MIRA
INFORM REPORT
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Report Date : |
29.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
EVERFOCUS ELECTRONICS CORP |
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Formerly Known As : |
FADEIN ELECTRONICS CORP |
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Registered Office : |
12FL Far East World Centre Bldg C 79 Hsin
Tai 5th Rd Section 1 Hsihchih City Taipei Hsien 221 |
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Country : |
Taiwan |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
18.07. 1995 |
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Com. Reg. No.: |
89639615 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Research and Development of Technologies related to CCD Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 2,000,000 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
EVERFOCUS
ELECTRONICS CORP
12FL FAR EAST WORLD CENTRE BLDG C 79 HSIN
TAI 5TH RD
SECTION 1 HSIHCHIH CITY TAIPEI HSIEN 221,
TAIWAN
TEL: 886-2-26982334 FAX: 886-2-26982380
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 18, 1995
REGISTRATION NO. :
89639615
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. CHUNG-LIANG LEE (CHAIRMAN)
STAFF STRENGTH :
304
CAPITAL :
US$ 68,656,716
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 1,792,179,000 (AS OF 2006)
EQUITIES :
NTD 1,479,538,000 (AS OF 2006)
PAYMENT :
ABOVE AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 2,000,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY GOOD
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
FAIRLY GOOD
EXCHANGE RATE :
TWD 30.32511 = 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
*Company Name*
==============
Previous name : FADEIN ELECTRONICS CORP
Date of incorporation :
18 July, 1995
Changed name to : EVERFOCUS ELECTRONICS CORP
Year of change : 2001
*Capital Details*
============
Authorized capital : NTD 2,070,000,000.00
Initial paid up capital : NTD 7,000,000.00
Paid-up capital increases as follows:
Year Increase (NTD)
-------
-------------------------
1996
12,000,000.00
1997
98,000,000.00
1998
109,183,530.00
1999
180,000,000.00
2000 241,115,000.00
2001
358,583,750.00
2002
497,750,000.00
2003
644,020,000.00
2004
772,600,000.00
2005
948,880,000.00
2006 1,035,507,000.00
-
1,071,221,000.00
*Licenses & Permits*
================
License number : 9969594400
Date issued : 20 September, 2006
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
*Office & Facilities*
================
Size : 769sq.meter. (Approx)
Location : Outer suburb of Taipei city
Property status : Owned by EVERFOCUS ELECTRONICS CORP
Type of building : Industrial Building
Other e-mail address: - meichuan@everfocus.com.tw
- ts@everfocus.com.tw
Previous address : 10Fl-6,
79, Hsin Tai Wu Rd Section 1 Hsihchih Chen
*Factories, Size & Locations*
======================
Size : 3,169
square meter (Approx)
Location : Taipei
Hsien
Type of building: Industrial Building
Property status : Owned by
EVERFOCUS ELECTRONICS CORP
*Corporate & Organization Structure*
===========================
A large-sized company operated and managed by an experienced team of
professionals.
Maintains 20 R&D staff.
*Awards*
========
Received the following awards:
(1)
Award : 4th MIT (Made
in Taiwan) Excellence Award
Date : 2 March,
2002
Details : Received the
award for PowerPlex eDR400 (4 channel digital video recorder) product.
(2)
Award : Secutech
Innovation Award 2002
Date : 13 March,
2002
Details : Received the
award for security products.
*Industry Ranking*
==============
Generally regarded as one of the Top 5000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------- ---------
2004 1509
2005 1557
2006 1520
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Accountants*
===========
DELOITTE & TOUCHE
*Registrar*
=========
TAIWAN INT'L SECURITIES CORP
Stock Market Code: 5484
Web
site: www.everfocus.com.tw
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: marketing@everfocus.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: N/A
Total number of shares: N/A
Shareholders Country Number Amount %
----------------- ----------- ---------- ---------- ----
Mr. Ming-tsan Pan Taiwan n/a n/a n/a
Mr. Pei-chih Wang Taiwan n/a n/a n/a
Mr. Shan-jung Huang Taiwan n/a n/a n/a
Mr. Chia-ming Huang Taiwan
5,691,653.00 n/a n/a
Mr. Chung-liang Lee Taiwan 5,203,696.00 n/a n/a
Mr. Tsung-ting Lee Taiwan 2,970,212.00 n/a n/a
Mr. Yung-shun Chuang Taiwan
277,709.00 n/a n/a
Mr. Chen-neng Lin Taiwan 142,421.00 n/a n/a
Management: Ms. Yu-ju Liao,
Director
Ms. Hui-ching Yu, Manager
Ms. Agnes Liao, Manager
Name Nationality
Job Description Dept. / Division
Ms. Yu-ju Liao Taiwanese
Director Finance
Ms. Hui-ching Yu Taiwanese
Manager Finance
Ms. Agnes Liao Taiwanese
Manager Service
Mr. Mao-chang Huang Taiwanese Assist. Manager -
Mr. Chia-ming Huang Taiwanese General Manager -
Mr. Jemmy Hung Taiwanese General Manager -
Mr. Chen-cheng Tseng Taiwanese Vice General Manager -
Mr. Heng-teh Chou Taiwanese
Vice General Manager -
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Research and Development of technologies related to CCD products.
2. Manufacturing of various types of camera, DVR, CCD, and relate
accessories.
3. Engaged in OEM activities.
4. Selling of products to both domestic and international markets.
Products also include the following:
- Color High Resolution Weather Proof Camera
- 8 channel Color Multiplexer
- AW08 (High gain WLAN antenna)
Products: Access control
Access control
equipment
Access control
systems
B/W CCTV
surveillance systems
CCD B/W camera
*Brand*
======
EVERPLEX
EverFocus
PowerPlex
WDii Wide-Dynamic
eFocus
*Payment Terms*
=============
Sales
-------
Local : 30-90 days credit
Cash
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
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)
*Detailed Product Specifications*
========================
Product Description
----------
-----------------
1. LCD Monitor 5.6" Color TFT
(EN200) High resolution
with 16 million true colors
Color, contrast
and brightness adjustments
Built-in audio
and speaker Switchable screen
display, R-L with
wide view angle
2. Duplex Multiplexer
a. EverPlex 4CDX 4-channel color
Full capability
multiplexer with simultaneously multiple monitoring, spot monitoring, live quad
monitoring and single sequence monitoring
VCR playback
zoom and pan function to view distinct details of any capture events.
Selectable time-lapse recording mode
b. EverPlex 4BDX 4-channel B/W
Full capability
duplex multiplexer allows to record and palyback the video inputs
simultaneously via 2 VCRs
3. CCD Camera
a. EM240 1/4" color DSP
CCD metal case picks up device
Minimum
illumination: 2.0 lux/F=2.0
Horizontal
resolution of 340 TV lines
Available with board lens or manual IRIS
lens
b.
EQ100/180 1/3 B/W Smart
CCD pick-up device for both mid/high resolutions: 420/560 horizontal TV lines
Adjustable brightness level for direct drive
IRIS lens
High sensitivity:
0.4 lux/F=1.2
ES, ACG and auto
line lock on/off switch
4. DSP
Camera 1/3" color smart CCD pick-up device for both
mid/high resolutions: 80/480 horizontal (EQ200/300) TV lines
Wide range of
automatic electronic shutters: Up to 1/100,000
Auto line lock on /off
switch and external V phase adjustment.
*Quality Certification*
=================
Obtained the following certifications:
(1)
Type of certification: ISO 9002
Issuing authority : DNV
(2)
Type of certification: ISO 2000
(3)
Type of certification: ISO 9001
Also obtained approvals from the following certification bodies:
- CE
- FC
*Exhibition Participation*
===================
Participated in the following local exhibitions:
(1)
Exhibition fair : Taipei International
Electronics Show
Dates attended : 16-20 October,
1999
Location : Taipei
World Trade Center Exhibition Hall
(2)
Exhibition fair : Taipei
International Electronics Show 2000
Dates attended : 17-20 October, 2000
Location : Taipei World Trade Center - Exhibition
Hall
(3)
Exhibition fair : SecuTech
2001
Dates attended : 5-7 May, 2001
Location : Taipei
World Trade Center - Exhibition Hall
(4)
Exhibition fair : SecuTech Expo
2002
Date attended : 13-15 March,
2002
Location : Taipei World
Trade Center - Exhibition Hall
Details :
International Exposition on Total Security Solutions - Security, Fire, Safety
and Info Security
(5)
Exhibition fair : TAITRONICS - Finished Products Show
Date attended : 16-20 October, 2002
Location : Taipei World
Trade Center - Exhibition Hall
(6)
Exhibition fair : 2003 Taipei
International Computer Show (Computex 2003)
Dates attended : 2-6 June, 2003
Location : Taipei
World Trade Center - Exhibition Hall
(7)
Exhibition fair : TAITRONICS - Finished Products (Taipei International
Electronics Show)
Date attended : 16-20 October, 2003
Location : Taipei World
Trade Center - Exhibition Hall
(8)
Exhibition fair : TAITRONICS AUTUMN
- Taipei Int'l Electronics Autumn Show
Date attended : 11-15 October,
2005
Location : Taipei World
Trade Center (TWTC)
(9)
Exhibition/Fair : TAITRONICS
AUTUMN - Taipei Int'l Electronics Autumn Show
Date attended : 9-13 October,
2006
Location : Taipei
World Trade Center (TWTC)
(10)
Exhibition fair : SecuTech
Expo 2007 Taiwan
Dates attended : 16-18 April, 2008
Location : Taiwan
*Associations*
===========
Member of:
- Taiwan Electrical & Electronic Manufacturer's Association (TEEMA)
*Competitors*
===========
The following locally based companies supply similar range of products :
- ALLVIEW TECHNOLOGY CO LTD
- LEEGOOD AUTOMATIC SYSTEMS INC
- PROVIDEO MULTIMEDIA CO LTD
- SECURITY GROUP TECHNOLOGY INC
- TOPICA TECHNOLOGY CO LTD
*Local Distribution Network*
=======================
11% of the annual turnover is attributed to local sales.
*International Trade Activity*
=======================
Note: At the time of preparing this report, the Ministry of Economic Affairs
had not yet released trade figures for 2007.
*Export Markets*
=============
89% of the annual turnover is attributed to export worldwide.
Products are exported to the following regions:
Region % of
Exports
----------- -----------------
USA 50
Europe 25
Asia 10
Other 4
*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 1372
2002 0975
2003 0966
2004 0845
2005 0756
2006 0738
*International Exhibition Participation*
============================
Participated in the following exhibition:
Date
Exhibition City / Country
------
-------------- -------------------
5-8 February, 2008 Security
and Safety Technologies Russia
4-7 March, 2008 Security Show Japan
2-4 April, 2008 ISC
WEST Las Vegas, USA
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name: EVERFOCUS ELECTRONICS (BEIJING) CO LTD
Address: Rm 609 Technology Trade Bldg Shangdi Haidian Dist Beijing China
Country: China
Relationship: Subsidiary
Legal Form: Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : EVERFOCUS ELECTRONICS CORP
Address : Rm18 11Fl Pacific Trade Centre 2 Kai Hing Rd Kowloon Bay
Kowloon Hong Kong
Country : Hong Kong
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : EVERFOCUS ELECTRONICS CORP
Address : Suite 101 2975 Huntington Drive San Marino 91108 California
USA
Country : USA
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : EVERFOCUS ELECTRONICS CORP
Address : Fasanenweg 3 Emmerich 46446 Germany
Country : Germany
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : EVERFOCUS ELECTRONICS CORP
Address : 2-6 Nakase Mihama-ku Chiba-shi 2617118 Chiba Japan
Country : Japan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : EVERFOCUS INT'L CORP
Address : Trust Net Chambers Road Town Tortola Virgin Islands (British)
Country : Virgin Islands (British)
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : HIDALL TECHNOLOGY CORP
Address : 12Fl Far East World Centre Bldg C 79 Hsin Tai 5th Rd Section 1
Hsihchih City 221 Taipei Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : THI-EVERFOCUS HOLDING LTD
Address : Trustnet Chanbers Apia Samoa
Country : Samoa
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
PAYMENT RATING : 2 OBTAINED SCORES :
77
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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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
==============
Bank Name : CHINATRUST
COMMERCIAL BANK LTD
Branch : Hsin-i Dist,
Taipei City
Branch Address : 14Fl China Trust Bldg 3 Sung Shou Rd
SWIFT Code : CTCBTWTP
Balance Sheet
Currency : NTD
Denomination : In thousands
2002 2003 2004 2005
2006
--------- --------- --------- --------- ---------
Current Assets 750,758 835,269 1,184,635
1,280,902 1,337,764
Funds & long-term investments 235,201 296,064
380,207 358,060 395,104
Property
90,801 105,579 177,131 211,555 353,428
Other Assets 45,843 31,968 95,360
90,230 57,449
Current Liabilities (Before) 205,397 161,741
400,449 360,647 575,699
(After)
229,533 192,276 542,298 541,939
698,357
Long-term Liabilities
Other Liabilities 64,142 71,376 92,227
95,667 88,508
Common stock 644,020 772,600 948,880 1,035,507 1,071,221
Capital Reserve 109,035 109,035 109,035
109,325 109,325
Retained Earnings (Before) 195,682 249,919
439,342 411,711 313,372
(After)
55,141 90,804 121,213 143,792
155,000
Total Assets
1,122,603 1,268,880 1,837,333
1,940,747 2,143,745
Total Liabilities (Before) 269,539 233,117
492,676 456,314 664,207
(After) 393,675 263,652 634,525
637,606 786,865
Total Shareholder's Equity (Before) 853,064
1,035,763
1,344,657 1,484,433 1,479,538
(After) 828,928 1005,228
1,202,808 1,303,141 1,356,880
Income Statement
Currency : NTD
Denomination : In thousands
2002 2003 2004
2005 2006
---------
--------- --------- ---------
---------
Operating revenue 980,073 1,104,489 1,695,422
1,699,609 1,792,179
Gross Profit 312,049 346,693 497,610
511,968 447,316
Operating Income 199,063 217,149 337,358
316,752 233,063
Non-operating income 11,884
21,050 50,011 27,472 11,076
Non-operating expense 26,965 12,175
16,832 33,125 60,483
Net Income 155,482.00 205,224.00 348,537.00
290,499.00 169,581.00
Earnings (losses) per share (After) 1.5 1.98 3.37
2.81 1.64
*Financial Ratios*
==============
2002 2003 2004 2005
2006
--------- --------- --------- --------- ---------
Ratio of liabilities to Assets % 24.01 18.37
26.81 23.51 30.98
Ratio of long-term capital to fixed Assets% 939.49
981.03 759.13 701.68 418.63
Current ratio% 365.52 516.42 295.83 355.17 232.37
Quick ratio% 304.23 373.69 202.25
233.27 129.91
Interest coverage 450.83 1,700.43
272.06 127.16 69.84
Turnover of receivable (times) 5 4 5 4 4
Average collection period of receivable 80
101.00 75.00 86.00 94.00
Turnover of inventories (times) 6.08 4.37 3.99 2.97
2.71
Average days of sales 60 84.00 91.00
123.00 135.00
Turnover of fixed assets (times) 10.79 10.46
9.57 8.03 5.07
Turnover of total assets (times) 0.87 0.87 0.92 0.88 0.84
Return on total assets% 13.85
16.17 18.97 14.97 7.91
Return on shareholder's Equity% 18.23 19.81
25.92 19.57 11.46
Operating Income 39.99 33.72 43.67 33.38
22.51
Net Income before tax 36.96 35.10 47.96 32.79 17.74
Profit margin% 15.86 18.58 20.56 17.09 9.46
Retroactive
1.50 1.98 3.37 2.81 1.64
Cash flows ratio% 17.40 49.65 6.93 144.73
34.83
Cash flows adequacy% 59.39 50.86 32.85 78.08
67.48
Cash reinvestment ratio% 3.08 5.38 0.14 25.25
3.07
Degree of operating leverage 1.47 1.43 1.78 1.44 1.79
Degree of financial leverage 1 1 1 1.01 1.01
*Financial Summary (Currency: U.S. $'s)
=============================
Year Sales Assets Net Income
2001 $19,210,679.05 n/a $3,743,470.69
2002 $28,171,112.39 $32,267,979.30 $4,469,157.80
2003 $31,848,010.38 $36,588,235.29 $5,917,647.06
2004 $50,990,135.34 $55,258,135.34 $10,482,315.79
2005 $53,700,126.38 $61,319,020.54 $9,178,483.41
2006 $54,177,116.08 $64,804,866.99 $5,126,390.57
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
1996 $0.00 $900,000.00 $900,000.00
1997 $600,000.00 $3,000,000.00 $3,600,000.00
1998 $600,000.00 $7,900,000.00 $8,500,000.00
2004 $2,210,636.99 $41,388,936.00 $43,599,572.99
2005 $4,049,051.00 $48,211,840.00 $52,260,891.00
2006 $5,764,449.00 $51,514,448.00 $57,278,897.00
SC is considered large-sized with fairly good financial conditions.
Taking into consideration of SC’s general performance, a credit line up to USD
2,000,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 3679 Electronic
components,
Manufacturing 3577 Computer
peripheral equipment, and parts,
Manufacturing 3600 Electronic
& Electric Equip.
Manufacturing 3651 Radio
& tv receiving sets; phonographs; recorders; microphones; loudspeakers;
audio amplifiers; & oth audio equip
Manufacturing 3861 Photographic
equipment and supplies
Manufacturing 5045 Computers
Equip/Software
Service 4899 Communications
Svcs, NEC
Service 7382 Security
Systems Svcs
Service 8713 Surveying
Svcs
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 8542 Electronic
integrated circuits & microassembl, parts
Importing 8542500000 Electronic integrated circuits and microassemblies
Manufacturing 8500 Electrical
machinery & equip. & parts; telecommunications equip., sound recorders,
television recorders
Manufacturing 8521 Video
recording or reproducing apparatus
Manufacturing 8525 Trans
apparatus for radiotelephony etc; tv cameras cordless telephones
Manufacturing 8528 Television
receivers (incl monitors & proj receivers)
Manufacturing 8528104000 Video
recording or reproducing apparatus incorporating a television tuner
Manufacturing 8529 Parts
for television, radio and radar apparatus
Manufacturing 8531100045 Burglar
or fire alarms and similar apparatus
Manufacturing 8540115000 Cathode
ray tv & video monitor tubes, color
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Duplex
multiplexers, B/W
Manufacturer Duplex multiplexers,
colored
Manufacturer DSP metal
case
Manufacturer OS word
processing
Manufacturer Spreadsheet word
processing
Manufacturer Color
monitors
Manufacturer Monochrome
monitors
Manufacturer Security
systems
Manufacturer Server/internet
access device
Manufacturer Digital video
recorders (DVR)
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Argentina
Exporting to Asia
Exporting to Australia
Exporting to Bahrain
Exporting to Bangladesh
Exporting to Brazil
Exporting to Canada
Exporting to Chile
Exporting to China
Exporting to Colombia
Exporting to Cyprus
Exporting to Ecuador
Exporting to Egypt
Exporting to Europe
Exporting to Fiji
Exporting to Finland
Exporting to Germany
Exporting to Hong Kong
Exporting to India
Exporting to Indonesia
Exporting to Iran
Exporting to Iraq
Exporting to Israel
Exporting to Italy
Exporting to Japan
Exporting to Jordan
Exporting to Kuwait
Exporting to Laos
Exporting to Latvia
Exporting to Lebanon
Exporting to Macau
Exporting to Malaysia
Exporting to Maldives
Exporting to Mauritius
Exporting to Middle East
Exporting to Mongolia
Exporting to Morocco
Exporting to Nepal
Exporting to Netherlands
Exporting to New Zealand
Exporting to North America
Exporting to Oceania
Exporting to Pakistan
Exporting to Paraguay
Exporting to Philippines
Exporting to Qatar
Exporting to Romania
Exporting to Russia
Exporting to South Africa
Exporting to South Korea
Exporting to Spain
Exporting to Syria
Exporting to Thailand
Exporting to Turkey
Exporting to UAE
Exporting to USA
Exporting to United Kingdom
Exporting to Venezuela
Exporting to Vietnam
Exporting to Yemen
Importing from Asia
Importing from Austria
Importing from Canada
Importing from China
Importing from Europe
Importing from Germany
Importing from Hong Kong
Importing from Japan
Importing from Malaysia
Importing from North America
Importing from Philippines
Importing from South Korea
Importing from Thailand
Importing from US
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%)