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Report No. : |
355368 |
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Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
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Name : |
CINETECH INDUSTRIAL CO., LTD. |
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Registered Office : |
7F, No.10, Lane 235, Pao Chiao Rd., Xindian
Dist., New Taipei City 231, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
07.05.1985 |
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Com. Reg. No.: |
21258906 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sale of Electronic
Components |
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No. of Employees : |
About 50 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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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: |
7F, No.10, Lane
235, Pao Chiao Rd., Xindian Dist., New Taipei City 231, Taiwan (R.O.C.) |
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Supplied Address: |
7TH FL, NO 10,
LANE 235, BAO CHIAO RD., HSIN TIEN CITY, NEW TAIPEI CITY |
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Telephone Number: |
+886-2-2915-9601 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact name and address are as above.
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Registered Name: |
Cinetech Industrial Co., Ltd. |
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Registered Address: |
7F, No.10, Lane 235, Pao Chiao Rd., Xindian Dist.,
New Taipei City 231, Taiwan (R.O.C.) |
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Date of Foundation: |
1985-5-7 |
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Registration Number: |
21258906 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
NTD 29,800,000
(USD 923,800) (As of 2015.12, 1 NTD = 0.0310 USD) |
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Paid-up Capital: |
NTD 29,800,000 (USD 923,800) |
|
Legal Representatives: |
Baojun Xu |
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Legal Form: |
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Principal Activities: |
Manufacturing
and sale of electronic components |
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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 1985-5-7 with registered number 21258906
as Joint Stock Company in Taiwan.
Factory
|
Address: |
7F, No.10, Lane 235, Pao Chiao Rd., Xindian Dist., New Taipei City
231, Taiwan (R.O.C.) |
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Date of Foundation: |
1994-10-26 |
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Date of Registration: |
1994-11-17 |
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Factory Registration Number: |
99603057 |
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Factory Manager: |
Baojun Xu |
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Status: |
In Production |
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Date of Last Annual Return: |
2002-1-30 |
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Major Products: |
262 electronic passive component |
Related Company
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Name: |
Meftech Corporation |
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Address: |
7F, No.10, Lane 235, Pao Chiao Rd., Xindian Dist., New Taipei City 231,
Taiwan (R.O.C.) |
Major Shareholders
|
Name |
Subscription Shares |
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Baojun Xu |
|
|
1,641,000 |
|
|
Baoming Xu |
210,600 |
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Kunsheng Chen |
119,200 |
|
Xiaozhu Guo |
119,200 |
Core Management
Directors
|
1 |
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Name |
Baojun Xu |
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Position |
Board Chairman |
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2 |
||
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Name |
Baoming Xu |
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Position |
Director |
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3 |
||
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Name |
Kunsheng Chen |
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Position |
Director |
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4 |
||
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Name |
Xiaozhu Guo |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
|
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Headquarters |
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Add |
7F, No.10, Lane 235, Pao Chiao Rd., Xindian Dist., New Taipei City 231,
Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of electronic components.
Subject has a factory in Taiwan for production.
It is introduced that subject has factories in Dongguan City and Wu
Jian, the Mainland of China for production, but we cannot obtain the detail information.
Subject obtained the certifications of ISO 9001 and RoHs.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
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F102030 |
Wholesale of alcohol and tobacco |
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F104110 |
Wholesale of textile, garment, shoes, hat, umbrella and accessories |
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F106010 |
Wholesale of hardware |
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F106020 |
Wholesale of daily supplies |
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F109070 |
Wholesale of stationery, music instrument, recreational supplies |
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F113050 |
Wholesale of computer and office equipment |
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F114030 |
Wholesale of automobile and haulage motor components |
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F119010 |
Wholesale of electronic materials |
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F203010 |
Retail of food and beverage |
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F203020 |
Retail of alcohol and tobacco |
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F206010 |
Retail of hardware |
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F401010 |
International trade business |
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F401171 |
Import of alcohol |
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CC01080 |
Manufacturing of electronic components |
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I102010 |
Investment consulting business |
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I103060 |
Management consulting business |
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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 mostly purchased in
domestic market.
Subject is engaged in sale of electronic
components.
The major products sold by the subject include carbon film resistors,
network resistors, chip resistors, metal film resistors, ceramic disc
capacitors, multitier capacitors, chip capacitors; power wire wound resistors,
ceramic rods and caps for making resistors, crystal products, and aluminum
electrolytic capacitors and so on.
Subject’s sales regions include domestic market, Korea, Japan, Southeast
Asia, Europe and America.
It is introduced that subject’s major foreign customers are Megastar
Electroniques Inc and RCD Components Inc.
It is introduced that subject has distributors and agents in many
countries, some of the distributors and agents are as follows:
|
1 |
|
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Name: |
Lake-View Electronics Corp. |
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Telephone No.: |
+1-262-377-8250 |
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2 |
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Name: |
APEX Electronics Ltd. |
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Telephone No.: |
+64-4-384-3404 |
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3 |
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Name: |
Aldinet S.L Spain |
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Telephone No.: |
+34-943-805420 |
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4 |
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Name: |
Silicon Semi-Conductors Pvt. Ltd. |
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Telephone No.: |
+91-20-26122080 |
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5 |
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Name: |
Selectech PTE Ltd. |
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Telephone No.: |
+65-6744-9695 |
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials and components |
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Payment Terms |
Cash, T/T |
Import
Subject has little import.
Sales
Domestic Markets
|
Product |
Electronic components |
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Selling Terms |
Cash, T/T |
Export
|
Product |
Electronic components |
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Selling Terms |
T/T (100% in advance for new customers) |
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 discloses
its financials citing the grounds of company’s confidentiality; from other
sources we could not obtain such information, either.
|
1 |
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Name: |
First Commercial Bank |
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2 |
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Name: |
Taipei Fubon Commercial Bank Co., Ltd. |
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 |
Ms. Wong |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.32 |
|
|
1 |
Rs.98.98 |
|
Euro |
1 |
Rs.72.13 |
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TWD |
1 |
Rs.2.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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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.