|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIGMA BROTHERS INC. |
|
|
|
|
Registered Office : |
No.24, Tai-Chi Rd., Hsiao-Kang Dist.,
Kaohsiung |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
07.05.1981 |
|
|
|
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Com. Reg. No.: |
69690873 |
|
|
|
|
Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Manufacture and trade of secondary aluminum
and metal scrap and the related products |
|
|
|
|
No. of Employees : |
About 100 Employees |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually
decreasing government guidance of investment and foreign trade. Exports, led by
electronics, machinery, and petrochemicals have provided the primary impetus
for economic development. This heavy dependence on exports exposes the economy
to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.8%, due
primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%,
as exports returned to the level of previous years, and in 2011, grew 4.0%. In
2012, however, growth fell to 1.3%, because of softening global demand.
Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are
major long-term challenges. Free trade agreements have proliferated in East
Asia over the past several years, but except for the landmark Economic
Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far
Taiwan has been excluded from this greater economic integration in part because
of its diplomatic status. Negotiations continue on such follow-on components of
ECFA regarding trade in goods and services. The MA administration has said that
the ECFA will serve as a stepping stone toward trade pacts with other key trade
partners, which Taiwan subsequently launched with Singapore and New Zealand.
Taiwan's Total Fertility rate of just over one child per woman is among the
lowest in the world, raising the prospect of future labor shortages, falling
domestic demand, and declining tax revenues. Taiwan's population is aging
quickly, with the number of people over 65 accounting for 11.2% of the island's
total population as of 2012. The island runs a large trade surplus largely
because of its surplus with China, and its foreign reserves are the world's
fifth largest, behind China, Japan, Saudi Arabia, and Russia. In 2006 China
overtook the US to become Taiwan's second-largest source of imports after
Japan. China is also the island's number one destination for foreign direct
investment. Three financial memorandums of understanding, covering banking,
securities, and insurance, took effect in mid-January 2010, opening the island
to greater investments from the mainland's financial firms and institutional
investors, and providing new opportunities for Taiwan financial firms to
operate in China. In August 2012, Taiwan Central Bank signed a memorandum of
understanding on cross-Strait currency settlement with its Chinese counterpart.
The MOU allows for the direct settlement of Chinese RMB and the New Taiwan
dollar across the Strait, which could help develop Taiwan into a local RMB hub.
Closer economic links with the mainland bring greater opportunities for the
Taiwan economy, but also poses new challenges as the island becomes more
economically dependent on China while political differences remain unresolved.
|
Source
: CIA |
|
Company Name: |
SIGMA BROTHERS INC. |
|
Supplied Name: |
SIGMA BROTHERS INC |
|
Trading Address: |
No.24, Tai-Chi Rd., Hsiao-Kang Dist.,
Kaohsiung, Taiwan, R.O.C. |
|
Supplied Address: |
No. 24, Tai-Chi Rd., Hsiao-Kang Dist
Kaohsiung City,Taiwan |
|
Telephone Number: |
+886-07-8019111 |
|
Fax Number: |
+886-07-8032211 |
|
E-mail: |
Notes: The
supplied address is incomplete, and the exact address is as above.
Subject was incorporated
on
|
Subscription Shares |
|
|
Shuhua Huang |
3,480 |
|
Yaobin Huang |
16,800 |
|
Shufen Huang |
8,520 |
|
Biling Cai |
10,800 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name |
Shanghai Sigma Metals, Inc |
|
Address: |
NO.369 Fu-Lian 3rd Road, Bao-Shan Dist. Shanghai 201906，China |
|
TEL |
+86-21-3604-1818 |
|
FAX |
+86-21-3604-1115 |
|
2 |
|
|
Name |
Zhangzhou Sigma Metals, Inc |
|
Address: |
Tsann Kuen Industrial Park, Longchi Development Zone, Zhangzhou,
Fujian, China |
|
TEL |
+86-596-6767-111 |
|
FAX |
+86-596-6798-308 |
|
3 |
|
|
Name |
Shanghai Sigma Metals Chongqing Co. |
|
Address: |
Yongchuan Development Area, Chongqing, China |
|
TEL |
+86-23-4940-3666 |
|
FAX |
+86-23-6754-2401 |
|
4 |
|
|
Name |
Shanghai Sigma Metals DongGuan Co. |
|
Address: |
Room 803, Hui-Cheng Building, Hongfu Road, Nan Cheng Dist. Dongguan
City, Guangdong province, China |
|
TEL |
+86-769-2366-2320-21 |
|
FAX |
+86-769-2366-2329 |
|
5 |
|
|
Name |
Global Metal Industrial Corp. |
|
Address: |
754 Route 18 North Suite 102,East Brunswick, New Jersey 08816 |
|
TEL |
+1-732-432-9755 |
|
FAX |
+1-732-432-9759 |
|
6 |
|
|
Name |
Rizhao Sigma Metals Inc. |
|
Address: |
Rizhao Economic Development Zone 300 Chengdu Road |
|
TEL |
+86-0633-2181111 |
|
FAX |
+86-0633-2178739 |
Core Management
Directors
|
1 |
|
|
Name |
Shuhua Huang |
|
Position |
Board of Chairman |
|
2 |
|
|
Name |
Yaobin Huang |
|
Position |
Director |
|
3 |
|
|
Name |
Shufen Huang |
|
Position |
Director |
|
4 |
|
|
Name |
Biling Cai |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 100 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.24, Tai-Chi Rd., Hsiao-Kang Dist., Kaohsiung, Taiwan, R.O.C. |
Production
Information
Subject is a manufacturer of secondary
aluminum and metal scrap and the related products with the production activities
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
1 |
Manufacture and trade of aluminum alloy and the related products |
|
2 |
Manufacture and trade of zinc alloy and the related products |
|
3 |
Manufacture and trade of metal and components |
|
4 |
Manufacture and trade of regeneration aluminum, zinc products |
|
5 |
Import and export of hardware and metal |
|
6 |
General trade |
The components and raw material for production are purchased from both
local and abroad.
Subject is mainly engaged in manufacturing
and trading of secondary aluminum and
metal scrap and the related products.
Subject introduced that it smelts the
secondary aluminum, and trades the metal scrap and the related products
Subject introduced that its brand is named SBI
Subject introduced that it has the related companies in Shanghai,
Chongqing, Guangdong, the mainland of China.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Subject declined
to disclose the purchase settlements information, and from other sources, we
couldn’t obtain the information, either.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Secondary
aluminum and metal scrap and the related products. |
COB, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Secondary
aluminum and metal scrap and the related products. |
L/C , T.T, etc. |
100% |
Notes: Subject’s
settlement for export is generally in USD
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 Mr. Huang declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
The bankers’ information is not available from
the subject or other sources.
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.
|
Name |
Mr. Huang |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.44 |
|
|
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.