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Report No. : |
302598 |
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Report Date : |
14.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SINATEK EQUIPMENT CORP. |
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Registered Office : |
No.78-2, Housheng Rd., Shengang Dist., Taichung City 42952, Taiwan |
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Country : |
Taiwan |
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Date of Incorporation : |
11.08.2004 |
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Com. Reg. No.: |
27485695 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Design, Manufacture and Sale of Die
Casting Machines and Accessories. |
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No. of Employees : |
About 30 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 – September 30, 2014
|
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: |
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Supplied Address: |
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Telephone Number: |
+886-4-2562-3311 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated
on 2004-11-8 with registered number 27485695
as Joint Stock Company in Taiwan.
Related Company
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Name: |
Machtek Unix Inc. |
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Address: |
No.181-1, Dazun Road, Shengang Dist.,
Taichung City, Taiwan |
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Date of Foundation: |
2007-6-4 |
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Registration Number: |
28727881 |
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Registry: |
Taichung City Government |
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Registered Capital: |
NTD 39,000,000 (USD 1,209,000) (As of 2015.01, 1 NTD = 0.0310 USD) |
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Paid-up Capital: |
NTD 39,000,000 (USD 1,209,000) |
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Legal Representatives: |
Shujing Lin |
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Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2014-7-25 |
Sales Agent
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Name: |
Electronica Hitech Machines Pvt. Ltd. |
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Address: |
Elektra Chambers 44 Mukundnagar, Pune 411 037, India |
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Tel: |
+91-20-3043-5400 |
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Fax: |
+91-20-2426-9001 |
Major Shareholders
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Name |
Subscription Shares |
|
950,000 |
|
|
Shuzhen Lin |
200,000 |
Core Management
Directors
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1 |
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Name |
Zhengzong Guo |
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Position |
Board Chairman |
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2 |
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Name |
Shujing Lin |
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Position |
Director |
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3 |
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Name |
Peiting Guo |
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Position |
Director |
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4 |
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Name |
Shuzhen Lin |
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Position |
Supervisor |
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Headquarters |
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Add |
Production
Information
· Subject is engaged in design and manufacturing of die casting machines and accessories.
· It is introduced that subject has a factory in Taichung City, Taiwan for production, while the detail information we cannot obtain from any sources.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
F401010 |
International trade business |
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F114030 |
Wholesale of automobile and haulage motor components |
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F113010 |
Wholesale of machinery |
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F106030 |
Wholesale of mould |
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F113990 |
Wholesale of other mechanical appliance |
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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 die casting machines and accessories, etc.
· Subject’s major products include complete die casting machines (type: 150T, 250T, 350T, 550T) fluid feeding machine, sprayer, fetching machine and related components, etc.
· Subject’s products obtained CE certification.
· Subject’s sales regions include Asia, Europe and America, etc.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
PURCHASE
Domestic Purchase
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Products |
Components and raw materials |
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Payment Terms |
Cash, T/T, etc |
Import
Subject has little import.
SALES
Domestic Markets
|
Product |
Die casting machines, etc |
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Selling Terms |
Cash, T/T, etc |
Export
|
Product |
Die casting machines, etc |
|
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 Mr. Jian 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 |
Mr. Jian |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
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|
1 |
Rs.94.10 |
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Euro |
1 |
Rs.73.42 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.