MIRA
INFORM REPORT
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Report Date : |
18.06.2007 |
IDENTIFICATION DETAILS
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Name : |
LIH CHAN STEEL CO LTD |
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Registered Office : |
8 Fl -2, |
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Country : |
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Date of Incorporation : |
26.11.1986 |
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Com. Reg. No.: |
22335986 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of raw materials used for in-house production of stainless steel tubes and materials. Manufacturing of stainless steel tubes and materials. Export and domestic sales of its products. |
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 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
LIH CHAN STEEL CO LTD
8FL-2,
TEL:886-2-27457558
FAX:886-2-28723634
EXECUTIVE SUMMARY
INCORPORATION DATE : NOVEMBER 26, 1986
REGISTRATION NO. : 22335986
LEGAL FORM : PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE : MR. LIANG-CHUNG CHANG (CHAIRMAN)
STAFF STRENGTH : 34
CAPITAL : US$ 1,806,685
BUSINESS LINE : MANUFACTURER
TURNOVER : US$8,412,938.33 (AS OF DEC. 31, 2006)
EQUITIES : N/A (AS OF DEC. 31, 2006)
PAYMENT : AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD 33.13312 = US$1 AS OF 2007-6-18
*Company Registration*
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License number : 22335986
Date issued : 26 November, 1986
Issuing authority : Ministry of Economic Affairs (MOEA)
*Licenses & Permits*
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License number : 9962190700
Date issued : 7 April, 1988
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Size : 104 sq meters (Apporx.)
Location :
Property status : Rented
Type of building : Commercial building
Comments : Premises is shared with WEN SHAN CONSTRUCTION CO LTD
Previous Contact Details
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Address :
2Fl,
Tel No : 2-25948175
Fax No : 2-25914625
Note: We were unable to find any reference of the supplied address on any local. The above address as reflected on our report was confirmed to be its current registered/operating address.
*Factories, Size & Locations*
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Size : 3089 sq. meters (Approx)
Location : Taoyuan Hsien
Facilities : Modern
Type of building : Industrial building
Property status : Owned by LIH CHAN STEEL CO LTD
*Corporate & Organization Structure*
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A medium sized company mainly operated and managed by the owner.
*Reputation*
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Reference checking for the purpose of establishing the firm's reputation within the respective industry failed to reveal any negative information.
E-mail: lihchan.steel@msa.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No of Shares
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Mr. Meng-chin Hsu 5,982
Mr. Liang-chung Chang 3,000
Mrs. Hsiu-chih Chang Chan 1,950
Ms. Hsiu-hsia Ko 1,170
*Key Personnel*
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Mr. Liang-chung Chang
Founder : Co-founder
Work experience : More than 15 years
Responsibilities : Daily operation of the firm including all financial and legal matters.
Resident status :
*Main Products & Services*
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Specializes in the following areas of work :
1. Importing of raw materials used for in-house production of stainless steel tubes and materials.
2. Manufacturing of stainless steel tubes and materials.
3. Export and domestic sales of its products.
Products: Flat-rolled stainless steel
Pipe fittings
Steel pipes
Steel tubes
Stainless steel tubes
*Payment Terms*
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Sales
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Local : 30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products:
- FROCH ENTERPRISE CO LTD
- EVER LASTING STAINLESS STEEL INDUSTRIAL CO LTD
- TUNG SHAN PEN CORP
- TA CHUNG METAL PRODUCTS CO LTD
- UNIKO METAL FLEX & JOINT CO LTD
*Local Distribution Network*
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25% of the annual turnover is attributed to local sales mostly to value-added metal processors and wholesale distributors.
*Export Markets*
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75% of the annual turnover is attributed to export.
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : TSIN YING METAL INDUSTRY CO LTD
Address :
2Fl,
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry :
Metals & Metal Products
PAYMENT RATING :3 OBTAINED SCORES : 65
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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 MODERATE 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
Although financial summary were obtained for reference.
*BANK DETAILS*
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Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch :
Chungcheng Dist,
Branch Address :
SWIFT Code : HNBKTWTP
Financial Summary (Currency:
=============================
Year Sales Assets Net Income
2006 $8,412,938.33 $1,632,406.29 $220,677.15
*Int´l Trade
Activity (Currency:
==============================
Year Imports
Exports Total
2004 $850,000.00
$4,500,000.00
$5,350,000.00
2005 $650,000.00
$5,400,000.00
$6,050,000.00
2006 $1,200,000.00
$5,500,000.00
$6,700,000.00
Over the past 21 years, SC has made a stable growth with satisfactory profit. It is considered a credit line up to USD 200,000 appears to be within SC’s capacities.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting 3317
Steel Pipe & Tubes
Exporting 3498
Fabricated Pipe/Fittings
Manufacturing 3317 Steel Pipe & Tubes
Manufacturing 3498 Fabricated Pipe/Fittings
Manufacturing 3499 Fabricated
metal products,
Trading 3499
Fabricated metal products,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service
Description
Exporting 721933
Flat rolled products of stainless steel
of a width of 600mm or more; cold-
rolled;
of a thickness exceeding 1mm but less than 3mm
Exporting 721935
Flat rolled products of stainless steel
of a width of 600mm or more; cold-
rolled;
of a thickness of less than 0.5mm
Exporting 7222300000
Other bars and rods stainless steel
further worked than cold- formed or cold-
finished)
Exporting 7222400000
Angles, shapes and sections of
stainless steel
Exporting 7306401000
Other tubes, pipes and hollow
profiles, welded, circular crs sec, of stainless steel,
having
a wall thickness of less than 1.65 mm
Importing 721913
Flat rolled products of stainless steel
of a width of 600mm or more; hot-rolled in
coils;
of a thickness of 3mm or more but not exceeding 4.75mm
Importing 7223000000
Wire of stainless steel
Importing 8479899599
Machines and mechanical appliances
having individual functions, not specified or
included
elsewhere in chapter 84
Manufacturing 7307290000
Stainless steel tube or pipe
fittings
Trading 721934
Flat rolled products of stainless steel
of a width of 600mm or more; cold-rolled; of
a
thickness of 0.5mm or more but less than 1mm
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturing Flat-rolled
stainless steel
Manufacturing Steel
tubes
Manufacturing Steel
pipes
Manufacturing Stainless
steel tubes
Manufacturing Pipe
fittings
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
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
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%)