MIRA
INFORM REPORT
|
Report Date : |
14.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHOONGWAE HOLDINGS CO., LTD |
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Registered Office : |
698, Sindaebang 1-dong, Dongjak-gu, Seoul |
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Country : |
Korea |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
07.03.2007 |
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Com. Reg. No.: |
108-81-80331 |
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Legal Form : |
Limited Company |
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Line of Business : |
Medicine, Holding
Company, Real Estate Leasing, Real Estate Purchasing & Selling, Investment
& Management Consulting |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Basic Information
Basic
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Company Name |
CHOONGWAE HOLDINGS CO., LTD. |
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Registered
Address |
698, Sindaebang 1-dong, Dongjak-gu, Seoul, Korea |
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Building |
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Zip Code |
156-854 |
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Tel |
+82-2-840-6777 |
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Fax |
+82-2-843-7696 |
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Website |
www.cwp.co.kr |
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Trading Address |
698, Sindaebang 1-dong, Dongjak-gu, SEOUL, KOREA |
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Tel |
+82-2-840-6777 |
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Fax |
+82-2-843-7696 |
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Type |
Export/Import |
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Industry |
Holding Companies |
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Main Business |
Medicine, Holding
Company, Real Estate Leasing, Real Estate Purchasing & Selling,
Investment & Management Consulting |
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Sub Business |
Wholesale of Medicine and Medical Goods |
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Established
(mm/dd/yyyy) |
07/03/2007 |
Detailed Products
|
Activity |
Detailed Products
(UNSPSC) |
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Sell |
Antibiotics(51101500) |
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Sell |
Antineoplastic agents(51110000) |
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Sell |
Dietary supplements and nutritional therapy products(51191900) |
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Sell |
Antifungal drugs(51101800) |
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Sell |
Glucosamine(51142149) |
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Sell |
Antiulcer and related gastrointestinal GI drugs(51171900) |
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Sell |
Oxytocin(51182203) |
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Sell |
Antifungal drugs(51101800) |
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Sell |
Nonsteroidal anti inflammatory drugs NSAIDs(51142100) |
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Sell |
Anaesthetic drugs and related adjuncts and analeptics(51142900) |
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Sell |
Lens cleaner(46181806) |
CEO’s
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Name |
Lee Kyung-Ha |
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Address |
653, Gaepo-dong,
Gangnam-gu, Seoul, Korea |
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Date of Birth |
08/29/1963 |
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Title |
President &
CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital |
12,746,065,000 KRW |
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Employees |
89 |
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Formation |
Listed Company
(KOREA STOCK EXCHANGE: 096760) as of 07/31/2007 |
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Bank Details |
SC First Bank of
Korea Woori Bank |
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Corporate
Registered No. |
110111-3710468 |
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Business
Registered No. |
108-81-80331 |
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Permit &
Licenses |
N/A |
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Shareholder
Position |
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Company History |
CHOONGWAE PHARMA CORP 08/1953 Incorporated as CHOONGWAE PHARMA CORP. 06/1976 Listed at KSE Market After Spin-Off 07/03/2007Incorporated as a Holding company after spin-off from CHOONGWAE PHARMA CORP.(110111-0019342) |
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The Subject Company
is a Korea-based holding company that is engaged in the management of subsidiaries.
The Company operates through four subsidiaries: ChoongWae Chemical Corporation,
which is engaged in the manufacture of medical compounds and antibiotics;
Choongwae Medical Corporation, which is involved in the manufacture and sale of
medical equipment; Choongwae Shin-yak Corporation, which is engaged in the
manufacture of pharmaceuticals, and Choongwae Industrial Corporation Ltd, which
is a manufacturer of automobile accessories. The Company is also engaged in the
import and export, real estate leasing, brand licensing and investment
consulting businesses.
Ⅱ. Detailed Information
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman &
CEO |
Mr. |
Lee Kyung-Ha |
Korean |
1932.12.01 |
Dongkuk University |
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President & CEO |
Mr. |
Lee Jong-Ho |
Korean |
1963.08.29 |
Sungkyunkwan University |
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Director |
Mr. |
Han Sung-Kwon |
Korean |
1957.11.05 |
Chungbuk National University |
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Director |
Mr. |
Jung Jae-Kwan |
Korean |
1941.03.22 |
Seogang University |
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Director |
Mr. |
Kim Jong-Wook |
Korean |
1945.01.17 |
Seoul National University |
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Auditor |
Mr. |
Yeom Chan-Yeob |
Korean |
1962.01.05 |
Korea University |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
- |
81,761,025,540 |
- |
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2005 |
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Financial Description Unit: KRW
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Authorized
Capital |
45,000,000,000 |
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Paid-Up Capital |
12,746,065,000 |
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Total Issues
Shares |
5,098,426 |
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Balance Sheet |
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Unit : Korean Won |
The Subject Company |
Choongwae Pharma Corp |
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|
01/01/2007~-09/30/2007 |
As
of 12/31/2006 |
As
of 12/31/2006 |
|
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Total Assets |
89,913,246,235 |
81,761,025,540 |
361,205,306,663 |
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Current Assets |
16,740,554,028 |
15,933,695,194 |
172,024,193,783 |
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-Quick Assets |
16,544,271,525 |
15,796,360,311 |
126,193,728,365 |
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-Inventories |
196,282,503 |
137,334,883 |
45,830,465,418 |
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Fixed Assets |
73,172,692,207 |
65,827,330,346 |
189,181,112,880 |
|
-Investment |
42,186,075,521 |
36,859,624,791 |
78,176,754,721 |
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-Tangibles |
29,513,569,716 |
28,966,751,188 |
92,827,080,705 |
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-Intangibles |
594,000 |
954,367 |
18,177,277,454 |
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-Others |
1,472,452,970 |
- |
|
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Total Liabilities |
14,470,469,597 |
12,565,729,845 |
181,485,390,761 |
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Current
Liabilities |
12,680,129,245 |
6,863,673,736 |
100,558,647,732 |
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Fixed Liabilities |
1,790,340,352 |
5,702,056,109 |
80,926,743,029 |
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Capital Stock |
12,746,065,000 |
12,422,635,000 |
34,217,750,000 |
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Capital Surplus |
57,921,103,035 |
54,122,283,079 |
75,182,193,829 |
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Profit Surplus |
(-)3,626,272,781 |
- |
77,998,460,686 |
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Capital
Adjustment |
8,401,881,384 |
2,650,377,616 |
(-)7,678,488,613 |
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Total Equity |
75,442,776,638 |
69,195,295,695 |
179,719,915,902 |
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Liab. & Shareholder’s
Equity |
89,913,246,235 |
81,761,025,540 |
361,205,306,663 |
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Current
Liabilities |
12,680,129,245 |
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Trade Payables |
4,494,739,568 |
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Short-Term Borrowings |
5,400,000,000 |
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Account Payables |
170,117,779 |
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Advance Receipts |
740,000,000 |
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Withholdings |
177,144,976 |
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VAT Withhold |
63,691,477 |
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Accrued Expense |
42,137,837 |
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Accrued Income Tax |
1,356,794,578 |
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Guarantee Deposit Received |
179,350,000 |
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Current Portion of Deferred Income Tax Credit |
56,153,030 |
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Fixed Liabilities |
1,790,340,352 |
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Provision for Severance & Retirement |
1,712,128,220 |
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Non-Current Portion of Deferred Income Tax Credit |
907,397,204 |
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Income Statement |
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Unit : Korean Won |
The Subject Company |
Choongwae Pharma Corp |
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|
01/01/2007~-09/30/2007 |
As
of 12/31/2006 |
As
of 12/31/2006 |
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Sales |
8,002,688,948 |
|
342,767,189,415 |
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Cost of Sold
Goods |
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|
178,080,550,475 |
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Gross Profit |
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|
164,686,638,940 |
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Selling &
Admin. Expenses |
10,367,024,102 |
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117,633,971,906 |
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Operating Income |
(-)2,364,335,154 |
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47,052,667,034 |
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Non-Operating
Income |
396,819,734 |
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5,169,508,840 |
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Non-Operating
expenses |
558,045,274 |
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27,989,931,297 |
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Ordinary Income |
(-)2,525,560,694 |
|
24,232,244,577 |
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Special Income |
- |
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- |
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Income Before
Taxes |
(-)2,525,560,694 |
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24,232,244,577 |
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Income Taxes
Expenses |
1,100,712,087 |
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13,475,346,037 |
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Net Income |
(-)3,626,272,781 |
|
10,756,898,540 |
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Cash Flows |
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Unit : Korean Won |
The Subject Company |
Choongwae Pharma Corp |
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|
01/01/2007~-09/30/2007 |
As
of 12/31/2006 |
As
of 12/31/2006 |
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Cash Flows from
Operating |
4,291,037,969 |
|
30,529,961,366 |
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-Net Income |
(-)3,626,272,781 |
|
10,756,898,540 |
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-Exp. without
Cash Outflow |
4,585,008,610 |
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42,409,529,153 |
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-Revenue without
Cash Inflows |
(-)1,237,793,023 |
|
(-)927,406,818 |
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-Changes in
Asset/ & Liability |
4,570,095,163 |
|
(-)21,709,059,509 |
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Cash Flows from
Investing |
(-)278,596,206 |
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(-)11,758,890,088 |
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-Cash Inflow from
Investing |
6,062,254,867 |
|
65,785,193,591 |
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-Cash Outflows
for Investing |
(-)6,340,851,073 |
|
(-)77,544,083,679 |
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Cash Flows from
Financing |
(-)4,600,000,000 |
|
(-)15,087,675,175 |
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-Cash Inflows
from Financing |
- |
|
122,500,263,075 |
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-Cash Outflows
from Financing |
(-)4,600,000,000 |
|
(-)137,587,938,250 |
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Increase/Decrease
in Cash |
(-)587,558,237 |
|
3,683,396,103 |
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Cash at the
Beginning of Year |
1,007,268,742 |
|
13,578,597,535 |
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Cash at the End
of Year |
419,710,505 |
|
17,261,993,638 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Holding Company Real Estate
Leasing, Purchasing & Selling Investment &
Management Consulting |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
CHOONGWAE PHARMA
CORP.(110111-0019342 CHOONGWAE SHIN-YAK
CORPORATION(110111-0304149) CHOONGWAE
INDUSTRIAL CORPORATION LTD.(110111-0601454) CHOONGWAE
CHEMICAL CORPORATION(135011-0057395) CHOONG WAE
MEDICAL CORPORATION(110111-3330935) CHOONGWAE
INFORMATION & TECHNOLOGY CO., LTD. C&C NEW
PHARMA RESEARCH CENTER |
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 |
|
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. |
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 |
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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%)