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MIRA INFORM REPORT
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Report No. : |
510698 |
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Report Date : |
25.05.2018 |
IDENTIFICATION DETAILS
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Name : |
SHE HONG INDUSTRIAL CO., LTD. |
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Registered Office : |
No.6, Road 6, Industrial Area, Taichung
Taiwan R.O.C. |
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Country : |
Taiwan |
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Date of Incorporation : |
23.12.1970 |
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Com. Reg. No.: |
51321357 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sales of Vertical
Machining Center, etc. |
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No. of Employees : |
About 500 |
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 : |
Exist |
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 |
Contact
Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
+886-4-2359-2747 |
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Fax Number: |
+886-4-2359-2837/ 2358-1793 |
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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 1970-12-23 with registered number 51321357
as Joint Stock Company in Taiwan.
Corporate
Structure
Factories
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1 |
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Address: |
No.6, Road 6, Industrial Area, Taichung Taiwan R.O.C. |
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Date of Foundation: |
1981-7-15 |
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Date of Registration: |
1985-9-9 |
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Factory Registration Number: |
99669169 |
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Factory Manager: |
Guanling Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2012-3-27 |
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Major Products: |
291 metal processing machinery |
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2 |
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Name: |
The 3rd Factory |
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Address: |
No. 3. Jingke North Road, Wenshan Li, Nantun
District, Taichung City, Taiwan, R.O.C. |
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Date of Registration: |
2010-4-8 |
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Factory Registration Number: |
99720656 |
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Factory Manager: |
Guanling Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2016-9-14 |
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Major Products: |
291 metal processing machinery 292 other special machinery |
Note: It is introduced that subject also has a
factory in Thailand, but we cannot find any relevant information from any
sources.
Sales Office
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Address: |
No.3 JingKe N. Rd., Nantun Dist., Taichung City 40852 Taiwan |
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Telephone Number: |
+886-4-2350-1980 |
Related Company
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Name: |
Hartford Motors Co., Ltd |
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Address: |
No.3 JingKe N. Rd., Nantun Dist., Taichung City 40852 Taiwan |
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Principal Activities: |
Manufacturing and sale of motor cycles, etc. |
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Tel: |
+886-4-2359-9218 |
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Fax: |
+886-4-2359-3673 |
Shareholders
Major Shareholders
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Name |
Subscription Shares |
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Guanjun Chen |
118,412 |
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Shu You |
132,535 |
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Pinwan Chen |
118,412 |
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Jianzhi Chen |
85,909 |
Management
Information
Core Management
Directors
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1 |
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Name |
Guanjun Chen |
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Position |
Board Chairman |
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2 |
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Name |
Shu You |
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Position |
Director |
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3 |
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Name |
Pinwan Chen |
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Position |
Director |
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4 |
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Name |
Jianzhi Chen |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 500 Employees |
Operation
Information
Offices & Factories
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Headquarters |
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Add |
Production Information
Subject is engaged in manufacturing of vertical machining center, etc.
Subject has two factories in Taichung, Taiwan (about 70,000 square
meters) and one factory in Thailand for production.
It is introduced that subject’s annual production capacity of CNC
machine is about 2,400 units.
Subject obtained the certification of ISO 9002 and AS9100.
Purchase Information
The registered activities of subject:
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Business Code |
Details |
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Manufacturing, processing, and sales of automobile, motor, and machine
element |
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Manufacturing, processing, and sales of ironmongery |
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Manufacturing, processing, and sales of all kinds of machinery and
hardware tool |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject purchases its components and raw materials mainly in Taiwan and
from Japan and Germany, etc.
Subject is engaged in sale of vertical machining center, etc.
Subject’s major products are Multi-Surface Double Column machining
center, Vertical machining center, Horizontal machining center, 5 Axis Vertical
Machining Center, Special Purpose machining center, Double column machining
center, Moving Crossbeam Machining Center, Precision Boring & Milling, etc.
The major sales regions cover Taiwan, The Mainland of China, Southeast
Asia, Middle East, Africa, Europe, America and Australia, etc.
The general delivery lead time of subject for 5 axis vertical machining
center is about 120 days.
It is introduced that subject has an agent in Dongguan City, the
Mainland of China.
Subject has its own brand “Hartford”
Some of subject’s customers are Pratt Whitney, General Electric, Toyota,
Honda, I.A.I 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 |
Components and raw materials |
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Payment Terms |
Cash, T/T and etc |
Import
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Products |
Components and raw materials |
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Payment Terms |
L/C, T/T, etc. |
Sales
Domestic Markets
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Product |
Vertical machining center, etc. |
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Selling Terms |
Cash, T/T and etc |
Export
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Product |
Vertical machining center, 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.
Public
Record
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuits
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1 |
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Trial Number: |
2012, Zhonglaojian,54 |
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Date of Trial: |
2012-12-26 |
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Reason: |
Severance pay |
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Claimant: |
Yuhui Chen |
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Defendant: |
She Hong Industrial Co., Ltd. |
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2 |
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Trial Number: |
2012, Zhongbu,1225 |
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Date of Trial: |
2012-7-16 |
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Reason: |
Severance pay |
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Claimant: |
Yuhui Chen |
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Defendant: |
She Hong Industrial Co., Ltd. |
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3 |
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Trial Number: |
2008,Zhonglaojian,17 |
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Date of Trial: |
2008-7-23 |
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Reason: |
Make sure the employment relationship exists |
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Claimant: |
She Hong Industrial Co., Ltd. |
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Defendant: |
Not Stated |
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4 |
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Trial Number: |
2008,Zhonglaojian,17 |
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Date of Trial: |
2008-7-1 |
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Reason: |
Make sure the employment relationship exists |
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Claimant: |
Not Stated |
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Defendant: |
She Hong Industrial Co., Ltd. |
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5 |
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Trial Number: |
2008,Zhongbu,170 |
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Date of Trial: |
2008-1-23 |
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Reason: |
Make sure the employment relationship exists |
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Claimant: |
Not Stated |
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Defendant: |
She Hong Industrial Co., Ltd. |
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6 |
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Trial Number: |
2006,Zhongbu,979 |
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Date of Trial: |
2006-8-15 |
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Reason: |
Severance pay |
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Claimant: |
Not Stated |
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Defendant: |
She Hong Industrial Co., Ltd. |
Special
Note
Interview Details
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.39 |
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1 |
INR 91.44 |
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Euro |
1 |
INR 80.14 |
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TWD |
1 |
INR 2.28 |
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 : |
TPT |
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.