MIRA
INFORM REPORT
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Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
NAN YANG CHEMICAL CO LTD |
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Registered Office : |
63, Lane 45, Hsin Yi Rd Chiayi City 600 |
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Country : |
Taiwan |
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Date of Incorporation : |
19.12.1964 |
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Com. Reg. No.: |
65402941 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of raw materials for in-house OEM production. Manufacturing of extruded plastic netting and other thermoplastic
polymers products. Export and domestic sales of its finished products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
USD 15,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
NAN
YANG CHEMICAL CO LTD
63, LANE 45, HSIN YI RD CHIAYI CITY 600,
TAIWAN
TEL: 886-5-2356356 FAX: 886-5-2356085
EXECUTIVE SUMMARY
INCORPORATION DATE : DECEMBER
19, 1964
REGISTRATION NO. :
65402941
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. ERH-CHIEN TSAI (CHAIRMAN)
STAFF STRENGTH :
25
CAPITAL :
US$ 838,509
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 15,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.49831 = US$1
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 History*
==============
1954 - Established the first factory
in Chia-yi using an extruder from Japan and ployethylene from the USA to
produced plastic band for clogs and household packaging.
1976 - Built the second factory
to meet the rapid growth and to increase production capacity.
1982 - Introduced co-extrusion
film for agricultural products.
1989 - Multi-purpose plastic
netting was created and registered for patents and trademark.
1992 - Developed the PE filter
bags for garbage collection.
2002 - The subsidiary company -
WEI-YANG PLASTIC CO was built in Shanghai, China.
2003 - ExMesh was created. Now,
the series of ExMesh is widely used in flower and decoration markets of the
U.S.A., Europe, and China.
2005 - Developed PolyLiner, the
food and shelf liner.
*Company Name*
=============
Incorporated as : NAN
YANG CHEMICAL CO INC
Date of incorporation : 19 December, 1964
Changed name to : NAN YANG
CHEMICAL CO LTD
Year of change :
2000
*Licenses & Permits*
================
License number : 9965558400
Date issued : 31
December 1976
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
================
Size : 200
sq meters (Approx)
Location : Chiayi
City
Property status : Rented
Type of building : Commercial building
*Factories, Size & Locations*
======================
Building size : 1000 sq
meter (Approx)
Location : Chaiyi
Hsien
Facilities : Modern
Property status : Rented
Type of building : Industrial building
*Corporate & Organization Structure*
============================
A small-medium sized specialized company operated and managed by the
owner and a professional management team.
Organizational Charts
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President
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General Manager
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------------------------------------------------|---------------------------------------------------------------
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Administration Second factory First factory
Production R &
D Marketing & Sales
___|_ ___|_ ___|_ _____|___
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| Finance | Manufacturing II
| Manufacturing I |
| Product
General affairs Processing
& Processing & | Domestic Marketing
Assembling II
Assembling I
International Marketing
*Awards*
========
Received the following awards:
(1)
Award : The Little
Giant Award
Awarded by : Small and Medium
Enterprise Administration of Ministry of Economy
Year : 1998
(2)
Other awards include :
- Business Taxpayer Excellence Award
- Recipient of the Traditional Industry Technology Upgrade Project
Funding
www.southsun.com.tw
The design is professional and the content is well organized. At present it is
in Chinese, Japanese and English versions.
E-mail: southsun@ms3.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
===============
Total number of shareholders: 6
Total number of shares: 15,475
Shareholders Country Number Amount %
Mr. Erh-chien Tsai Taiwan 7,865.00 n/a 50.82
Mr. Erh-hsin Tsai Taiwan 4,025.00 n/a 26.01
Mr. Wei-ting Tsai Taiwan 1,800.00 n/a 11.63
Mrs. Jui-e Chen Tsai Taiwan 900.00 n/a 5.82
Ms. Yu-hui Huang Taiwan 750.00 n/a 4.85
Mr. Chi-lang Yeh Taiwan 135.00 n/a
0.87
Management: Mr. Chien-hung Chen,
Manager
Ms. Mei-lan Chan, Representative
Mr. Erh-chien Tsai, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Chien-hung Chen Taiwanese Manager Sales
Ms. Mei-lan Chan Taiwanese
Representative Sales
Mr. Erh-chien Tsai Taiwanese
General Manager -
*COMPANY DIRECTORS*
=====================
1
Name : Mr. Erh-chien Tsai
Nationality : Taiwanese
Country of Residence: Taiwan
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Importing of raw materials for in-house OEM production.
2. Manufacturing a wide range of extruded plastic netting and other
thermoplastic polymers products.
3. Export and domestic sales of its finished products.
Products also include:
- Flat Package Mesh Bags
- Rope Package Mesh Bags
- Protective Netting Sleeves
- Mechanical Part Separator
Netting
- Plant Protective Netting
- Anti-Bird Mesh
- Garden Partition Netting
- Anti-Pest Mesh Bags
- Non-Slip Shelf and Food Liner
- Barrier Netting
- Sturdy Perforated Pipes
- Gutter Filtration Mesh
- Window Screen Mesh
- Floral Wrap Mesh
- Lace and Ribbon Mesh
- Mizukiri Netting
- Bath Scrubs and Sponges
Products: Agricultural netting
Color decoration
mesh
Construction
nettings
Cosmetic packing
mesh bags
Daily necessity
netting
*Brand*
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Nan Yang Chemical
*Payment Terms*
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Sales
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Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Purchase
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Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Exhibition Participation*
====================
Exhibition fair : Giftionery
Taipei - Taipei Int'l Gift & Stationery Spring Show
Dates attended : 21-24 April, 2007
Location : Taipei
World Trade Center (TWTC) - Exhibition Hall
*Competitors*
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The following locally based companies supply similar range of products:
- JING JAR ENTERPRISE CO LTD
- LONG YUH INDUSTRIAL CO LTD
- COLOR STAR PRODUCTS CO LTD
- HSIA CHENG WOVEN TEXTILE FACTORY CORP
- CHING FA FISHING IMPLEMENTS FACTORY CO LTD
*Local Distribution Network*
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An estimated 30% of the annual turnover is attributed to local
sales.
*Export Markets*
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An estimated 70% of the annual turnover is attributed to export.
*International Trade Activity*
======================
1992 -
Started to export PE filter bags to Japan.
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name : WEI YANG
PLASTIC CO LTD
Country : China
Relationship :
Subsidiary
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Chemicals
*Subsidiaries, Joint-ventures & Affiliates*
===============================
Maintains three (3) manufacturing plants and three (3) offices in China,
Taiwan and USA.
PAYMENT RATING : 3 OBTAINED SCORES :
51
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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.
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.
Although, financial summaries were obtained for reference.
*BANK DETAILS*
===============
Bank Name : TAI-SHING INT'L
BANK
Branch : Chungcheng
Dist,Taipei City
SWIFT Code : This bank does
not have a SWIFT Code
Bank Name : TAIWAN BUSINESS
BANK
Branch : Tatung
Dist,Taipei City
Branch Address : International Department 3Fl, 30 Ta Cheng St
SWIFT Code : MBBTTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2007 $1,237,175.62 $392,275.20 $57,332.53
*Int´l Trade Activity (Currency: U.S. $'s)
===============================
Year Imports Exports Total
2005 $430,000.00 $850,000.00 $1,280,000.00
2006 $190,000.00 $590,000.00 $780,000.00
2007 $230,000.00 $790,000.00 $1,020,000.00
SC is considered small-sized in its line with a development history of
44 years. Taking into consideration of SC’s general performance, a credit line
up to USD 15,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3089 Plastics
products,
Importing 2821 Plastics
materials and resins
Manufacturing 2673 Plastics,
foil, and coated paper bags
Manufacturing 3086 Plastics
Foam Products
Manufacturing 3089 Plastics
products,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3923210000 Sacks & bags(including cones) of polymers of ethylene
Exporting 3923290000 Sacks & bags(including cones) of other plastics
Importing 3901100010 Polyethylene having a specific gravity of less than 0.94,
linear low density polyethylene
Manufacturing 3900 Plastics
& articles thereof
Manufacturing 3923210000 Sacks
& bags(including cones) of polymers of ethylene
Manufacturing 3923290000 Sacks
& bags(including cones) of other plastics
Manufacturing 3923900000 Articles
for the conveyance or packing of goods, etc, of plastic,
Manufacturing 7314420000 Other
grill, netting and fencing of iron or steel wire coated with plastic
Manufacturing 9507906000 Fishing
landing nets, butterfly nets and similar nets
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Industrial
nets
Manufacturer Construction
nettings
Manufacturer Agricultural
netting
Manufacturer Garden
netting
Manufacturer Disposable
packaging nets
Manufacturer Kitchen netting items
Manufacturer Plastic sacks
Manufacturer Plastic bags
Manufacturer Filtered
nettings
Manufacturer Filter bags
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting
Europe Exporting
Middle-East Importing
North America Exporting
Pacific Exporting
South America Exporting
Australia Exporting
Belgium Exporting
China Exporting
Japan Exporting
Malaysia Exporting
Netherlands Exporting
New Zealand Exporting
Puerto Rico Exporting
Qatar Importing
Singapore Exporting
Thailand Exporting
USA Exporting
United Arab Emirates Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.22 |
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UK Pound |
1 |
Rs.73.03 |
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Euro |
1 |
Rs.63.14 |
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. |
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%)