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MIRA INFORM REPORT
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Report No. : |
504263 |
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Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
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Name : |
NEWPORT CH INTERNATIONAL, LLC |
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Registered Office : |
1100 W Town and Country Rd Ste
1388, Orange CA 92868 |
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Country : |
United States |
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Financials (as on) : |
2016 (Summarized) |
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Date of Incorporation : |
07.08.2003 |
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Legal Form : |
Domestic Limited Liability Company |
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Line of Business : |
·
Wholesalers of Recyclable Material · Subject is a mid-sized organization in the scrap and waste material companies industry |
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No. of Employees : |
46 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $59,500. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.
Imported oil accounts for more than 50% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and former President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through FY 2018, the direct costs of the wars will have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient Protection and Affordable Care Act (ACA), a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the former president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. The Fed ended its purchases during the summer of 2014, after the unemployment rate dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of GDP. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With continued low growth, the Fed opted to raise rates several times since then, and in December 2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the Tax Cuts and Jobs Act, which, among its various provisions, reduces the corporate tax rate from 35% to 21%; lowers the individual tax rate for those with the highest incomes from 39.6% to 37%, and by lesser percentages for those at lower income levels; changes many deductions and credits used to calculate taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do not obtain the minimum amount of health insurance required under the ACA. The new taxes took effect on 1 January 2018; the tax cut for corporations are permanent, but those for individuals are scheduled to expire after 2025. The Joint Committee on Taxation (JCT) under the Congressional Budget Office estimates that the new law will reduce tax revenues and increase the federal deficit by about $1.45 trillion over the 2018-2027 period. This amount would decline if economic growth were to exceed the JCT’s estimate.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal
Name: |
NEWPORT CH INTERNATIONAL, LLC |
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Trade
Name: |
NEWPORT CH INTERNATIONAL, LLC |
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ID: |
200323010046 |
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Date
Created: |
2003 |
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Date
Incorporated: |
8/07/2003 |
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Legal
Address: |
1100 W TOWN AND COUNTRY RD STE
1388 ORANGE CA 92868, USA |
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Operative
Address: |
1100 West Town and Country Road Suite 1388 Orange, CA 92868 United States |
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Telephone:
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(714) 572-8881 |
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Fax: |
(714) 572-8881 |
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Legal
Form: |
Domestic Limited Liability Company |
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Email: |
Jimmy Yang – Export Sales:
jyang@newportch.com |
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Registered
in: |
California |
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Website:
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Contact: |
Hamilton Wen, President |
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Staff: |
46 |
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Activity: |
Recyclable Material Wholesalers Industry |
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BANKS
The company does not make its banking data public |
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HISTORY
The company was founded in 2003 |
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PRINCIPAL
ACTIVITY
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Newport Ch International, Llc is a mid-sized organization in the scrap
and waste material companies industry located in Orange, CA. |
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Products/Services description: |
Newport CH International LLC,
an international trading company, engages in the purchase and direct export
sale of recyclable paper, plastics, metals, and hay products for mills and
manufacturing facilities. It focuses on trading, brokering, marketing, and facilitating
the entire process for clients. The company focuses on the purchase and
direct export sale of recyclable paper, plastics, metals and hay. The company
offers office paper, mix paper, and coated book stock; HDPE products, drip
tapes, PET products, LDPE products, and PP twine products; HMS, busheling,
non-ferrous, PNS, and copper non-ferrous metals; and more. It serves its
customers in the United States and internationally. PRODUCTS: PAPER PLASTIC METAL HAY |
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Brands: |
NA |
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Sales are: |
Wholesale |
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Clients: |
The company is direct export
shipper for the recycling industry, supplying numerous mills in China, as
well as other Asian countries. Newport CH's offices in London
and Amsterdam expand the company`s services by exporting material from the UK
and European locations to Asia. To Ningbo Asia Pulp And Paper
Co.Lt Norway SAMJUNG PULP CO., LTD. South Korea The Ck Co Ltd South Korea Shree Ajit Pulp & Paper
Ltd. India Indo Afrique Paper Mills Pvt
Ltd. India Hangzhou Dongzhen Trading Co.,
Ltd China |
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Suppliers: |
METALES FIBRAS Y PLASTICOS ARJAMEX S DE RL DE CV Mexico Comercializadora Punto NorteŃo, S De Rl De Cv Mexico Monica Sanchez Ortiz Mexico |
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Operations area: |
National and International |
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The company imports from |
Mexico |
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The company exports to |
Norway, South Korea, India and
China |
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The subject
employs |
46 employees |
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Payments:
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No Complaints |
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LOCATION
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Headquarters
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1100 West Town and Country Road Suite 1388 Orange, CA 92868 United States |
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Comments: |
NA |
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Branches: |
The company does not have
branches in USA |
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Related
Companies: |
The company has additional offices in Shanghai,
China; London, United Kingdom; and Amsterdam, the Netherlands. Canusa Hershman Recycling Company 45 Northeast Industrial Road Branford, CT 06405 United States NCH China Pan Bo No. 1258 Yu Yuan Road, Room 810 Green Land Business Center Shanghai, China 200050 86.21.32200243 |
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Main
Competitors: |
California Paper Stock 377 S Glassell St Ste 100 Newell Recycling Southeast, Llc 2411 N Glassell St Coast Metals Llc 655 S Main St Ste 200-360 A1 Auto & Truck Recycling Inc 815 N Batavia St Dean Kline 2823 N Auburn St Apt K |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a private company. Major holder is: Richie Chen |
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Management: |
Richie Chen, Owner Hamilton Wen, President Jim Fagelson, Vice President Mike Milby, Chief Financial Officer Jimmy Yang – Export Sales: jyang@newportch.com Jim Fagelson – Purchasing: jfagelson@newportch.com Clark Hahne – Purchasing: chahne@newportch.com Michael Kelso – Sales & Purchasing:
mkelso@newportch.com Hamilton Wen – Sales & Purchasing, Plastic:
hwen@newportch.com Eddy Kuo – Sales & Purchasing, Plastic/Metal:
ekuo@newportch.com Todd Reagan– Sales & Purchasing, Plastic:
treagan@newportch.com Johnny Noh- Sales & Purchasing:
jnoh@newportch.com |
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FINANCIAL
INFORMATION
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The company does not make its financial statements public. The
following information has been provided by private sources: |
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USD 2016 |
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Net
Assets |
3 046
000 |
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Cash
flow |
Normal |
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LEGAL
FILINGS
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CASES |
Jordan Intl. Trading v Yang Annotate this Case [*1] Jordan Intl. Trading v
Yang 2004 NY Slip Op 50245(U) Decided on April 6, 2004 Supreme Court, Ulster
County, Published by New York State Law Reporting Bureau pursuant to
Judiciary Law § 431. This opinion is uncorrected and will not be published in
the printed Official Reports. Decided on April 6, 2004 Supreme Court, Ulster County, JORDAN INTERNATIONAL TRADING
INC. And BAYSIDE INTERNATIONAL INDUSTRIES, Plaintiffs, against JIM YANG, JIM FAGELSON, CLARK
W. HAHNE, CANUSA HERSHMAN RECYCLING COMPANY and NEWPORT CH INTERNATIONAL LLC,
Defendants. INDEX NO. 03-2830 McNamee, Lochner, Titus &
Williams, PC Attorneys for Defendant Canusa
Hershman Recycling Company 75 State Street PO Box 459 Albany, NY 12201-0459 Glen P. Doherty, Esq. (of
counsel) Holland & Knight LLP Attorneys for Plaintiffs 195 Broadway New York, NY 10007 Susan H. Joffe, Esq. (of
counsel) Thomas J. Spargo, J. |
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RENEWAL
HISTORY |
Document Type File
Date SI-NO CHANGE 07/14/2017 SI-COMPLETE 09/26/2011 REGISTRATION 08/07/2003 |
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UCC |
No found |
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OFAC Sanctions List Search |
The company is not listed
in the OFAC list. |
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SUMMARY
Founded in 2003, Newport Ch International, Llc is a
mid-sized organization in the scrap and waste material companies industry
located in Orange, CA. The company has 46 full-time employees and generates
an estimated USD3 million in net assets. The company mainly imports from Mexico, and exports
to Norway, South Korea, India and China, operating within national and
international markets. This is an ACTIVE company incorporated in CALIFORNIA
in 2003. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No Complaints |
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CASH
FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW
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NAME |
Clark Hahne |
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POSITION |
Human Resources |
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COMMENTS |
The person contacted confirmed name,
address, website, staff number, email, activity, and operations area. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.68 |
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1 |
INR 93.98 |
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Euro |
1 |
INR 81.30 |
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USD |
1 |
INR 65.80 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.