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MIRA
INFORM REPORT
|
Report Date : |
26th February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
POSCO STEEL SERVICE & SALES CO., LTD. (POSTEEL) |
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Registered Office : |
Posteel Tower, 735-3, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea |
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Country : |
Korea |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
24.02.1983 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Wholesale of Metal Plates, Bars, Pipes, and Basic Metals |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Basic Information
|
Company Name |
Posco
Steel Service & Sales Co., Ltd. (POSTEEL) |
|
Address |
Posteel
Tower, 735-3, Yeoksam 1-dong, Gangnam-gu, SEOUL, KOREA |
|
Zip Code |
135-923 |
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Tel |
+82-2-3469-5000 |
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Fax |
+82-2-3469-6741 |
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E-mail |
webmaster@posteel.co.kr |
|
Website |
www.posteel.com |
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Type |
Export/Import |
|
Industry |
Wholesale of Metal Plates, Bars, Pipes, and Basic Metals |
|
Main Business |
Steel Plate, Electrical Steel, Stainless Steel ,Wire Rod |
|
Established |
02/24/1983 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Stainless steel plate(30102205) |
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Sell |
Steel plate(30102204) |
|
Sell |
Billets(30103300) |
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Sell |
Beams(30101700) |
Others
|
Name |
Kim Song |
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Address |
- |
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Date of Birth |
07/03.1947 |
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Title |
President & CEO |
|
Sex |
Male |
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Nationality |
Korean |
|
Capital |
90,000,000,000 KRW |
|
Employees |
116 |
|
Formation |
Co., Ltd by shares, A company of POSCO
Group |
The subject is established for POSCO’s
products sales to domestically and internationally.
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Kim Song |
Male |
Korean |
03/03/2005 |
|
Executive Director |
Mr. |
Park Wan-Shin |
Male |
Korean |
03/07/2006 |
|
Executive Director |
Mr. |
Choi Seung-Kyu |
Male |
Korean |
03/03/2005 |
|
Auditor |
Mr. |
Shin Jin-Ho |
Male |
Korean |
03/03/2005 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
1,533,589,986,053 |
448,809,482,954 |
17,909,227,411 |
|
|
2004 |
1,471,794,906,176 |
467,573,651,374 |
24,264,296,457 |
|
2003 |
1,257,850,639,472 |
466,843,629,077 |
973,599,879 |
Financial
Description
Unit: KRW
|
Authorized Capital |
177,000,000,000 |
||
|
Paid-Up Capital |
90,000,000,000 |
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Total Issues Shares |
18,000,000 |
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Balance
Sheet Unit :
Korean Won |
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|
|
As of 12/31/2005 |
As of 12/31/2004 |
As of 12/31/2003 |
|
Total Assets |
448,809,482,954 |
467,573,651,374 |
466,843,629,077 |
|
Current Assets |
141,833,794,416 |
156,804,229,853 |
119,147,972,079 |
|
-Quick Assets |
122,890,761,693 |
129,613,106,630 |
98,959,244,791 |
|
-Inventories |
18,943,032,723 |
27,191,123,223 |
20,188,727,288 |
|
Fixed Assets |
306,975,688,538 |
310,769,421,521 |
347,695,656,998 |
|
-Investment |
153,802,707,362 |
152,292,584,434 |
183,808,625,763 |
|
-Tangibles |
152,667,766,546 |
157,249,117,990 |
161,536,260,739 |
|
-Intangibles |
505,214,630 |
1,227,719,097 |
2,350,770,496 |
|
Total Liabilities |
161,603,828,226 |
193,291,567,302 |
209,835,321,527 |
|
Current Liabilities |
141,178,249,782 |
178,845,340,134 |
193,893,475,288 |
|
Fixed Liabilities |
20,425,578,444 |
14,446,227,168 |
15,941,846,239 |
|
Capital Stock |
90,000,000,000 |
90,000,000,000 |
90,000,000,000 |
|
Capital Surplus |
117,411,635,161 |
117,411,635,161 |
117,411,635,161 |
|
Profit Surplus |
92,285,748,073 |
83,376,520,662 |
60,012,224,205 |
|
Capital Adjustment |
(-)12,491,728,506 |
(-)16,506,071,751 |
(-)10,415,551,816 |
|
Total Equity |
287,205,654,728 |
274,282,084,072 |
257,008,307,550 |
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Liab. & Shareholder’s Equity |
448,809,482,954 |
467,573,651,374 |
466,843,629,077 |
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Income Statement Unit : Korean Won |
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As of 12/31/2005 |
As of 12/31/2004 |
As of 12/31/2003 |
|
Sales |
1,533,589,986,053 |
1,471,794,906,176 |
1,257,850,639,472 |
|
Cost of Sold Goods |
1,492,243,435,996 |
1,425,758,229,043 |
1,221,734,961,443 |
|
Gross Profit |
41,346,550,057 |
46,036,677,133 |
36,115,678,029 |
|
Selling
& Admin. Expenses |
33,551,323,364 |
28,006,796,016 |
28,229,534,022 |
|
Operating Income |
7,795,226,693 |
18,029,881,117 |
7,886,144,007 |
|
Non-Operating Income |
45,550,157,170 |
38,922,654,426 |
19,011,588,624 |
|
Non-Operating expenses |
29,434,816,541 |
21,128,071,465 |
25,925,398,559 |
|
Ordinary Income |
23,910,567,322 |
35,824,464,078 |
972,334,072 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
23,910,567,322 |
35,824,464,078 |
972,334,072 |
|
Income Taxes Expenses |
6,001,339,911 |
11,560,167,621 |
(-)1,265,807 |
|
Net Income |
17,909,227,411 |
24,264,296,457 |
973,599,879 |
|
Bank Details |
S.C First Bank of Korea Gangnam Station Branch |
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Corporate Registered No. |
110111-0344591 |
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Business Registered No. |
220-81-04666 |
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Permit & Licenses |
ISO9002 Int’l Trade No.: 842653 |
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Shareholder Position |
POSCO :95.3% Pohang University of Science and Technology
:4.7% |
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Company History |
1983 Mar. 02 Established Geo Yang
Corporation 1994 Jul.
POSTEEL Co., Ltd. established as the exclusive domestic sales and
service company for POSCO steel products
1994 Jul.
POSTRADE Inc. established as the exclusive international trade company
for POSCO steel products 1994 Sep.
POSTEEL commences domestic sales / POSTRADE commences international
sales 1994 Dec.
Overseas affiliates transferred from POSCO to POSTRADE 1995 Dec.
POS-Tianjin Coil Center Co., Ltd. (China) completed 1996 Jun.
Suzhou Dongshin Color Metal Sheet Co., Ltd. (China) completed 1996 Jul.
POSTEEL merges with POSTRADE, and changed company name to the present
name 1997 Sep.
Receives Grand Prize and Best CEO Award for sales and distribution at
the 5th Convention for National Customer Satisfaction and Business
Innovation 1998 Mar.
POS-Thai Coil Center Co., Ltd. (Thailand) completed 2000 Oct.
Posteel Homepage rearranged 2001 Jul.
New Information System ("COSMOS") for e-Business launched 2002 Oct.
POS-Qingdao Coil Center Co., Ltd. (China) incorporated 2002 Dec.
POS-Metal Coil Center Co., Ltd. (Japan) acquired from POSCO
International Osaka Inc.(PIO) 2003 Jan.
POS-MI Coil Center Co., Ltd. started (equity participation) 2003 Jan.
Posteel New-Homepage in operation 2004 Jan.
ALADIN Service launched 2005 Feb.
6 Sigma Kick-off |
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Products, Technologies, Services
Description
|
Main Products & Services |
Hot Rolled Coil Cold Rolled Steel/BP Galvanized Steel Electrical Steel Electro G.I. Tin Plate Stainless Steel Wire Rod |
Trade
Partners
|
Suppliers |
POSCO |
|
Customers |
POSCO Union Steel POSCO Specialty Steel |
The major supplier is POSCO and sells mainly
to the affiliated companies.
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Overseas Office |
Hochiminh Office Address : Diamond Plaza Bldg., 7FL, RM 706,
34 Le Duan Blvd., Dist. 1, Hochiminh City, Vietnam Tel : 84-822-6862 Fax : 84-822-6864 Kuala Lumpur Office Address : CEO SUITE No.9 at Level 36,
Menara Maxis, Kuala Lumpur City Center 50088, Kuala Lumpur, Malaysia Tel : 60-3-2615-0040~1 Fax : 60-3-2615-0042 |
|
Subsidiary |
POSCAN VECTUS |
Domestic
Affiliates
POSCO Engineering & Construction Co.,
Ltd
Tel: 82-54-280-3114
Fax: 82-54-280-3651
568-1 Koedong-dong, Nam-gu, Pohang,
Kyongsangbuk-do 790-600 Korea
webmaster@sjpna.co.kr
POS-A. C. Co., Ltd
Tel: 82-2-3457-3700
Fax: 82-2-3457-3898
POSCO Center 892, Daechi 4 dong, Gangnam-gu,
Seoul 135-777 Korea
young@posac.co.kr
POSCO
Tel: 82-54-220-0114
Fax: 82-54-220-6000
1, Goedong-dong, Nam-gu, Pohang-si, GYEONGSANGBUK-DO
790-704 KOREA
igohome@posco.co.kr
POSDATA CO., Ltd
Tel: 82-31-779-2114
Fax: 82-31-779-2300
276-2 Seohyun-dong, Bundang-gu, Sungnam-si,
Kyunggi-do 463-775, Korea
posmaster@posdata.co.kr
POSCON Corporation
Tel: 82-54-280-1114
Fax: 82-54-278-5774
606 Ho-dong, Nam-gu, Pohang, Kyongsangbuk-do
790-719 Korea
webmaster@poscon.co.kr
POSCO Refractories & Environment Co.,
Ltd.
Tel: 82-54-290-0114
Fax: 82-54-292-3417
1-143 Chungrim-dong, Nam-gu, Pohang,
Kyongsangbuk-do 790-836 Korea
posrecweb@posrec.co.kr
POSCO Machinery Engineering Co., Ltd.
Tel: 82-54-279-7114
Fax: 82-54-279-7999
322-1 Changhung-dong, Nam-gu, Pohang,
Kyongsangbuk-do 790-714 Korea
webmaster@posmec.co.kr
POSCO Machinery Co., Ltd.
Tel: 82-61-798-3114
Fax: 82-61-792-1072
1656-4 Taein-dong, Gwangyang Chollanam-do
545-885 Korea
posmweb@posm.co.kr
POSCO Specialty Steel Co.,Ltd.
Tel: 82-55-269-6114
Fax: 82-55-269-6901
66 Sinchon-dong, Changwon Kyongsangnam-do
641-370 Korea
cyber@cssteel.co.kr
Pohang Coated Steel Co., Ltd.
Tel: 82-54-269-6114
Fax: 82-54-285-9009
470 changhung-dong, Nam-gu, Pohang,
Kyongsangbuk-do 790-240 Korea
master@pocos.co.kr
POSCO Research Institute
Tel: 82-2-3457-8000
Fax: 82-2-3457-8880
POSRI Building 147 Samsung-dong Gangnam-gu,
Seoul 135-090 Korea
webmaster@posri.re.kr
Postech Venture Capital Co., Ltd
Tel: 82-54-279-8486
Fax: 82-54-279-8489
San 31 Hyoja-dong, Nam-gu, Pohang,
Kyongsangbuk-do 790-784 Korea
pvcc@pvcc.co.kr
POSCO Terminal Co., Ltd.
Tel: 82-61-794-7411
Fax: 82-61-790-6386
Gwang Yang CTS Yaed, 861, Geumho-dong
GwangYang-City, Jeonnam, Korea
kim3204@poscoterminal.co.kr
POSCO Power Corporation
Tel: 82-2-2087-5309
Fax: 82-2-2087-5390
DACOM Bldg 10th Fl, 706-1, Yeoksam-dong
Gangnam-gu, Seoul, 135-987, Korea
webmaster@poscopower.co.kr
DONGWOOSA Co., Ltd.
Tel: 82-2-528-2960~5
Fax: 82-2-567-5461
Haesung 1 Bldg 8th Fl, Daechi 3 dong,
Gangnam-gu, Seoul 135-777 Korea
webmaster@dongwoosv.co.kr
SAMJUNG P&A Co., Ltd.
Tel: 82-54-280-8114
Fax: 82-54-280-8301
967 Koedong-dong, Nam-gu, Pohang,
Kyongsangbuk-do 790-300 Korea
webmaster@sjpna.co.kr
Overseas
Affiliates
POS-Tianjin
Date Established : Oct. 26, 1994
Business Activities : Processing & Sales of Cold Rolled Steel
products
Shareholder : POSTEEL (60%), POSCO(10%), SAMSUNG(8%), SSANGYONG(8%),
HYOSUNG(8%), SAEHAN(3%), DONGBANGROBOCOM(3%), KOREAN PARTNERS(6%)
Address : 168 Huanghai St., 5Th Avenue,
Tianjin, Economic - Technological Development Area(TEDA), Tianjin 300457, China
Tel :
86-22-2532-3016~20
Fax :
86-22-2532-3015/7923
POS-QingDao
Date Established : Oct. 10, 2002
Business Activities : STS, SI-STEEL, CRC & OTHERS
Shareholder : POSTEEL(69.08%), DAEJI STEEL(30.92%)
Address : HuaxianLu, Dansan Industrial Park,
ChengYangQu, Qingdao, Shandong, China
Tel :
86-532-608-9926
Fax :
86-532-608-9929
M.P :
86-133-3500-1885(Mr. I.M.KANG)
86-133-3500-1886(Mr. K.K.LEE)
86-133-3500-1887(Mr. S.H.LEE)
Zhangjiagang Xiao-Sha
Date Established : Mar. 26, 1996
Business Activities : Processing & Sales of Cold Rolled Steel
Products
Shareholder : POSTEEL (17.5%), HYOSUNG(39%), SAMSUNG(17.5%), SSANGYONG(8%),
KOLON(8%), JIANGSU SHAGANG(10%)
Address : North of Yanjiang Road Jinfeng Town,
Zhangjiangang City, Jiangsu Province 215625, China
Tel :
86-512-5856-5181
Fax :
86-512-5855-3911
Suzhou Dongshin
Date Established : Sep. 27, 1995
Business Activities : Manufacturing & Sales of Color Coated
Steel products
Shareholder : POSTEEL (30%), Dong Shin(50%), Chines Partner(20%)
Address : Wujiang Fenhu Economic &
Technological Development Zone, Jiangsu Province 215211, China
Tel :
86-512-6327-0041
Fax :
86-512-6327-0042
Dalian POSCO-CFM
Date Established : Nov. 17, 1995
Business Activities : Manufacturing & Sales of Galvanized
Steel Products and Color Coated Steel products
Shareholder : POSTEEL(15%), POSCO(40%), SUNKYUNG(15%), CNFMMC(30%)
Address : 1-4-5 Zhenpeng Industrial City
Dalian Economic & Technical Development Zone, China
Tel :
86-411-751-4685/4690
Fax :
86-411-751-4710
CSC Electronic(QingDao)
Date Established : Dec. 31, 2001
Business Activities : EI & MOTOR CORE
Shareholder : POSTEEL(10%), KOREA SHIROYAMA(65%), OTHERS(25%)
Address : HuaxianLu, Dansan Industrial Park,
ChengYangQu, Qingdao, Shandong, China
Tel :
86-532-608-9001
Fax :
86-532-608-9005
POS-Thai
Date Established : Jan. 21, 1997
Business Activities : Processing & Sales of Cold Rolled Steel
products
Shareholder : POSTEEL (52.2%) POSCO(11.7%), SAMSUNG(17.1%), DAEWOO(9.5%),
HYOSUNG(9.4%), Siam Steel Pipe Trading(0.1%)
Address : 700/453 Moo7, Bangpakong Industrial
Park 2, T.Donhuaroh A. Muang, Chonburi 20000, Thailand
Tel :
6638-45-4200~2
Fax :
6638-45-4207
POS-MI
Date Established : Apr. 3, 1996
Business Activities : Processing & Sales of Cold Rolled Steel
Products
Shareholder : POSTEEL (27.52%), POSCO (9.17%), MISI (55.04%), PT ARMADA (8.27%)
- Dec.20,2002 POSCO GROUP Shareholder
Address : KAWASAN INDUSTRY MM2100 JL.
SULAWESI Ⅰ BLOK H-4-1, CIBITUNG, BEKASI 17520, INDONESIA
Tel :
62-21-8998-2842
Fax :
62-21-898-0775
VPS
Date Established : Jan. 18, 1994
Business Activities : Production & sales of Deformed Bar, Bar,
Wire Rod
Shareholder : POSTEEL(5%), POSCO(35%), DAEWOO(10%), VSC(34%), HPC(16%)
Address : VSC-POSCO Steel Corp. Anhung
Village, Hongbang Dist., Haiphong, Vietnam
Tel :
84-31-850100
Fax :
84-31-748007
POSLILAMA
Date Established : May. 23, 1995
Business Activities : Manufacturing & sales of steel
structural products
Shareholder : POSTEEL(10%), POS E&C(60%), LILAMA(30%)
Address : Diamond Plaza(5F), 34 Le Duan ST.,
Dist. 1, Hochiminh, Vietnam
Tel :
84-61-84-8633
Fax :
84-61-84-8634
POSMETAL
Date Established : Jul. 11, 1994
Business Activities : Processing & Sales of Steel
products
Shareholder : POSTEEL(50%), Daewoo Japan(25%) Hyundai(20%), Fujiwara(5%)
Address : 8F Daiichi Seimiei Bldg., 1-4-1
Hakataekimae, Fukuoka 8120011, Japan
Tel :
81-92-412-0539
Fax :
81-92-452-2788
POS - HYUNDAI
Date Established : Oct. 18, 1997
Business Activities : Processing & Sales of Cold Rolled Steel
Products
Shareholder : POSTEEL (19.5%), POSCO(10%), HYUNDAI(70.5%)
Address : F-70, Sipcot Industrial Park, NH-4,
Bangalore Highway, Irungattukottai, Sripaumhudur, Kanchipurampt.602105,
Tamilnadu, India
Tel :
91-4111-256057/9
Fax :
91-4111-256458
AHSCO
Date Established : Jan. 10, 1992
Business Activities : Processing & Sales of Cold rolled steel
products
Shareholder : POSTEEL(10%), KIBAR(90%)
Address : Merkez Ofis E-5 Karayolu 32. Km
Tuzla / Istanbul, Turkey
Tel :
90-216-395-8464
Fax :
90-216-395-2970/7945
Court
Action
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
Seoul District Court |
Core Metal Industries |
The subject |
Claim for damages from the illegal
termination on the agreement |
USD 1,246,534.62 |
Pending 2nd Round |
|
|
Seoul District Court |
Deutsch Bloi Hous |
The subject |
Claim for damages in rent agreement |
700,000,000 |
- |
News
Clipping
Posteel Fined for Collusion
KOREA TIMES: 2001/09/10
The Fair Trade Commission (FTC) yesterday re-issued an order to Posteel,
the trading and sales arm of steel giant POSCO, to correct illegal steel price
collusion in 1998.
The re-issuance follows an appeal and another guilty verdict coming down
from the Supreme Court.
The regulatory body said that it imposed a 3.08 billion won fine for
past illegal collusion on the price of black plate, a type of steel, with
Dongbu Steel, Dongyang Tinplate and Shinhwa Silup between April and June in
1998.
The FTC originally accused Posteel of collusion in November 1998, but
Posteel brought litigation against the commission at that time, leading to the
most recent Supreme Court ruling.
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 |
|
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%)