MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION
DETAILS
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Name : |
SBC PETROCHEMICAL PTE LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
10.05.2001 |
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Com. Reg. No.: |
200103064K |
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Legal Form : |
Pte Ltd |
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Line of Business : |
The promotion, sales,
distribution, marketing, import and export of crude oil, natural gas steam,
high-temperature hot water, petroleum, petroleum products, petroleum
derivatives and its chemical raw products of every description and origin. |
RATING & COMMENTS
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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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name
SBC PETROCHEMICAL PTE LTD
Line Of Business
THE PROMOTION, SALES, DISTRIBUTION, MARKETING, IMPORT AND EXPORT OF
CRUDE OIL, NATURAL GAS STEAM, HIGH-TEMPERATURE HOT WATER, PETROLEUM, PETROLEUM
PRODUCTS, PETROLEUM DERIVATIVES AND ITS CHEMICAL RAW PRODUCTS OF EVERY
DESCRIPTION AND ORIGIN.
Parent Company
CONCORD
INTERNATIONAL OIL LTD
(PERCENTAGE
OF SHAREHOLDING: 60%)
Financial Elements
FY
2005
CONSOLIDATED
Sales : S$134,588,121
Networth : S$6,589,107
Paid-Up Capital :
S$250,000
Net result : S$3,054,808
Net Margin(%) :
2.27
Return on Equity(%) : 46.36
Leverage Ratio : 2.52
Rating
Credit Rating : Sing $ 5 000 00 1 to Sing $ 10 000
000
COMPANY IDENTIFICATION
Subject Company : SBC PETROCHEMICAL PTE LTD
Former Name : -
Business Address :
Town :
Postcode : 038989
County : -
Country :
Telephone : 6396 3862
Fax : 6398 0329
ROC Number :
200103064K
SUMMARY
All amounts in this report are in: SGD unless otherwise stated
Legal Form : Pte Ltd
Date Inc. : 10/05/2001
Previous Legal Form : -
Summary year : 31/12/2005
Sales : 134,588,121
Networth : 6,589,107
Capital : 500,000
Paid-Up Capital : 250,000
Employees : 13
Net result : 3,054,808
Share value : 1
AUDITOR : K B LEE & CO
REFERENCES
Litigation : No
Company status : TRADING
Started : 10/05/2001
PRINCIPAL(S)
LEUNG MAN HIM K5612136 Director
DIRECTOR(S)
LEUNG MAN HIM K5612136 Director
Appointed on : 10/05/2001
Street :
Town :
Postcode : 038989
Country :
LEUNG MAN HIM K5612136 Company Secretary
Appointed on : 01/01/2006
Street :
Town :
Postcode : 038989
Country :
CHAN LUK YAN VICKY HA9055643 Director
Appointed on : 01/06/2005
Street :
FLAT F, 8 FLOOR,
Town :
Postcode :
Country :
Appointed on : 01/07/2005
Street :
SUITE 1121B OCEAN CENTRE,
Town :
Postcode :
Country :
LEUNG KAI FAI S2670046I Director
Appointed on : 01/07/2003
Street :
Town :
Postcode : 038989
Country :
CHEUNG SUI LING S2670047G Director
Appointed on : 10/05/2001
Street :
Town :
Postcode : 038989
Country :
FORMER DIRECTOR(S)
WEE WOON HONG S1681953J
ACTIVITY(IES)
PETROL And OIL MARKETERS And DISTRS Code:16320
PETROLEUM PRODUCTS Code:16350
BASED ON ACRA'S
1) WHOLESALE OF PETROCHEMICAL PRODUCTS; HORSE BREEDING, HORSE RACING &
RELATED ACTIVITIES
CHARGES
Date : 19/09/2005
Comments : CHARGE NO : C200505623
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE :
THE HONGKONG AND
CORPORATION LTD
Date : 12/12/2006
Comments : CHARGEE NO. : C200608362, C200608364, C200608365
AMOUNT SECURED : 0.00 ALL MONIES OWING
CHARGEE[S] :
THE BANK OF TOKYO-MITSUBISHI UFJ,
BRANCH
Date : 12/12/2006
Comments : CHARGEE NO. : C200608367, C200608366
AMOUNT SECURED : 0.00 ALL MONIES OWING
CHARGEE[S] :
THE BANK OF TOKYO-MITSUBISHI UFJ,
BRANCH
Date : 19/09/2001
Comments : CHARGE NO : 200104552
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE(S) : THE HONGKONG AND SHANGHAI BANKING CORPN LTD
Date : 23/12/2004
Comments : CHARGE NO : C200406579
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE : THE BANK OF EAST ASIA LTD
Date : 24/11/2004
Comments : CHARGE NO : C200405892
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE :
THE HONGKONG AND
CORPORATION LTD
Date : 15/02/2005
Comments : CHARGEE NO. : C200500934
AMOUNT SECURED : 0.00 ALL MONIES OWING
CHARGEE[S] :
THE BEST OF
PREMISES/PROPERTY INFORMATIONS
No Premises/Property Information In Our Databases
BANKERS
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMITED
THE BANK OF EAST ASIA LIMITED
SHAREHOLDERS(S)
CONCORD INTERNATIONAL OIL LTD 150,000 Company
Street : THE
Town :
Postcode : BVI
Country :
LEUNG MAN HIM 75,000 Private Person
Street :
Town :
Postcode : 038989
Country :
CHEUNG SUI LING 25,000 Private Person
Street :
Town :
Postcode : 038989
Country :
HOLDING COMPANY
SUBSIDIARY(IES)
SBC ASIA PACIFIC PTY LTD
SBC (
PAYMENT HISTORY AND EXPERIENCES
Trade Morality : AVERAGE
Liquidity : SUFFICIANT
Payments : REGULAR
Trend : UPWARD
Financial Situation : AVERAGE
LITIGATION(S)
No Litigation In Our Database
FINANCIAL ELEMENTS
All amounts in this report are in : SGD
Audit
Qualification: UNQUALIFIED (CLEAN) UNQUALIFIED (CLEAN) UNQUALIFIED (CLEAN)
Date
Account Lodged: 31/10/2006
Balance
Sheet Date: 31/12/2005 31/12/2004 31/12/2003
Number
of weeks: 52 52 52
Consolidation
Code: CONSOLIDATED CONSOLIDATED CONSOLIDATED
ASSETS
Tangible
Fixed Assets: 3,371,062 158,121 159,624
Investments 46,830 - -
Total
Fixed Assets: 3,417,892 158,121 159,624
Inventories: 8,555,557 6,035,312 5,108,703
Receivables: 7,415,428 16,006,672 1,913,214
Cash,Banks,
Securitis: 2,461,572 2,679,506
1,621,632
Other
current assets: 1,354,562 529,380 177,746
Total
Current Assets: 19,787,119 25,250,870 8,821,295
TOTAL ASSETS: 23,205,011
25,408,991 8,980,919
LIABILITIES
Equity
capital: 250,000 250,000 250,000
Reserves: 39,499 9,892 -4,756
Profit
& lost Account:
6,197,698
3,330,873
1,806,641
Other: 101,910 69,253 17,001
TOTAL EQUITY: 6,589,107 3,660,018
2,068,886
Long
Term Loans: 2,176,906 - -
Total
L/T Liabilities: 2,176,906 - -
Trade
Creditors: 8,461,344 18,424,796
5,149,288
Prepay.
& Def. charges:
267,819 89,289 62,879
Advanced
payments: 361,308 257,368 159,761
Due
to Bank:
4,269,352 2,479,952 1,299,173
Provisions: 991,192 494,413 240,613
Other
Short term Liab.: 87,983 3,155 319
Total
short term Liab.: 14,438,998 21,748,973 6,912,033
TOTAL LIABILITIES: 16,615,904 21,748,973 6,912,033
PROFIT & LOSS ACCOUNT
Net
Sales 134,588,121 73,493,386 20,298,153
Gross
Profit: - - 2,521,345
Result
of ordinary operations - - 926,270
NET
RESULT BEFORE TAX: 3,999,828 2,200,705 883,625
Tax
: 945,020 465,900 216,164
Net
income/loss year: 3,054,808 1,734,805 664,208
Interest
Paid: 238,265 77,046 42,645
Depreciation: 95,260 26,571 22,831
Dividends: 160,000 160,000 296,400
Directors
Emoluments: 571,700 84,000 84,000
Wages
and Salaries: 906,261 190,934 129,105
Financial
Income: 30,660 8,276 3,512
RATIOS
31/12/2005 31/12/2004 31/12/2003
Turnover
per employee: 10352932.38 5653337.38 1561396.38
Net
result / Turnover(%): 0.02 0.02 0.03
Stock
/ Turnover(%): 0.06 0.08 0.25
Net
Margin(%): 2.27 2.36 3.27
Return
on Equity(%): 46.36 47.40 32.10
Return
on Assets(%): 13.16 6.83 7.40
Dividends
Coverage: 19.09
10.84 2.24
Net
Working capital: 5348121.00 3501897.00 1909262.00
Cash
Ratio: 0.17 0.12 0.23
Quick
Ratio: 0.68 0.86
0.51
Current
ratio: 1.37 1.16 1.28
Receivables
Turnover: 19.83 78.41 33.93
Leverage
Ratio: 2.52 5.94 3.34
Net Margin :
(100*Net income loss year)/Net sales
Return on Equity : (100*Net income loss
year)/Total equity
Return on Assets : (100*Net income loss
year)/Total fixed assets
Dividends Coverage : Net income loss year/Dividends
Net Working capital : Total current assets - Total
short term liabilities
Cash Ratio :
Cash Bank securities/Total short term liabilities
Quick Ratio :
(Cash Bank securities+Receivables)/Total Short term liabilities
Current ratio : Total current assets/Total
short term liabilities
Inventory Turnover : (360*Inventories)/Net
sales
Receivables Turnover : (Receivable*360)/Net sales
Leverage Ratio :
Total liabilities/(Total equity-Intangible assets)
FINANCIAL COMMENTS
THE FINANCIAL CONDITION OF THE GROUP WAS
SEEN TO BE FAIR IN VIEW OF
THE FOLLOWING:
NET WORTH:
THE BALANCE SHEET WAS CONSIDERED PASSABLE
WITH NET WORTH IMPROVED BY
80.03% FROM S$3,660,018 IN FY 2004 TO S$6,589,107 IN FY 2005. THIS WAS
DUE TO HIGHER ACCUMULATED PROFIT OF S$6,197,698 (2004: S$3,330,873); A
RISE OF 86.07% FROM THE PRIOR FINANCIAL YEAR.
LEVERAGE:
IN THE SHORT-TERM, SUBJECT WAS LARGELY
FINANCED BY TRADE CREDITORS
WHICH MADE UP 58.60% (2004: 84.72%) OF THE TOTAL CURRENT LIABILITIES
AND AMOUNTED TO S$8,461,344 (2004: S$18,424,796). THE BREAKDOWN IS AS
FOLLOWS:
-TRADE CREDITORS - 2005: S$5,564,554 (2004:
S$15,679,690)
-RELATED PARITES - 2005: S$2,896,790 (2004:
S$ 2,745,106)
IN THE LONG-TERM, SUBJECT WAS WHOLLY
FINANCED BY LONG TERM LOANS AND AMOUNTED TO S$2,176,906 (2004: -). THE BREAKDOWN IS AS FOLLOWS:
-TERM LOAN - SECURED - 2005: S$2,176,906
(2004: -)
AMOUNT DUE TO BANKS OF S$4,269,352 (2004:
S$2,479,952) CONSISTED OF:
-TERM LOAN - SECURED - 2005: S$165,324
(2004: -)
-BILLS PAYABLE -SECURED - 2005: S$4,104,028 (2004: S$2,479,952)
IN ALL, LEVERAGE RATIO FELL FROM 5.94 TIMES
TO 2.52 TIMES AS A RESULT
OF A DECLINE IN TOTAL LIABILITIES AND A RISE IN TOTAL EQUITY.
LIQUIDITY:
IN GENERAL, SUBJECT'S LIQUIDITY SITUATION
WAS PASSABLE AS SEEN FROM
THE CHANGES IN NET WORKING CAPITAL AND LIQUIDITY RATIOS. CURRENT RATIO
ROSE TO 1.37 TIMES, UP FROM 1.16 TIMES AND QUICK RATIO FELL TO 0.68 TIMES
FROM 0.86 TIMES IN FY 2004.
NET WORKING CAPITAL IMPROVED BY 52.72% FROM
S$3,501,897 IN FY 2004 TO
S$5,348,121.
CASH AND CASH EQUIVALENTS COMPRISE OF:
-CASH AND BANK BALANCES - 2005: S$2,030,451
(2004: S$2,349,490)
-FIXED DEPOSITS WITH BANKS - 2005: S$431,121
(2004: S$330,016)
PROFITABILITY:
REVENUE POSTED AN INCREASE OF 83.13% FROM
S$73,493,386 IN FY 2004 TO S $134,588,121 AND NET PROFIT ROSE BY 76.09% TO S$3,054,808 (2004: S
$1,734,805). HENCE, NET MARGIN FELL TO 2.27% (2004: 2.36%).
DEBT SERVICING:
DEBT SERVICING PROBLEMS MIGHT NOT BE
EXPECTED IF REVENUE AND EARNINGS CAN BE MAINTAINED AND PAYMENT BY TRADE DEBTORS ARE FORTHCOMING. IN
ADDITION, ITS INTEREST COVERAGE WAS HEALTHY CONSIDERING THAT ITS INTEREST
EXPENSES WERE LOW AT S$238,265 IN FY 2005 (2004: S$77,046).
NOTES TO THE FINANCIAL
STATEMENTS:
TERM LOAN AND BANKING
FACILITIES:
THE TERM LOAN AND BANKING FACILITIES ARE
SECURED BY:
(I) LEGAL MORTGAGE ON THE DOCUMENTS OF THE
TITLE OF THE PROPERTY WITH A CARRYING VALUE OF S$3,133,952 (2004: NIL)
(II) THE CERTIFICATE OF THE FIXED DEPOSITS
OF S$345,810 (2004: S$329,682)
(III) LEGAL ASSIGNMENT OVER THE COMPANY'S
ACCOUNTS RECEIVABLES; AND
(IV) MEGATIVE PLEDGE OVER THE ASSETS OF THE
COMPANY
THE INTEREST RATE OF THE TERM LOAN AT THE
BALANCE SHEET DATE IS 5.1585% P.A.
CONTINGENT LIABILITIES
(UNSECURED)
AT THE BALANCE SHEET DATE, THERE WERE
CONTINGENT LIABILITIES IN
RESPECT OF THE FOLLOWINGS: BILLS DISCOUNTED - 2005: S$356,175
(2004: 3,931,539)
BACKGROUND/OPERATION
THE COMPANY WAS INCORPORATED IN THE
AS AT 13/02/2007, THE COMPANY HAS ISSUED AND
PAID-UP CAPITAL OF 250,000
SHARES OF A VALUE OF S$250,000.
PRINCIPAL ACTIVITIES:
SUBJECT IS REGISTERED WITH THE ACCOUNTING
& CORPORATE REGULATORY
AUTHORITY (ACRA) TO BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1) WHOLESALE OF PETROCHEMICAL PRODUCTS;
HORSE BREEDING, HORSE RACING & RELATED
ACTIVITIES
2) WHOLESALE OF PETROCHEMICAL PRODUCTS
DURING THE FINANCIAL YEAR UNDER REVIEW, THE
PRINCIPAL ACTIVITIES OF THE
COMPANY CONSIST OF THE PROMOTION, SALES, DISTRIBUTION, MARKETING, IMPORT
AND EXPORT OF CRUDE OIL, NATURAL GAS STEAM, HIGH-TEMPERATURE HOT
WATER, PETROLEUM, PETROLEUM PRODUCTS, PETROLEUM DERIVATIVES AND ITS
CHEMICAL RAW PRODUCTS OF EVERY DESCRIPTION AND ORIGIN.
THE SUBJECT IS NOT LISTED IN THE DIRECTORIES
AND INTERNET. AS SUCH, NO
OTHER INFORMATION IS AVAILABLE.
NO OTHER TRADE INFORMATION IS AVAILABLE AS
TELE-INTERVIEW WAS NOT GRANTED
BY SUBJECT'S PERSONNEL ON 15/02/2007.
THE HOLDING AND ULTIMATE HOLDING COMPANY IS
CONCORD INTERNATIONAL OIL
LIMITED, INCORPORATED IN
NUMBER OF EMPLOYEES (31 DECEMBER):
* COMPANY - 2005: NOT AVAILABLE (2004: 13;
2003: 11; 2002: 3)
* GROUP
- 2005: - (2004: - )
REGISTERED AND BUSINESS ADDRESS:
#31-02
- RENTED PREMISE
- OWNED BY CARDIFF INVESTMENTS PTE LTD
- DATE OF CHANGE OF ADDRESS: 01/03/2002
WEBSITE:
-
EMAIL:
-
MANAGEMENT
THE DIRECTORS AT THE TIME OF THE REPORT ARE:
1) CHAN LUK YAN VICKY, A CHINESE
- BASED IN
2)
- BASED IN
3) LEUNG MAN HIM, A BRITISH
- BASED IN
4) LEUNG KAI FAI, A
- HOLDS NO OTHER DIRECTORSHIP IN OUR
DATABASE.
5) CHEUNG SUI LING, A
- HOLDS NO
OTHER DIRECTORSHIP IN OUR DATABASE.
Singapore
Investment Grade
IN
ECONOMIC GROWTH IS BECOMING MORE MODERATE
AS INVESTMENT HAS BEEN FLAT DUE TO INCREASING OIL PRICES AND LESS BUOYANT
DEMAND FOR ELECTRONIC PRODUCTS.
ECONOMIC PERFORMANCE HAS REMAINED STRONG, UNDERPINNED BY
PHARMACEUTICALS AND SERVICES. EXPORTS HAS BENEFITED FROM THE STEADINESS OF
DEMAND FROM ITS MAIN TRADING PARTNERS,
AS THE ELECTRONICS SECTOR FACES COMPETITION FROM THE ASIAN ECONOMIES,
ASSETS
- ONE OF THE
MOST OPEN ECONOMIES IN THE WORLD WITH EXPORTS PLAYING A MAJOR ROLE IN ITS
PERFORMANCE.
- ONE OF
- WORKFORCE’S
EDUCATION AND SKILL LEVEL IS VERY HIGH.
- A MAJOR
EXPORT OF CAPITAL IN
- THE BUSINESS
ENVIRONMENT HAS BEEN VERY FAVOURABLE.
- GREAT
POLITICAL STABILITY.
WEAKNESSES
- ECONOMY
REMAINED OVERSPECIALISED IN THE ELECTRONICS SECTOR.
- MUST
ACCELERATE DIVERSIFICATION IN SERVICES TO MAINTAIN ITS LEAD OVER OTHER ASIAN
ECONOMIES
- REFORMS ARE
STILL NEEDED TO FOSTER INNOVATION AND EDUCATION-SYSTEM MODERNIZATION.
- AGING
POPULATION COULD ULTIMATELY AFFECT ECONOMIC PERFORMANCE.
WHOLESALE AND RETAIL
TRADE SECTOR
PAST PERFORMANCE
WITH THE GROWTH IN NON-OIL RE-EXPORTS AND THE RISE IN
RETAIL SALES, THE WHOLESALE AND RETAIL TRADE SECTOR GREW BY A ROBUST 15% IN
1Q2006, UP FROM THE 12% GAIN IN 4Q2005.
WHOLESALE TRADE
DOMESTIC WHOLESALE TRADE INDEX
FOLLOWING SEVEN QUARTERS OF DOUBLE-DIGIT GROWTH, THE
OVERALL DOMESTIC WHOLESALE TRADE INDEX MODERATED TO 7.5% IN 1Q2006. EXCLUDING
PETROLEUM, THE INDEX ROSE BY 14.2% OVER THE SAME PERIOD LAST YEAR.
ON THE OTHER HAND, DOMESTIC WHOLESALE OF PETROLEUM
& PETROLEUM PRODUCTS FELL BY 2.1% IN 1Q2006, THE FIRST DECLINE SINCE
1Q2004. DOMESTIC SALES OF FOOD, BEVERAGES & TOBACCO, PAINTS &
CONSTRUCTION MATERIALS, TIMBER ALSO FELL COMPARED TO 1Q2005.
AT CONSTANT PRICES, THE OVERALL INDEX DECLINED BY 4.4%
IN 1Q2006 OVER 1Q2005,
MAINLY DUE TO LOWER ACTIVITY IN CHEMICAL AND PETROLEUM
SECTORS. EXCLUDING PETROLEUM, IT WAS 7.9% HIGHER THAN A YEAR AGO.
ON A QUARTER-ON-QUARTER BASIS, THE OVERALL INDEX
POSTED A DECLINE OF 16.5% COMPARED TO 4Q2005. EXCLUDING PETROLEUM, THE INDEX
WERE LOWER BY 8.9%.
FOREIGN WHOLESALE TRADE INDEX
AS COMPARED TO 1Q2005, THE OVERALL FOREIGN WHOLESALE
TRADE IN 1Q2006 ROSE BY 15.4%. EXCLUDING PETROLUEM, THE INDEX EXPANDED BY
11.5%.
SHIP CHANDLERS & BUNKERING MAINTAINED THEIR GROWTH
MOMENTUM OF 63.5% IN THE FIRST QUARTER OF 2006, IN COMPARISON TO THE HIGHER
81.7% GROWTH IN 4Q2005. ON A YEAR-ON-YEAR BASIS, ELECTRONIC COMPONENTS GREW BY
22.8%, PETROLEUM & PETROLEUM PRODUCTS ROSE BY 20.3%, AND GENERAL WHOLESALE
TRADE GREW BY 18.7% IN 1Q2006.
AT CONSTANT PRICES, THE OVERALL INDEX ROSE MARGINALLY
BY 0.9% IN 1Q2006 OVER A YEAR AGO. EXCLUDING PETROLEUM, IT WAS UP BY 7.6%.
ON A QUARTER-ON-QUARTER BASIS, THE OVERALL INDEX POSTED
A DECLINE OF 9.4% FOLLOWING GROWTH FOR THREE CONSECUTIVE QUARTERS. EXCLUDING
PETROLEUM, THE INDEX WERE LOWER BY 8.6%.
AHEAD
WHOLESALERS PREDICTS POSITIVE BUSINESS CONDITIONS FOR
THE PERIOD ENDING DECEMBER 2006. THOSE DEALING IN FURNITURE & FURNISHINGS,
COSMETICS & TOILETRIES, JEWELLERY & WATCHES, HOUSEHOLD ELECTRICAL
APPLIANCES & EQUIPMENT, ELECTRONIC COMPONENTS, SCIENITIFIC & PRECISION
EQUIPMENT, ARE AMONG THOSE WHO ARE OPTIMISTIC ABOUT THE BUSINESS OUTLOOK AHEAD.
EXTRACTED FROM : MINISTRY OF TRADE AND
SINGAPORE DEPARTMENT OF STATISTICS
TODAY
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%)