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MIRA INFORM REPORT
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Report No. : |
511947 |
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Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
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Name : |
ACCUTEX TECHNOLOGIES CO., LTD. |
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Registered Office : |
No.20, Jingke Rd., 18 Lin, Wenshan Li,
Nantun District, Taichung City 408 |
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Country : |
Taiwan |
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Date of Incorporation : |
24.07.2001 |
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Com. Reg. No.: |
12841871 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sale of wire cut EDM |
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No. of Employees : |
100 |
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 : |
No Complaints |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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. 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.
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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. 20, Jingke Road, Wenshan Li, Nantun
District, Taichung City, Taiwan |
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Supplied Address: |
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Telephone Number: |
+886-4-2359-9688 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact name and address are as above.
Company
Identification Details
History
Subject was
incorporated on 2001-7-24 with registered number 12841871
as Joint
Stock Company in Taiwan.
Corporate
Structure
Factory
|
Address: |
No.
20, Jingke Road, Wenshan Li, Nantun District, Taichung City, Taiwan |
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Date
of Registration: |
2009-3-31 |
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Factory
Registration Number: |
99720565 |
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Factory Manager: |
Shunyuan
Chen |
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Status: |
In
Production |
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Date of Last Annual Return: |
2009-3-31 |
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Major Products: |
291
metal processing machinery equipment 293
General machinery equipment |
Offices
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1 |
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Name: |
East
China Office |
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Address: |
No.
219, Sheng-Xiang Zhong Rd., Qiandeng Town, Kunshan City, China |
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Tel: |
+86-512-5766-2779 +86-189-1498-8889 |
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Email: |
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2 |
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Name: |
South
China Office |
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Address: |
No.
188, Zhen-An Zhong Rd., Changan Town, Dongguan City, China |
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Tel: |
+86-136-0025-6500
+86-769-8575-2626 |
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3 |
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Name: |
North
China Office |
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Address: |
Rm.
4-2-403, Xincunbei Lane, Dabi Village, Dongli District, Tianjin City, China |
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Tel: |
+86-22-2645-6212 +86-189-1498-8885 |
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4 |
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Name: |
Xiamen
Office |
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Tel: |
+86-181-2292-9228 |
Shareholders
Major
Shareholders
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Name |
Subscription Shares |
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Shunyuan Chen |
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460,946 |
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Shihao
Xue |
833,254 |
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Ruifang
Liang |
453,988 |
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Chengfu
Cai |
1,042,464 |
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Xin
Yi Investment Co., Ltd. (Literal Translation) |
5,020,259 |
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Dongquan
Wu |
16,000 |
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Hongjun
Ke |
109,698 |
Shareholder
Information:
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Registered Name: |
Xin
Yi Investment Co., Ltd. (Literal
Translation) |
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Registered Address: |
No. 421, Youyuan South Road, Xindong Li, Longjing
District, Taichung City, Taiwan |
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Date of Foundation: |
2007-7-17 |
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Registration Number: |
28757104 |
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Registry: |
Taichung City Government |
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Registered Capital: |
NTD 107,100,000 (USD 3,534,300) (As of 2018.6, 1 NTD = 0.033 USD) |
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Paid-up Capital: |
NTD 107,100,000 (USD 3,534,300) |
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Legal Representatives: |
Rizhong Liao |
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Legal Form: |
Joint
Stock Company |
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Date of Last Annual Return: |
2015-9-15 |
Management
Information
Core
Management
Directors
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1 |
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Name |
Shunyuan
Chen |
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Position |
Chairman
Of The Board |
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2 |
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Name |
Shihao
Xue |
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Position |
Director |
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3 |
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Name |
Ruifang
Liang |
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Position |
Director |
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4 |
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Name |
Chengfu
Cai |
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Position |
Director |
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5 |
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Name |
Rizhong
Liao |
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Position |
Director |
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6 |
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Name |
Chunzu
Lin |
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Position |
Director |
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7 |
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Name |
Dongquan
Wu |
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Position |
Director |
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8 |
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Name |
Hongjun
Ke |
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Position |
Supervisor |
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Personnel
Structure
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Total
Employees |
About
100 Employees |
Operation
Information
Offices
& Factories
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Headquarters |
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Add |
No. 20, Jingke Road,
Wenshan Li, Nantun District, Taichung City, Taiwan |
Production
Information
Subject
is engaged in manufacturing of wire cut EDM.
Subject
has a factory in Taichung city, Taiwan for production.
It
is introduced subject has a factory in Kunshan, Jiangsu province of China.
Purchase
Information
The
registered activities of subject:
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Business
Code |
Details |
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CB01010 |
Manufacturing
of machinery equipment. |
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CC01110 |
Manufacturing
of computers and peripherals. |
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CA01050 |
Secondary
processing of steel. |
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F113010 |
Wholesale
of machinery. |
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F213080 |
Retail
of mechanical equipment. |
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F401010 |
International
trading business. |
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H701010 |
Developing
and leasing of residence and buildings. |
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ZZ99999 |
Besides
licensed business, all other business items those are not banned or
restricted. |
The
components and raw materials for production are mostly purchased in Taiwan.
Subject is engaged in sale of wire cut EDM.
The
major products are GE series general wire cut EDM, AU series standard wire cut
EDM, AP series cutting-edge wire cut EDM, EZ series wire cut EDM, AL series
wire cut EDM, chiller, CNC-EDM machine series and so on.
Subject’s
sales regions are domestic market, Malaysia, Korea, Thailand, Indonesia, Japan,
Russia, United Kingdom, Italy, Ukraine, USA, Brazil, Peru, Argentina, etc.
The
general delivery lead time of subject is about 45-60 days.
It
is introduced subject provides installing and after-sales services.
It
is introduced subject has many agencies in Asia, Middle East, Europe, America
and so on, such as STC Global Co., Ltd., Idea CNC Co. Ltd., Nextec, R.B.O.
(International Co.) Ltd., CNC International Services., Absolute Machine Tools,
Inc., etc.
Subject’s
major customers are manufacturing enterprises of metal accessory parts, etc.
Two
major customers of subject are P. M. Grinding Works and Electronica Hitech
Machine Tools Pvt. Ltd.
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 |
Components
and raw materials, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
Subject
has little import.
Domestic
Markets
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Product |
Wire
cut EDM, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Wire
cut EDM, 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.
Bankers
|
Name |
Mega International Commercial
Bank Co., Ltd. |
Public
Record
Mortgage
No
chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
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Trial Number: |
2010, Zhongsu, 2 |
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Date of Trial: |
2010-7-26 |
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Reason: |
Performance Of Contract |
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Claimant: |
Xiu Feng Machinery Co., Ltd. (Literal Translation) |
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Defendant: |
Accutex Technologies Co., Ltd. |
Special
Note
Interview
Details
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Name |
Mr. Lee |
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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 67.45 |
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1 |
INR 89.79 |
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Euro |
1 |
INR 78.79 |
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TWD |
1 |
INR 2.25 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
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
·
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.