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MIRA
INFORM REPORT
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Report Date : |
06.02.2012 |
IDENTIFICATION DETAILS
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Name : |
HANGZHOU COGENERATION (HONG KONG) CO. LTD. |
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Registered Office : |
Unit 01A, 15/F., Low Block, Grand Millennium Plaza, 181 Queen’s Road Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
31.05.2005 |
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Com. Reg. No.: |
35682324 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Steel, strips, sheets, iron ore, etc. |
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No. of Employees : |
10. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaint |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
Company name
HANGZHOU COGENERATION
(HONG KONG) CO.
LTD.
Company ADDRESS
Unit 01A, 15/F., Low Block, Grand Millennium Plaza, 181 Queen’s Road
Central, Hong Kong.
PHONE: 2511 1698, 2167 8621
FAX: 2511 1813
MANAGEMENT
Managing Director: Mr. Jiang
Yuanqing
SUMMARY
Incorporated on: 31st
May, 2005.
Organization: Private
Limited Company.
Capital: Nominal: HK$5,000,000.00
Issued: HK$5,000,000.00
Business Category: Importer, Exporter and Wholesaler.
HSTC Group Turnover: RMB4,276,205,308.54 (Year ended 31-12-2010)
Employees:
10.
Main Dealing Banker: Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
company ADDRESS
Registered Head
Office:-
Unit 01A, 15/F., Low Block, Grand Millennium Plaza, 181 Queen’s Road
Central, Hong Kong.
Holding Company:-
Hangzhou Cogeneration Import & Export Co. Ltd., China.
Intermediate
Holding Company:-
Hangzhou Steam Turbine Co. Ltd. [HSTC], China.
Ultimate Holding
Company:-
Hangzhou Steam Turbine Power Group Co. Ltd., China.
Associated/Affiliated
Companies:-
HSTC Group of Companies
Beijing Shengxin Cogeneration Steel Co. Ltd., China.
C. G. S. (Hong Kong) Co. Ltd., Hong Kong. (Same address)
Guizhou Zhongcheng Concrete Co. Ltd., China.
Hangzhou Bohai Iron & Steel Co. Ltd., China.
Hangzhou Chinen Steam Turbine Power Co. Ltd., China.
Hangzhou Dongfeng Shipbuilding Co. Ltd., China.
Hangzhou Energy-Saving Technologies & Design Institute Ltd., China.
Hangzhou Guoneng Steam Turbine Engineering Co. Ltd., China.
Hangzhou Hangfa Electrical Equipment Co. Ltd., China.
Hangzhou Kaineng Forge Co. Ltd., China.
Hangzhou Nanhua Wood Packing Co. Ltd., China.
Hangzhou Pangtong Electronic Equipment Co. Ltd., China.
Hangzhou Steam Turbine Auxiliary Machine Co. Ltd., China.
Hangzhou Steam Turbine Casting Co. Ltd., China.
Hangzhou Steam Turbine Environmental Engineering Co. Ltd., China.
Hangzhou Steam Turbine Group Equipment System Engineering Co. Ltd.,
China.
Hangzhou Steam Turbine Machinery & Equipment Co. Ltd., China.
Hangzhou Steam Turbine Power Group Packaged Project Engineering Co.
Ltd., China.
Hangzhou Steam Turbine Power Sales Co. Ltd., China.
Hangzhou Tongneng Turbine Machinery Co. Ltd., China.
Hangzhou Zhongneng Steam Turbine Power Co. Ltd., China.
Ningbo Relian Iron & Steel Co. Ltd., China.
Shanghai Cogeneration Steel Trading Co. Ltd., China.
Singapore Cogeneration Steel Trading Co. Ltd., Singapore.
Tangshan Cogeneration Steel Trading Co. Ltd., China.
Tianjin Relian Coated Steel Co. Ltd., China.
Zhangjiagang Bonede Area Relian Iron & Steel Co. Ltd., China.
Zhejiang Hanglian Iron & Steel Co. Ltd., China.
Zhejiang Huayuan Steam Turbine Machinery Co. Ltd., China.
Zhejiang Steam Turbine Packaged Technology Development Co. Ltd., China.
Zhejiang Turbine Import & Export Co. Ltd., China.
etc.
BUSINESS REGISTRATION NUMBER
35682324
COMPANY FILE NUMBER
0974210
MANAGEMENT
Managing Director: Mr. Jiang
Yuanqing
CAPITAL
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares of
HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
SHAREHOLDER
(As per registry dated 31-05-2011)
|
Name |
|
No. of shares |
|
Hangzhou Cogeneration Import & Export Co. Ltd. 4/F., Tower 11, 167 Huan Cheng Bei Road, Hangzhou City, Zhejiang
Province, China. |
|
5,000,000 ======= |
DIRECTORS
(As per registry dated 27-06-2011)
|
Name (Nationality) |
Address |
|
JIANG Yuanshun |
Room 2-401, Building 37, Dong Yuan Xin Chun, Xiacheng District,
Hangzhou City, Zhejiang Province, China. |
|
JIANG Yuanqing |
4 Xingqiao Road, Xiacheng District, Hangzhou City, Zhejiang Province,
China. |
|
XU Jianyu |
Room 401, No. 62, Block 15, Xiahuinancun, Shangchengqu, Hangzhou City,
Zhejiang Province, China. |
|
LU Yonghong |
Room 206, Unit 10, Block 5, Weiyuanlong, Gongshu District, Hangzhou
City, Zhejiang Province, China. |
|
YUAN Wenjiong |
Room 401, No. 2 Lianxinglidonghang, Dahuajiedao, Shantou City,
Guangdong Province, China. |
SECRETARY
(As per registry dated 31-05-2011)
|
Name |
Address |
Co. No. |
|
Sky Well Consultants Ltd. |
Unit B, 17/F., Success Commercial Building, 245-251 Hennessy Road,
Wanchai, Hong Kong. |
0612124 |
HISTORY
The subject was incorporated on 31st May, 2005 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of C. G. S. (Hong
Kong) International Trading Co. Ltd., name changed to the present style on
24th August, 2005.
Formerly the subject was located at Room 6509, 65/F., The Center,
99 Queen’s Road Central, Hong Kong, moved to Unit 13, 19/F., COSCO Tower,
Grand Millennium Plaza, 183 Queen’s Road Central, Hong Kong in December 2007;
and further to the present address with effect from 1st September, 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Steel,
strips, sheets, iron ore, etc.
Employees: 10.
Commodities Imported: India, other Asian countries, Europe, Americas, etc.
Markets: China,
Japan, other Asian countries, etc.
HSTC Group Turnover: RMB3,319,171,377.40 (Year
ended 31-12-2008)
RMB3,586,010,243.78 (Year ended 31-12-2009)
RMB4,276,205,308.54 (Year ended 31-12-2010)
Terms/Sales:
L/C or as per
contracted.
Terms/Buying: L/C,
T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$5,000,000.00 (Divided into 5,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$5,000,000.00
Mortgage or Charge (since December
2006): (See attachment)
HSTC Group Net Profit Attributable to
Shareholders of the Listed Company:-
RMB573,649,026.96 (Year ended 31-12-2008)
RMB583,517,590.81 (Year ended 31-12-2009)
RMB680,184,677.22 (Year ended 31-12-2010)
Profit or Loss: Business is profitable.
Condition:
Keeping in an
active condition.
Facilities: Making very active use of general banking
facilities.
Payment:
Met trade commitments
as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
Bank of Communications Co. Ltd.,
Hong Kong Branch.
Fortis Bank, Hong Kong Branch.
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
DBS Bank Ltd., Hong Kong Branch.
CITIC Bank International Ltd.,
Hong Kong.
BNP Paribas, Hong Kong Branch.
Wing Lung Bank Ltd., Hong Kong.
China Construction Bank Corporation,
Hong Kong Branch.
Standing:
Normal.
GENERAL
Hangzhou Cogeneration (Hong Kong) Co. Ltd. is a wholly-owned subsidiary
of Hangzhou Cogeneration Import & Export Co. Ltd. [HCIEC] which is a
China-based firm. In turn, HCIEC is a
subsidiary of Hangzhou Steam Turbine Co. Ltd. [HSTC] which is a listed firm in
Shenzhen Special Economic Zone, China.
HSTC is 63.64%-owned by Hangzhou Steam Turbine Power Group Co. Ltd.
[HSTPG], also a China-based firm.
Since 1988, HSTPG has ranked the top three in the integrated benefit
indexes in the same trade domestically.
In 2005, it was listed in the top 500 enterprises in China. It is also a public listed company in
Shenzhen B Share Market. In 2006, its
sale turnover was as high as RMB7 billion Yuan.
HSTPG is controlled by Hangzhou State-owned Assets Administrative
Committee which is a government organization belongs to the Hangzhou City
Government.
The subject is trading in iron and steel, steel strips, steel sheets,
iron ore, etc. Commodities are imported
from India, other Asian countries, Europe, South America, etc. Prime markets are China, Japan and other
Asian countries. It is also responsible
for acquiring commodities for HSTPG and HSTC.
Founded in October 1997 and with a registered capital of RMB100 million
Yuan, HCIEC is a state-owned holding company under the jurisdiction of HSTPG. Since 1988, HSTPG has ranked the top three in
the integrated benefit indexes in the same trade domestically; in 2005, it was
listed in the top 500 enterprises in China.
HCIEC is trading in iron and steel raw materials, semi-finished products
and finished products. Now its main
business includes three main parts: exporting, importing and domestic trading.
In 2004, HCIEC was conferred the title of Hangzhou Municipal Advanced
Tax Payment Hundred-Strongest Enterprises.
From 2004 to 2009, it had been granted successively the honour title of
winning award unit of “Gold Dragon Reward” of Foreign Trade Import & Export
by Hangzhou City; in 2006, HCIEC was appraised as “the First Batch of
Law-abiding and Credit Import & Export Enterprises in the Whole Province”
by Zhejiang Province, China.
Since 2004, HCIEC has actively opened up international market and
brought about extraordinary development in export business. HCIEC’s steel products export business has
extended to countries and areas as Korea, Taiwan, Vietnam, Thailand, the
Philippines, Singapore, Indonesia, the Middle East, Australia, Europe, America
etc. The import business is HCIEC’s
traditional core business. HCIEC now
keeps frequent business contacts with countries and areas around the world as
Russia, Ukraine, South Africa, Turkey, India, Brazil and Europe, etc. Especially in 2005, HCIEC opened up its
import business of iron ore, mill scale, nickel ore and established stable
supply channels in India, Australia, Indonesia and South America. HCIEC also has a significant share in the
domestic market, its main customers extend all over the provinces and
municipalities around China as Zhejiang, Shanghai, Jiangsu, Shandong, Tianjin,
Beijing, Sichuan, Guangdong, Fujian, etc. HCIEC’s outstanding commercial reputation
enables it to keep better business relationships with many steel mills,
distributors, and end users.
HCIEC has an outstanding competitive superiority in respect of capital
strength and banking credit. Its credit facility
has reached RMB620 million in Industrial and Commercial Bank of China, China
Construction Bank, Agricultural Bank of China, China Merchants Bank, China Ever
Bright Bank, China Minsheng Bank and Shanghai Pudong Development Bank, etc.
The credit facility of the subject is US$300 million in United Overseas
Bank, De Nederlandsche Bank and Communication Bank of Hong Kong Special
Administrative Region.
HSTC is principally engaged in the design, manufacture and sale of
industrial steam turbines and related auxiliaries and components. This company offers its products under two
categories: industrial steam turbines and power‑generating steam
turbines, which are used in the fields of petroleum, chemical industry,
electricity power, metallurgy, construction material and light textile. HSTC’s impulse turbines include condensing
turbines, extraction condensing turbines and backpressure turbines, while its
reaction turbines include condensing turbines, extraction condensing turbines,
multi‑stage backpressure turbines and extraction backpressure
turbines. It distributes its products
within China’s domestic market and to overseas markets.
HCIEC has set up the following main departments:-
·
Import and Export Department 1
·
Import and Export Department 2
·
Import and Export Department 3
·
Import and Export Department 5
·
Overseas Department
·
Integrated Department
·
Steel Strip Department
The General Manager of HCIEC is Mr. Jiang Yuanqing, Deputy General
Manager is Mr. Xu Jianyu, and Executive Vice Manager is Mr. Jiang
Yuanshun. All of them are also directors
of the subject.
Under the leadership of HSTPG, HCIEC is exerting its strength for the
challenge of sales income over RMB16,500 million Yuan with a total profit over
RMB260 million Yuan in 2010.
In 2007, the sales of the subject amounted HK$3,062 million and the
profit was HK$37.31 million. In 2008,
its sales turnover was HK$5,841 million, profit was HK$49.45 million. In 2009, the sales revenue was HK$7,469
million and the profit was HK$46.34 million.
However, no sales turnover was issued in 2010.
The subject is fully supported by HCIEC.
On the whole, in view of the background and parentage of the subject,
consider it good for normal business engagements.
REMARKS
Property information of the company:-
Property Location: Room
1501A on 15/F. of Low Block, Grand Millennium Plaza, 181-183 Queen’s Road
Central & 33 Wing Lok Street, Hong Kong.
Owner: Hangzhou Cogeneration (Hong
Kong) Co. Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
31-03-2010 |
- |
Bank of Communications Co. Ltd., Hong Kong Branch. |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
(Since December 2006)
|
Date |
Particulars |
Amount |
|
28-12-2006 |
Instrument: Deed of Indemnity, Charge Over Deposit
and Set-Off Property: By way of Fixed Charge to the Bank all the Company’s estate, right,
title, claim, benefit and interest to and in the Deposit (Account No.
02753202026700, 02753202026713, 02753220063143 and 02753293065422) and all
interest from time to time payable thereon and together with all title deeds
and documents relating thereto Mortgagee: Bank of Communications Co. Ltd.,
Hong Kong Branch. |
All actions, suits, proceedings, claims, demands, losses, damages,
costs, fees, expenses and/or liabilities |
|
30-08-2007 |
Instrument: Trade Finance Security Assignment Property: 1) As security for the
payment of all Secured Liabilities, (a) by way of absolute assignment and
agreement to assign all the present and future rights, title, interests and
benefits of the Company in and to the Assigned Assets; (b) by way of first
fixed charge and agreement to charge all the present and future rights,
title, interests and benefits of the Company in and to the Charged Assets;
(c) by way of trust, any of the Security Assets not effectively assigned
under the Assignment; and (d) by way of lien, all property of the Company 2) As security for the
Assignment Obligations, by way of set-off, any obligation owed by the Bank to
the Company Mortgagee: Standard Chartered Bank
(Hong Kong) Ltd., Hong Kong. |
1) Secured Liabilities |
|
05-09-2007 |
Instrument: Charge Over Deposits – CD 1 (06) Property: 1) By fixed Charge: all the Company’s rights in respect of (i)
the sum deposited by the Company; and (ii) all other sums in any currency
from time to time standing to the credit of the Company or the credit of any
other person for the Company’s benefit whether alone or jointly with others,
on any deposit account with the Bank or any other SCB Group Company including
additions to or renewals or replacements of such sum; and all interest from
time to time accruing or payable on the sums specified in (i) and (ii) above; 2) By assignment: all Deposits held with any SCB Group
Company Mortgagee: Standard Chartered Bank
(Hong Kong) Ltd., Hong Kong. |
To secure the payment or discharge of all moneys, obligations and
liabilities, whether actual or contingent at the date of the Charge or at any
time after the date thereof, due, owing or incurred by the Company to
Standard Chartered Bank (Hong Kong) Ltd. |
|
31-03-2010 |
Instrument: Mortgage Property: 111/116,009th parts or shares of and in The Remaining Portion of
Inland Lot No. 8911 (Unit 1501A on 15/F. of Low Block of Grand Millennium
Plaza, 181-183 Queen’s Road Central & 33 Wing Lok Street, Hong Kong.) Mortgagee: Bank of Communications Co. Ltd.,
Hong Kong Branch. |
All monies |
|
28-05-2010 |
Instrument: Security Over Deposits Property: A deposit with chargee in the amount of US$1,500,000 under Deposit A/C
No. 808-746697 whatever currency it may subsequently be denominated in, any
renewal of such deposit and the interest thereon together with any further monies
in any deposit account with the chargee at any of its offices Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Amount secured – (i) all monies in any currency owing by the Company
to the chargee at any time, actually or contingently, in any capacity, alone
or jointly with any other person; (ii) interest on such monies, to the date
on which the chargee receives payment, at the rates payable by the Company or
which would have been payable but for any circumstance which restricts payment
and (iii) all expenses of the chargee in perfecting or enforcing the charge |
|
19-07-2010 |
Instrument: Charge on Cash Deposit to secure
Liabilities of the Depositor Property: 1) By way of first fixed
charge and agreement to charge: the Deposit and all right, title and interest
of the Company 2) By way of set-off: any
sum standing to the credit of any one or more of the accounts of the Company
with the Bank Mortgagee: DBS Bank Ltd., Hong Kong Branch. |
All sums of money and liabilities |
|
26-07-2010 |
Instrument: Charge on Cash Deposit to secure
Liabilities of the Depositor Property: 1) By way of first fixed
charge and agreement to charge: the Deposit and all right, title and interest
of the Company 2) By way of set-off: any
sum standing to the credit of any one or more of the accounts of the Company
with the Bank Mortgagee: DBS Bank Ltd., Hong Kong Branch. |
All sums of money and liabilities |
|
07-09-2010 |
Instrument: Security Agreement over Bank Account Property: By way of a first fixed charge all of the Chargor’s rights in respect
of any amount standing to the credit of the Account Mortgagee: Standard Chartered Bank
(Hong Kong) Ltd., Hong Kong. |
To secure the payment and satisfaction of all present and future
obligations and liabilities |
|
07-09-2010 |
Instrument: Pledge over Deposit and Account
Management Agreement Property: The Pledgor grants a first priority pledge in favour of the Pledgee
over all the Pledged Assets and all related rights and interests Mortgagee: Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong. |
To secure the full and punctual payment of the Secured Indebtedness
and performance of its other obligations |
|
28-10-2010 |
Instrument: Charge on Cash Deposit Property: The Chargor, as beneficial owner, charges and agrees to charge to the
Bank by way of first fixed charge: (a) the Chargor’s entire right, title and
interest in and to the Deposit; and (b) all rights and benefits accruing to
or arising in connection with the Deposit Mortgagee: CITIC Bank International Ltd.,
Hong Kong. |
As a continuing security for the Secured Liabilities |
|
28-10-2010 |
Instrument: Trade Finance Security Assignment Property: The Borrower as beneficial owner: a) assigns and agrees to
assign absolutely to the Bank all the present and future rights, title,
interests and benefits of the Borrower in and to the following assets: (i)
Export Credits; (ii) Export Collection Bills; (iii) Sales Contracts; (iv)
Invoice Receivables; (v) Insurances; (vi) Trade Documents; and (vii) all
claims, remedies and proceeds in connection with any of the foregoing; and b) charges and agrees to
charge to the Bank by way of first fixed charge all the present and future
rights, title, interests and benefits of the Borrower in and to the following
assets: (i) the Goods together with their proceeds; and (ii) the Deposit; and c) pledges and agrees to
pledge to the Bank the Pledged Goods and the Trade Documents which are now or
may in the future be in the Bank’s possession Mortgagee: CITIC Bank International Ltd.,
Hong Kong. |
As security for the payment of all Secured Liabilities |
|
02-11-2010 |
Instrument: Pledge and Master Trust Receipt Property: The Company, as beneficial owner and as a continuing security for the payment
or discharge in full of the Secured Liabilities, hereby pledges and agrees to
pledge to the Bank all of its right, title and interest in and to the Pledged
Assets from time to time Mortgagee: BNP Paribas, Hong Kong Branch. |
Secured Liabilities means all present and future indebtedness,
obligations and liabilities |
|
02-11-2010 |
Instrument: Deed of Charge Property: As Security for the due payment and discharge of the Secured Amounts,
the Company hereby: (a) Charges to the Bank by way of floating charge all its
right, title and interest in and to all Goods; (b) Charges to the Bank by way
of first fixed charge all its right, title and interest in and to all Credit
Balances; (c) Assigns to the Bank by way of first fixed security all Contract
Rights and the benefit of the Security Interest and securities for the time
being held by the Company in respect of any such Contract Rights Mortgagee: BNP Paribas, Hong Kong Branch. |
To secure all present and future indebtedness, obligations and
liabilities |
|
28-02-2011 |
Instrument: Trade Finance Security Assignment Property: For good and valuable consideration, receipt of which is acknowledged,
the Borrower as beneficial owner and as security for the payment of all
Secured Liabilities Mortgagee: Wing Lung Bank Ltd., Hong Kong. |
To secure banking facilities |
|
28-02-2011 |
Instrument: Security Deed Property: All the Company’s right, title and interest from time to time in,
under and to the secured Property Mortgagee: Wing Lung Bank Ltd., Hong Kong. |
To secure banking facilities |
|
25-08-2011 |
Instrument: Assignment Property: All the rights, title, interest, benefits and entitlement in and to
the Contracts including but not limited to the right to receive or claim for all
amounts payable to the Assignor thereunder and all claims for compensation
and damages arising out of any breach of the same by the other parties
thereto from time to time Mortgagee: China Construction Bank Corporation,
Hong Kong Branch. |
To secure all of the obligations whether in respect of principal,
interest, fees, commission, charges or otherwise of the Assignor towards the
Bank under the Facility Letter |
|
20-10-2011 |
Instrument: Pledge over Deposit and Account
Management Agreement Property: First priority pledge in favour of the Pledgee over all the Pledged
Assets and all related rights and interests Mortgagee: Standard Chartered Bank
(Hong Kong) Ltd., Hong Kong. |
As a continuing security for the full and punctual payment of the Secured
Indebtedness and performance of its other obligations by the Pledgor in
accordance with the Charged Agreement |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.96 |
|
|
1 |
Rs.77.47 |
|
Euro |
1 |
Rs.64.39 |
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 |
|
-- |
NB |
New Business |
-- |
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.