MIRA
INFORM REPORT
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Report Date : |
27th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
STEEL ONE CO LTD |
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Registered Office : |
1fl, 172-20 Hai Pin Rd, Chingshui Chen Taichung Hsien 436, Taiwan |
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Country : |
Taiwan |
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Date of Incorporation : |
05.05.1999 |
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Com. Reg. No.: |
16909730 |
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Legal Form : |
Private |
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Line of Business : |
Engaged in manufacturing and exporting of recycle
machines. |
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/normal. |
Small |
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Maximum Credit Limit : |
USD 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Moderate |
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Litigation : |
Clear |
Company Name & Address
STEEL ONE CO LTD
1FL, 172-20 HAI PIN RD, CHINGSHUI CHEN TAICHUNG HSIEN 436, TAIWAN
TEL : 886-4-26261765
FAX : 886-4-26266925
EXECUTIVE SUMMARY
INCORPORATION DATE : May 5, 1999
REGISTRATION NO. : 16909730
LEGAL FORM : Private
CHIEF EXECUTIVE : Mr. Tsung-chih Tsai
(CHAIRMAN)
STAFF STRENGTH : 15
CAPITAL : US$ 153,139
BUSINESS LINE : Manufacturer
TURNOVER : N/A (AS OF DEC. 31, 2005)
EQUITIES : N/A (AS OF DEC. 31, 2005)
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : USD 5,000
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : TWD 32.93987 = US$1 AS OF
2007-02-27
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 Registration*
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License number : 16909730
Date issued
: 5 May, 1999
Issuing authority :
Ministry of Economic Affairs (MOEA)
*Trading Name*
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Although the company is legally registered by the name listed above, it is commonly known as BOWTEX CO LTD under which it operates locally.
*Office & Facilities*
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Size
: 101 sq meters
Location
: Taichung Hsien
Property status : Rented
Type of building : Commercial Building
Comment : Serves as office and warehouse.
Other tel no. : 4-26264765
*Corporate & Organization Structure*
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A small-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.
SC is not known to host website of its own at present.
E-mail: dtstw581@ms48.hinet.net
For the past eight years there is no record of litigation.
*Major Shareholders*
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Shareholder's Name % of Shares
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Mr. Tsung-chih Tsai 99.00
Undisclosed Shareholder 1.00
Management : Mr. Tsung-chih Tsai, General Manager
Name
Nationality
Job Description
Mr. Tsung-chih Tsai Taiwanese General Manager
*Key Personnel*
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Mr. Tsung-chih Tsai
Founder
: Sole Founder
Work experience
: More than 5 years
Responsibilities
:
Handles the daily operation of the firm including all financials and legal
matters.
Resident status
: Taiwan
*Main Products & Services*
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Specializes in manufacturing and exporting of recycle
machines.
Products: Recycled
machineries
Recycling machines
Recycled machineries
Recycling machines
*Payment Terms*
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Sales
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Local : Cash
30-90
days credit
Export : Letter of
Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : Cash 30-90
days credit
*Local Distribution Network*
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10% of the annual turnover is attributed to local
sales.
*Export Markets*
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90% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT
RATING :4 OBTAINED SCORES :
45
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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 Taiwan corporate
law for public disclosure of detailed financials.
*Int´l Trade Activity (Currency: U.S. $'s)
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Year
Imports
Exports
Total
2003
$50,000.00 $600,000.00 $650,000.00
2004
$50,000.00
$800,000.00
$850,000.00
2005
$50,000.00
$600,000.00
$650,000.00
Over the past 8 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 5,000
appears to be within SC’s capacities.
ATTACHED: TRADE REFERENCES
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 3569 General industrial machinery
and equipment, and parts,
Exporting 5084 Industrial Machinery/Equip
Manufacturing 3569 General industrial machinery and equipment, and
parts,
Manufacturing 5084 Industrial Machinery/Equip
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting
8479 Machines
etc having individual functions, parts
Manufacturing 8479 Machines etc having individual functions, parts
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to Indonesia
Exporting to Malaysia
Exporting to Thailand
Exporting to Vietnam
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%)
PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions