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MIRA INFORM REPORT
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Report No. : |
488503 |
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Report Date : |
27.01.2018 |
IDENTIFICATION DETAILS
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Name : |
AMERICA CHUNG NAM LLC |
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Registered Office : |
1163 Fairway Dr City of Industry Ca 91789 |
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Country : |
United States |
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Year of Establishment : |
1990 |
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Legal Form : |
Corporation |
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Line of Business : |
· Subject buys, sells, and exports a range of recovered paper grades, including mixed, ONP, magazines, OCC, DLK, office paper, and other paper grades. · The company also recycles plastic grades, including polyethylene terephthalate, high density polyethylene, low density polyethylene, PP, PS, ABS, commingled plastics, and other engineering plastics. It supplies paper to consumers of recovered paper in the United States and internationally. |
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No. of Employees : |
200 |
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 : |
Slow but correct |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 $57,300. 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 nearly 55% 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, making
this 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 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 2014, the direct costs of the wars totaled
more than $1.5 trillion, according to US Government figures.
In March 2010, President OBAMA signed into law the Patient Protection
and Affordable Care Act, 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 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%. In
late 2013, the Fed announced that it would begin scaling back long-term bond
purchases to $75 billion per month in January 2014 and further reduce them as
conditions warranted; the Fed ended the purchases during the summer of 2014. In
2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by
mid-2015, the lowest rate of joblessness since before the global recession
began; inflation stood at 1.7%, and public debt as a share of GDP continued to
decline, following several years of increases. 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 US GDP growth below 2%, the Fed has opted to
raise rates three times since then, and in mid-June 2017, the range for the
target rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
AMERICA CHUNG NAM LLC |
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Trade Name: |
AMERICA CHUNG NAM |
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ID: |
200815810215 |
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Date Created: |
1990 |
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Date Incorporated: |
06/05/2008 |
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Legal Address: |
1163 Fairway Dr City Of Industry Ca 91789 |
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Operative Address: |
1163 Fairway Dr City Of Industry Ca 91789 |
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Telephone: |
(909) 839-8383 |
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Fax: |
909-869-6310 |
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Legal Form: |
Corporation |
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Email: |
- |
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Registered in: |
CALIFORNIA |
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Website: |
www.acni.net |
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Contact: |
John Wong |
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Staff: |
200 |
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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 1990. |
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Parent Company: |
America Chung Nam LLC operates as a subsidiary of:
1163 Fairway Drive City Of Industry, CA 91789 United States |
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PRINCIPAL
ACTIVITY
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America Chung Nam LLC buys, sells, and exports a range of recovered
paper grades, including mixed, ONP, magazines, OCC, DLK, office paper, and
other paper grades. |
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Products/Services description: |
The company also recycles plastic grades, including polyethylene
terephthalate, high density polyethylene, low density polyethylene, PP, PS,
ABS, commingled plastics, and other engineering plastics. It supplies paper
to consumers of recovered paper in the United States and internationally. |
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Brands: |
The company does not have any brands. |
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Sales are: |
Wholesale |
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Clients: |
DONGGUAN NINE DRAGONS PAPER |
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Suppliers: |
Alcamare, S De Rl De Cv |
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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 |
CHINA |
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The subject employs |
200 employees |
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Payments: |
Slow but correct |
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LOCATION
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Headquarters : |
1163 FAIRWAY DR CITY OF INDUSTRY CA 91789 |
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Comments on Address: |
- |
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Branches: |
California 1163 Fairway Drive City of Industry, CA 91789 (909) 839-8383 New Jersey 221 River Street, 9th Floor Hoboken, NJ 07030 (201) 333-6008 |
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Related Companies: |
The company has several sister companies: Rotterdam Lichtenauerlaan 30 3062 ME Rotterdam, The Netherlands (31-10) 201-0838 Manchester Egerton House, Suite 10 Towers Business Park Didsbury Manchester M20 2DX (+44-161) 249-1128 Japan, Tokyo 6-2-3 Asakusa Taito-Ku, Tokyo 111-0032, Japan (81-3) 5808-6969 Japan, Osaka Room 403, Neofisu Sakaisuji Honmachi, 1-9-6 Kitakyu Hojimachi Chuo-Ku, Osaka 816-4708-8268, Japan Seoul, Korea Room 1101, Halla Classic 824-11 Yeoksam I-dong, Gangnam-Gu Seoul 06233, Korea Dongguan, China Xinsha Port Industry Zone Mayong Town, Dongguan Guangdong Province, China |
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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: |
America Chung Nam LLC operates as a subsidiary of: America Chung Nam Group Holdings, Inc. 1163 Fairway Drive City Of Industry, CA 91789 United States |
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Management: |
Ken Liu - Chairman John Wong - Vice President Faye Zhang - Managing Director Mr. Peter Wang - Chief Executive Officer Ms. Yan Cheung - Co-Founder and President Mr. Ming Chung Liu - Co-Founder Kevin Zhao - Chief Financial Officer Niels Van Binsbergen - Managing Director of Europe & United
Kingdom |
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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 2015 |
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Revenue |
$221.893.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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CASES |
No found. |
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TRADEMARKS |
AMERICA CHUNG NAM IMPORT AND EXPORT AGENCY FEATURING WASTE MATERIALS Owned by: America Chung Nam, LLC. Serial Number: 76528307 |
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RENEWAL HISTORY |
Document Type File Date SI-COMPLETE 06/13/2016 SI-COMPLETE 10/19/2015 REGISTRATION 06/05/2008 |
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UCC |
No records found. |
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SUMMARY
Founded in 1990, America Chung Nam Llc is a mid-sized organization in
the scrap and waste material companies industry located in City Of Industry,
CA. It has 200 full time employees and generates an estimated $221.8
million in annual revenue. The company mainly imports from MEXICO. It operates nationally and
internationally. It is ACTIVE in business with no negative records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Slow but correct |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
Mary |
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POSITION |
Secretary |
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COMMENTS |
She confirmed the name of the company, the address of the headquarters
and location, the date of creation of the company and the name of the CEO. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.50 |
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1 |
INR 90.92 |
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Euro |
1 |
INR 79.07 |
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US Dollar |
1 |
INR 63.59 |
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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VAR |
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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.