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Report No. : |
329722 |
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Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
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Name : |
RHYMEBUS CORPORATION |
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Registered Office : |
1F, No.17, 33-Rd., Industrial Park, Shi Tun Dist, Taichung |
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Country : |
Taiwan |
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Date of Incorporation : |
26.03.1984 |
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Com. Reg. No.: |
52886780 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sale of Ac Motor Drive. |
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No. of Employees : |
About 160 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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.
However, follow-on components of ECFA, including a signed agreement on trade in
services, negotiations on trade in goods, and dispute resolution—have stalled.
In early 2014, the government bowed to public demand for a new law governing
the oversight of cross-Strait agreements, before any additional deals with
China are implemented; the legislature has yet to vote on such legislation,
leaving the future of ECFA up in the air as President MA enters his final full
year in office. MA has portrayed ECFA as Taiwan’s key to greater participation
in East Asia’s free trade networks. Taiwan's total fertility rate of just under
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
expected to account for 20% of the island's total population by 2025. The
island runs a trade surplus, largely because of its surplus with China, and its
foreign reserves are the world's fifth largest, behind those of China, Japan,
Saudi Arabia, 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, the
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
has helped Taiwan develop into a local RMB hub. Closer economic links with the
mainland bring greater opportunities for the Taiwan economy, but also pose new
challenges as the island becomes more economically dependent on China at a time
when political differences remain unresolved. During 2014, the press paid
increasing attention to domestic economic issues while pushing aside the
debates over trade liberalization that were a hallmark of MA’s tenure. The
media focused on the divide between Taiwan’s “haves” and “have nots,” providing
extensive coverage of public frustration with stagnant wages, skyrocketing
housing prices, and the difficulty of finding decent entry-level jobs.
|
Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.17, 33-Rd., Industrial Park, Shi Tun Dist, Taichung, Taiwan |
|
Supplied
Address: |
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Telephone
Number: |
+886-4-2359-5237 |
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Fax Number: |
|
|
Email: |
Notes: The exact name and
address are as above.
Subject was incorporated on 1984-3-26 with registered
number 52886780 as Joint Stock Company in Taiwan.
Factories
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1 |
|
|
Name: |
The 2nd Factory |
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Address: |
No. 8, Industrial
33rd Rd., Xiehe Li, Xitun Dist., Taichung City, Taiwan |
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Date of
Registration: |
2010-3-1 |
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Factory
Registration Number: |
99720647 |
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Factory Manager: |
Jiaxuan Lin |
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Status: |
In Production |
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Date of Last Annual Return: |
2010-3-1 |
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Major Products: |
281 generate
electricity, transmission and distribution machinery |
|
2 |
|
|
Address: |
No.17, 33-Rd., Industrial Park, Shi Tun Dist, Taichung, Taiwan |
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Date of
Foundation: |
1991-10-29 |
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Date of
Registration: |
1993-2-10 |
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Factory
Registration Number: |
99669762 |
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Factory Manager: |
Jiaxuan Lin |
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Status: |
In Production |
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Date of Last Annual Return: |
1993-2-10 |
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Major Products: |
289 other
electrical equipment |
Offices
|
1 |
|
|
Name |
Taipei Office |
|
Address |
Rm. 2, 4F., No.7,
Wucyuan 1st Rd., Sinjhuang Dist., New Taipei City, Taiwan 24892 |
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Tel No. |
+886-2-85313284 |
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Email: |
topsales@mail.rhymebus.com.tw |
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2 |
|
|
Name |
Kaohsiung Office |
|
Address |
No. 243, Tuku
Road, Nanzih District, Kaohsiung City 81164 |
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Tel No. |
+886-7-3539799 |
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Fax No |
+886-7-3536166 |
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3 |
|
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Name |
Yunlin Office |
|
Address |
No.73, Sec. 3,
Daxue Rd., Douliu City, Yunlin County 64054 |
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Tel No. |
+886-5-5321526 |
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Fax No |
+886-5-5321523 |
Related Companies
|
1 |
|
|
Name |
PT Kerin Prima
Sentosa Lestari |
|
Tel No. |
+62-22-6033731 |
|
2 |
|
|
Name |
Livewire Electrical
Enterprise |
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Tel No. |
+632-365-4198 |
|
3 |
|
|
Name |
Thermacom UK |
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Tel No. |
+44-118-950-0606 |
|
4 |
|
|
Name |
Mehregan Sanat
Parin |
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Tel No. |
+98-21-4404-6428 |
|
5 |
|
|
Name |
Pwer Tech
Electronics |
|
Tel No. |
+92-214-911414 |
Major Shareholders
|
Name |
Subscription Shares |
|
Jiaxuan Lin |
|
|
2,016,421 |
|
|
Cuifen Lin |
1,806,177 |
|
Yifen Lin |
994,337 |
|
Shichang Yang |
1,138,551 |
Core Management
Directors
|
1 |
||
|
Name |
Jiaxuan Lin |
|
|
Position |
Chairman of the
Board |
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|
2 |
||
|
Name |
Cuifen Lin |
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Position |
Director |
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|
3 |
||
|
Name |
Yifen Lin |
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Position |
Director |
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|
4 |
||
|
Name |
Shichang Yang |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 160
Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.17, 33-Rd.,
Industrial Park, Shi Tun Dist, Taichung, Taiwan |
Production Information
·
Subject
is engaged in manufacturing of AC motor drive, etc.
·
Subject
has two factories in Taiwan for production.
·
Subject
obtained the certification of ISO-9001 and ISO-9002.
Purchase Information
The
registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Machinery and
Equipment Manufacturing |
|
CC01010 |
Electricity
generation and transmission distribution machinery manufacturing |
|
CC01080 |
Electronic
components manufacturing |
|
CC01990 |
Other mechanical electrical
and electronic equipment manufacturing industry |
|
CB01990 |
Other machinery
manufacturing |
|
F113010 |
Mechanical
wholesaling |
|
F119010 |
Electronics
material wholesale business |
|
F113990 |
Other mechanical
appliances wholesaling |
|
F401010 |
The international
trade |
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IG03010 |
Energy Services |
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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 both purchased at home and abroad.
· Subject is engaged in sale of AC motor drive, etc.
· The major products are AC motor drive, Vehicle motor and so on.
· It is introduced that subject AC motor drive include frequency inverter, auxiliary control equipment, customer design, AC motor, etc.
· Subject’s products are mainly applied for plastic and rubber, air compressor, fan and pump, air conditioning system, conveyer machinery, etc.
· Subject’s sales regions include domestic market and abroad.
· It is introduced that subject has related companies in the Mainland of China and other Asian countries.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
PURCHASE
Domestic
Purchase
|
Products |
Components and
raw materials |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Components and raw materials |
|
Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
AC motor drive, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
AC motor drive, 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 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. Yang |
|
E-mail |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
-- |
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.