MIRA
INFORM REPORT
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Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIENG NOONG TRADING CO LTD |
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Registered Office : |
22, Alley 24, Lane 803, Fu Hsing Rd
Hsinying City Tainan Hsien 730 |
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Country : |
Taiwan |
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Date of Incorporation : |
02.07. 1986 |
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Com. Reg. No.: |
22216031 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Imports of vegetable and food products. Domestic sales of its imported 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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & aDdress
NIENG
NOONG TRADING CO LTD
22, ALLEY 24, LANE 803, FU HSING RD HSINYING
CITY
TAINAN HSIEN 730, TAIWAN
TEL: 886-6-6523449 FAX: 886-6-6527902
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 2, 1986
REGISTRATION NO. :
22216031
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. KUN-HUNG HSU (CHAIRMAN)
STAFF STRENGTH :
40
CAPITAL :
US$ 821,485
BUSINESS LINE :
IMPORTER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 100,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.33778= 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 Registration*
===================
License number : 22216031
Date issued : 2 July, 1986
Issuing authority : Ministry of Economic Affairs (MOEA)
*Corporate & Organization Structure*
===========================
A small sized company mainly operated and managed by the owner of the
firm.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
E-mail: sjaeger@ms41.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name %
of Shares
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Mr. Kun-hung Hsu
99
Management: Ms. Judy Chiou,
Manager
Mr. Kun-hung Hsu, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Judy Chiou Taiwanese
Manager Sales
Mr. Kun-hung Hsu Taiwanese
General Manager -
*Key Personnel*
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Mr. Kun-hung Hsu
Founder : Sole
founder
Work experience : More then 20
years
Responsibilities : Daily
operation of the firm including all financial and legal matters.
*Main Products & Services*
======================
Specializing in 3 main areas of work:
1. Imports of vegetable and food products.
2. Domestic sales of its imported products.
3. Handles daily sales activities from local customers.
Products: Alfalfa
Almonds
Barley
Beans
Broad beans
*Payment Terms*
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Sales
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Local : Cash
30-60 days credit
Purchases
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Local : Cash
30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Competitors*
===========
The following locally based firms supply similar range of products.
- AIM CO LTD
- BEANSUM CO LTD
- CHANG CHUNG CEREAL CO LTD
- CREATION FOOD CO LTD
- HEINZ FOOD LTD
- SUNG TING TRADING CO LTD
- S JAEGER & SON LTD
- HONEON ENTERPRISE CO LTD
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales
*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 : 3 OBTAINED SCORES :
60
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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 Taiwan corporate law for
public disclosure of detailed financial.
*BANK DETAILS*
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Bank Name : BANK OF TAIWAN
Branch : Chungcheng
Dist,Taipei City
Branch Address : 120 Chung Ching South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
SWIFT Code : BKTWTWTP
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2002 $5,000,023.00 $0.00 $5,000,023.00
2003 $5,000,230.68 $0.00 $5,000,230.68
2004 $5,000,024.06 $0.00 $5,000,024.06
2005 $6,500,000.00 n/a $6,500,000.00
2006 $6,750,000.00 n/a $6,750,000.00
2007 $5,850,000.00 n/a $5,850,000.00
SC is considered medium-sized in its line with a development history of
22 years. A credit line at the above amount appears beyond SC’s capacities, while
a credit line up to USD 100,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0100 Agricultural
Production-Crops
Importing 0161 Vegetables
and melons
Importing 2000 Food
and Kindred Products
Importing 2034 Food
products, dried and dehydrated
Importing 2037 Frozen
fruits, fruit juices, and vegetables
Importing 2095 Roasted
coffee
Importing 2099 Food
products,
Importing 5148 Fresh
Fruits & Vegetables
Importing 5153 Grain
& Field Beans
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 0700 Edible
vegetables
Importing 0708200000 Beans (vigna spp., phaseolus spp.), fresh or chilled
Importing 0709 Vegetables,
fresh or chilled
Importing 0713101000 Peas (pisum sativum), seeds of a kind used for sowing, 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 0713394070 Beans (vigna spp, phaseolus spp) except seed, entered or
withdrawn for consumption september 1 to april 30, 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
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Alfalfa
Importer Sesame
seed
Importer Canary
seeds
Importer Oats
Importer Corns
Importer Barley
Importer Durum wheat
semolina
Importer Almonds
Importer Broad
beans
Importer Kidney
beans
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Importing from Asia
Importing from Australia
Importing from Cambodia
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
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%)