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Report No. : |
341472 |
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Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
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Name : |
CHAO LONG MOTOR PARTS CORP. |
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Registered Office : |
No.10, Lane 151, Kwangmin Road, Sec.2, Luchu
Village Taoyuan County R.O.C. |
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Country : |
Taiwan |
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Date of Incorporation : |
14.01.1986 |
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Com. Reg. No.: |
22000216 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sale of Vehicles and
Motorcycle Parts. |
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No. of Employees : |
About 320 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 |
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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.10, Lane 151, Kwangmin Road, Sec.2, Luchu
Village Taoyuan County Taiwan R.O.C. |
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Supplied Address: |
NO. 10 LANE 151 KAWANG MIN RD SEC 2 LUCHU
DISTRICT TAOYUAN CITY 338 |
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Telephone Number: |
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Fax Number: |
Subject was incorporated
on
Factory
|
Name: |
Nankan Plant |
|
Address: |
No.10, Lane 151, Kwangmin Road, Sec 2, Luchu
Village, Taoyuan Hsien 338, Taiwan |
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Date of Foundation: |
1984-4-23 |
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Date of Registration: |
1985-3-4 |
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Factory Registration Number: |
99624284 |
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Factory Manager: |
Jingxiang Li |
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Status: |
In production |
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Date of Last Annual Return: |
2014-12-23 |
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Major Products: |
303 car parts 312 The locomotive and its parts |
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Land Area |
9,214 Square Meters |
|
PLANT AREA |
10,718 Square Meters |
Major Shareholders
|
Name |
Subscription Shares |
|
Jingxiang Li |
1,555,912 |
|
AMG THCHNOLOGY CO.,LTD |
|
|
6,390,960 |
|
|
Qimou Liu |
289,000 |
|
Yongqing Zhang |
928,648 |
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Jianren Xiao |
300,641 |
|
Yuzhen Jiang |
173,704 |
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Wenliang Wang |
133,618 |
Core Management
Directors
|
1 |
||
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Name |
Jingxiang Li |
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Position |
Board Chairman |
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2 |
||
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Name |
Yongxiang Wang |
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Position |
Vice Board Chairman |
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3 |
||
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Name |
Qimou Liu |
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Position |
Director |
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4 |
||
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Name |
Yongqing Zhang |
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Position |
Director |
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5 |
||
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Name |
Jianren Xiao |
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Position |
Director |
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6 |
||
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Name |
Ruide Song |
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Position |
Director |
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7 |
||
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Name |
Weiguo Qiu |
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Position |
Director |
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8 |
||
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Name |
Yuzhen Jiang |
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Position |
Supervisor |
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9 |
||
|
Name |
Wenliang Wang |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 320 employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.10, Lane 151, Kwangmin Road, Sec.2, Luchu Village Taoyuan County
Taiwan R.O.C. |
Production Information
Subject is engaged in R&D and manufacturing of vehicles and motorcycle parts, etc.
Subject obtained the certifications of ISO 9002, QS 9000, ISO 14001,
ISO/TS 16949 and OHSAS 18001, etc.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacture, processing and sales of Car, motorcycle and bicycle parts |
|
2 |
Manufacture, processing and sales of lathe, roller machine, drill,
etc. industrial machine and related tools |
|
3 |
Manufacture, processing and sales of all kinds of
fitness equipment and other leisure sports equipment and its parts |
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4 |
Manufacture, processing and sales of electronic igniter and computer
peripheral equipment and other electronic equipment and its parts |
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5 |
Manufacture, processing and sales of auto & motor simple type
speedometer and tachometer |
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6 |
Design, manufacture and sales of electronic cash registers the
computer cash register and peripheral devices |
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7 |
Design, manufacture and sales of computer and electronic equipment and
its components |
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8 |
Computer system software design and computer wiring system planning
and design |
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9 |
As an agent assists in developing quoting, bidding
and distributing about home and abroad companies' products. |
|
CB01020 |
Manufacture of Routine machinery |
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F113050 |
Wholesales of Routine machinery and equipment |
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F213030 |
Retails of Routine machinery and equipment |
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CC01080 |
Manufacture of electronic components |
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F119010 |
Wholesales of electronic materials |
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F219010 |
Retails of electronic materials |
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I301030 |
Electronic information supplying services |
The components and raw material for production are purchased from both
home and abroad.
It is introduced that Subject cooperates with Yazaki, Japan, Visteon UK
and Denso Japan for technology support
Subject is engaged in sale of vehicles and motorcycle parts, etc.
Subject’s major products are car meters, motorcycle meters, fuel sender,
locomotive sender and other electrical products, etc.
Subject’s products are applied to passenger car, recreation vehicles,
commercial cars, Military trucks and motorcycles, etc.
It is introduced that subject can provide OEM and ODM services.
Subject’s sales regions include Asia, Europe and America, etc.
It is introduced that subject has made 60% on
motorcycle stopwatches and
40% on car's market share in Taiwan.
Major Customers
|
Taiwan |
|
|
4W Company |
2W Company |
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TOYOTA |
SANYUNG - SYM |
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FORD |
YAMAHA |
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SUZUKI |
SUZUKI |
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MITSUBISHI |
MOTIVE POWER IND - PGO |
|
-- |
KWANG YANG MOTORS - KYMCO |
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Overseas
Customers |
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Company |
Country |
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YAMAHA |
Japan, Brazil, France, Spain |
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SUZUKI |
U.S.A. , Spain |
|
ALSONS AUTO PARTS |
Pakistan |
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SPEEDY MONENTUM |
Malaysia |
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SIEMENS V.D.O |
Malaysia , Indonesia |
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TELEFLEX |
U.S.A. |
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THOMAS G.FARIA |
U.S.A |
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AUTO METER |
U.S.A |
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E.C.I.E |
Italy |
Import and export right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials and components, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials and components, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Sales
Domestic Markets
|
Product |
Vehicles and motorcycle parts, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Vehicles and motorcycle parts, 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 found that subject’s annual sales is
about USD 46,200,000, but the information is not confirmed and only for
reference.
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Mortgage
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Case Type: |
Chattel Mortgage |
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File No.: |
072180 |
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Debtor Name: |
Chao Long Motor Parts Corp. |
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Document Number: |
09005183720 |
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Date of Registration: |
2001-12-25 |
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 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.75 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.74.38 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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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.