MIRA
INFORM REPORT
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Report Date : |
18.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHINA MAN-MADE FIBER CORP |
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Registered Office : |
10FL World Trade Bldg 50 Hsing Sheng South
Rd Section 1 Chungcheng Dist Taipei City 100 |
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Country : |
Taiwan |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
11.05. 1955 |
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Com. Reg. No.: |
07066907 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Research and Development of Man-Made Fibers and related Technologies. Manufacture of Man-Made Fibers, Chemicals and related 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 5,000,000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
CHINA
MAN-MADE FIBER CORP
10FL WORLD TRADE BLDG 50 HSING SHENG SOUTH
RD
SECTION 1 CHUNGCHENG DIST TAIPEI CITY 100,
TAIWAN
TEL: 886-2-23937111 FAX: 886-2-23910462
EXECUTIVE SUMMARY
INCORPORATION DATE : MAY
11, 1955
REGISTRATION NO. :
07066907
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MR. KUEI-SHYAN WANG (CHAIRMAN)
STAFF STRENGTH :
570
CAPITAL :
US$ 487,562,189
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 19,632,872,000 (AS OF 2007)
EQUITIES :
NTD 18,723,019,000 (AS OF 2007)
PAYMENT :
ABOVE AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 5,000,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY GOOD
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 30.47480 = 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*
===============
1955 -
The first man-made fiber plant was built in Toufen, Mouli.
28 April,
1957 - Toufen plant geared in
the production of rayon filament and rayon staple filament and rayon staple
fibers. Became the first manufacture of the man-made fiber in Taiwan.
1960 -
Manufactured a variety of cellophane products.
1963 - Invested a new
company, the UNION NYLON CORP. This factory produced various denied of nylon
filaments.
1965 - Formed a new
technique division, Hwalon division to produce the polyester staple fiber.
1967 - By providing the
equipment of the Hwalon division, it cooperated with the TEIJIN CORP of Japan
to form a joined venture company Hwalon. This new Hwalon company was not a
subsidiary company of CMFC. It was a separated self-running company.
December 1972 - The first ethylene glycol (EG)
plant was constructed at Tashe industrial park of Kaoshung. The designed
capacity of this EG plant was 50,000 tons per year.
27 May, 1976 - Started up the EG plant and
produced the quality EG for the polyester fiber industry.
1979 - Right adjacent to
the EG plant, planed to built a capacity of 40,000 tons per year ethylene oxide
(EO) plant.
March 1984 - The EO
plant was started up and processed
1984 - Formed the Pan
Asia EOD Chemical plant to produce nonylphenol at Tashe industry area.
The
provided one of the material to produce the nonionic surfactant for the PAECC
plant.
July 1994 - Constructed another chemical
plant to produce nonylphenol at Tashe industry park. The provided one of the
material to produce the nonionic surfactant for the PAECC plant.
1996 - By employing the
process of TEIJIN CORP of Japan, we constructed a polyester filament yarn plant
at the same location of the Tashe industry part. The designed capacity of this
plant is 330 tons per day.
1996 -
Built a Cogeneration plant of 41,700KW in our Tashe industry district.
1997 - Started up both the polyester
plant and the Cogeneration plant.
2000 - New investment
NAN-CHUNG PETROCHEMICAL CORP was on stream.
2001 -
According to the business benefit, the Toufen plant stopped production.
*Capital Details*
=============
Share value
: NTD 10.00/-each
Initial registered capital : NTD 14,641,000,000.00
Capital increase NTD 14,700,000,000.00
Initial paid-up capital : NTD 40,000,000.00
Paid-up capital increase : NTD 14,641,000,000.00
Year of increase : 2007
*Office & Facilities*
===============
Size : 1,126.04 sq. ft. (Approx)
Location : Central Business District
Property status : Owned by CHINA MAN-MADE
FIBER CORP.
Type of building : Commercial building
Other contact details
----------------------------
Fax no. : 2-23933522
E-mail : fin@cmfc.com.tw
*Factories, Size & Location*
=====================
(I)
Type of building : Industrial building
Building size : 1,689,984 sq. ft. (Approx)
Land size : 102,700 sq. ft. (Approx)
Location : Industrial district (Kaohsiung Hsien)
Property status : Owned by CHINA MAN-MADE FIBER CORP
(II)
Type of building : Industrial building
Building size : 32,609 sq. ft. (Approx)
Location : Industrial district (Miaoli Hsien)
Property status : Owned by CHINA MAN-MADE FIBER CORP
*Corporate & Organization Structure*
===========================
A large sized company operated and managed by an experienced team of
professionals.
*Industry Ranking*
==============
(1)
Considered as one of Taiwan's leading Ethylene Glycol producers.
(2)
Generally regarded as one of the Top 1,000 Companies in Manufacturing
Industry of Taiwan.
*Sales Ranking*
============
Generally regarded as one of the top 500 manufacturing companies in
Taiwan in terms of sales.
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Auditors*
========
KWANG-I & CO
*Registrar*
=========
CHINA MAN-MADE FIBERS CORP - Stock Dept
Web
site: www.cmfc.com.tw
the design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: sal@cmfc.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 %
------------------ ---------- ----------------- ---------- -------
TA YI INVESTMENT CO LTD Taiwan 42,302,541.00 n/a n/a
PAN ASIA INVESTMENT CO LTD Taiwan 32,806,103.00 n/a n/a
CHINA MAN-MADE FIBER Taiwan
23,521,917.00 n/a n/a
INVESTMENT CO LTD
Management: Mr. Wen-lung Yen,
Manager
Ms. Olivia Ching-ying Su, Manager
Mr. Chien-tsun Chang, Manager
Name Nationality
Job Description Dept. / Division
Mr. Wen-lung Yen Taiwanese
Manager Construction
Ms. Olivia Ching-ying Su Taiwanese
Manager Finance
Mr. Chien-tsun Chang Taiwanese
Manager I.T.
Mr. Yung-ta Liu Taiwanese
Manager Sales
Mr. Kuo-chin Chen Taiwanese
Deputy Manager -
Mr. Tom Hung-yang Wu Taiwanese Deputy Manager -
Mr. Kuei-shyan Wang Taiwanese General Manager -
Mr. Chin-hu Hsieh Taiwanese
Vice General Manager -
Mr. Wan-chun Hsu Taiwanese Vice General Manager -
*Main Products & Services*
=====================
Specializes in the following areas of work:
1. Research and development of man-made fibers and related technologies.
2. Manufacture of man-made fibers, chemicals and related products.
3. Sales and distribution of manufactured products to domestic and
international markets.
Products: Boys' ready-made clothes
Carbon dioxide
Casual wear
Cellophanes
Centrifuges
*Payment Terms*
=============
Sales
-------
Local : 30-60 days credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
--------------
Local : 30-60 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Brand*
======
CMFC
*Detailed Products Specification*
========================
Product details include:
(1) Cellophane
Principal uses: -
Cellophane adhesive tape
- Cigarettes, and Cigars direct wraps
(2) Ethylene Glycol
Principal uses: -
Polyesters, antifreeze ice and snow removal, high temperature coolant
explosives
- Plastics, solvents, brake oil
- Conditioning agent, air treatment
- Surfactants, Glycol ethers
(3) Viscose Rayon Filament Yarn
Principal uses: -
Weaving, knitting
(4) Rayon Staple Fiber
Principal uses: - Rayon
fabrics
*Production Capacity*
================
Item
Maximum Capacity/Tons
Current Capacity/Tons
------
--------------------------------- -------------------------------
Ethylene Glycol 270,000 290,162
Ethylene Oxide 22,500 22,708
Nonyl Phenol 22,500 21,127
*Associations*
===========
Member of:
- TAIWAN UNION CPA'S
*Competitors*
===========
The following locally based companies supply similar range of products:
- HUNG CHOU CHEMICAL INDUSTRY CO LTD
- TONG-HWA SYNTHETIC FIBER CO LTD
- CHUNG FU CHEN YEH ENTERPRISE CORP
- TAINAN SPINNING CO LTD
- KING TEXTILE CO LTD
*Local Distribution Network*
======================
49% of the annual turnover is attributed to local sales to the following
industries:
Industry
%
------------ -----
Textile
90
Plastic
10
Note:
Sales are achieved through the following distribution channels:
1. 5% of sales through agents
2. 95% of sales directly to end-users
Breakdown of local sales per product as follows:
Product
%
-----------
---
Ethylene Oxide
30 (Sold to chemical factories)
Rayon
100 (Sold to local factories)
Polyester Silk
7
Nonyl Phenol
50
Ethylene Glycol
20
*Export Markets*
=============
51% of the annual turnover is attributed for export.
Breakdown of export per product as follows:
Product %
-----------
---
Nonyl Phenol
65
Polyester Silk
2
Ethylene Glycol -
*Overseas Suppliers*
================
- PETROLEUM CORP
*Overseas Customers*
================
- HISTOL LTD
*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 ranked are as follows :
Year Rank
------
-------
1997 245
2002 445
2003 375
2004 389
2005 392
2006 372
*LOCAL BRANCHES & MANAGEMENT*
=================================
Branch : CHINA MAN-MADE FIBER CORP - TOUFEN CHEN
Branch Address : 236, Lane 2, Shuang Shih St Toufen Chen, Miaoli Hsien
351
Branch Tel : [+886] 3-7663666
Branch Fax : [+886] 3-7591172
Branch Employees : 80
*(Subsidiaries, Joint-ventures & Affiliates)
================================
Company Name : FORMOSA IMPERIAL WINESELLER CORP
Address : 10Fl World Trade Bldg 50 Hsing Sheng South Rd Section 1 Chungcheng
Dist Taipei City 100 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Importer
Industry : Beverages
Company Name : PAN ASIA CHEMICAL CORP
Address : 11Fl World Trade Bldg 50 Hsing Sheng South Rd Section 1
Chungcheng Dist Taipei City 100 Taiwan
Country : Taiwan
Relationship : Affiliate
Legal Form : Public Listed Company
Company Type : Manufacturer
Industry : Chemicals
Company Name : RELIANCE SECURITIES CO LTD
Country : Taiwan
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Service
Industry : Financial Services - General
Company Name : RELIANCE SECURITIES INVESTMENT TRUST CO LTD
Address : 4Fl, 50, Hsin Shen South Rd, Section 1 Chungcheng Dist Taipei
City 100 Taiwan
Country : Taiwan
Relationship : Subsidiary
Legal Form : Public Company
Company Type : Service
Industry : Financial Services - General
*Subsidiaries, Joint-ventures & Affiliates*
==============================
Maintains investments in NAN CHUNG PETROCHEMICAL CO LTD.
PAYMENT RATING : 2 OBTAINED SCORES :
80
|
Implication |
Implications |
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|
1 |
Scores 85–100 |
Excellent |
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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
SWIFT Code : BKTWTWTP
Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Chungcheng Dist,Taipei City
Branch Address : 47 King-Shan South Rd Section 1
Account No. : 113160025550
SWIFT Code : CCBCTWTP
Bank Name : FIRST COMMERCIAL BANK CO LTD
Branch : Nantzu Dist,Kaohsiung City
Branch Address : 10Fl, 30 Chungking South Rd Section 1 Chungcheng Dist
Taipei City 100 (Head Office)
Account No. : 70730004677
SWIFT Code : FCBKTWTP
Bank Name : HUA NAN COMMERCIAL BANK LTD
Branch : Chungcheng Dist,Taipei City
Branch Address : 38 Chung King South Rd Section 1
SWIFT Code : HNBKTWTP
(1)
Balance Sheet
Currency : NTD
Denomination : In Thousands
2001 2002 2003 2004
2005 2006
(Restated)
------ ------ ------ ------ ------ ------
Current
Assets
5,208,073 5,361,894 6,783,425 10,179,663
9,876,445 7,665,055
Funds
& long-term
investments 4,768,120 5,385,433
4,161,233 4,834,655 6,676,275 6,376,456
Property 10,370,648 9,871,293 9,266,650 8,461,831 6,186,593
5,868,995
Other
Assets
1,176,267 676,066 689,700 3,039,095
3,627,157 5,496,887
Total
Assets
21,602,186 21,328,608 20,937,322 26,543,028
26,385,733 25,418,135
Current
Liabilities (Before) 6,574,289 6,120,444 6,519,131
4,566,931 4,661,827 5,526,583
(After) 6,574,289 6,120,444 6,519,131 5,281,429
4,661,827
-
Long-term
Liabilities 6,937,087 6,642,358 3,758,103
2,849,227 3,714,892 2,838,892
Other
Liabilities 38,896 120,608 128,740
157,869 134,803 156,234
Total
Liabilities (Before) 13,550,272 12,883,410 10,405,974
7,574,027 8,511,522 8,521,709
(After)
13,550,272 12,883,410 10,405,974 8,288,525
8,511,522 -
Common
stock
9,123,038 9,123,038 9,123,038 12,100,000
14,641,000 14,641,000
Capital
Reserve
1,168,044 1,344,635 2,625,961 3,954,373
1,501,885 1,517,985
Retained
Earnings (Before) 75,866 (549,564) 2,042,102
3,478,162 900,333 (191,426)
(After) 75,866 (549,564)
211,212 888,164 - -
Total
Shareholder's
Equity (Before) 8,051,914 8,445,198
10,531,348 18,969,001 17,709,562 16,896,426
(After) 8,051,914 8,445,198 10,531,348
18,254,503 17,709,562 -
Income
Statement
Currency : NTD
Denomination
: In Thousands
2001 2002 2003 2004 2005 2006
(Restated)
------ ------ ------ ------ ------
------
Operating
Revenue 8,643,154 8,476,752 11,246,158
14,244,158 13,542,540 14,045,020
Gross
Profit
837,605 780,103 2,040,208 3,248,030
1,303,197 661,846
Operating
Income
416,818 345,515 1,507,423 2,692,490
684,053 94,010
Non-operating
Income 572,540 174,317 1,290,101
1,965,273 1,080,885 254,752
Non-operating
Expense 989,274 1,156,630 963,929
560,919 1,675,892 1,475,670
Net
Income
8,252 (617,178) 2,042,102 3,266,950
40,993 (1,120,583)
Earnings
(losses) per share
(After) 0.01 (0.72) 2.30 2.48 0.03
(0.96)
(2)
Balance Sheet
Currency : NTD
Denomination : In Thousands
2007
------------
Current assets 7,951,002
Funds and long-term investments 8,089,467
Fixed assets 5,519,698
Intangible assets 2,220
Other assets 5,275,257
Total Assets 26,837,644
Current liabilities 5,367,382
Long-term liabilities 1,399,000
Other liabilities 1,348,243
Total liabilities 8,114,625
Capital
14,641,000
Capital surplus 1,096,687
Retained earnings 2,110,493
Equity adjustments 2,476,581
Treasury stock (1,601,742)
Stockholders' equity 18,723,019
Book value per share 16
Number of treasury stock acquired
by the company and subsidiaries
(unit: share)
279,389,283
Income Statement
Currency : NTD
Denomination : In Thousands
2007
------------
Operating incomes 19,632,872
Operating costs 17,119,002
Gross income (loss) from operations 2,513,870
Operating expenses 607,419
Operating income (loss) 1,906,451
Non-operating incomes and gains 764,669
Non-operating expenses and losses 525,160
Income (loss) from continuing
operations before income
tax 2,145,960
Income tax expense (benefit) 191,238
Net income (loss) from continuing
operations 1,954,722
Income (loss) from discontinued
operations
0
Income (loss) from extraordinary items 0
Cumulative effect of changes in
accounting principles
0
Net income 1,954,722
Adjusting item 0
*Financial
Ratios*
==============
(1)
2001 2002 2003 2004 2005 2006
(Restated)
------ ------ ------ ------ ------ ------
Ratio
of liabilities to
Assets (%) 62.73 60.40 49.7 28.53
32.26 33.53
Ratio
of long-term capital
to fixed Assets (%) 150.32 152.84 130.85
232.27 326.78 315.68
Current
ratio (%)
79.22 87.61 104.05
222.90 211.86 138.69
Quick
ratio (%)
47.39 49.19 79.82 144.30 129.70 97.15
Interest
coverage
1.00 (0.19) 6.88 39.40 1.96 (8.90)
Turnover
of receivable
(times) 5.37 5.17 6.84
9.43 7.41 5.75
Turnover
of inventories
(times) 5.59 7.16 10.23 10.85 11.25 12.29
Turnover
of expense
(times) 6.01 6.14 8.67 8.05 10.00 10.46
Average
days of sales
65 51 36 34 39 30
Turnover
of fixed assets
(times) 0.83 0.86 1.21 1.68 2.19 2.39
Turnover
of total assets
(times) 0.40 0.40 0.54 0.54 0.51 0.55
Return
on total assets (%) 0.04 (2.89) 9.75 12.31 0.16 (4.41)
Return
on shareholder's
Equity (%) 0.10 (7.31)
19.39 17.22 0.23 (6.63)
Operating
Income 4.57 3.79 16.52 22.25 4.67 0.64
Net
Income before tax 0.00 (6.98) 20.10 31.43 0.61 (7.70)
Profit
margin (%)
0.10 (7.28) 18.16 22.94
0.30 (7.98)
Retroactive 0.01 (0.72) 2.30 2.48 0.03 (0.96)
Cash
flows ratio (%)
(5.13) 13.21 31.37 52.73 44.82 (3.57)
Cash
flows adequacy (%) (17.37) (8.69) 77.31 2.66 7.19 349.69
Cash
reinvestment ratio (%) (1.65) 3.83 9.60 8.29 6.99 0.00
Degree
of operating leverage 2.65 5.24 1.99 1.33 2.55
9.73
Degree
of financial leverage (2.03) (1.83) 1.27 1.04 1.15 (5.00)
(2)
2007
------------
Growth %
Year-on-Year Growth 39.79
Profitability
Profit Margin (%) 9.96
Return on Equity (%) 10.44
Return on Assets (%) 7.28
Leverage
Total Debt Equity (Times) 0.43
Current Debt Equity (Times) 0.29
Long Term Debt to Equity 0.15
Total Asset To Total Equity 1.43
Asset Management
Total Assets Turnover (Times) 0.73
Fixed Assets Turnover (Times) 3.56
Liquidity
Current Ratio 1.48
*Assets*
=======
Type : Machinery &
Equipment
Amount : NTD 4 billion
*Financial Summary (Currency: U.S. $'s)
==============================
Year Sales Assets Net Income
1998 $189,392,000.00 $818,343,259.26 -$38,873,518.52
1999 $149,421,500.00 $761,316,437.50 -$9,541,031.25
2000 $197,724,852.26 $681,728,024.88 -$33,387,993.78
2001 $250,817,005.22 $626,877,132.91 $239,466.05
2002 $243,654,843.35 $613,067,203.22 -$17,740,097.73
2003 $324,283,679.35 $603,729,008.07 $58,884,140.72
2004 $428,395,729.32 $798,286,556.39 $98,254,135.34
2005 $427,884,360.19 $833,672,448.66 $1,295,197.47
2006 $424,577,388.15 $768,383,766.63 -$33,874,939.54
2007 $592,422,208.81 $809,826,312.61 $58,983,765.84
*Int´l Trade Activity (Currency: U.S. $'s)
=============================
Year Imports Exports Total
1997 $46,800,000.00 $31,900,000.00 $78,700,000.00
1998 $51,000,000.00 $35,900,000.00 $86,900,000.00
1999 n/a $147,927,285.00
$147,927,285.00
2000 n/a $195,747,603.74
$195,747,603.74
2001 $1,813,697.04 $2,150,899.59 $3,964,596.63
2002 $2,101,178.50 $2,563,955.16 $4,665,133.66
2003 $27,419,837.00 $51,669,479.99 $79,089,316.99
2004 $39,625,230.02 $58,234,628.00 $97,859,858.02
2005 $31,626,103.00 $65,906,304.99 $97,532,407.99
2006 $35,381,847.01 $75,709,460.01 $111,091,307.02
Over the past 53 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
Importing 3500 Industrial
Machinery & Equipment
Importing 3552 Textile
machines, and parts and attachments,
Manufacturing 2200 Textile
Mill Products
Manufacturing 2211 Broad
woven fabrics, cotton
Manufacturing 2221 Broad
woven fabrics, manmade fibers and silk
Manufacturing 2262 Finish
Man Fiber/Silk Fabric
Manufacturing 2281 Yarn,
spun, of cotton, man-made fibers, and silk
Manufacturing 2282 Yarn
Mills
Manufacturing 2299 Textile
goods,
Manufacturing 2823 Manmade
fibers, cellulosic
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2905310000 Ethylene glycol (ethanediol)
Exporting 2907130000 Octylphenol, nonylphenol and their isomers; salts thereof
Exporting 2909410000 2, 2-oxydiethanol (diethylene glycol, digol)
Exporting 2909490000 Ether-alcohols and their halogenated, sulfonated, nitrated or
nitrosated derivatives not elsewhere specified or included
Exporting 3907910000 Other polyesters, unsaturated
Exporting 4806 Veg
parchment, greaseproof papers etc, rolls etc
Exporting 5402420000 Other yarns, untwisted or twisted, less than or equal to 50
turns per meter, of polyesters, partially oriented, not put up for retail sale
Exporting 5402430020 Single monofilament mulitfilament, untwisted or twisted, less
than 5 turns per meter, of polyesters, not put up for retail sale
Importing 2701 Coal;
briquettes, ovoids etc, mfr from coal
Importing 2701120010 Metallurgical bituminous coal not agglomerated
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Importer Rayon
Importer Titanium
oxides
Importer Rubber
machines
Importer Finishing
agents
Importer Textile
machinery
Manufacturer EG (ethylene
glycol)
Manufacturer Ethylene
Manufacturer Girls' ready-made
clothes
Manufacturer Boys' ready-made
clothes
Manufacturer Polyester
silks
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Africa
Exporting to Argentina
Exporting to Asia
Exporting to Australia
Exporting to Bangladesh
Exporting to Brazil
Exporting to Cambodia
Exporting to China
Exporting to Colombia
Exporting to Egypt
Exporting to El Salvador
Exporting to Europe
Exporting to Germany
Exporting to Greece
Exporting to Hong Kong
Exporting to India
Exporting to Indonesia
Exporting to Iran
Exporting to Italy
Exporting to Japan
Exporting to Jordan
Exporting to Macau
Exporting to Malaysia
Exporting to Mexico
Exporting to Middle East
Exporting to Morocco
Exporting to New Zealand
Exporting to North America
Exporting to Oceania
Exporting to Pakistan
Exporting to Papua New Guinea
Exporting to Peru
Exporting to Philippines
Exporting to Poland
Exporting to Portugal
Exporting to Saudi Arabia
Exporting to Singapore
Exporting to Slovakia
Exporting to South Africa
Exporting to South America
Exporting to South Korea
Exporting to Spain
Exporting to Sri Lanka
Exporting to Thailand
Exporting to Turkey
Exporting to UAE
Exporting to USA
Exporting to Vietnam
Exporting to Zimbabwe
Importing from Asia
Importing from Australia
Importing from Austria
Importing from Belgium
Importing from China
Importing from Europe
Importing from Finland
Importing from France
Importing from Germany
Importing from India
Importing from Indonesia
Importing from Japan
Importing from Malaysia
Importing from North America
Importing from Oceania
Importing from Russia
Importing from Singapore
Importing from Slovakia
Importing from Sri Lanka
Importing from Switzerland
Importing from USA
Importing from United Kingdom
Importing from Venezuela
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.68 |
|
UK Pound |
1 |
Rs.74.64 |
|
Euro |
1 |
Rs.62.58 |
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%)