MIRA
INFORM REPORT
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Report Date : |
11.08.2007 |
IDENTIFICATION DETAILS
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Name : |
STEELFORCE FAR EAST LTD |
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Registered Office : |
Rm 2001 Central Plaza |
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Country : |
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Date of Incorporation : |
September 14, 2005 |
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Com. Reg. No.: |
0995715 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trading of various metal products.
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RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
Up To USD 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
STEELFORCE FAR EAST LTD
RM 2001
WANCHAI HONG KONG.
TEL : 852-28779300
FAX : 852-28100502
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 14, 2005
REGISTRATION NO. :
0995715
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
N/A
STAFF STRENGTH :
25
CAPITAL :
US$ 13,514
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81908 = US$1 AS OF 2007-8-10
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M million
HKD
*Company Name*
=============
Incorporated as :
PROMAFERCOM ASIA LTD
Date of incorporation : 14
September, 2005
Changed name to :
STEELFORCE FAR EAST LTD
Date of change : 8
April, 2006
*Company Registration*
===================
(1)
License number : 0995715
Date issued : 14
September, 2005
Issuing authority : Companies
Registry
Type of license : Corporate
license
(2)
License number : 36153576-000
Date issued : N/A
Issuing authority : Inland
Revenue Dept.
Type of license : Business
license
*Capital Details*
============
Authorized capital : EUR 10,000.00 divided into 100 ordinary shares at
EUR 100.00/-each, fully paid
*Office & Facilities*
================
Other contact details
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Fax no. :
28779323
E-mail addresses : josephine.ng@ortintertrust.com ;
business@asiatrade.com.hk
*Corporate & Organization Structure*
=============================
Organization Chart
-------------------------
STEELFORCE
__________________________________|_____________________________________________
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STEELFORCE STEELFORCE STEELFORCE STEELFORCE STEEL-LINK STEELFORCE
AFRICA ASIA
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
=================
Only PRANZA LTD can sign on behalf of the company with seal affixed.
*Registrar*
=========
FORTIS INTERTRUST (
Address : Unit 2001 Central Plaza
www.steelforce.net The design
is professional and the content is well organized. At present it is in French,
English and Spanish versions.
E-mail: fareast@steelforce.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholder
: 1
Total number of ordinary shares : 100
Shareholder's Name
No. of Ordinary Shares Amount
of Shares (EUR) % of Shares
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STEELFORCE BVBA 100 10,000.00 100.00
Share transfer :
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Date
No of shares
Transferor(s) Transferee(s)
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1 November, 2005
100 BILLION WELL
NOMINEES LTD STEELFORCE BVBA
*Directors' Details*
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(1)
Karel F. L. Pannemans
Passport no. :
EF055172
Address :
Rode Dreef 49 Schilde 2970
(2)
Lucien H. J. Smolders
Passport no. :
ED467955
Address : Deurnestraat 158 Mortsel 2640
(3)
Shan-hao Chui
HKID number :
A017455(9)
Address :
Flat B 11Fl Lu
Date of appointment : 15 September, 2006
(4)
Chi-yeung Tso
HKID number : G078875(8)
Address :
Flat F
Date of appointment : 15 September, 2006
*Corporate Secretary*
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PRINZA LTD
CR no. : 0334490
Address : 2001
Date appointed : 15 September, 2005
SC declined to release its management background details at present.
*Main Products & Services*
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Specializes in the trading of various metal products.
Products: Bars
Billets
Blooms
Coated steel
sheets
Coils
*Payment Terms*
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Sales
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Local : Cash or credit
Purchases
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Local : Cash or credit
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Export Markets*
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There is no record of export since the prime focus of the firm's activity
is concentrated on local sales only.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : STEELFORCE FAR EAST LTD - DALIAN REPRESENTATIVE OFFICE
Address : Rm 4511 World Trade Centre
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : STEELFORCE FAR EAST LTD - SHANGHAI REPRESENTATIVE OFFICE
Address : Rm 2406-07
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
*Strategic Partners & Alliances*
=========================
Group name : STEELFORCE
Details : - Headquarters
located in
- In 2006
the group was importing from and exporting to more than 85 countries in Africa,
Asia,
Europe, Middle and the Far East, including
- In 2005
the group achieved sales of EUR 457 million representing a flow of goods of
about 1
million
tons of steel.
PAYMENT RATING : 3 OBTAINED SCORES : 60
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Implication |
Implications |
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1 |
Scores 85100 |
Excellent |
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2 |
Scores 75 84 |
Above Average |
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3 |
Scores 50 74 |
Average |
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4 |
Scores 35 49 |
Fair |
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5 |
Scores 15 34 |
Below Average |
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6 |
Scores 01 14 |
Poor |
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NR |
No Data |
No Data |
The rating
indicates the payment pattern of SC based upon our Payment Database, comments from
suppliers of SC, information from banks (if available), as well as industrial
sources. Dealings on open terms may be
possible for SMALL
amounts depending on individual judgement experience.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with an acceptable base to come
into credit dealings of small amount.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 331207 Steel
Plate/Sheet/Strip
Trading 3317 Steel
Pipe & Tubes
Trading 3339 Primary
nonferrous metals,
Trading 3441 Fabricated
structural metal products,
Trading 3499 Fabricated
metal products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7202995040 Ferroalloys
nesoi
Trading 7206100000 Iron
and nonalloy steel ingots
Trading 7227 Bars
& rods alloy steel nesoi, hot-rolled irreg coils
Trading 7228 Alloy
steel nesoi bars, angles etc; hol dr st bars etc
Trading 7300 Articles
of iron or steel
Trading 7308907000 Steel grating
Trading 7403130000 Billets,
refined copper, unwrought
Trading 8108105060 Blooms,
sheet bars and slabs, titanium
Trading 8108906045 Plates,
sheets, strips and foil, titanium
Trading 8300 Miscellaneous
articles of base metal
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Coils
Trader Plates
Trader Coated steel
sheets
Trader Strips
Trader Wire rods
Trader Billets
Trader Blooms
Trader Slabs
Trader Bars
Trader Nonferrous
zinc
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SCs 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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)