MIRA INFORM
REPORT
|
Report Date : |
23.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
LG
INTERNATIONAL CORPORATION |
|
|
|
|
Registered Office : |
East Building, LG Twin Tower, 20, Yeouido-dong, Yeongdeungpo-gu, Seoul |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
26.11.1953 |
|
|
|
|
Com. Reg. No.: |
31.12.2010 |
|
|
|
|
Legal Form : |
Company Limited by shares. (Public Listed Company) |
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|
|
|
Line of Business : |
Trading Company and Manufacturer of Electronic appliance, machinery, chemicals, oil, fabrics and garments, etc |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
|
Payment
Behaviour : |
Regular |
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|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
South Korea |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
LG INTERNATIONAL CORPORATION
COMPANY ADDRESS
East Building, LG Twin Tower, 20, Yeouido-dong, Yeongdeungpo-gu, Seoul, South Korea.
PHONE: 82-2-3773-5114
FAX: 82-2-3773-5273
E-MAIL: jyleeg@lgi.co.kr
MANAGEMENT
President: Mr. Ha Young-Bong
SUMMARY
Incorporated on: 26th November, 1953.
Organization: Company Limited by shares. (Public Listed Company)
Paid-Up Capital: KRW 193,800 million
Business Category: Trading Company & Manufacturer.
Annual Turnover: KRW 6,069,894 million (Year ended 31-12-2010)
Employees: 627.
Main Dealing Banker: Korea Exchange Bank, South Korea.
Banking Relation: Good.
Company ADDRESS
Head Office:
East Building, LG Twin Tower, 20, Yeouido-dong, Yeongdeungpo-gu, Seoul, South Korea.
Overseas Branches: 46.
Local Sales Offices: 23 sales offices across the nation
Local Affiliated
Companies:
LG Business Group:-
LG Corporation,
South Korea.
[Paid-up Capital: KRW 879,359 million (as of 31-12-2009)
President: Mr. Koo Bon-Moo
Annual Sales: KRW 1,767,462 million (in 2009)
Net Profit: KRW 1,538,394 million (in 2009)
Total Assets: KRW 8,014,067 million (as of 31-12-2009)
Business Activities: Holding Company]
LG Electronics
Inc., South Korea.
[Paid-up Capital: KRW 809,169 million (as of 31-12-2009)
President: Mr. Nam Yong
Annual Sales: KRW 30,513,436 million (in 2009)
Net Profit: KRW 2,052,835 million (in 2009)
Total Assets: KRW 21,577,176 million (as of 31-12-2009)
Business Activities: Manufacturer of Mobile Phone ]
Korea Commercial
Vehicle Co. Ltd., South Korea.
[Paid-up Capital: KRW 1,400 million (as of 31-12-2009)
President: Mr. Park Kyung-Hwa
Annual Sales: KRW 49,130 million (in 2009)
Net Loss: KRW 6,131 million (in 2009)
Total Assets: KRW 39,186 million (as of 31-12-2009)
Business Activities: Manufacturer of Motor Vehicles ]
and 55 other companies
CORPORATE REGISTRATION NUMBER
110111-0004632
BUSINESS REGISTRATION NUMBER
116-81-18686
EXPORTER-IMPORTER REGISTRATION NUMBER
00673372
MANAGEMENT
Top Decision Maker: Mr. Moo Bon-Moo
President: Mr. Ha Young-Bong
Other Directors: 2.
Other Auditors: 2.
Koo Bon-Moo
Date of Birth: 10th February, 1945
Nationality: South Korean
Education: Graduated
from Cleveland State University in February 1974
(major: Master of Business
Administration)
Experience: Vice
Chairman of Lucky Gumseung Group from February 1975 to December 1995
Chairman of LG Group since February 1995
President of Serveone Co. Ltd. since January 2004
Experience in this line: 36 years
Ha Young-Bong
Date of Birth: 5th March, 1952
Nationality: South Korean
Education: Graduated
from Yonsei University in February 1977
(major: Philosophy)
Experience: President of the subject since March 2010
Experience in this line: 24 years
PAID-UP CAPITAL
KRW 193,800 million
MAIN SHAREHOLDERS
(As of 14-03-2011)
|
Name |
Amount
Provided |
Ratio
(%) |
|
|
(KRW’000) |
|
|
Koo Kyung-Mi & 4 affiliated persons |
39,631,125 |
20.45 |
|
Koo Bon-Jun |
5,829,145 |
3.01 |
|
Koo Bon-Gil |
5,200,450 |
2.68 |
|
Koo Bon-Moo |
3,198,950 |
1.65 |
DIRECTOR
Name: Mr. Heo Sung
Date of Birth: 26th September, 1959
Nationality: South Korean
OUTSIDE DIRECTORS
1) Name: Mr. Kang Joo-Myung
Date of Birth: 8th June, 1952
Nationality: South Korean
2) Name: Mr. Han Min
Date of Birth: 15th December, 1958
Nationality: South Korean
AUDITOR
Name: Mr. Choo Jun-Seok
Date of Birth: 6th December, 1947
Nationality: South Korean
Education: Graduated from Sogang University
(major: International Trade)
HISTORY
Established as Lucky Industry Co. Ltd. by former President, Koo In‑Hwoi on 26th November, 1953 with initially paid-up capital of KRW 1 million.
Company name changed to Bando Corporation in April 1956.
Merged Lucky Textile Co. Ltd. in February 1970.
Listed its stocks on Stock Market Division in Korea Exchange in January 1976.
Company name changed to Lucky Goldstar International Corp. in January 1984 and further to the present style in February 1995.
President, Lee Soo-Ho was elected in January 1997.
Most recent increase in capital was to KRW 340,000 million in December 1999.
Spun off its Mart Business Division in January 2002.
President, Keum Byung-Joo was elected in March 2004.
President, Lee Soo-Ho resigned in November 2005.
Spun off Fashion Division and established ‘LG Fashion Corp.’ in November 2006.
Decreased capital to KRW 193,800 million by allocating decreased amount as newly issued stock of ‘LG Fashion Corp.’ in November 2006.
President, Keum Byung-Koo resigned and Mr. Koo Bon-Jun was elected as a president in March 2007.
Current president Ha Young-Bong was elected in March 2010.
President Koo Bon-Jun resigned in September 2010.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Trading Company and Manufacturer.
Lines: Electronic appliance, machinery, chemicals, oil, fabrics and garments, etc.
Premises:
Head Office: Ground - 2,161 m2]
Floor Space - 23,920 m2] (Owned)
Employees: 627.
Commodities/Materials: Procured locally and imported from overseas countries.
Markets: South Korea and overseas countries.
Annual Turnover: KRW 5,932,841 million (Year ended 31-12-2008)
KRW 4,316,075 million (Year ended 31-12-2009)
KRW 6,069,894 million (Year ended 31-12-2010)
Terms/Sales: 40% in cash & 60% on 90 days credit.
Terms/Buying: 40% in cash & 60% on 90 days credit.
FINANCIAL INFORMATION
(See also latest financial statement attached)
Paid-Up Capital: KRW 193,800 million
Profit & Loss: Traded at a profitable angle.
Condition: Keeping in an active and good state.
Facilities: Rather actively using general banking facilities.
Payment: So far so good.
Commercial Morality: Good.
Banker: Korea Exchange Bank, South Korea.
Standing: Good.
GENERAL
Formerly known as Lucky Goldstar International Corp., LG International Corporation was established in November 1953 to take charge of general trading of the LG Business Group, which is the second largest conglomerate in South Korea.
In July 2004, the energy and distribution businesses of the LG Business Group were separated and GS Holdings Corp. was established as a holding company for those businesses. LG Business Group consists of 59 domestic affiliates and 230 overseas subsidiaries as of 2010.
The subject engages in various business areas such as energy & resources, plant, industrial materials and IT, etc.
It had operated fashion & apparel business with the brand names such as MAESTRO, HAZZY’S, DAKS, DANIEL HETCHER, ALBERO, etc. However, as its fashion & apparel business was spun off and it established LG Fashion Corp. in November 2006.
The subject has expanded its business network operating 23 branches and 7 subsidiaries across the world.
The subject acquired new projects such as the gas development in Vietnam and it concluded the long supply contracts for coil and petrochemical products. It also has made efforts to expand its business in Russia, China and the Middle East with active marketing activities.
Sales for the last few years are as follows:
· KRW 5,361,040 million in 2007
· KRW 5,932,841 million in 2008
· KRW 4,316,075 million in 2009
· KRW 6,069,894 million in 2010
No negative information about the subject was found in our database.
Considered good for its business undertakings.
REMARKS: Exchange Rate: US$1 = KRW 1,092.80 (As of 20-04-2011)
|
BALANCE SHEET |
|||
|
AS AT DECEMBER 31 |
|||
|
(Unit: KRW Million) |
|||
|
|
2008 |
2009 |
2010 |
|
ASSETS |
1,849,720 |
1,835,230 |
2,307,357 |
|
Current Assets |
844,154 |
736,725 |
923,318 |
|
Quick Assets |
737,310 |
630,675 |
705,166 |
|
Cash and Cash Equivalents |
137,133 |
110,641 |
124,189 |
|
Short-Term Bank Deposits |
40,000 |
- |
15,000 |
|
Trade Receivables |
303,477 |
481,953 |
547,268 |
|
(Allowance for Doubtful Accounts) |
-92,716 |
-93,276 |
-93,312 |
|
Short-Term Loans |
7,487 |
2,584 |
34 |
|
(Allowance for Doubtful Accounts) |
-6,812 |
-2 |
- |
|
Receivables |
153,497 |
71,123 |
46,214 |
|
(Allowance for Doubtful Accounts) |
-13,995 |
-32,174 |
-22,281 |
|
Accrued Income |
16,614 |
20,801 |
27,212 |
|
(Allowance for Doubtful Accounts) |
-6,524 |
-6,593 |
-9,076 |
|
Advance Payments |
33,594 |
23,549 |
20,531 |
|
(Allowance for Doubtful Accounts) |
-333 |
-232 |
-198 |
|
Prepaid Expenses |
7,381 |
6,323 |
7,985 |
|
Derivative Assets |
118,631 |
4,158 |
2,625 |
|
Deferred Income Tax Assets |
35,889 |
37,904 |
34,658 |
|
Other Quick Assets |
3,987 |
3,915 |
4,313 |
|
Inventories |
106,843 |
106,050 |
218,151 |
|
Merchandise |
83,244 |
58,666 |
163,910 |
|
(Allowance for Valuation of Inventories) |
-4,390 |
-122 |
-627 |
|
Goods in Transit |
27,974 |
47,504 |
54,869 |
|
Supplies |
14 |
2 |
- |
|
Non-Current Assets |
1,005,565 |
1,098,505 |
1,384,039 |
|
Investment Assets |
920,244 |
1,014,986 |
1,295,499 |
|
Long-Term Financial Instruments |
17 |
17 |
12 |
|
Long-Term Investment Securities (Available‑For-Sale Securities) |
21,138 |
26,713 |
25,856 |
|
Equity Method Securities |
559,190 |
601,331 |
878,424 |
|
Long-Term Loans |
180,579 |
239,814 |
303,281 |
|
(Allowance for Doubtful Accounts) |
-15,702 |
-31,145 |
-45,908 |
|
Other Investments |
175,019 |
178,254 |
133,833 |
|
Property & Equipment |
53,628 |
53,211 |
57,229 |
|
Land |
16,132 |
16,132 |
16,132 |
|
Construction in Progress |
4,439 |
7,448 |
5,477 |
|
Buildings and Auxiliary Facilities |
33,386 |
34,175 |
34,804 |
|
(Accumulated Depreciation) |
-9,356 |
-13,056 |
-13,919 |
|
[to be continued] |
|||
|
[continued] |
|||
|
Structures |
1,328 |
1,328 |
1,455 |
|
(Accumulated Depreciation) |
-269 |
-324 |
-380 |
|
Machinery and Equipment |
3,181 |
4,232 |
12,505 |
|
(Accumulated Depreciation) |
-1,812 |
-2,316 |
-3,608 |
|
Vehicles |
3,754 |
3,716 |
3,606 |
|
(Accumulated Depreciation) |
-1,018 |
-1,232 |
-1,324 |
|
Other Property Plant Equipment |
9,518 |
9,726 |
9,612 |
|
(Accumulated Depreciation) |
-5,655 |
-6,617 |
-7,132 |
|
Intangible Assets |
8,233 |
5,984 |
5,497 |
|
Goodwill |
680 |
- |
- |
|
Industrial Property Rights |
12 |
48 |
36 |
|
Other Intangible Assets |
7,540 |
5,936 |
5,460 |
|
Other Non-Current Assets |
23,459 |
24,322 |
25,812 |
|
Long-Term Prepaid Expenses |
3,926 |
3,680 |
3,435 |
|
Deposits Provided |
19,533 |
20,641 |
22,377 |
|
BALANCE SHEET |
|||
|
AS AT DECEMBER 31 |
|||
|
(Unit: KRW Million) |
|||
|
|
2008 |
2009 |
2010 |
|
LIABILITIES |
1,237,904 |
1,143,727 |
1,346,232 |
|
Current Liabilities |
770,549 |
700,476 |
862,591 |
|
Trade Payables |
272,657 |
397,900 |
587,936 |
|
Trade Payables |
6,819 |
6,052 |
45,308 |
|
Trade Payables-Foreign Currencies |
265,838 |
391,848 |
542,628 |
|
Short-Term Borrowings |
89,048 |
14,125 |
15,689 |
|
Short-Term Borrowings |
30,000 |
- |
- |
|
Short-Term Borrowings-Foreign Currencies |
59,048 |
14,125 |
15,689 |
|
Other Accounts Payable |
227,843 |
67,206 |
89,205 |
|
Other Accounts Payables |
146,469 |
32,400 |
46,180 |
|
Other Accounts Payables in Foreign Currencies |
81,370 |
34,800 |
43,017 |
|
Accrued Dividends |
3 |
5 |
7 |
|
Advance from Customers |
19,832 |
12,694 |
11,800 |
|
Withholdings |
1,116 |
3,563 |
4,236 |
|
Withholdings |
1,114 |
2,038 |
2,758 |
|
Guarantee Deposits Withhold |
2 |
1,524 |
1,478 |
|
Accrued Expenses |
28,152 |
9,569 |
13,002 |
|
Accrued Expenses |
5,628 |
5,384 |
5,341 |
|
Income Taxes Payable |
22,524 |
4,185 |
7,661 |
|
Current Portion of Long-Term Debt |
121,886 |
189,921 |
130,506 |
|
Current Portion of Bonds |
40,000 |
40,000 |
- |
|
(Discount on Bonds) |
- |
-6 |
- |
|
Current Portion of Long-Term Borrowings |
593 |
5,992 |
11,162 |
|
Current Portion of Long-Term Borrowings‑Foreign Currencies |
81,293 |
143,936 |
119,344 |
|
Unearned Income |
46 |
109 |
67 |
|
Derivative Liabilities |
9,965 |
5,386 |
10,145 |
|
Other Derivatives |
9,965 |
5,386 |
10,145 |
|
Non-Current Liabilities |
467,355 |
443,250 |
483,640 |
|
Bonds |
40,000 |
90,000 |
130,000 |
|
(Discount on Bonds) |
-77 |
-361 |
-365 |
|
Long-Term Borrowings |
407,835 |
334,971 |
306,567 |
|
Long-Term Borrowings |
35,619 |
37,893 |
30,184 |
|
Long-Term Borrowings-Foreign Currencies |
372,215 |
297,077 |
276,383 |
|
Long-Term Withholdings |
3,513 |
3,513 |
8,011 |
|
Provision for Severance and Retirement Benefits |
21,216 |
22,605 |
19,697 |
|
(Transfer to National Pension Fund) |
-178 |
-143 |
-109 |
|
(Deposits for Retirement and Severance Benefits) |
-16,343 |
-18,177 |
-19,401 |
|
[to be continued] |
|||
|
[continued] |
|||
|
Deferred Income Tax Liabilities |
11,192 |
10,844 |
39,241 |
|
Other Non-Current Liabilities |
197 |
- |
- |
|
STOCKHOLDERS’ EQUITY |
611,815 |
691,502 |
961,125 |
|
Capital Stock |
193,800 |
193,800 |
193,800 |
|
Common Stock |
193,800 |
193,800 |
193,800 |
|
Capital Surplus |
104,016 |
104,016 |
104,016 |
|
Capital Reserves |
64,838 |
64,838 |
64,838 |
|
Paid-In Capital in Excess of Par Value |
47,106 |
47,106 |
47,106 |
|
Other Capital Surplus |
17,732 |
17,732 |
17,732 |
|
Assets Revaluations Reserves |
39,178 |
39,178 |
39,178 |
|
Capital Adjustments |
-968 |
-968 |
-968 |
|
Treasury Stock |
-968 |
-968 |
-968 |
|
Accumulated
Other Comprehensive Income |
74,458 |
57,583 |
62,746 |
|
Gains on Valuation of Investment Securities (Long‑Term Investment Securities) |
79,451 |
66,113 |
70,527 |
|
Gains on Valuation of Available for Sale Securities |
1,437 |
1,785 |
1,582 |
|
Capital Change in Equity Method |
78,014 |
64,328 |
68,945 |
|
Losses on Valuation of Investment Securities (Long‑Term Investment Securities) |
-4,992 |
-8,530 |
-7,780 |
|
Negative Capital Change in Equity Method |
-4,992 |
-8,530 |
-7,780 |
|
Retained Earnings |
240,509 |
337,071 |
601,530 |
|
Legal Reserve |
23,349 |
24,122 |
24,895 |
|
Reserve for Financial Structure Improvement |
13,692 |
13,692 |
13,692 |
|
Reserve for Business Stabilization |
1,510 |
1,510 |
1,511 |
|
Unappropriated Retained Earnings (Deficit) |
201,956 |
297,745 |
561,431 |
|
TOTAL LIABILITIES & STOCKHOLDERS’
EQUITY |
|
|
|
|
PROFIT & LOSS ACCOUNT |
|||
|
FOR THE YEAR ENDED DECEMBER 31 |
|||
|
(Unit: KRW Million) |
|||
|
|
2008 |
2009 |
2010 |
|
NET SALES |
5,932,841 |
4,316,075 |
6,069,894 |
|
Sales of Merchandise |
5,812,663 |
4,209,272 |
5,926,281 |
|
Domestic Sales |
975,140 |
689,739 |
779,552 |
|
Exports |
4,837,523 |
3,519,533 |
5,146,729 |
|
Commission Income |
120,178 |
106,803 |
- |
|
Other Sales |
- |
- |
143,613 |
|
COST OF SALES |
5,452,455 |
3,880,817 |
5,651,065 |
|
Cost of Merchandise Sold |
5,452,455 |
3,880,817 |
5,651,065 |
|
Purchases During The Year |
5,452,455 |
3,880,817 |
5,651,065 |
|
GROSS PROFIT |
480,385 |
435,258 |
418,829 |
|
SELLING & ADMIN. EXPENSES |
320,584 |
273,715 |
296,153 |
|
Salaries and Wages |
41,489 |
51,413 |
52,722 |
|
Severance and Retirement Benefits |
5,720 |
5,378 |
5,457 |
|
Employee Benefits |
8,373 |
7,510 |
7,402 |
|
Training Expenses |
1,805 |
1,886 |
2,473 |
|
Traveling Expenses |
5,271 |
4,289 |
5,687 |
|
Communication Expenses |
1,461 |
1,272 |
1,420 |
|
Supplies |
367 |
191 |
210 |
|
Water, Light and Heating Expenses |
128 |
93 |
594 |
|
Taxes and Dues |
1,051 |
3,710 |
1,257 |
|
Rent |
4,038 |
2,555 |
2,890 |
|
Repairs and Maintenance Expenses |
478 |
612 |
648 |
|
Vehicle Maintenance Expenses |
606 |
534 |
522 |
|
Insurance Premium |
2,720 |
3,062 |
5,494 |
|
Commission Expenses |
44,645 |
34,636 |
29,446 |
|
Advertising Expenses |
11,740 |
8,733 |
9,445 |
|
Periodicals and Printing Expenses |
471 |
1,133 |
270 |
|
Sample Expenses |
353 |
126 |
143 |
|
Export Expenses |
601 |
278 |
247 |
|
Sales Commission |
31,199 |
32,820 |
44,151 |
|
Warehousing Expenses |
1,337 |
513 |
1,231 |
|
Packing Expenses |
3 |
6 |
20 |
|
Transportation Expenses |
103,977 |
83,109 |
96,698 |
|
Expenses of Allowance for Doubtful Accounts |
25,800 |
560 |
255 |
|
Depreciation |
3,687 |
6,016 |
3,808 |
|
Amortization of Intangible Assets |
3,593 |
3,160 |
2,774 |
|
[to be continued] |
|||
|
[continued] |
|||
|
Entertainment |
2,612 |
2,124 |
2,790 |
|
Others |
17,059 |
17,996 |
18,099 |
|
OPERATING INCOME |
159,801 |
161,542 |
122,675 |
|
NON-OPERATING INCOME |
876,792 |
482,208 |
600,637 |
|
Interest Income |
17,009 |
18,572 |
18,176 |
|
Dividend Income |
12,701 |
8,400 |
8,980 |
|
Commission Income |
2,097 |
1,613 |
1,616 |
|
Gains on Foreign Currencies Transaction |
350,435 |
218,290 |
196,088 |
|
Gains on Foreign Exchange Translation |
92,820 |
52,967 |
19,107 |
|
Gains on Disposal of Long-Term Investment Securities |
588 |
2,145 |
10,526 |
|
Gains on Disposition of Equity Method Securities |
- |
895 |
8,898 |
|
Others |
588 |
1,249 |
1,628 |
|
Gains on Disposition of Property and Equipment, Leased Assets |
2,419 |
53 |
61 |
|
Gains on Disposal of Intangible Assets |
1 |
- |
- |
|
Gains on Valuation of Equity Method Securities |
56,009 |
87,376 |
277,294 |
|
Gains on Derivatives |
336,923 |
83,612 |
52,661 |
|
Gains on Valuations of Derivatives |
138,428 |
10,675 |
13,168 |
|
Gains on Derivatives Transactions |
198,495 |
72,937 |
39,493 |
|
Other Non-Operating Revenues |
5,785 |
9,176 |
16,123 |
|
NON-OPERATING EXPENSES |
970,558 |
518,270 |
376,685 |
|
Interest Expenses |
25,495 |
27,559 |
20,840 |
|
Other Expenses of Allowance for Doubtful Accounts |
9,545 |
21,273 |
377 |
|
Losses on Disposal of Short-Term Investment Assets |
4 |
14 |
3 |
|
Losses on Disposal of Other Short-Term Investment Assets |
4 |
14 |
3 |
|
Losses on Foreign Currencies Transaction |
457,341 |
212,754 |
191,527 |
|
Losses on Foreign Exchange Translation |
119,612 |
35,067 |
13,540 |
|
Donations |
1,129 |
1,579 |
2,787 |
|
Losses on Disposition of Investment Assets |
- |
658 |
2 |
|
Losses on Disposition of Property and Equipment |
23 |
9 |
14 |
|
Losses on Disposal of Trade Receivables |
32,277 |
14,581 |
11,515 |
|
Losses on Valuation of Equity Method Securities |
30,291 |
43,406 |
70,538 |
|
Impairment Losses on Investment Securities (Long‑Term Investment Securities) |
- |
- |
785 |
|
Others |
- |
- |
785 |
|
[to be continued] |
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|
|
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|
[continued] |
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|
|
|||
|
Losses on Derivatives |
294,137 |
157,714 |
60,116 |
|
Losses on Valuations of Derivatives |
137,076 |
10,243 |
15,052 |
|
Losses on Derivatives Transactions |
157,060 |
147,471 |
45,064 |
|
Other Non-Operating Expenses |
698 |
3,651 |
4,634 |
|
(ONGOING
BUSINESS) INCOME OR LOSS BEFORE INCOME TAXES EXPENSES |
|
|
|
|
INCOME TAXES
EXPENSES (FOR ONGOING BUSINESS INCOME OR LOSS) |
|
|
|
|
NET INCOME
(NET LOSS) FOR THE YEAR |
51,069 |
104,294 |
287,878 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.30 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.