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Report No. : |
302597 |
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Report Date : |
15.01.2015 |
IDENTIFICATION DETAILS
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Name : |
TONG YI MACHINERY INC. |
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Registered Office : |
No.10-1, Chiu Chia Rd., Houli Dist.,
Taichung City 421, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
30.04.1996 |
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Com. Reg. No.: |
96991438 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Sale of Machines. |
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No. of Employee : |
About 30 |
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) |
|
Taiwan |
A2 |
A2 |
|
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: |
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Supplied Name: |
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Trading Address: |
No.10-1, Chiu
Chia Rd., Houli Dist., Taichung City 421, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-4-2556-0801 |
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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; the
part of supplied name “Dowell” belongs to subject’s brand name.
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Registered Name: |
Tong Yi Machinery Inc. |
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Registered Address: |
No.10-1, Chiu Chia Rd.,
Houli Dist., Taichung City 421, Taiwan (R.O.C.) |
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Date of Foundation: |
1996-4-30 |
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Registration Number: |
96991438 |
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Registry: |
Taichung City Government |
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Registered Capital: |
NTD
5,000,000 (USD 155,000) (As of 2015.01, 1 NTD = 0.0310 USD) |
|
Legal Representatives: |
Jinhuan Huangzhang |
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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
1996-4-30 with registered number 96991438
as Private Limited Liability Company in Taiwan.
Factory
|
Address: |
No.10-1, Chiu Chia Rd., Houli Dist.,
Taichung City 421, Taiwan (R.O.C.) |
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Date of Registration: |
2006-7-24 |
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Factory Registration Number: |
99703728 |
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Factory Manager: |
Jitong Huang |
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Status: |
In Production |
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Date of Last Annual Return: |
2006-7-24 |
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Major Products: |
322 metal furniture 259 other metal product 291 metal processing machinery |
Major Shareholders
|
Name |
Subscription Amount |
|
Jinhuan
Huangzhang |
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|
3,200,000 |
Core Management
|
Name |
Jinhuan Huangzhang |
|
Position |
Director |
Personnel Structure
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Total Employees |
About 30 Employees |
Offices & Factories
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|
Headquarters |
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Add |
No.10-1, Chiu Chia Rd., Houli Dist., Taichung City 421, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of machines, etc.
Subject has a factory in Taichung
City, Taiwan for production.
Purchase Information
The registered activities of subject:
|
1 |
Manufacturing, processing, assembling and sale of grinding machine,
lathe, milling machine, drilling machine, punching machine, sawing machine, planning
machine, grinding machine and their related components |
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2 |
Import and export of above items’ raw materials |
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3 |
General import and export business (besides licensed business) |
The components and raw materials for production are mostly purchased in
Taiwan domestic market.
Subject is engaged in sale of machines
Subject’s major products include surface grinding machine,
semi-automatic grinding machine, the three axles full-automatic grinding
machine CNC grinding machine and the rotary table grinding machine and so on.
Subject’s has the brand “DOWELL”.
Subject’s sales regions include Asia, Europe and America
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 |
Import
Subject has little import.
Sales
Domestic Markets
|
Product |
Machines |
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Selling Terms |
Cash, T/T |
Export
|
Product |
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 Mr. Huang 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. Huang |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.24 |
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Euro |
1 |
Rs.73.30 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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 |
|
<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.