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MIRA
INFORM REPORT
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Report No. : |
512233 |
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Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
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Name : |
CADA INDUSTRIAL CO. LTD. |
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Registered Office : |
No.127, Hsin
Hsing St., Luzhu Dist., Taoyuan City 338, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
05.08.1988 |
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Com. Reg. No.: |
22985171 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in manufacturing of engine
gasket parts. |
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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 : |
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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CADA Industrial Co., Ltd. |
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Supplied Name: |
CADA INDUSTRIAL
CO LTD |
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Trading Address: |
No.127, Hsin
Hsing St., Luzhu Dist., Taoyuan City 338, Taiwan (R.O.C.) |
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Supplied Address: |
NO 127 HSIN HSING
ST CHU DIST TAOYUAN CITY 338 ROC |
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Telephone Number: |
+886-3341-3333 |
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Fax Number: |
+886-3341-3399 |
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E-mail: |
Crediteyes Notes: The exact name and address are as above.
Company Identification Details
Crediteyes
Note:
Subject declined to disclose the number of
staff, and from other source we cannot obtain the
information, either.
History
Subject was
incorporated on 1988-8-5 with registered number 22985171 as Joint Stock Company in Taiwan.
Corporate Structure
Factory
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Name: |
Taoyuan Factory |
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Address: |
No.127, Hsin Hsing St., Luzhu Dist.,
Taoyuan City 338, Taiwan (R.O.C.) |
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Date of Foundation: |
1997-9-3 |
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Date of Registration: |
1998-7-29 |
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Factory Registration Number: |
99625725 |
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Factory Manager: |
Xizhen Chen |
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Status: |
In Production |
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Date of Last
Annual Return: |
2005-1-5 |
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Major Products: |
311 Ship and its parts 303 Automobile parts |
Shareholders
Major Shareholders
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Name |
Subscription Shares |
| Xizhen Chen |
750,000 |
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Yixiu Chen |
6,500,000 |
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Yuanding Chen |
11,500,000 |
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Yuanxiang Chen |
8,500,000 |
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Shuhui Huang |
750,000 |
Management Information
Core Management
Directors
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1 |
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Name |
Xizhen Chen |
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Position |
Chairman of the Board |
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2 |
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Name |
Yixiu Chen |
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Position |
Director |
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3 |
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Name |
Yuanding Chen |
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Position |
Director |
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4 |
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Name |
Yuanxiang Chen |
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Position |
Director |
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5 |
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Name |
Shuhui Huang |
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Position |
Supervisor |
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Operation Information
Offices & Factories
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Headquarters |
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Add |
No.127,
Hsin Hsing St., Luzhu Dist., Taoyuan City 338, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of engine
gasket parts, etc.
It is introduced that subject has a factory
in Taiwan for production.
Subject obtained the certifications of ISO
9001, ISO 14001 and ISO/TS 16949.
Purchase Information
The registered activities of subject:
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Business Code |
Details |
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CD01030 |
Manufacturing of automobile and its parts |
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CD01040 |
Manufacturing of motorbike and its parts |
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CB01010 |
Manufacturing of machinery |
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CB01990 |
Manufacturing of other machinery |
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CD01010 |
Manufacturing of ship and its parts |
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C804020 |
Manufacturing of industrial rubber products |
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E605010 |
Installation of computer equipment |
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E801010 |
Upholstery industry |
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F102050 |
Wholesale of tea |
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F106050 |
Wholesale of ceramics and glassware |
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F113050 |
Wholesale of computer and transactional
machine |
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F118010 |
Wholesale of information software |
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F203010 |
Retail of food and beverage |
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F206020 |
Retail of daily supplies |
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F213030 |
Retail of computer and transactional
machine |
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F218010 |
Retail of information software |
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F401010 |
International trade |
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IZ06010 |
Distribution & packing business |
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G801010 |
Warehousing industry |
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G799990 |
Other supporting and auxiliary transport |
The raw materials for production are
purchased both at home and abroad.
Sales Information
Subject is
engaged in sale of engine gasket parts, etc.
The major products include full gasket sets,
head gasket sets, conversion gasket sets, cylinder head gaskets,
oil seals, head bolt sets and so on.
It is introduced that subject has its own
brands named “ERISTIC”, “CADA”, etc.
Subject’s sales regions include domestic
market, Asia, America, Europe, Oceania, Africa, etc.
It is introduced that subject’s customers
include Engine Parts Group Inc., Fraco Fabrica Colombiana De Repuestos
Automotores S.A., CNS Motors Inc., 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, etc. |
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Payment Terms |
T/T, Cash, etc. |
Import
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Products |
Raw materials, etc. |
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Payment Terms |
L/C, T/T, etc. |
Domestic Markets
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Product |
Engine gasket
parts, etc. |
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Selling Terms |
T/T, Cash, etc. |
Export
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Product |
Engine gasket
parts, 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
Subject declined to disclose its bank details; from other source we could
not obtain the relevant information, either. The supplied Bankers: BANK OF
TAIWAN cannot be confirmed from any source.
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 |
The Operator |
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
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Analysis Done by
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VIV |
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Report Prepared
by : |
POJ |
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
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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.