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Report No. : |
345558 |
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Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
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Name : |
WELLMADE ENTERPRISE CO., LTD. |
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Registered Office : |
4FL., No.50-18, Lung Hsiang St., Taoyuan Dist., Taoyuan City 33057 |
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Country : |
Taiwan |
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Date of Incorporation : |
17.03.1993 |
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Com. Reg. No.: |
84211325 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of machine for textile. |
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No of Employees : |
Not Available |
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 |
|
Risk Category |
ECGC
Classification |
|
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: |
16F, No.51, Longquan 2nd St., Taoyuan City,
Taoyuan, Taiwan 330 |
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Supplied Address: |
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Telephone Number: |
+886-3-379-8292 |
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Fax Number: |
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Notes: The exact name and
address are as above.
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Credit Opinion: |
Business connections are permissible. |
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Registered Name: |
WELLMADE ENTERPRISE CO., LTD. |
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Registered Address: |
4FL., No.50-18, Lung Hsiang St., Taoyuan Dist.,
Taoyuan City 33057, Taiwan |
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Date of Foundation: |
1993-3-17 |
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Registration Number: |
84211325 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
(As of 2015.04, 1 NTD = 0.032 USD) |
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Paid-up Capital: |
NTD 13,320,000 (USD 426,240) |
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Legal Representatives: |
Weizhen Liu |
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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: |
Notes: Subject declined
to disclose its staff number; from other source we cannot obtain the relevant
information, either.
Subject was incorporated on 1993-3-17 with registered number 84211325 as
Joint Stock Company in Taiwan.
Changing of
Address
|
Current Address |
16F, No.51, Longquan 2nd St., Taoyuan City,
Taoyuan, Taiwan 330 |
|
Former Address |
No. 23, Lane 207, Huakang St, Bade City,
Taoyuan, Taiwan 334, R.O.C. |
Factory
|
Address: |
Aotu Building, Wanan Developing Zone, Luojiang District, Quanzhou
City, Fujian Province, China |
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Tel |
+86-595-22632339 |
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Fax |
+86-595-22632896 |
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E-mail |
Major Shareholders
|
Name |
Subscription
Shares |
|
Weizhen Liu |
721,500 |
|
Qiugui Liu |
92,500 |
|
Fuzhi Lin |
37,000 |
|
Laicheng Wang |
370,000 |
Core Management
Directors
|
1 |
|
|
Name |
Weizhen Liu |
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Position |
Board Chairman |
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2 |
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|
Name |
Qiugui Liu |
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Position |
Director |
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3 |
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Name |
Fuzhi Lin |
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Position |
Director |
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4 |
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|
Name |
Laicheng Wang |
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Position |
Supervisor |
Offices & Factories
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|
Headquarters |
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Add |
16F, No.51, Longquan 2nd St., Taoyuan City, Taoyuan, Taiwan 330 |
Production
Information
l
Subject is engaged in manufacturing of machine for textile and etc.
l
Subject has a factory in Quanzhou City, Fujian
Province, the mainland of China for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing, processing and sales of machinery and its components. |
|
-- |
Manufacturing, processing and sales of precise gear. |
|
-- |
Importing and exporting of above related products. |
|
-- |
Agent of marking price, bidding and sales for above related
productions of domestic and overseas manufacturers. |
l
Subject purchases its components and etc both at
home and abroad.
l Subject is engaged
in sale of machine for textile and etc.
l
The major products include Single machine, Double
machine, Computerized/jacquard machine, Electronic jacquard seamless underwear
knitting machine, Hosiery machine, Flat knitting machine and so on.
l
Subject’s sales regions include Asia, Europe,
America, Africa, Australia and etc.
l
Subject’s major customers are manufacturers of
textiles, distributors and agents of machine
for textile and etc.
l
It is introduced that subject can provide OEM and
ODM services.
l
It is introduced that subject has an agent in
India.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Components and etc. |
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Payment Terms |
Cash, T/T and etc |
2.
Import
|
Products |
Components and etc. |
|
Payment Terms |
L/C, T/T and etc |
Sales
1.
Domestic Markets
|
Product |
Machine for textile and etc. |
|
Selling Terms |
Cash, T/T and etc |
2.
Export
|
Product |
Machine for textile and etc. |
|
Selling Terms |
L/C, T/T and 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
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
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 64.82 |
|
|
1 |
Rs. 100.41 |
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Euro |
1 |
Rs. 74.50 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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Report Prepared
by : |
ASH |
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 |
|
<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.