MIRA
INFORM REPORT
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Report Date : |
11.07.2012 |
IDENTIFICATION DETAILS
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Name : |
ZHEJIANG HENGDA INDUSTRIAL GROUP CO., LTD |
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Registered Office : |
Haitang Rd, Xinjie Town, Xiaoshan Dist, Hangzhou City, Zhejiang, Zip Code 311217 |
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Country : |
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Date of Incorporation : |
13.08.2003 |
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Com. Reg. No.: |
330181000140915 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
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No. of Employees : |
50 |
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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China |
A2 |
A2 |
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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 |
Company
name
Zhejiang Hengda Industrial Group Co., Ltd
Currency in this report is Chinese Yuan unless otherwise stated.
Exchange Rate: 1 USD=6.37 Chinese Yuan
"--"in this report indicates "unavailable" due to insufficient information or "no comments"
ORDER
INFORMATION
|
name |
Zhejiang Hengda Industrial Group Co Ltd. |
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address |
No. 537, Haitang Road, Xinjie Town Xiaoshan District Hangzhou |
Note:
The given address is similar to subject’s registered
address. However, subject’s operation address is as listed in the report.
EXECUTIVE
SUMMARY
|
DATE OF establishment |
Aug.13th, 2003 |
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Aic Registration No. |
330181000140915 |
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REGISTERED LEGAL FORM |
limited liabilities
company |
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REGISTERED CAPITAL |
120,000,000.00 |
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main BUSINESS |
enterprise investment and grouP management |
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employees |
50 |
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import and export permits |
yes |
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EXCHANGE RATE |
1 Usd=6.37CNY (JUL.9rd, 2012) |
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Registered Address |
Haitang Rd, Xinjie Town, Xiaoshan Dist, Hangzhou City, Zhejiang |
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Zip Code |
311217 |
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Business Address |
18 FL, Tower B, Shanghui Mansion, No.185, Jincheng Rd, Xiaoshan Dist,
Hangzhou City, Zhejiang |
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Zip Code |
311202 |
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Telephone |
86 571 83681258 |
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Fax |
86 571 83739366 |
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SIC Code (China) |
7411 enterprise management organization |
REGISTRATION
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Name (Chinese) |
浙江恒达实业集团有限公司 |
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Name (English) |
Zhejiang Hengda Industrial Group Co., Ltd |
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Date of Establishment |
Aug.13th, 2003 |
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Registry |
Administration Bureau for Industry and Commerce
– Xiaoshan Dist, Hangzhou City |
|
Legal Representative |
Yu Jianguo |
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AIC Registration Number |
330181000140915 |
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Registered Legal Form |
limited liabilities company |
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Registered Capital |
120,000,000.00 |
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Operating Duration |
From Aug.13th, 2003 to Aug.12th, 2023 |
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Business Scope |
Industrial investment; Sales of metal materials,
building materials; Import and export of
commodities and technologies; Other activities that
needn’t approval by AIC |
Limited
liabilities co.
This form
of business in PR China is defined as a legal person. Its registered capital is
contributed jointly by at least two shareholders and no more than fifty.
Shareholders bear limited liability to the extent of shareholding, and the co.
is liable for its debts only to extent of its total assets. The characteristics
of this form of co. are as follows:
Upon
the establishment of the co., an investment certificate is issued to the each
of shareholders.
The
board of directors is comprised of three to thirteen members.
The minimum registered capital for a
co. is listed as follows:
-manufacturing
co. : RMB 500,000.00
-trading
&wholesaling co. : RMB 500,000.00
-retailing
co. : RMB 300,000.00
-consultancy
& service co. : RMB 100,000.00
Shareholders
may take their capital contributions in cash or by means of tangible assets or
intangible assets such as industrial property and non-patented technology.
Cash
contributed by all shareholders must account for at least 50% of the registered
capital while contribution by intangible assets must not exceed 20% of the
registered capital.
Existing
shareholders have pre-exemption right to purchase shares of the co. offered for
sale by the other shareholders and to subscribe for the newly increased
registered capital of the co.
REGISTRATION
INFO: AVAILABLE
FINANCIAL
REPORTS: AVAILABLE
FIELD
INVESTIGATION
1.
As a group company, subject does
no item operation business. It is only in charge of decision making, asset management,
affiliate subordination and other daily administration activities. Subject
group holds more than 10 affiliated companies, and it enjoys certain popularity
in the local industry.
2. Located in the southeast coast, being the capital city
of Hangzhou Province, Hangzhou is the largest city as well as the political,
economic and cultural center of the province. In 2011, the total foreign trade
output of the city was about 64 billion USD, increasing 22.2% y/y. The total
GDP was 701 billion CNY with the growth rate of more than 10%.
SHAREHOLDERS
AND SHARES
As indicated in the following table:
|
Shareholder |
Capital
Subscribed |
Percentage |
|
Yu Jianguo |
84,000,000.00 |
70% |
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Yu Hefen |
36,000,000.00 |
30% |
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Total |
120,000,000.00 |
100% |
|
Shareholder |
Way
of Investment |
Paid-up
Percentage |
|
Yu Jianguo |
--
|
100% |
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Yu Hefen |
-- |
100% |
AFFILIATE(S)
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Affiliate company name |
HANGZHOU HENGDA STEEL STRUCTURE INDUSTRY CO., LTD |
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Tel |
86 571 82998000 |
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Fax |
86 571 82998777 |
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Address |
Jingjiang Industrial Zone,
Xiaoshan, Hangzhou City, Zhejiang |
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Affiliate company name |
WUHU HENGDA STEEL STRUCTURE INDUSTRY CO., LTD |
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Tel |
86 553 8765333 |
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Fax |
86 553 8765003 |
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Address |
Wanzhi Machinery industrial park , Wuhu City, Anhui |
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Affiliate company name |
WUHU HENGDA SHEETING METAL CO., LTD |
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Tel |
86 553 8765155 |
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Fax |
86 553 8765409 |
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Address |
Machinery industrial park , Wuhu City, Anhui |
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Affiliate company name |
HANGZHOU HENGDA ENVIRONMENT
PROTECTION INDUSTRY CO. LTD |
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Tel |
86 571 82617638 |
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Fax |
86 571 82856921 |
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Address |
Economic and technological development zone, Xiaoshan Dist, Hangzhou |
MANAGEMENT
|
Name |
Yu Jianguo |
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Gender |
Male |
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Title |
Chairman |
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Date of birth |
May 28th, 1968 |
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Other position |
Deputy of the 14th NPC of Wuhu City; 10th,
11th, 12th CPCC member of Xiaoshan Dist, Hangzhou; chairman of the Zheshang Council;
vice chairman of Zhejiang Private economy research institution. |
NUMBER OF EMPLOYEES
Employees:
50
Management
Staff: 10
Recent
recruitment: Yes
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Job-hunting websites |
Job title |
Number |
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http://www.xshr.com/showJob.do?unitsId=15543 |
Technician |
2人 |
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http://www.xshr.com/showJob.do?jobId=193419&unitsId=15543 |
software
developer |
1人 |
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http://www.xshr.com/showJob.do?jobId=227283&unitsId=15543 |
Business assistant |
10人 |
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http://www.xshr.com/showJob.do?jobId=239265&unitsId=15543 |
Senior financial manager;
audit manager |
2 人 |
BANKERS INFORMATION
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Bank name |
Industrial and Commercial Bank of China –
Xiaoshan Dist, Hangzhou |
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Account No. (CNY) |
-- |
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Tel. |
86 571 82622854 |
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Comment |
The bank staff confirmed subject holds an account
in the above bank, but refused to disclose its account information. |
OFFICE FACILITIES
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Geographic Location |
18 FL, Tower B, Shanghui Mansion, No.185, Jincheng Rd, Xiaoshan Dist,
Hangzhou City, Zhejiang |
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Area |
300 square meters |
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Environment |
Commercial building |
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Traffic condition |
Convenient |
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Purpose |
Office |
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Property Ownership |
Rented |
WEBSITE
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Website |
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Operation status |
Operational |
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Copyright |
Subject |
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Language |
English; Chinese |
TRADEMARKS
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Total trademark |
47 (only the latest 3 are listed) |
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Registration No. |
6639283 |
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Registration date |
Apr.7th, 2008 |
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Image |
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Registration No. |
6639284 |
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Registration date |
Apr.7th, 2008 |
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Image |
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Registration No. |
6639286 |
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Registration date |
Apr.7th, 2008 |
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Image |
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PATENTS
After checking with the State Intellectual Office, no
patents of SC were found.
MAIN
PRODUCTS & SERVICES
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Main business |
enterprise
investment and group management |
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Products and services |
Subject is a large-sized comprehensive group
that covers industries of building, environment protection, real estate,
trading, IT etc. It has more than 10 affiliates and the sales network spreads
throughout the world. |
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Awards & Honors |
Top 100 enterprises of Hangzhou City; |
SALES
INFORMATION
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As a group company,
subject does no external commodity operation business. It is only in charge
of decision making and affiliated company management. It sells no goods or
technologies. |
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The above information was
confirmed by SC’s employee |
PURCHASE
INFORMATION
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Main Commodities Purchased |
Computer; software; office facilities |
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Number of Major Suppliers |
About 3 |
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Region |
Domestic:100 % Import: 0% |
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Major suppliers |
Traders etc. |
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Main Terms of Payment |
Local: Prompt payment; on
credit |
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Subject’s only purchases some office
facilities, computers, software etc. from local stores and supermarkets. |
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The above information was confirmed by SC’s employee |
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CREDIT
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Subject purchases no raw materials or equipments. It only purchases some office facilities from local stores and supermarkets. No payment behavior comment is provided in this report. |
LITIGATION
RECORDS
After checking
with China Court organization, the local court website and other major
searching websites, no litigation record related to SC in the latest three
years is found.
OTHER
ADVERSE MEDIA INFORMATION
N/A
MEDIA
INFORMATION
1. Baidu encyclopedia
information: http://baike.baidu.com/view/6079038.htm
2.introduction of subject: http://www.xsnet.cn/2009_subject/hengda/zjhd/1021608.shtml
3. introduction of
subject’s affiliates: http://www.steelwin.com/snews/view_content.php?id=3852
4.biding information published
by subject: http://roll.sohu.com/20111031/n323961183.shtml
FINANCE
According to subject’s staff, it does no sales business. Its income comes mainly from investments. From subject’s website, it is recorded that subject’s total asset is higher than 3 billion CNY.
Industry Ratios:
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2010
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Return on net
assets (%) |
5.00 |
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Return on total
assets (%) |
4.50 |
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Gross profit
margin (%) |
1.50 |
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Turnover of
total assets |
0.60 |
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Turnover of
current assets |
1.00 |
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Turnover days of
account receivable |
65.45 |
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Asset liability
ratio (%) |
60.00 |
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Current ratio |
1.13 |
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Quick ratio |
1.03 |
INDUSTRY
PROFILE
Industry
SIC
Code (China): 7411
enterprise management organization
Description:
headquarter activity including making important decision, managing and
coordinating the subsidiaries and affiliates.
Status Quo & Trend
In recent years, Chinese enterprise management
industry has been developing rapidly. As the business scale of enterprises
increasing, an organization is needed in order to manage and control its
production capacity, technology, developing strategy and regulations etc. The
efficiency of enterprise management organization would become more obvious.
More and more Chinese enterprises have established such organizations to manage
the whole enterprise group. However, Chinese enterprise management industry
still lags behind developed countries with low managing level and incomplete
function.
Industry Associations
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Name of association |
Membership of subject (Yes/No) |
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China metal materials circulation association |
No |
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China Building Materials Federation |
No |
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CBMCA |
No |
GENERAL
COMMENTS
Established in Aug. 2003 with the registered capital of 120 million CNY, subject is a large-sized group covering industries of building material, environment protection, real estate, trading, IT etc.
With long history, subject has
developed more than 10 affiliates and it enjoys certain popularity in the
industry.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.81 |
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UK Pound |
1 |
Rs.86.53 |
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Euro |
1 |
Rs.68.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.