MIRA
INFORM REPORT
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Report Date : |
14.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
YUNG HSING CHIANG DEVELOPMENT CO LTD |
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Registered Office : |
5FL-1, 34 Chung Shan North Rd Section 3 Chungshan Dist Taipei City 104 |
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Country : |
Taiwan |
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Date of Incorporation : |
15.06.1962 |
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Com. Reg. No.: |
07521407 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing of various types of Chemical 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 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
YUNG
HSING CHIANG DEVELOPMENT CO LTD
5FL-1, 34 CHUNG SHAN NORTH RD
SECTION 3 CHUNGSHAN DIST TAIPEI CITY 104,
TAIWAN
TEL: 886-2-25915107 FAX: 886-2-25955864
EXECUTIVE SUMMARY
INCORPORATION DATE : 15
JUNE, 1962
REGISTRATION NO. :
07521407
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. SHENG-CHIAO YEH (CHAIRMAN)
STAFF STRENGTH :
12
CAPITAL :
US$ 776,398
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2007)
EQUITIES :
N/A (AS OF DEC. 31, 2007)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 50,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.50950 = 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
*Office & Facilities*
===============
Size
: 104.35 sq. meters (Approx.)
Location :
Taipei city
Property status :
Owned by YUNG HSING CHIANG DEVELOPMENT CO LTD
Type of Building :
Commercial
Other tel nos. :
2-25968815 / 25915108
*Factories, Size & Locations*
======================
The company is a trading house focused on exports and domestic sales and
maintains no manufacturing facilities.
*Corporate & Organization Structure*
============================
A small-specialized company operated and managed by the owner and family
members.
SC is not known to host website of its own at present.
E-mail: yhcdeco@ms8.hinet.net
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 6
Total number of shares: 147,500
Shareholders Country
Number Amount %
Mr. Chi-yi Yeh Taiwan 34,250.00 n/a
23.22
Mr. Sheng-chiao Yeh Taiwan 32,000.00 n/a 21.69
Mr. Cheng-liang Yeh Taiwan 25,500.00 n/a 17.29
Mr. Chun-feng Yeh Taiwan 25,500.00 n/a 17.29
Mr. Shih-jen Yeh Taiwan 15,250.00 n/a
10.34
Mr. Chun-yang Yeh Taiwan 15,000.00 n/a 10.17
Management: Ms. Shu-ping Huang,
Executive
Mr. Cheng-liang Yeh, Manager
Mr. Jung-kuo Yeh, General Director
Name Nationality
Job Description Dept. / Division
Ms. Shu-ping Huang Taiwanese Executive Account
Mr. Cheng-liang Yeh Taiwanese
Manager Sales
Mr. Jung-kuo Yeh Taiwanese
General Director -
Mr. Chun-feng Yeh Taiwanese
General Manager -
*COMPANY DIRECTORS*
====================
1
Name : Mr. Chun-feng Yeh
Nationality : Taiwanese
2
Name : Mr. Sheng-chiao Yeh
Nationality : Taiwanese
Country of Residence : Taiwan
*Main Products & Services*
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Specializes in the following areas of work :
1. Importing of various types of chemical products which are categorized
into the following:
- Textile & Paper
Dyestuff Chemicals Division
- Electronic Fine Chemicals
Division
- Home & Industrial Materials
Department - Research and Development of technologies related to deodorant and
other chemical products.
2. Selling of products to both domestic and international markets.
Products: Basic dyestuff
Cosmetic raw
materials
Driers
Dyestuffs
Functional
chemicals
*Payment Terms*
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Sales
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Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : 30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Associations*
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Member of:
- TAPEI DYESTUFFS INDUSTRIAL ASSOCIATION
*Competitors*
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The following locally based companies supply similar range of products :
- KUSENG TRADING CO LTD
- CHUNG FU DYESTUFFS CO LTD
- AFFILIATED DYESTUFFS & CHEMICALS INC
- FORMOSE CHEMICAL CO LTD
- TAH FONG TRADING CO LTD
- SHENG I CHEMICAL CO LTD
- HSIN SOU CHEMICAL CO LTD
*Local Distribution Network*
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Approximately 90% of the annual turnover is attributed to local
sales.
*Export Markets*
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Approximately 10% of the annual turnover is attributed to export.
*LOCAL BRANCHES & MANAGEMENT*
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Branch : YUNG HSING CHIANG DEVELOPMENT CO LTD (WAREHOUSE) - TAIPEI HSIEN
Branch Address : 40 Min Yi Rd Section 3 Wuku Hsiang, Taipei Hsien 248
Branch Tel : [+886] 2-22935063
Branch Fax : [+886] 2-25352392
Branch : YUNG HSING CHIANG DEVELOPMENT CO LTD (LABORATORY) - TAIPEI CITY
Branch Address : 1Fl, 309 Min Tzu West Rd Tatung Dist, Taipei City, 103
Branch Tel : [+886] 2-25852308
Branch Fax : [+886] 2-25352392
*IMPORTER AGENCY LISTING*
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Supplier : HODOGAYA CHEMICAL CO LTD
Country of Origin : Japan
Product Description : Sodium percarbonate
Brand : DYE
Year : 2007
Supplier : HODOGAYA CHEMICAL CO LTD
Country of Origin : Japan
Product Description : Sodium percarbonate
Brand : DYE
Year : 2007
Supplier : HODOGAYA CHEMICAL CO LTD
Country of Origin : Japan
Product Description : Sodium percarbonate
Brand : DYE
Year : 2007
*(Subsidiaries, Joint-ventures & Affiliates)
=========================
Company Name : CHI GONG CHEMICAL CO LTD
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
Company Name : HAN YUAN CO LTD
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Chemicals
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 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
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $832,830.42 $739,287.87 $33,192.52
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2005 $920,000.00 $120,000.00 $1,040,000.00
2006 $380,000.00 $150,000.00 $530,000.00
2007 $450,000.00 $90,000.00 $540,000.00
SC is considered small-sized in its line with a development history of 46
years. Taking into consideration of SC’s general performance, the above credit
amount appears to be beyond SC’s capacities, while a credit line up to USD
50,000 is recommended.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 2800 Chemicals
and Allied Products
Trading 2816 Inorganic
pigments
Trading 2879 Agricultural
pesticides and other agricultural chemicals,
Trading 2899 Chemical
preparations,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3204 Syn
org coloring matter & prep; syn org brit agent
Trading 3204130000 Basic
dyes and preparations based thereon
Trading 3204140000 Direct
dyes & preparations based thereon
Trading 3206 Coloring
matter; coloring prep, etc.
Trading 3800 Miscellaneous
chemical products
Trading 3808200000 Fungicides
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Fungicides
Trader Materials
Trader Cosmetic raw
materials
Trader Functional
chemicals
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting,Importing
China Importing
India Importing
Japan Importing
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
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%)