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Report Date : |
27.11.2012 |
IDENTIFICATION DETAILS
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Name : |
YEN & BROTHERS ENTERPRISE CO., LTD. |
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Registered Office : |
14/F., No. 67, Section 1, |
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Country : |
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Date of Incorporation : |
02.10.1980 |
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Com. Reg. No.: |
15882261 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of frozen seafood |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
Taiwan - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing
government guidance of investment and foreign trade. In keeping with this
trend, some large, state-owned banks and industrial firms have been privatized.
Exports, led by electronics, machinery, and petrochemicals have provided the
primary impetus for economic development. This heavy dependence on exports
exposes the economy to fluctuations in world demand. In 2009, Taiwan's GDP
contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In
2010 GDP grew 10.9%, as exports returned to the level of previous years, and in
2011, grew 5.2%. However, 2012 growth will likely be less, according to most
forecasters, because of softening global demand. Taiwan's diplomatic isolation,
low birth rate, and rapidly aging population are major long-term challenges.
Free trade agreements have proliferated in East Asia over the past several
years, but so far Taiwan has been excluded from this greater economic
integration largely because of its diplomatic status with the exception of the
landmark Economic Cooperation Framework Agreement (ECFA) signed with China in
June 2010. The MA administration has said that the ECFA will serve as a
stepping stone toward trade pacts with other regional partners, and negotiations
on a deal with Singapore began this year. Follow-on components of ECFA,
including deals on trade in goods, services, and investment, have yet to be
completed. Taiwan's Total Fertility rate of just over one child per woman is
among the lowest in the world, raising the prospect of future labor shortages,
falling domestic demand, and declining tax revenues. Taiwan's population is
aging quickly, with the number of people over 65 accounting for 10.9% of the
island's total population as of 2011. The island runs a large trade surplus,
and its foreign reserves are the world's fourth largest, behind China, Japan,
and Russia. Since 2005 China has overtaken the US to become Taiwan's
second-largest source of imports after Japan. China is also the island's number
one destination for foreign direct investment. Three financial memorandums of
understanding, covering banking, securities, and insurance, took effect in
mid-January 2010, opening the island to greater investments from the mainland's
financial firms and institutional investors, and providing new opportunities
for Taiwan financial firms to operate in China. Closer economic links with the
mainland bring greater opportunities for the Taiwan economy, but also poses new
challenges as the island becomes more economically dependent on China while
political differences remain unresolved.
Source : CIA
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Company Name: |
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|
Supplied Name: |
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Trading Address: |
14/F., No. 67, Section 1, Chung Shan Road,
Xinzhuang District, New Taipei City, Taiwan R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886-2-8521-1230 |
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E-mail: |
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
Subject was incorporated on
|
Name |
Subscription Shares |
|
Yuanbo Yan |
70,000 |
|
Yuanlong Yan |
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|
26,000 |
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The information above is that of subject’s major shareholders.
It is introduced that
subject has related offices in Shanghai and Beijing, while the details are not
disclsoed.
Core
Management
|
1 |
|
|
Name |
Yuanbo Yan |
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Position |
Board Chairman |
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2 |
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Name |
Yuanlong Yan |
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Position |
Director |
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3 |
|
|
Name |
Zhiyao Yan |
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Position |
Director |
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4 |
|
|
Name |
Ruixiang Xu |
|
Position |
Supervisor |
Offices
& Factories
|
|
Headquarters |
|
Add |
14/F., No. 67, Section 1, Chung Shan Road, Xinzhuang District, New
Taipei City, Taiwan R.O.C. |
Production
Information
l
Subject is engaged in trading of frozen seafood.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
A301030 |
|
|
A301040 |
Recreational Fisheries |
|
A302020 |
Fisheries Service |
|
F101050 |
Wholesale of Aquatic products |
|
F101070 |
|
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F401010 |
International Trading Business |
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G801010 |
Warehousing Industry |
|
I101070 |
Agriculture, forestry, fishery
and husbandry Consulting |
|
I103060 |
Management Consulting |
|
IG01010 |
Biological
Technology Services |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
Subject purchases booth at home and abroad and it
is introduced that subject purchases from
cooperative fishery vessel and processing factories
l
Subject also imports from Chile, Greenland, Norway,
etc
Purchase
|
Product |
Origin |
|
Salmon |
Norway, Chile |
|
Flatfish |
Greenland |
|
Others |
Taiwan, etc |
l
The subject is mainly engaged in sales of frozen
seafood, and it is introduced that subject can supply different packaging
combinations according customers’ needs
l
Subject’s products are both sold in domestic and
overseas market and subject’s export mainly focus on Southeast Asia and subject
also has related offices in Beijing and Shanghai, China for local distribution.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Frozen seafood |
COD, CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Frozen seafood |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Frozen seafood |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Frozen seafood |
CBD, etc |
100% |
Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Taiwan and the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff Ms. Du declined to disclose its financials citing the grounds of company’s confidentiality; from other source we can not obtain the relevant information, either.
Subject declined to disclose its bank details; from other source we can not obtain the relevant information, either.
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.
|
Name |
Ms. Du |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.69 |
|
UK Pound |
1 |
Rs.89.20 |
|
Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.