MIRA
INFORM REPORT
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Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOTECH INDUSTRIES INC |
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Registered Office : |
6FL, 248 Pei Shen
Rd Section 3 Shenkeng Hsiang Taipei Hsien 222 |
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Country : |
Taiwan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
03.06. 1981 |
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Com. Reg. No.: |
20889546 |
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Legal Form : |
Public Company |
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Line of Business : |
Research and Development of Technologies related to measurement instruments
and solar cells |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 5,000,000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
MOTECH INDUSTRIES INC
6FL, 248 PEI SHEN RD SECTION 3 SHENKENG HSIANG
TAIPEI HSIEN 222, TAIWAN
TEL: 886-2-26625093 FAX:
886-2-26625097
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUNE 3, 1981
REGISTRATION NO. :
20889546
LEGAL FORM : PUBLIC COMPANY
CHIEF EXECUTIVE :
MR. SIMON YUAN-HUAI TSO (PRESIDENT)
STAFF STRENGTH :
914
CAPITAL :
US$ 82,918,740
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 15,577,559,000 (AS OF DEC. 31, 2007)
EQUITIES :
NTD 13,413,232,000 (AS OF DEC. 31, 2007)
PAYMENT :
EXCELLENT
RECOMM. CREDIT RANGE : UP TO
USD 5,000,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : GOOD
EXCHANGE RATE :
TWD 30.47756 = 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 History*
==============
1981 - Founded, and specialized
in researching of high-end test and in the design, manufacturing, marketing,
and service of measuring instruments.
1997 - Motech Solar
Electricity Division (Motech Solar) was established, and was the pioneer of
manufacturing and marketing high-quality single and multi-crystalline silicon
solar cells in Taiwan.
5 February,
1999 - The foundation stone of
the Solar Cell Division was laid down in TainanSciencePark
2000
- Became the first company in Taiwan to produce silicon solar cells.
2001
- Average efficiency of multi-crystalline silicon solar cells reached
13%.
2002
- Average efficiency of multi-crystalline silicon solar cells reached
14%.
- Successfully developed and released 150mm x 150mm silicon solar cells.
2003
- Began the production of mono-crystalline solar cells.
- Average
efficiency of multi-and mono-crystalline silicon solar cells reached 14.5% and
15.5% respectively
15 May, 2003 - Became a publicly traded
company on Taiwan's Over-the-Counter (OTC) market with (Code no. 6244).
2004 -
Increased the annual output to 35 MWp.
- Annual
production capacity reached 50 MWp with the installation of the 3rd production
line.
- Motech Solar was earmarked on the top 10 solar
cell manufacturers by Photon Magazine.
November 2004 - The pilot
line of wafer slicing began operation
2005 - Average
efficiency of multi- and mono-crystalline silicon solar cells reached 15.5% and
16.5% and above respectively.
- Started
the construction of the second factory building in Tainan Science-Based
Industrial Park.
- Increased
the annual solar cell production capacity to 100 MW with an actual solar cell
output of 60 MWp at the end of the year.
- Became
Taiwan largest and 9th largest solar cell manufacturers in the world!
- Became one of the top 10
producers of solar cells in the world
- Motech
Power Division was established. The specialty was to market, design and install
solar electricity systems that reduce the environmental impact of generating
electricity around the globe. The total installation of solar electricity
systems in Taiwan was 203MW.
2006 - Completed the
construction of the second factory building in Tainan Science-Based Industrial
Park.
- Increased
the total production capacity to 200 MWp at the end of the year after the
installation of the 4th production line and the completion of the second
factory.
- Became the 7th largest solar cell manufacturer in the world.
- Inverter certified for VDE, German.
- The
installation of solar electricity systems upped to 327KW and market share was
over 70% in Taiwan.
26 October, 2006 - LOI with AE
POLYSILICON CORP, New Jersey, USA
2007 -
Total production reached at 176 MW.
- Established MotechR&DCenter.
- Became the
first ISO 14001:2004 and the OHSAS 18001: 1999.certified Solar Cell
Manufacturer in Taiwan.
- Become the 6th largest solar cell manufacturer in the world.
- Motech received solar system installation order from Marshall.
27 August, 2007 - Held
ground-breaking ceremony of Motech's Kunshan production facility
5 March, 2008 - Signed a
Two Polysilicon Agreement with DC Chemical
12 March,
2008 - Selected as one of the Top
100 most desired companies for young people to work for in 2008
29 April,
2008 - Set up new center to
research ways to convert sunshine into clean, low-cost electricity and fuel
*Company Name*
==============
Incorporated as : METER INT'L CORP
Date of incorporation : 3
June, 1981
Changed name to : MOTECH INDUSTRIES INC
Year of change : 1998
*Company Registration*
===================
(1)
License number :
16130514
Date issued : 24 June, 1999
Issuing authority : Ministry of Economic Affairs
(2)
License number : 20889546
Date issued : 3 June, 1981
Issuing authority : Ministry of Economic Affairs
Type of license : Tainan Branch license
*Licenses & Permits*
================
(1)
License number : 94B0002001
Date issued : 3 August, 2000
Issuing authority :
Industrial Development Bureau, MOEA
Type of license : Factory license
(2)
License number : 94A0002003
Date issued : 3 August, 2000
Issuing authority :
Ministry of Economic Affairs (MOEA)
Type of license : Factory license
*Capital Details*
=============
Initial registered capital
: NTD 2,000,000.00
Capital increases as follows:
Date
Increase (NTD)
-----
------------------------
1988
10,000,000.00
1991
30,000,000.00
1994
39,600,000.00
1998 125,780,000.00
2000
171,534,510.00
2001
189,190,550.00
- 1,200,000,000.00
- 2,500,000,000.00
Initial paid-up capital :
NTD 838,908,400.00
Paid-up capital increase as follows:
Date
Increase (NTD)
-----
------------------------
-
1,407,653,800.00
-
2,000,000,000.00
-
2,062,515,920.00
*Office & Facilities*
===============
Size : 580
sq. meters
Location : Taipei
Hsien
Type of building : Industrial
Property status : Owned by
MOTECH INDUSTRIES INC
Comment : Premises
is shared with the following subsidiary companies :
- MOTECH INSTRUMENTS
- MOTECH POWER
Other contact details
----------------------------
E-mail : instrument@motech.com.tw
Website : www.motech.com.tw
*Factories, Size & Locations*
======================
The firm maintains three (3) manufacturing premises as listed below:
(1)
Size : 580 square meter (Approx.)
Location : Taipei Hsien
Type of building : Industrial building
Property status : Owned by MOTECH INDUSTRIES INC
Comments :
Serves as office and factory
(2)
Size : 924 square meter (Approx.)
Location : Taipei Hsien
Type of building : Industrial building
Property status : Owned by MOTECH INDUSTRIES INC
(3)
Size : 32112 square meter (Approx.)
Location : Tainan Hsien
Type of building : Industrial building
Property status : Owned by MOTECH INDUSTRIES INC
*Corporate & Organization Structure*
============================
A large sized company operated and managed by an experienced team of
professionals.
The company is listed on the OTC (Over-the-counter Exchange) but is
considered a "public company" belonging to the category of
"Shang gui" (Emerging Public companies).
Organization and management of the company is divided into the following
divisions:
- Test & Instrument
- Solar Electricity
- Power Systems
*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 1131
2005 0771
2006 0461
*Accountants*
===========
KPMG CERTIFIED PUBLIC ACCOUNTANTS
*Registrar*
=========
TAIWAN INT'L SECURITIES CORP
Stock Market Code: 6244
Web
site: www.motechind.com
the design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: t&m@motechind.com
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. Shao-hua Huang Taiwan n/a n/a n/a
Mr. Yung-hui Tseng Taiwan 9,723,251.00 n/a n/a
Mr. Simon Yuan-huai Tso Taiwan 5,648,064.00 n/a n/a
Mr. Chih-kuei Lee Taiwan 4,467,035.00 n/a n/a
Mr. Ming-hsiao Lu Taiwan
2,101,476.00 n/a n/a
Mr. Wen-chun Tsai Taiwan 961,378.00 n/a n/a
Ms. Shu-chun Wang Taiwan 688,860.00 n/a
n/a
Mr. Cheng-ching Wu Taiwan 151,460.00 n/a
n/a
Mr. San-pao Lee Taiwan 137,522.00 n/a n/a
Management: Mr. Li-jung Lin,
Manager
Mr. Ting-hsing Su, Manager
Mr. Chih-Tao Lin, Manager
Name Nationality
Job Description Dept. / Division
Mr. Li-jung Lin Taiwanese
Manager Factory
Mr. Ting-hsing Su Taiwanese
Manager Finance
Mr. Chih-Tao Lin Taiwanese
Manager R&D
Mr. Kuo-en Chang Taiwanese
Director Technical
Ms. Anne Li Taiwanese
Chief Information Officer -
Mr. Paul Chuan-hai Cheng Taiwanese
Chief Operating Officer -
Mr. Chu-lian Chang Taiwanese
General Manager -
Mr. Leo Fu-tien Cheng Taiwanese
General Manager -
Mr. Yung-hui Tseng Taiwanese
General Manager -
Mr. Chih-chung Huang Taiwanese
Managing Director -
Mr. Simon Yuan-huai Tso Taiwanese
President -
Ms. Chia-chi Chen Taiwanese Special Assistant -
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Research and development of technologies related to measurement
instruments and solar cells.
2. Manufacturing of various types of ADSL Testers, LCR Meters, Power
Harmonic Analyzer, Solar Power System, and related products.
3. Sales of manufactured products to domestic and international markets
Product also includes:
- Digital programmable power supplies
Products: AC/DC power supplies
ADSL
Analysis
Calibration
DC power
supplies
*Brand*
======
Motech
*Payment Terms*
=============
Sales
------
Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
---------------
Local : Cash
30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Quality Certification*
==================
Obtained the following certifications:
Type of certification
Year Scope
---------------------------
------- ---------
ISO 9002
1996-1997 Instruments
ISO 9001:1994
1998-1999 Instruments
ISO 9001:2000
2000 Instruments
ISO 9001:2000
2001-2002 Instruments
& Solar Electricity - Fab1
ISO 9001:2000
2003-2006 Instruments
& Solar Power Systems & Solar Electricity - Fab1
ISO 9001:2000
2007 Instruments
& Solar Power Systems & Solar Electricity - Fab1/Fab2
*Exhibition Participation*
===================
Participated in the following local exhibitions:
(1)
Exhibition fair : Taipei
International Electronics Show
Date attended : 8-12 October, 1999
Location : Taipei World
Trade Center - Exhibition Hall
(2)
Exhibition fair : Taipei
International Electronic Show
Date attended : 9-13 October,
2000
Location : Taipei World
Trade Center - Exhibition Hall
(3)
Exhibition fair : TAITRONICS -
Components & Equipment Show
Date attended : 9-13 October,
2002
Location : Taipei
World Trade Center - Exhibition Hall
(4)
Exhibition fair : TAITRONICS - Finished Products Show
Date attended : 16-20 October, 2002
Location : Taipei World
Trade Center - Exhibition Hall
(5)
Exhibition fair : Taipei International Electronics Show (TAITRONICS -
Components & Equipment)
Date attended : 9-13 October, 2003
Location : Taipei World
Trade Center - Exhibition Hall
(6)
Exhibition fair : TAITRONICS
AUTUMN - Taipei Int'l Electronics Autumn Show
Date attended : 11-15 October,
2005
Location : Taipei World
Trade Center (TWTC)
(7)
Exhibition/Fair : TAITRONICS
AUTUMN - Taipei Int'l Electronics Autumn Show
Date attended : 9-13 October,
2006
Location : Taipei
World Trade Center (TWTC)
(8)
Exhibition fair : Taipei
International Electronic Show (TAITRONICS - Components & Equipment)
Dates attended : 8-12 October, 2004
Location : Taipei World
Trade Center - Exhibition Hall
*Competitors*
===========
The following five (5) locally based companies supply identical range of
products:
1. ACBEL POLYTECH INC
2. REIGN POWER CO LTD
3. POWER ELECTRIC CO LTD
4. POWER MATE TECHNOLOGY CORP
5. BOSER TECHNOLOGY CO LTD
*Production Capacity*
=================
(1)
Item :
Communication equipment (PC/NTD1,000)
Maximum Capacity : 5,134
Current Capacity : 1,454
(2)
Item :
Measuring equipment (PC/NTD1,000)
Maximum Capacity : 20,007
Current Capacity : 14,217
(3)
Item :
Solar battery (1,000PCs/NTD1,000)
Maximum Capacity : 21,800
Current Capacity : 21,773
(4)
Item :
Solar & Optical System (KW/NTD1,000)
Maximum Capacity : 400
Current Capacity : 325
*Local Distribution Network*
=======================
12% of the annual turnover is attributed to local sales.
*International Trade Activity*
=====================
At the time of preparing this report, the Ministry of Economic Affairs
had not yet released trade figures for 2007.
*Export Markets*
=============
88% of the annual turnover is attributed to export.
*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
------ ----------
2004 0299
2005 0163
2006 0111
*LOCAL BRANCHES & MANAGEMENT*
================================
Branch : MOTECH INDUSTRIES INC - HSINSHIH HSIANG
Branch Address : Tainan Industrial Park 3 Ta Shun 9th Rd Hsinshih
Hsiang, Tainan Hsien 744
Branch Tel : [+886] 6-5050789
Branch Fax : [+886] 6-5051789
Branch Employees : 463
*(Subsidiaries , Joint-ventures & Affiliates)
===============================
Company Name : MOTECH (NINGBO) ELECTRONIC CO LTD
Country : China
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : MOTECH CHINA
Address : Ningbo Zhejiang China
Country : China
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : MOTECH INSTRUMENTS
Address : 6Fl, 248 Pei Shen Rd Section 3 Shenkeng Hsiang 222 Taipei
Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Testing and Measuring and Scientific
Company Name : MOTECH POWER
Address : 6Fl, 248 Pei Shen Rd Section 3 Shenkeng Hsiang 222 Taipei
Hsien Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : MOTECH SOLAR
Address : Tainan Science - Base Industrial Park Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Manufacturer
Industry : Electronic Products & Components
Company Name : POWER ISLANDS LTD
Country : Samoa
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
Company Name : THINK GLOBAL ENTERPRISES LTD
Country : Virgin Islands (British)
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Electronic Products & Components
*Subsidiaries, Joint-ventures & Affiliates*
=================================
Maintains distributors/agent networks in over 50 countries including
USA, Canada, England, Germany, France, Italy, Poland, Japan, India, China,
Brazil, Argentina, and Mexico, South Africa, Malaysia to mention a few.
PAYMENT RATING : 1 OBTAINED SCORES :
90
|
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 LARGE
amounts depending on individual judgement experience.
*BANK DETAILS*
==============
Bank Name : CHANG HWA
COMMERCIAL BANK LTD
Branch : Shenkeng
Hsiang,
Branch Address : 38 Tzu Yu Rd Section 2 Central Dist Taichung City 400
(Head Office)
SWIFT Code : CCBCTWTP
Bank Name : SHANGHAI
COMMERCIAL & SAVINGS BANK LTD
Branch : Shenkeng
Hsiang,
Branch Address : Shanghai Bank Tower 2 Min Chuan East Rd Section 1
Chungshan Dist Taipei City 104 (Head Office)
SWIFT Code : SCSBTWTP
Balance Sheet
Currency : NTD
Denomination : in Thousand
31 December, 2007 2006
----------------------
-------------
Current Assets 10,136,414 4,484,778
Funds & long-term investments 306,066 105,675
Property
2,921,139
2,603,988
Other Assets 4,202,299 1,847,846
Current Liabilities (Before) 1,883,916 1,269,456
(After) -- --
Other Liabilities 135,182 145,737
Common stock 2,061,476 1,440,403
Capital Reserve 8,332,149 1,651,393
Retained Earnings (Before) 3,019,447 2,468,427
(After) -- --
Total Assets 17,573,401 9,050,451
Total Liabilities (Before) 4,160,169 3,490,913
(After) -- --
Total Shareholder's Equity (Before) 13,413,232 5,559,538
(After) -- --
Income Statement
Currency : NTD
Denomination : in Thousand
31
December, 2007 2006
------------------------- -------------
Operating revenue 15,577,559 8,099,491
Gross Profit 2,985,935 2,480,433
Operating Income 2,431,040 2,177,620
Non-operating income 255,075 32,412
Non-operating expense 227,315 34,585
Net Income 2,442,196 2,257,907
Earnings (losses) per share (After) 13 16
*Financial Ratios*
=============
31 December, 2007 2006
-------------------------
-------------
Ratio of liabilities to Assets % 24
39
Ratio of long-term capital to fixed Assets% 532 293
Current ratio%
538 353
Quick ratio% 356 215
Interest coverage
28 66
Turnover of receivable (times) 14 12
Average collection period of receivable 25 31
Turnover of inventories (times) 6 5
Average days of sales 61 79
Turnover of fixed assets (times) 5.33 3.11
Turnover of total assets (times) 0.88
0.89
Return on total assets% 14 25
Operating Income 118 151
Net Income before tax 119 157
Profit margin%
16 28
Retroactive 13 16
Cash flows ratio%
0 115
Cash flows adequacy% 18 52
Cash reinvestment ratio% 0 13
Degree of operating leverage -- 1
Degree of financial leverage -- 1
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
2000 $5,801,057.54 $12,829,020.22 $668,491.45
2001 $7,799,767.85 $12,413,493.91 $752,988.97
2002 $14,880,080.48 $18,221,586.66 $2,403,909.17
2003 $32,733,160.32 $40,328,431.37 $6,333,362.17
2004 $73,695,458.65 $63,044,721.80 $16,830,676.69
2005 $135,994,786.73 $102,170,268.56 $36,632,764.61
2006 $244,845,556.23 $273,592,835.55 $68,255,955.26
2007 $470,053,077.85 $530,277,640.31 $73,693,301.15
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
2002 $300,000.00 $2,000,000.00 $2,300,000.00
2003 $2,500,000.00 $2,500,000.00 $5,000,000.00
2004 $1,565,408.99 $3,002,845.98 $4,568,254.97
2005 $2,000,000.00 $3,000,000.00 $5,000,000.00
2006 $540,791.99 $2,248,680.99 $2,789,472.98
Over the past 27 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 5,000,000 appears to be within
SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3600 Electronic
& Electric Equip.
Exporting 3679 Electronic
components,
Manufacturing 3546 Power
driven hand tools, and parts,
Manufacturing 3577 Computer
peripheral equipment, and parts,
Manufacturing 3600 Electronic
& Electric Equip.
Manufacturing 3679 Electronic
components,
Manufacturing 3699 Electrical
equipment and supplies, and parts,
Manufacturing 3825 Instruments
for measuring and testing electricity and elect signals
Manufacturing 3827 Optical
instruments, and parts,
Manufacturing 3829 Measuring
and controlling devices, and parts,
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8542 Electronic
integrated circuits & microassembl, parts
Exporting 9011 Compound
optical microscopes; parts & accessories
Importing 9030390080 Other instruments and apparatus for measuring or checking
power, without a recording device
Manufacturing 8500 Electrical
machinery & equip. & parts; telecommunications equip., sound recorders,
television recorders
Manufacturing 8504408008 Power
supplies (rectifier type) of a rated power output exceeding 50 w but not
exceeding 150 w
Manufacturing 8541406020 Solar
cells assembled into modules or panels
Manufacturing 8542 Electronic
integrated circuits & microassembl, parts
Manufacturing 9011 Compound
optical microscopes; parts & accessories
Manufacturing 9013800000 Optical
devices, appliances and instruments
Manufacturing 9026 Inst
etc measure or check flow, level etc, parts etc
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Analysis
Manufacturer Calibration
Manufacturer Telephone accessories
Manufacturer ADSL
Manufacturer Digital program
controllers
Manufacturer AC/DC power
supplies
Manufacturer DC power
supplies
Manufacturer Electronic
components
Manufacturer Power
supplies
Manufacturer Electronic
measuring instrument
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Africa
Exporting to Argentina
Exporting to Asia
Exporting to Australia
Exporting to Bolivia
Exporting to Brazil
Exporting to Canada
Exporting to China
Exporting to Czech Republic
Exporting to Denmark
Exporting to Europe
Exporting to Finland
Exporting to France
Exporting to Germany
Exporting to Hong Kong
Exporting to Iceland
Exporting to India
Exporting to Indonesia
Exporting to Iran
Exporting to Iraq
Exporting to Israel
Exporting to Italy
Exporting to Japan
Exporting to Macau
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 Pakistan
Exporting to Peru
Exporting to Poland
Exporting to Romania
Exporting to Russia
Exporting to Singapore
Exporting to Solomon Islands
Exporting to South Africa
Exporting to South America
Exporting to South Korea
Exporting to Spain
Exporting to Sweden
Exporting to Switzerland
Exporting to Thailand
Exporting to Turkey
Exporting to USA
Exporting to United Kingdom
Exporting to Vietnam
Importing from Asia
Importing from Australia
Importing from China
Importing from Europe
Importing from Germany
Importing from Hong Kong
Importing from India
Importing from Japan
Importing from Oceania
Importing from South 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%)