MIRA INFORM REPORT

 

 

Report No. :

504890

Report Date :

26.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SPRING LAKE ENTERPRISE CO., LTD.

 

 

Registered Office :

14 Chien Fu Rd., Nei Pu Industrial Park, Nei Pu, Ping Tung

 

 

Country :

Taiwan

 

 

Date of Incorporation :

18.04.1980

 

 

Com. Reg. No.:

82079454

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturing and Sales of Metal Components, etc.

 

 

No. of Employees :

About 25

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

 

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

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

 

Country Name

                Previous Rating               

(30.09.2017)

Current Rating

(31.12.2017)

Taiwan

A1

A1

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

TAIWAN - ECONOMIC OVERVIEW

 

Taiwan has a dynamic capitalist economy that is driven largely by industrial manufacturing, and especially exports of electronics, machinery, and petrochemicals. This heavy dependence on exports exposes the economy to fluctuations in global demand. Taiwan's diplomatic isolation, low birth rate, rapidly aging population, and increasing competition from China and other Asia Pacific markets are other major long-term challenges.

 

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 of that year, 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 uncertain. President TSAI since taking office in May 2016 has promoted greater economic integration with South and Southeast Asia through the New Southbound Policy initiative and has also expressed interest in Taiwan joining the Trans-Pacific Partnership as well as bilateral trade deals with partners such as the US. These overtures have likely played a role in increasing Taiwan’s total exports, which rose 11% during the first half of 2017, buoyed by strong demand for semiconductors.

 

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 with many economies, including China and the US, 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 and has also secured greater market access for its investors on 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 renminbi (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 opportunities for Taiwan’s economy but also pose challenges as political differences remain unresolved and China’s economic growth is slowing. President TSAI’s administration has made little progress on the domestic economic issues that loomed large when she was elected, including concerns about stagnant wages, high housing prices, youth unemployment, job security, and financial security in retirement. TSAI has made more progress on boosting trade with South and Southeast Asia, however, which may help insulate Taiwan’s economy from a fall in mainland demand should China’s growth slow in 2018.

 

Source : CIA

 

 

Contact Points

 

Company Name:

SPRING LAKE ENTERPRISE CO., LTD.

Supplied Name:

SPRING LAKE ENTERPRISE CO. LTD.

Trading Address:

14 Chien Fu Rd., Nei Pu Industrial Park, Nei Pu, Ping Tung, Taiwan

Supplied Address:

14 CHIENFU ROAD NEIPU INDUSTRIAL PARK, NEIPU PING TUNG HSIEN R.O.C.

Telephone Number:

+886-8-7790642

Fax Number:

+886-8-7791395

 

Notes: The exact name and address are as above.

 

 

Company Identification Details

 

Registered Name:

SPRING LAKE ENTERPRISE CO., LTD.

Registered Address:

14 Chien Fu Rd., Nei Pu Industrial Park, Nei Pu, Ping Tung, Taiwan

Date of Foundation:

1980-4-18

Registration Number:

82079454

Registry:

MOEA Central Office

Registered Capital:

NTD 23,000,000 (USD 690,000)

(As of 2018.04, 1 NTD = 0.03 USD)

Paid-up Capital:

NTD 23,000,000 (USD 690,000)

Legal Representatives:

Junze Chen

Legal Form:

Joint Stock Company

Principal Activities:

Manufacturing and sales of metal components, etc.

Staff:

About 25 Employees

Listed at Stock Exchange:

No

Date of Last Annual Return:

2016-1-4

 

 

History

 

Subject was incorporated on 1980-4-18 with registered number 82079454 as Joint Stock Company in Taiwan.

 

 

Corporate Structure

 

Factory

Address:

14 Chien Fu Rd., Nei Pu Industrial Park, Nei Pu, Ping Tung, Taiwan

Date of Foundation:

1991-3-28

Date of Registration:

1991-2-28

Factory Registration Number:

99665678

Factory Manager:

Junze Chen

Status:

In production

Date of Last Annual Return:

2007-11-15

Major Products:

259 other metal items

 

 

Shareholders

 

Major Shareholders

 

Name

Subscription Shares

Junze Chen

10,000

Yanwen Chen

2,025

Yanru Chen

2,025

Lixiang Liu

8,950

 

 

Management Information

 

Core Management

 

Directors

1

Name

Junze Chen

Position

Board Chairman

2

Name

Yanwen Chen

Position

Director

3

Name

Yanru Chen

Position

Director

4

Name

Lixiang Liu

Position

Supervisor

 

Personnel Structure

 

Total Employees

About 25 Employees

 

 

Operation Information

 

Offices & Factories

 

 

Headquarters

Add

14 Chien Fu Rd., Nei Pu Industrial Park, Nei Pu, Ping Tung, Taiwan

 

Production Information

 

Subject is engaged in manufacturing of metal components, etc.

Subject has a factory in Taiwan for production.

Subject obtained the certification of ISO 9001,ISO and TS16949.

 

Purchase Information

 

The registered activities of subject:

 

Details

1

Manufacturing, processing, and trading of metal building materials, bicycles and parts, machinery and parts, sports equipment, wooden furniture, rattan furniture, toys (except for electric toys) and handicrafts

2

Related import and export trading business.

 

Subject purchases it raw materials and etc both at home and abroad.

 

Sales Information

 

Subject is engaged in sale of metal components, etc.

The major products include Cold Heading and Forming, Stamping, Assembly, Open Die, Fastening Components and etc.

Subject’s sales regions include Asia, Europe, America and etc.

Subject’s major customers are construction companies, machine building companies, furniture manufacturing and designing companies and etc.

It is introduced that subject has cooperate with many companies such as Multitech Industries, Inc. and etc.

 

Import and export right:

Import right

Yes

Export right

Yes

 

Settlements

 

Purchase

 

Domestic Purchase

Products

Raw materials and etc

Payment Terms

Cash, T/T and etc

 

Import

Products

Raw materials and etc

Payment Terms

L/C, T/T and etc

 

Sales

 

Domestic Markets

Product

Metal components, etc.

Selling Terms

Cash, T/T and etc

 

Export

Product

Metal components, etc.

Selling Terms

L/C, T/T and etc

 

 

Financial Information

 

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.

 

 

Bankers

 

Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.

 

 

Public Record

 

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.

 

 

Special Note

 

Interview Details

Department

Sales Department

E-mail

info@springlake.com.tw

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.70

UK Pound

1

INR 93.14

Euro

1

INR 81.43

TWD

1

INR 2.25

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

TPT

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.