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Report No. : |
321032 |
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Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ZITAI PRECISION MACHINERY CO., LTD. |
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Registered Office : |
No.172, Hsi Tou Rd., Shengang Dist., Taichung City 429, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
28.01.1985 |
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Com. Reg. No.: |
56807040 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of cold chamber die
casting machines. |
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No. of Employees : |
About 100 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A2 |
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, negotiations on follow-on components of ECFA, including an agreement
on trade in services, deals 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 over 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 fourth largest, behind those of China, Japan,
and Russia. 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 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.172, Hsi Tou
Rd., Shengang Dist., Taichung City 429, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-4-2561-1858 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1985-1-28 with registered number 56807040
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Songrun Zhan |
7,327 |
|
Weizhong Lan |
5,280 |
|
Henglin Gu |
5,280 |
|
Yongkun Guo |
6,560 |
Note: The information above is that of subject’s major shareholders.
Factory
|
Address: |
No.172, Hsi Tou Rd., Shengang Dist.,
Taichung City 429, Taiwan |
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Date of Foundation: |
1992-4-14 |
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Date of Registration: |
1992-4-27 |
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Factory Registration Number: |
99635005 |
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Factory Manager: |
Songrun Zhan |
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Status: |
In Production |
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Date of Last Annual Return: |
2002-2-25 |
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Major Products: |
293 General machinery and equipment |
Related Company
|
Name |
Ningbo Zitai Precision Machinery Co., Ltd |
|
Address |
No.558 Mingzhou W. Road, Beilun, Ningbo, Zhejiang Province, China |
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Registered Number |
330200400028589 |
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Date of Foundation |
2001-8-22 |
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Registered Capital |
USD 6,000,000 |
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Telephone Number |
+86-574-8680-5888 |
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Fax Number |
+86-574-8680-5860 |
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Principal Activities |
Research, development and manufacture die casting technique, new
process materials, die casting mould, melted equipment of die casting machine
and its ancillary equipment |
Core Management
Directors
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1 |
|
|
Name |
Songrun Zhan |
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Position |
Chairman of the Board |
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2 |
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Name |
Weizhong Lan |
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Position |
Director |
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3 |
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Name |
Henglin Gu |
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Position |
Director |
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4 |
|
|
Name |
Yongkun Guo |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 100 Employees |
Offices & Factories
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|
Headquarters |
|
Add |
No.172, Hsi Tou Rd., Shengang Dist., Taichung City 429, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of cold chamber die casting machines.
Subject has a factory in Taichung City of
Taiwan for production.
It is introduced that subject has a related
factory in Ningbo City of the Mainland of China for production.
Purchase Information
The registered activities of subject:
|
No. |
Details |
|
1 |
The manufacturing processing and sale of business of Qu hand type
injection molding machine, direct pressure injection molding machine, oil pressure
aluminum die casting machine, hot type full automatic die casting machine all
kinds of oil pressure single machines and its parts. |
|
2 |
The importing, exporting and investment business |
It is introduced that the components and raw materials for production
are both purchased in Taiwan local market and from Japan, etc.
Subject is engaged in sale of cold chamber die casting machines.
Subject’s major products include gravity casting machine,
die casting machine, peripheral equipment like ZLB series-auto ladler, ZSP
series-auto sprayer, ZPU series-auto extractor.
It is introduced that subject also provides after-sales services for its
customers.
The major sales regions of the subject are
domestic market, Japan, Korea, Southeast Asia, America, Europe.
The general delivery lead time of subject is about 60 days for general
machines and 90 days for special machines.
Subject’s products are mainly used in
manufacturing of cash register and bikes.
It is introduced that subject has its owned brand named “ZITAI”.
The agents of the subject are mainly as follows:
|
Brazil |
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Russia |
CYBERTECH TAIWAN Inc. |
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Argentina |
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Mexico |
FERZIJ , S.A. de C.V. |
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Thailand |
IRD ENGINEERING CO., LTD. |
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India |
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Turkey |
GENERAL MAKINA |
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Colombia |
IMOCOM S.A. |
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Chile |
RAUL CARNERO Y CIA. LTDA. |
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Germany |
DRUCKGUSS SERVICE DEUTSCHLAND GMBH |
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China Mainland |
Shanghai Office of Ningbo Zitai Precision Machinery Co., Ltd |
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Dongguan Office of Ningbo Zitai Precision Machinery Co., Ltd |
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Qingdao Office of Ningbo Zitai Precision Machinery Co., Ltd |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Components and raw materials |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Components and raw materials |
|
Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
Cold chamber die casting machines |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Cold chamber die casting machines |
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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
source we can not obtain the relevant information, either.
|
Name |
Mega International Commercial Bank |
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.
|
Name |
Ms. Zhang |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
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Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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.