MIRA
INFORM REPORT
|
Report Date : |
02.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ACHATES STEEL ENTERPRISE CO LTD |
|
|
|
|
Registered Office : |
2FL, 10 Wen Hua 6th St East Dist Tainan City 701 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
November 4, 2003 |
|
|
|
|
Com. Reg. No.: |
80581417 |
|
|
|
|
Legal Form : |
Private |
|
|
|
|
Line of Business : |
Importing and local purchasing of steel coils, steel sheets, and
related to products. Exporting to international markets and selling a small percentage of
good to local market. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
Up To USD 20,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name & address
ACHATES STEEL ENTERPRISE CO LTD
2FL, 10 WEN HUA 6TH ST EAST DIST TAINAN CITY 701, TAIWAN
TEL : 886-6-2683706
FAX : 886-6-2681569
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 4, 2003
REGISTRATION NO. :
80581417
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. KIM SU-PING WANG (CHAIRMAN)
STAFF STRENGTH :
4
CAPITAL :
US$ 256,488
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 20,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.41550 = 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
Office & Facilities*
===============
Size : 223 sq.
meters (Approx.)
Location : Tainan
City
Property status : Owned by
ACHATES STEEL ENTERPRISE CO LTD.
Type of building : Retail outlet
in a semi-residential building
Other Contact Details
-----------------------------
Mobile no: 886-910828457
E-mail :
achates.steel@msa.hinet.net
*Factories, Size & Locations*
======================
The company is a trading house focused on exports of overseas products,
and maintains no manufacturing facilities.
*Corporate & Organization Structure*
=============================
A small-sized company operated and managed by the owner and an
experienced team of professionals.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
www.achates.diytrade.com the design
is professional and the content is well organized. At present it is both in Chinese
and English versions.
E-mail: achates.ent@msa.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
================
Shareholders' Name % of Shares
--------------------------- ----------------
Ms. Kim Su-ping Wang 99.00
Undisclosed Shareholder 1.00
Management: Mr. Dawn Mei-wen Chen, General Manager
Name Nationality
Job Description
Mr. Dawn Mei-wen Chen Taiwanese
General Manager
*Key Personnel*
=============
Ms. Kim Su-ping Wang
Founder : Sole
Founder
Resident status : Taiwan
Work experience : More than 3
years experience.
Responsibilities : Handles the
daily operation of the firm including all financials, sales and legal matters.
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Importing and local purchasing of steel coils, steel sheets, and
related to products.
2. Exporting to international markets and selling a small percentage of
good to local market.
Products also include the following:
- Hot-dipped galvanized steel coils
- Hot-dipped galvanized steel sheets
- Pre-painted galvanized steel coils
- Pre-painted galvanized steel sheets
- Electro-galvanized steel sheets
- Hot-dipped 55% galvalume coated steel
- Hot-dipped 5% galfan coated steel
Products: Coils
Cold rolled steel
coils
Cold rolled steel
sheets
Electro-galvanized
steel coils
Flat-rolled
iron
*Payment Terms*
==============
Sales
-------
Local : Cash
30 - 90 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
--------------
Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
*Competitors*
===========
The following locally based companies supply similar range of products:
- YU-DIN STEEL CO LTD
- TRADO INDUSTRIAL CO LTD
- YODOKO INT'L LTD
- CHI-FU STEEL & IRON CO LTD
- NATIONAL ENTERPRISE CO LTD
*Local Distribution Network*
=======================
Approximately 10% of the annual turnover is attributed to local
sales.
*Export Markets*
=============
Approximately 90% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 52
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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 summary were obtained for reference.
*BANK DETAILS*
===============
Bank Name : BANK OF TAIWAN
Global Identifier : 31534064
Branch : Chungcheng Dist, Taipei City
Branch Address : 120 Chung Ching South Rd Section 1 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : BKTWTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Global Identifier : 31537717
Branch : Chungcheng Dist, Taipei City
Branch Address : 123 Jhongsiao E Rd Section 2 Chungcheng Dist Taipei
City 100 (Head Office)
SWIFT Code : ICBCTWTP
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2004 n/a $1,065,794.98
$1,065,794.98
2005 $394,515.99 $3,498,561.01 $3,893,077.00
2006 $215,973.97 $846,320.98 $1,062,294.95
*Financial Summary (Currency: U.S. $'s)
=============================
Year Sales Net Income
2006 $943,168.08 $32,043.53
SC is considered small-sized in its line with a short history. A credit line
up to USD 20,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3316 Cold-Rolled
Steel Products
Trading 3325 Steel
Foundries, NEC
Trading 3356 Extruded
nonferrous metal mill products, rolled or drawn
Trading 3499 Fabricated
metal products,
Trading 3677 Electronic
coils and transformers
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7208 Flat-roll
iron & na steel n/un600mm wd hot-rl, not clad
Trading 7208520000 Flat-rolled
iron or nonalloy steel, 600mm or more wide, hot-rolled, not clad, plated
or
coated, not coiled, 4.75mm to 10mm thick
Trading 7209 Flat-roll
iron & na steel n/un600mm wd cold-rl, no clad
Trading 7209160010 Flat-rolled
hi-strength steel, 600 mm wide or more, cold-rolled, not clad, etc, in
coils,
thickness over 1mm, less than 3mm
Trading 7209170050 Flat-rolld
iron or nonalloy steel coils 600mm or more wide cold-rlld not clad, pntd
or
coatd, 0.5mm or more but not over 1mm thick, not hi-strength
Trading 7209170060 Flat-rolld
high-strength iron or nonalloy steel coils 600mm or more wide cold-rolld
not
clad, pntd or coatd, 0.5mm but not over 1mm thick not annealed
Trading 7210 Flat-roll
iron & na steel n/un600mm wd, clad etc
Trading 7210490000 Flat-rolled
iron or nonalloy steel plated or coated with zinc (nt electrolytically), not
corrugated,
600mm wide or more
Trading 7221 Bars
and rods, stainless steel, hot-rolled, irreg coils
Trading 7227 Bars
& rods alloy steel, hot-rolled irreg coils
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Flat-rolled
iron
Trader Steel
coils
Trader Steel
sheets
Trader Electro-galvanized
steel coils
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Asia
Exporting to India
Exporting to Pakistan
Exporting to Sri Lanka
Exporting to Vietnam
Importing from Asia
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)