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Report No. : |
343658 |
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Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
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Name : |
AXISCO PRECISION MACHINERY CO., LTD. |
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Registered Office : |
No.9, Lane 15, Holi St., Taiping Dist., Taichung
City 411, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
04.08.1984 |
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Com. Reg. No.: |
52817829 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sales of Machines and
Parts. |
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No. of Employees : |
About 40 |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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: |
No.9, Lane 15, Holi St., Taiping Dist.,
Taichung City 411, Taiwan (R.O.C.) |
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Supplied Address: |
NO.9, LANE 15,
HELI ST., TAIPING DISTRICT, TAICHUNG CITY (41144), TAIWAN |
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Telephone Number: |
+886-4-2270-3188 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact name and address are as above.
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Registered Name: |
Axisco Precision Machinery Co., Ltd. |
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Registered Address: |
No.9, Lane 15, Holi St., Taiping Dist.,
Taichung City 411, Taiwan (R.O.C.) |
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Date of Foundation: |
1984-08-04 |
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Registration Number: |
52817829 |
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Registry: |
Taichung City Government |
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Registered Capital: |
(As of 2015.10, 1 NTD = 0.031 USD) |
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Paid-up Capital: |
NTD 23,000,000 (USD 713,000) |
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Legal Representatives: |
Mingjie Huang |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated
on 1984-08-04 with registered number 52817829
as Joint Stock Company in Taiwan.
Change of Name
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Former Chinese Name: |
成祐機械有限公司 |
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Current Chinese Name: |
成祐精機股份有限公司 |
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Former English Name: |
Chan Yow Machinery Co., Ltd. |
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Current English Name: |
Axisco Precision Machinery Co., Ltd. |
Factory
|
Address: |
No.9, Lane 15, Holi St., Taiping Dist.,
Taichung City 411, Taiwan (R.O.C.) |
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Date of Foundation: |
1989-03-30 |
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Date of Registration: |
1990-03-01 |
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Factory Registration Number: |
99634015 |
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Factory Manager: |
Mingjie Huang |
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Status: |
In Production |
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Date of Last Annual Return: |
2015-04-07 |
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Major Products: |
291 metal processing machinery 292 other special-purpose mechanical device 293 general machinery 312 motor and parts 313 bicycle and parts |
Major Shareholders
|
Name |
Subscription Shares |
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Mingjie Huang |
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1,960,000 |
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Licai Huang |
130,000 |
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Yuxian Huang |
105,000 |
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Lihong Huang |
105,000 |
Core Management
Directors
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1 |
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Name |
Mingjie Huang |
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Position |
Chairman of the Board |
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2 |
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Name |
Licai Huang |
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Position |
Director |
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3 |
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Name |
Yuxian Huang |
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Position |
Director |
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4 |
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Name |
Lihong Huang |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 40 Employees |
Offices & Factories
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Headquarters |
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Add |
No.9, Lane 15, Holi St., Taiping Dist., Taichung City 411, Taiwan
(R.O.C.) |
Production Information
Subject is engaged in manufacturing of machines and related parts.
Subject has a factory in Taichung
City, Taiwan for production.
Subject obtained the certification of ISO 9001:2008 and CE.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
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CB01010 |
Manufacturing of machinery |
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CA02990 |
Manufacturing of other metal products |
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CD01050 |
Manufacturing of bicycle and parts |
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CD01040 |
Manufacturing of motor and parts |
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CD01030 |
Manufacturing of automobile and parts |
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CP01010 |
Manufacturing of hand tools |
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CA02050 |
Manufacturing of valves |
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CC01080 |
Manufacturing of electronic components |
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F401010 |
International trade business |
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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
domestic market.
Subject is engaged in sales of machines and
related parts.
Subject’s major products include grinding machine, special purpose
machine, broaching machine, deep hole drilling machine and related parts.
The products are applied to the industries of car, motorcycle, bicycle,
hand tool and hardware and rubber.
It is introduced that subject can provide the service of OEM.
Subject’s sales regions include domestic market, Southeast Asia, North
America and Europe.
Subject’s major customers are Innoveyor Inc., ZDF Imp. & Exp., Llc.
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 |
Cash, T/T |
Import
Subject has little import.
Sales
Domestic Markets
|
Product |
Machines and parts |
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Selling Terms |
Cash, T/T |
Export
|
Product |
Machines and parts |
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Selling Terms |
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 |
Mr. Lin |
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Department |
Sales Department |
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E-mail: |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.02 |
|
|
1 |
Rs.99.89 |
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Euro |
1 |
Rs.73.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.