MIRA
INFORM REPORT
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Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
HEBEI YUANZHENG PHARMACEUTICAL CO., LTD. |
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Registered Office : |
No.16, |
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Country : |
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Date of Incorporation : |
16.01.1993 |
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Com. Reg. No.: |
130000400001803 |
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Legal Form : |
Wholly Foreign-Owned
Enterprise |
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Line of Business : |
Manufacture and Sales of Veterinary Drugs. |
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No. of Employees : |
1000 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
China |
A2 |
A2 |
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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
Hebei Yuanzheng Pharmaceutical 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"
Notes:
1. The
English name provided in the order isn’t accurate. The accurate one is as
listed in the report.
2. The
address provided in the order is correct, but the road Wuqi Intersection has
been changed to Liuyuan Road.
3. The
telephone (031186861237) provided in the order belongs to SC’s Research &
Development Department. The fax (031186861276) is actually the telephone number
used by SC’s Domestic Trade Department.
4. The
contact person Mu Shusheng (Local Name: 穆书生)
is SC’s legal representative.
5. The
credit limit provided in the order is feasible.
6. Due
to recent intervention of government in the AIC systems, credit reports in some
regions could be impacted for a certain period. And for companies registered in
Hebei Province, financial information couldn’t be obtained.
EXECUTIVE
SUMMARY
|
DATE OF establishment |
JAN 16th, 1993 |
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Aic Registration No. |
130000400001803 |
|
REGISTERED LEGAL FORM |
wholly
foreign-owned enterprise |
|
REGISTERED CAPITAL |
22,000,000.00 |
|
main BUSINESS |
Manufacture and sales of veterinary drugs. |
|
tax no. |
-- |
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TURNOVER |
-- |
|
net profit |
-- |
|
total assets |
-- |
|
net worth |
-- |
|
employees |
1000 |
|
import and export permits |
yes |
|
EXCHANGE RATE |
1 Usd=6.37CNY (june 13th, 2012) |
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Registered Address |
No.16, Liuyuan Rd, Chang’an Dist, Shijiazhuang City, Hebei Province. |
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Zip Code |
050041 |
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Business Address |
No.16, Liuyuan Rd, Chang’an Dist, Shijiazhuang
City, Hebei Province. |
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Zip Code |
050041 |
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Telephone |
86 311 86861257/86861237/86861276 |
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Fax |
86 311 86868545 |
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SIC Code (China) |
2750 Manufacture of veterinary medicines |
REGISTRATION
|
Name (Chinese) |
河北远征药业有限公司 |
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Name (English) |
Hebei Yuanzheng Pharmaceutical Co., Ltd. |
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Date of Establishment |
Jan 16th, 1993 |
|
Registry |
Administration Bureau of Industry and Commerce –
Shijiazhuang City |
|
Legal Representative |
Mu Shusheng |
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AIC Registration Number |
130000400001803 |
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Previous Registration Number |
Qi Du Ji Zong Zi 100131 |
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Registered Legal Form |
wholly foreign-owned enterprise |
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Registered Capital |
22,000,000.00 |
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Operating Duration |
From Jan 16th, 1993 to Feb 1st,
2035 |
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Business Scope |
Manufacture of veterinary
medicines, feed medication additives, fertilizer, etc; Sales of self-produced
products. |
|
Changes in Registration |
No. |
Wholly foreign-owned enterprise
This
form of business in PR China is defined as a legal person. It is a limited co.
established within the territories of PR China with capital provided totally by
the foreign investors. More than one foreign investor may jointly invest in a
wholly foreign-owned enterprise. The investing party/parties solely exercise
management, reap profit and bear risks and liabilities by themselves. This form
of companies usually have a limited duration is extendible upon approval of
Examination and Approval Authorities.
REGISTRATION
INFO: AVAILABLE
FINANCIAL
REPORTS: AVAILABLE
FIELD
INVESTIGATION
1.
SC’s business income comes mainly
from veterinary medicines. It has many distributors and has established direct
cooperation relationship with many large-sized domestic cultivation groups. The
industry of veterinary medicines is an industry with fierce competition. There
are a lot of similar enterprises in the local place as SC’s competitors.
However, with long history and large business scale, SC has accumulated certain
amount of customers and enjoys certain popularity in the local industry.
Generally speaking, SC’s competitiveness is above average in the local place.
2.
Shijiazhuang
City, SC’s location is China’s important medicine and textile city. It is the
modern service base and biological industry base with developed industry and
commerce. The great market prospect and satisfactory investment environment
provide SC with great development space.
SHAREHOLDERS
AND SHARES
As
indicated in the following table:
|
Shareholder |
Capital
Subscribed |
Percentage |
|
SAMOA GALAXY CO. LTD (by literal translation) |
22,000,000.00 |
100% |
|
Total |
22,000,000.00 |
100% |
|
Shareholder |
Way
of Investment |
Paid-up
Percentage |
|
SAMOA GALAXY CO. LTD |
Capital
|
100% |
Background
of major shareholder
|
Name |
SAMOA GALAXY CO. LTD |
|
Address |
American Samoa |
AFFILIATE(S)
No affiliates of subject
company is found after checking.
MANAGEMENT
|
Name |
Mu Shusheng |
|
Gender |
Male |
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Title |
Executive director |
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Date of birth |
-- |
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Education |
University |
|
Working experience |
10 to five years. |
NUMBER OF EMPLOYEES
Employees:
1000
Management
Staff: 200
Recent
recruitment: Yes
|
Job-hunting websites |
Job title |
Number |
|
http://www.5ajob.com |
Reserved talent. |
Several |
|
http://qy.58.com |
Sales staff. |
8 |
BANKERS INFORMATION
|
Bank name |
Bank of China – Zhengding Sub-branch (Shijiazhuang) |
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Account No. (CNY) |
-- |
|
Tel. |
86 311 88011877 |
|
Comment |
The bank staff confirmed SC opened an account in
the bank, but refused to disclose any account information due to the bank
secrecy. |
OFFICE FACILITIES
|
Geographic Location |
No.16, Liuyuan Rd, Chang’an Dist, Shijiazhuang City, Hebei Province. |
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Area |
40,000 square meters |
|
Environment |
Suburb. |
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Traffic condition |
Convenient (located in the river side of Hutuo River.) |
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Purpose |
Office/Warehousing/Factory. |
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Property Ownership |
Self-owned. |
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Other address |
-- |
WEBSITE
|
Website |
http://www.hbyuanzheng.com/ |
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e-mail |
-- |
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Operation status |
Normal |
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Copyright |
Copyright reserved by SC. |
|
Language |
Chinese and English. |
TRADEMARKS
|
Total trademark |
73(only the latest 3 are listed) |
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Registration No. |
9694962 |
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Registration date |
July.8th, 2011 |
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Image |
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Registration No. |
9694955 |
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Registration date |
July.8th, 2011 |
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Image |
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Registration No. |
9694942 |
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Registration date |
July.8th, 2011 |
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Image |
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PATENTS
|
Total patents |
9 (only the latest 3 are listed) |
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Application No. |
200910074859.6 |
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Application date |
Jul.10th, 2009 |
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Patent name |
A preparation method of valnemulin coating granule. |
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Application No. |
200910074860.9 |
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Application date |
Nov.10th, 2009 |
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Patent name |
A preparation method of valnemulin and hydrochloride. |
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Application No. |
200830083931.8 |
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Application date |
Sep.17th, 2008 |
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Patent name |
A kind of packaging bag. |
MAIN
PRODUCTS & SERVICES
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Main business |
Manufacture and sales of veterinary
medicines. |
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Products and services |
SC mainly deals with manufacture and sales
of veterinary medicines. Its products include powder injection,
hydro-acupuncture, pulvis powder, tablet, granular formulation, premix,
disinfectant, oral liquid, bulk pharmaceutical chemicals, etc. |
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Picture of specific products |
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Annual production capacity |
It can produce 0.5 billon powder injection,
0.4 billon hydro-acupuncture, 60,000,000 bags of pulvis, 5,000,000.00 bottles
of disinfectant per year. |
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Plants and equipments |
SC introduced the most advanced automatic
powder injection packing equipments, automatic packing equipments, linkage
filling equipments, automatic powder packing equipments, etc. With 16 GMP
production lines, SC is now the largest veterinary medicines manufacture
enterprise with the most advanced equipments. |
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Awards & Honors |
“National High and New Technology
Enterprise” (June, 2002) “Enterprise Technology Center Identified by
Hebei Province” (December, 2006) “Veterinary Medicine Engineering Technology Center”
(2008) |
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Certificates / licenses |
ISO9001:2000 International Quality
Management System |
SALES
INFORMATION
|
Domestic sales |
50% |
|
Regions |
All
over China |
|
Major domestic clients |
SHANGHAI
MILK GROUP CO. LTD; HEFEI RENYUAN HUSBANDRY TECHNOLOGY CO. LTD, etc. |
|
Competitors |
HENAN MULONG VETERINARY
CO. LTD; JINAN AOLI ANIMAL MEDICINE CO. LTD; HENAN GUANDU VETERINARY MEDICINE
MANUFACTURE CO. LTD; SHANXI RUICHENG YABAO VETERINARY MEDICINE CO. LTD, etc. |
|
Payment terms |
Prompt payment; on credit |
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Export |
50% |
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Regions |
North
America, Europe, Southeast Asia, West Asia, Africa, Russia |
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Major overseas clients |
-- |
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Payment terms |
L/C, T/T |
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SC’s products are sold
both domestically and internationally. It has developed perfect sales network
so far. Its export volume has been the first in China for 5 years. |
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The above information was
confirmed by SC’s employee. |
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PURCHASE
INFORMATION
|
Main Commodities Purchased |
Automatic packaging equipments, linkage
filling equipments, etc. |
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Number of Major Suppliers |
About 5 |
|
Region |
Domestic:100 % |
|
Major suppliers |
SHANGHAI SHIHUA
STORAGE EQUIPMENT CO. LTD; CHANGZHOU LONGCHENG CHENGUANG MEDICAL MACHINERY
CO. LTD; SHIJIAZHUANG LIDE LONG PACKING PRODUCTS CO. LTD, etc. |
|
Main Terms of Payment |
Local: Prompt payment; on
credit |
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SC’s raw materials and equipments are all
purchased from domestic factories. According to SC’s staff, its suppliers are
mostly large-sized domestic enterprises and they have been cooperating well. |
|
|
The above information was confirmed by SC’s
employee. |
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CREDIT
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Name of supplier |
SHANGHAI
SHIHUA STRORAGE EQUIPMENTS CO. LTD |
|
Main commodities and service supplied |
Storage equipment. |
|
Interviewee |
Sales staff. |
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Telephone of Interviewee |
86 21 51085858 |
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Payment comment |
The investigated person confirmed that SC is
one of their clients and SC’s credit status is good. |
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Name of supplier |
CHANGZHOU
LONGCHENG CHENGUANG MEDICINE MACHINERY CO. LTD |
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Main commodities and service supplied |
Tablet machine. |
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Interviewee |
Mr. Huang (sales staff) |
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Telephone of Interviewee |
86 13706112290 |
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Payment comment |
The investigated person confirmed that SC is
one of their clients and SC’s credit status is good. |
LITIGATION RECORDS
|
Total records |
1 |
|
Name of person subject to enforcement |
Hebei Yuanzheng Pharmaceutical Co. Ltd. |
|
Court |
People’s Court of Pingqiao Dist (Xinyang City) |
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File date |
Oct 9th, 2009 |
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File No. |
(2009) Ping Fa Zhi Zi 00305 |
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Status |
Closed. |
OTHER
ADVERSE MEDIA INFORMATION
N/A
FINANCE
SC’s turnover of 2011 was
about 0.5 billion CNY.
Important Ratios:
|
|
2010 Industry Financial Indices (51*) |
|
Return on net
assets (%) |
14.97 |
|
Return on total
assets (%) |
10.20 |
|
Net profit
margin (%) |
16.77 |
|
Turnover of
total assets |
0.63 |
|
Turnover of
current assets |
0.97 |
|
Turnover days of
account receivable |
58.48 |
|
Inventory
turnover days |
93.19 |
|
Asset liability ratio
(%) |
31.53 |
|
Current ratio |
2.39 |
|
Quick ratio |
2.05 |
Analysis of financial
indicator
China
has been making much effort to renovate the veterinary medicine market. During the
first half of 2011, over 270 thousand veterinary medicine manufacture
enterprises, sales enterprises, medical establishments, livestock farms, etc
were inspect. During the inspectation, 2269 cases were found. The fake and
substandard veterinary medicines found worthed 11,420,000 CNY. The renovation
of veterinary medicine market is favorable to the healthy development of
veterinary market. This provides SC with fair market competition environment.
With many years’ history, SC is in leading position of domestic veterinary
market and its operation risk is low.
INDUSTRY
PROFILE
Industry
SIC Code (China): 2750 Manufacture of veterinary medicines
Description: Manufacture of
veterinary medicines that are used for animal disease prevention.
Status
Quo & Trend
China’s veterinary medicine products are at
the dominant position in domestic market and they are also sold to overseas
markets including North America, Europe, Southeast Asia, Africa, etc. China’s
veterinary medicine technology has achieved much progress in recent years. Many
of China’s independent-researched vaccines are at the leading position of the
world. These vaccines can effectively prevent and control animal diseases.
Veterinary medicine industry is closely related to animal products safety. The
government, society and consumers pay much attention to veterinary industry
which will promote development of the industry. As an industry with hopeful
future, China’s veterinary medicine industry will be developed fast in the
future 10 years.
Industry
Associations
|
Name of association |
Membership of subject (Yes/No) |
|
China Animal Health Products Association |
YES |
|
China
Veterinary Medicine Association |
YES |
|
China Animal Husbandry and Veterinary
Association |
YES |
|
China
Animal Agriculture Association |
YES |
GENERAL
COMMENTS
Established in January, 1993 with the
registered capital of 22 million CNY, SC is engaged in manufacture and sales of
veterinary medicines. With long history and large business scale, it enjoys
high popularity in the local industry. According to SC’s staff, SC has invested
huge amount of money to purchase advanced equipments. It has its own high-tech
veterinary research and development center constituted by 20 domestic and international
professionals. SC’s new product R & D capacity is in the leading position
of China.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
|
1 |
Rs.88.45 |
|
Euro |
1 |
Rs.71.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.