MIRA INFORM REPORT

 

 

Report Date :

07.07.2012

 

IDENTIFICATION DETAILS

 

Name :

HSING KU ENTERPRISES CO., LTD.

 

 

Registered Office :

1F., No.166, Sec. 1, Changhe Rd., Annan Dist., Tainan City 709,

 

 

Country :

Taiwan

 

 

Date of Incorporation :

02.03.1974

 

 

Com. Reg. No.:

69282335

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Trading of Stainless Steel Raw Material and Stainless Steel Scraps, etc

 

 

No. of Employees :

Over 1,000 employees (Group)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Taiwan

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Contact Points

 

Company Name:

Hsing Ku Enterprises Co., Ltd.

Supplied Name:

Hsing Ku Enterprises Co Ltd. (HSKU Raw Materials Ltd.)

Trading Address:

1F., No.166, Sec. 1, Changhe Rd., Annan Dist., Tainan City 709, Taiwan (R.O.C.)

Supplied Address:

1F 228 Section 1 Anzhong Rd Annan Dist Tainan

Telephone Number:

+886-6-396-0777

E-mail:

stainless@hsku.com

 

Notes: Subject’s exact name and address are as above and subject’s staff Ms. Chen introduced that the supplied address also belongs to subject’s group.

 

 

Credit Summary

 

Credit Opinion:

Business connections are permissible.

 

 

Company Identification Details

 

Registered Name:

Hsing Ku Enterprises Co., Ltd.

Registered Address:

1F., No.166, Sec. 1, Changhe Rd., Annan Dist., Tainan City 709, Taiwan (R.O.C.)

Date of Foundation:

1974-3-2

Registration Number:

69282335

Registry:

Tainan City Government

Registered Capital:

NTD 14,000,000 (USD 469,000)

(As of 2012.07, 1 NTD = 0.0335 USD)

Legal Representatives:

Jiben Yang

Legal Form:

Private Limited Company

Principal Activities:

Trading of Stainless Steel Raw Material and Stainless Steel Scraps, etc

Staff:

Over 1,000 employees (Group)

Listed at Stock Exchange:

No

Date of Last Annual Return:

2012-4-2

 

 

History

 

Subject was incorporated on 1974-3-2 with registered number 69282335 as Private Limited Company in Taiwan.

 

 

Shareholders

 

(Unit: NTD)

Name

Subscription Amount

Jiben Yang

3,500,000         

 

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

 

 

Subsidiaries & Branches

 

Other related address

Address 

Block 81-2 of Sec. 5 An-Tong Road, Tainan, Taiwan

Tel:

+886-6-247-7000

Fax:

+886-6-255-0094

 

It is introduced that subject’s group has related offices in 12 countries in Asia (the mainland of China, Hong Kong and Malaysia, etc) and Europe

 

 

 

Personnel Information

 

Core Management

Director

Name

Jiben Yang

Position

Director

 

Personnel Structure

Total Employees

Over 1,000 employees (Group)

 

 

Operation Information

 

Offices & Factories

 

Headquarters

Add

1F., No.166, Sec. 1, Changhe Rd., Annan Dist., Tainan City 709, Taiwan (R.O.C.)

 

Production Information

l         Subject is a trader of stainless steel materials and scraps

l         It is introduced that subject has 6 related metal processing yards in Asia for the metal processing.

 

Purchase Information

l         The registered activities of subject:

--

Sales of all kinds of hardware

--

Cutting, processing and sales of Hardware products (including steel plate, cooper plate, aluminum plate)

--

Clearing and processing business of waste

--

Sales of stainless steel scraps and iron scraps

--

Import and export trading business of the above mentioned items

l         Subject purchases stainless steel materials and scraps both at home and abroad.

 

Sales Information

l         The subject is mainly engaged in sales of stainless steel raw materials and stainless steel scrap, etc

l         Subject’s products are both sold in domestic and oversea market.

 

Major products sold

Stainless steel raw materials

LME Grade Nickel

Non-LME Grade Nickel

Ferro-Nickel

Ferro Molybdenum

Ferro Titanium

Raw materials needed for all grades of stainless steel scraps

Stainless steel scraps

Blended stainless steel scrap

304 stainless steel scrap solid-turnings

Nickel, chrome and molybdenum based scraps such as 309/310/330/Haastelloy/Inconel

Titanium Scrap Solid/Turnings

 

Import and export right:

Import right

Yes

Export right

Yes

 

 

Settlements

 

Purchase

Domestic Purchase

Product

Payment Terms

Proportion

Stainless steel materials and scraps, etc

Interior settlement, COD, etc

100%

 

Foreign Purchase

Product

Payment Terms

Proportion

Stainless steel materials and scraps, etc

CBD, etc

100%

 

Sales

Domestic Markets

Product

Sales Terms

Proportion

Stainless steel materials and scraps, etc

CBD, etc

100%

 

Export

Product

Sales Terms

Proportion

Stainless steel materials and scraps, etc

CBD, etc

100%

 

 

Financial Information

 

Subject has no obligations to disclose 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 Ms. Chen declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.

 

Bankers

 

Subject declined to disclose its bank details; from other source we can not obtain the relevant information, either.

 

 

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

 

Name

Ms. Chen

Department

Sales department

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.42

UK Pound

1

Rs.86.04

Euro

1

Rs.68.61

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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