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Report No. : |
352683 |
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Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SIGMA BROTHERS INC. |
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Registered Office : |
No.24, Tai-Chi Rd., Hsiao-Kang Dist., Kaohsiung, R.O.C |
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Country : |
Taiwan |
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Date of Incorporation : |
07.05.1981 |
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Com. Reg. No.: |
69690873 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sales of Metal Products. |
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No. of Employees : |
About 1,600 Employees (Whole Group) |
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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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Taiwan |
A1 |
A1 |
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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 |
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. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are other major long-term challenges.
Free trade agreements have proliferated in East Asia over the past several years. Following the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013 signed a free trade deal with New Zealand - Taipei’s first-ever with a country with which it does not maintain diplomatic relations - and, in November, inked a trade pact with Singapore. However, follow-on components of the ECFA, including a signed agreement on trade in services and negotiations on trade in goods and dispute resolution, have stalled. In early 2014, the government bowed to public demand and proposed a new law governing the oversight of cross-Strait agreements, before any additional deals with China are implemented; the legislature has yet to vote on such legislation, leaving the future of ECFA up in the air as President MA enters his final full year in office. MA has portrayed ECFA as Taiwan’s key to greater participation in East Asia’s free trade networks.
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 expected to account for nearly 20% of the island's total population by 2025.
The island runs a trade surplus, largely because of its surplus with China, and its foreign reserves are the world's fifth largest, behind those of China, Japan, Saudi Arabia, and Switzerland. 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. Taiwan since 2009 has gradually loosened rules governing Chinese investment on the island and has also secured greater market access for its investors in the mainland. In August 2012, the Taiwan Central Bank signed a memorandum of understanding (MOU) 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 has helped Taiwan develop into a local RMB hub.
Closer economic links with the mainland bring greater opportunities for Taiwan’s economy but also pose new challenges as the island becomes more economically dependent on China at a time when political differences remain unresolved. During 2014, the press paid increasing attention to domestic economic issues, while pushing aside the debates over trade liberalization that were a hallmark of MA’s tenure. The media focused on the divide between Taiwan’s “haves” and “have nots,” providing extensive coverage of public frustration with stagnant wages, skyrocketing housing prices, and the difficulty of finding decent entry-level jobs.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.24, Tai-Chi
Rd., Hsiao-Kang Dist., Kaohsiung, Taiwan, R.O.C |
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Supplied Address: |
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Telephone Number: |
+886-7-801-9111 |
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Fax Number: |
Notes: The exact name and
address are as above.
Subject was incorporated
on 1981-5-7 with registered number 69690873
as Joint Stock Company in Taiwan.
Factory
|
Address: |
No.24, Tai-Chi Rd., Hsiao-Kang Dist.,
Kaohsiung, Taiwan, R.O.C |
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Date of Foundation: |
1987-7-22 |
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Date of Registration: |
1987-7-22 |
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Factory Registration Number: |
64004193 |
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Factory Manager: |
Shuhua Huang |
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Status: |
In production |
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Date of Last Annual Return: |
2006-4-14 |
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Major Products: |
243 copper 242 aluminum 249 other basic metal |
Major Related
Companies
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1 |
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Name |
Shanghai Sigma Metals, Inc |
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Address: |
NO.369 Fu-Lian 3rd Road, Bao-Shan Dist. Shanghai 201906，China |
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TEL |
+86-21-3604-1818 |
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FAX |
+86-21-3604-1115 |
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2 |
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Name |
Zhangzhou Sigma Metals, Inc |
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Address: |
Tsann Kuen Industrial Park, Longchi Development Zone, Zhangzhou,
Fujian, China |
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TEL |
+86-596-6767-111 |
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FAX |
+86-596-6798-308 |
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3 |
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Name |
Chongqing Sigma Metals Inc. |
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Address: |
Yongchuan Development Area, Chongqing, China |
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TEL |
+86-23-4940-3666 |
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FAX |
+86-23-6754-2401 |
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4 |
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Name |
Shanghai Sigma Metals DongGuan Co. |
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Address: |
Room 803, Hui-Cheng Building, Hongfu Road, Nan Cheng Dist. Dongguan
City, Guangdong province, China |
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TEL |
+86-769-2366-2320-21 |
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FAX |
+86-769-2366-2329 |
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5 |
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Name |
Global Metal Industrial Corp. |
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Address: |
754 Route 18 North Suite 102,East Brunswick, New Jersey 08816 |
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TEL |
+1-732-432-9755 |
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FAX |
+1-732-432-9759 |
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6 |
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Name |
Rizhao Sigma Metals Inc. |
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Address: |
Rizhao Economic Development Zone 300 Chengdu Road |
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TEL |
+86-0633-2181111 |
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FAX |
+86-0633-2178739 |
Major Shareholders
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Name |
Subscription Shares |
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Shuhua Huang |
230,000 |
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Yaobin Huang |
1,338,000 |
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Shufen Huang |
610,000 |
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Biling Cai |
1,008,000 |
Core Management
Directors
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1 |
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Name |
Shuhua Huang |
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Position |
Board Chairman |
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2 |
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Name |
Yaobin Huang |
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Position |
Director |
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3 |
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Name |
Shufen Huang |
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Position |
Director |
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4 |
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Name |
Biling Cai |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 1,600 Employees (Whole Group) |
Offices & Factories
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Headquarters |
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Add |
No.24, Tai-Chi Rd., Hsiao-Kang Dist., Kaohsiung, Taiwan, R.O.C |
Production Information
Subject is engaged in manufacturing of metal products and etc.
Subject has a factory in Taiwan for production. It is introduced that
subject’s related companies has factories in the mainland of China for
production.
Purchase Information
The registered activities of subject:
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Details |
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1 |
Manufacture and trade of aluminum alloy and the related products |
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2 |
Manufacture and trade of zinc alloy and the related products |
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3 |
Manufacture and trade of metal and components |
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4 |
Manufacture and trade of regeneration aluminum, zinc products |
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5 |
Import and export of hardware and metal |
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6 |
The agent and marking price of the domestic and oversea manufacturers’
above related products. |
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7 |
Related importing and exporting business. |
Subject purchases its raw materials and etc both at home and abroad.
It is introduced that subject purchases some finished products from the
related companies’ factories in the mainland of China.
Subject is engaged in sale of metal products and etc.
The major products include aluminium alloy ingots, zinc alloy ingots,
metal scrap and etc.
Subject’s sales regions include Asia, Europe, America and etc.
Subject’s major customers are manufacturers and designers of automobile,
agriculture and commercial machineries, electronic/communication products,
instruments, and other household products, etc.
It is introduced that subject is selling some products with the brand
named SBI.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
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Products |
Raw materials and etc |
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Payment Terms |
Cash, T/T and etc |
Import
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Products |
Raw materials and etc |
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Payment Terms |
L/C, T/T and etc |
Sales
Domestic Markets
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Product |
Metal products and etc. |
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Selling Terms |
Cash, T/T and etc |
Export
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Product |
Metal products and etc. |
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Selling Terms |
L/C, T/T and etc |
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. Wang declined to
disclose its financials citing the grounds of company’s confidentiality; from
other sources we could not obtain such information, either.
Subject declined to disclose its bank details; from other source we
could not 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.
Interview Details
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Name |
Ms. Wang |
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Department |
Sales Department |
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E-mail |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.84 |
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|
1 |
Rs.101.04 |
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Euro |
1 |
Rs.73.05 |
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TWD |
1 |
Rs.2.04 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 Business |
-- |
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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.