MIRA INFORM REPORT
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Report Date : |
20.04.2012 |
IDENTIFICATION DETAILS
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Name : |
SAMWON CO., LTD. |
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Formerly Known As : |
SAMWON CO. |
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Registered Office : |
124, Dongcheon-dong,
Seo-gu, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
20.12.1999 |
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Com. Reg. No.: |
409-81-51253 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Cold Rolled, Drawn and Extruded Iron or Steel Products |
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No. of Employees
: |
26 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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Company
Name |
SAMWON CO., LTD. (Korean Company
Name : “(주)삼원종합상사”) |
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Registered Address |
124, Dongcheon-dong,
Seo-gu, |
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Zip Code |
502-881 |
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Tel |
+82-62-527-3419 |
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Fax |
+82-62-511-2208 |
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E-mail |
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Trading Address |
124, Dongcheon-dong,
Seo-gu, |
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Tel |
+82-62-527-3419 |
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Fax |
+82-62-511-2208 |
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Other Address |
880-11, Ok-dong,
Gwangsan-gu, |
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Other Address |
126, Songduck-ro, |
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Type |
Export/Import |
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Industry |
Manufacture of Cold Rolled, Drawn and Extruded Iron or Steel Products |
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Main Business |
Radiator, Cooler for Ships, Stainless Steel Products, Iron Scrap |
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Established (mm/dd/yyyy) |
12/20/1999 |
The Subject owns
the premises of registered HQ address.
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Steel(11101704) |
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Sell |
Pipe(40142100) |
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Sell |
Radiators(40101801) |
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Name |
Won Choong-Ryul |
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Address |
690-4, Jungheung-dong, Buk-gu, |
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Date of Birth |
11/22/1960 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
900,000,000 |
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Employees |
26 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Gwangju Bank-Yongbong Branch Industrial Bank of Korea-Pyungdong
Industrial Complex Branch |
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Corporate Registered No. |
200111-0109178 |
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Business Registered No. |
409-81-51253 |
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Permit & Licenses |
Int’l Trade No.: 15094722 |
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Shareholder Position |
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Company History |
05/1991 Established
as SAMWON CO.(Sole Proprietorship) 12/20/1999
Incorporated as the present name 12/15/2001
Moved to the present HQ address from 690-4, Jungheung-dong, Buk-gu, 12/29/2004
Increased capital to 250,000,000 KRW from 200,000,000KRW 12/24/2005
Increased capital to 300,000,000 KRW from 250,000,000 KRW 11/28/2007
Increased capital to 450,000,000 KRW from 300,000,000 KRW 12/20/2008
Increased capital to 600,000,000 KRW from 450,000,000 KRW 12/14/2010
Increased capital to 900,000,000 KRW from 600,000,000 KRW 11/10/2011
Moved to the present HQ address from 912-54, Dongnim-dong, Buk-gu, |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Won Choong-Ryul |
Male |
Korean |
12/20/1999 |
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Director & Supervisor |
Mr. |
Cheon Kyung-Soo |
Male |
Korean |
03/31/2005 |
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Auditor |
Mr. |
Won Choong-Kook |
Male |
Korean |
12/20/2002 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
43,055,063,140 |
11,763,807,336 |
-651,458,599 |
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2010 |
45,285,300,710 |
10,407,078,722 |
1,260,328,436 |
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2009 |
27,017,677,000 |
9,337,714,000 |
108,135,000 |
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2008 |
23,577,390,000 |
7,748,884,000 |
496,524,000 |
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2007 |
16,903,000,000 |
5,617,000,000 |
411,000,000 |
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2006 |
14,826,000,000 |
4,577,000,000 |
351,000,000 |
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2005 |
10,499,000,000 |
3,454,000,000 |
222,000,000 |
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Authorized Capital(KRW) |
800,000,000 |
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Paid-Up Capital(KRW) |
900,000,000 |
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Total Issues Shares |
180,000 |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Total Assets |
11,763,807,336 |
10,407,078,722 |
9,337,714,000 |
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Current Assets |
7,904,733,560 |
6,636,271,165 |
5,794,984,000 |
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-Quick Assets |
4,522,882,042 |
4,168,128,042 |
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-Inventories |
3,381,851,518 |
2,468,143,123 |
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Fixed Assets |
3,859,073,776 |
3,770,807,557 |
3,542,729,000 |
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-Investment |
802,810,973 |
592,609,918 |
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-Tangibles |
3,051,656,803 |
3,168,131,639 |
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-Intangibles |
4,606,000 |
10,066,000 |
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Total Liabilities |
8,052,178,463 |
5,666,961,564 |
6,126,576,000 |
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Current Liabilities |
6,397,178,463 |
4,587,661,564 |
3,050,956,000 |
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Fixed Liabilities |
1,655,000,000 |
1,079,300,000 |
3,075,620,000 |
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Capital Stock |
900,000,000 |
900,000,000 |
600,000,000 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
2,242,297,875 |
3,293,756,474 |
2,033,428,000 |
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Capital Adjustment |
569,330,998 |
546,360,684 |
577,710,000 |
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Total Equity |
3,711,628,873 |
4,740,117,158 |
3,211,138,000 |
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Liab. & Shareholder’s Equity |
11,763,807,336 |
10,407,078,722 |
9,337,714,000 |
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Current Liabilities |
6,397,178,463 |
4,587,661,564 |
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Trade Payables |
2,138,801,911 |
927,967,351 |
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Short-Term Borrowings |
3,692,481,696 |
2,841,069,882 |
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Account Payables |
53,114,792 |
140,266,335 |
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Withholding |
9,179,540 |
5,907,200 |
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Advance Receipts |
39,407,470 |
- |
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Accrued Expenses |
18,398,248 |
45,633,196 |
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Accrued Income Tax |
- |
268,657,600 |
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Current Portion of Long-Term Debts |
424,300,000 |
358,160,000 |
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Derivatives |
21,494,806 |
- |
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Fixed Liabilities |
1,655,000,000 |
1,079,300,000 |
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Debentures |
1,000,000,000 |
- |
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Long-Term Borrowings |
655,000,000 |
1,079,300,000 |
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Income
Statement
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Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Sales |
43,055,063,140 |
45,285,300,710 |
27,017,677,000 |
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Cost of Sold Goods |
40,563,150,400 |
40,594,334,658 |
24,258,834,000 |
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Gross Profit |
2,491,912,740 |
4,690,966,052 |
2,758,843,000 |
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Selling & Admin. Expenses |
2,872,114,967 |
2,794,760,641 |
2,458,755,000 |
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Operating Income |
-380,202,227 |
1,896,205,411 |
300,088,000 |
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Non-Operating Income |
565,530,697 |
560,425,687 |
3,075,620,000 |
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Non-Operating Expenses |
836,787,069 |
930,211,849 |
502,537,000 |
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Income Before Taxes |
-651,458,599 |
1,526,419,249 |
164,278,000 |
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Income Taxes Expenses |
- |
266,090,813 |
- |
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Net Income |
-651,458,599 |
1,260,328,436 |
108,135,000 |
Cash
Flows
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Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Cash Flows from Operating |
-1,205,912,271 |
1,043,097,730 |
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-Net Income |
-651,458,599 |
1,260,328,436 |
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-Exp. without Cash Outflow |
582,739,065 |
480,437,072 |
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-Revenue without Cash Inflows |
-226,699,037 |
-13,303,661 |
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-Changes in Asset/ & Liability |
-910,493,700 |
-684,364,117 |
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Cash Flows from Investing |
-242,104,713 |
-352,976,881 |
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-Cash Inflow from Investing |
312,936,364 |
816,095,613 |
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-Cash Outflows for Investing |
-555,041,077 |
-1,169,072,494 |
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Cash Flows from Financing |
1,093,251,814 |
-371,244,361 |
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-Cash Inflows from Financing |
12,300,683,530 |
12,303,711,299 |
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-Cash Outflows from Financing |
-11,207,431,716 |
-12,674,955,660 |
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Increase/Decrease in Cash |
-354,765,170 |
318,876,488 |
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Cash at the Beginning of Year |
374,999,383 |
56,122,895 |
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Cash at the End of Year |
20,234,213 |
374,999,383 |
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Main Products & Services |
Radiator, Cooler for Ships, Stainless Steel Products, Iron Scrap |
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Suppliers |
JMP CORPORATION |
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Customers |
POSCO(174611-0000741) |
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Competitors |
U-RIM RADIATOR MANUFACTURE CO., LTD. 61-28, ONGJEONG-RI, TONGJIN-EUP, GIMPO-SI, TEL:+82-31-988-6660 FAX:+82-31-988-6668 DAEYOO RADIATOR IND. CO., LTD. 604B-7, BANWOL INDUSTRIAL COMPLEX, 644,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, TEL:+82-31-494-4411 FAX:+82-31-494-9021 DAEHEUNG RADIATOR CO., LTD. 186-1, DEOKDO-RI, GWANGJEOK-MYEON,
YANGJU-SI, TEL:+82-31-855-7728 FAX:+82-31-855-0557 |
(Subsidiaries,
Joint-Venture & Affiliates)
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Affiliates |
SAMWON ENGINEERING CO., LTD.( |
(Activity &
Markets)
Not Available.
Not Available.
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.89 |
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|
1 |
Rs.83.18 |
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Euro |
1 |
Rs.68.06 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.