MIRA
INFORM REPORT
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Report Date : |
24.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
VICTOR TAICHUNG MACHINERY WORKS CO LTD |
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Registered Office : |
266 Taichung Kang Rd Section 3 Hsitun Dist Taichung City
407 |
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Country : |
Taiwan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
October 8, 1963 |
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Com. Reg. No.: |
51817603 |
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Legal Form : |
Public Company |
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Line of Business : |
Imports of machine's components. Manufacturing of vertical and horizontal turning and machining
centers. Selling to both domestic and international markets. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
VICTOR TAICHUNG MACHINERY WORKS CO LTD
266 TAICHUNG KANG RD SECTION 3 HSITUN DIST TAICHUNG CITY 407, TAIWAN
TEL : 886-4-23592101
FAX : 886-4-23592943
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 8, 1963
REGISTRATION NO. :
51817603
LEGAL FORM :
PUBLIC COMPANY
CHIEF EXECUTIVE :
MR. MING-HO HUANG (GENERAL MANAGER)
STAFF STRENGTH :
755
CAPITAL :
US$ 60,350,030
BUSINESS LINE :
MANUFACTURER
TURNOVER :
$154,294,709.79 (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
EXCELLENT
RECOMM. CREDIT RANGE :
FAIRLY LARGE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 32.4900 = 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 –Taiwan New Dollars
*Corporate & Organization Structure*
=============================
A large-sized company operated and managed by an experienced team of
professionals.
*Company History*
===============
1954 -
Introduced industrial shaper as first product.
1960 - Produced its belt driven engine lathe.
1970 -
Exported the first engine lathe in USA.
1976 -
Used the name "VICTOR" in promoting its products in overseas market.
1979 -
Developed C-16 CNC flat bed lathe.
1984 -
Became the first Machine Tool maker in Taiwan to pass the JMI (Japanese Machine
Inspection) Standards.
1985 -
Vcenter-4 machining center introduced.
1988 -
Formed the Plastic Injection Molding Machine Department.
23 December, 1989 - Listed as
public company under ticker number 8707.
1990 -
Became a public licensed company with working capital USD 23.2 million.
1990 -
Introduced new Vcenter-65 Machining Center.
1991 -
Introduced Vturn-36, Vturn-46 CNC lathe, Vcenter-80 machining center and Vs
series
plastic injection machines.
1992 -
Victor CNC Plaza was established, based on automation demonstration, testing
and CNC
laboratory.
1993 -
Formed Valve Department.
1995 -
Its product Vturn-36 passes CE mark for product safety through TUVRheinland.
1997 -
Installed the first HMC FMS line in Taiwan to be completed developed in house.
1998 -
Introduced Vturn-26DT 4-axis CNC lathe, VTplus-20, Vcenter-55 & Vcenter-70.
1999 -
Introduced the first NVturn-26 CNC lathe with built-in DDS spindle and servo
driven turret
and 1st vertical lathe Vturn-V18W for wheel machining.
2000 -
Introduced Vturn-V20W, Vcenter-125 and Vcenter-85A/B/C
- Launched the new lathe models Vtum-II series horizontal lathes and
vertical lathes.
2001 - Introduced Vturn II-20
& 26, Vcenter-102A/B/C and Vcenter-145.
2003 -
Celebrated its 50th anniversary.
*Registrar*
=========
PRESIDENT SECURITIES CO LTD
*Company Name*
=============
Incorporated as : TAICHUNG MACHINERY WORKS CO LTD
Year of incorporation : 1954
Changed name to : VICTOR
TAICHUNG MACHINERY WORKS CO LTD
Date of change :
N/A
*Capital Details*
=============
Registered capital : NTD 1,200,000,000.00
Capital increase : NTD
2,000,000,000.00
Date of increase : N/A
Paid-up capital : NTD
1,100,000,000.00
(1)
Market capitalization : USD23.2
million
Year :
1990
(2)
Market capitalization : NTD
6,545,910,000.00
Year : 1995
*Licenses & Permits*
=================
(1)
License number : 9967036100
Date issued : 20
September, 1973
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 9967021000
Date issued : 24 May,
1989
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(3)
License number : 9963612700
Date issued : 6 January,
1986
Issuing authority : Industrial Development
Bureau, MOEA
Type of license : Factory
license
*Industry Ranking*
================
Generally regarded as one of the Top 1000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------- --------
2004 395
2005 381
2006 388
*Office & Facilities*
================
Size : 4,739
square meter (Approx.)
Location :
Taichung City
Type of building : Industrial
Building
Property status : Owned by
VICTOR TAICHUNG MACHINERY WORKS CO LTD
Comments : Serves as
office and factory
Other contact details
-----------------------------
Fax no : 4-23584542 / 4-23584141
E-mail : info@mail.or.com.tw
Website : www.victor-pim.com
Previous Contact Details
---------------------------------
(1)
Address : 86 Chien
Kuo Rd, 242, Taipei Hsien
Tel no. : 2-29044870
(2)
Tel no. : 4-23590591
Fax nos. : 4-23592425 / 23584141
*Factories, Size & Locations*
======================
The firm maintains manufacturing premises as listed below:
(1)
Size : 4,988square meter(Approx)
Location : Taichung City
Type of building : Industrial Building
Property status : Owned by VICTOR TAICHUNG MACHINERY
WORKS CO LTD
(2)
Size : 5,802 square meter(Approx)
Location : Taichung Hsien
Type of building : Industrial Building
Property status : Owned by VICTOR TAICHUNG MACHINERY WORKS CO LTD
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Auditors*
=========
DELOITTE & TOUCHE
Web
site: www.or.com.tw The design is professional and the content
is well organized. At present it is both in Chinese and English version.
Email : wnyne@mail.or.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
=================
Shareholders' Name No. of Shares
-------------------------- ------------------
Mr. Ming-ho Huang 133,717
Mr. Ming-kuo Huang 117,106
Mr. Tao-tung Lee 23,340
Mr. Ming-san Huang 33,092
Mr. Ming-tung Huang 199,842
Mr. Te-chin Huang 10,225
Mr. Shu-kai Lee 48,156
Management : Mr. Wen-chih Hsu,
Manager
Mr. Ming-ho Huang, General Manager
Mr. Fu-shen Liao, Manager
Name Nationality
Job Description Dept. / Division
Mr. Wen-chih Hsu Taiwanese
Manager Finance
Mr. Ming-ho Huang Taiwanese
General Manager -
Mr. Fu-shen Liao Taiwanese
Manager -
Mr. Ming-san Huang Taiwanese
Supervisor -
Mr. Peter Shih-hua Chiu Taiwanese
Vice General Manager -
Mr. Ming-kuo Huang Taiwanese
Vice President -
*Key Personnel*
=============
Mr. Ming-ho Huang
Work experience : More than 20 years
Responsibilities : Handles the
daily operation of the firm including all financials, sales and legal matters.
Resident status : Taiwan
Other position : Chairman, YI
CHEANG CONSTRUCTION CO LTD
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Imports of machine's components.
2. Manufacturing of vertical and horizontal turning and machining
centers.
3. Selling to both domestic and international
markets.
Provides integral solution for alloy wheel machining.
Products : Anti-vibration
systems
Bearings
CNC lathes
CNC machining
Clamping system
Brand Fortune
Brand Victor
Brand Victor Taichung
Brand Vturn
*Payment Terms*
==============
Sales
-------
Local : 30 - 90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchase
-------------
Local : 30 - 90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Competitors*
============
The following locally based company supplies identical range of
products:
- ALEX-TECH MACHINERY INDUSTRIAL CO LTD
- BENIGN ENTERPRISE CO LTD
- BUFFALO MACHINERY CO LTD
- CHEN HSONG MACHINERY TAIWAN CO LTD
- DENVER INDUSTRIAL CO LTD
- AEROSPACE INDUSTRIAL DEVELOPMENT CORP (AIDC)
- HSIEH CHOU PLASTIC ENTERPRISE CO LTD
- JIANN SHENG MACHINERY & ELECTRIC INDUSTRIAL CO LTD
- EXTEND MOLD INDUSTRIAL CO LTD
- CHENG YU MACHINERY MFG CO LTD
- PROTH INDUSTRIAL CO LTD
*Associations*
============
Member of the following associations:
- Taiwan Association of Machinery Industry (TAMI)
- Taiwan Mold & Die Industry Association
*Exhibition Participation*
====================
Participated in the following local exhibitions :
(1)
Exhibition Fair : Taipei
International Plastic & Rubber Industry Show
Dates attended : 30 September, 1999
- 4 October, 1999
Location : Taipei
World Trade Center Exhibition Hall
(2)
Exhibition Fair : Taipei
International Machine Tool Show
Dates attended : 20-25 March, 2001
Location : Taipei
World Trade Center Exhibition Hall
(3)
Exhibition fair : Taipei
International Machine Tool Show
Dates attended : 18-23 March, 2003
Location : Taipei
World Trade Center- Exhibition Hall
(4)
Exhibition/Fair : TAIPEI PLAS -
Taipei Int'l Plastics & Rubber Industry Show
Dates attended : 23 March, 2006 - 27 March, 2006
Location : Taipei
World Trade Center (TWTC)
(5)
Exhibition/Fair : TIMTOS -
Taipei Int'l Machine Tool Show
Dates attended : 12 March, 2007 - 17 March, 2007
Location : Taipei
World Trade Center (TWTC)
*Awards*
========
Received the following awards:
(1)
Award : N/A
Date : November 1998
Other details : Such award is
its outstanding reputation from the China External Trade.
(2)
Award :
5th National Quality Award
Year :
1994
*Production Capacity*
==================
Item Current
capacity
-------
----------------------
CNC machines
1,350 per year
CNC lathes 1,200 per annum
Conventional lathes
100 unit per month
Quality meehanite castings
1,000 tons per
month
*Technologies Developed and/or Acquired*
==================================
(1)
Name of technology : N/A
Acquired from : Aero Industry Development Centre
Date acquired : September 1993
(2)
Product : Slant bed CNC lathe TNS-2
Award : N/A
Year : 1982
Awared by : Central
Standard Bureau of Taiwan
(3)
Product : Vcenter-65
Machining Center
Award : Top Honor Award
Year : 1990
Details : Award was during the International R&D competition.
(4)
Product : Vturn-20 CNC
lathe and EURO 130
Award : Silver Prize Award
Year : 1995
*Quality Certification*
=================
Obtained the following certifications:
(1)
Type of certification : ISO 9001
Year of certification : 1993
Other details
: Such certification is for the
three factories.
(2)
Type of certification : CE mark
Issuing authority : TUV Rheinland, Germany
Year of certification : 1995
(3)
Type of certification : EMC
(Electromagnetic Compatibility) certificate
Year of certification : 1996
Issuing authority : TUV Rheinland, Germany
Other details : Such certification is for Vturn-36 and
Vc-65,B80 CNC .
(4)
Type of certification :
ISO-14001
Year of certification : 1997
Issuing authority : TUV Rheinland, Germany
*Local Distribution Network*
=======================
Approximately 44% annual turnover is attributed to local sales.
*Domestic Suppliers*
=================
Major local suppliers include:
- FONGEI INDUSTRY CO LTD
- TSK DENKO CO LTD
- TAN STAR MATERIAL CO LTD
- HIWIN TECHNOLOGIES CORP
*Domestic Customers*
==================
Major local customers include:
- LITE-ON TECHNOLOGY CORPORATION
- FORCE TOP LIMITED
- SHIH CHUN ENTERPRISE CO
*International Trade Ranking*
=======================
The firm has been ranked among Taiwan's Top Importers/Exporters based on
the standard measured by the Board of Foreign Trade (BOFT).
Details of rank are as follows:
Year Rank
------ ----------
2001 585
2002 613
2003 557
2004 525
2005 414
*Export Markets*
==============
Approximately 56% annual turnover is attributed to export.
Products are exported to the following countries:
Country % of
Exports
----------------
---------------------
Asia 40.00
Europe 10.00
America 3.00
Other 3.00
*LOCAL BRANCHES & MANAGEMENT*
=================================
Branch : VICTOR TAICHUNG MACHINERY WORKS CO LTD - TAICHUNG CITY
Branch Address : Taichung Industrial Park 13, 11th Rd Hsitun Dist,
Taichung City, 407
Branch Tel : [+886] 4-23590919
Branch Fax : [+886] 4-2359242
Branch Employees : 150
Branch : VICTOR TAICHUNG MACHINERY WORKS CO LTD (DORMITORY) - LUNGCHIN
HSIANG
Branch Address : 14, Lane 45, Hsin Hsing Rd Lungchin Hsiang, Taichung
Hsien 434
Branch Tel : [+886] 4-26315133
Branch : VICTOR TAICHUNG MACHINERY WORKS CO LTD - TAINAN CITY
Branch Address : 23, Lane 20, Chun An Rd Section 4 Annan Dist, Tainan
City, 709
Branch Tel : [+886] 6-2833721
Branch Employees : 20
Branch : VICTOR TAICHUNG MACHINERY WORKS CO LTD - KUEISHAN HSIANG
Branch Address : 42 Ting Hu 2nd St Kueishan Hsiang, Taoyuan Hsien 333
Branch Tel : [+886] 3-3288296
Branch Employees : 10
*(Subsidiaries, Joint-ventures & Affiliates)
================================
Company Name : FORTUNE INT'L INC
Address : 56 Veronica Ave Somerset 08873 New Jersey USA
Country : USA
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
Company Name : VICTOR (THAILAND) CO LTD
Address : 723/1013 Charansanitwong Rd Bangbumru Bang Phlad Bangkok 10700
Thailand
Country : Thailand
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
Company Name : VICTOR EUROPE LTD
Address : Victor House Eagle Technology Park Rochdale QL112TQ Queensway
United Kingdom
Country : United Kingdom
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
Company Name : VICTOR FORTUNE PTY LTD
Address : Winnipeg Cnr Loper St Aeroport Spartan South Africa
Country : South Africa
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
Company Name : VICTOR FRANCE SA
Address : Bat 19-Cellule A BP 515 Garonor Aulnay-Sous-Bois 93619 France
Country : France
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
Company Name : VICTOR MACHINERY (M) SDN BHD
Address : 2 Jalan PSJ 11/16 Bandar Sunway Petaling Jaya 46150 Selangor
Malaysia
Country : Malaysia
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
Company Name : YI CHEANG CONSTRUCTION CO LTD
Address : 19Fl-5, 123 Taichung Kang Rd Section 3 19Fl Hsitun Dist
Taichung City 407 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Construction & Construction Materials
Company Name : ZHONG TAI PRECISION MACHINERY (GUANGZHOU) CO LTD
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
Company Name : ZHONGTAI PRECISION MACHINERY (TIANJIN) CO LTD
Address : Tianjin Economic Development Authority (TEDA) 16, 4th Ave
Tianjin 300457 China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Machinery
*OVERSEAS AGENTS AND DISTRIBUTORS*
=====================================
Agent : VICTOR CNC SYSTEMS CO LTD
Country of Origin : Hong Kong
Product Description : Lathes
Brand : Victor
Year : 2000
Agent : VICTOR CNC SYSTEMS CO LTD
Country of Origin : Hong Kong
Product Description : Milling machines
Brand : Victor
Year : 2000
Agent : GP SYSTEM (THAILAND) CO LTD
Country of Origin : Thailand
Product Description : Cnc lathes
Brand : Victor Taichung
Agent : VICTOR CNC SYSTEMS CO LTD
Country of Origin : Hong Kong
Product Description : Grinding machines
Brand : Victor
Year : 2000
Agent : VICTOR CNC SYSTEMS CO LTD
Country of Origin : Hong Kong
Product Description : Machining centers
Brand : Victor
Year : 2000
PAYMENT
RATING :1 OBTAINED SCORES :
85
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
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 FAIRLY
LARGE amounts depending on individual judgement experience.
*Bank Details*
============
Maintains an account in Taipei branch of the following banks:
Bank name Swiftcode
--------------- --------------
CITIBANK NA CITITWTX
LAND BANK OF TAIWAN
LBOTTWTP
No financial statement were available for this investigation
*Financial History*
===============
1989 -
Obtained a total gross revenue of about USD 61 million.
*Financial Summary (Currency:
U.S. $'s)
===============================
Year Sales Assets Net Income
1989 $61,000,000.00 $0.00 $0.00
1992 $61,203,782.00 $130,491,091.00 $1,906,800.00
1993 $63,024,255.00 $152,749,345.00 $110,945,500.00
1994 $79,188,727.00 $167,246,582.00 $4,354,727.00
1995 $111,156,364.00 $219,859,091.00 $8,990,764.00
1998 $178,326.47 $283,899.81 $0.00
2001 $77,597,214.16 $99,129,425.42 -$13,755,078.35
2002 $89,508,479.45 $134,435,182.52 -$12,273,641.85
2004 $133,864,661.65 $133,654,135.34 $62,645,112.78
2005 $152,632,290.68 $140,000,000.00 $50,583,538.70
2006 $154,294,709.79 $144,684,008.46 $22,922,853.69
*Int´l Trade Activity (Currency:
U.S. $'s)
===============================
Year Imports Exports Total
1996 $6,500,000.00 $74,900,000.00 $81,400,000.00
1997 $4,600,000.00 $55,000,000.00 $59,600,000.00
1998 $6,100,000.00 $44,800,000.00 $50,900,000.00
2004 $3,560,552.00 $67,683,840.00 $71,244,392.00
2005 $4,003,160.00 $87,810,894.00 $91,814,054.00
2006 $4,310,995.92 $91,165,730.14 $95,476,726.06
*Financial Ratios*
==============
Year Shareholder's Net Worth Return on Return
on Net Worth
Equity (NTDM) (NTDM)
Sales (%) Assets(%) (NTD100 M)
------- ------------------- ------------- -------------
------------- ---------------
1992 - 1341.75 3.12 -
-
1998 321.00 - - - -
2001 - - -17.73 -13.88 -
2002 - - -13.71 -9.13
-53.49
SC is considered an old-established business with acceptable financial
base to meet fairly large amount of credit dealings.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3491 Industrial
Valves
Exporting 3494 Valves
and pipe fittings
Importing 3462 Iron
& steel forgings
Importing 3562 Ball
and roller bearings, and balls, rollers and parts
Importing 3566 Speed
changers, drivers, and gears, and parts
Manufacturing 3500 Industrial
Machinery & Equipment
Manufacturing 3541 Machine
tools, metal-cutting, and parts
Manufacturing 3542 Machine
tools metal-forming, and parts
Manufacturing 3545 Machine
tool accessories, and parts
Manufacturing 3549 Metalworking
machinery
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8458 Lathes
for removing metal
Exporting 8462 Machine
tools for forging, bending, stamping etc
Exporting 8466 Parts
etc for machine tools of head 8456 to 8465
Exporting 8477 Machinery
for working rubber & plastic etc, parts
Exporting 8477800000 Machinery, for working rubber or plastics or for the
manufacture of products form
these
materials
Exporting 8481 Taps,
cocks, valves etc for pipes, tanks etc, parts
Exporting 8481803040 Taps, cocks and valves, of iron, hand operated
Exporting 8481809050 Other taps, cocks, valves, etc.
Exporting 8481909060 Valve bodies
Importing 7308 Structures
& parts thereof, of iron or steel
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter CNC lathes
Exporter Machining
centers
Exporter Injection
moulding machines
Exporter Plastic
machineries
Exporter Industrial
valves
Exporter Plastic
injection moulding
Exporter Conventional
lathes
Exporter Precision
engine lathes
Exporter Valves
Importer Shaft fixed
speed transmission
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Exporting to Algeria
Exporting to Argentina
Exporting to Asia
Exporting to Australia
Exporting to Brazil
Exporting to Canada
Exporting to China
Exporting to Denmark
Exporting to Ecuador
Exporting to Egypt
Exporting to Europe
Exporting to Finland
Exporting to France
Exporting to Germany
Exporting to Greece
Exporting to Hong Kong
Exporting to Iceland
Exporting to India
Exporting to Indonesia
Exporting to Iran
Exporting to Ireland
Exporting to Israel
Exporting to Italy
Exporting to Japan
Exporting to Latvia
Exporting to Malaysia
Exporting to Mexico
Exporting to Middle East
Exporting to Netherlands
Exporting to New Zealand
Exporting to North America
Exporting to Norway
Exporting to Oceania
Exporting to Philippines
Exporting to Poland
Exporting to Portugal
Exporting to Romania
Exporting to Russia
Exporting to Singapore
Exporting to South Africa
Exporting to South Korea
Exporting to Spain
Exporting to Sri Lanka
Exporting to Sweden
Exporting to Switzerland
Exporting to Thailand
Exporting to Turkey
Exporting to UAE
Exporting to USA
Exporting to United Kingdom
Exporting to Venezuela
Exporting to Vietnam
Importing from Asia
Importing from China
Importing from Europe
Importing from Germany
Importing from Hong Kong
Importing from Italy
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. |
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 |
|
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%)