|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
H.S.S. IRON & STEEL TRADING CO., LTD. |
|
|
|
|
Registered Office : |
1F., No.66-1, Lane 73, Dongyuan St., Wanhua
District, Taipei City 108 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
24.04.2000 |
|
|
|
|
Com. Reg. No.: |
70492350 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of steel, etc |
|
|
|
|
No. of Employees : |
About 10 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 : |
Usually correct |
|
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. 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 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, 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 so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. 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 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken 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. 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: |
|
|
Supplied Name: |
|
|
Trading Address: |
2F-1, No. 20, Lane 109, Hwa-Shin St. ,
Chungho City, Taipei City, Taiwan, R.O.C. |
|
Supplied Address: |
2F-1, NO. 20, LANE 109, HWASHIN ST., CHUNG-HO
CITY, TAIPEI COUNTY |
|
Telephone Number: |
+886-2-2940-1208 |
|
Fax Number: |
+886-2-2940-1699 |
|
E-mail: |
Notes: Subject’s exact name and address are as above and
it is introduced that the supplied name is the one responsible for foreign
sales business.
|
Credit Opinion: |
|
Registered Name: |
H.S.S. IRON &
STEEL TRADING CO., LTD. |
|
Registered
Address: |
1F., No.66-1, Lane 73, Dongyuan St., Wanhua District, Taipei City 108,
Taiwan (R.O.C.) |
|
Date of
Foundation: |
2000-4-24 |
|
Registration
Number: |
70492350 |
|
Registry: |
Taipei City Government |
|
Registered
Capital: |
(As of 2013.03, 1
NTD = 0.0339 USD) |
|
Legal
Representatives: |
Guiting Wen |
|
Legal Form: |
|
|
Principal
Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 2000-4-24 with registered number 70492350 as Private Limited Liability Company in Taiwan.
|
Name |
Subscription Amount |
|
Guiting Wen |
2,250,000 |
The information above is that of subject’s
major shareholders.
Directors
|
Name |
Guiting Wen |
|
Position |
Director |
Personnel
Structure
|
Total Employees |
About 10 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
2F-1, No. 20, Lane 109, Hwa-Shin St. , Chungho City, Taipei City,
Taiwan, R.O.C. |
Production
Information
l Subject
is a trader of steel, etc without any production activities, etc.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
F106010 |
Wholesale of hardware |
|
F113010 |
Wholesale of mechanical |
|
F111070 |
Wholesale of metal building materials |
|
F111080 |
Wholesale of doors and windows construction materials |
|
F401010 |
The international trading |
|
F108040 |
Wholesale of cosmetics |
|
F208040 |
Retail of cosmetics |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted |
l Subject purchases products from both home and abroad.
l Subject is engaged in sales of steel, etc.
l Subject’s sales regions include mainland China, Middle East, and Europe,
etc.
l The major products sold by subject include steel billets, hot rolled
coil, hot rolled plate, ship plate, steel slab, cold rolled coil, galvanized
steel, steel tubes, wire rods, steel angles, and stainless steel sheet, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
(Taiwan)
|
Payment Terms |
Proportion |
|
|
Steel, etc |
COD, CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Steel, etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Steel, etc |
CBD, etc |
100% |
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. Chen declined to disclose its financials citing
the grounds of company’s confidentiality; from other source we can not obtain
the relevant information, either.
Subject declined to disclose its bank details; from other source we
cannot obtain the relevant information, either.
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. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.