|
Report No. : |
349657 |
|
Report Date : |
19.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PAI LUNG MACHINERY MILL CO., LTD. |
|
|
|
|
Registered Office : |
No.8, Ting Ping Rd., Ruifang Dist., New
Taipei City 224, (R.O.C.) |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
10.06.1977 |
|
|
|
|
Com. Reg. No.: |
20765242 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of Knitting Machines. |
|
|
|
|
No. of Employees : |
About 210 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.8, Ting Ping
Rd., Ruifang Dist., New Taipei City 224, Taiwan (R.O.C.) |
|
Supplied Address: |
No 8, Ting Fing
Road, Ruel Fang Industrial Park, Ruel Fang District, Industrial Area Taipei
Country |
|
Telephone Number: |
+886-2-2497-8888 |
|
Fax Number: |
+886-2-2496-5666 |
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are above.
Subject was incorporated
on 1977-6-10 with registered number 20765242
as Private Limited Liability Company in Taiwan.
Factory
|
Name: |
Ruifang Factory |
|
Address: |
No.8, Ting Ping Rd., Ruifang Dist., New Taipei
City 224, Taiwan (R.O.C.) |
|
Date of Registration: |
1999-3-6 |
|
Factory Registration Number: |
99617545 |
|
Factory Manager: |
Jiancang Wang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-6-19 |
|
Major Products: |
293 general machinery 251 metal hand tool and mould |
Major Related
Companies
|
1 |
|
|
Name |
|
|
Address |
No.178 Huangzhou Street, Huanggang City, Hubei Province, China |
|
Telephone Number |
+86-713-8396-888 |
|
Fax Number |
+86-713-8396-298 |
|
2 |
|
|
Name |
Vanguard Pai Lung LLC |
|
Address |
|
Major Shareholders
|
Name |
Subscription Shares |
|
Jiancang Wang |
10,586,265 |
|
Longsheng Investment Company Limited (Literal Translation) |
6,201,544 |
|
Zhaowei Investment Company Limited (Literal Translation) |
6,201,544 |
|
Wanyi Chen |
1,647,010 |
|
Jinchuan Sun |
1,421,205 |
|
Jinhua Chenlin |
1,283,834 |
|
Shiyang Chen |
14,852 |
Shareholder Information:
|
1 |
|
|
Name |
Longsheng Investment Company Limited (Literal Translation) |
|
Date of Foundation: |
1996-1-30 |
|
Registration Number: |
96932446 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 38,200,000 (USD 1,184,200) (As of 2015.11, 1 NTD = 0.031 USD) |
|
Paid-up Capital: |
NTD 28,000,000 (USD 968,000) |
|
Legal Representatives: |
Jiancang Wang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2015-10-15 |
|
2 |
|
|
Name |
Zhaowei Investment Company Limited (Literal
Translation) |
|
Date of Foundation: |
1996-2-1 |
|
Registration Number: |
96933938 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 38,200,000 (USD 1,184,200) (As of 2015.11, 1 NTD = 0.031 USD) |
|
Paid-up Capital: |
NTD 28,000,000 (USD 968,000) |
|
Legal Representatives: |
Jiancang Wang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2015-10-16 |
Core Management
Directors
|
1 |
|
|
Name |
Jiancang Wang |
|
Position |
Board Chairman & Manager |
|
Appointment Date of Manager: |
1997-6-13 |
|
2 |
|
|
Name |
Shuhui He |
|
Position |
Director |
|
3 |
|
|
Name |
Bozhen Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Wanyi Chen |
|
Position |
Director |
|
5 |
|
|
Name |
Jinchuan Sun |
|
Position |
Director |
|
6 |
|
|
Name |
Jinhua Chenlin |
|
Position |
Supervisor |
|
7 |
|
|
Name |
Shiyang Chen |
|
Position |
Supervisor |
|
8 |
|
|
Name |
Pengfei Su |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 210 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.8, Ting Ping Rd., Ruifang Dist., New Taipei City 224, Taiwan
(R.O.C.) |
Production Information
Subject is engaged in manufacturing of knitting machines, etc.
Subject has a factory in Taiwan for production.
It is introduced that subject also has a related factory whose name is
“Pailung (Hubei) Manufacturing Co., Ltd” (about 120,000 square meters) in
Mainland China for production.
Subject obtained the certification of ISO 9001:2000.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C801120 |
Synthetic fiber industry |
|
C805050 |
Industrial plastic products manufacturing |
|
C805070 |
Reinforced plastic products manufacturing |
|
C805990 |
Other plastic products manufacturing |
|
CB01010 |
Machinery and equipment manufacturing |
|
JE01010 |
Rental services |
|
F118010 |
Wholesales of information software |
|
F218010 |
Retails of information software |
|
I301010 |
Services of information software |
|
CD01030 |
Automobile and parts manufacturing |
|
F114030 |
Wholesales of car and motorcycle spare parts |
|
F214030 |
Retails of equipped with car, motorcycle parts |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The components and raw materials of the subject are mainly purchased
from China, Japan, Europe, etc.
Subject also purchases some products from its related factory in the
mainland of China.
Subject is engaged
in sale of knitting machines, etc.
The major products of the subject are Circle Knitting Machine (such as
Single Knit, Double Knit, Rib Knit, Terry Knit, Special Frame, Special Frame,
Ultra High Speed Series, etc.), Knitting Machine and etc.
It is introduced that subject has won 229 patents.
The major sales region of the subject includes the mainland China,
Middle East, Southeast Asia, Europe and USA, etc.
It is introduced that subject has own brand named “PAILUNG”.
Subject’s products are mainly applied to apparel manufacture, garment
accessory manufacture and upholstery manufacture, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Components and raw materials, knitting machines, etc. |
|
Payment Terms |
Interior Settlement, T/T, Cash, etc. |
Import
|
Products |
Components and raw materials |
|
Payment Terms |
L/C, T/T, etc |
Sales
Domestic Markets
|
Product |
Knitting machines, etc. |
|
Selling Terms |
Cash, T/T, etc |
Export
|
Product |
Knitting machines, 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.
|
Name |
Bank of Taiwan |
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
062599 |
|
Debtor Name: |
Pai Lung Machinery Mill Co., Ltd. |
|
Document Number: |
534363 |
|
Date of Registration: |
1999-7-19 |
|
Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
064800 |
|
Debtor Name: |
Pai Lung Machinery Mill Co., Ltd. |
|
Document Number: |
564683 |
|
Date of Registration: |
2000-1-31 |
|
Status: |
Paid off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
083413 |
|
Debtor Name: |
Pai Lung Machinery Mill Co., Ltd. |
|
Document Number: |
09405107000 |
|
Date of Registration: |
2005-5-9 |
|
Status: |
Paid off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
099067 |
|
Debtor Name: |
Pai Lung Machinery Mill Co., Ltd. |
|
Document Number: |
09930253380 |
|
Date of Registration: |
2010-1-12 |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
Registered Number: |
000745 |
|
Debtor Name: |
Pai Lung Machinery Mill Co., Ltd. |
|
Registry: |
Directorate-General of Highways, MOTC |
|
Mortgagee: |
FCB Leasing Co., Ltd. |
|
Date of Registration: |
2012-5-10 |
|
Amount of Secure Claims: |
NTD 24,000,000 |
|
Type of Subject Matter: |
Machinery, equipment or tools |
Lawsuit
|
1 |
|
|
Trial Number: |
2001,haishang,83 |
|
Date of Trial: |
2002-7-19 |
|
Reason: |
Compensation for damages |
|
Claimant: |
Pai Lung Machinery Mill Co., Ltd. |
|
Defendant: |
Zhenxing International Co., Ltd. (Literal
Translation) |
|
2 |
|
|
Trial Number: |
2001,haishang,58 |
|
Date of Trial: |
2002-10-4 |
|
Reason: |
Compensation for damages |
|
Claimant: |
Pai Lung Machinery Mill Co., Ltd. |
|
Defendant: |
Zhenxing International Co., Ltd. (Literal
Translation) |
|
3 |
|
|
Trial Number: |
2004,Su,3554 |
|
Date of Trial: |
2004-8-23 |
|
Reason: |
Returned cash deposit |
|
Claimant: |
Pai Lung Machinery Mill Co., Ltd. |
|
Defendant: |
Kanghe Leasing Co.., Ltd. (Literal
Translation) |
|
4 |
|
|
Trial Number: |
2006,zhi,1 |
|
Date of Trial: |
2006-3-8 |
|
Reason: |
Returned unjust enrichment |
|
Claimant: |
Pai Lung Machinery Mill Co., Ltd. |
|
Defendant: |
Not Stated |
|
5 |
|
|
Trial Number: |
2006,zhi,1 |
|
Date of Trial: |
2006-4-4 |
|
Reason: |
Returned unjust enrichment |
|
Claimant: |
Pai Lung Machinery Mill Co., Ltd. |
|
Defendant: |
Not Stated |
Interview Details
|
Name |
Ms. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
|
1 |
Rs.100.51 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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.