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Report No. : |
353686 |
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Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
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Name : |
NEO PRECISION TECH. CO., LTD. |
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Registered Office : |
No.5, Gongyecyu 8th Rd., Situn Dist.,
Taichung City |
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Country : |
Taiwan |
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Date of Incorporation : |
17.12.2012 |
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Com. Reg. No.: |
54140231 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of spindles. |
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No. of Employee : |
About 100 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 : |
Slow but correct |
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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 |
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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: |
No.5, Gongyecyu
8th Rd., Situn Dist., Taichung City, Taiwan, R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-4-2358-1678 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated
on 2012-12-17 with registered number 54140231
as Joint Stock Company in Taiwan.
Factory
|
Address: |
No.5, Gongyecyu 8th Rd., Situn Dist., Taichung City, Taiwan, R.O.C. |
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Date of Registration: |
2009-07-28 |
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Factory Registration Number: |
99720590 |
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Factory Manager: |
Zheng Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2015-10-22 |
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Major Products: |
293 General machinery equipment |
Group Service Centers
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1 |
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Name: |
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Midwest Service Center |
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Address: |
5880 Hillside Ave, Cincinnati, OH 45233 |
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Toll Free: |
+1-800-543-0470 |
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Phone: |
+1-513-941-5110 |
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Fax: |
+1-513-467-7249 |
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2 |
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Name: |
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Great Lakes Service Center |
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Address: |
41180 Vincenti Court, Novi, MI 48375 |
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Toll Free: |
+1-877-773-5349 |
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Phone: |
+1-248-888-8989 |
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Fax: |
+1-248-888-0765 |
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3 |
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Name: |
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Western Service Center |
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Address: |
5572 Buckingham Drive, Huntington Beach, CA 92649 |
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Toll Free: |
+1-866-362-0699 |
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Phone: |
714-372-3730 |
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Fax: |
714-372-3750 |
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4 |
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Name: |
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Southeast Service Center |
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Address: |
3650 Burnette Park Drive, Suwanee, GA 30024 |
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Toll Free: |
+1-800-830-4992 |
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Phone: |
+1-770-932-2353 |
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Fax: |
+1-770-932-1668 |
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5 |
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Name: |
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Setco India Service Center |
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Address: |
S No 166, 1st Floor, Sinhagad Rd Nanded Phata, Pune 411041 |
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Phone: |
+0091-20-6470-2938 |
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Fax: |
+0091-20-2439-0700 |
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6 |
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Name: |
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Setco Precision Spindle Technology (Shanghai) Co., Ltd. |
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Address: |
No. 16, Lane 88, Fengnian Rd., Malu Township, Jiading District, Shanghai 201801, China |
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Phone: |
+86-21-6915-0600 |
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Fax: |
+86-21-69150628 |
Major Shareholder
|
Name |
Subscription Shares |
|
Holden Acquisition Corp. V |
|
|
13,530,500 |
Core Management
Directors
|
1 |
||
|
Name |
Jeffrey Johnson Clark |
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Position |
Chairman of the Board |
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2 |
||
|
Name |
Josph S. Haas |
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Position |
Director |
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3 |
||
|
Name |
Gregory R. Hamilton |
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Position |
Director |
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4 |
||
|
Name |
Arthur R. Miller |
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Position |
Supervisor |
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Personnel
Structure
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Total Employees |
About 100 Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
No.5, Gongyecyu 8th Rd., Situn Dist., Taichung City, Taiwan, R.O.C. |
Production
Information
Subject is engaged in manufacturing of spindles
Subject has a factory in Taiwan for production.
Subject obtained the certification of ISO 9001.
Purchase
Information
The registered
activities of subject:
|
Business Code |
Details |
|
CA02990 |
Other metal products manufacturing |
|
CB01010 |
Machinery equipment manufacturing |
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CQ01010 |
Moulds manufacturing |
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F113010 |
Machinery wholesaling |
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F113990 |
Other machinery instrument wholesaling |
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F206010 |
Hardware retailing |
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F213080 |
Machinery instrument retailing |
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F213990 |
Other machinery instrument retailing |
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F401010 |
International trade |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted |
The components and raw materials for production are purchased from both
home and abroad.
Subject is engaged in sales of spindles
The products of subject are mainly applied for engine and electromotor
It is introduced that the bands of subject’s products are Setco,
Master/Setco, Whitnon, Pope and AirShield
Subject’s sales regions include domestic, Southeast Asia, Middle East,
America and Europe
Subject’s major customers are manufactures of engine and electromotor
It is introduced that subject cooperated with Gadra Enterprises Inc.
Major Products
|
Products |
Details |
|
Spindles |
Belt driven spindles, motorized spindles, spark erosion grinding,
direct drive, geared, turning, milling heads, gear driven spindles-parallel
and worm milling, etc. |
|
Slides |
Dovetail, hardened way slides, liner rail, etc. |
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials and components |
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Payment Terms |
T/T, Cash |
Import
|
Products |
Raw materials and components |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Spindles |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Spindles |
|
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. Chen |
|
Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.73.46 |
|
NTD |
1 |
Rs.2.04 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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Report Prepared
by : |
ANK |
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 |
|
<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.