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Report No. : |
333795 |
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Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
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Name : |
FANG SHENG SCREW CO., LTD. |
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Registered Office : |
No.17, Ben Gong 2nd Rd., Gangshan Dist., Kaohsiung City 820, Taiwan (R.O.C.) |
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Country : |
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Date of Incorporation : |
17.10.1983 |
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Com. Reg. No.: |
88743843 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sales of Screws. |
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No. of Employees : |
About 400 |
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 : |
No Complaints |
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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 |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.17, Ben Gong
2nd Rd., Gangshan Dist., Kaohsiung City, Taiwan (R.O.C.) |
|
Supplied Address: |
NO 17 BEN GONG
2ND ROAD BEN CHOU INDUSTRIAL PARK GANSHAN DIST KAOHSIUNG CITY 820 TAIWAN |
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Telephone Number: |
+886-7-623-0306 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
Subject was incorporated on 1983-10-17 with registered
number 88743843 as Joint Stock
Company in Taiwan.
Factories
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1 |
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Name: |
The 1st Gangshan Factory |
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Address: |
No.17, Ben Gong 2nd Rd., Benzhou Li, Gangshan Dist., Kaohsiung City,
Taiwan (R.O.C.) |
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Date of Registration: |
2003-07-31 |
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Factory Registration Number: |
99685322 |
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Factory Manager: |
Chaosheng Cai |
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Status: |
In Production |
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Date of Last Annual Return: |
2003-07-31 |
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Major Products: |
259 Other metal products |
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2 |
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Name: |
The 2nd Gangshan Factory |
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Address: |
No.8, Ben Gong Ring West Rd., Benzhou Li, Gangshan Dist., Kaohsiung
City, Taiwan (R.O.C.) |
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Date of Registration: |
2014-12-29 |
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Factory Registration Number: |
64007195 |
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Factory Manager: |
Chaosheng Cai |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-12-29 |
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Major Products: |
254 Metal treatment 259 Other metal products |
Major Shareholders
|
Name |
Subscription Shares |
|
Chaosheng Cai |
|
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3,653,514 |
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Chaofang Cai |
6,632,432 |
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Chaoqin Cai |
3,653,514 |
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Chaojin Cai |
3,653,514 |
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Chaosong Cai |
4,871,427 |
Core Management
Directors
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1 |
||
|
Name |
Chaosheng Cai |
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Position |
Chairman of the Board |
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2 |
||
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Name |
Chaofang Cai |
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Position |
Director |
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3 |
||
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Name |
Chaoqin Cai |
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Position |
Director |
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4 |
||
|
Name |
Chaojin Cai |
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Position |
Director |
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5 |
||
|
Name |
Chaosong Cai |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 400 Employees |
Offices & Factories
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|
Headquarters |
|
Add |
No.17, Ben Gong 2nd Rd., Gangshan Dist., Kaohsiung City, Taiwan
(R.O.C.) |
Production Information
Subject is engaged in manufacturing of screws.
Subject has two factories in Kaohsiung City, Taiwan for production.
Subject obtained the certification of ISO 9001, ISO/TS 16949, ISO 14001,
and ISO 17025.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CA02030 |
Manufacturing of screw, nut, screw spike and rivet, etc. |
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F106010 |
Hardware wholesaling |
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G801010 |
Warehousing industry |
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F401010 |
International trade |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The raw materials for production are purchased in Taiwan and South
Korea.
It is introduced that one of subject’s suppliers is China Steel
Corporation.
Subject is engaged in sales of screws.
The major products are hexagon socket head cap; hexagon socket
countersunk head cap screw, hexagon flange bolt and so on.
It is introduced that subject also provide the ordering services for car
screws and special purpose.
Subject’s sales regions include domestic market, Southeast Asia, America
and Europe.
The general delivery lead time of subject is about 90 days.
Subject’s major customers are manufacturers of machinery, car and
electrical appliance.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase (Taiwan)
|
Products |
Raw materials |
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Payment Terms |
T/T, Cash |
Import (South Korea)
|
Products |
Raw materials |
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Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Screws |
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Selling Terms |
T/T, Cash |
Export
|
Product |
Screws |
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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 declined to disclose
its financials citing the grounds of company’s confidentiality; from other
sources we could not obtain such information, either.
|
Name |
Chang Hwa Bank |
Mortgage
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Case Type: |
Chattel Mortgage |
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File No.: |
092436 |
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Debtor Name: |
Fang Sheng Screw Co., Ltd. |
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Document Number: |
09605171950 |
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Date of Registration: |
2007-10-30 |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
|
Name |
Ms. Chen |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.99.71 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
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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 |
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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.