MIRA
INFORM REPORT
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Report Date : |
19.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
YEUAN PARNG ENTERPRISES CO LTD |
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Registered Office : |
12, Lane 156, Chi Nan 1st Rd Chishan Chen Kaohsiung Hsien
842 |
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Country : |
Taiwan |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
May 26, 1984 |
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Com. Reg. No.: |
85705330 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing, distribution and warehousing of food oil and industrial oil
products. |
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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Maximum Credit Limit : |
USD 30,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
YEUAN PARNG ENTERPRISES CO LTD
12, LANE 156, CHI NAN 1ST RD CHISHAN CHEN KAOHSIUNG HSIEN 842,
TAIWAN
TEL : 886-7-6613826
FAX : 886-7-6613680
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 26, 1984
REGISTRATION NO. :
85705330
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE : MR. FANG-CHIH KUO (CHAIRMAN)
STAFF STRENGTH :
5
CAPITAL :
US$ 271,003
BUSINESS LINE :
IMPORTER
TURNOVER :
$1,863,823.06 (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : USD
30,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.175 = US$1 AS OF 2007-4-19
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –Taiwan New Dollars
*Company Registration*
===================
License number : 85705330
Date issued : 26 May, 1984
Issuing authority : Ministry of
Economic Affairs (MOEA)
*Office & Facilities*
===============
Size : 170sq. meter (Approx)
Location : Kaohsiung Hsien
Facilities : Semi-modern
Property status : Rented
Type of building : 2-storey building
Comments : Serves as office and warehouse.
Other Contact Details
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Tel no : 7-2617269
Fax no : 7-2168267
E-mail : yp.k13680@msa.hinet.net
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
Web
site: www.yeuanparng.com.tw The design is professional and the content is
well organized. At present it is both in Chinese and English versions.
Email : jann.chiu@msa.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No of
Shares
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Mr. Fang-chih Kuo 6,400,000
Management : Ms. Jann Chiu, Manager
Mr.
Fang-chih Kuo, President
*COMPANY MANAGEMENT*
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Name Nationality
Job Description Dept. / Division
Ms. Jann Chiu Taiwanese
Manager Import
Mr. Fang-chih Kuo Taiwanese
President -
*Key Personnel*
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Mr. Fang-chih Kuo
Founder :
Co-founder
Birth place : Taiwan
Resident status : Taiwan
Mobile : 886-932780446
Work experience : More than 15 years experience.
Responsibilities : Handles the
daily operation of the firm including all financials, sales and legal matters.
Ms. Jann Chiu
Special line nos. : 7-2617269 /
2617267 / 2168267
Mobile :
886-919755656
Email :
jann.chiu@msa.hinet.net ; jann.chiu@hotmail.com
SKYPE ID : jannchiu
*Main Products & Services*
======================
Specializes in importing, distribution and warehousing of food oil and
industrial oil products.
Product lines include:
1. Castor Oil
- Commercial Grade
- First Grade
- Pale Pressed Grade
- B.P. Grade (Medical)
2. Tung Oil
3. Linseed Oil
- Refined for Alkali use
4. Coconut Oil
- Commercial Grade
- Refined/ Edible
5. Coconut Oil Fatty Acid
- Philacid 1218
- Philackd 0818, Philacid
0810
6. Coconut Fatty Acid
- CFAD
7. Gum Rosin
- WW, WG
Products : Castor meals
Castor oil
Chemical
products
Chemicals
Coconut oil
*Brand*
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Yeuan Parng
*Payment Terms*
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Sales
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Local : Cash
30 - 90 days credit
Purchase
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Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A) settlement using Bankwire transfer (T/T)
*Competitors*
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The following locally based companies supply similar range of products :
- CHIN MING TRADING CO LTD
-YUMBO INDUSTRIAL CORP
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*Imports*
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Products
Country
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Castor Oil India
Castor Meal India
Tung Oil China
Linseed Oil
Europe
*Importer Agency Listing*
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Supplier : UNITED COCONUT CHEMICALS INC
Country of Origin : Philippines
Product Description : Coconut Oil
Brand : Cocochem
Year : 2000
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES : 48
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
*Bank Details*
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Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Central Dist,Taichung City
Branch Address : 38 Tzu Yu Rd Section 2 Central Dist Taichung City 400
(Head Office)
SWIFT Code : CCBCTWTP
As a private limited company with a paid-up capital of less than USD 6
million, there is no legal requirement according to local corporate law for
public disclosure of detailed financials.
*Financial Summary (Currency:
U.S. $'s)
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Year Sales Assets Net Income
2005 $1,863,823.06 $379,146.92 $203,475.51
*Int´l Trade Activity (Currency:
U.S. $'s)
===============================
Year Imports Exports Total
2003 $850,000.00 $0.00 $850,000.00
2004 $1,250,000.00 $0.00 $1,250,000.00
2005 $1,400,000.00 $0.00 $1,400,000.00
*TRADE STATISTICS (Currency: U.S. $'s)
=================================
Year Imports Exports Total
1998 $684,000.00 n/a
$684,000.00
1999 $710,000.00 n/a
$710,000.00
2000 $670,000.00 n/a
$670,000.00
SC is considered small-sized in its line with a long operating history.
It is considered a credit line up to USD 30,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2079 Shortening,
table oils, margarine and other edible fats and oils Importing
2099 Food products
Importing 2800 Chemicals
and Allied Products
Importing 2899 Chemical
preparations
Importing 5169 Chemicals/Allied
Prdts, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 1515110000 Linseed oil and its fractions, crude, not chemically modified
Importing 1515190000 Linseed oil and its fractions, refined, not chemically modified
Importing 1515300000 Castor oil and its fractions, whether or not refined but not
chemically modified
Importing 1515302000 Castor oil and its fractions, crude, not chemically modified
Importing 1515400000 Tung oil and its fractions, whether or not refined but not
chemically modified
Importing 1517909090 Edible animal or vegetabe fats or oils or fractions thereof,
other than those of
heading
1516
Importing 1518000000 Animal or vegetable fats & oils/their fractions, boiled,
oxidized, etc; inedible
mixtures
or preparations of animal or vegetable fats and oils
Importing 2306900000 Vegetable oilcake and other solid residues resulting from the
extraction of
vegetable
fats or oils, whether or not ground or in pellets
Importing 3806100010 Gum rosin
Importing 3823130000 Tall oil fatty acids
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Importing Fatty acids
Importing Food, oil
Importing Gum rosin
Importing Industrial oil
Importing Linseed oil
Importing Sesame oil
Importing Tung oil
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from Asia
Importing from China
Importing from Europe
Importing from India
Importing from Pakistan
Importing from Philippines
Importing from Vietnam
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)