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Report No. : |
352279 |
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Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
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Name : |
TEKTRO TECHNOLOGY CORPORATION |
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Registered Office : |
No.138, Minjhu St., Heming Village, Sioushuei
Township, Changhua County 50442, (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
17.06.1986 |
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Com. Reg. No.: |
22207032 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of bicycle components |
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No. of Employees : |
About 500 Employees |
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 : |
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 |
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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. 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.138, Minjhu
St., Heming Village, Sioushuei Township, Changhua County 50442, Taiwan |
|
Supplied Address: |
NO.138,MINJHU
ST.,HEMING VILLAGE, SIOUSHUEI HSIANG, CHANGHUA COUNTY, TAIWAN |
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Telephone Number: |
+886-4-768-3999 |
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Fax Number: |
+886-4-769-9633 |
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E-mail: |
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Tektro Technology Corporation |
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Registered Address: |
No.138, Minjhu St., Heming Village,
Sioushuei Township, Changhua County 50442, Taiwan (R.O.C.) |
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Date of Foundation: |
1986-6-17 |
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Registration Number: |
22207032 |
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Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
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Registered Capital: |
NTD 736,000,000 (USD
22,816,000) (As of 2014.11, 1 NTD = 0.0310 USD) |
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Paid-up Capital: |
NTD 736,000,000 (USD 22,816,000) |
|
Legal Representatives: |
Zemin Chen |
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Legal Form: |
Joint Stock Company |
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Principal Activities: |
Manufacturing and sale of bicycle components |
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Staff: |
About 500 Employees |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
2015-7-22 |
Subject was incorporated on
1986-6-17 with registered number 22207032 as Joint Stock Company in Taiwan.
Factories
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1 |
|
|
Address: |
No.138-1, Minjhu St., Heming Village,
Sioushuei Township, Changhua County 50442, Taiwan (R.O.C.) |
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Date of Registration: |
2008-10-30 |
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Factory Registration Number: |
99680806 |
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Factory Manager: |
Zemin Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2012-3-30 |
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Major Products: |
254 metal processing 312 motor and spare parts 313 bicycle and spare parts |
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2 |
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Name: |
The 2nd Factory |
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Address: |
No.138, Minjhu St., Heming Village,
Sioushuei Township, Changhua County 50442, Taiwan (R.O.C.) |
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Date of Registration: |
2012-1-11 |
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Factory Registration Number: |
07000408 |
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Factory Manager: |
Zemin Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2012-1-11 |
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Major Products: |
254 metal processing |
Related Companies
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1 |
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Name |
Tektro USA |
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Address: |
688 West Amidan Dr Bldg 4x Bay 1 Ogden, UT
84404 |
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Tel: |
+1-877-807-4162 |
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Email: |
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2 |
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Name: |
Terex Metal (S.Z.) Co., Ltd. |
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Address: |
Bldg 7, Yuanshan Industrial Village,
Shangcun Community, Gongming Office, Guangming District, Shenzhen City, Guangdong
Province, China |
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Tel: |
+86-755-27104885 |
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Fax: |
+86-755-27107972 |
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Date of Foundation: |
2000-3-16 |
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Legal Representatives: |
Cifang Cai |
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Legal Form: |
Exclusively Foreign-Owned Enterprise |
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Principal Activities: |
Manufacturing and sale of bicycle
components, etc. |
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Staff: |
About 400 Employees |
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3 |
|
|
Name |
Tektro (W.X.) Technology Co., Ltd. |
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Address: |
Foreign Merchant Industrial Park, Xishan
Economic Development Zone, Wuxi City, Jiangsu Province, China |
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Tel: |
+86-510-8826-6866 |
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Fax: |
+86-510-8826-2588 |
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Date of Foundation: |
2001-3-9 |
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Legal Representatives: |
Yonghuang Chen |
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Principal Activities: |
Manufacturing and sale of bicycle
components, etc. |
Major Shareholders
|
Name |
Subscription Shares |
|
Zemin Chen |
4,915,929 |
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Cifang Cai |
4,915,929 |
|
Yonghuang Chen |
4,915,929 |
|
Wenliang Zeng |
2,661,937 |
Core Management
Directors
|
1 |
|
|
Name |
Zemin Chen |
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Position |
Board Chairman |
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2 |
|
|
Name |
Cifang Cai |
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Position |
Director |
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3 |
|
|
Name |
Yonghuang Chen |
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Position |
Director |
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4 |
|
|
Name |
Wenliang Zeng |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 500 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.138, Minjhu
St., Heming Village, Sioushuei Township, Changhua County 50442, Taiwan
(R.O.C.) |
Production Information
Subject is engaged in manufacturing of bicycle components, etc.
Subject has two factories in Taiwan for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CD01030 |
Manufacturing of automobile and spare parts |
|
CD01040 |
Manufacturing of motor and spare parts |
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CD01050 |
Manufacturing of bicycle and spare parts |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The components and raw materials for production are mostly purchased in
the domestic market.
Subject is engaged in sale of bicycle
components, etc.
Subject’s major products are brake, lever, brake pads and other
accessories of the bike, etc.
The products of the subject are applied for bikes of MTB, Road,
Recreation, BMX, E-bike, etc.
It is introduced that subject has its own brand “TEKTRO”.
The major sales regions include domestic market, Germany and USA, etc.
It is introduced that subject also provide the technology consulting
service.
It is introduced that one of subject’s major customers is Cycling Sports
Group Inc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Components and raw materials |
|
Payment Terms |
T/T, Cash, etc. |
Import
Subject has little import.
Domestic Markets
|
Product |
Bicycle components, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Bicycle components, 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
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 |
Ms. Wong |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.68 |
|
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
: |
KIN |
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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.