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Report No. : |
349700 |
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Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
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Name : |
FUKAHAMA MACHINERY CO., LTD. |
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Registered Office : |
No.43, Lane 73, Rong Shing Rd., Bade Dist.,
Taoyuan City 334 |
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Country : |
Taiwan |
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Date of Incorporation : |
15.02.1988 |
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Com. Reg. No.: |
22782133 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in manufacturing and
sales of textile machinery |
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No. of Employee : |
50 |
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 |
|
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.43, Lane 73,
Rong Shing Rd., Bade Dist., Taoyuan City 334, Taiwan (R.O.C.) |
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Supplied Address: |
NO.43,LANE
73,RONG SHING ROAD, DAH AN VILLAGE,BA DER TAOYUAN HSIEN(33463)TAIWAN, |
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Telephone Number: |
+886-3-366-1210 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
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Registered Name: |
FUKAHAMA MACHINERY CO., LTD. |
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Registered Address: |
No.43, Lane 73, Rong Shing Rd., Bade Dist.,
Taoyuan City 334, Taiwan (R.O.C.) |
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Date of Foundation: |
1988-2-15 |
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Registration Number: |
22782133 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2015.06, 1 NTD = 0.032 USD) |
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Paid-up Capital: |
NTD 21,000,000 (USD 672,000) |
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Legal Representatives: |
Zhengsong Lai |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated
on 1988-2-15 with registered number 22782133
as Joint Stock Company in Taiwan.
Factory
|
Address: |
No.43, Lane 73, Rong Shing Rd., Bade Dist.,
Taoyuan City 334, Taiwan (R.O.C.) |
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Date of Foundation: |
1986-1-21 |
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Date of Registration: |
1988-2-29 |
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Factory Registration Number: |
99628329 |
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Factory Manager: |
Zhengsong Lai |
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Status: |
In production |
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Date of Last Annual Return: |
2015-1-15 |
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Major Products: |
292 general special developing equipment |
Major Shareholders
|
Name |
Subscription Shares |
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Zhengsong Lai |
3,500 |
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Xihuan Zhang |
3,500 |
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Chenghao Chen |
3,500 |
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Xincai You |
3,500 |
Core Management
Directors
|
1 |
||
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Name |
Zhengsong Lai |
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Position |
Board Chairman |
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2 |
||
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Name |
Xihuan Zhang |
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Position |
Director |
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3 |
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Name |
Chenghao Chen |
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Position |
Director |
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4 |
||
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Name |
Xincai You |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 50 Employees |
Offices & Factories
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Headquarters |
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Add |
No.43, Lane 73, Rong Shing Rd., Bade Dist., Taoyuan City 334, Taiwan
(R.O.C.) |
Production Information
Subject is engaged in manufacturing of textile machinery and etc.
Subject has a factory in Taiwan for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacture, processing and sales of knitting machines, automobile
parts, food machinery, handling machinery and relevant components. |
|
-- |
Import and export trading business of the above mentioned items |
|
-- |
Machinery installation project. |
Subject purchases its components and etc both at home and abroad.
It is introduced that subject imports some specific components from
Japan and Germany.
Subject is engaged in sale of textile machinery and etc.
The major products are knitting machine such as circular weaving
machines, etc.
Subject’s sales regions include Asia, Europe, America and etc.
Subject’s major customers are textile industry.
It is introduced that subject has its own brand named “Fukahama”.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
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Products |
Components, etc |
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Payment Terms |
Cash, T/T and etc |
Import
|
Products |
Components, etc |
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Payment Terms |
L/C, T/T and etc |
Sales
Domestic Markets
|
Product |
Textile machinery and etc. |
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Selling Terms |
Cash, T/T and etc |
Export
|
Product |
Textile machinery and etc. |
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Selling Terms |
L/C, T/T and 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 Mr. Chen 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. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.79 |
|
UK Pound |
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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 |
|
<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.