MIRA INFORM REPORT
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Report Date : |
20.11.2008 |
IDENTIFICATION DETAILS
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Name : |
NON SHENG CO LTD |
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Registered Office : |
21 Huan Chiu Rd Luchu Hsiang , |
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Country : |
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Date of Incorporation : |
10.03.1986 |
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Com. Reg. No.: |
22096182 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer of various types of animal feed, raise chicken/duck. |
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 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name & address
NON SHENG CO LTD
TEL: 886-7-6951121 FAX:
886-7-6952918
EXECUTIVE SUMMARY
INCORPORATION DATE :
MARCH 10, 1986
REGISTRATION NO. :
22096182
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. SHIH-CHANG YANG (CHAIRMAN)
STAFF STRENGTH :
180
CAPITAL :
US$ 4,302,135
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.4300 = 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 –
*Company Name*
=============
Previous name : DING LONG CO
LTD
Changed name to : NON SHENG CO
LTD
Date of change : N/A
*Company History*
===============
March 1986 -
Established feed mill and started production.
September 2002 - Started
poultry processing business.
February 2003 - Moved
headquarters to the present site for expansion.
May 2006 -
Following government policy, expanded poultry processing facility.
April 2007 -
Installed automated processing system from
*Licenses & Permits*
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(1)
License number : 9966576603
Date issued : 25 June,
1988
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 9966427002
Date issued : 31
December, 1990
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Office & Facilities*
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Other contact details
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Tel nos. : 7-6952201, 8-7751470
*Factories, Size & Locations*
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Land Area : 1,237
sq.meter (Approx)
Production Lines : Two automated
computer-controlled production lines, up to 300,000 tons of feed per year.
Type of Building : Industrial
building
Property status : Owned by NON
SHENG CO LTD
Comment : Serves as
office and factory
Pingtung Hsien
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Land Area : 4340
sq.meter(Approx)
Production Lines : Manual-assist automated line with a capacity of 2,000
ducks or 800 geese per hour. Automated Systemate Numafa processing line with a
capacity for fully eviscerated 6,000 native broilers per hour.
Cold Storage Area: 7503 sq meter
Computer-cataloged cold storage that can store over 4,000 metric tons of
frozen goods in -40 'C.
Type of Building : Industrial
building
Property status : Owned by NON
SHENG CO LTD
*Corporate & Organization Structure*
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A large sized company operated and managed by an experienced team of
professionals.
www.nonsheng.com.tw
The design is professional and the content is well organized. At present it is
in Japanese, Chinese and English versions.
E-mail: non.sheng@insa.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 4
Total number of shares: 9,345
Shareholders Country Number Amount %
Mr. Chih-ming Yang
Mr. Ching-tsung Yang
Mr. Shih-chang Yang
Mr. Ko-wei Yang
Management: Ms. Kuei-fang
Mr. Ching-tsung Yang, General Manager
Name Nationality
Job Description Dept. / Division
Ms. Kuei-fang Kan Taiwanese
Manager Int'l
Mr. Ching-tsung Yang Taiwanese General Manager -
*COMPANY DIRECTORS*
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1
Name : Mr. Shih-chang Yang
Nationality : Taiwanese
*Main Products & Services*
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Specializes in the following areas of work:
1. Manufacturing of various types of animal feed, raise chicken/duck.
2. Import of animal feed raw materials and other related materials.
3. Processing and cold storage , OEM using quality, fresh meat products
provided by Non Sheng.
4. Selling to both domestic and international markets.
Product lines include:
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- Silky Bantam Whole Bird
- Silky Bantam Cut-up
- Native Chicken Breast
- Native Chicken Halves
- Native Chicken Wings
- Native Chicken Feet
- Native Chicken Cut-up
- Duck Gizzard
- Breeder House
- Old-Timer Primitive Bantam
- Silky Bantam
- Free Range Native Black Chicken
- Native Maroon Chicken
- White Broiler
Products: Animal feed raw materials
Animal feeds for
pig
Assorted, feeds
Bran
Broiler feeds
*Brand*
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Non Lin
*Payment Terms*
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Sales
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Local : 30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Competitors*
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The following locally based companies supply identical range of products
:
- CHIN DA ENTERPRISE CORP
- LEADER ENTERPRISE CO LTD
- ALL START ENTERPRISE CORP
- BASF TAIWAN LTD
- KENDICO ENTERPRISES CO LTD
- ROBERT FOODS CO LTD
- CHYL YANG TRADE CO LTD
- CHANG YUH ENTERPRISES CO LTD
*Machinery & Equipment*
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Machinery/ Equipment include:
- Computer-controlled feed production
- Duck processing line
- Chicken processing line
- Cold storage
*Quality Certification*
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Type of certification : CAS
(Chinese Agriculture Standard)
Date of certification : June
2006
Scope of certification : For hygiene and quality
*Domestic Customers*
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Domestic sales to local farmers and wholesalers.
*Local Distribution Network*
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Approximately 90% of the annual turnover is attributed to local sales.
*International Trade Activity*
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January 2007 - Started
frozen duck meat export to
- Started frozen
chicken meat export to
April 2007 -
Started frozen duck meat export to
*Export Markets*
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Approximately 10% of the annual turnover is attributed to export.
*International Trade Ranking*
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The firm has been ranked among
Details of rank are as follows:
Year Rank
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2006 2010
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 3 OBTAINED SCORES : 73
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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
Although summary financials were obtained for reference.
*BANK DETAILS*
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Bank Name : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2003 $10,092,272.20 $3,604,382.93 $278,258.36
2007 $72,420,036.21 $3,590,826.80 $3,108,026.55
*Int´l Trade Activity (Currency:
==============================
Year Imports Exports Total
2001 $3,460,000.00 $0.00 $3,460,000.00
2002 $7,260,000.00 $0.00 $7,260,000.00
2003 $8,570,000.00 $0.00 $8,570,000.00
2005 $15,000,000.00 $0.00 $15,000,000.00
2006 $18,057,272.97 $0.00 $18,057,272.97
2007 $23,000,000.00 $2,800,000.00 $25,800,000.00
SC is considered medium-sized in its line with a development history of 22
years. A credit line up to USD 500,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 0251 Raising Cooking
Chickens
Importing 0115 Corn
Importing 2041 Flour and
other grain mill products
Importing 2048 Prepared
feeds,
Importing 2079 Shortening,
table oils, margarine and other edible fats and oils, nspf
Manufacturing 0200 Agricultural
Production-Livestock
Manufacturing 2011 Meat
products and meat packing products, except poultry and small game animals
Manufacturing 2048 Prepared
feeds,
Manufacturing 5147 Meats
& Meat Products
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 0207120020 Chickens,
young (broilers, fryers, roasters and capons), not cut in pieces, frozen
Exporting 0207140000 Chicken
cuts and edible offal (including livers) frozen
Exporting 0207360000 Duck,
geese or guinea cuts and edible offals (including livers), frozen
Importing 0714100000 Cassava
(manioc) fresh or dried, whether or not sliced or in the form of pellets
Importing 1005902000 Corn
(maize) yellow dent, except seed
Importing 1502000020 Tallow,
edible
Importing 1511900000 Palm
oil and its fractions, refined but not chemically modified
Importing 2301100000 Flours,
meals and pellets, of meat or meat offal, unfit for human consumption; greaves
(cracklings)
Importing 2301200000 Flours,
meals and pellets, of fish or of crustaceans, molluscs or other aquatic
invertebrates, unfit for human consumption
Importing 2302100000 Bran,
sharps (middlings) and other residues, whether or not in the form of pellets,
derived from the sifting, milling or other working of corn (maize)
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Flour
meals
Importer Palm oil
Importer Corn
Importer Methionine
Importer Meat
packing
Manufacturer Animal feeds for
pig
Manufacturer Feeds
Manufacturer Assorted,
feeds
Manufacturer Frozen meat
products
Manufacturer Broiler feeds
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region
Pacific Importing
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.52 |
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1 |
Rs.75.54 |
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Euro |
1 |
Rs.63.12 |
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%)