MIRA INFORM REPORT
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Report Date : |
14.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SHYANG SHIN BAO IND CO LTD |
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Registered Office : |
Nan Kang
Industrial Park |
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Country : |
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Date of Incorporation : |
29.06.1974 |
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Com. Reg. No.: |
61867264 |
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Legal Form : |
Private Company
With Limited Liability |
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Line of Business : |
Manufacturing of
Finished 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 500,000 |
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Status : |
Good |
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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
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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 |
Company name & address
SHYANG SHIN BAO IND CO LTD
TEL: 886-49-2263999 FAX:
886-49-2264999
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUN. 29, 1974
REGISTRATION NO. :
61867264
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE : MR. JUNG-HSI CHENG
(CHAIRMAN)
STAFF STRENGTH : 189
PAID-UP CAPITAL : NTD 100,000,000
BUSINESS LINE : MANUFACTURER
TURNOVER : NTD 920,000,000
(AS OF DECEMBER, 2009)
EQUITIES : N/A (AS OF
DECEMBER, 2009)
PAYMENT : ABOVE AVERAGE
RECOMM.
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION : WELL-KNOWN
EXCHANGE RATE : TWD 29.53247 = 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 –
Name in Local Language : 翔鑫堡工業股份有限公司
*Previous Name*
=============
Business Entity Name
Effective
Date
SHYANG SHIN BAO
INDUSTRY CO LTD 29 Jun, 1974
SHYANG SHIN BAO IND
CO LTD n/a
*OTHER
LICENSES*
================
Issuing Authority :
Industrial Development Bureau - Ministry of Economic Affairs
License Name :
Factory I license
License Number :
99652465
Date of Issuance :
22 May, 2002
*CAPITAL (Currency:
NTD - New
======================================
Authorized Capital:
100,000,000
Paid-up Capital:
100,000,000
*REAL ESTATE
OWNERSHIP*
========================
The following
property / ies are owned by SHYANG SHIN BAO IND CO LTD:
Property Name :
SHYANG SHIN BAO IND CO LTD -
Type of Property :
Office, Factory and Warehouse compound
Address : Nan Kang
Industrial Park
Office Size : 3,484 Square
meters
Estimated Value :
NTD 666,666,667.00
Property Legal
Status : Mortgaged
*REPUTATION*
=============
Reference checking
for the purpose of establishing the SHYANG SHIN BAO IND CO LTD's reputation
within the respective industry failed to reveal any adverse information.
www.ssbshoes.com The design is professional
and the content is well organized. At present it is in both Chinese and English
versions.
For the past two
years there is no record of litigation.
*Major Shareholders*
================
Total number of
shareholders: 3
Total number of
shares: 48,225
Shareholders Country Number %
Mr. Jung-hsi Cheng
Mr. Chin-sheng
Liu
Mr. Fei-chen
Hsieh
Name Nationality Job Description
Mr. Jung-hsi Cheng Taiwanese General Manager
Ms. Hui-chin Lee Taiwanese Representative
Mr. Kan-ju Lin Taiwanese Representative
Ms. Chung-wen Su Taiwanese Representative
*COMPANY
DIRECTORS*
=====================
1
Name : Mr.
Chin-sheng Liu
Nationality :
Taiwanese
2
Name : Mr. Jung-hsi
Cheng
Nationality :
Taiwanese
3
Name : Ms. Hui-chin
Lee
Email : jini.lee@ssbshoes.com
Tel : 886-49-2263999
Ext : 1802
4
Name : Mr. Kan-ju
Lin
Email : carol.lin@ssbshoes.com
Tel : 886-49-2263999
Ext : 1216
5
Name : Ms. Chung-wen
Su
Email : joanne.su@ssbshoes.com
Tel : 886-49-2263999
Ext : 1803
*CORE BUSINESS
DESCRIPTION*
============================
Core Business
-----------------
The primary business
focus of SHYANG SHIN BAO IND CO LTD is:
·Manufacturing - Finished products
An integral part of
the core business includes:
·Distribution
Supplementary
Business
------------------------------
In addition to the
core business, SHYANG SHIN BAO IND CO LTD also is engaged in the following
areas of business:
Exporting
·Buying office - Branch
*Primary Products*
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Activity Products / Materials / Services Description
---------- -----------------------------------------------------
Manufacturing Footwear
Manufacturing Sports shoes
*Payment Terms*
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Selling
--------
Type Terms
Local Cash on delivery (COD)
Credit - Secured with Post-dated checks 30~60 days
Export Letter of Credit (At-sight)
Telegraphic Transfer (T/T) - Received at time of transaction
Purchasing
-------------
Type Terms
Local Cash on delivery (COD)
Credit - Secured with Post-dated checks 30~60 days
*COMPETITORS*
==============
The following is a
representative list of local competitors:
CHIA LONG ENTERPRISE
CO LTD
CHIEN LUNG FOOTWEAR
CO LTD
GENERAL FOOTWEAR
INDUSTRIAL CO LTD
NEW HONG LONG
ENTERPRISE CO LTD
NYPLA INDUSTRIAL CO
LTD
*DOMESTIC SALES
& PURCHASES*
=============================
Annual Sales
Analysis Percentage
--------------------------- --------------
Domestic Sales 10%
International Sales
(Export) 90%
Annual Purchases
Analysis Percentage
--------------------------- --------------
Local Purchases 100%
*Sales Channel
Analysis*
===================
Sales Channel Sales Channel
Ownership Percentage
Direct end-user
/consumer Owned by Subject
Business Entity (SBE) 100%
customer sales - via
sales team
*Customer Type
Analysis*
====================
Customer Type Percentage
Manufacturers 70%
Corporate clients 30%
SC is not known to have any subsidiary at present.
PAYMENT RATING : 2 OBTAINED SCORES : 75
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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 FAIRLY LARGE amounts
depending on individual judgement experience.
*BANK DETAILS*
===============
Bank Name : BANK OF
Branch : Chungcheng
Dist,
Branch Address :
SWIFT Code :
BKTWTWTP
Bank Name : UNION
BANK OF
Branch : Sungshan
Dist,
Branch Address :
Union Enterprise Plaza Bldg 109 Ming Sheng East Rd, Section 3 Sungshan Dist,
Taipei City 105 (Head Office)
SWIFT Code :
UBOTTWTP
*FINANCIAL STATEMENT – DETAILED*
=================================
Currency : NTD
Denomination : 1
Financial Year
Ending : December
Financial Highlights
As
of 2009
------------------------- -------------
Total Assets(*) 410,000,000
Turnover(*) 920,000,000
Profit After Tax
attributable to Shareholders(*) 41,300,000
*Financials -
Summary (Currency: USD - US Dollar)
======================================
Year Sales
Assets Net Income
2009(*) $28,598,073 $12,744,793 $1,283,805
Note: (*)
Financials listed
are the most recent available for this company.
*Int´l Trade
Activity (Currency:
===============================
Year Imports Exports
Total
2007 n/a $25,871,951 $25,871,951
2008 n/a $22,213,572 $22,213,572
2009 n/a $17,127,916 $17,127,916
SC is considered
large-sized in its line with a development history of 37 years. The above credit
amount appears to be within SC’s capacities.
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2389 Apparel and accessories,
Exporting 2211 Broad woven fabrics, cotton
Exporting 2399 Fabricated textile products,
Manufacturing 5139 Footwear
Exporting 3569 General industrial machinery and equipment,
and parts,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8308 Clasps,
buckles, hooks etc, beads & spangles, base metal
Manufacturing 6405 Footwear
Exporting 8453100000 Machinery for preparing, tanning or working hides, skins, or
leather
Exporting 7317 Nails,
tacks, drawing pins etc of iron or steel
Manufacturing 6405909000 Other
footwear
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Ranking
Products / Materials / Services
Description
Exporting Secondary Artificial
fur
Exporting Secondary Buckles
Exporting Secondary Hides
Exporting Secondary Nails
Exporting Secondary Tanning
machinery
Exporting Secondary Woven
fabrics
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region Estimated level of importance Trading Activity
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.21 |
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1 |
Rs.72.55 |
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Euro |
1 |
Rs.62.43 |
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 |
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.