. |
Interview Details
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Name |
Mr. Cai |
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Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.84 |
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|
1 |
Rs.101.04 |
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Euro |
1 |
Rs.73.05 |
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TWD |
1 |
Rs.2.03 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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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.