MIRA INFORM REPORT

Report Date :

02.02.2012

IDENTIFICATION DETAILS

Name :	HUOM MING METAL CO., LTD.

Registered Office :	No.51, Lane 577, Sec. 3, Chengtai Rd., Wugu Dist., New Taipei City 248

Country :	Taiwan

Date of Incorporation :	01.08.1975

Com. Reg. No.:	04325108

Legal Form :	Limited Liability Company

Line of Business :	Trade of Steel bars, Iron or steel articles, Iron or non-alloy steel bars, Other iron or non-alloy steel bars and rods, Other stainless steel wire.

No. of Employees :	About 50 Employees

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 30,000
Status :	Moderate
Payment Behaviour :	No Complaints
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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Taiwan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Contact Points

Company Name:	Huom Ming Metal Co., Ltd.
Supplied Name:	Huom Ming Metal Co Ltd.
Trading Address:	No.51, Lane 577, Sec. 3, Chengtai Rd., Wugu Dist., New Taipei City 248, Taiwan (R.O.C.)
Supplied Address:	No. 51 Lane 577 Sec 3 Chengtai Road, Wugu Distric New Taipei City 248 Taiwan
Telephone Number:	+886-2-2292-8581
Fax Number:	+886-2-2292-8592
E-mail:	huomming@ms67.hinet.net

Credit Summary

Credit Rating:	Maximum credit USD 30,000
Credit Opinion:	Business connections are permissible.

Company Identification Details

Registered Name:	Huom Ming Metal Co., Ltd.
Registered Address:	No.51, Lane 577, Sec. 3, Chengtai Rd., Wugu Dist., New Taipei City 248, Taiwan (R.O.C.)
Date of Foundation:	1975-08-01
Registration Number:	04325108
Registry:	New Taipei City Government
Registered Capital:	NTD 76,000,000 (USD 2,545,060) (As of 2012.1, 1 NTD = 0.03349 USD)
Legal Representatives:	Guoming Chen
Legal Form:	Limited Liability Company
Principal Activities:	Trade of Steel bars, Iron or steel articles, Iron or non-alloy steel bars, Other iron or non-alloy steel bars and rods, Other stainless steel wire
Staff:	About 50 Employees
Listed at Stock Exchange:	No
Date of Last Annual Return:	2011-12-16

History

Subject was incorporated on 1975-08-01 with registered number 04325108 as Limited Liability Company in Taiwan.

Shareholders

(Unit: NTD)

Name

Subscription Amount

Guoming Chen

28,000,000

The information above is that of subject’s major shareholders.

Subsidiaries & Branches

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Personnel Information

Core Management

Directors

Name	Guoming Chen
Position	Director

Personnel Structure

Total Employees

About 50 Employees

Operation Information

Offices & Factories

	Office
Add	No.51, Lane 577, Sec. 3, Chengtai Rd., Wugu Dist., New Taipei City 248, Taiwan (R.O.C.)

Production Information

l Subject is a manufacture of steel bars, iron or steel articles, iron or non-alloy steel bars, other iron or non-alloy steel bars and rods, other stainless steel wire with the production activities

Purchase Information

l The registered activities of subject:

Business Code	Details
1	Trade of steel bars, iron or steel articles, iron or non-alloy steel bars, other iron or non-alloy steel bars and rods, other stainless steel wire
2	Trade of hardware-related products.

l The raw materials for production are purchased from local Taiwan.

Sales Information

l Subject is engaged in sales of nipple wire, steel bars, iron or steel articles, iron or non-alloy steel bars, other iron or non-alloy steel bars and rods, other stainless steel wire.

l Subject manufactures the Steel bars, Iron or steel articles, Iron or non-alloy steel bars, other iron or non-alloy steel bars and rods, other stainless steel wire

l Subject sells products to many countries, such as the mainland of China, East South Africa and so on.

Import and export right:

Import right	Yes
Export right	Yes

Settlements

Purchase

Domestic Purchase (Taiwan and Mainland, China)

Product	Payment Terms	Proportion
Raw materials	COD, etc	100%

Foreign Purchase

Subject seldom purchases from foreign markets.

Sales

Domestic Markets (Taiwan)

Product	Sales Terms	Proportion
Steel bars, Iron or steel articles, Iron or non-alloy steel bars, other iron or non-alloy steel bars and rods, other stainless steel wire.	CBD, etc	100%

Export

Product	Sales Terms	Proportion
Steel bars, Iron or steel articles, Iron or non-alloy steel bars, other iron or non-alloy steel bars and rods, other stainless steel wire.	T.T, L/C, etc	100%

Financial Information

The subject has no obligations to supply its financial statements to the third party according to the relevant policy in Taiwan and the only source from which we can obtain the information is the subject itself.

Subject’s relevant staff declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

Bankers

Open Account Bank

Name	Bank of Taiwan

Public Record

Mortgage

No chattel mortgage record of subject has been found within the recent 3 months.

Lawsuit

Up to date of reporting, no existing or latent litigation of the subject has been found.

Interview Details

Note:

A lady declined to disclose her name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.53
UK Pound	1	Rs.77.95
Euro	1	Rs.64.66

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.