MIRA
INFORM REPORT
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Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
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Name : |
YE CHERNG INDUSTRIAL PRODUCTS CO., LTD. |
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Registered Office : |
Rm.1, |
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Country : |
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Date of Incorporation : |
10.11.1984 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of animal feed and feed additives. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 120,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Contact Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
Rm.1, |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
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E-mail: |
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Website: |
Credit Summary
Company Identification Details
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Registered Name: |
Ye Cherng Industrial Products Co., Ltd. |
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Registered Address: |
Rm.1, |
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Date of Foundation: |
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Registration Number: |
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Registry: |
MOEA Department of Commerce |
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Registered Capital: |
NTD 3,500,000,000 (USD 118,650,000) (As of 2011.04, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 2,895,290,050 (USD 98,150,333) |
|
Legal Representatives: |
Hexiu Chen |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock
Exchange: |
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Date of Last
Annual Return: |
History
Subject was incorporated on
Change of Chinese
Name:
|
Former Chinese
Name |
誼晟實業股份有限公司 |
|
Current Chinese
Name |
全興國際水產股份有限公司 |
Change of Capital
Particulars of the increase are as follows:
Unit: NTD
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|
As of |
As of |
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Registered
Capital |
3,500,000,000 |
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|
Paid-up Capital |
1,500,000,000 |
2,895,290,050 |
Awards
|
Year |
Awards |
|
2007 |
Blue chip
importer and exporter |
|
2008 |
Blue chip importer
and exporter |
|
2009 |
Blue chip
importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2007 |
18,000,000 |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
Shareholders
Current information
of shareholders as of
|
Name |
Subscription Shares |
|
Hexiu Chen |
21,060,108 |
|
Jigang Ke |
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|
23,273,992 |
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|
Anhong Zhuang |
5,936,246 |
|
Guoxing Xu |
7,716,801 |
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Zhongping Chen |
9,571,003 |
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Zhaobin Huang |
3,112,961 |
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Shengzhong Ke |
2,687,563 |
|
Jirui Ke |
1,984,496 |
The information
above is that of subject’s major shareholders
Former information
of shareholders as of
|
Name |
Subscription Shares |
|
9,202,593 |
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|
1,145,960 |
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|
8,419,496 |
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8,234,878 |
Subsidiaries & Branches
It is introduced
that subject has feed factory in the mainland of
Personnel Information
Current information
of management as of
|
1 |
|
|
Name |
Hexiu Chen |
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Position |
Board Chairman |
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2 |
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Name |
Jigang Ke |
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Position |
Director |
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Date of
Appointment |
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3 |
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Name |
Anhong Zhuang |
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Position |
Director |
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4 |
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Name |
Guoxing Xu |
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Position |
Director |
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5 |
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Name |
Zhongping Chen |
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Position |
Director |
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6 |
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Name |
Zhaobin Huang |
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Position |
Director |
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7 |
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Name |
Shengzhong Ke |
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Position |
Director |
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8 |
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Name |
Jirui Ke |
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Position |
Director |
Former management
information as of
|
1 |
|
|
Name |
Jigang Ke |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jicun Ke |
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Position |
Director |
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3 |
|
|
Name |
Hexiu Chen |
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Position |
Director |
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4 |
|
|
Name |
Shulan Wu |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
Over 200 employees ( |
Operation Information
Offices
& Factories
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Headquarters |
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Add |
Rm.1, |
Production
Information
l
Subject’s factory is engaged in production of
animal feed and feed additives.
l
It is introduced that subject has feed factory in
the mainland of
Purchase
Information
l
The registered activities of subject:
|
C201010 |
Feed manufacturing industry |
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F103010 |
Feed wholesaling industry |
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F202010 |
Feed retailing industry |
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C103050 |
Manufacture of canned food, frozen food, dried
food and pickled food |
|
F101050 |
Seafood wholesale industry |
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F201030 |
Seafood retail industry |
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C802100 |
Cosmetics manufacturing industry |
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F108040 |
Cosmetics wholesaling industry |
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C801110 |
Manufacture of fertilizer |
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C802120 |
Manufacture of industrial adhesive |
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C199990 |
Manufacture of other food not classified |
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I101070 |
consultant
service for agriculture, forestry, fishery
industry |
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F102040 |
Wholesales of beverage |
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F102170 |
Wholesales of food and groceries |
|
F113990 |
Wholesales of other mechanical appliances |
|
F401010 |
International Trading Business |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
It is introduced that subject purchases both at home
and abroad, it develops its own feed additives and is also the agent for many
foreign brands in
Sales
Information
l
Subject is mainly engaged in sales of animal feed
and feed additives.
l
Subject’s main products include metal-max, trace-max,
fermentation products, vitamin premixes, mineral premixes, etc.
l
Subject also supplies the relevant technology
support for customers.
l
Subject supplied feed for aquatic
products, poultry,
and livestock.
l
Subject’s products are both sold at home and
abroad, and its export countries include Europe, Africa, Asia,
l
Subject’s specific clients include manufactures,
farmers, dealers, etc.
l
Subject also supplies OEM business, and the minimum
order quantity is about 50 tons per month.
Import and export
operation right:
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Import operation right |
Yes |
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Export operation right |
Yes |
Settlements
Purchase
Domestic Purchase (
|
Payment Terms |
Proportion |
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Raw materials |
COD, CBD, Credit Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
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Raw materials |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
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Feed and deed additives
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COD, etc. |
100% |
Export
|
Sales Terms |
Proportion |
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Feed and deed additives |
CBD, etc. |
100% |
Financial Information
Subject has no obligations to disclose its financial statements to the
third party according to the relevant policy in
Subject’s relevant staff declined to disclose the financial citing the
grounds of company’s confidentiality, from other source we can not obtain the
relevant information, either.
Bankers
|
First Bank |
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|
2 |
Land Bank of |
Public Record
Mortgage
No chattel
mortgage record of subject has been found within the recent 3 months.
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
Interview Details
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.93 |
|
Euro |
1 |
Rs.63.24 |
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 |
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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-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.