MIRA INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
NOVA METALLIC CO |
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Registered Office : |
19-8 Lin Teh St Linya Dist ,Kaohsiung City 802 |
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Country : |
Taiwan |
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Date of Incorporation : |
17.11.1999 |
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Com. Reg. No.: |
16818231 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing a wide range of nickel alloy products and instruments. Sales and distribution of products to local consumers. |
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 : |
USD 5,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
NOVA METALLIC CO
19-8 LIN TEH ST LINYA DIST
KAOHSIUNG CITY 802, TAIWAN
TEL: 886-7-7159608 FAX:
886-7-7159609
EXECUTIVE SUMMARY
INCORPORATION DATE :
NOVEMBER 17, 1999
REGISTRATION NO. :
16818231
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. YUEH-KAI TANG (CHAIRMAN)
STAFF STRENGTH :
1
CAPITAL :
US$ 98,522
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : UP TO
USD 5,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.59920 = 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
Registered Legal Address: 36Fl-2, 80 Min Tzu 1st Rd Sanming Dist
Kaohsiung City 807
*Office & Facilities*
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Size : 72 sq meters (Approx)
Location : Kaohsiung Hsien
Property status : Rented
Type of building : Apartment
Other e-mail : nova@mky.com
*Factories, Size & Locations*
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The company is a trading house focused on importation of overseas
products, and maintains no manufacturing facilities.
*Corporate & Organization Structure*
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A small sized company operated and managed by an experienced team of
professionals.
SC is not known to host website of its own at present.
E-mail: hoyametallic@giga.net.tw
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: n/a
Shareholders Country Number Amount %
Mr. Yueh-kai Tang Taiwan
n/a n/a 99.00
Undisclosed Shareholders n/a n/a n/a 1.00
Management: Mr. Yueh-kai Tang, General Manager
Name Nationality
Job Description
Mr. Yueh-kai Tang Taiwanese
General Manager
*COMPANY DIRECTORS*
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1
Name : Mr. Yueh-kai Tang
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of work :
1. Importing a wide range of nickel alloy products and instruments.
2. Sales and distribution of products to local consumers.
Products: Copper cathodes
Nickel alloy
products
Nickel alloy round
bars
Nickel powder
Zinc ingots
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- LIEN HUNG ALLOY TRADING CO LTD
- NEW ALLOYS CO LTD
- DEN CHANG HARDWARE INDUSTRY CO LTD
- YUAN CHEI TRADING CO LTD
- INTERNATIONAL HOLY INC
*Domestic Customers*
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Most of domestic sales are achieved through direct sales to end-user
customers, including Taiwan government.
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*International Trade Activity*
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There is no record of exports since the prime focus of the firm's
activity is concentrated on the local sales only.
Note : The "export" figures listed above, are not actual
products being exported by NOVA METALLIC CO, but a small percentage of returned
goods imported by the firm.
SC is not known to have any subsidiary at present.
PAYMENT RATING : 4 OBTAINED SCORES :
48
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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.
*BANK DETAILS*
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Bank Name : BANK OF TAIWAN
Branch : Chungcheng Dist, Taipei City
Branch Address : 120 Chung Ching South Rd Section 1
SWIFT Code : BKTWTWTP
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $240,827.80 $0.00 $240,827.80
2006 $280,000.00 $0.00 $280,000.00
Credit amount: USD 500,000
SC is considered small-sized in its line with a development history of 9
years. The above credit amount appears to be beyond SC’s capacities, while 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
Importing 3334 Aluminum
and aluminum alloys, unwrought
Importing 3351 Copper,
rolled or drawn
Trading 3334 Aluminum
and aluminum alloys, unwrought
Trading 3351 Copper,
rolled or drawn
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 7403 Refined
copper & alloys (no mast alloy), unwrought
Importing 7403110000 Refined copper cathodes and sections of cathodes
Importing 7504 Nickel
powders and flakes
Importing 7504000010 Nickel powders
Importing 7505 Nickel
bars, rods, profiles and wire
Importing 7505120000 Bars, rods and profiles of nickel alloys
Trading 7403 Refined
copper & alloys (no mast alloy), unwrought
Trading 7403110000 Refined
copper cathodes and sections of cathodes
Trading 7504 Nickel
powders and flakes
Trading 7504000010 Nickel
powders
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Copper
cathodes
Trader Nickel alloy
products
Trader Zinc
ingots
Trader Nickel alloy
round bars
Trader Nickel
powder
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
North America Importing
USA Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.49 |
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UK Pound |
1 |
Rs.84.21 |
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Euro |
1 |
Rs.66.33 |
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%)