MIRA INFORM REPORT
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Report No. : |
332487 |
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Report Date : |
22.07.2015 |
IDENTIFICATION DETAILS
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Name : |
KAUO HENG PRECISION MACHINERY INDUSTRIAL
CO., LTD. |
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Registered Office : |
No.152, Sec. 1, Zhonghua Rd., Tucheng Dist.,
New Taipei City 23666, (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
01.06.1981 |
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Com. Reg. No.: |
34451931 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Sales of Knitting Machines |
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No. of Employees : |
About 60 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 – 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.152, Sec. 1,
Zhonghua Rd., Tucheng Dist., New Taipei City 23666, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-2-2263-9258/2956-0272 |
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Fax Number: |
Company
Identification Details
History
Subject was incorporated
on 1981-6-1 with registered number 34451931
as Private Limited Liability Company in Taiwan.
Corporate
Structure
Factory
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Name: |
Tu Cheng Factory |
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Address: |
1/F, 2/F and 3/F, No.152, Sec. 1, Zhonghua Rd., Tucheng Dist., New
Taipei City 23666, Taiwan (R.O.C.) |
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Date of Registration: |
2013-10-21 |
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Factory Registration Number: |
65002557 |
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Factory Manager: |
Guoling He |
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Status: |
In production |
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Date of Last Annual Return: |
2013-10-21 |
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Major Products: |
292 Other special machinery and equipment 293 General machinery equipment |
Related Company
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Name: |
Shanghai Lingfeng Trading Co. Ltd. |
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Tel: |
+86-139 165 146 31 |
Shareholders
Major Shareholders
|
Name |
Subscription Amount |
|
Guoling He |
19,000,000 |
Management
Information
Core
Management
Directors
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1 |
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Name |
Guoling He |
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Position |
Director |
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2 |
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Name |
Xinbo Lv |
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Position |
Manager |
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Date of Appointment |
2000-11-15 |
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3 |
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Name |
Fuquan Lin |
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Position |
Manager |
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Date of Appointment |
2000-11-15 |
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4 |
||
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Name |
Changxun He |
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Position |
Manager |
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Date of Appointment |
2012-2-15 |
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Personnel Structure
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Total Employees |
About 60 Employees |
Operation
Information
Offices & Factories
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Headquarters |
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Add |
No.152, Sec. 1, Zhonghua Rd., Tucheng Dist., New Taipei City 23666,
Taiwan (R.O.C.) |
Production
Information
Subject is engaged in manufacturing of knitting machines, etc.
Subject has a factory in Taiwan for production.
Purchase
Information
The registered activities of subject:
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No. |
Details |
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1 |
Knitting machines and other parts manufacturing business sales and
agency business. |
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2 |
The above-mentioned import and export business |
The components and raw material for production are purchased from both
home and abroad.
Subject is engaged in sale of knitting machines, etc.
Subject’s major products are collar machine, sweater knitting machine, strapping machine and so on.
Subject’s sales regions cover Asia, Europe, America and etc.
Subject’s major customers are manufacturers of garment, retailers of
machinery and equipment, etc.
One of subject’s major customers is Rosario Mayola Gutierrez De Leon.
It is introduced that subject has an agent in Singapore.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Settlements
PURCHASE
Domestic Purchase
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Products |
Raw material, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw material, etc. |
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Payment Terms |
L/C, T/T, etc. |
SALES
Domestic Markets
|
Product |
Knitting machines, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Knitting machines, etc. |
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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 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
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.65 |
|
|
1 |
Rs.99.14 |
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Euro |
1 |
Rs.68.91 |
INFORMATION DETAILS
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Analysis Done by
: |
SAN |
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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.