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Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
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Name : |
S. JAEGER & SON LTD. |
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Registered Office : |
No.53, Chung Hsiao Rd., Xinying Dist., Tainan City 730, |
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Country : |
Taiwan |
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Date of Incorporation : |
19.10.1981 |
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Com. Reg. No.: |
12353062 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Processing and sales of miscellaneous grain crops and food ingredients, etc. |
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No. of Employees : |
About 30 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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: |
No.53, Chung Hsiao Rd., Xinying Dist.,
Tainan City 730, Taiwan (R.O.C.) |
|
Supplied Address: |
Hsinying Industrial park 53, Chung Hsiao
Rd., hsinying City Tainan Hsien 730 |
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Telephone Number: |
+886-6-652-3447 |
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Fax Number: |
+886-6-652-7902 |
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E-mail: |
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Website: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1981-10-19 with registered
number 12353062 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Zhengxiong Wang |
2,252 |
|
Jinju Yangwang |
1,402 |
|
Shuzhen Wangxu |
1,297 |
|
Wanlin Xu |
387 |
The information
above is that of subject’s major shareholders.
Core
Management
Directors
|
1 |
|
|
Name |
Zhengxiong Wang |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Jinju Yangwang |
|
Position |
Director |
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3 |
|
|
Name |
Shuzhen Wangxu |
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Position |
Director |
|
4 |
|
|
Name |
Wanlin Xu |
|
Position |
Supervisor |
|
5 |
|
|
Name |
Kunhong Xu |
|
Position |
Manager |
Personnel
Structure
|
Total Employees |
About 30 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.53, Chung Hsiao Rd., Xinying Dist., Tainan City 730, Taiwan (R.O.C.) |
Production
Information
l
Subject is engaged in processing of miscellaneous
grain crops and food ingredients, etc.
l
Subject has a processing factory (about 18,500 square
meters) in Xinying district, Tainan city, Taiwan.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
General import and export business (besides
licensed business) |
|
-- |
Manufacturing, processing and sales of feed,
coarse cereals, fruit, corn, soybean, canned food, coffee bean, candy,
coconut, cookie, seafood, frozen beef, fish meal, bone mealbone meal, farina
flour |
|
-- |
Manufacturing, processing and sales of hardware, gift,
accessories, toy, and stationery |
|
-- |
Manufacturing, processing and sales of edible
oil, wheat, flour, rice, soybean meal, fertilizer, cornmeal |
|
-- |
Manufacturing, processing and sales of all kinds
of seed |
|
-- |
Agent, price quoting, bidding service, Import,
export and marketing of all kinds of above mentioned items. |
|
A102020 |
Processing of agricultural products |
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F201010 |
Retail of agricultural products |
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F102030 |
Wholesale of tobacco and alcohol |
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F203020 |
Retail of tobacco and alcohol |
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F104010 |
Wholesale of textile |
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F204010 |
Retail of textile |
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F105010 |
Wholesale of furniture |
|
F205010 |
Retail of furniture |
|
F102120 |
Wholesale of sugar |
|
F102130 |
Wholesale of condiment |
|
C108010 |
Manufacturing of sugar |
|
C109010 |
Manufacturing of condiment |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
Subject purchases products
mainly from abroad such as USA, Canada, Australia, Thailand, and India, etc
l
Subject is engaged in
sales of miscellaneous grain crops and food ingredients, etc.
l
Subject’s sales region is
mainly in Taiwan domestic market.
l
Subject’s major customer
is food manufacturer.
l
Subject is the agent of
“VERSELE-LAGA”.
Major products
|
Type |
Product |
|
Miscellaneous Grain
Crops |
Black glutinous rice, Flax seed, Soft wheat, Red split
lentils, Soybean, Hard red winter wheat, Oat flakes, Mung bean, Canary seed,
Barley, Black soybean with green kernel, Dutch peral barley, Grain, Sunflower
seed, Groats&Meal of millet, Chick peas, Dried coix, Oat, Broad bean,
Green peas, Whole yellow peas |
|
Pigeon Forage |
Vetch, Maple Peas, Hulled sesame seed, Millet,
Canary seed kernel, Yellow millet, Safflower seed, White sorghum, Red
sorghum, Raddish seed, Moulting forage, Depuratin forage, Racing forage, Younster
with maize forage, Classle all sedson forage, Breeding forage |
|
Food Processing Ingredients |
Barley tea, Sago, (Hyptis suaveolens)Kala tulsi,
Red kidney bean, Butter bean, Popcorn, White sesame, Sesame seed, Broad with
belt, Corn meal, Potato flake, Mung bean's bried split, Black kidney bean,
Speckle kidney |
|
Seeds |
Sesbania seed, Lucerne seed |
|
Nut Food |
Blandched ahricot kernels, Almond |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
Subject has little
domestic purchase.
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
CBD, etc |
100% |
Sales
Domestic Markets
(Taiwan)
|
Sales Terms |
Proportion |
|
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Food ingredients, etc |
COD, CBD, etc |
100% |
Export
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 Mr. Wang declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
|
Name |
Hua Nan Commercial Bank Ltd Taipei City, Taiwan |
Note: The supplied bank information was not confirmed by subject; from
other source we cannot 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 |
Mr. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
|
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.