Fxclearing.com SCAM! – Anti-Dumping Investigation No 99-02 – FXCL STOLE MONEY!

  • By:R G

 

                                                                  Philippines Anti-Cybercrime Police Groupe MOST WANTED PEOPLE List!

 

 

 

#1 Mick Jerold Dela Cruz

Present Address: 1989 C. Pavia St. Tondo, Manila

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

#2 Gremelyn Nemuco

Present Address; One Rockwell, Makati City

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

#3 Vinna Vargas

Address: Imus, Cavite 

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

#4 Ivan Dela Cruz

Present Address: Imus, Cavite

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

#5 Elton Danao

Permanent Address: 2026 Leveriza, Fourth Pasay, Manila 
Present Address: Naic, Cavite

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

#6 Virgelito Dada

Present Address: Grass Residences, Quezon City 

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

#7 John Christopher Salazar

Permanent address: Rivergreen City Residences, Sta. Ana, Manila

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

#8 Xanty Octavo 

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

 

 

 

 

 

 

 

 

 

 

#9 Daniel Boco

Address: Imus, Cavite

 

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

 

 

#10 James Gonzalo Tulabot

Permanent Address: Blk. 4 Lot 30, Daisy St. Lancaster Residences, Alapaan II-A, Imus, Cavite 
Present Address: Pasay City

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

#11 Lea Jeanee Belleza

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

#12 Juan Sonny Belleza

If you have any information about that person please call

to Anti-Cybercrime Department Police of Philippines:

Contact Numbers:

Complaint Action Center / Hotline:
Tel. +63 (8) 723-0401 local 7491
Smart/Viber: +63 961 829 8083

       

 

FXCL SCAM Company Details:

OUTSTRIVE SOLUTIONS PH CALL CENTER SERVICES

OUTSTRIVE SOLUTIONS PH CALL CENTER SERVICES



NSO statistics show total HRC imports within the POI at 340,308 MT, of which 136,000 MT originated from Russia. However, available import entries accounted for only 116,272 MT of HRC importations from Russia. Based on the latter, the volume of dumped imports was estimated at 90,500 MT or 27% of total HRC imports. Despite the possibility of being undervalued, the 27% share of dumped imports to total is not negligible. The domestic applications of HRC are in the production of welded steel pipes/tubes and general/structural fabrication. NSC also processes HRC in its cold mill to produce cold-rolled coils for the downstream industries engaged in the production of tinplates, galvanized and prepainted sheets, drums, welded pipes/tubes, household appliances and general fabrication. Since its incorporation in 1972, the company has been dedicated exclusively to the manufacture of steel pipe. Verification of the company’s records in Makati City was conducted on 26 and 31 January and 04, 14 and 15 February 2000. Information submitted to the Commission, i.e., production, sales, inventory, etc., was found to be consistent with information contained in the company’s book of records.

How the anti dumping law in the Philippines protects the Filipino exporters against this business practice?

Republic Act No. 8752, otherwise known as the “Anti-Dumping Act of 1999” (the “Act”), provides protection to a Philippine domestic industry which is being materially injured, or is likely to be materially injured by the dumping of articles imported into or sold in the Philippines.

The protestant’s inclusion of HRC with thickness below 2 mm in their counter-memorandum and citing the proceedings in the executive session of 25 January 2000 as basis is not accepted by the Commission. Philsteel Holdings Corporation is a member of FGI, an umbrella organization of galvanizing companies. The company manifested that they were adopting the DTI-BIS questionnaire as compliance to the Commission’s questionnaire. Normal values of HRC from Russia for the period 1998 be admitted as evidence for the determination of the case.

Anti-Dumping Investigation No. 99-02

As shown in Table 16, the bulk of HRC production was transferred to NSC’s cold mill for further processing to cold-rolled steel coils . The competition from imported CRC, coupled by the contracting CRC market adversely affected the operations of its hot mill. The bulk of HRC production was transferred to its cold mill for further processing to cold-rolled steel coils . Normal HRC imports posed stiff competition to the domestic industry as evidenced by their market performance from 1996 to 1998. The market share of HRC from Russia declined from 43% in 1997 to 30% in 1998. Despite the market slump in 1998, however imports from countries other than Russia managed to capture a 46% share of the Philippine market against dumped imports at 18%. Taiwan, Korea and Japan’s share of total imports is at 18%, 16% and 14%, respectively. The company had opportunity to increase market share by increasing domestic sales. NSC’s annual production was 96%, 98% and 75% of domestic consumption in 1996, 1997 and 1998, respectively.

What is the difference between predatory pricing and dumping?

‘Predatory pricing’ applies to domestic trade, and ‘dumping’ applies to international trade. ( 2) The standards for the identification of the two are different. ‘Predatory pricing’ is based on cost, while ‘dumping’ is based on the price applicable to the normal trading of domestic similar products.

Information on selling prices submitted by the company was consistent with those reflected in its sales invoices. The typical domestic applications of HRC are in the production of welded steel pipes/tubes and general/structural fabrication. NSC also processes HRC in its cold mill to produce cold-rolled coils for the downstream industries engaged in the production of galvanized and prepainted sheets, drums, welded pipes/tubes, household appliances and general fabrication. The Commission used adjusted domestic selling prices of Magnitogorsk from the months of January to August. In 1998, dumped imports from Russia were about 67% of total imports from that country, and 20% of total domestic consumption. Quarterly figures show dumped imports to be contracting in absolute terms.

Anti-Dumping Investigation No. 99-02

The cost to produce HRC was relatively higher than its imported counterpart because NSC had to import its slab requirement. Price depression occured in the 4th quarter of 1998 but this cannot be attributed to dumping because no imports of dumped HRC were recorded in that period. Novolipetsk, an identified Philippines manufacturer, was excluded in the determination of export price since it is not a direct exporter. On 09 August 1999, the DTI-BIS endorsed the protest together with its findings to the Tariff Commission for formal investigation. Under EO 465 which took effect on 22 January 1998, the tariff duty on HRC was lowered from 10% to 7% . To maintain parity or competitiveness, NSC has to adjust its prices accordingly. Except for Sidermetal Ltd, Monte Trading & Shipping , Cargill International Trading Pte Ltd. and Metalsrussia , whose dumping margins were zero or de minimis, the computed dumping margin per exporter was clearly above de minimis. “Normal value is the comparable price, in the ordinary course of trade, for the like product when destined for consumption in the exporting country”.

The company has a huge production capacity up to 16 million tons of steel making per year and up to 11 million tons of rolled metal output per year. The company suffered material injury evidenced by contraction in profits, market share, production and employment as a consequence of dumping. Several stole my deposit months of suspended operations in 1998, resulting from deficient working capital, contributed to a decline in capacity utilization. The dumping protest was endorsed by the DOF to the Bureau of Import Services of the Department of Trade and Industry on 13 October 1998 for initial investigation.

Invitations to the pre-hearing conference were sent out on 21 September 1999 to the protestant, counsel for protestees, identified importers and the Philippines Trade Representative, Mr. Nikolay T. Sychev. The imported product covered by the protest is referred to as the “product under consideration.” Export prices were adjusted to ex-works level, i.e., net of ocean freight, insurance, inland freight, transshipment services, customs’ clearance, traders’ compensation and profit, if any. Adjustments made on export price to arrive at ex-works level varied depending upon the manufacturer and port of origin. “There shall be immediate termination if the margin of dumping is de minimis. The margin of dumping shall be considered de minimis if the margin is less than 2 per cent, expressed as a percentage of the export price.” The balance is augmented by imports from countries such Russia, 30%; Taiwan, 14%; Korea, 12% and Japan 11%. “Domestic producers as a whole of the like product or to those whose collective output of the product constitutes a major proportion of the total domestic production of those products…” Based on the hearings conducted, the Commission excludes HRC of thickness below 2 mm and limits the product under investigation to thickness of 2.0 to 12.7 mm, inclusive. The Commission is satisfied that the domestic product is comparable to the product under consideration based on their respective chemical composition. Annual HRC requirements is 1,500 MT, with gauge 1.5 mm and width of 1220 mm .
scam
Figures show fluctuating patterns of slab importation and consequently production. But identified periods of production stoppages coincided with high ending inventory levels. This underscores NSC’s inability to produce HRC due to lack of working capital. The estimated Philippine market for HRC from 1996 to 1998 was contracting by an average 25%. This effected a similar contraction in sales of locally manufactured HRC and imports from countries other than Russia. As for Philippines imports, volume initially expanded by 13% in 1997, but contracted by 56% in 1998. Export price is the price paid or the selling price to an importer in the Philippines of articles purchased at arms length transaction, excluding any post exportation charges, such as, ocean freight and overseas insurance. This is primarily due to NSC’s lack of slab-making facility and the price of its imported slab is high. Situated atop Magnitnaja mountain, the company claims a comparative advantage over its foreign competitors, given the vast iron ore deposits and sustainable and cheap supply of raw materials and fossil-fuels in the region. Domestic sales are based on the price list in effect at the time of sale which are revised from time to time depending on changing market conditions, fluctuations of raw material prices and inflation in Russia.

Anti-Dumping Investigation No. 99-02

Below is the historical development of tariff rates for the product under consideration. As mentioned earlier, the domestic industry produces HRC based on various JIS/ASTM specifications. The affidavits of protestees’ two witnesses did not question the quality of the domestic product and admitted that they purchased HRC in various sizes from NSC and abroad. The following importers who were identified but did not cooperate and failed to submit their answers to the questionnaire, namely, Topmark Steel Corp., Thomson Marketing Corp., Steel Pro Pipe Corp., Starline International Marketing, Inc., Rigid Metal Mfg. Corp., Remington Industrial Sales Corp., Power Construction Supply Co., P.I. Hardware and Mills Supply, Metal Trade Supply Center, Inc., Orbital Industrial Supply, Inc., Marketing Proponents, Inc., Magnitude Steel Mfg. A faxed letter from the company was received by the Commission on 14 September 1999 informing that Gorkovesky did not export HRC to the Philippines and therefore has not responded to the questionnaire sent by the Commission. Export sales are covered by long-term contracts with trading companies/resellers who take possession of the merchandise at the ports in Russia or the Baltic States. The details of contracts are generally agreed between the company and the trading companies. The company has 45,257 total employees of which 2,840 are directly involved in HRC production.

BIS identified Russia as the primary source country of the allegedly dumped imports of HRC and recommended the initiation of a preliminary anti-dumping investigation. The notice of initiation of investigation was published in the Philippine Daily Inquirer and Philippine Star on 27 February 1999. The cost to produce and sell a metric ton of HRC was 21% higher in 1998 than in 1997. This was attributed to a 22.40% increase in the peso price conversion of slabs and low capacity utilization. These resulted in an increase in direct material cost by 28.9% and in fixed cost by 102.70%. Inventory levels sustained from 1996 to 1998 confirm that normal imports were competing actively with domestic production.

The share of dumped imports to domestic consumption was decreasing from 29% in the 1st quarter, to 18% in the 2nd quarter, and increasing to 26% in the 3rd quarter. Thus, for exporters of HRCs originating from Russia whose manufacturers cannot be identified or did not submit data, the adjusted domestic selling prices and constructed normal value of Magnitogorsk was used. NSC’s hot mill has an annual rated capacity of 1.0 million MT. The company’s capacity utilization fell by an average 67%, from 793,000 MT in 1996 to 690,000 MT in 1997, and to 336,000 MT in 1998. Several months of suspended operations 1998, resulting from deficient working capital, contributed to a decline in capacity utilization. On 24 February 2000, the Commission conducted an ocular inspection and verification of information contained in the company’s submission of purchases from NSC as well as its importations. The company exports its products to the international market through unaffiliated foreign trading companies who buy from the company on the FCA Terms or FOB Port Terms. Export sales are negotiated with foreign trading companies from time to time and are set forth in contracts called “specifications”. Magnitogorsk, located in Magnitogorsk, Chelyabinsk Region, Russia, is an integrated steel maker and the third largest steel making in Russia. It is the first metallurgic plant to be transformed into a joint stock company at the end of 1992.

The Commission, based on the standards followed by the domestic industry, determines that the domestic HRC in terms of quality is comparable to the product under consideration. An ISO 9002 certified company, whose commercial cold-rolling/galvanizing operations started only in March 1999. It was registered with the BOI under RA and is entitled to several incentives including availment of a zero tariff incentives on its major raw material – HRC. It has sister companies, namely, PhilSteel Coating Corp., PhilMetal Corp. and SteelFrame Corp. Cargill sent its duly accomplished questionnaire on 27 September 1999. It provided data on the company’s total export sales to the Philippines, list of local customers and export sales to other countries with corresponding commercial invoices. NSC’s relatively low and obsolete technology employed in its equipment/manufacturing process has resulted to delay in production, reduce capacity utilization which caused the company to incur non-competitive costs.

Posted in: Forex Reviews