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Report No. : |
347388 |
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Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
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Name : |
L.K. MACHINERY CORP. |
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Registered Office : |
No.30, Keyuan Rd., Xitun Dist., Taichung
City 40763 |
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Country : |
Taiwan |
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Date of Incorporation : |
04.11.2002 |
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Com. Reg. No.: |
80072883 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in manufacturing and
sales of CNC machining center products |
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No. of Employee : |
About 100 |
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 |
|
Risk Category |
ECGC
Classification |
|
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. 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 the ECFA, including a signed agreement on trade in services and negotiations on trade in goods and dispute resolution, have stalled. In early 2014, the government bowed to public demand and proposed 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 nearly 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 (MOU) 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 Taiwan’s 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.30, Keyuan Rd., Xitun Dist., Taichung
City 40763, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-4-2461-9797 |
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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 2002-11-04 with registered
number 80072883 as Joint Stock
Company in Taiwan.
Factory
|
Name: |
Zhongke Factory |
|
Address: |
No.30, Keyuan
Rd., Xitun Dist., Taichung City 40763, Taiwan (R.O.C.) |
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Date of
Registration: |
2012-05-31 |
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Factory
Registration Number: |
93B00132 |
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Factory Manager: |
Mengcong Lin |
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Status: |
In Production |
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Date of Last Annual Return: |
2012-09-07 |
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Major Products: |
291 Metal
processing machinery equipment |
Related Companies
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1 |
|
|
Name: |
L.K. Machinery
International Limited (L.K. Group HQ) |
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Address: |
Unit A, G/F.,
& Unit A, /F., Mai Wah Industrial Buliding, 1-7 Wah Sing Street, Kwai
Chung, N.T., Hong Kong |
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Tel: |
+852-3412-5500 |
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Fax: |
+852-3412-5522 |
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2 |
|
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Name: |
Shanghai Atech
Machinery Co. LTD. |
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Address: |
42, Min Yi Road,
Xin Qiao Development Area Song Jiang Industry Zone, Shanghai PRC |
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Tel: |
+86-021-5768-5788 |
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Fax: |
+86-021-5768-6013 |
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3 |
|
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Name: |
L.K. Thai Prex
Engineering |
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Address: |
99/10 Moo 2,
T.Bankao, A. Panthong, Chonburi 20160 Thailand |
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Tel: |
+0-3845-4809 |
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Fax: |
+0-3815-6098 |
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4 |
|
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Name: |
IDRA s.r.l.
(L.K. Group) |
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Address: |
Via dei Metalli,
2-25039 Travagliato-Brescia-Italy |
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Tel: |
+39-030-20111 |
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Fax: |
+39-030-2002-345 |
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5 |
|
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Name: |
Mir Stanochnika
LLC |
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Address: |
115114, Moscow,
Derbenevskaya Str. 20, Building 24, 2nd Floor |
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Tel: |
+7-495-95-96-777 |
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Fax: |
+7-495-95-96-777
((Extension number 108 or 107) |
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6 |
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Name: |
L.K. Machinery,
INC. |
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Address: |
4508 128th
Avenue Holland, MI 49424 USA |
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Tel: |
+616-796-0777 |
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Fax: |
+616-582-6060 |
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7 |
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Name: |
Cosa
Intermaquinas Comercio De Maquinas E Equipametntos Ltda |
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Address: |
Rua Eduardo
Ferragut, 72-Portal-CEP:13280-000-Vinhedo-SP Brazil |
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Tel: |
+19-3886-3003 |
Major Shareholder
|
Name |
Subscription Shares |
|
Cyberbay Pte Ltd |
|
|
21,100,000 |
Core Management
Directors
|
1 |
||
|
Name |
Zhuoming Liu |
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Position |
Chairman of the
Board |
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2 |
||
|
Name |
Jiaji Kang |
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Position |
Director |
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3 |
||
|
Name |
Xiaozheng Sheng |
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Position |
Director |
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4 |
||
|
Name |
Jianming Huang |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 100 Employees |
Offices & Factories
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Headquarters |
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Add |
No.30, Keyuan Rd., Xitun Dist., Taichung City 40763, Taiwan (R.O.C.) |
Production Information
l
Subject is engaged in manufacturing of CNC Machining Center products, etc.
l
Subject has a factory in Taiwan for production.
l
Subject obtained the certification of ISO 9001 and
ISO 14001.
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
E604010 |
Machinery installation industry |
|
F106030 |
Mould wholesaling |
|
F113010 |
Machinery wholesaling |
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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 |
l
The components and raw materials for production are
purchased from both home and abroad.
l Subject is engaged
in sales of CNC machining center
products, etc.
l
The major products are vertical machining center,
horizontal machining center, pallet changer VMC, 5 axis machining center,
high-speed bridge-type machining center, etc.
l
It is introduced that the products are mainly
applied for electronics, automotive, mold & die, aerospace, household
appliances, general machining, die casting after production, etc.
l
Subject’s sales regions include domestic market,
Southeast Asia and Europe, etc.
l
Subject’s major customers are manufacturers of
parts of 3C, automotive and die casting after production, etc.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials and components, etc. |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Raw materials and components, etc. |
|
Payment Terms |
L/C, T/T, etc. |
1.
Domestic Markets
|
Product |
CNC Machining Center products, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
CNC Machining Center products, etc. |
|
Selling Terms |
L/C, T/T, etc. |
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.
Subject declined
to disclose its bank details; from other source we could not obtain the
relevant information, either.
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.
Interview Details
|
Name |
Mr. Lv |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.48 |
|
UK Pound |
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
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Report Prepared
by : |
ASH |
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 |
-- |
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.