MIRA INFORM
REPORT
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Report Date : |
27.01.2011 |
IDENTIFICATION DETAILS
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Name : |
Huei Shang Industrial Co Ltd. |
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Registered Office : |
2fl, |
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Country : |
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Date of Incorporation : |
04.07.1983 |
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Com. Reg. No.: |
12447809 |
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Legal Form : |
Private Company
With Limited Liability |
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Line of Business : |
Exporting of Finished 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 : |
USD 100000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
HUEI SHANG
INDUSTRY CO LTD
2FL,
SECTION 3
TEL: 886-2-25953031
FAX: 886-2-25915864
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 4, 1983
REGISTRATION NO. :
12447809
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MR. MIKE CHUNG-HO CHEN (PRESIDENT)
STAFF STRENGTH :
20
CAPITAL :
NTD 20,000,000
BUSINESS LINE :
EXPORTER
TURNOVER :
NTD 315,000,000 (AS OF DECEMBER, 2009)
EQUITIES :
N/A (AS OF DECEMBER, 2009)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 29.01874 = US$1 AS OF
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - Subject Company (the company inquired by you)
NA - not available
M - Million
TWD –
Name in Local Language :
*CAPITAL (Currency: NTD - New
======================================
Authorized Capital: 20,000,000
Paid-up Capital: 20,000,000
*OFFICE & FACILITIES*
====================
Name : HUEI SHANG INDUSTRIAL CO LTD - TATUNG DIST,
Building Size : 195 Square meters
Type of Location : Industrial Area
Address : 2Fl,
Country :
Ownership of Property : Rented / Leased
Status : Operational
www.hsi-hgi.com.tw The design is professional and the content is
well organized. At present it is in Chinese, Japanese and English versions.
E-mail: sales@hsiwww.com
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: 4
Total number of shares: 1,960,000
Shareholders Country Number
Amount %
Mr. Mike Chung-ho Chen
Mr. Chung-shun Chen
Mr. Chung-an Chen
Mr. Hsiu-nu Lee
Name Nationality
Job Description Dept. / Division
Ms. Shirley Chang Taiwanese
Representative Marketing
Ms. Yu-chen Chen Taiwanese
Manager Sales
Mr. Mike Chung-ho Chen Taiwanese
General Manager -
*COMPANY DIRECTORS*
=====================
1
Name : Ms. Shirley Chang
2
Name : Mr. Mike Chung-ho Chen
Country of Residence :
3
Name : Ms. Yu-chen Chen
4
Name : Mr. Chung-an Chen
Nationality : Taiwanese
5
Name : Mr. Chung-shun Chen
Nationality : Taiwanese
*CORE BUSINESS DESCRIPTION*
============================
Core Business
------------------
The primary business focus of HUEI SHANG INDUSTRIAL CO LTD
is:
·Exporting - Finished products
An integral part of the core business includes:
·Distribution
Supplementary Business
------------------------------
In addition to the core business, HUEI SHANG INDUSTRIAL CO
LTD also is engaged in the following areas of business:
Importing
·Importing - Finished products
*Primary Products*
==============
Activity Products /
Materials / Services Description
Exporting Box-type
furnace
Exporting Cast
iron parts
Exporting Electric
furnace
Exporting Electric
track conveyor system
Exporting Electrostatic
air cleaners
*PAYMENT TERMS*
=================
Selling
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Type Terms
Export Letter of
Credit (At-sight)
Telegraphic Transfer (T/T) -
Received at time of transaction
Purchasing
-------------
Type Terms
Local Cash on
delivery (COD)
Credit - Secured with Post-dated
checks 30~90 days
Import Letter of
Credit (At-sight)
Telegraphic Transfer (T/T) -
Executed at time of transaction
*Brand*
======
HTC
*TRADE SHOWS*
===============
Exhibition Acronym
Country Participating Year
Manufacturing
Int'l Manufacturing Technology
Show
*Competitors*
============
The following is a representative list of local competitors:
AN FENG SPRING ENTERPRISE CO LTD
CHIANENG SPRING CO LTD
FENG YU MACHINE ENTERPRISE CO LTD
JOTING SPRING MACHINE CORP
TAI SHAN SPRING CO LTD
*DOMESTIC SALES & PURCHASES*
=============================
Annual Sales Analysis Percentage
--------------------------- --------------
International Sales (Export) 100%
Annual Purchases Analysis Percentage
--------------------------- --------------
Local Purchases 95%
Imports 5%
*DOMESTIC SUPPLIERS*
=====================
HSIN TONG CHEN MACHINERY CO LTD
*OVERSEAS SUPPLIERS*
=====================
HTC SPRING MACHINERY LTD
*OVERSEAS CUSTOMERS*
======================
BIMEKS CELIK TICARET AS
FORMING SYSTEMS INC
MACHINE TOOLS ASSOCIATES
MANENTIMACCHINE SRL
WEBSTER & HORSFALL LTD
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name : TRENHO ENTERPRISES CO LTD
Address : 2Fl,
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Machinery
*OVERSEAS AGENTS AND DISTRIBUTORS*
====================================
Agent : BIMEKS CELIK TICARET AS
Country of Origin :
Product Description : Machinery
Year : 2005
Agent : FORMING SYSTEMS INC
Country of Origin :
Product Description : Forming machines
Year : 2005
Agent : MACHINE TOOLS ASSOCIATES
Country of Origin :
Product Description : Machine tools
Year : 2005
Agent : MANENTIMACCHINE SRL
Country of Origin :
Product Description : Machinery
Year : 2005
Agent : WEBSTER & HORSFALL LTD
Country of Origin :
Product Description : Machinery
Year : 2005
PAYMENT
RATING : 3 OBTAINED SCORES : 65
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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.
*BANK DETAILS*
===============
Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist,
Branch Address : Central Dist,
SWIFT Code : CCBCTWTP
Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,
Branch Address : Chungcheng Dist,
SWIFT Code : HNBKTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address : Chungcheng Dist,
SWIFT Code : ICBCTWTP
*FINANCIAL STATEMENT – DETAILED*
=================================
Currency : NTD
Denomination : 1
Financial Year Ending : December
Financial Highlights As
of 2009
------------------------ ---------------
Current Assets(*) 10,000,000
Turnover(*) 315,000,000
Profit After Tax attributable to Shareholders(*) 14,000,000
*Financial Summary (Currency:
==============================
Year Sales
Net Income
2008 $16,459,627 $714,286
2009 (*) $9,791,731 $435,188
Note: (*)
Financials listed are the most recent available for this
company.
*Int´l Trade Activity (Currency:
===============================
Year Imports Exports Total
1998 $200,000.00 $10,000,000.00 $10,200,000.00
2004 $45,000.00 $6,000,000.00 $6,045,000.00
2005 $46,000.00 $7,000,000.00 $7,046,000.00
2006 $48,000.00 $8,000,000.00 $8,048,000.00
2007 $29,000.00 $10,900,000.00 $10,929,000.00
2008 $32,000.00 $9,000,000.00 $9,032,000.00
2009 n/a $4,000,000 $4,000,000
SC is considered small-sized in its line with a development
history of nearly 28 years. Taking into consideration of SC’s general
performance, a credit line up to USD 100,000 appears to be within SC’s
capacities.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 3569 General industrial machinery and equipment,
and parts,
Exporting 3500 Industrial Machinery & Equipment
Exporting 3567 Industrial furnaces and ovens, and parts,
Exporting 3545 Machine tool accessories, and parts,
Exporting 3542 Machine tools metal-forming, and parts,
Exporting 3541 Machine tools, metal-cutting, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Exporting 8466931030 Cast-iron parts not advanced & machined only for the
removal of fins, gates, etc,
for metalworking machine tools
for cut, grind or finishing gears
Exporting 8417100000 Furnaces & ovens for roasting,
melting or other heat treatment of ores, pyrites or
of metals, industrial or
laboratory, nonelectric
Exporting 8514 Industrial
or lab elec furnaces etc, parts
Exporting 8514300000 Industrial or laboratory furnaces and ovens
Exporting 8462990010 Machine tools (including presses) working
by forming metal, used or rebuilt
Exporting 8463 Machine tools for working metal
Exporting 8463900040 Machine tools for working metal without
removing material, used
Exporting 8485900000 Machinery parts not containing electrical features, and not
specified or included
elsewhere
in chapter 84, except ships' propellers
Exporting 9024100000 Machines and appliances for testing metals
Exporting 8479 Machines etc having individual
functions, parts
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Ranking
Products / Materials / Services
Description
Exporting Primary Heat
treatment furnace
Exporting Primary Industrial
furnace
Exporting Primary Laboratory
furnaces
Exporting Primary Machine
accessories
Exporting Primary Machine
parts
Exporting Primary Metalworking
machine tools
Exporting Primary Ovens,
heat-treatment
Exporting Primary Particle
collectors
Exporting Primary Parts
washer
Exporting Primary Spring
gauges
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country
/ Region Estimated level of
importance Trading Activity
Middle-East Medium Exporting
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian
Rupees |
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US Dollar |
1 |
Rs.45.53 |
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1 |
Rs.72.79 |
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Euro |
1 |
Rs.62.14 |
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 |
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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NB |
New
Company |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.