MIRA
INFORM REPORT
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Report Date : |
18.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
S JAEGER & SON LTD |
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Registered Office : |
53 Chung Hsiao Rd Hsinying City, Tainan Hsien 730 |
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Country : |
Taiwan |
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Date of Incorporation : |
19.10.1981 |
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Com. Reg. No.: |
12353062 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importation of a wide range of Mung Beans, Cornmeal, Oats and related
Agricultural Products for Processing and Packaging |
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 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address of the company
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 :
39
CAPITAL :
US$ 1,810,501
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 150,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.72500 = 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
*Licenses & Permits*
================
License number : 9965639200
Date issued : 17 September, 1990
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
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Size : 1,521 sq. meters (Approx)
Location : Tainan Hsien
Facilities : Maintains a semi-modern facilities
Property status : Rented
Comments : Serves as office and factory.
Other contact details
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Tel no. : 6-2365135
Website : www.foodmining.com/vip/12353062
*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
*Corporate & Organization Structure*
============================
A small-medium sized company mainly operated and managed by owner and
team of professional.
*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.s-jaeger-son.com
the design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: siaeger@ms41.hinet.net
For the past two years there is no record of litigation.
*Major Shareholder*
===============
Total number of shareholders: 4
Total number of shares: 4,750
Shareholders Number
%
------------------ ---------- ----
Mr. Chen-hsiung Wang 2,145.00
45
Mrs. Chin-chu Wang Yang 1,335.00 28
Mrs. Shu-chen Hsu Wang 1,235.00 26
Ms. Wang-lin Hsu 35.00 1
Management: Ms. Wang-lin Hsu,
Manager
Mr. Kun-hung Hsu, General Manager
Mr. Chen-hsiung Wang, President
Name Nationality
Job Description Dept. / Division
Ms. Wang-lin Hsu Taiwanese
Manager Administration
Mr. Kun-hung Hsu Taiwanese
General Manager -
Mr. Chen-hsiung Wang Taiwanese President -
Mr. Chien-min Wang Taiwanese Vice President -
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Importation of a wide range
of mung beans, cornmeal, oats and related agricultural products for processing
and packaging in Taiwan.
2. Manufacturing and re-packing
the imported goods and related products.
3. Selling and distribution of
products to domestic markets.
Products: Adzuki beans
Alfalfa seeds
Apricots
Bird feeds
Canary seeds
*Payment Terms*
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Sales
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Local : Cash
30-60 days credit
Export : Letter of Credit (L/C)
Documents against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash
30-60 days credit
Import : Letter of Credit (L/C)
Documents against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
*Associations*
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Member of :
- Tainan Rice & Cereals Industrial Associations
*Competitors*
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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
- WHYNOT NATURAL GOODS INC
- ING SHIANG CO LTD
*Local Distribution Network*
======================
90% of the annual turnover is attributed to local sales direct to feed
manufacturers, food manufacturers and local trading houses which also
exports.
*Export Markets*
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10% of the annual turnover is attributed to export.
Note : At the time of performing this report, the 2007 export figures
had not yet been released by the Ministry of Economic Affairs which monitors
exports and imports.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES :
68
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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*
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Bank Name : HUA
NAN COMMERCIAL BANK LTD
Branch :
Chungcheng Dist, Taipei City
Branch Address : 38
Chung King South Rd Section 1
SWIFT Code :
HNBKTWTP
Bank Name : LAND
BANK OF TAIWAN
Branch :
Hsinying City
Branch Address : 79
Chung Shan Rd
SWIFT Code :
LBOTTWTP
Bank Name :
TAIWAN BUSINESS BANK
Branch :
Tatung Dist, Taipei City
Branch Address : 30 Ta
Cheng St
SWIFT Code :
MBBTTWTP
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Net
Income
2004 $16,601,503.76 n/a
2005 $20,144,075.83 $426,824.64
2006 $1,874,244.26 $178,355.50
*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
2006 $6,541,199.82 $46,562.00 $6,587,761.82
SC is considered small-sized in its line with a long history. Taking
into consideration of SC’s general performance, a credit line up to USD 150,000
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 0111 Wheat
Importing 0115 Corn
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 0713321000 Small red (adzuki) beans (phaseolus or vigna angularis), 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 0713501000 Broad beans (vicia faba var. major) and horse beans (vicia faba
var. equina and
vicia
faba var. minor) seeds of a kind used for sowing, dried, shelled
Importing 0713901000 Dried leguminous vegetables shelled, seeds of a kind used for
sowing
Importing 1001100000 Durum wheat
Importing 1003004010 Barley seed
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Adzuki
beans
Importer Bird feeds
Importer Corn
Importer Canary
seeds
Importer Seeds
Importer Alfalfa
seeds
Importer Millets
Importer Durum
wheat
Importer Grain
sorghum
Importer Apricots
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Argentina
Importing from Asia
Importing from Australia
Importing from Belgium
Importing from Cambodia
Importing from Canada
Importing from China
Importing from Europe
Importing from India
Importing from Indonesia
Importing from Myanmar
Importing from North America
Importing from Oceania
Importing from South America
Importing from Sri Lanka
Importing from Thailand
Importing from USA
Importing from Ukraine
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%)