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Report No. : |
356208 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
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Name : |
LONG CHANG MECHANICAL INDUSTRIAL CO., LTD. |
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Registered Office : |
No.9 Lane 220 Chung Cheng South Rd., Yongkang
Dist., Tainan City 710, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
02.08.1980 |
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Com. Reg. No.: |
73693113 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Sale of Rubber Injection
Molding Machines. |
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No. of Employees : |
About 60 |
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 |
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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: |
No.9 Lane 220
Chung Cheng South Rd., Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
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Supplied Address: |
OFFICE NO 9, LANE 220, CHUNG CHENG SOUTH
ROAD, YUNG KANG DIST TAINAN CITY |
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Telephone Number: |
+886-6-253-1251-2 |
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Fax Number: |
Note: The exact name and address are as above.
Subject was incorporated
on 1980-8-2 with registered number 73693113
as Private Limited Liability Company
in Taiwan.
Factory
|
Address: |
No.9 Lane 220 Chung Cheng South Rd.,
Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
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Date of Foundation: |
1982-12-8 |
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Date of Registration: |
1982-12-8 |
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Factory Registration Number: |
99660465 |
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Factory Manager: |
Jinlong Huan |
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Status: |
In Production |
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Date of Last Annual Return: |
2002-9-6 |
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Major Products: |
292 Other specialized machinery and equipment 293 General machine and equipment |
Major Related
Company
|
Name |
Ning Bo Long Chang Mechanical Industrial
Co., Ltd. (Literal translation) |
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Registered Address |
New Promoting Industrial Region, Ninghai County, Zhejiang Province,
China |
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Date of Foundation: |
2002-9-27 |
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Registration Number: |
330200400039093 |
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Registered Capital: |
USD 1,000,000 |
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Legal Representatives: |
Jinlong Huang |
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Legal Form: |
Private Limited Liability Company |
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Principal Activities: |
Manufacturing and sale of hydraulic pneumatic machinery and equipment |
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Tel.: |
+86 574 6553 0790 |
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Fax: |
+86 574 6553 0796 |
Major Shareholders
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Name |
Subscription Amount |
|
Jinlong Huang |
3,200,000 |
Core Management
Directors
|
Name |
Jinlong Huang |
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Position |
Director |
Personnel Structure
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Total Employees |
About 60 employees |
Offices & Factories
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|
Headquarters |
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Add |
No.9 Lane 220 Chung Cheng South Rd., Yongkang Dist., Tainan City 710,
Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of rubber injection molding machines.
Subject has a factory in Taiwan for production.
Purchase Information
The registered activities of subject:
|
1 |
Manufacturing, processing and sale of hydraulic press, plastic
injection machine |
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2 |
Trading of the above products |
The components and raw material for production are purchased from both
home and abroad.
Subject is engaged in sale of rubber injection molding machines.
Subject’s sales regions include Taiwan domestic market, Mainland China,
Japan. South Korea, Southeast Asia, America and Europe.
Subject’s major customers are manufacturers of tires.
One of subject’s major customers is WCR Inc.
The general delivery lead time of subject is about 30-180 days.
Major Products
|
No. |
Products |
|
1 |
FCRS SERIES SILICONE INJECTION MOLDING
MACHINE |
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2 |
FC SERIES SINGLE BODY OIL HYDRAULIC COMPRESSION
MOLDING MACHINE |
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3 |
FB SERIES TWIN BODY OIL HYDRAULIC
COMPRESSION MOLDING MACHINE |
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4 |
FCL SERIES SINGLE BODY OIL HYDRAULIC
COMPRESSION MOLDING MACHINE |
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5 |
FBS SERIES TWIN BOOY DIE-REMOVING &
EJECTION COMPRESSION MOLDING MACHINE |
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6 |
FCS SERIES SINGLE BODY DIE-REMOVING EJECTION
COMPRESSION MOLDING MACHINE |
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7 |
FBV SERIES VACUUM OIL HYDRAULIC COMPRESSION
MOLDING MACHINE |
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8 |
FCVR TYPE SINGLE BODY VACUUM RUBBER OIL SEAL
HYDRAULIC COMPRESSION MOLDING MACHINE |
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9 |
FCH SERIES HORIZONTAL AUTOMATIC RUBBR &
SILICONE INJECTION MOLDING MACHINE |
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10 |
FBF SERIES EVA FOAM TIRE OIL HYDRAULIC
COMPRESSION MOLDING MACHINE |
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11 |
FCSR SERIES TRANSFER COMPRESSION MOLDING
MACHINE |
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12 |
AUTOMATIC OIL HYDRAULIC POWDER FORMING MACHINE |
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw material |
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Payment Terms |
T/T, Cash |
Import
|
Products |
Raw material |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Rubber injection molding machines |
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Selling Terms |
T/T, Cash |
Export
|
Product |
Rubber injection molding machines |
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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 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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Case Type: |
Chattel Mortgage |
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Registered Number: |
74-104-424-1(19163) |
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Debtor Name: |
Long Chang Mechanical Industrial Co., Ltd. |
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Registry: |
Directorate-General of Highways, MOTC |
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Name of Mortgagee: |
Taiwan Acceptance Corporation |
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Date of Registration: |
2015-12-14 |
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Amount of Secure Claims: |
NTD 400,000 |
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Type of Mortgage: |
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. Huang |
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Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
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Euro |
1 |
Rs.72.41 |
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TWD |
1 |
Rs.2.01 |
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.