MIRA
INFORM REPORT
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Report Date : |
14.06.2007 |
IDENTIFICATION DETAILS
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Name : |
YUEN NENG CO LTD |
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Registered Office : |
1FL |
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Country : |
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Date of Incorporation : |
June 24, 1995 |
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Com. Reg. No.: |
89565917 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Research and development of technologies related to 30um steel wires
& nickel alloy. Manufacturing of various types stainless steel and alloy wire
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 : |
Up To US$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
YUEN NENG CO LTD
1FL
TEL : 886-6-3841088
FAX : 886-6-3841099
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 24, 1995
REGISTRATION NO. :
89565917
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MR. ALVIN LIN-CHUN WEI (CHAIRMAN)
STAFF STRENGTH :
70
CAPITAL :
US$ 1,806,685
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.1098 = US$1 AS OF 2007-6-14
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
*Company History*
===============
October 1995 -
Headquarters facility was established in Heshun Industrial Area,
December 1995 - Started
production of wire products for
February 1997 - Employee
support committee was established to improve employee experience at Yuen
Neng.
August 1997 - ISO 9000 team
was established to prepare for certification.
February 1998 - ISO 9002
certification implementation was started.
August 2000 - Research
partnership with the Metals Research Lab at
April 2001 - ESR
research & development center was converted.
-
Research partnership with
established.
January 2002 - Wire research
& product development department was officially established.
March 2003 - Signed a
Technology Authority contract with CHUNG-SHAN INSTITUTE OF SCIENCE &
TECHNOLOGY (Metallurgy Division Materials
& Electro-Optics Research Division)
April 2003 - Approved
by
Training in Metal Industry" plan.
*Company Registration*
===================
License number : 89565917
Date issued : 24 June,
1995
Issuing authority : Ministry of
Economic Affairs (MOEA)
Type of license : A company
owned by shareholders, incorporated with limited liability and confirmed with
the
respective Government authorities to
legally exist.
*Licenses & Permits*
================
License number : 9967695500
Date issued : 18 May 2005
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Capital Details*
=============
Initial registered capital : USD 600,000.00
Capital increase : NTD
60,000,000.00
Date of increase : N/A
*Office & Facilities*
===============
Size
: 6,107 square meters (Approx.)
Location :
Facilities :
Modern
Type of building :
Industrial building
Property status :
Owned by YUEN NENG CO LTD
Comment :
Serves as office, factory and warehouse.
Other e-mail addresses : stella@yuenneng.com
/ quality@yuenneng.com
/ eva@yuenneng.com
Previous Contact Details
-----------------------------------
Address : 37 Yung
An 2nd St
Tel No. :
6-3558400
Fax No. :
6-3558429
*Corporate & Organization Structure*
=============================
A medium specialized company operated and managed by the owner, family members and a professional management team.
Organizational Chart
----------------------------
Chief Executive
Officer ---- Wire
Annealing Section
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|--- Wire Drawing Section
YUEN NENG Factory
Manager |--- Dies
Processing Section
| |---
Manufacturing Section
YUEN NENG R&D
Department --------------- Quality Assurance Section
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| ------ ITRI R&D
Partnership
-----------|------ CSIST R&D Partnership
|------ NCKU R&D
Partnership
------ FCU R&D Partnership
*Machinery & Equipment*
====================
Machinery/ Equipment include:
- High Performance Wire Drawing Machine
- High Performance Bright Annealing Furnace
- High Precision Testing & Inspection Equipment
R&D Team
----------------
- Light Microscope
- Polishing Machine
- Tensile Tester
- Ultra-sonic Drawing Dies Machine
- Wire Polishing Machine
- Wire Rolling Machine
- High Speed Wire Drawing Machine
- Bright Annealing Furnace
- Laser, High-precision Wire Inspection & Testing Equipment
R&D Partnership with ITRI
------------------------------------
- SEM Electronic Microscope
- EDS Analysis System
- DSC Heat Analysis System
R&D Partnership with CSIST
----------------------------------------
- 1.5 Ton Vacuum Induction Melting Furnace
- 1.5 Ton Vacuum Vacuum Arc Remelting Furnace
- Vacuum Arc Skull Melting Furnace
- Vacuum Induction Skull Melting Furnace
- Vacuum Hot Treatment Furnace
- L-200 Vacuum Arc Remelting Furnace
- Vacuum Plasma Coating System
- Air Plasma Coating System
R&D Partnership with NCKU
---------------------------------------
- Rolling Machine
- Vibration Tester
- Friction-stirring Welding Machine
- Electrical Discharge Machine
- High Frequency Induction Furnace
- Tensile Test Machine
- Extrusion & Mounting Machine
R&D Partnership with FCU
-----------------------------------
- Light Microscope
- High Speed Cutter
- Mounting & Polishing
- 100 Ton Forming Machine
- Impact Tester
- Vickers Hardness
- Rockwell Hardness
*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.yuenneng.com The design is professional and the content
is well organized. At present it is both in Chinese and English versions.
Email :
yuenneng@ms9.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
===================
Shareholders' Name
No. of Shares
--------------------------- ------------------
Mr. Lin-chun Wei 131,000
Mr. Tzu-neng Wei 170,000
Mr. Tzu-hsia Wei 170,000
Ms. Yueh-chan Wei 85,000
*COMPANY MANAGEMENT*
=========================
Name Nationality
Job Description Dept. / Division
Mr. Kuo Taiwanese
Manager Finance
Ms. Ya-chin Tsan Taiwanese
Manager Human Resources
Mr. Wei-shun Lin Taiwanese
Manager Marketing
Mr. Jerry Min-tse Wu Taiwanese
Manager Purchasing
Mr. Chi-tai Huang Taiwanese
Manager R&D
Mr. Yun-hung Chou Taiwanese Manager Sales
Mr. Tzu-neng Wei Taiwanese
General Manager -
*Key Personnel*
=============
Mr. Shu-uao Wei
Founder : Sole
founder
Former position : Chairman
Replaced by : Mr. Alvin
Lin-chun Wei
Mr. Alvin Lin-chun Wei
Founder : Co-founder
Born :
Work experience : More than 15 years experience.
Responsibilities : Handles the daily operation of the firm
including all financials, sales and legal matters.
Resident status :
Mr. Jerry Wu
Department : Purchasing
Dept.
Tel no. :
6-3841088 Ext : 56
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Research and development of technologies related to 30um steel wires
& nickel alloy.
2. Manufacturing of various types stainless steel and alloy wire products.
3. Selling to both domestic and international markets of products
produced by the firm.
Products : Alloy & flat wire products
Semi-finished
wire products
Wires
Alloy & flat
wire products
Alloy steel wires
*Brand*
=======
Brand Yuen Neng
*Payment Terms*
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Sales
------
Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic Transfer
(T/T)
Purchase
-------------
Local : 30-90 days credit
Import : Letter of Credit (L/C)
Open account/D/A
terms with settlement using Telegraphic Transfer (T/T)
*Competitors*
===========
The following locally based companies supply similar range of products :
- CHUNG LIANG BUSINESS CO LTD
- JIA CHARG CO LTD
- STAINLESS WIRE INT'L FABRICATION TECHNOLOGIES INC
- JUN-EN ENTERPRISE CORP
*Associations*
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Member of :
-
*Trading Name*
=============
Although the company is legally registered by the name listed above, it
is commonly known as YUEN NENG WIRE CO LTD under which it operates
locally.
*Quality Certification*
==================
Type of certification : ISO 9002
Date of certification : June 1998
Type of certification : N/A
Issuing authority :
Date of certification : December
2001
Other details : For
superior materials development.
Type of certification : ISO 9001/2000
Issuing authority : SGS
Date of certification : 23 April,
2002
Approved number : Q13815
*Local Distribution Network*
=======================
20% of the annual turnover is attributed to local sales.
*Domestic Customers*
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Major local customers include:
- HUA YI WIRE CABLE CORP
- SZU PEI HOSE IND CORP
*Export Markets*
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80% of the annual turnover is attributed to export.
*International Trade Activity*
======================
April 1996 - Started exportation of Yuen Neng wire
products.
June 1998 - Started
shipping of stainless steel products to
January 1999 -
Successfully entered the Japanese wire product market.
*(Subsidiaries , Joint-ventures & Affiliates)
================================
Company Name : TONGLAI STAINLESS STEEL WIRE (
Address : Xinyang Industrial Area
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Metals & Metal Products
*Strategic Partners & Alliances*
=========================
Group name : YUEN NENG Group
Members : - HUA YI WIRE CABLE
CORP
- SZU PEI
HOSE IND CORP
- YUEN NENG
CO LTD
PAYMENT RATING : 3 OBTAINED SCORES : 70
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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 MODERATE amounts depending on individual judgement
experience.
*Bank Details*
===========
Bank Name : CHINATRUST COMMERCIAL BANK LTD
Branch : Hsin-i Dist,
Branch Address : 14Fl
SWIFT Code : CTCBTWTP
Bank Name : E.SUN BANK FINANCIAL CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : This bank does not have a SWIFT Code
Bank Name : FUBON COMMERCIAL BANK
Branch : Ta-an Dist,
Branch Address : 2Fl B1 Fubon Banking Center 169 Jen Ai Rd Section 4
Ta-an Dist Taipei City 106 (Head Office)
SWIFT Code : This bank does not have a SWIFT Code
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : TACBTWTP
As a private limited company with a paid-up capital of less than US$ 6
million, there is no legal requirement according to local corporate law for
public disclosure of detailed financials.
*Int´l Trade Activity (Currency:
=================================
Year Imports Exports Total
2004 US$ 1,350,000.00 US$ 2,400,000.00 US$ 3,750,000.00
2005 US$ 1,500,000.00 US$ 2,500,000.00 US$ 4,000,000.00
2006 US$ 3,500,000.00 US$ 5,500,000.00 US$ 9,000,000.00
SC is considered an old-established business with stable development trend.
It is considered a credit line up to US$ 200,000 appears to be within SC’s
capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3325 Steel
Foundries, NEC
Exporting 3357 Nonferrous
metal wire and cable, drawn and insulated
Exporting 3496 Fabricated
wire products
Exporting 3499 Fabricated
metal products
Manufacturing 3325 Steel
Foundries, NEC
Manufacturing 3357 Nonferrous
metal wire and cable, drawn and insulated
Manufacturing 3496 Fabricated
wire products
Manufacturing 3499 Fabricated
metal products
Manufacturing 5039 Construction
Materials, NEC
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7229 Wire
of alloy steel
Exporting 7229909000 Other
wire of other alloy steel
Exporting 7300 Articles
of iron or steel
Exporting 7326200000 Articles
of iron or steel wire
Exporting 8300 Miscellaneous
articles of base metal
Manufacturing 6810 Articles
of cement, concrete or artificial stone
Manufacturing 7229 Wire
of alloy steel
Manufacturing 7229909000 Other
wire of other alloy steel
Manufacturing 7300 Articles
of iron or steel
Manufacturing 7326200000 Articles
of iron or steel wire
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturing Alloy wires
Manufacturing Construction materials
Manufacturing Stainless steel hoses
Manufacturing Stainless steel wires
Manufacturing Steel scourer
Manufacturing Wires
Manufacturing Steel bar wires
Manufacturing Fine soft annealed wire
Manufacturing Flat wires
Manufacturing Hard stainless steel wires
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
Importing from
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%)