MIRA
INFORM REPORT
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Report Date : |
06.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
HER CHUEN STAINLESS STEEL CO LTD |
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Registered Office : |
169 Chunglun Chungsha Tsun Anting, Hsiang Tainan Hsien 745 |
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Country : |
Taiwan |
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Date of Incorporation : |
January 26, 1998 |
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Com. Reg. No.: |
16374124 |
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Legal Form : |
Private |
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Line of Business : |
Domestic purchases of a wide range of stainless steel related raw
materials. Manufacturing and value-added processing of stainless steel. Exports and local 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 : |
Up To USD 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
HER CHUEN STAINLESS STEEL CO LTD
169 CHUNGLUN CHUNGSHA TSUN ANTING
HSIANG TAINAN HSIEN 745, TAIWAN
TEL : 886-6-5939969
FAX : 886-6-5939737
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 26, 1998
REGISTRATION NO. :
16374124
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. SHU-CHEN LIN (CHAIRMAN)
STAFF STRENGTH :
35
CAPITAL :
US$ 1,508,751
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 50,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.35950 = 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
*Licenses & Permits*
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License number : 99658242
Date issued : 7 March,
1987
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
License
*Office & Facilities*
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Size :
921 sq meters (Approx)
Location :
Tainan Hsien
Property status : Rented
Type of building :
Industrial
Comments : Serves
as office and factory
Other e-mail address : hertsuen@yahoo.com.tw
Previous Contact Details
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(1)
Address : 1Fl, 53
Cheng Nan 2nd St Tainan Hsien 710 Taiwan
Tel No. :
6-2426119
Fax No. :
6-2426559
(2)
Address : 10,
Lane 190, Cheng Nan 1st St Tainan Hsien 710 Taiwan
Tel No. :
6-2754080
Fax No. :
6-2754080
*Corporate & Organization Structure*
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A small-sized company mainly operated and managed by the owner of the
firm.
*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.
www.herchuen.com.tw the design is
professional and the content is well organized. At present it is both in Chinese
and English versions.
E-mail: service@herchuen.com.tw
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. Kuo-yen Lin 3,000,000
Ms. Shu-chen Lin
2,100,000
Mr. Kuo-pao Lin
2,000,000
Ms. Fu-mei Wang
250,000
Management: Mr. Chia-yi Huang,
Manager
Mr. Kuo-pao Lin, Manager
Ms. Sylvia Mei-ching Shih, Manager
Name Nationality
Job Description Dept. / Division
Mr. Chia-yi Huang Taiwanese
Manager Sales
Mr. Kuo-pao Lin Taiwanese
Manager Sales
Ms. Sylvia Mei-ching Shih Taiwanese
Manager Sales
Mr. Kuo-yen Lin Taiwanese
General Manager -
*Key Personnel*
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(1)
Ms. Shu-chen Lin
Founder :
Co-Founder
Work experience : More
than 5 years
Responsibilities : Daily
operation of the firm including all financial and legal matters.
Resident status : Taiwan
(2)
Ms. Sylvia Mei-ching Shih
Email
: mei-sylvia@hotmail.com
*Main Products & Services*
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Specializes in the following areas of work :
1. Domestic purchases of a wide range of stainless steel related raw materials.
2. Manufacturing and value-added processing of stainless steel.
3. Exports and local sales of its products.
Products: Coil, bars
Stainless steel
coils
Stainless steel
products
Stainless steel
sheets
*Payment Terms*
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Sales
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Local : 30-90 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)
*Machinery & Equipment*
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Machinery/ Equipment include:
- NC Steel Coil Leveler & Shearing Line
- 200 m/m steel mill finish line equipment
- YSM-100 model 650m/m Slitting Line
- Roller
- 650m/m dividing machine (1)
- 400m/m dividing machine (2)
- 650m/m fast cutting machine of computers (1)
- Fast cutting machine of 1.33 meters of computers (1)
- Type 200 calender (2)
- Whole flat machine of tension of type 200 (1)
*Competitors*
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The following locally based companies supply similar range of products:
-TRUEMARK INDUSTRIAL CORP
-YEUN CHYANG INDUSTRIAL CO LTD
-CHING HAI ENTERPRISE CO LTD
-JAN METAL INDUSTRY CO LTD
-YIEH MAU CORP
*Local Distribution Network*
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Approximately 75% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 25% of the annual turnover is attributed to export.
Note: In 2006, the firm did not export, and sold exclusively to the
local market.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 50
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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.
*Bank Details*
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Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist, Taipei City
Branch Address : 77 Kuan Chien Rd Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code : TACBTWTP
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $0.00 $130,000.00 $130,000.00
2006 $0.00 $0.00 $0.00
SC is considered small-sized in its line with a development history of 9
years. Taking into consideration of SC’s general performance, 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
Manufacturing 331207 Steel
Plate/Sheet/Strip
Manufacturing 3325 Steel
Foundries, NEC
Trading 331207 Steel
Plate/Sheet/Strip
Trading 3325 Steel
Foundries, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Manufacturing 7218 Stainless
steel in ingots etc & semifin products
Manufacturing 721810 Stainless
steel ingots and other primary forms
Manufacturing 721890 Other
semi-finished products of stainless steel
Manufacturing 7222 Bars
& rods, st steel; angles etc, stainless steel
Manufacturing 7326 Articles
of iron or steel
Trading 7218 Stainless
steel in ingots etc & semifin products
Trading 721810 Stainless
steel ingots and other primary forms
Trading 721890 Other
semi-finished products of stainless steel
Trading 7222 Bars
& rods, st steel; angles etc, stainless steel
Trading 7326 Articles
of iron or steel
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Stainless
steel coils
Trader Stainless
steel products
Trader Stainless
steel sheets
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%)