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MIRA INFORM REPORT
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Report No. : |
485780 |
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Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
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Name : |
BIING FENG ENTERPRISE CO., LTD. |
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Registered Office : |
No.16, Lane 23,Chung Cheng Rd., Alian Dist.,
Kaohsiung City 822, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
13.10.1986 |
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Com. Reg. No.: |
22283185 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of machine |
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No. of Employees : |
50 |
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: |
No.16, Lane
23,Chung Cheng Rd., Alian Dist., Kaohsiung City 822, Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
+886-7-631-8808 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
Company
Identification Details
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Registered Name: |
Biing Feng Enterprise Co., Ltd. |
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Registered Address: |
No.16, Lane 23,Chung Cheng Rd., Alian Dist.,
Kaohsiung City 822, Taiwan (R.O.C.) |
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Date of Foundation: |
1986-10-13 |
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Registration Number: |
22283185 |
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Registry: |
Economic Development Board of Kaohsiung City
Government |
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Registered Capital: |
NTD 28,700,000
(USD 947,100) |
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Paid-up Capital: |
NTD 28,700,000 (USD 947,100) |
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Legal Representatives: |
Shaoying Wei |
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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: |
History
Subject was
incorporated on 1986-10-13 with registered number 22283185 as Joint Stock Company in Taiwan.
Corporate
Structure
Factory
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Address: |
No.
16 & No. 18, Lane 23, Zhongzheng Road, Nanlian Li, Alian Dist., Kaohsiung City 822, Taiwan |
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Date
of Foundation: |
1990-12-31 |
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Date
of Registration: |
1990-12-31 |
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Factory
Registration Number: |
99664722 |
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Factory Manager: |
Shaoying
Wei |
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Status: |
In
Production |
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Date of Last Annual Return: |
2013-05-31 |
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Major Products: |
291
Metal processing machinery equipment |
Shareholders
Major
Shareholders
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Name |
Subscription Shares |
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Shaoying Wei |
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1,800 |
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Meifeng
Qiu |
11,050 |
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Youlin
Wei |
13,700 |
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Qiumeizhen
Guo |
650 |
Management
Information
Core
Management
Directors
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1 |
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Name |
Shaoying
Wei |
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Position |
Board
Chairman |
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2 |
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Name |
Meifeng
Qiu |
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Position |
Director
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3 |
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Name |
Youlin
Wei |
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Position |
Director
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4 |
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Name |
Qiumeizhen
Guo |
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Position |
Supervisor
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Personnel
Structure
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Total
Employees |
About
50 Employees |
Operation
Information
Offices
& Factories
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Headquarters |
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Add |
No.16, Lane 23,Chung Cheng Rd., Alian Dist., Kaohsiung City 822, Taiwan
(R.O.C.) |
Production
Information
Subject
is engaged in manufacturing of machine, etc.
Subject
has a factory in Taiwan for production.
Subject
obtained the certification of CE.
Purchase
Information
The
registered activities of subject:
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No.
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Details |
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1 |
Screws,
nuts and molds manufacturing, processing and sales |
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2 |
Screw,
nut, tapping machine and parts manufacturing, processing and sales |
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3 |
Import
and export of related raw materials and products |
The
components and raw materials for production are mostly purchased in Taiwan, and
the bearings are purchased from Sweden.
Subject is engaged in sales of machine, etc.
The
major products are nut and part former machine, long stroke fastener part
former machine and P.K.O. fastener part former machine, etc.
The
products are mainly applied for nut and part manufacturing, etc.
Subject’s
sales regions include domestic market, Southeast Asia and North America, etc.
The
product has been sold to about 32 countries all over the world.
The
general delivery lead time of subject is about 100 days.
Subject’s
major customers are manufacturers of machinery parts and nuts, 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 components, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
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Products |
Components, etc. |
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Payment Terms |
L/C, T/T, etc. |
Domestic
Markets
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Product |
Machine, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
Machine, etc. |
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Selling Terms |
L/C, T/T, 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.
Banker
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Name |
Mega
International Commercial Bank |
Public
Record
Mortgage
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Case Type: |
Chattel Mortgage |
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Registered Number: |
80-106-424-1(15065) |
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Debtor Name: |
Biing Feng Enterprise Co.,
Ltd. |
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Registry: |
Directorate-General of
Highways, MOTC |
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Name of Mortgagee: |
Mercedes-Benz Taiwan, Ltd. |
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Date of Registration: |
2017-08-21 |
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Amount of Secure Claims: |
NTD 1,862,000 |
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Type of Mortgage: |
Automobile, large heavy
machine, bicycle or trailer |
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 |
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Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.76 |
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1 |
INR 87.91 |
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Euro |
1 |
INR 78.20 |
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TWD |
1 |
INR 2.16 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRA |
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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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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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.