MIRA
INFORM REPORT
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Report Date : |
29.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
EXCELCO CORP |
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Registered Office : |
14FL, 57 Tun Hua South Rd, Section 2 South Dist Taichung
City 402 |
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Country : |
Taiwan |
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Date of Incorporation : |
February 1, 1992 |
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Com. Reg. No.: |
86554606 |
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Legal Form : |
Private |
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Line of Business : |
Importing iron and steel of raw materials. Trading a wide range of ferro alloys products, such as ferro silicon, electrolytic
copper cathode, zinc ingot which are manufactured in China. Exports and domestic of its finished products. |
RATING &
COMMENTS
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MIRA’s 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 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
EXCELCO CORP
14FL, 57 TUN HUA SOUTH RD
SECTION 2 SOUTH DIST TAICHUNG CITY 402, TAIWAN
TEL: 886-4-27041797
FAX: 886-4-27041798
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 1, 1992
REGISTRATION NO. :
86554606
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. SHUN-SHENG TANG (CHAIRMAN)
STAFF STRENGTH :
11
CAPITAL :
US$ 1,508,751
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 50,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.32250 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –Taiwan New Dollars
*Company History*
===============
2003 -
Engaged in establishing its own ferroalloy plant in China to satisfy long-term
customer's increasingly demand and to provide a much better-integrated and
reliable service.
*Office & Facilities*
===============
Size : 59
sq. meters (Approx)
Location : Central
Business District (CBD)
Property status : Owned by
EXCELCO CORP
Type of building : Commercial
building
Previous address : 2-4 Jui Kuang St South Dist Taichung City 402
*Factories, Size & Locations*
======================
The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
===========================
A small sized specialized company operated and managed by the owner.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
Web
site: www.excelco.com.tw the design is
professional and the content is well organized. At present it is in both
Chinese and English versions.
E-mail: exceltwn@ms17.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
================
Shareholders' Name No. of Shares
-------------------------- ----------------
Mr. Jerry Chin-hai Lee 1,596,700
Mr. Kuo-ping Chang 1,596,700
Mr. Shun-sheng Tang 1,526,600
Mrs. Jen-mei Chang Liu 70,000
Management: Mr. Jerry Chin-hai
Lee, Manager
Mr. Jerry K. Lee, Manager
Mr. Jeff Chang, Representative
Name Nationality
Job Description Dept. / Division
Mr. Jerry Chin-hai Lee Taiwanese
Manager Sales
Mr. Jerry K. Lee Taiwanese
Manager Sales
Mr. Jeff Chang Taiwanese
Representative -
Mrs. Jen-mei Chang Liu Taiwanese Supervisor -
*Key Personnel*
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(1)
Mr. Shun-sheng Tang
Resident status : Taiwan
Founder :
Co-Founder
Work experience : More than 15 years
Responsibilities : Daily
operation of the firm including all financial and legal matters.
(2)
Mr. Jeff Chang
E-mail :
jeffchang@excelco.com.tw
(3)
Mr. Jerry Chin-hai Lee
E-mail :
jerrylee@excelco.com.tw
*Main Products & Services*
=====================
Specializing in the following main areas of work:
1. Importing iron and steel of raw materials.
2. Trading a wide range of ferro alloys products, such as ferro silicon,
electrolytic copper cathode, zinc ingot which are manufactured in China.
3. Exports and domestic of its finished products.
Products: Base metals
Bulk ferro alloys
Copper
cathodes
Copper
concentrates
Electrolytic copper
cathode
*Brand*
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DECORPLUS
EXCELCO
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A) Telegraphic Transfer (T/T)
Purchases
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Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A) Telegraphic Transfer (T/T)
Open account /DA terms with settlement
using Telegraphic Transfer (T/T)
*Competitors*
===========
The following locally based companies supply similar range of products :
- CHANG YEH METAL INDUSTRY CO LTD
- LIANG JYI STEEL CORP
- SOUTHERN PAPER CORP, THE
- CAMELLIA METAL CO LTD
- WEL-HUNT DEVELOPING ENTERPRISE CO LTD
*Industry Ranking*
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Generally regarded as one of the Top 5000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------- ---------
2006 3754
*Domestic Customers*
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Most of domestic customers are factories which are manufacturing steel
products, including stainless steel sheet and cold forming checker plate.
*Local Distribution Network*
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An estimated 94% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 6% of the annual
turnover is attributed to export.
*Overseas Suppliers*
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Major overseas suppliers include:
(1)
Country :
Norway
Supplier's Name : TINFOS AS
Products/Materials : Ferroalloys
(2)
Country : USA
Supplier's Name :
FREEPORT-MCMORAN COPPER & GOLD INC
Products/Materials : Copper
(3)
Country :
Switzerland
Supplier's Name : TRAFIGURA
BEHEER BV
Products/Materials : Metal articles
(4)
Country :
Sweden
Supplier's Name : SONACO
TRADING AB
Products/Materials : Bulk ferro alloys
*International Trade Ranking*
======================
The firm has been ranked among Taiwan's Top Importers/Exporters based on
the standard measured by the Board of Foreign Trade (BOFT)
Details of rank are as follows :
Year Rank
------ --------
2003 2326
2004 1604
2005 2155
2006 2300
*Subsidiaries, Joint-ventures & Affiliates*
==============================
EXCELCO CORP is understood to maintain an "affiliate factory"
in China.
The location of the factory was supplied as Guangxi, China, but without
any detailed address, or contact details.
Since the firm was unwilling to disclose name and contact details of
their "affiliate factory" in China, it is assumed that this factory
is owned by third parties to whom orders are out-sourced.
PAYMENT
RATING : 3 OBTAINED SCORES :
56
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Implication |
Implications |
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1 |
Scores 85–100 |
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 with a paid-up capital of less than USD 6
million, there is no legal requirement according to local corporate law for public
disclosure of detailed financials.
Although, financial summaries were obtained for reference.
Additionally, because the firm is focusing on transshipment orders from
China via Taiwan, the company is essentially just a administrative "shelf
company" used for the firm's business activities in China.
Hence financials for the company do not reflect those business
activities in China.
*Bank Details*
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Bank Name : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist, Taipei City
Branch Address : 10Fl, 30 Chungking South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : FCBKTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist, Taipei City
Branch Address : 123 Jhongsiao E Rd Section 2 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : ICBCTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2006 $10,761,789.60 $952,237.00 $244,860.94
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
1996 $5,700,000.00 $0.00 $5,700,000.00
1997 $8,000,000.00 $0.00 $8,000,000.00
1998 $5,600,000.00 $1,000,000.00 $6,600,000.00
2004 $17,241,044.00 $4,115,311.01 $21,356,355.01
2005 $11,395,761.01 $4,310,675.99 $15,706,437.00
2006 $9,000,000.00 $500,000.00 $9,500,000.00
SC is considered small-sized in its line with a development history of
15 years. A credit line up to USD 50,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 1031 Lead
and zinc ores
Importing 1061 Ferroalloy
ores, except vanadium
Trading 1031 Lead and
zinc ores
Trading 1061 Ferroalloy
ores, except vanadium
Trading 3499 Fabricated
metal products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8104 Magnesium
& articles thereof, incl waste & scrap
Importing 7202 Ferroalloys
Importing 7202300000 Ferrosilicon manganese
Importing 7224100005 Ingots and other primary forms of high-nickel alloy steel
Importing 7403110000 Refined copper cathodes and sections of cathodes
Importing 7800 Lead
& articles thereof
Trading 2607 Lead
ores and concentrates
Trading 2608 Zinc
ores and concentrates
Trading 7202 Ferroalloys
Trading 7202210000 Ferrosilicon
with over 55 percent silicon
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Zinc
ingots
Trader Magnesium
ingots
Trader Copper
cathodes
Trader Lead
ingots
Trader Ferro
silicon
Trader Ferro
manganese
Trader Ferro
chrome
Trader Electrolytic
copper cathode
Trader Tin ingot
Trader Zinc
concentrate
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to North America
Exporting to USA
Importing from Asia
Importing from China
Importing from Europe
Importing from North America
Importing from Norway
Importing from Sweden
Importing from Switzerland
Importing from USA
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 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 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%)