MIRA INFORM REPORT
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Report Date : |
29.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
KUMHO HT INC. |
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Registered Office : |
200-15, Gurim-ri, Donghwa-myeon, Jangseong-gun, Jeollanam-do, Korea, Zip Code 515-862 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
15.07.1988 |
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Com. Reg. No.: |
409-81-07801 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Electric Lamps and Electric Bulbs |
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No. of Employees
: |
359 |
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 |
|
Status : |
Satisfactory |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
South Korea |
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 |
KUMHO HT INC. (Korean Company
Name : “(주)금호에이치티”) |
|
Registered Address |
200-15, Gurim-ri, Donghwa-myeon,
Jangseong-gun, Jeollanam-do, Korea |
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Zip Code |
515-862 |
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Tel |
+82-61-390-8000 |
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Fax |
+82-61-390-8100 |
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E-mail |
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Website |
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Trading Address |
200-15, Gurim-ri, Donghwa-myeon,
Jangseong-gun, Jeollanam-do, Korea |
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Tel |
+82-61-390-8000 |
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Fax |
+82-61-390-8100 |
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Type |
Export/Import |
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Industry |
Manufacture of Electric Lamps and Electric Bulbs |
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Main Business |
Automotive Lamp, LED, LED Module |
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Established (mm/dd/yyyy) |
07/15/1988 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Exterior automobile lighting(25172901) |
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Sell |
Lamps(39101600) |
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Sell |
Ultraviolet UV lamps(39101616) |
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Sell |
Halogen lamps(39101601) |
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Sell |
Interior automobile lighting(25173001) |
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Buy |
Miscellaneous hardware(31162800) |
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Buy |
Lamp components(39101800) |
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Buy |
Coating paints(31211504) |
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Buy |
Solder(23171509) |
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Buy |
Mechanical wire(31151800) |
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Buy |
Coil(30101900) |
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Buy |
Glass tubing(31231315) |
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Buy |
Resins(13111000) |
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Name |
Oh Hong-Sik |
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Address |
Suite 3-109, 466, Oksu-dong,
Seongdong-gu, Seoul, Korea |
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Date of Birth |
04/20/1948 |
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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) |
230,000,000,000 |
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Employees |
359 |
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Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation |
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Bank Details |
Korea Exchange Bank Gwangju Bank Shinhan Bank Hana Bank-Gwangju Branch |
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Corporate Registered No. |
205911-0000169 |
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Business Registered No. |
409-81-07801 |
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Permit & Licenses |
05/1999 ISO 9002 10/13/2000 UL mark 06/26/2001 ISO 9002 12/2002 ISO 9002 07/26/2009 ISO 14001 Int’l Trade No.: 164025 |
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Shareholder Position |
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Company History |
07/15/1988 Incorporated as KUMDONG BULB
INC. 03/20/1989 Registered as a Foreign Direct
Investment Corporation 07/09/2002 Changed company name to KUMHO HT Autonics INC. 07/21/2008 Changed company name to the present name 12/2008 Awarded US$ 3 Million Export Top
Prize 12/2009 Awarded US$ 5 Million Export Top
Prize |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Oh Hong-Sik |
Male |
Korean |
03/18/2011 |
|
Outside Director |
Mr. |
Sakurai Toshiharu |
Male |
Japanese |
03/18/2011 |
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Director |
Mr. |
Yookoyama Nobuyo |
Male |
Japanese |
09/29/2011 |
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Director |
Mr. |
Park Myoung-Koo |
Male |
Korean |
03/11/2009 |
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Outside Director |
Mr. |
Park Young-Koo |
Male |
Korean |
03/15/2010 |
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Auditor |
Mr. |
Shiokawa Hironaka |
Male |
Japanese |
06/30/2010 |
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Auditor |
Mr. |
Cho Seok-Rae |
Male |
Korean |
03/15/2010 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
69,192,878,125 |
47,413,380,915 |
7,104,543,727 |
|
|
2009 |
45,190,362,515 |
38,225,553,182 |
3,085,221,856 |
|
2008 |
35,384,347,026 |
33,817,787,854 |
3,620,890,814 |
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Authorized Capital(KRW) |
5,000,000,000 |
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Paid-Up Capital(KRW) |
2,300,000,000 |
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Total Issued Shares |
230,000 |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Total Assets |
47,413,380,915 |
38,225,553,182 |
33,817,787,854 |
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Current Assets |
33,859,844,560 |
27,178,761,860 |
24,293,302,546 |
|
-Quick Assets |
23,974,975,531 |
19,121,618,857 |
16,095,067,986 |
|
-Inventories |
9,884,869,029 |
8,057,143,003 |
8,198,234,560 |
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Fixed Assets |
13,553,536,355 |
11,046,791,322 |
9,524,485,308 |
|
-Investment |
1,421,214,341 |
2,082,186,218 |
1,654,157,900 |
|
-Tangibles |
12,117,625,764 |
8,959,707,182 |
7,855,049,913 |
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-Intangibles |
14,696,250 |
4,897,922 |
15,277,495 |
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Total Liabilities |
13,356,623,994 |
9,956,457,239 |
7,405,762,913 |
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Current Liabilities |
13,356,623,994 |
9,068,157,239 |
6,342,062,913 |
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Fixed Liabilities |
- |
888,300,000 |
1,063,700,000 |
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Capital Stock |
2,300,000,000 |
2,300,000,000 |
2,300,000,000 |
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Capital Surplus |
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|
|
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Profit Surplus |
32,921,790,524 |
26,507,246,797 |
24,112,024,941 |
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Capital Adjustment |
-1,165,033,603 |
-538,150,854 |
0 |
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Total Equity |
34,056,756,921 |
28,269,095,943 |
26,412,024,941 |
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Liab. & Shareholder’s Equity |
47,413,380,915 |
38,225,553,182 |
33,817,787,854 |
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Current Liabilities |
13,356,623,994 |
9,068,157,239 |
6,342,062,913 |
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Trade Payables |
2,591,280,083 |
2,475,064,436 |
1,258,631,143 |
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Short-Term Borrowings |
6,829,679,643 |
3,391,946,000 |
3,097,766,110 |
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Account Payables |
1,567,608,172 |
1,595,123,752 |
389,894,032 |
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Advance Receipts |
9,651,664 |
42,484,608 |
9,474,694 |
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Withholdings |
466,494,015 |
302,087,328 |
294,269,857 |
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VAT Withhold |
298,595,267 |
206,277,589 |
82,609,194 |
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Accrued Expenses |
11,657,778 |
8,687,919 |
18,035,723 |
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Advance Receipts-R&D |
213,400,000 |
53,760,000 |
- |
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Accrued Income Tax |
1,068,257,372 |
317,325,607 |
203,482,160 |
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Current Portion of Long-Term Debts |
300,000,000 |
675,400,000 |
987,900,000 |
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Fixed Liabilities |
- |
888,300,000 |
1,063,700,000 |
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Long-Term Borrowings |
- |
888,300,000 |
1,063,700,000 |
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Provision for Severance & Retirement |
1,784,463,057 |
1,208,449,168 |
1,507,220,924 |
Income
Statement
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|||
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Unit : Korean
Won |
As of
12/31/2010 |
As of
12/31/2009 |
As of
12/31/2008 |
|
Sales |
69,192,878,125 |
45,190,362,515 |
35,384,347,026 |
|
Cost of Sold Goods |
56,718,765,384 |
39,295,554,924 |
28,840,147,645 |
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Gross Profit |
12,474,112,741 |
5,894,807,591 |
6,544,199,381 |
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Selling & Admin. Expenses |
4,142,832,113 |
2,860,108,263 |
2,840,815,677 |
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Operating Income |
8,331,280,628 |
3,034,699,328 |
3,703,383,704 |
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Non-Operating Income |
1,210,237,296 |
1,286,418,257 |
1,596,580,844 |
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Non-Operating Expenses |
1,183,649,533 |
735,010,826 |
883,291,418 |
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Income Before Taxes |
8,357,868,391 |
3,586,106,759 |
4,416,673,130 |
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Income Taxes Expenses |
1,253,324,664 |
500,884,903 |
795,782,316 |
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Net Income |
7,104,543,727 |
3,085,221,856 |
3,620,890,814 |
Cash
Flows
|
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Cash Flows from Operating |
8,619,785,914 |
192,817,246 |
3,482,848,870 |
|
-Net Income |
7,104,543,727 |
3,085,221,856 |
3,620,890,814 |
|
-Exp. without Cash Outflow |
3,058,309,198 |
2,426,026,903 |
2,236,682,752 |
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-Sale without Cash Inflows |
-36,864,562 |
-47,249,063 |
-206,712,085 |
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-Changes in Asset/ & Liability |
-1,506,202,449 |
-5,271,182,450 |
-2,168,012,611 |
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Cash Flows from Investing |
-7,793,121,079 |
1,070,118,582 |
-4,021,124,961 |
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-Cash Inflow from Investing |
984,414,813 |
6,112,629,441 |
805,538,648 |
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-Cash Outflows for Investing |
-8,777,535,892 |
-5,042,510,859 |
-4,826,663,609 |
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Cash Flows from Financing |
1,591,499,615 |
-757,658,119 |
726,805,272 |
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-Cash Inflows from Financing |
3,545,199,615 |
920,241,881 |
2,272,205,272 |
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-Cash Outflows from Financing |
-1,953,700,000 |
-1,677,900,000 |
-1,545,400,000 |
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Increase/Decrease in Cash |
2,418,164,450 |
505,277,709 |
188,529,181 |
|
Cash at the Beginning of Year |
820,312,304 |
315,034,595 |
126,505,414 |
|
Cash at the End of Year |
3,238,476,754 |
820,312,304 |
315,034,595 |
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Main Products & Services |
Automotive Lamp, LED, LED Module |
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Competitors |
KP ELECTRIC CO., LTD. 1381, JUAN 1-DONG, NAM-GU, INCHEON, KOREA TEL:+82-32-862-2121 FAX:+82-32-862-2130 SKC LIGHTING CO., LTD. 81, SIGOK-DONG, DANGJIN-SI,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-355-6008~9 FAX:+82-41-355-6052 VISION X ASIA CO., LTD. 175-16, CHEONGCHEON 2-DONG, BUPYEONG-GU,
INCHEON, KOREA TEL:+82-32-515-4813 FAX:+82-32-515-4817 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KUMHO ELECTRIC, INC.(110111-0028541) LUMIMICROCO., LTD.(135811-0085019) KUMHO C&C CO., LTD.(KOREA) DONGKYUNG PRECISION CO.,
LTD.(110111-1791965) THE LIZ CO., LTD.(KOREA) SHANGHAI KUMHO LIGHTING CO., LTD.(CHINA) KUMHO ELECTRIC(SANGSUK) CO., LTD. KUMHO LIGHTING ELECTRIC (SHIMCHEON) CO.,
LTD.(CHINA) KUMHO ELECTRIC USA, INC. KUMHO ELECTRIC(H.K.), LIMITED KUMHO ELECTRIC JAPAN, INC. KUMSUNG INDUSTRIES CO., LTD.(KOREA) KUMHO I-NET CO., LTD.(110111-1966683) HARISON TOSHIBA LIGHTING(Japan) TOSHIBA CONSUMER MARKETING |
|
Cooperative Enterprise |
-Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) |
(Activity & Markets)
The Subject deals
with the companies in France, India, Japan and Netherlands.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
|
UK Pound |
1 |
Rs.77.86 |
|
Euro |
1 |
Rs.66.06 |
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.