MIRA INFORM REPORT
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Report No. : |
332294 |
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Report Date : |
21.07.2015 |
IDENTIFICATION DETAILS
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Name : |
ABLYTEK CO., LTD. |
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Registered Office : |
No.6, Yuan East St., Ping-Tung City 900, Taiwan, R.O.C. |
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Country : |
Taiwan |
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Date of Incorporation : |
12.01.2010 |
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Com. Reg. No.: |
25154972 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sales of Solar Module. |
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No. of Employees : |
About 300 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 |
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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.
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 |
Contact Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.6, Yuan East
St., Pingtung Export Processing Zone, Ping-Tung City 900, Taiwan, R.O.C. |
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Supplied Address: |
No.6 Yuan Dong
St, Pingtung Export Processing Zone, Pingtung Country |
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Telephone Number: |
+886- 8-820-0666 |
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Fax Number: |
+886- 8-820-0667 |
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E-mail: |
Notes: The exact name and address are as above.
Company Identification Details
History
Subject was incorporated
on 2010-1-12 with registered number 25154972
as Joint Stock Company in Taiwan.
Corporate Structure
Factories
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1 |
|
|
Address: |
No.6, Yuan East St., Ping-Tung City 900, Taiwan, R.O.C. |
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Date of Registration: |
2010-10-18 |
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Factory Registration Number: |
90P00017 |
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Factory Manager: |
Jiancai Hou |
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Status: |
In production |
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Date of Last Annual Return: |
2012-4-17 |
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Major Products: |
264 Photoelectric material and components |
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2 |
|
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Name: |
2nd Factory |
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Address: |
No.2, Jingjian Rd., Ping-Tung City 900, Taiwan, R.O.C. |
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Date of Registration: |
2014-2-18 |
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Factory Registration Number: |
90P00035 |
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Factory Manager: |
Jiancai Hou |
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Status: |
In production |
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Date of Last Annual Return: |
2014-2-18 |
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Major Products: |
264 Photoelectric material and components |
Shareholders
Major Shareholders
|
Name |
Subscription Shares |
|
Jiancai Hou |
613,000 |
|
Asber Enterprise Co., Ltd. |
|
|
1,327,264 |
|
|
Likai Chen |
2,670,000 |
|
Min Aik Technology Co., Ltd. |
16,979,000 |
|
Wenyu Liu |
1,000,000 |
|
Xiaoyu Cai |
30,000 |
|
Shuhui Qiu |
30,000 |
|
Jialing Wu |
600,000 |
Shareholder Information:
|
1 |
|
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Registered Name: |
Asber Enterprise Co., Ltd. |
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Registered Address: |
6F., No.207, Sec. 3, Beixin Rd., Xindian
Dist., New Taipei City, Taiwan (R.O.C.) |
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Date of Foundation: |
1993-11-4 |
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Registration Number: |
84481848 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
NTD 100,000,000 (USD 3,200,000) (As of 2015.07, 1 NTD = 0.032 USD) |
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Paid-up Capital: |
NTD 100,000,000 (USD 3,200,000) |
|
Legal Representatives: |
Youming Dai |
|
Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2014-3-3 |
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2 |
|
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Registered Name: |
Min Aik Technology Co., Ltd. |
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Registered Address: |
10F.-1, No.492-1, Sec. 1, Wanshou Rd.,
Taoyuan City, Taoyuan County, Taiwan (R.O.C.) |
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Date of Foundation: |
1979-10-3 |
|
Registration Number: |
30897480 |
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Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
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Registered Capital: |
NTD 4,000,000,000 (USD 128,000,000) (As of 2015.07, 1 NTD = 0.032 USD) |
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Paid-up Capital: |
NTD 1,742,019,870 (USD 55,744,635.84) |
|
Legal Representatives: |
Jinxing Xie |
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Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2014-7-11 |
Management Information
Core Management
Directors
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1 |
||
|
Name |
Jiancai Hou |
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Position |
Board Chairman |
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2 |
||
|
Name |
Youming Dai |
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Position |
Director |
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3 |
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Name |
Likai Chen |
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Position |
Director |
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4 |
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Name |
Hongren Yang |
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Position |
Director |
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5 |
||
|
Name |
Wenyu Liu |
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Position |
Director |
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6 |
||
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Name |
Xiaoyu Cai |
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Position |
Supervisor |
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7 |
||
|
Name |
Shuhui Qiu |
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Position |
Supervisor |
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8 |
||
|
Name |
Jialing Wu |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 300 Employees |
Operation Information
Offices & Factories
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|
Headquarters |
|
Add |
No.6, Yuan East St., Pingtung Export Processing Zone, Ping-Tung City
900, Taiwan, R.O.C. |
Production Information
Subject is engaged in manufacturing of solar module.
Subject has factories in Taiwan for production.
Subject obtained the certification of OHSAS 18001, TUV ISO 14001, TUV
ISO 9001, TUV 61215 / 61730, and TUV REACH.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CC01080 |
Manufacturing of electronic components. |
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CC01090 |
Manufacturing of battery. |
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EZ99990 |
Other engineering. |
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F111090 |
Wholesale of building materials. |
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F113110 |
Wholesale of battery. |
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F119010 |
Wholesale of electronic materials. |
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F213110 |
Retail of battery. |
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F401010 |
International trade business. |
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IG03010 |
Energy technology service industry. |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
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CC01010 |
Manufacturing of generation, transmission and distribution machinery. |
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D101060 |
Renewable energy for power generation equipment industry. |
The components and raw materials for production are mostly purchased
both at home and abroad.
Subject is engaged in sale of solar module.
The major products sold by subject include polycrystalline module,
monocrystalline module, BIPV, rooftile, solar car sunroof, solar curvature
module.
It is introduced that subject has its own brand “AblyTek”.
Subject’s sales regions include domestic market, Japan, Singapore,
Thailand, USA, France, Germany, and Italy.
The general delivery lead time of subject is about 60 days.
It is introduced that subject’s major products are applied to electronic
products, car sunroof, shading system, and bus shelter.
Subject’s major types of customers are manufacturers of electronic
products, automobile, and wholesalers.
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Settlements
Purchase
Domestic Purchase
|
Products |
Components and raw materials |
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Payment Terms |
T/T, Cash |
Import
|
Products |
Components and raw materials |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Solar module |
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Selling Terms |
T/T, Cash |
Export
|
Product |
Solar module |
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Selling Terms |
L/C, T/T |
Financial Information
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. Li declined to
disclose its financials citing the grounds of company’s confidentiality; from other
sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Public Record
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.
Special Note
Interview Details
|
Name |
Mr. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.55 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
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Report Prepared
by : |
TPT |
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 |
|
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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 |
|
|
-- |
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.