MIRA
INFORM REPORT
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Report Date : |
20.10.2007 |
IDENTIFICATION DETAILS
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Name : |
SHIE CHENG STEEL CO LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
July 26, 2002 |
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Com. Reg. No.: |
80218563 |
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Legal Form : |
Private |
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Line of Business : |
Importing and domestic purchasing wide range of stainless steel
products. Domestic sales of its imported and locally purchased stainless
steel. |
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. |
Small |
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Maximum Credit Limit : |
Up To USD 15,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NAME & ADDRESS
SHIE CHENG STEEL CO LTD
TEL : 886-4-23862250
FAX : 886-4-23862246
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 26, 2002
REGISTRATION NO. :
80218563
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. HUANG-CHANG LAI (CHAIRMAN)
STAFF STRENGTH :
17
CAPITAL :
US$ 1,508,751
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.59050 = 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 –
*Office & Facilities*
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Size : 170 sq.
meters (Approx.)
Location :
Property status : Rented
Type of building :
Residential
*Corporate & Organization Structure*
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A small-sized company mainly operated and managed by the owner of the
firm.
*Factories, Size & Locations*
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The company is a trading house focused on importation of overseas
materials, and maintains no manufacturing facilities.
*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.
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name
% of Shares
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Huang-chang Lai 99.00
Undisclosed Shareholder 1.00
Management : Mr. Huang-chang Lai, Manager
Name Nationality
Job Description Dept. / Division
Mr. Huang-chang Lai Taiwanese Manager Sales
*Key Personnel*
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Huang-chang Lai
Founder : Sole
Founder
Work experience : More than 5
years.
Responsibility : Daily
operation of the firm including all financial and legal matters.
*Main Products & Services*
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Specializes in the following areas of work:
1. Importing and domestic purchasing wide range of stainless steel
products.
2. Domestic sales of its imported and locally purchased stainless
steel.
Products: Iron products
Metal raw
materials
Stainless Steel
Wire
Stainless steel, hot
rolled
Steel bars
*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)
Open Account (D/A)
with settlement using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based firms supply similar range of products:
- KEVIN STEEL CORP
- MAXTEK GO-GO CO LTD
- CHIA FAR INDUSTRIAL FACTORY CO LTD
- GRUNDFOS TAIWAN MFG CO LTD
- DA-SONG ENTERPRISE CO LTD
- LI PANG ENTERPRISES CO LTD
*Domestic Customers*
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Selling on a wholesaler basis to local SME factories and value added
steel processes.
*Local Distribution Network*
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Approximately 95% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 5% of the annual turnover is attributed to export.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : SHIE CHENG STEEL CO LTD
Branch Address : 17-2 Wan
Branch Tel : [+886] 7-3535142
Branch Fax : [+886] 7-3535274
Branch Employees : 6
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : JIA CHARG CO LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : JIA CHENG STEEL CO LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
PAYMENT RATING : 3 OBTAINED SCORES : 51
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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 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: CHINATRUST COMMERCIAL BANK LTD
Global Identifier: 31551601
Branch: Hsin-i Dist,
Branch Address: 14Fl
SWIFT Code: CTCBTWTP
Bank Name : FIRST COMMERCIAL BANK CO LTD
Global Identifier : 31535094
Branch : Chungcheng Dist,
Branch Address : 10Fl,
SWIFT Code : FCBKTWTP
Financial Summary (Currency:
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Year Sales Assets Net Income
2006 $607,617.90 $259,975.82 $93,712.21
Int´l Trade Activity (Currency:
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Year Imports Exports Total
2005 $49,000.00 $0.00 $49,000.00
2006 $512,000.00 $73,000.00 $585,000.00
SC is considered small-sized in its line with a five years development
history. It is considered a credit line up to USD 15,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3321 Cast
iron products, not malleable
Importing 3325 Steel
Foundries, NEC
Importing 3399 Primary
metal products,
Importing 3400 Fabricated
Metal Products
Importing 3499 Fabricated
metal products,
Importing 3999 Manufactured
articles,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 721890 Other
semi-finished products of stainless steel
Importing 7222110000 Other
bars and rods of stainless steel, hot-rolled, circular cross-section
Importing 7223 Wire
of stainless steel
Importing 7228 Alloy
steel bars, angles etc; hol dr st bars etc
Importing 9600 Miscellaneous
manufactured articles
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Iron
products
Importer Stainless Steel
Wire
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
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. |
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%)