MIRA INFORM REPORT
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Report No. : |
332037 |
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Report Date : |
21.07.2015 |
IDENTIFICATION DETAILS
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Name : |
YEAR-CHANCE MACHINERY CO., LTD. |
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Registered Office : |
No.7, Ming Dung Rd., Yongkang Dist., Tainan
City 710 |
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Country : |
Taiwan |
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Date of Incorporation : |
07.09.1996 |
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Com. Reg. No.: |
97212022 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in manufacturing and
sales of plastic injection molding machine |
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No. of Employee : |
About 100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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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. 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.
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Source
: CIA |
Contact
Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.7, Ming Dung
Rd., Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-6-243-2155 |
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Fax Number: |
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E-mail: |
Notes:
The exact name and address are as above.
Company
Identification Details
History
Subject was
incorporated on 1996-9-7 with registered number 97212022
as Joint
Stock Company in Taiwan.
Corporate
Structure
Factory
|
Name: |
Yongkang Factory |
|
Address: |
No.7,
Ming Dung Rd., Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
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Date
of Registration: |
2004-5-19 |
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Factory
Registration Number: |
99684436 |
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Factory Manager: |
Shixian Huang |
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Status: |
In
production |
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Date of Last Annual Return: |
2004-5-19 |
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Major Products: |
292
Other specialized machinery and equipment |
Related Company
|
1 |
|
|
Name |
Suzhou
Year-Chance Machinery Co., Ltd. |
|
Address
|
Baimao
Industrial Park, Guli Township, Changshu City, Jiangsu Province, China
(beside 204 national highway) |
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Telephone
Number |
+86-512-52538222 |
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Fax
Number |
+86-512-52305300 |
Major Offices
|
1 |
|
|
Name |
Taipei
Office |
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Address
|
No.22,
Ln. 37, Sec. 2, Zhongxing Rd., Wugu Dist., New Taipei City, Taiwan |
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Telephone
Number |
+886-2-29868116 |
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Fax
Number |
+886-2-29868580 |
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2 |
|
|
Name |
Taichung
Office |
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Address
|
No.6,
Ln. 701, Renhua Rd., Dali Dist., Taichung City, Taiwan |
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Telephone
Number |
+886-4-24931557 |
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Fax
Number |
+886-4-24931876 |
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3 |
|
|
Name |
Indonesia
office |
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Address
|
PT.RIA
SARANA PERDANA ENGINEERING JL. Bandengan Utara 83 L/M, Jakarta 14440,
Indonesia. |
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Telephone
Number |
+62-21-6692279 |
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Fax
Number |
+62-21-6694921 |
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4 |
|
|
Name |
Vietnam
office |
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Address
|
Số
nhà 26, đường số 1, quận Bình Trị Đông
B - Bình Tân, Thành Phố Hồ Chí Minh |
|
Telephone
Number |
+84-8-3751-1901 |
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Fax
Number |
+84-8-3751-1901 |
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5 |
|
|
Name |
Brazil
office |
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Address
|
R.
Senador Felício dos Santos, 410 Liberdade CEP:01511-010 São Paulo S.P Brazil |
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Telephone
Number |
+55(11)3542-3688 |
Shareholders
Major
Shareholders
|
Name |
Subscription Shares |
|
Shixian Huang |
1,232,000 |
|
Meizhi Liu |
|
|
982,000 |
|
|
Jianyao
Huang |
393,000 |
Management
Information
Core Management
Directors
|
1 |
||
|
Name |
Shixian Huang |
|
|
Position |
Board
Chairman |
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|
2 |
||
|
Name |
Meizhi
Liu |
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|
Position |
Director
|
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|
3 |
||
|
Name |
Jianyao
Huang |
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Position |
Director |
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|
4 |
||
|
Name |
Yongxian
Liu |
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Position |
Supervisor
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Personnel Structure
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Total
Employees |
About 100 Employees |
Operation
Information
Offices
& Factories
|
|
Headquarters |
|
Add |
No.7, Ming Dung Rd., Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
Production Information
Subject
is engaged in manufacturing of plastic
injection molding machine, etc.
It
is introduced that subject has a factory in Taiwan for production.
Subject
obtained the certification of ISO9001, and CE, etc.
Purchase Information
The
registered activities of subject:
|
Business
Code |
Details |
|
1
|
Manufacturing
and trading business of plastic injection molding machinery, crushing
machinery. |
|
2
|
Manufacturing
and trading business of mechanical parts. |
|
3
|
Import and export trade
business of relevant products. |
|
4
|
General
import and export trade business (Besides licensed business). |
The
components and raw materials for production are mostly purchased both at home
and abroad, such as Taiwan, Japan, and Italy, etc.
Subject is engaged in sale of plastic injection molding machine, etc.
The
major products sold by subject include C-Series Injection Molding Machine,
V-Series Injection Molding Machine, E-Series Injection Molding Machine,
R-Series Two-color Injection Molding Machine, MII-Series Two-platen Injection
Molding Machine, NH-Series Injection Molding Machine, VF-Series Vertical
Injection Molding Machine, D-Series Direct Hydraulic Clamping Injection Molding
Machine, S-Series Energy-saving Servo Injection Molding Machine, etc.
Subject’s
sales regions include domestic market, Southeast Asia, central Asia,
America, Europe, and North Africa, etc.
The
general delivery lead time of subject is about 30 to 40 days.
One
of subject’s major customers is National Products Inc.
Import
and export right:
|
Import
right |
Yes |
|
Export
right |
Yes |
Settlements
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. |
Sales
Domestic
Markets
|
Product |
Plastic injection molding machine, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Plastic injection molding machine, etc. |
|
Selling Terms |
L/C, T/T, etc. |
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 Ms. Zhao declined to disclose
its financials citing the grounds of company’s confidentiality; from other
sources we could not obtain such information, either.
Bankers
|
Name |
Mega
International Commercial Bank |
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 |
Ms. Zhao |
|
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
: |
KAS |
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Report Prepared
by : |
ASH |
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 |
|
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 |
-- |
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.