MIRA
INFORM REPORT
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Report Date : |
14.06.2007 |
IDENTIFICATION DETAILS
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Name : |
NEW SITE INDUSTRIES INC |
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Registered Office : |
16 Fl, |
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Country : |
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Date of Incorporation : |
09.07.2002 |
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Com. Reg. No.: |
13137009 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Specializes in trading of yarn, rayon and other related textile materials for industrial and textile manufactures under the brand name NS. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
NEW SITE INDUSTRIES INC
16FL,
TEL: 886-2-87809109 FAX: 886-2-87809107
EXECUTIVE SUMMARY
INCORPORATION DATE : JULY 9, 2002
REGISTRATION NO. : 13137009
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE : MR. YEN-TING
STAFF STRENGTH : 15
CAPITAL :
US$ 3,914,484
BUSINESS LINE : TRADER
TURNOVER : N/A
(AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD33.16797 =
US$1 AS OF 2007-6-14
Company Registration
License number : 13137009
Date issued : 9 July, 2002
Issuing authority : Ministry of Economic Affairs (MOEA)
Office & Facilities
Size : 165 sq. meters (Approx.)
Location :
Property status : Owned by NEW SITE INDUSTRIES INC
Type of building : Industrial building
Factories, Size & Locations
The company is a trading house focused on importation of overseas products, and maintains no manufacturing facilities.
Corporate & Organization Structure
A medium-sized company operated and managed by the owner and a professional management team.
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.hipage.hinet.net/new-site
The design is professional and the content is well organized. At present
it is in Chinese version.
E-mail: newsite9@ms75.hinet.net
For the past two years there is no record of litigation.
Major Shareholders
Shareholders' Name % of Shares
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Mr. Yen-ting Chu 99.00
Undisclosed Shareholders 1.00
Management: Ms. Ann Chin-yen Lee, Manager
Mr. Yen-ting Chu, General Manager
Name Nationality Job Description Dept. / Division
Ms. Ann Chin-yen Lee Taiwanese Manager Sales
Mr. Yen-ting Chu Taiwanese General Manager -
Key Personnel
Mr. Yen-ting Chu
Founder : Sole Founder
Resident status :
Work experience : More than 5 years
Responsibilities : Handles the daily operation of the firm including all financial and legal matters.
Main Products & Services
Specializes in trading of yarn, rayon and other related textile materials for industrial and textile manufactures under the brand name NS.
Products also include :
Polyester high tenacity filament yarn
N-6 high tenacity filament yarn
N-66 high tenacity filament yarn
Products:
Plastic scraps
Single monofilament
Single yarns
Synthetic filament
Synthetic staple fibers
Payment Terms
Sales
Local : 30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
Local : 30-90 days credit
Imports : Letter of Credit (L/C)
Document against Acceptance (D/A)
Telegraphic Transfer (T/T)
Competitors
The following .locally based companies supply similar range of products :
HAO JEY CO LTD
TAINAN SPINNING CO LTD
TY FASHION INT'L CO LTD
WONDERWAY ENTERPRISES LTD
SHINKONG SPINNING CO LTD
Local Distribution Network
10% annual turnover is attributed to local sales.
Export Markets
90% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at present.
PAYMENT RATING :3 OBTAINED SCORES : 54
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Rating Key |
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.
Bank Details
Bank Name : CHINATRUST COMMERCIAL BANK LTD
Branch :
Hsin-i Dist,
Branch Address :
14Fl
SWIFT Code : CTCBTWTP
Bank Name : TAIWAN BUSINESS BANK
Branch :
Tatung Dist,
Branch Address :
SWIFT Code : MBBTTWTP
As a private limited company with a paid-up capital of less
than USD 6 million, there is no legal requirement according to
Int´l Trade Activity (Currency:
Year Imports Exports Total
2004 $8,200,000.00 $4,200,000.00 $12,400,000.00
2005 $13,107,692.01 $937,800.79 $14,045,492.80
2006 $17,484,144.01 $16,610,934.01 $34,095,078.02
SC is considered small-sized in its line with stable development trend. A credit line up to USD 100,000 would appear to be within SC’s capacities.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2211
Broad woven fabrics,
cotton
Exporting 2296
Tire cord and fabric
Exporting 5093
Scrap & Waste
Materials
Exporting 9100
Scrap and waste
Trading 2281
Yarn, spun, of cotton,
man-made fibers, and silk
Trading 2282
Yarn Mills
Trading 2299
Textile goods,
Trading 2300
Apparel/Other Textile
Products
Trading 2394
Tarpaulins, tents,
awnings, sails, and other made-up canvas goods
Trading 2399
Fabricated textile
products,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3907910000
Other polyesters, unsaturated
Exporting 3907990000
Other polyesters, saturated
Exporting 3915
Waste, parings and scrap,
of plastics
Exporting 3915900000
Waste, parings and scrap, of
plastics, nesoi
Exporting 5402410010
Synthetic filament yarn (other than
sewing thread): mulitfilament, untwisted or twisted less than 5 turns per
meter, of nylon, partially oriented
Exporting 5402420000
Other yarns, untwisted or twisted,
less than or equal to 50 turns per meter, of polyesters, partially oriented,
not put up for retail sale
Exporting 5402430020
Single monofilament mulitfilament,
untwisted or twisted, less than 5 turns per meter, of polyesters, not put up
for retail sale
Exporting 5402520000
Synthetic filament yarn: single
other twisted yarns, of polyester filament, greater than 50 turns per meter,
not put up for retail sale
Exporting 5402610000
Synthetic filament yarn: (other than
sewing thread): multiple, folded, or cabled other yarns, of nylon or other polyamides,
not put up for retail sale
Exporting 5402690000
Synthetic filament yarn: (other than
sewing thread): multiple, folded, or cabled other yarns, of other synthetic
filament, not put up for retail sale
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Exporting Woven
fabrics, filament yarn
Exporting Tire
cord fabrics
Exporting Synthetic
fiber waste
Importing Cotton
wastes
Trading Acrylic
Trading Tire
cord fabrics
Trading Tarpaulin
Trading Synthetic
filament yarn
Trading Belting
ducks
Trading Rayon
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
Importing from
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/normal. |
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%)