MIRA
INFORM REPORT
|
Report Date : |
16.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
S JAEGER & SON LTD
|
|
|
|
|
Registered Office : |
53 Chung Hsiao Rd Hsinying City Tainan Hsien 730 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
October 19, 1981 |
|
|
|
|
Com. Reg. No.: |
12353062 |
|
|
|
|
Legal Form : |
Private |
|
|
|
|
Line of Business : |
Importation of a wide range of agricultural produce with focus on mung
beans and related products. Operates as warehouse of imported products. Processing, production, domestic sales and distribution of
agricultural products and animal feeds.
|
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name &
address
S JAEGER & SON LTD
53 CHUNG HSIAO RD HSINYING CITY TAINAN HSIEN 730, TAIWAN
TEL: 886-6-6523447
FAX: 886-6-6527902
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 19, 1981
REGISTRATION NO. :
12353062
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHEN-HSIUNG WANG (CHAIRMAN)
STAFF STRENGTH :
30
CAPITAL :
US$ 1,837,672
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : USD
150,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.10000 = US$1 AS OF 2007-3-16
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 : 12353062
Date issued : 19 October, 1981
Issuing authority : Ministry of Economic Affairs (MOEA)
*Licenses & Permits*
================
License number : 9965639200
Date issued : 17 September, 1990
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
===============
Size : 1,200 sq meters (approx)
Location : Outer Suburb of Tainan City
Facilities : Maintain a semi-modern facilities
Property status : Owned by the company, S JAEGER &
SON LTD
Type of building : Industrial
building
*Corporate & Organization Structure*
=============================
A medium sized company mainly operated and managed by owner and team of
professional.
*Factories, Size & Locations*
======================
Size : 3,650 sq meters (approx)
Location : Outer Suburb of Tainan City
Facilities : Maintain a semi-modern facilities
Property status : Owned by the company, S JAEGER &
SON LTD
Type of building : Industrial
building
*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.foodmining.com/vip/12353062
The design is simple and the content is well organized. At present it is
both in Chinese and English version.
E-mail: siaeger@ms41.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders : 4
Total number of shares
: 4,750
Shareholders' Name No. of
Shares
--------------------------
-------------------
Mr. Chen-hsiung Wang 2,145
Mrs. Yang Chin-chu Wang Yang 1,335
Mrs. Wang Shu-chen Hsu Wang 1,235
Ms. Wang-lin Hsu 35
Management: Ms. Wang-lin Hsu,
Manager
Mr. Kun-hung Hsu, General Manager
Mr. Chen-hsiung Wang, President
Name Nationality
Job Description
Ms. Wang-lin Hsu Taiwanese
Manager Administration
Mr. Kun-hung Hsu Taiwanese
General Manager
Mr. Chen-hsiung Wang Taiwanese President
*Key Personnel*
============
Mr. Chen-hsiung Wang
Founder : Co-founder
Resident status : Taiwan
Work experience : More
than 20 years experience
Responsibilities : Handles the daily operation of the
firm including all financial, sales and legal matters.
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Importation of a wide range
of agricultural produce with focus on mung beans and related products.
2. Operates as warehouse of
imported products.
3. Processing, production,
domestic sales and distribution of agricultural products and animal feeds.
Products: Green beans
Kidney beans
Mung beans
Sesame seed
Green beans
*Payment Terms*
=============
Sales
------
Local : Cash
30 - 60 days credit
Export : Letter of Credit (L/C)
Documents against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Purchases
--------------
Local : Cash
30 - 60 days credit
Import : Letter of Credit (L/C)
Documents against
Acceptance (D/A)
Telegraphic Transfer
(T/T)
*Associations*
===========
Member of :
- Tainan Rice & Cereals Industrial Associations
*Competitors*
===========
The following locally based firms supply similar range of products :
- CHANG CHUNG CEREAL CO LTD
- NATURAL GOODS CO LTD
- NIENG NOONG TRADING CO LTD
- GOLDENCROPS CORP
*Domestic Customers*
=================
Major local customers include:
- Feed manufacturers
- Food manufacturers
- Wholesalers
*Local Distribution Network*
=======================
90% of the annual turnover is attributed to local sales.
*Export Markets*
=============
10% of the annual turnover is attributed to export.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 68
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
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.
As a 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)
=============================
Year Sales Assets Net Income
2004 $16,601,503.76 n/a n/a
2005 $20,144,075.83 $8,846,761.45 $426,824.64
*Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports Exports Total
2003 $5,215,037.59 $31,290.23 $5,246,327.82
2004 $7,000,000.00 $50,000.00 $7,050,000.00
2005 $7,500,000.00 $70,000.00 $7,570,000.00
Over the past 26 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD150,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0100 Agricultural
Production-Crops
Importing 5153 Grain
& Field Beans
Manufacturing 0100 Agricultural
Production-Crops
Manufacturing 0116 Soybeans
Manufacturing 2048 Prepared
feeds,
Manufacturing 5153 Grain
& Field Beans
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0710223010 Green and wax beans (vigna spp., phaseolus spp.), not reduced
in size,
uncooked
or cooked by steaming or boiling in water, frozen
Importing 0713104020 Green peas, except seed, dried, shelled
Importing 0713311000 Beans of the species vigna mungo (l.) hepper or vigna radiata
(l.) wilczek, seeds
of
a kind used for sowing, dried
Importing 0713331000 Kidney beans, including white pea beans (phaseolus vulgaris),
seeds of a kind
used
for sowing, dried
Importing 0713335020 Dark red kidney beans, (except seed), dried, shelled
Importing 1003004010 Barley seed
Importing 1008200000 Millet
Importing 1008300000 Canary seed
Importing 1103190000 Groats and meal of cereal
Importing 1104120000 Grains, rolled or flaked, of oats
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturing Soyabean
Manufacturing Stock feeds
Manufacturing Soybeans
Manufacturing Mung beans
Manufacturing Oats
Manufacturing Red beans
Manufacturing Sesame seed
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Asia
Importing from Asia
Importing from Australia
Importing from Canada
Importing from China
Importing from India
Importing from Indonesia
Importing from Myanmar
Importing from North America
Importing from Oceania
Importing from Thailand
Importing from USA
Importing from Ukraine
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)