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MIRA INFORM REPORT
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Report No. : |
508219 |
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Report Date : |
12.05.2018 |
IDENTIFICATION DETAILS
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Name : |
EXCELLENCE WIRE INDUSTRIAL CO., LTD. |
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Registered Office : |
No.48, Sec.2, Chang An Rd., Luzhu Dist., Taoyuan City 338, Taiwan
(R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
18.12.1987 |
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Com. Reg. No.: |
22698987 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and sales of electronics, |
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No. of Employees : |
20 |
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 (30.09.2017) |
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. 13, Lane 39, Sec. 2, Chang An Rd.,
Luchu Distr., Taoyuan City 338, Taiwan |
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Supplied
Address: |
No.13, Lane 39, Sec. 2, Chang An Rd., Lu
Chu Hsiang, Taoyuan Taoyuan |
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Telephone
Number: |
+886-3-322-2120 |
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Fax
Number: |
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E-mail: |
Notes:
The exact name and address are as above. The supplied address is the registered
address and factory address.
Company
Identification Details
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Registered
Name: |
Excellence
Wire Industrial Co., Ltd. |
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Registered
Address: |
No.48,
Sec.2, Chang An Rd., Luzhu Dist., Taoyuan City 338, Taiwan (R.O.C.) |
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Date
of Foundation: |
1987-12-18 |
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Registration
Number: |
22698987 |
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Registry: |
Taoyuan
City Government |
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Registered
Capital: |
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Paid-up
Capital: |
NTD
96,000,000 (USD 3,168,000) |
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Legal
Representatives: |
Xinghui
Chen |
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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 1987-12-18 with
registered number 22698987 as Joint Stock Company in Taiwan.
Corporate
Structure
Factories
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1 |
|
|
Address: |
No.48,
Sec.2, Chang An Rd., Luzhu Dist., Taoyuan City 338, Taiwan (R.O.C.) |
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Date
of Foundation: |
1986-12-31 |
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Date
of Registration: |
1988-03-09 |
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Factory
Registration Number: |
99626195 |
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Factory
Manager: |
Xinghui
Chen |
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Status: |
In
Production |
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Date
of Last Annual Return: |
2002-08-26 |
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Major
Products: |
259
Other metal products 289
Other electrical equipment 262
Passive Component Manufacturing |
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2 |
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Name: |
The
2nd Factory |
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Address: |
No.
13, Lane 39, Sec. 2, Chang An Rd., Luchu Distr., Taoyuan City 338, Taiwan |
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Date
of Foundation: |
1995-08-14 |
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Date
of Registration: |
1995-11-07 |
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Factory
Registration Number: |
99626284 |
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Factory
Manager: |
Xinghui
Chen |
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Status: |
In
Production |
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Date
of Last Annual Return: |
2016-08-29 |
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Major
Products: |
259
Other metal products 269
Other electronic components 271
Computers and their peripheral equipment 272
Communication equipment |
Related
Company
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Name:
|
NingBo
Excellence Communicated Connector Co., Ltd. |
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Address: |
No.
651 Hengshanxi Road, Beilun, Ningbo, Zhejiang, China 315800 |
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Tel:
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+86-574-8686-8738 |
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Fax:
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+86-574-8686-8728 |
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E-mail: |
Shareholders
Major Shareholders
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Name |
Subscription Shares |
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Xinghui Chen |
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740,000 |
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Liping
Huang |
708,000 |
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Juanmei
Chen |
667,714 |
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Zhengyi
Su |
764,000 |
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Zhengde
Su |
1,264,000 |
Management
Information
Core Management
Directors
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1 |
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Name |
Xinghui
Chen |
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Position |
Board
Chairman |
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2 |
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Name |
Liping
Huang |
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Position |
Director
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3 |
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Name |
Juanmei
Chen |
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Position |
Director
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4 |
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Name |
Zhengyi
Su |
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Position |
Director
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5 |
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Name |
Zhengde
Su |
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Position |
Supervisor
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Personnel Structure
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Total
Employees |
About
20 Employees |
Operation
Information
Offices
& Factories
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|
Headquarters |
|
Add |
No. 13, Lane 39,
Sec. 2, Chang An Rd., Luchu Distr., Taoyuan City 338, Taiwan |
Production
Information
·
Subject
is engaged in manufacturing of electronics, etc.
·
Subject
has factories in Taiwan for production. Subject’s related company also has a
factory in Ningbo, Mainland China for production.
·
Subject
obtained the certification of SGS,
Purchase Information
The
registered activities of subject:
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Business
Code |
Details |
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CA02080 |
Metal
forging industry |
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CA02090 |
Metal
wirework manufacturing |
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CA02990 |
Other
metal products manufacturing |
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CB01990 |
Other
machinery manufacturing |
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CC01020 |
Electrical
wiring and cable manufacturing |
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F106010 |
Hardware
wholesale |
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F113010 |
Machinery
wholesale |
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F113990 |
Other
machinery instrument wholesale |
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F115020 |
Ore
wholesale |
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F199990 |
Other
wholesale |
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F101130 |
Vegetable
and fruit wholesale |
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F101990 |
Other
agricultural, livestock and aquatic products wholesale |
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A101020 |
Crop
cultivation industry |
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F401010 |
International
trade |
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I102010 |
Investment
consultancy |
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I199990 |
Other
consultancy services |
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ZZ99999 |
Besides
licensed business, all other business items those are not banned or
restricted |
It
is introduced that the components and raw materials for production are mostly
purchased in Mainland China.
·
Subject
is engaged in sale of electronics, etc.
·
The
major products are patch cord, modular plug, wire harness, gold plated wire and
accessories, etc.
·
It
is introduced that subject can also provide the ODM and OEM service for
customers.
·
Subject’s
sales regions include domestic market, Southeast Asia and Europe, etc.
·
It
is introduced that the general delivery lead time of plug is about 20-30 days.
·
Subject’s
major customers are manufacturers of electrical appliances and electronic
products, 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
Subject
has little import.
Sales
Domestic
Markets
|
Product |
Electronics,
etc. |
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Selling
Terms |
T/T,
Cash, etc. |
Export
|
Product |
Electronics,
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
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1 |
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Name |
The
First Commercial Bank |
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2 |
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Name |
Bank
of Taiwan |
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
|
Name |
Ms.
Chen |
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Department |
Sales
Department |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 67.22 |
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|
1 |
INR 90.88 |
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Euro |
1 |
INR 80.99 |
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TWD |
1 |
INR 2.26 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
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Report Prepared
by : |
KET |
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.