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MIRA INFORM REPORT
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Report No. : |
484233 |
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Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
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Name : |
ATICS INDUSTRIAL CORP. |
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Registered Office : |
12th Fl. No. 62, Sec. 1, Fu Hsing South Rd.
Taipei, Taiwan R.O.C. |
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Country : |
Taiwan |
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Date of Incorporation : |
31.05.1978 |
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Com. Reg. No.: |
12175807 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in manufacturing
and sales of zippers |
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No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Taiwan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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. Domestic economic issues
loomed large in public debate ahead of the January 2016 presidential
and legislative elections, including concerns about stagnant wages, high
housing prices, youth unemployment, job security, and financial security in
retirement.
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Source
: CIA |
Company
name and address
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Company Name: |
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Supplied Name: |
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Trading Address: |
12th Fl. No. 62, Sec. 1, Fu
Hsing South Rd. Taipei, Taiwan R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-2-2781-7077,
2781-5435 |
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Fax Number: |
+886-2-2771-3447,
2781-0765 |
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E-mail: |
Notes:
The accurate name and address are as above.
Company
Identification Details
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Registered Name: |
Atics Industrial Corp. |
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Registered Address: |
12th Fl. No. 62, Sec. 1, Fu Hsing South Rd.
Taipei, Taiwan R.O.C. |
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Date of Foundation: |
1978-5-31 |
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Registration Number: |
12175807 |
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Registry: |
Taipei City Government |
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Registered Capital: |
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Paid-up Capital: |
NTD 65,000,000 (USD 1,950,000) |
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Legal Representatives: |
Xiuyu 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.
History
Subject was
incorporated on 1978-5-31 with registered number 12175807 as Joint Stock
Company in Taiwan.
Corporate
Structure
Factory
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1 |
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Address: |
No.78,
Laonong Rd., Tianzhong Township, Changhua County, Taiwan (R.O.C.) |
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Date
of Registration: |
2013-8-9 |
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Factory
Registration Number: |
07000915 |
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Factory Manager: |
Xiuyu
Liu |
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Status: |
In
production |
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Date of Last Annual Return: |
2013-8-9 |
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Major Products: |
111
spinning |
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2 |
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Address: |
No.78,
Laonong Rd., Sha Lun Li, Tianzhong Township, Changhua County, Taiwan (R.O.C.) |
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Date
of Foundation: |
1987-7-8 |
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Date
of Registration: |
1993-6-26 |
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Factory
Registration Number: |
99645317 |
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Factory Manager: |
Xiuyu
Liu |
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Status: |
In
production |
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Date of Last Annual Return: |
2013-8-9 |
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Major Products: |
114
printing, dying and processing 123
garment |
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3 |
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Address: |
No.51,
Lane 231, Sec. 1, Nankan Rd., Taoyuan City, Taoyuan County, Taiwan (R.O.C.) |
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Date
of Registration: |
2003-5-5 |
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Factory
Registration Number: |
99686857 |
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Factory Manager: |
Xiuyu
Liu |
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Status: |
In
production |
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Date of Last Annual Return: |
2017-10-24 |
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Major Products: |
220
plastic and rubber items 339
other unclassified products |
Shareholders
Major
Shareholders
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Name |
Subscription Shares |
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Xiuyu
Liu |
1,529,938
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Qingtang
Liu |
1,202,580
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Management
Information
Core
Management
Directors
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1 |
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Name |
Xiuyu
Liu |
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Position |
Board
Chairman |
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2 |
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Name |
Zhiming
Chen |
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Position |
Director
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3 |
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Name |
Qingtang
Liu |
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Position |
Director |
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4 |
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Name |
Shujuan
Chen |
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Position |
Supervisor
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Operation
Information
Offices
& Factories
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Headquarters |
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Add |
12th Fl. No. 62, Sec. 1, Fu Hsing South Rd. Taipei, Taiwan R.O.C. |
Production
Information
Subject
is engaged in manufacturing of zippers and etc.
Subject
has factories in Taiwan and etc for production.
It
is introduced that subject’s monthly capacity is 6,000,000 to 6,999,999 Pieces
Subject
obtained the certification of ISO
9001:2000, and the details as following:
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Certificate
Standard: |
ISO
9001:2000 |
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Number:
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1649 |
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Issue
Date: |
01-Nov-2001 |
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Expiry
Date: |
31-Oct-2004 |
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Issued
By: |
UKAS |
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Scope/Range: |
For
manufacture, dyeing and setting of zipper products |
Purchase
Information
The
registered activities of subject:
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Business
Code |
Details |
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A101020 |
Planting
of corps |
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A102020 |
Processing
of agricultural products |
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C301010 |
Yarn
Spinning |
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C302010 |
Fabric
Knitting |
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C305010 |
Printing
and dyeing industry |
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C306010 |
garment
industry |
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CZ99020 |
Zipper
and buttons manufacturing |
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F102170 |
Wholesales
of food and groceries |
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F113010 |
Wholesales
of machinery |
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F203010 |
Retail
of food and groceries and beverage. |
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F213080 |
Retails
of Machinery and mechanical appliances |
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F401010 |
International
Trading Business |
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ZZ99999 |
Besides
licensed business, all other business items those are not banned or
restricted. |
Subject
purchase its raw materials and etc both at home and abroad.
Subject is engaged in sale of zippers , etc.
The
major products include Polyester zippers, Plastic molded zippers, Invisible
zippers, Metal zippers, Sliders and zipper components, Raw materials for making
zippers, Zipper machines and parts and etc.
Subject’s
sales regions include Asia, Europe, America and etc.
Subject’s
major customers are textile industry, garment industry and etc.
It
is introduced that subject also provide OEM services and etc.
Import
and export right:
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Import
right |
Yes |
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Export
right |
Yes |
Settlements
Purchase
Domestic
Purchase
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Products |
Raw materials and etc. |
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Payment Terms |
Cash, T/T and etc |
Import
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Products |
Raw materials and etc. |
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Payment Terms |
L/C, T/T and etc |
Sales
Domestic
Markets
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Product |
Zippers
, etc. |
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Selling Terms |
Cash, T/T and etc |
Export
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Product |
Zippers
, etc. |
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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 Ms. Liu 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
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Name |
Ms. Liu |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.34 |
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1 |
INR 85.89 |
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Euro |
1 |
INR 76.15 |
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TWD |
1 |
INR 2.15 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.