MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
STEELFORCE FAR EAST LTD |
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Registered Office : |
3806 CENTRAL PLAZA, 18 HARBOUR RD WANCHAI |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.09.2005 |
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Com. Reg. No.: |
0995715 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader of Various Metal Products.
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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 : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NAME & ADDRESS
STEELFORCE FAR
EAST LTD
3806 CENTRAL PLAZA
18 HARBOUR RD WANCHAI, HONG KONG.
TEL: 852-28779300 FAX:
852-28100502
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 14, 2005
REGISTRATION NO. :
0995715
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHI-YEUNG TSO (CHAIRMAN)
STAFF STRENGTH :
25
CAPITAL :
US$ 1,187,500
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 100,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79761 = US$1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –Hong Kong Dollars
*OTHER LICENSE*
================
License Number : 36153576-000
Issuing Authority : Business Registration Office - Inland Revenue Dept
*Company Name*
==============
Incorporated as :
PROMAFERCOM ASIA LTD
Date of incorporation : 14 September, 2005
Changed name to :
STEELFORCE FAR EAST LTD
Date of changed : 8
April, 2006
*Capital Details*
============
Share value
: EUR 100.00/-each
Initial authorized capital
: EUR 10,000.00 divided into 100 ordinary shares
Authorized capital increase :
EUR 760,000.00 divided into 7,600 ordinary shares, fully paid
*Office & Facilities*
================
Other Contact Details
------------------------------
Fax nos. :
28779323 / 28027733
E-mail addresses: - josephine.ng@ortintertrust.com
- business@asiatrade.com.hk
- business@fortisintertrust.com
Previous address: Unit 2001 Central Plaza 18 Harbour Rd Wanchai Hong
Kong
*Corporate & Organization Structure*
============================
Organization Chart
-------------------------
STEELFORCE
__________________________________|______________________________________
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STEELFORCE STEELFORCE STEELFORCE
STEELFORCE STEEL-LINK STEELFORCE
AFRICA ASIA AMERICAS MIDDLE
EAST
EUROPE
*Approved Signatures*
==================
Only PRANZA LTD can sign on behalf of the company with seal affixed.
*Registrar*
=========
FORTIS INTERTRUST (HONG KONG) LTD
Address : 3806 Central Plaza 18 Harbour Rd
www.steelforce.net
The design is professional and the content is well organized. At present it is
in Spanish, French and English versions.
E-mail: fareast@steelforce.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholder : 1
Total number of ordinary shares : 100
Shareholder's Name No.
of Ordinary Shares Amount of
Shares (EUR) % of Shares
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-----------------------------
------------------------------ ----------------
STEELFORCE BVBA
7,600 760,000.00 100.00
Note: On 12 April, 2007, allotted 7,500 shares.
*Corporate Secretary*
=================
PRINZA LTD
C.R. number : 0334490
Address : 3806
Central Plaza 18 Harbour Rd Wanchai Hong Kong
Date appointed : 15 September, 2005
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Chi-yeung Tso
Nationality : Hong Kong
Registered Address : Flat F 25Fl City One Shatin Block 50, Shatin, New
Territories
Country of Residence : Hong Kong
Date of Appointment : 15 Sep, 2006
2
Name : Mr. Karel F. L. Pannemans
Nationality : Belgium
Registered Address : Rode Dreef 49, Schilde, 2970
Country of Residence : Belgium
3
Name : Mr. Kurt C. E. Crollet
Nationality : Belgium
ID/Passport No. : EF818054
Registered Address : Lothar Wyrtkilaan 1, Ranst, 2520
Country of Residence : Belgium
4
Name : Mr. Lucien H. J. Smolders
Nationality : Belgium
Registered Address : Deurnestraat 158, Mortsel, 2640
Country of Residence : Belgium
5
Name : Mr. Ronald L. Willemsens
Nationality : Belgium
ID/Passport No. : EF818054
Registered Address : Demmemlaam 4, Kasterlee, 2460
Country of Residence : Belgium
6
Name : Mr. Shan-hao Chui
Nationality : Hong Kong
Registered Address : Flat B 11Fl Lu Shan Mansion, Taikoo Shing, Hong
Kong
Country of Residence : Hong Kong
Date of Appointment : 15 Sep, 2006
*Main Products & Services*
======================
Specializes in the trading of various metal products.
Products: Bars
Billets
Blooms
Coated steel
sheets
Coils
*Payment Terms*
=============
Sales
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Local : Cash or credit
Purchases
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Local : Cash or credit
*Local Distribution Network*
=======================
100% of the annual turnover is attributed to local sales.
*(Subsidiaries, Joint-ventures & Affiliates)
==============================
Company Name : STEELFORCE AFRICA NV
Address : Lange Klarenstraat 16/20 Antwerpen 2000 Belgium
Country : Belgium
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : STEELFORCE AMERICAS NV
Address : Lange Klarenstraat 16/20 Antwerpen 2000 Belgium
Country : Belgium
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : STEELFORCE ASIA NV
Address : Lange Klarenstraat 16/20 Antwerpen 2000 Belgium
Country : Belgium
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : STEELFORCE EUROPE NV
Address : Lange Klarenstraat 16/20 Antwerpen 2000 Belgium
Country : Belgium
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : STEELFORCE FAR EAST LTD - DALIAN REPRESENTATIVE OFFICE
Address : Rm 4511 World Trade Centre Dalian China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : STEELFORCE FAR EAST LTD - SHANGHAI REPRESENTATIVE OFFICE
Address : Rm 2406-07 POS Plaza 1600 Century Ave Pudong Dist Shanghai
200122 China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
Company Name : STEELFORCE MIDDLE-EAST FZCO
Country : United Arab Emirates
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Metals & Metal Products
*Strategic Partners & Alliances*
=========================
Group name : STEELFORCE
Details : - Headquarters
located in Antwerp Belgium.
- In 2006 the group
was importing from and exporting to more than 85 countries in Africa, America,
Asia, Europe, Middle and the Far East, including Russia, Ukraine, China, Korea,
India, Singapore, Brazil, Mexico and the Europe.
- In 2005 the group
achieved sales of EUR 457 million representing a flow of goods of about 1
million tons of steel.
PAYMENT RATING : 3 OBTAINED SCORES :
60
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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 MODERATE 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.
SC is considered small-sized in its line with a short development
history. Taking into consideration of SC’s general performance, a credit line
up to USD 100,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 331207 Steel
Plate/Sheet/Strip
Trading 3317 Steel Pipe
& Tubes
Trading 3339 Primary
nonferrous metals,
Trading 3441 Fabricated
structural metal products,
Trading 3499 Fabricated
metal products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7202995040 Ferroalloys
Trading 7206100000 Iron
and nonalloy steel ingots
Trading 7227 Bars
& rods alloy steel, hot-rolled irreg coils
Trading 7228 Alloy
steel bars, angles etc; hol dr st bars etc
Trading 7300 Articles
of iron or steel
Trading 7308907000 Steel
grating
Trading 7403130000 Billets,
refined copper, unwrought
Trading 8108105060 Blooms,
sheet bars and slabs, titanium
Trading 8108906045 Plates,
sheets, strips and foil, titanium
Trading 8300 Miscellaneous
articles of base metal
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Perforated
sheets
Trader Gratings
Trader Non-prime
steel
Trader Non-ferrous
metal profile
Trader Steel
profiles
Trader Hot rolled
strips
Trader Cold-rolled
strips
Trader Steel window
sections
Trader Non-ferrous
metals
Trader Ferrous
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)