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Report No. : |
301213 |
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Report Date : |
05.01.2015 |
IDENTIFICATION DETAILS
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Name : |
HWE WANG ENTERPRISES INC. |
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Registered Office : |
No.178, Shye Rd., Chianjen Dist., Kaohsiung 806 |
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Country : |
Taiwan |
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Date of Incorporation : |
20.10.1988 |
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Com. Reg. No.: |
22840176 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Engaged in Manufacturing and sale of cranes Subject product
lines are as follows:- Overhead Crane Electric Wire Rope Hoist, Air Hoist, And
Theatrical Hoist. Power Delivery Systems Cable Reels, Overload Limiters and Quick
Connectors. Crane Control Systems Crane Brakes, Crane Drives and Anti-Sway
Systems Below The Hooks- Lifting Gears Separators, All Kinds Of Grabs, Hook and
Wire Rope End Fitting. Material Handling Equipment Drum Lifter, Pallet Truck And Gunning
Machine. Building Maintenance Equipment Rope Pulling Machines, Vertical Ladders And
Portable Electric Hoist. |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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Taiwan |
a2 |
a2 |
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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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Trading Address: |
No.178, Shye
Rd., Chianjen Dist., Kaohsiung 806, Taiwan R.O.C |
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Supplied Address: |
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Telephone Number: |
+886-7-831-7878 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
Hwe Wang Enterprises Inc. |
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Registered Address: |
No.178, Shye Rd., Chianjen Dist., Kaohsiung
806, Taiwan R.O.C |
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Date of Foundation: |
1988-10-20 |
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Registration Number: |
22840176 |
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Registry: |
Economic Development Board of
Kaohsiung City Government |
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Registered Capital: |
(As of 2015.1, 1 NTD = 0.0314 USD) |
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Paid-up Capital: |
NTD 10,000,000 (USD 314,000) |
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Legal Representatives: |
Zhenjia Liu |
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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: |
Note: Subject
declined to disclose its staff number; we obtained the relevant information
from public files.
Subject was incorporated on 1988-10-20 with registered number 22840176 as Joint Stock Company in Taiwan.
Subject did not introduce any
subsidiaries or branches; from other source we could not obtain the relevant
information, either.
Major Shareholders
|
Name |
Subscription Shares |
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Zhenjia Liu |
4,000 |
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Yuru Liu |
1,000 |
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Yuwen Liu |
1,000 |
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Sue Su |
4,000 |
Core Management
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1 |
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Name |
Zhenjia Liu |
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Position |
Board Chairman & Manager |
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Date of Manager Appointment |
1988-10-15 |
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2 |
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Name |
Yuru Liu |
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Position |
Director |
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3 |
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Name |
Yuwen Liu |
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Position |
Director |
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4 |
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Name |
Sue Su |
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Position |
Supervisor |
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Headquarters |
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Add |
No.178, Shye Rd., Chianjen Dist., Kaohsiung
806, Taiwan R.O.C |
Production
Information
l
Subject is engaged in manufacturing of cranes.
l
It is introduced that subject has a factory in
Taiwan for production.
l
It is introduce that subject has obtained ISO 9001
certifications.
Purchase
Information
l
The registered activities of subject:
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1. |
Manufacturing, processing and sale of all
kinds of fiber leather products |
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2 |
Manufacturing, processing and sale of
appliances, refrigerators, televisions, washing machines, electronic
components and computer peripherals |
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3 |
Manufacturing, processing and sale of iron
and steel, furniture, bicycles, motor vehicles and parts, the sale of old
vessels disintegration. |
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4 |
Items related to the machinery as above,
the whole plant machinery and equipment output |
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5 |
Trading of various ores, chemicals, building
materials, hardware supplies, artwork, sports equipment, rubber and plastic products |
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6. |
As an agent assists in developing quoting,
bidding and distributing about home and abroad companies' products. |
l
The components and raw material for
production are purchased from both home and abroad.
l
It is introduced that subject imports
technologies and skills from Europe and America.
Sales Information
l
Subject is engaged in sale of cranes.
l
It is introduced that subject’s selling territory
is in Southeast Asia, China and etc.
l
It is introduced that subject’s major customers
include steel Mill, Automation industry, Chemical industry, transportation
industry and etc.
Major Products:
|
Types |
Products |
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Overhead crane |
Electric wire rope hoist, air hoist,
and theatrical hoist. |
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Power delivery systems. |
Cable reels, overload limiters and quick
connectors. |
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Crane Control systems |
Crane brakes, crane drives and anti-Sway
systems |
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Below the hooks- Lifting gears |
Separators, all kinds of grabs, hook and
wire rope end fitting. |
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Material Handling equipment |
Drum lifter, pallet truck and gunning
machine. |
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Building Maintenance equipment |
Rope pulling machines, vertical ladders and
portable electric hoist. |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw Materials. |
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Payment Terms |
T/T, Cash. |
2.
Import
|
Products |
Raw Materials. |
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Payment Terms |
L/C, T/T. |
Sales
1.
Domestic Markets
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Product |
Cranes. |
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Selling Terms |
T/T, Cash. |
2.
Export
|
Product |
Cranes. |
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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
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
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.29 |
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UK Pound |
1 |
Rs.98.39 |
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Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
MNL |
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.