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Report No. : |
308198 |
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Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN SPOT INDUSTRY INC. |
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Registered Office : |
No.6, Ally 25, Lane 25, Guozhong 1st Road, Dali District, Taichung City |
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Country : |
Taiwan |
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Date of Incorporation : |
10.01.1981 |
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Com. Reg. No.: |
52622535 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sale of Spot Welding
Machines. |
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No. of Employees : |
About 40 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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: |
Golden Spot Industry Inc. |
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Supplied Name: |
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Trading Address: |
No. 13, Ln. 498,
Side Rd., Wufeng Dist, Taichung City, Taiwan |
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Supplied Address: |
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Telephone Number: |
+886-4-2333-4589 |
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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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Credit Opinion: |
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Registered Name: |
Golden Spot Industry Inc. |
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Registered Address: |
No.6, Ally 25, Lane 25, Guozhong 1st
Road, Dali District, Taichung City, Taiwan |
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Date of Foundation: |
1981-1-10 |
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Registration Number: |
52622535 |
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Registry: |
Taichung City Government |
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Registered Capital: |
NTD 15,000,000
(USD 465,000) (As of 2015.01, 1 NTD = 0.0310 USD) |
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Paid-up Capital: |
NTD 15,000,000 (USD 465,000) |
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Legal Representatives: |
Qingrong Huang |
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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: |
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Date of Last Annual Return: |
Subject was incorporated
on 1981-1-10 with registered number 52622535
as Joint Stock Company in Taiwan.
Factory
|
Address: |
No.6, Alley 25, Lane 25, Kuo Chung 1 Rd., Dali Dist., Taichung City
412, Taiwan (R.O.C.) |
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Date of Foundation: |
1987-5-14 |
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Date of Registration: |
1988-12-19 |
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Factory Registration Number: |
99634820 |
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Factory Manager: |
Qingrong Huang |
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Status: |
In Production |
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Date of Last Annual Return: |
2002-2-5 |
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Major Products: |
293 general machinery |
Agent
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Name: |
IGS Mesh Machine Suppliers |
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Address: |
Gauteng Kempton park, no2 Erasmia Boulevard, South Africa |
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Telephone Number: |
+27-825700346 |
Major Shareholders
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Name |
Subscription Shares |
|
Qingrong Huang |
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|
450 |
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Xiufeng Zhou |
550 |
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Maoquan Huang |
500 |
Core Management
Directors
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1 |
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Name |
Qingrong Huang |
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Position |
Board Chairman |
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2 |
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Name |
Xiufeng Zhou |
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Position |
Director |
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3 |
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Name |
Maoquan Huang |
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Position |
Director |
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4 |
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Name |
Xiaoshan Huang |
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Position |
Supervisor |
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Headquarters |
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Add |
No. 13, Ln. 498, Side Rd., Wufeng Dist, Taichung City, Taiwan |
Production
Information
· Subject is engaged in manufacturing of spot welding machines, etc.
· Subject has a factory in Taichung City, Taiwan for production.
· Subject obtained the certifications of CE and ISO 9001.
· Subject provides OEM and ODM services.
Purchase
Information
The registered
activities of subject:
|
1 |
Assembly, manufacture and sales of electric welder and mash welder |
|
2 |
import and export business and external guarantee business between
traders in the same industry |
The components and raw materials for production are mostly purchased in domestic market, while subject can also
import specific components from foreign counties according to the customers’
demands.
· Subject is engaged in sale of spot welding machines, etc.
· Subject’s major products wire mesh welding machines, spot/ butt/ flash/ seam welders, automatic welding system, various forming machines and so on.
· The products are applied to wire shelving, industries mesh, furniture and metal products, etc.
· Subject’s sales regions include Asia, Europe and America, etc.
· Subject has a proportion of 90% for export.
· Subject’s major customers are Lors Machinery Inc and Estructuras De Acero Esacero Sa, etc.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
PURCHASE
Domestic Purchase
|
Products |
Components and raw materials |
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Payment Terms |
Cash, T/T, etc. |
Import
|
Products |
Components and raw materials |
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Payment Terms |
T/T, etc. |
SALES
Domestic Markets
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Product |
Machines, etc. |
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Selling Terms |
Cash, T/T, etc. |
Export
|
Product |
Machines, etc. |
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Selling Terms |
L/C, T/T, etc. |
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 |
Ms. Huang |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.96.24 |
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Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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.