MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
WORLD STEEL INT'L CO LTD |
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Registered Office : |
9FL - 2, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
February 27, 2006 |
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Com. Reg. No.: |
27705902 |
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Legal Form : |
Private |
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Line of Business : |
Local sourcing and purchasing of steel coil and related steel
materials. Export of locally purchased steel materials. |
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 10,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name &
address
WORLD STEEL INT'L CO LTD
9FL-2,
TEL : [+886] 7-3236215
FAX : [+886] 7-3236214
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 27, 2006
REGISTRATION NO. :
27705902
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MS. MICHELLE HSUEH-FEN LIU (CHAIRMAN)
STAFF STRENGTH :
3
CAPITAL :
US$ 181,269
BUSINESS LINE :
EXPORTER
TURNOVER : US$1,027,811.37
(AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.0638 = 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
: 97 square meters (Approx)
Location
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Property status :
Rented
Type of building :
Retail outlet in a semi-residential building
Other tel no
: 7-3227308
*Factories, Size & Locations*
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The company is a trading house focused on exports of
overseas products and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small -sized company operated and managed by the owner.
*Reputation*
==========
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.
Email : bob.chao@msa.hinet.net
For the past 1 year there is no record of litigation.
*Major Shareholders*
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Shareholders' Name % of Shares
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Ms. Michelle Hsueh-fen
Liu 100.00
Management : Mr. Bob Hsin-hui Chao, Representative
Ms. Michelle Hsuen-fen Liu, General Manager
Name Nationality Job Description
Mr. Bob Hsin-hui Chao Taiwanese Representative Sales
Ms. Michelle Hsuen-fen Liu
Taiwanese General Manager
*Key Personnel*
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Michelle Hsueh-fen Liu
Founder
: Sole-founder
Resident status
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Work experience
: More than 1 years experience.
Responsibilities
: Handles the daily operation of
the firm including all financials, sales and legal matters.
*Main Products & Services*
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Specializes in the following areas of work:
1. Local sourcing and purchasing of steel coil and related
steel materials.
2. Export of locally purchased steel materials.
Products : Flat-rolled iron
Plates steel
Rolled iron
Rolled steel products
Steel
coil
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : 30 - 90 days credit
*Competitors*
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The following locally based companies supply similar range
of products :
- WIN YI STEEL INDUSTRIAL CO LTD
- FOUNDER LAND CO LTD
- SHANG TAI STEEL CO LTD
- SPECIAL STEEL CO LTD
- SAN YIH STEEL CO LTD
*Local Distribution Network*
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The company is largely focused on the export market and
hence very little domestic sales are achieved.
*Export Markets*
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100% of the annual turnover is attributed to export.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : BOB CHAO INT'L CO LTD
Address : 5Fl-1,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Professional Services
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 summary financials were obtained for reference.
*BANK DETAILS*
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Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : BANK OF OVERSEAS CHINESE
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : OCCBTWTP
*Int´l Trade Activity
(Currency:
==============================
Year
Imports Exports Total
2006
n/a $899,456.19 $899,456.19
*Financial Summary
(Currency:
==============================
Year Sales Assets Net Income
2006
$1,027,811.37
$121,251.51 $36,880.29
SC is considered small-sized in its line with a short operating history.
A credit line up to USD 10,000 would appear to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 331207 Steel
Plate/Sheet/Strip
Exporting 3316 Cold-Rolled
Steel Products
Exporting 3325 Steel
Foundries, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 7208270060 Flat-rolled iron or nonalloy steel,
clad,
plated or coated, under
Exporting 7208360030 Flat-rolled high-strengh iron or nonalloy steel coils
rolled,
not clad, plated or coated, over
Exporting 7210490000 Flat-rolled iron or nonalloy steel plated or coated with zinc
(nt electrolytically), not
corrugated,
Exporting 7210700000 Flat-rolled iron or nonalloy steel,
plastic
coated
Exporting 7301100000 Sheet piling of iron or steel, whether or not drilled, punched
or made from
assembled
elements
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Exporter Flat-rolled
iron
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
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%)