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Report No. : |
351351 |
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Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
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Name : |
ECOCA INDUSTRIAL CO., LTD. |
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Registered Office : |
No.401, 28th Rd., Taichung Industrial Park, Taichung City, Taiwan, R.O.C. |
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Country : |
Taiwan |
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Date of Incorporation : |
31.01.1980 |
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Com. Reg. No.: |
52583532 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sale of CNC Lathe. |
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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 |
|
|
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 : |
Slow but correct |
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Litigation : |
Exist |
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 |
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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.401, 28th
Rd., Taichung Industrial Park, Taichung City, Taiwan, R.O.C. |
|
Supplied Address: |
No 401, 28th Rd, Taichung Industrial Park,
Taichung Taiwan 40768 Taiwan |
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Telephone Number: |
+886- 4-2359-7666 |
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Fax Number: |
|
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E-mail: |
Note: The exact name and address are as above.
Note: Subject declined to
disclose its staff number, and from other source we can’t obtain the information,
either.
Subject was incorporated
on 1980-1-31 with registered number 52583532
as Joint Stock Company in Taiwan
Factory
|
Address: |
No. 401, 28th Rd., Xie He Li Industrial
Zone, Xitun Dist., Taichung, Taiwan |
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Date of Foundation: |
1990-12-4 |
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Date of Registration: |
1992-6-13 |
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Factory Registration Number: |
99669293 |
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Factory Manager: |
Xiucang Xu |
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Status: |
In production |
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Date of Last Annual Return: |
2010-8-12 |
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Major Products: |
291 Metal processing machinery equipment |
Major Shareholders
|
Name |
Subscription Shares |
|
Xiucang Xu |
912,271 |
|
Zhuanglin Chen |
|
|
331,030 |
|
|
Leadwell CNC Machines Mfg., Corp. |
4,572,523 |
|
Fair Friend Enterprise Co., Ltd. |
3,575,860 |
|
Bangzhi Zheng |
501,086 |
Shareholder Information:
|
1 |
|
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Registered Name: |
Leadwell CNC Machines Mfg., Corp. |
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Registered Address: |
No. 23, 33th Rd., Xie He Li Industrial Zone,
Xitun Dist., Taichung, Taiwan |
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Date of Foundation: |
1980-10-7 |
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Registration Number: |
97513218 |
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Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
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Registered Capital: |
NTD 1,800,000,000 (USD 55,260,000) (As of 2015.11, 1 NTD = 0.0307 USD) |
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Paid-up Capital: |
NTD 613,469,250 (USD 18,833,506) |
|
Legal Representatives: |
Weiyi Huang |
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Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2013-12-13 |
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2 |
|
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Registered Name: |
Fair Friend Enterprise Co., Ltd. |
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Registered Address: |
No. 186, Yongji Rd., Xinyi Dist., Taipei
City, Taiwan |
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Date of Foundation: |
1979-3-15 |
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Registration Number: |
30878408 |
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Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
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Registered Capital: |
NTD 1,619,972,970 (USD 49,733,170) (As of 2015.11, 1 NTD = 0.0307 USD) |
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Paid-up Capital: |
NTD 1,024,291,740 (USD 31,445,756) |
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Legal Representatives: |
Yuwei Zhu |
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Legal Form: |
Joint Stock Company |
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Date of Last Annual Return: |
2015-5-19 |
Core Management
Directors
|
1 |
||
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Name |
Xiucang Xu |
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Position |
Board Chairman |
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2 |
||
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Name |
Zhuanglin Chen |
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Position |
Director |
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3 |
||
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Name |
Zhixiang Zhang |
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Position |
Director |
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4 |
||
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Name |
Zhengqin Tang |
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Position |
Director |
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|
5 |
||
|
Name |
Qingchang Chen |
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Position |
Director |
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6 |
||
|
Name |
Xiuxia Huang |
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Position |
Supervisor |
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7 |
||
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Name |
Bangzhi Zheng |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 100 employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.401, 28th Rd., Taichung Industrial Park, Taichung City, Taiwan,
R.O.C. |
Production Information
Subject is engaged in manufacturing of CNC Lathe.
Subject has a factory in Taiwan for production.
Subject obtained the certification of ISO 9000, ISO-9000/2000 and
ISO-9001/2000.
Purchase Information
The registered activities of subject:
|
1 |
Manufacturing, processing and trading of computer lathe, drilling
machine, milling machine, lathe machine, planing machine, compound machine,
hobbing machine, punch boring machine, grinding machine, tapping machine and
other machine tools and mechanical hardware parts |
|
2 |
Coating paint hair embryo grinding and install of related machinery |
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3 |
Design, develop and install of special machine tool software system |
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4 |
About import and export trade business (except for licensed business) |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
The components and raw material for production are purchased from both
home and abroad.
Subject is engaged in sale of
CNC Lathe.
Subject’s major products are CNC
lathe, electronic lathe, high speed precision lathe, CNC vertical
machining center and double column machining center.
Subject’s products are mainly applied in the processing and production
of ceramic products, mechanical parts, automobile components and gear.
Subject sells the products with the brand named ECOCA
Subject’s sales regions include domestic market, USA, Britain, Brazil,
Germany, Denmark, Hong Kong, Singapore and South Africa.
Subject’s major customers are manufacturers of electronic products, mold
and automotive part.
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw material |
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Payment Terms |
T/T, Cash |
Import
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Products |
Raw material |
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Payment Terms |
L/C, T/T |
Sales
Domestic Markets
|
Product |
CNC Lathe |
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Selling Terms |
T/T, Cash |
Export
|
Product |
CNC Lathe |
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Selling Terms |
L/C, T/T |
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
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1 |
|
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Trial Number: |
2003, Zhongjian, 3240 |
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Date of Trial: |
2003-12-30 |
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Reason: |
Confirm the promissory note of creditor's
rights not exist |
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Claimant: |
Not stated |
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Defendant: |
Ecoca Industrial Co., Ltd. |
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2 |
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Trial Number: |
2010, Zhong bu, 1286 |
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Date of Trial: |
2010-8-9 |
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Reason: |
Payment for goods |
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Claimant: |
Zhenjie Enterprise Co., Ltd (literal
translation) |
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Defendant: |
Ecoca Industrial Co., Ltd. |
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3 |
|
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Trial Number: |
2010, Zhong bu, 2556 |
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Date of Trial: |
2010-9-30 |
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Reason: |
Payment for goods |
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Claimant: |
Zhenjie Enterprise Co., Ltd (literal
translation) |
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Defendant: |
Ecoca Industrial Co., Ltd. |
Interview Details
|
Name |
Mr. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.55 |
|
|
1 |
Rs.100.64 |
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Euro |
1 |
Rs.70.70 |
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TWD |
1 |
Rs.2.05 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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Report Prepared by
: |
TPT |
RATING EXPLANATIONS
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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.