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Report No. : |
344288 |
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Report Date : |
13.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
JOEMARS MACHINERY & ELECTRIC INDUSTRIAL
CO., LTD. |
|
|
|
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Registered Office : |
No.66, Ln. 124, Sec. 1, Youyuan Rd., Dadu
Dist., Taichung City 432 |
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|
|
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Country : |
Taiwan |
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|
|
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Date of Incorporation : |
25.07.1989 |
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|
|
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Com. Reg. No.: |
23397051 |
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|
|
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Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Manufacturing and sales of electric
discharge machine |
|
|
|
|
No. of Employee : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
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Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.66, Ln. 124, Sec. 1, Youyuan Rd., Dadu
Dist., Taichung City 432, Taiwan (R.O.C.) |
|
Supplied Address: |
No 66, Lane 124, SEc .1, Youyuan Rd, Tatu
Hsiang, Taichung Hsien, Taiwan, ROC 432 |
|
Telephone Number: |
+886-4-2691-7566 |
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Fax Number: |
|
|
E-mail: |
|
Registered Name: |
JOEMARS
MACHINERY & ELECTRIC INDUSTRIAL CO., LTD. |
|
Registered Address: |
No.66, Ln. 124, Sec. 1, Youyuan Rd., Dadu Dist., Taichung City 432,
Taiwan (R.O.C.) |
|
Date of Foundation: |
1989-07-25 |
|
Registration Number: |
23397051 |
|
Registry: |
Taichung City Government |
|
Registered Capital: |
(As of 2015.10, 1 NTD = 0.031 USD) |
|
Paid-up Capital: |
NTD 17,200,000 (USD 533,200) |
|
Legal Representatives: |
Shunyuan Chen |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on 1989-07-25 with registered
number 23397051 as Joint Stock
Company in Taiwan.
Factory
|
Address: |
No.66, Ln. 124, Sec. 1, Youyuan Rd., Dadu Dist., Taichung City 432,
Taiwan (R.O.C.) |
|
Tel: |
+886-4-2691-7566 |
|
Fax: |
+886-4-2691-7555 |
|
Major Products: |
Electric
discharge machine, etc. |
Office
|
Name: |
Yuyao Office |
|
Address: |
No. 900, Jin Mao
Road, Zhou Shi Town, Kunshan City, Jiangsu Province, China |
|
Tel: |
+86-574-6263-4358 |
Subsidiaries
|
1 |
|
|
Name: |
Kunshan Joemars Precision Machinery Co., Ltd. |
|
Address: |
No. 900, Jin Mao Road, Zhou Shi Town, Kunshan City, Jiangsu Province,
China |
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Tel: |
+86-512 -5766-7551 |
|
Fax: |
+86-512-5766-7581 |
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Date of Foundation: |
2001-02-13 |
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Registration Number: |
320583400029844 |
|
Registry: |
Industry and Commerce Administration of Kunshan City, Jiangsu Province |
|
Registered Capital: |
CNY 2,100,000 |
|
Legal Representatives: |
Lizhu Lin |
|
Legal Form: |
Limited Liability Company |
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Date of Last Annual Return: |
2013-11-26 |
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Term of Operation: |
From 2001-02-13 to 2051-02-12 |
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2 |
|
|
Name: |
Changzhou Joemars Industrial Automation Co., Ltd. |
|
Address: |
No. 678, Xinchang Road, Xinzha Township, Changzhou City, Jiangsu
Province, China |
|
Tel: |
+86-519-8326-2666 |
|
Fax: |
+86-519-8326-0831 |
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Date of Foundation: |
1997-08-19 |
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Registration Number: |
320400400003944 |
|
Registry: |
Industry and Commerce Administration of Changzhou City, Jiangsu
Province |
|
Registered Capital: |
CNY 150,000 |
|
Legal Representatives: |
Lizhu Lin |
|
Legal Form: |
Limited Liability Company |
|
Date of Last Annual Return: |
2013-05-07 |
|
Term of Operation: |
From 1997-08-19 to 2017-08-18 |
Major Shareholders
|
Name |
Subscription Shares |
|
Shunyuan Chen |
|
|
2,660 |
|
|
Wansheng Lin |
700 |
|
Rizhong Liao |
440 |
|
Hongjun Ke |
1,680 |
Core Management
Directors
|
1 |
||
|
Name |
Shunyuan Chen |
|
|
Position |
Chairman of the
Board |
|
|
2 |
||
|
Name |
Wansheng Lin |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Rizhong Liao |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Hongjun Ke |
|
|
Position |
Supervisor |
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Personnel Structure
|
Total Employees |
About 50 Employees (Taiwan) |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.66, Ln. 124, Sec. 1, Youyuan Rd., Dadu Dist., Taichung City 432,
Taiwan(R.O.C.) |
Production Information
l
Subject is engaged in manufacturing of electric
discharge machine, etc.
l
Subject has factories in Taiwan for production.
l
Subject obtained the certification of ISO 9001.
Purchase Information
l
The registered activities of subject:
|
No. |
Details |
|
1 |
Manufacturing, processing and sale of all kinds of electrical
machinery, numerical control machinery and electro discharge machining
molding machine |
|
2 |
Manufacturing, installation and sale of mechanical and electrical automatic
control equipment |
|
3 |
Sale of the above related raw materials |
|
4 |
Import and export business |
l
The components and raw material for production are
purchased from both home and abroad.
l Subject is engaged
in sales of electric discharge machine, etc.
l
The major products electric discharge machine (ZNC
series and CNC series), wire cut EDM (WT series and AWT series), super drill
EDM (D, DZ, DNC series) and broken tap remover (TR 100), etc.
l
Subject’s sales regions include domestic market,
Southeast Asia, North America and Europe, etc.
l
One of subject’s major customers is Herramientas
Tecnicas S.A.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials and components |
|
Payment Terms |
T/T, Cash |
2.
Import
|
Products |
Raw materials and components |
|
Payment Terms |
L/C, T/T |
1.
Domestic Markets
|
Product |
Electric discharge machine |
|
Selling Terms |
T/T, Cash |
2.
Export
|
Product |
Electric discharge machine |
|
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 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. Chen |
|
Department |
Sales Department |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.73 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.73.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
|
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 |
-- |
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.