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Report No. : |
351518 |
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Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
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Name : |
ING YU PRECISION INDUSTRIES CO., LTD. |
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Registered Office : |
No. 43-11, Sha-Tien Rd, Sha-Lu Dist.,
Taichung City |
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Country : |
Taiwan |
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Date of Incorporation : |
26.09.1979 |
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Com. Reg. No.: |
56642765 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sale of High Speed
Precision Press. |
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No. of Employees : |
About 80 Employees |
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: |
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Supplied Address: |
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Telephone Number: |
+886-4-2635-8569 |
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Fax Number: |
Subject was incorporated
on 1979-9-26 with registered number 56642765 as Joint Stock Company in Taiwan.
Factory
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Address: |
No. 1-13, Tianxiang New Village, Sha-Tien
Rd, Sha-Lu Dist., Taichung City, Taiwan |
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Date of Foundation: |
1980-1-12 |
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Date of Registration: |
1980-5-22 |
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Factory Registration Number: |
99638989 |
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Factory Manager: |
Ronggui Tong |
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Status: |
In Production |
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Date of Last Annual Return: |
2002-11-21 |
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Major Products: |
253 metal container 291 machinery for processing metals 259 other metal products |
Major Shareholders
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Name |
Subscription Shares |
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Ronggui Tong |
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15,674 |
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Yumei Liu |
14,961 |
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Jinhang Tong |
7,473 |
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Kunhong Tong |
7,473 |
Core Management
Directors
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1 |
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Name |
Ronggui Tong |
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Position |
Chairman of the Board |
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2 |
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Name |
Yumei Liu |
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Position |
Director |
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3 |
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Name |
Jinhang Tong |
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Position |
Director |
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4 |
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Name |
Kunhong Tong |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 80 Employees |
Offices & Factories
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Headquarters |
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Add |
Production Information
Subject is engaged in manufacturing of high speed precision press, etc.
Subject has a factory in Taiwan for production.
Subject obtained the certification of ISO9001.
Purchase Information
The registered activities of subject:
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No. |
Details |
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1 |
Manufacturing, processing and sales of sewing machine parts |
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2 |
Manufacturing, processing and sales of punch press, drilling machine
and lathe |
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3 |
Manufacturing and sales of boiler and furnace, etc. |
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4 |
Manufacturing and sales of equipment of energy recovery and pollution
treatment, and related engineering installation. |
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5 |
Manufacturing and sales of Pressure vessel, reservoir and heat
exchanger, etc. |
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6 |
Installation and soldering of the above machinery, and related welding
equipment of pressure line. |
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7 |
Tank cleaning of boiler |
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8 |
Manufacturing, processing and sales of clamp, fixture and mold. |
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9 |
The import and export business of the above products. |
The components and raw materials for production are purchased both at
home and abroad.
It is introduced that subject’s some production equipment are purchased
from Japan.
Subject is engaged in sale of high speed precision press, etc.
The major products include high precision forming press, single-plunger
high speed precision press, HD series,
apex series, saga series and civic series of high speed precision press,
etc.
Subject’s sales regions are domestic market, Japan, USA, Germany, etc.
It is introduced that subject has a branch in Shanghai, the Mainland of
China for sale service.
The general delivery lead time of subject is about 180 days.
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 and raw materials |
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Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Components and raw materials |
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Payment Terms |
L/C, T/T, etc. |
Domestic Markets
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Product |
High speed precision press, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
High speed precision press, etc. |
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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
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Case Type: |
Chattel Mortgage |
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Registered Number: |
099695 |
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Debtor Name: |
Ing Yu Precision Industries Co., Ltd. |
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Registry: |
Economic Development Bureau of Taichung City
Government |
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Bank Name: |
Taiwan Business Bank Co., Ltd. Shalu Branch |
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Date of Registration: |
2010-3-30 |
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Amount of Secure Claims: |
NTD 23,000,000 |
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Type of Subject Matter: |
Automobile, heavy-duty machine, bicycle and
trailer |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
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Name |
Ms. Tong |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
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|
1 |
Rs.100.68 |
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Euro |
1 |
Rs.70.88 |
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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
: |
DIV |
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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.