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Report No. : |
342812 |
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Report Date : |
08.10.2015 |
IDENTIFICATION DETAILS
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Name : |
CHUAN TYE MACHINERY INDUSTRIAL CO., LTD. |
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|
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Registered Office : |
1FL, No. 57, Wu Chuan 3rd Road, Wu Ku Industrial Park, Wu Ku District, New Taipei City |
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Country : |
Taiwan |
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Date of Incorporation : |
09.03.1984 |
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Com. Reg. No.: |
36216898 |
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business : |
Manufacturing and trading of food processing
machinery. |
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|
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No. of Employees : |
About 15 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
USD 80,000 |
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|
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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
|
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 |
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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: |
1FL, No. 57, Wu
Chuan 3rd Road, Wu Ku Industrial Park, Wu Ku District, New Taipei
City, Taiwan |
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Supplied Address: |
NO. 57, WU CHUAN
3 ROAD NEW TAIPEI INDUSTRIAL PARK NEW TAIPEI CITY, TAIWAN |
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Telephone Number: |
+886-
2-2299-5137 |
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Fax Number: |
+886-
2-2299-5136 |
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E-mail: |
Notes: The exact name and
address are as above.
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Credit Rating: |
|
Registered Name: |
Chuan Tye Machinery Industrial Co., Ltd. |
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Registered Address: |
1FL, No. 57, Wu Chuan 3rd Road, Wu Ku Industrial
Park, Wu Ku District, New Taipei City, Taiwan |
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Date of Foundation: |
1984-3-9 |
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Registration Number: |
36216898 |
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Registry: |
New Taipei City Government |
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Registered Capital: |
(As of 2015.09, 1 NTD = 0.031 USD) |
|
Legal Representatives: |
Jinquan Shen |
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Legal Form: |
|
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Principal Activities: |
|
|
Staff: |
|
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Listed
at Stock Exchange: |
|
|
Date
of Last Annual Return: |
Subject was
incorporated on 1984-3-9 with registered number 36216898
as Private
Limited Liability Company in Taiwan.
Factory
|
Address: |
No.8-1,
Lane 63, Hua Chen Rd., Xinzhuang Dist., New Taipei City 242, Taiwan (R.O.C.) |
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Date
of Foundation: |
1983-6-14 |
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Date
of Registration: |
1984-5-17 |
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Factory
Registration Number: |
99601969 |
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Factory Manager: |
Jinquan
Shen |
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Status: |
In
Production |
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Date of Last Annual Return: |
2001-11-28 |
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Major Products: |
293
general machinery and equipment |
Major
Shareholders
|
Name |
Subscription Amount |
|
Jinquan Shen |
5,200,000 |
Core Management
Directors
|
Name |
Jinquan Shen |
|
Position |
Director
|
Personnel Structure
|
Total
Employees |
About 15 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
1FL, No. 57, Wu Chuan 3rd Road, Wu Ku Industrial Park, Wu Ku
District, New Taipei City, Taiwan |
Production
Information
·
Subject
is engaged in manufacturing of food
processing machinery.
·
Subject
has a factory in Taiwan for production.
Purchase Information
·
The
registered activities of subject:
|
|
Details |
|
1 |
Manufacturing,
processing and trading of food machinery and packaging machinery. |
|
2 |
Importing
and exporting business and external guarantee of above related products. |
|
3 |
Agent
of marking prices, bidding and trading of domestic and overseas manufacturers’
related products. |
|
4 |
Operation
and investment of above related business. |
·
Subject
purchases its components both at home and abroad.
·
Subject
is engaged in sale of food processing
machinery.
·
The
major products include High Speed Pillow Pack wrapping machine for hard and
soft candy, Five Colors Co-Extruder, Continuous Vacuum Micro-Film Cooker,
Continuous Spiral Corss Cooker.
·
Subject’s
sales regions include China, Vietnam, Philippines, Malaysia, South Korea,
Indonesia, Egypt, Turkey, Australia, Colombia, Mexico, Poland, UK, USA.
·
Subject’s
major customers are sugar industry.
·
It
is introduced that subject can provide customization services.
·
It
is introduced that subject’s products are applied to processing of sugar such
as lollipop, soft sweets, hard candy, chewing gum.
Import and export
right:
|
Import
right |
Yes |
|
Export
right |
Yes |
Purchase
Domestic
Purchase
|
Products |
Components |
|
Payment Terms |
Cash, T/T |
Import
|
Products |
Components |
|
Payment Terms |
L/C, T/T |
Sales
Domestic
Markets
|
Product |
Food processing machinery. |
|
Selling Terms |
Cash, T/T |
Export
|
Product |
Food processing machinery. |
|
Selling Terms |
L/C, T/T |
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 Ms. Shen 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
|
Name |
Ms. Shen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.26 |
|
UK Pound |
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
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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 |
|
|
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 |
-- |
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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.