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Report No. : |
303340 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
YUAN HERNG MACHINE CO., LTD. |
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Registered Office : |
1F., No.18, Lane 635, Jhongjheng Rd.,
Yongkang Dist., Tainan City 710 |
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Country : |
Taiwan |
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Date of Incorporation : |
06.04.2004 |
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Com. Reg. No.: |
80747613 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Wholesalers and Retailers of machinery and equipment. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Taiwan |
A2 |
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, and 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. Negotiations continue on follow-on components of ECFA regarding trade in goods and a dispute resolution mechanism; a trade in services agreement is under review in the legislature. 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 accounting for 11.2% of the island's total population as of 2012. The island runs a large overall trade surplus largely because of its surplus with China, and its foreign reserves are the world's sixth largest, behind China, Japan, Saudi Arabia, Russia, 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, Taiwan Central Bank signed a memorandum of understanding 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 could help develop Taiwan into a local RMB hub. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Supplied Address: |
IF NO 18,LANE
635 JHONG JHENG RD YONGKANG CITY, TAIWAN COUNTRY 710, TAIWAN ROC |
We tried to contact subject many times through
the supplied telephone number + +886-6-2531972
for several times, however, no one answered the phone. We have sent a fax to
the supplied fax number +886-6-2427662, there was no reply at present.
According to the supplied
name and address, we can not find any operation information or other valid
contact information of subject.
We found subject’s registration information as follows for reference.
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Registered Name: |
Yuan Herng Machine Co., Ltd. |
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Registered Address: |
1F., No.18, Lane 635, Jhongjheng Rd.,
Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
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Date of Foundation: |
2004-4-6 |
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Registration Number: |
80747613 |
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Registry: |
Tainan City Governmen |
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Registered Capital: |
(As of 2015.02 NTD = 0.031 USD) |
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Legal Representatives: |
Hongrong Chen |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
Notes: Since we didn’t contact subject successfully,
the principal activities and staff number are not available from any sources.
Subject was incorporated
on 2004-4-6 with registered number 80747613
as Private Limited Liability Company in Taiwan.
Subject did not register any subsidiaries or branches; from
other source we could not obtain the relevant information, either.
Major Shareholders
|
Name |
Subscription Amount |
|
Hongrong Chen |
500,000 |
Core Management
Directors
|
Name |
Hongrong Chen |
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Position |
Director |
Since we failed to contact with the subject, the operation information
is not available from any sources.
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery and equipment. |
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E604010 |
Installing of machinery and equipment. |
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F113010 |
Wholesales of machinery and equipment. |
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F213080 |
Retails of machinery and equipment. |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Since we didn’t contact subject successfully, the settlement information
is not available from any sources.
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.
Since we didn’t contact subject successfully,
the financial information is not available from any sources.
Since we didn’t contact subject successfully, the bank information is
not available from any sources.
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
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|
1 |
Rs.94.07 |
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Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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 |
-- |
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.