MIRA
INFORM REPORT
|
Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FWUSOW INDUSTRY CO LTD |
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Registered Office : |
45
Sha Tien Rd Shalu Chen Taichung Hsien 433 |
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Country : |
Taiwan |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
07.02.1955 |
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Com. Reg. No.: |
56192402 |
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Legal Form : |
Public
Listed Company |
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Line of Business : |
Research
and Development
of edible oils, feeds and related products.
Importer of sesame seeds, flours, starch and related raw materials etc |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
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
4,000,000 |
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Status : |
Very Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
FWUSOW INDUSTRY CO
LTD
45 SHA TIEN RD SHALU CHEN
TAICHUNG HSIEN 433, TAIWAN
TEL: 886- 4-26362111
FAX: 886-
4-26358566
EXECUTIVE SUMMARY
INCORPORATION DATE : FEBRUARY 7, 1955
REGISTRATION NO. :
56192402
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. YAU-KUN HUNG (CHAIRMAN)
STAFF STRENGTH :
501
CAPITAL :
US$ 90,640,394
BUSINESS LINE : MANUFACTURER
TURNOVER :
NTD 7,620,849,000 (AS OF 2007)
EQUITIES :
NTD 3,492,665,000 (AS OF 2007)
PAYMENT :
ABOVE AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 4,000,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : FAIRLY GOOD
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.66770 = 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 : FWU SOW GRAIN PRODUCTS CO
LTD
Changed
name to : FWUSOW INDUSTRY CO LTD
*Company
History*
================
1920 - Established by
Hung Tou and his five brothers initially as an oil processing factory
1931 - Built the first
peanut de-shelling factory in Taiwan
1958 - Built solvent oil
extraction plant
1965 - Started to
produce the ingredients of poultry and livestock food
1968 - Set up the first
automated food processing factory
1969 - Opened a barley
processing plant
1973 - Opened a solvent
oil extract plant in Kaoshsiung
1988 - Set up a fish
processing factory
- Established aquatic feed and
barley plants, which produced poultry, livestock and aquatic feeds, barley and
cooked-grain products
1 December, 1990 - Became listed on the Taiwan Stock
Exchange using the stock code "FWUSOW and stock number "8213"
1992 - Invested and established a subsidiary
company in China
1993 - Launched organic
fertilizer products
1997 - Established Lugan
Fertilizer Factory in the Chang-Hua coastal industrial zone
1998 - Invested the
ZILLINON INT'L CO LTD and the CHIA-TON INDUSTRY CO LTD
2000 - Engaged in pet
food B2B and B2B2C electronic commerce
2004 - Indirectly
invested the XIAMEN FWUSOW INDUSTRY CO LTD
*Capital
Details*
=============
Initial
authorized capital :
NTD 2,760,000,000.00
Authorized
capital increase :
NTD 2,760,000,000.00
Initial
paid-up capital : N/A
Paid-up
capital increases as follows:
Year Increase (NTD)
------- -----------
1983 600,000,000
1986 720,000,000
1989 1,250,000,000
1991 1,650,000,000
1992 1,845,000,000
1994 1,905,750,000
1995 2,001,037,500
1996 2,300,000,000
1997 2,415,000,000
1998 2,463,300,000
2002 2,450,260,000
- 2,722,294,050
*Licenses
& Permits*
=================
(1)
License
number : 9963953500
Date
issued : 30 January, 1981
Issuing
authority : Industrial Development
Bureau, MOEA
(2)
License
number : 9963921600
Date
issued : 17 June, 1981
Issuing
authority : Industrial Development
Bureau, MOEA
(3)
License
number : 9963922200
Date
issued : 27 February, 1989
Issuing
authority : Industrial Development
Bureau, MOEA
(4)
License
number : 9966316701
Date
issued : 31 December, 1990
Issuing
authority : Industrial Development
Bureau, MOEA
(5)
License
number : 9964672801
Date
issued : 19 January, 1996
Issuing
authority : Industrial Development
Bureau, MOEA
*Office
& Facilities*
================
Size :
39,380 sq. meters (Approx)
Location :
Taichung Hsien
Type
of building :
Industrial building
Property
status :
Owned by FWUSOW INDUSTRY CO LTD
Comment :
Serves as office and factory 1
Other
Contact Details
-----------------------------
Tel
no. : 4-26363439
E-mail : trade@fwusow.com.tw
*Factories,
Size & Locations*
=======================
The
firm maintains four (4) manufacturing premises as listed below:
(1)
Size :
7,292 sq. meters (Approx)
Location :
Taichung Hsien
Type
of building :
Industrial building
Property
status :
Owned by FWUSOW INDUSTRY CO LTD
(2)
Size :
3,571sq. meters (Approx)
Location :
Taichung Hsien
Type
of building :
Industrial building
Property
status :
Owned by FWUSOW INDUSTRY CO LTD
(3)
Size :
17,122 sq. meters (Approx)
Location :
Changhua Hsien
Type
of building :
Industrial building
Property
status :
Owned by FWUSOW INDUSTRY CO LTD
(4)
Size : 7,531sq. meters (Approx)
Location :
Kaohsiung Hsien
Type
of building :
Industrial building
Property
status :
Owned by FWUSOW INDUSTRY CO LTD
Maintains
the following plant facilities:
-
Sesame processing plant
-
Soy-bean oil plant
-
Pet food plant
-
Food plant
-
Aquatic food processing plant
-
Poultry & livestock feed plant (Contains the Supplementary Feed and Cattle
Feed Sub-Plants)
-
Supplementary feed plant divided into two namely : Additive plant and
By-product processing plant
-
Grain cooking plant
-
Special feed plant (Contains the Aquatic Feed and Pet Food Sub-Plants)
-
Barley feed plant (Contains the Refined Barley and Barley Feed Sub-Plants)
-
Bio-fertilizer factory
*Corporate
& Organization Structure*
=============================
A
large sized company operated and managed by an experienced team of
professionals.
Maintains
a Research & Development department which consist of three divisions
namely:
1.
Feed Research
2.
Food Research
3.
Agricultural Ingredient Research
*Industry
Ranking*
================
Generally
regarded as one of the Top 5000 Companies in Manufacturing Industry of Taiwan,
details of rank are
as
follows:
Year Rank
------ -------
2005 621
2006 633
2007 517
*Sales
Ranking*
============
Generally
regarded as one of the Top 500 Companies in terms of sales, details of rank as
follows:
Year Rank
------ ------
1996 152
1997 182
1998 214
*Auditors*
=========
SOLOMON
& CO, CPAS
*Registrar*
=========
GRAND
CATHAY SECURITIES CORP
www.fwusow.com.tw
The design is professional and the content
is well organized. At present it is in both Chinese and English versions.
E-mail: fwusow@fwusow.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.
Yuan-yuan Hung Taiwan
7,763,949.00 n/a n/a
Mr.
Yau-chih Hung Taiwan
7,005,875.00 n/a n/a
Mr.
Cheng-gang Hung Taiwan 6,332,272.00 n/a n/a
Mr.
Yao-chi Hung Taiwan
5,212,795.00 n/a n/a
Mr.
Yao-hsin Hung Taiwan
4,334,709.00 n/a
n/a
Mr.
Yau-kun Hung Taiwan
3,335,606.00 n/a
n/a
Mr.
Wei-min Sheng Taiwan
863.00 n/a
n/a
Management : Mr. Tai-ping Chen, Assist. Manager
Mr.
Cheng-fang Hung, General Manager
Mr.
Chieh-sheng Hung, General Manager
Name
Nationality
Job
Description
Mr.
Tai-ping Chen Taiwanese
Assist.
Manager
Mr.
Cheng-fang Hung Taiwanese General Manager
Mr.
Chieh-sheng Hung Taiwanese General Manager
Mr.
Hsiang-lin Wang Taiwanese Manager
Ms.
Hsiu-chin Chang Taiwanese Representative
Mr.
Han-yeh Wang Taiwanese
Vice
General Manager
Mr.
Yao-hsin Hung Taiwanese
Vice
General Manager
Mr.
Yung-feng Tai Taiwanese
Vice
General Manager
*Main
Products & Services*
======================
Specializes
in the following areas of work :
1.
Research and development a wide range of edible oils, feeds and related
products.
2.
Importing of various range of sesame seeds, flours, starch and related raw
materials.
3.
Manufacturing of various types of
animal feeds, edible oils, foods and organic based fertilizers.
4.
Selling predominantly to domestic market.
5.
Also engaged in OEM activity.
Products
line include the following:
1.
All kinds of pet food for dogs, cats, aquarium fish, pet birds as well as
mouse, rabbits
2. Special zoo use feed.
3. Fish feed products which include the feed
for pond fish, eels, frogs, shrimps, basses,
milk fish and salt water fish.
4. Feed for pigs, chicken, ducks, goats, deer
5. Various fertilizers containing organic
matters such as mixed organic fertilizers and compound fertilizers
Products : After-sales
services
Alfalfa
Amino compound
Animal feeds
Animal products
*Brand*
======
Fwusow
*Payment
Terms*
==============
Sales
------
Local
: Cash
30-60 days credit
Export
: Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
--------------
Local : Cash
30-60 days credit
Import
: Letter of Credit (L/C)
*Detailed
Product Speficiations*
==========================
Product
name : Textured Soy Protein
Specifications : A multi-purpose raw ingredient for
vegetarian food.
Application : Suitable for restaurant and family
cooking and for food processor in making various kinds of
vegetarian
and prepared food.
*Machinery
& Equipment*
====================
Machinery/equipment
include:
-
Twin screw processing machines
*Production
Capacity*
=================
(1)
Item : Feeding
Maximum
capacity : 370,000 (metric ton)
Current
capacity : 298,793 (metric ton)
(2)
Item : Fat
Current
capacity : 30,985 (metric ton)
(3)
Item : Soy beans powder
Current
capacity : 144,488 (metric ton)
(4)
Item : Barley products
Maximum
capacity : 45,000 (metric ton)
Current
capacity : 22,311 (metric ton)
(5)
Item : Soy beans
Maximum
capacity : 25,000 (metric ton)
Current
capacity : 23,939 (metric ton)
(6)
Item : Ripe products
Maximum
capacity : 42,400 (metric ton)
Current
capacity : 23,235 (metric ton)
(7)
Item : Health food
products
Maximum
capacity : 1,200 (metric ton)
Current
capacity : 273 (metric ton)
(8)
Item : Sesame
Maximum
capacity : 3,500 (metric ton)
Current
capacity : 2,384 (metric ton)
(9)
Item : Organic fertilizer
Maximum
capacity : 48,700 (metric ton)
Current
capacity : 35,971 (metric ton)
*Mergers
& Acquisitions*
=====================
Type : Merger
Party
involved : CHIA FHA CHANG
AGRICULTURAL CHEMISTRY CO LTD
Date
of transaction : February 2003
Details : The company which is
the surviving entity merged with CHIA FHA CHANG
AGRICULTURAL
CHEMISTRY CO LTD.
*Quality
Certification*
==================
Obtained
the following certifications:
(1)
Type
of certification : ISO 9002
(2)
Type
of certification : CNS label, FGMP
certificate and ISO-9001
Details : For salad oil
products
(3)
Type
of certification : FGMP recognition and
ISO-9001
Year
of certification : 1996
Details : For its food plant
(4)
Type
of certification : ISO-9001
Details : For its
Bio-fertilizer factory
(5)
Type
of certification : ISO-9001
Year
of certification : 2001
Details : For its Lugan
plant
(6)
Type
of certification : ISO-9001:2000
Year
of certification : 2002
*Exhibition Participation*
====================
Participated
in the following local exhibitions:
(1)
Exhibition
fair : 9th Taipei International Food
Show
Date
attended : 9-12 June, 1999
Location : Taipei World Trade Center - Exhibition Hall
(2)
Exhibition
fair : 11th Taipei Int'l Food Show
Date
attended : 14-15 June, 2001
Location : Taipei World Trade Center -
Exhibition Hall
*Competitors*
===========
The
following locally based companies
supply similar range of products:
-
FORTUNE CREATION CO LTD
-
HUI SHUNG AGRICULTURE & FOOD CORP
-
TAI ROUN PRODUCTS CO LTD
-
MORN SUN FEED MILL CORP
-
CHIA HSIN LIVESTOCK CORP
-
SHIN TAI INDUSTRY CO LTD
-
FANDSO INT'L CORP
-
GREAT WALL ENTERPRISE CO LTD
-
LI HAN ENTERPRISE CO LTD
-
FANDSO INT'L CORP
-
CHANG YUNG ENTERPRISE CO LTD
-
JUI FENG FEED CO LTD
-
LEADER ENTERPRISE CO LTD
-
TOTAL NUTRITION TECHNOLOGIES CO LTD
-
DAR ENG INDUSTRIAL CO LTD
-
WANG PING PET CO LTD
*Local Distribution Network*
=====================
Approximately
99% of the annual turnover is attributed to local sales are achieved through
direct sales to local construction firms and wholesalers.
*Export
Market*
=============
Approximately
1% of the annual turnover is attributed to exports.
*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
------ -------
1997 293
2001 399
2002 399
2003 332
2004 388
2005 410
2006 499
2007
513
*LOCAL
BRANCHES & MANAGEMENT*
================================
Branch
: FWUSOW INDUSTRY CO LTD (SALES CENTER) - TAIPEI CITY
Branch
Address : 4Fl, 72 Ning Po West St Chungcheng Dist, Taipei City, 100
Branch
Tel : [+886] 2-23932241
Branch
Fax : [+886] 2-23933839
Branch
Employees : 11
Branch
: FWUSOW INDUSTRY CO LTD - LUKANG CHEN
Branch
Address : 7 Lu Kung Rd Lukang Chen, Changhwa Hsien 505
Branch
Tel : [+886] 4-7810159
Branch
Employees : 114
Branch
: FWUSOW INDUSTRY CO LTD - CHIAOTOU HSIANG
Branch
Address : 60 Cheng Kung North Rd Chiaotou Hsiang, Kaohsiung Hsien 825
Branch
Tel : [+886] 7-6113311
Branch
Employees : 49
Branch
: FWUSOW INDUSTRY CO LTD - KAOHSIUNG CITY
Branch
Address : 334 Chi Hsien 2 Rd Chienchin Dist, Kaohsiung City, 801
Branch
Tel : [+886] 7-2113161
Branch
Employees : 8
Branch
: FWUSOW INDUSTRY CO LTD - WUKU HSIANG
Branch
Address : 8Fl, 145 Wu kung Rd Wuku Hsiang, Taipei Hsien 248
Branch
Tel : [+886] 2-22980601
Branch
Employees : 13
*(Subsidiaries
, Joint-ventures & Affiliates)
===========================
Company
Name : CHIA FHA HSING ENTERPRISE CO LTD
Address
: 33 Ta Tung St Shalu Chen 433 Taichung Hsien Taiwan
Country
: Taiwan
Relationship
: Affiliate
Legal
Form : Private company with limited liability
Company
Type : Manufacturer
Industry
: Food Products
Company
Name : FWUSOW (SINGARPORE) INVESTMENT CO LTD
Address
: Fu Lu Shou Complex 149 Rochor Rd #05-01 188425 Singapore
Country
: Singapore
Relationship
: Affiliate
Legal
Form : Private company with limited liability
Company
Type : Service
Industry
: Financial Services - General
Company
Name : FWUSOW NEW INDUSTRY CO LTD
Address
: 36-1, Ta Tung St, Sha Lu Shen, Taichung Hsien Taiwan
Country
: Taiwan
Relationship
: Affiliate
Legal
Form : Private company with limited liability
Company
Type : Trader
Industry
: Agricultural Products
*Subsidiaries,
Joint-ventures & Affiliates*
=================================
Maintains
indirect investment to the following companies:
-
ZILLINON INTERNATIONAL CO LTD
-
XIAMEN FWUSOW INDUSTRY CO LTD
-
CENTRAL UNION OIL CO LTD
-
CHIA-TON INDUSTRY CO LTD
Owns
several locally-based research farms on feed and food including :
-
Nantou Livestock Research Farm
-
Lugan Marine Research Farm
-
Pet Food Research Farm
-
Chicken Research Farm
-
Food Research Laboratory
PAYMENT RATING : 2 OBTAINED SCORES :
75
|
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*
===============
Bank
Name :
BANK OF TAIWAN
Branch
:
Chungcheng Dist,Taipei City
Branch
Address :
120 Chung Ching South Rd Section 1 Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT
Code
: BKTWTWTP
Bank
Name :
HUA NAN COMMERCIAL BANK LTD
Branch
:
Chungcheng Dist,Taipei City
Branch
Address :
38 Chung King South Rd Section 1 Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT
Code :
HNBKTWTP
Balance
Sheet
Currency : NTD
Denomination
: in Thousand
2006 2007
-------------
------------
Current
Assets
2,535,112 2,977,479
Funds
& long-term investments 721,275 759,463
Property 1,606,788 1,578,699
Other
Assets 156,543 129,468
Current
Liabilities (Before)
872,132 953,772
(After) 934,462
Long-term
Liabilities 120,000
332,558
Other
Liabilities 639,668 696,708
Common
stock
2,663,184 2,663,184
Capital
Reserve 240,427 242,028
Retained
Earnings (Before) 159,477 266,403
(After) 97,148
Total
Assets 5,019,715 5,475,703
Total
Liabilities (Before)
1,631,800 1,983,038
(After) 1,694,130
Total
Shareholder's Equity (Before) 3,387,915
3,492,665
(After) 3,325,586
Income
Statement
Currency : NTD
Denomination
: in Thousand
2006 2007
-------------
------------
Operating
revenue 5,575,579 7,620,849
Gross
Profit
582,991 771,851
Operating
Income 110,102
237,077
Non-operating
income
59,050 44,270
Non-operating
expense
41,794 51,300
Net
Income 95,251 169,255
Earnings
(losses) per share (After) 0.36 0.63
*Financial
Ratios*
==============
2006 2007
-------------
------------
Ratio
of liabilities to Assets (%) 32.51 36.22
Ratio
of long-term capital to fixed
Assets (%) 218.32 242.26
Current
ratio (%) 290.68 312.18
Quick
ratio (%) 195.19 202.95
Turnover
of receivable (times)
7.13 8.18
Turnover
of inventories (times) 6.42 7.47
Turnover
of expense (times)
22.05
8.01
Turnover
of fixed assets (times) 3.47 4.83
Turnover
of total assets (times)
1.11 1.39
Return
on total assets (%) 1.90 3.09
Profit
margin (%) 1.71 2.22
*Financial Summary (Currency: U.S. $'s)
=============================
Year Sales Assets
Net Income
1992
$154,763,074.07 $123,173,444.44 $599,888.89
1993
$143,662,666.67 $113,002,481.48 $3,160,518.52
1994
$155,080,259.26 $115,358,444.44 $4,195,481.48
1995
$174,313,074.07 $114,011,407.41 $8,002,148.15
1998
$165,074,074.07 $163,111,111.11 -$5,222,222.22
2000
$127,621,088.65 $127,165,443.23 $886,003.11
2001
$115,148,868.25 $121,336,709.23 $994,747.53
2002
$119,749,755.68 $122,010,434.03 $1,558,551.31
2003
$148,971,078.43 $152,227,941.18 $900,432.53
2004
$167,975,969.92 $162,235,759.40 -$983,849.62
2005 $172,514,755.13 $159,357,630.33 $1,696,429.70
2006 $168,548,337.36 $151,744,709.79 $2,879,413.54
2007 $229,959,233.55 $165,229,420.64 $5,107,272.18
*Int´l
Trade Activity (Currency: U.S. $'s)
=============================
Year
Imports Exports
Total
1996
$116,600,000.00 $1,900,000.00
$118,500,000.00
1997
$104,000,000.00 $1,500,000.00
$105,500,000.00
1998
$74,600,000.00 $500,000.00 $75,100,000.00
2001
$58,838,980.99 $1,052,078.99 $59,891,059.98
2002
$63,383,440.01 $1,858,443.00 $65,241,883.01
2003
$86,011,426.99 $1,332,163.00 $87,343,589.99
2004
$96,516,224.00 $1,478,280.00 $97,994,504.00
2005
$115,825,560.82 $1,500,000.00
$117,325,560.82
2006
$85,125,626.00 $1,346,427.00 $86,472,053.00
2007
$80,236,521.00 $1,176,325.02 $81,412,846.02
SC is considered large-sized in its line with a long development history.
Taking into consideration of SC’s general performance, a credit line up to USD 4,000,000 appears to be
within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2022
Cheese, natural and
processed
Importing 2077
Animal and marine fats and
oils
Importing 3523
Farm machinery and
equipment, and parts, nspf
Importing 5083
Farm/Garden Machinery/Equip
Manufacturing 0116
Soybeans
Manufacturing 1479
Chemicals and fertilizer
minerals
Manufacturing 2047
Dog and cat food
Manufacturing 2048
Prepared feeds, nspf
Manufacturing 2075
Soybean oil and byproducts
Manufacturing 2076
Vegetable oils and byproducts,
except corn, cottonseed, and soybean
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 1515500000
Seasame oil and its
fractions, whether or not refined but not chemically modified
Importing 0406
Cheese
and curd
Importing 0406200000
Cheese of all kinds, grated
or powdered
Importing 0505
Bird
skins & other feathered parts and down
Importing 0505900020
Feather meal
Importing 0511
Animal
products nesoi; dead animals, inedible etc.
Importing 0511992000
Parings and similar waste
of raw hides or skins; glue stock, not elsewhere specified or included
Importing 1001
Wheat
and meslin
Importing 1001100000
Durum wheat
Importing 1001902095
Wheat and meslin, except
seed
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer
Soyabean
Importer
Fish
meal
Importer
Corns
Importer
Animal
products
Importer
Barley
Importer
Oil
seeds
Importer
Soybean
oil
Importer
Quaternaries
Importer
Amino
compound
Importer
Peat
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia
/ Pacific Exporting,Importing
Europe
Exporting,Importing
North
America Exporting,Importing
Pacific
Exporting,Importing
Argentina Importing
Australia
Exporting,Importing
Belgium
Importing
Brazil
Importing
Cambodia
Exporting
Canada
Exporting,Importing
Chile
Importing
China
Importing
France
Importing
Germany
Importing
India
Importing
Indonesia
Exporting,Importing
Japan
Exporting,Importing
Kiribati
Exporting
Malaysia
Exporting,Importing
Netherlands
Importing
New
Zealand Importing
Peru
Importing
Philippines
Exporting
Samoa
Importing
Singapore
Exporting,Importing
South
Africa Exporting
South
Korea Importing
Thailand
Exporting,Importing
USA
Exporting,Importing
United
Kingdom Importing
Vietnam
Importing
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.00 |
|
UK Pound |
1 |
Rs.82.14 |
|
Euro |
1 |
Rs.65.09 |
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%)