MIRA
INFORM REPORT
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Report Date : |
16.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
PAI LUNG MACHINERY MILL CO., LTD. |
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Registered Office : |
Juifang Industrial Park 8 Ting Ping Rd,
Juifan Chen Taipei Hsien 224 |
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Country : |
TAIWAN |
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Financials (as on) : |
31.12.2002 |
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Date of Incorporation : |
10.06.1977 |
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Com. Reg. No.: |
20765242 |
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Legal Form : |
Private
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Line of Business : |
Importation
of raw materials. Assembly
and production of finished products. Export
of its finished products. Engaged
in OEM activities. Provides
trial run, pattern design and maintenance. |
RATING & COMMENTS
|
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 150,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
PAI LUNG MACHINERY MILL CO., LTD.
address
JUIFANG INDUSTRIAL PARK 8 TING PING RD
JUIFAN CHEN TAIPEI HSIEN 224, TAIWAN
TEL: 886-2-24978888
FAX: 886-2-24965666
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 10, 1977
REGISTRATION NO. :
20765242
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. PING-TZU WANG (CHAIRMAN)
STAFF STRENGTH :
164
CAPITAL :
US$ 14,993,954
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 1,366,853,000 (AS OF DEC. 31, 2002)
EQUITIES :
NTD 293,012,000 (AS OF DEC. 31, 2002)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : USD 150,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.2795 = US$1 AS OF 2006-11-16
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
*Company History*
===============
1977 - Founded as a manufacturer of circular
knitting machines.
1979 - Moved to Nan-Kang
1992 - Released electronic six-color auto stripper.
- Established Management Information System (MIS)
June 1996
- Became a Public Company.
1998 - Set up Panchiao branch offices.
- Moved to present address.
1999 - Developed new models of machineries.
26 April, 2004 - Reverted to Private Company approved and implemented by
the Taiwan Securities
and Futures Commission, Ministry of
Finance
*Company Registration*
====================
License number
: 20765242
Date issued : 10 June, 1977
Issuing authority : Ministry of Economic
Affairs (MOEA)
*Capital Details*
============
Initial authorized capital : NTD 5,000,000.00
Authorized capital increases as follows :
Date Amount (NTD)
------ --------------------
1991 25,000,000.00
1993 100,000,000.00
1997 390,880,000.00
1998 452,111,590.00
Paid-up capital
: NTD 250,588,290.00
*Office & Facilities*
===============
Size : 4,000 sq. feet (Approximate)
Location : Juifang Industrial Park
Property status
: Owned by PAI LUNG MACHINERY
MILL CO LTD
Type of building : Industrial &
Commercial mixed
Comments
: Serves as head office, warehouse, and maintain a factory.
Other fax no.
: 2-24965002
Previous Contact Details
---------------------------------
Address : 1Fl, 10, Alley 14, Lane 21, San Chung Rd
Nankang Dist., Taipei
Tel no. :
2-27836688
Fax no. :
2-26522557
*Corporate & Organization Structure*
===========================
A large sized company operated and managed by an
experienced team of professionals.
*Factories, Size & Locations*
======================
Type of building
: Industrial
Building size : 38,000 sq. feet (Approximate)
Location : Juifang Industrial Park
*Licenses & Permits*
================
License number
: 9961754500
Type of license
: License for factory.
*Industry Ranking*
==============
Year
Rank
-----
-----
1992
722
*Sales Ranking*
============
Details of Rank are as follows:
Year
Rank
------
------
1998
671
1997
651
1996
627
*Reputation*
==========
Reference checking for the purpose of establishing
the firm's reputation within the respective industry failed to reveal any
negative information.
www.pailung.com.tw The design is professional and
the content is well organized. At present it is both in Chinese and English
version.
E-mail: salesman@pailung.com.tw
For the
past two years there is no record of litigation.
*Major Shareholders*
================
Shareholders' Names No. of Shares
---------------------------- ------------------
Mr. Ping-tzsu Wang 4,728,720
Mr. Po-chen Chen 4,728,720
Mr. James Chien-chang Wang 1,637,410
Mr. Wen-yi Chen 1,497,296
Mrs. Chin-hua Chen Lin 1,167,133
Mr. Cheng-teh Lin 78,475
Mr. Shin-yang Chen 10,708
Mr. Chung-ming Wu -
Management: Mr.
Brian Lan, Sales Manager
Mr. Cheng-te Lin,
Engineering Manager
Mr. James Chien-chang Wang,
General Manager
*COMPANY MANAGEMENT*
========================
Name Nationality
Job Description Dept. / Division
1 Mr. Brian Lan Taiwanese
Sales Manager -
2 Mr. Cheng-te Lin Taiwanese
Engineering Manager -
3 Mr. James Chien-chang Wang Taiwanese General
Manager -
4 Mr. Lion Ching Taiwanese
Marketing Executive -
5 Mr. Ping-tzu Wang Taiwanese Director -
6 Mr. Po-chen Chen Taiwanese
Vice Chairman -
7 Mr. Po-long Chin Taiwanese
MIS Manager -
8 Mr. Tsung-chen Tu Taiwanese R&D Manager -
9 Mr. Wen-yi Chen Taiwanese
Production Manager -
Management Details - 1
Name : Mr. Brian Lan Sex : M
Email : brianlan@pailung.com.tw
Other Details : Age : 61 years
Responsibilities : Handles the daily sales
operation of the firm.
Work experience : More than 20 years
Management Details - 2
Name : Mr. Cheng-te Lin Sex : M
Management Details - 3
Name : Mr. James Chien-chang Wang Sex : M
Email : jameswang@pailung.com.tw
Management Details - 4
Name : Mr. Lion Ching Sex : M
Email : lionching@pailung.com.tw
Management Details - 5
Name : Mr. Ping-tzu Wang Sex : M
Other Details : Age : 61 years
Responsibilities : Handles the daily operation of
the firm including all financials and legal matters.
Work experience : More than 20years
Management Details - 6
Name : Mr. Po-chen Chen Sex : M
Management Details - 7
Name : Mr. Po-long Chin Sex : M
Management Details - 8
Name : Mr. Tsung-chen Tu Sex : M
Management Details - 9
Name : Mr. Wen-yi Chen Sex : M
*Key Personnel*
============
(1)
Ping-tzu Wang
Founder : Co-Founder
Age : 61 years
Responsibilities
: Handles the daily operation of the firm including all financials and
legal matters.
Work experience : More than 20 years
(2)
Brian Lan
Age : 61
years
E-mail address
: brianlan@pailung.com.tw
Responsibilities
: Handles the daily sales operation of the firm.
Work experience : More than 20 years
(3)
Lion Ching
E-mail address : lionching@pailung.com.tw
(4)
James Chien-chang Wang
E-mail address : jameswang@pailung.com.tw
*Main Products & Services*
=====================
Specializing in five (5) main areas of work:
1. Importation of raw materials.
2. Assembly and production of finished products
such as circular knitting machines incorporating some of
the raw
materials imported.
3. Export of its finished products.
4. Provides trial run, pattern design and
maintenance.
5. Engaged in OEM activities.
Products are categorized into the following:
1) Ordinary:
1.
Single knit machine series
-
Two/Four-track machine
-
Mini-jacquard machine
-
Three-end fleece machine
-
Electronic four-color and six-color stripper machine
2.
Double knit machine series
-
Large/mini jacquard machine
-
Computerized electronic jacquard knitting machine
-
Electronically controlled four and six colors striper machine
3. Rib
knit machine series
-
Four-track rib machine
- Rib
mesh pattern wheel
-
Electronic jacquard machine
4. Terry
knit machine series
-
Single face & double face terry machine
-
pile shearing machine
-
pile cutting electronic jacquard machine
2) Mechanical Jacquard
3) Computerized-controlled models
1.
Computer-controlled color knitting machines
-
Single and double knit 4/6 color stripper knitting machines
-
Single knit 4/6 color pattern jacquard models
2.
Computer jacquard knitting machines
-
Single knit computer jacquard
-
Double knit computer jacquard
-
Rib mesh transferred pattern jacquard
-
Single eyelet jacquard knitting machines
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Single knit float plating computer jacquard
-
Terry jacquard models
Also introduced more than 35 different machines including
the following:
- Fully electronic needle selection jacquard
machines
- Double-knit 37-step mini-jacquard with sinker
ring machines
Products: Circular knitting machines
Household sewing machine parts
Knitting machinery
Machinery electrical parts
Textile auxiliary machinery
*Brand*
======
PAI LUNG
*Payment Terms*
=============
Sales
------
Local :
Cash
30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
--------------
Local :
Cash
30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Accountants*
===========
- KPMG CERTIFIED PUBLIC ACCOUNTANTS, Taiwan
*Long & Short Term Investment*
========================
Type of investment : Plant Construction (Juifang
factory)
Year of investment
: 1993
Investment amount : USD16 million
Other investors : - HONG KONG BANK
- CHINA VENTURE MANAGEMENT
INC
*Machinery & Equipment*
====================
Machinery/ Equipment include:
- High-frequency inducting heater
- Flexible manufacture system (FMS)
- Vertical machine center
- Advance CNC machines
*Production Capacity*
==================
Item
: Knitting machines and components
Current capacity : 1,143 sets/year
Maximum capacity
: 1,800 sets/year
*Detailed Product Specifications*
========================
Product
: Six-color Auto Stripper
Features
: Capable of carrying six different yarn colors and now patented in many
other countries.
*Technologies Developed and/or Acquired*
===============================
The following technologies have been developed:
(1)
Name of technology: Side milling technology
Other details
: Sinkers are
adopted with side milling technology, specially designed by PAI LUNG. It can
eliminate the yarn tension during the needle movement and decrease the frequency
of disruption in operation. It can also reduce the rate of hollowed fabrics to
increase the efficiency of the machine and the fabric quality.
(2)
Name of technology : Double side terry with
computer jacquard
Megapile with computer jacquard
Swing cams
Year developed : 1999
*Competitors*
===========
The following locally based companies supply
similar range of products :
- GLISTER MACHINERY INDUSTRIAL CORP
- LKM KNITTING MACHINERY CO LTD
- TAIWAN GIU CHUN INDUSTRIAL CO LTD
- YU JONG MACHINERY CO LTD
- WELLMADE ENTERPRISE CO LTD
*Quality Certification*
==================
Obtained the following certifications :
(1)
Type of certification : ISO - 9000
Issuing authority : ROC's Bureau of Commodity Inspection
Status : Pending
Other details : Although it is not required for a knitting machine
manufacturer to undergo ISO 9000 approval, The Company has applied for approval
to be recognized as a manufacturer of
high quality and world-class products.
(2)
Type of certification : European safety standard (CE) mark
Issuing authority : AVI LTD
Year of certification : 1995
(3)
Type of certification : CE Mark
Issuing authority : AVI CO - Belgium
Year of authority : 1995
*Patents*
========
Maintains 90 patent rights both in Taiwan and
overseas which includes the following :
(1)
Product :
Swiveled course change device
(2)
Year of registration : 1995
Product : Mono System (MS)
Other details : Used in the machine in over 10 nations.
*Awards*
========
Received the following awards :
(1)
Award
: Golden Dragon Award
Year
: 1981-1983
Details
: Awarded for machine design for its 16" and 30" cog-style
double knitting machine.
(2)
Award
: National Award of Excellence ("Very Well Made in Taiwan")
Awarded by : Ministry of Economic Affairs (MOEA)
Year
: 1993
Details
: Awarded to honor the company's enhancing image of Taiwan's product
(3)
Award : National Award of Excellence
Year
: 1996
Details
: Awarded to honor the company's enhancing image of Taiwan's
product
*Domestic Raw Material Suppliers*
==========================
Major local suppliers include:
Company Name
Material / Components
--------------------
---------------------------------
YUAN CHIEH CASTING INDUSTRY CO LTD Casting
KAUYEH INDUSTRIAL CO LTD Casting
MEMMINGER-IRO (ASIA) CO LTD Roving
creel
CHINA HUASENG ELECTRICAL CO LTD Control Box
*Domestic Customers*
=================
Major local customers include:
- GAU HONG ENTERPRISE CO LTD
- HEWLETT PACKARD TAIWAN LTD
- KING TEXTILE CO LTD
- MONARCH INDUSTRIAL CORP
*Imports*
========
The following auxiliary products equipped in
knitting machines are imported:
Product Country
-----------
------------
Yarn storage unit Germany, USA
Yarn support pressured oil lubricator Germany, USA
Frequency variation inverter Japan
*Local Distribution Network*
=====================
10% of the annual turnover is attributed to local
sales.
*International Trade Activity*
======================
1980 - Started to market its products in Malaysia
and Thailand under its own brand name, Pai Lung.
1986 - Began to established an international
marketing network under their own brand name.
*Export Markets*
==============
90% of the annual turnover is attributed to export,
which also include Monaco.
Products are exported to the following countries :
Country
% of Exports
-----------
-----------------
Asia 80
America 11
Europe 8
Others 1
*Overseas Agents & Distributors*
=========================
Maintains 36 overseas agents/distributors and
distribution channel in 32 countries around the world.
*Overseas Suppliers*
================
(1)
Supplier's name : GROZ-BECKERT KG
Country : Germany
Materials/Component : Knitting needles
(2)
Supplier's name : MEMMINGER-IRO GMBH
Country : Germany
Materials/Component : Yarn storage device and Tube style yarn support
*Overseas Customers*
==================
Company name : MORCHEM CORP
Country : USA
*International Exhibition Participation*
==============================
Exhibition fair : International Textile Machine (ITMA)
Year attended : 1995
Location
: Milan, Italy
*(Subsidiaries, Joint-ventures &
Affiliates)
===============================
Company Name : CROWN PASA IND CO LTD
Global Identifier : P0874305
Country : Taiwan
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry : Machinery
Company Name : HORN-SHUOH ENTERPRISE CO LTD
Global Identifier : P0238842
Address : 144 Huan Ho St Hsihchih City 221 Taipei
Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Trader
Industry : Machinery
Company Name : KEEN FORTUNE (HK) LTD
Global Identifier : P0238849
Address : Rm 907 Charm Centre 700 Castle Peak Rd
Kowloon Hong Kong
Country : Hong Kong
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Trader
Industry : Machinery
Company Name : NOVA / PAILUNG KNITTING MACHINERY
LLC
Global Identifier : P0326404
Country : USA
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : PAI CHING CO LTD
Global Identifier : P0238846
Address : Juifang Industrial Park 55 Ting Ping Rd
Juifan Chen 224 Taipei Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Manufacturer
Industry : Machinery
Company Name : TRUSTNET (BRITISH VIRGIN ISLANDS)
LTD
Global Identifier : P0238799
Address : P O Box 3444 Road Town Tortola Virgin
Islands (British)
Country : Virgin Islands (British)
Relationship : Subsidiary
Legal Form : Private Limited Company
Company Type : Service
Industry : Financial Services - General
*OVERSEAS AGENTS AND DISTRIBUTORS*
====================================
Agent : MARUBENI TEKMATEX CORP
Global Identifier : P0219035
Country of Origin : Japan
Product Description : Circular knitting machines
Brand : Pai Lung
Year : 1999
PAYMENT RATING : 3 OBTAINED SCORES : 72
|
Implication |
Implications |
|
|
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 |
|
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.
*Bank Details*
============
Bank name :
HUA NAN COMMERCIAL BANK
Branch
: Nan-sung San
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales
Assets Net Income
1997 $49,928,481.48 $48,141,703.70 $1,034,074.07
1998 $42,925,666.67 $53,778,500.00 $1,040,200.00
1999 $38,076,187.50 $56,847,343.75 $624,406.25
2000 $38,773,001.56 $50,173,343.70 -$3,295,583.20
2001 $24,947,243.18 $41,528,583.87 -$7,121,067.90
2002 $39,288,674.91 $44,695,487.21 $1,151,595.29
2005 $49,921,011.06
$50,552,922.59 $916,271.72
*Int´l Trade Activity (Currency: U.S. $'s)
==============================
Year Imports
Exports Total
1997 n/a $43,437,778.89
$43,437,778.89
1998 n/a $37,345,330.00
$37,345,330.00
1999 n/a $33,126,283.13
$33,126,283.13
2000 $2,991,338.01
$42,774,210.02 $45,765,548.03
2001 $990,021.59
$23,083,049.91 $24,073,071.50
2002 $1,511,560.13
$28,810,793.33 $30,322,353.46
2003 $2,064,191.98
$33,918,284.00 $35,982,475.98
2004 $3,203,697.98
$32,301,500.00 $35,505,197.98
2005 $4,000,000.00
$35,000,000.00 $39,000,000.00
Over the
past 29 years, SC has made a stable growth with acceptable profit. It is
considered a credit line up to USD 150,000 appears to be within SC’s capacities.
Attached:
trade references
SIC
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service
Description
Importing 3600 Electronic
& Electric Equip.
Importing 3699 Electrical
equipment and supplies, and parts,
Importing 3965 Needles,
pins, buttons, and clothing fasteners
Manufacturing
3552 Textile machines, and parts and attachments,
Manufacturing
3559 Special industry machinery, and parts,
Service 8900 Services, NEC
Trading 3552 Textile machines, and parts and attachments,
Trading 3559 Special industry machinery, and parts,
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity
Code Product/Service
Description
Exporting 8447 Machines,
knitting, stitch-bond, lace, net etc.
Exporting 8447119000 Circular knitting machines with cylinder diameter not exceeding
165 mm,
other than for
knitting hosiery
Exporting 8447129000 Circular knitting machines with cylinder diameter exceeding 165
mm,
other than for
knitting hosiery
Exporting 8448 Auxiliary
machinery for use with textile machines
Exporting 8452 Sewing
machines (not book-sew), cover etc; needles
Exporting 8452900010 Parts of household sewing machines
Importing 8448 Auxiliary
machinery for use with textile machines
Importing 8448513000 Needles for knitting machines
Importing 8448515000 Sinkers, needles and other articles used in forming stitches
Importing 8479896000 Electromechanical appliances with self-contained electric
motors, not
specified or
included elsewhere in chapter 84
DETAILED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Exporting Weaving machinery
Importing Converters
Importing Electronics, equipment control
Importing Lubricating pots
Importing Tube style yarn supports
Importing Yarn storage devices
Importing Sinkers
Importing Needles
Importing Machine tool accessories
Importing Knitting needles
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Argentina
Exporting to Asia
Exporting to Australia
Exporting to Bangladesh
Exporting to Belgium
Exporting to Brazil
Exporting to Canada
Exporting to Chile
Exporting to China
Exporting to Colombia
Exporting to Egypt
Exporting to Europe
Exporting to France
Exporting to Germany
Exporting to Greece
Exporting to Guatemala
Exporting to Hong Kong
Exporting to India
Exporting to Indonesia
Exporting to Iran
Exporting to Israel
Exporting to Italy
Exporting to Japan
Exporting to Macau
Exporting to Malaysia
Exporting to Mauritius
Exporting to Mexico
Exporting to Middle East
Exporting to Nepal
Exporting to New Zealand
Exporting to Nigeria
Exporting to North America
Exporting to Oceania
Exporting to Pakistan
Exporting to Peru
Exporting to Philippines
Exporting to Poland
Exporting to Portugal
Exporting to Russia
Exporting to South Africa
Exporting to South Korea
Exporting to Spain
Exporting to Sri Lanka
Exporting to Syria
Exporting to Thailand
Exporting to Turkey
Exporting to USA
Exporting to United Kingdom
Exporting to Vietnam
Importing from Asia
Importing from China
Importing from Europe
Importing from Germany
Importing from Hong Kong
Importing from Japan
Importing from North America
Importing from USA
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|