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Report No. : |
340478 |
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Report Date : |
14.09.2015 |
IDENTIFICATION DETAILS
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Name : |
TECORP ELECTRONICS CO., LTD. |
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Registered Office : |
3F-3, No.12, Lane 609, Sec.5, Chung Hsin
Rd., Sanchong Dist., New Taipei City 241, (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
19.03.1993 |
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Com. Reg. No.: |
84214195 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Trading of Automated
Control Equipment. |
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No. of Employees : |
About 20 employees (Taiwan) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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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.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
3F-3, No.12,
Lane 609, Sec.5, Chung Hsin Rd., Sanchong Dist., New Taipei City 241, Taiwan
(R.O.C.) |
|
Supplied Address: |
3F-3 NO 12 LANE 609 SEC5 CHUNG HSIN RD SAN
CHUNG DIST NEW TAIPEI CITY |
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Telephone Number: |
+886-2-2999-1466 |
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Fax Number: |
|
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E-mail: |
Note: The exact name and address are as above.
Subject was incorporated
on 1993-3-19 with registered number 84214195
as Joint Stock Company in Taiwan.
Change of Name
|
Former Chinese Name: |
泓筌電機股份有限公司 |
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Current Chinese Name: |
泓筌科技股份有限公司 |
Factory
|
Address: |
3F-3, No.12, Lane 609, Sec.5, Chung Hsin
Rd., Sanchong Dist., New Taipei City 241, Taiwan (R.O.C.) |
|
Date of Foundation: |
2000-6-12 |
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Date of Registration: |
2000-7-10 |
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Factory Registration Number: |
99618891 |
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Factory Manager: |
Mingjie Guo |
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Status: |
In production |
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Date of Last Annual Return: |
2003-1-16 |
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Major Products: |
271 Computer and its peripheral equipment 272 Communications equipment |
Major Related
Company
|
Name |
Zhejiang Hongsheng Electronic Technology Co. Ltd. (literal
translation) |
|
Registered Address |
Ground F., No. 1, Haiyan High-tech Park E. Zone, Changan Rd. E.,
Yanpei Rd. S., Development Area, Wuyuan Town, Haiyan County, Zhejiang
Province, China |
|
Registration Number |
330400400004635 |
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Registered Capital: |
USD 2,300,000 |
|
Date of Foundation |
2007-1-30 |
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Status |
Live |
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Legal Representatives: |
Mingjie Guo |
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Legal Form: |
|
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Date of Last Annual Return |
2014-9-12 |
Major Shareholders
|
Name |
Subscription Shares |
|
Mingjie Guo |
7,188,200 |
|
Yulin Xie |
|
|
1,872,000 |
|
|
Jianglin Wang |
2,636,800 |
|
Daoyang Cheng |
234,000 |
Core Management
Directors
|
1 |
||
|
Name |
Mingjie Guo |
|
|
Position |
Board Chairman |
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2 |
||
|
Name |
Yulin Xie |
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Position |
Director |
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3 |
||
|
Name |
Jianglin Wang |
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Position |
Director |
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|
4 |
||
|
Name |
Daoyang Cheng |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 20 employees (Taiwan) |
Offices & Factories
|
|
Headquarters |
|
Add |
3F-3, No.12, Lane 609, Sec.5, Chung Hsin Rd., Sanchong Dist., New
Taipei City 241, Taiwan (R.O.C.) |
Production Information
Subject is a manufacturer of automated control equipment,
etc.
It is introduced that subject has a factory in Taiwan and a
factory in Zhejiang Province, Mainland China for production, but detail of
mainland factory cannot be available from the subject, local registry or any
other resources.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CC01080 |
Manufacturing
of electronic components |
|
CC01110 |
Manufacturing of computer and its peripheral equipment |
|
CE01010 |
Manufacturing of general instrument |
|
E603050 |
Automatic control equipment engineering industry |
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E605010 |
Computer equipment installation industry |
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F113030 |
Wholesale of
precision instruments |
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F113050 |
Wholesale of computer and transactional equipment |
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F113070 |
Wholesale of telecommunications equipment |
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F118010 |
Wholesale of
IT software |
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F119010 |
Wholesale of
electronic materials |
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F213030 |
Retail of computer equipment and transactional |
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F213040 |
Retail of precision instruments |
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F213060 |
Retail of
electronic equipment |
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F218010 |
Retail of IT software |
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F219010 |
Retail of electronic materials |
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I301010 |
IT software
services |
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I301020 |
Data processing services |
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I301030 |
Electronic information supplying services |
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IG03010 |
Energy services industry |
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F401010 |
International trade |
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ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
The components and raw material for production are purchased
from both home and abroad.
It is introduced that subject also purchases some finished
products to sell from home and abroad; and major suppliers are Taian, Yaskawa,
Teco, Mitsubishi and Tatung, etc.
Subject is engaged in sale of
automated control equipment, etc.
The major products sold by the subject are AC Motor Drive, inverter, servers and
frequency converter and so on.
Subject can provide
maintenance and repair services for its customers.
It is introduced that subject’s products are mainly applied
in heating, lighting and air conditioning system; intelligent monitoring and
controlling system; frequency conversion, etc.
It is introduced that subject has its own brand ”TECORP”
Subject’s sales regions include Taiwan domestic market,
Mainland China, Southeast Asia, India, Europe and America, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Major Products
|
Types |
Products |
|
AC Motor Drive |
HC2E1000 (Economy type) HC2A1000 (V/F control) HC2B1000 (Vector control) HC1C+ (Mini type) HC2V8&V9 (High accuracy) HC2VG5 (Heavy loading) |
|
Other Automation Products |
Servo System-EPS HMI-SP |
Purchase
Domestic Purchase
|
Products |
Raw material, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw material, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Sales
Domestic Markets
|
Product |
Automated control equipment, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Automated control equipment, 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.
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. Cheng |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
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Report Prepared
by : |
NIT |
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.