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Report No. : |
351396 |
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Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
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Name : |
SWITCH MEANS INDUSTRIAL CO., LTD. |
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Formerly Known As : |
SWITCH MEAN'S INDUSTRIAL CO., LTD |
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Registered Office : |
7F.-6, No.81, Sec. 1, Shin Tai Wu Rd., Xizhi
Dist., New Taipei City 221, (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
07.08.1987 |
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Com. Reg. No.: |
22622538 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of machinery and related materials. |
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No. of Employees : |
Not Available |
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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Taiwan |
A1 |
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. 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: |
7F.-6, No.81,
Sec. 1, Shin Tai Wu Rd., Xizhi Dist., New Taipei City 221, Taiwan (R.O.C.) |
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Supplied Address: |
F-6, NO 81,
SEC.1, SHIN-TAI WU ROAD HSI-CHIH CITY, TAIPEI HSIEN P.O. BOX 22101 Taiwan |
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Telephone Number: |
+886-2-2698-4558
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
Notes: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant
information, either.
Subject was incorporated
on 1987-8-7 with registered number 22622538
as Joint Stock Company in Taiwan.
Change of Name
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Former English Name: |
Switch Mean's Industrial Co., Ltd |
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Current English Name: |
Switch Means Industrial Co., Ltd. |
Offices
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Beijing office Address: 8F, Tower No. 7, Central Park, No.
6 Chaowai Street, ChaoYang District,Beijing 100020, China Phone: +86 10 6597 0058 Fax:+86 10 6597 0059 Email: ubbj@public.bta.net.cn Shanghai office (Industrial Paper Cutter) Address: Room 2003, #2 Building, No. 789,
Tianshan Rd, Changning District, Shanghai 200051 Phone: +86 21 6259 2075 Fax: +86 21 6259 2162 Email: smsh@switchmeans.com |
Major Shareholders
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Name |
Subscription Shares |
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Anzhi Liao |
1,721,150 |
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Xinhe Yang |
600,000 |
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Jiahong Ye |
650,000 |
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Gefen Zhang |
250,000 |
Core Management
Directors
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1 |
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Name |
Anzhi Liao |
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Position |
Board Chairman |
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2 |
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Name |
Xinhe Yang |
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Position |
Director |
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3 |
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Name |
Jiahong Ye |
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Position |
Director |
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4 |
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Name |
Gefen Zhang |
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Position |
Supervisor |
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5 |
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Name |
Anzhi Liao |
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Position |
Manager |
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Date of Appointment |
2004-12-23 |
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Offices & Factories
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Headquarters |
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Add |
7F.-6, No.81, Sec. 1, Shin Tai Wu Rd., Xizhi Dist., New Taipei City
221, Taiwan (R.O.C.) |
Production Information
Subject is a trader of machinery
and related materials, etc without any production activities.
Purchase Information
The registered activities of subject:
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Business Code |
Details |
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C801030 |
Manufacturing of precision chemicals. |
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CB01010 |
Manufacturing of machinery and equipment. |
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CB01990 |
Manufacturing of other machinery. |
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CD01030 |
Manufacturing of automobile and its components. |
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CE01030 |
Manufacturing of optical instrument. |
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CH01010 |
Manufacturing of sport products. |
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CI01010 |
Manufacturing of cable, wire and net. |
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F107200 |
Wholesales of chemicals. |
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F107990 |
Wholesales of other chemical products. |
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F109070 |
Wholesales of education and culture products, music instrument, and
entertainment products. |
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F113010 |
Wholesales of machinery. |
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F113030 |
Wholesales of precision instrument. |
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F113090 |
Wholesales of traffic signs. |
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F113990 |
Wholesales of other machinery and tools. |
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F114080 |
Wholesales of railway and its components. |
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F114990 |
Wholesales of transportation tools and its components. |
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F199990 |
Other wholesales. |
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E604010 |
Installing of machinery. |
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EZ99990 |
Other engineering project. |
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JE01010 |
Renting business. |
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CC01990 |
Manufacturing of motor and electronic machinery. |
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CD01020 |
Manufacturing of railway and its components. |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
Subject purchases its products both at home and abroad.
It is introduced that subject imports some products from Europe such
Italy and etc.
Subject is engaged in sale of machinery and related materials, etc
The major products include construction equipments, industrial paper
cutters, related equipment and materials for railway, etc.
Subject’s sales regions include Asia and etc.
Subject’s major customers are construction industry, transportation
industry and etc.
It is introduced that subject is selling many brands such as “Mario
Cotta’, “Svecom” and etc.
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 |
Machinery and related materials, etc |
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Payment Terms |
Cash, T/T and etc |
Import
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Products |
Machinery and related materials, etc |
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Payment Terms |
L/C, T/T and etc |
Sales
Domestic Markets
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Product |
Machinery and related materials, etc |
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Selling Terms |
Cash, T/T and etc |
Export
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Product |
Machinery and related materials, 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. Liao 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
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Name |
Mr. Liao |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.55 |
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1 |
Rs.100.64 |
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Euro |
1 |
Rs.70.70 |
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TWD |
1 |
Rs.2.04 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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.