MIRA
INFORM REPORT
|
Report Date : |
22.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
XIAMEN ITG GROUP CORP., LTD |
|
|
|
|
Registered Office : |
18 Fl, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2012/1st Quarter |
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|
|
|
Date of Incorporation : |
02.04.1993 |
|
|
|
|
Com. Reg. No.: |
350200100002504 |
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
Acting as commodity broker and agent |
|
|
|
|
No. of Employees : |
2966 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
|
Xiamen ITG Group Corp., Ltd. |
|
|
8-18 FL, International Trade Building, No.388, Hubin South Rd, Xiamen
City, Fujian Province |
|
|
361004 |
|
|
Tel : |
86 592 5161888 |
|
Fax: |
86 592 5160280 |
|
Website: |
|
Currency in this report is Chinese Yuan unless otherwise stated.
Exchange Rate: 1 USD=6.32 Chinese Yuan
"--"in this report indicates "unavailable" due to insufficient information or "no comments"
EXECUTIVE
SUMMARY
|
DATE OF establishment |
April 2nd, 1993 |
|
Aic Registration No. |
350200100002504 |
|
REGISTERED LEGAL FORM |
PUBLIc listed company |
|
REGISTERED CAPITAL |
1,330,835,888.00 CNY |
|
main BUSINESS |
|
|
SIC Code (China) |
6830 Acting as commodity broker and agent |
|
|
|
|
employees |
2966 |
|
import and export permits |
yes |
|
business scale |
Large |
|
operation trend |
Average |
|
TURNOVER |
45,631,395,000.00 (As of Dec.31st,
2011) |
|
net profit |
726,184,000.00 (As of Dec.31st,
2011) |
|
total assets |
21,215,065,000.00 (As
of Dec.31st, 2011) |
|
net worth |
5,159,230,000.00 (As
of Dec.31st, 2011) |
|
EXCHANGE RATE |
1 Usd=6.32CNY (MAY 21st, 2012) |
REGISTRATION
|
Name |
Xiamen ITG Group Corp., Ltd. |
|
AIC Registration Number |
350200100002504 |
|
Previous Registration Number |
155005439 |
|
Registered address |
18 Fl, International Trade Building, No.388, Hubin South Rd, Xiamen
City, Fujian Province |
|
Operation address |
8-18 Fl, International Trade Building, No.388, Hubin South Rd, Xiamen
City, Fujian Province |
|
Date of Establishment |
April 2nd, 1993 |
|
Registry |
Administration Bureau of Industry and Commerce –
Xiamen City |
|
Legal Representative |
He Fulong |
|
Registered Legal Form |
PUBLIC LISTED COMPANY |
|
Registered Capital |
1,330,835,888.00 CNY |
|
Operating Duration |
April 2nd, 1993 |
|
Changes in Registration |
1.
Dec 22nd, 1995 SC’s registered address was changed to 8-18 Fl, International Trade Building,
No.388, Hubin South Rd, Xiamen City, Fujian Province from 16-18 Fl, Haibin
Building, Xiamen City, Fujian Province. 2.
December, 2009 SC’s registered capital was increased from 496,485,998 CNY to
639,824,946 CNY. 3.
July, 2010 SC’s registered capital was increased to 1,023,719,914 CNY. 4.
July, 2011 SC’s registered capital was increased to 1,330,835,888 CNY. 5.
Aug 23rd, 2011 SC’s registered address was changed to the present address. |
|
Stock Exchange Listing |
|
|
Stock Exchange |
Shanghai Stock Exchange |
|
Date of Listing |
Oct 3rd, 1996 |
|
Stock Symbol |
600755 |
Public listed company
Public listed company: is a kind of
shares limited company whose stock can be sold and bought through the stock
exchange center.
This form of business in PR China is
defined as a legal person. Its registered capital is divided into shares of
equal par value and the co. raises capital by issuing share certificates by
promotion or by public offer. Shareholders bear limited liability to the extent
of shareholding, and the co. is liable for its debts only to the extent of its
total assets. The characteristics of the shares limited co. are as follows:
The establishment of the co. requires
at least five promoters and at least three of them must be PR- China controlled
legal persons. Natural person can not be allowed to serve as promoters.
The minimum registered capital of a co.
is RMB
The board of directors must consist of
an odd number of five to nineteen directors.
If the co. raises capital by public
offer, the promoters must not subscribe less than 35% of the total shares. the
promoters’ shares are restricted to transfer- within three years of the offer.
Directors can not transfer the shares they hold in the co. during their terms
of office.
A state-owned enterprise that is
restructured into a shares limited co. must comply with the conditions &
requirements specified under the law & administrative rule.
REGISTRATION INFO: AVAILABLE
FINANCIAL REPORTS: AVAILABLE
SHAREHOLDERS
AND SHARES
As indicated in the following table:
|
Shareholder |
Percentage |
|
XIAMEN ITG HOLDING CO.,LTD. |
30.28% |
|
Xiamen ITG Holding
Construction & Development Ltd. |
0.42% |
|
GF SECURITIES CO. LTD
CUSTOMER CREDIT TRANSACTIONS GUARANTEED SECURITY ACCOUNT |
0.39% |
|
HUATAI SECURITIES CO. LTD
CUSTOMER CREDIT TRANSACTIONS GUARANTEED SECURITY ACCOUNT |
0.36% |
|
DALIAN HUAXIN TRUST CO.
LTD – XINYIN NO. 1 STRUCTURED SECURITIES INVESTMENT COLLECTION CAPITAL TRUST |
0.29% |
|
YONGAN INSURANCE CO., |
0.29% |
|
AGRICULTURAL BANK OF CHINA
– NANFANG ZHONGZHENG 500 INDEX SECURITY INVESTMENT FUND |
0.19% |
|
INDUSTRIAL AND COMMERCIAL
BANK OF CHINA LIMITED – HUIFUTIAN SHANGZHENG COMPREHENSIVE INDEX SECURITY
INVESTMENT FUND |
0.16% |
|
INDUSTRIAL AND COMMERCIAL
BANK OF CHINA LIMITED – GUANGFA ZHONGZHENG 500 INDEX SECURITY INVESTMENT FUND |
0.14% |
|
Zhang Yu |
0.11% |
|
OTHER UNDISCLOSED
SHAREHOLDERS THROUGH THE STOCK EXCHANGE |
67.37% |
|
Total |
100% |
Background of major shareholder
|
Name |
XIAMEN ITG HOLDING CO.,LTD. |
|
Address |
38 Fl, International Trade Building, No.388,
Hubin South Rd, Xiamen City, Fujian Province |
|
Tel |
86 592 5830999 |
|
Main business |
Dealing with trade, real estate development,
property management, port logistics, electronic information high-tech
industry, foreign economic cooperation, cultural sports industry, etc. |
|
|
|
|
Name |
Xiamen ITG Holding Construction & Development
Ltd. |
|
Address |
43 Fl, International Trade Building, No.388,
Hubin South Rd, Xiamen City, Fujian Province |
|
Main business |
Real estate development. |
AFFILIATE(S)
|
Name |
XIAMEN KEERUN INDUSTRIAL CO. LTD |
|
Registration address |
International Trade Building, No.388, Hubin South Rd, Xiamen
City, Fujian Province |
|
Registration No. |
350200100009801 |
|
Percentage held by subject |
100% |
|
Main business |
Import and export trade. |
|
|
|
|
Name |
SHANGHAI KEERUN INDUSTRIAL CO. LTD |
|
Registration address |
No.3398, Dongchuan Rd, Pudong New Dist, Shanghai |
|
Registration No. |
310115000622892 |
|
Percentage held by subject |
100% |
|
Main business |
Import and export trade. |
|
|
|
|
Name |
CHENGDU KEERUN INVESTMENT CO. LTD |
|
Registration address |
No.57, Dongyu St, Jinjiang Dist, Chengdu City, Sichuan Province |
|
Registration No. |
510104000072766 |
|
Percentage held by subject |
100% |
|
Main business |
Import and export of goods and
technologies. |
|
|
|
|
Name |
XIAMEN KEERUN INFINITI AUTOMOBILE SALES
SERVICE CO. LTD |
|
Registration address |
No.1213, Maqing Rd, Haicang Dist, Xiamen City, Fujian Province |
|
Registration No. |
350200100002256 |
|
Percentage held by subject |
100% |
|
Main business |
Sales of automobiles, acting as an agent
of second-hand cars, etc. |
|
|
|
|
Name |
XIAMEN
INTERNATIONAL TRADE CUSTOMER BROKER CO. LTD |
|
Registration address |
Dongdu Hening Rd, Huli Dist, Xiamen City, Fujian Province |
|
Registration No. |
350200100012426 |
|
Percentage held by subject |
100% |
|
Main business |
Providing service of customs clearance,
inspection, distribution and information consultancy. |
MANAGEMENT
|
Name |
He Fulong |
|
Gender |
Male |
|
Title |
Chairman |
|
Education background |
Bachelor’s Degree |
|
|
|
|
Name |
Chen Jinming |
|
Gender |
Male |
|
Title |
President and vice chairman |
|
Education background |
Bachelor’s Degree |
|
|
|
|
Name |
Li Zhihuang |
|
Gender |
Male |
|
Title |
Chief financial officer |
|
Education background |
Postgraduate Degree. |
|
|
|
|
Name |
Zhou Renqian |
|
Gender |
Male |
|
Title |
Vice president, director. |
|
Education background |
University. |
|
|
|
|
Name |
Wang Yanhui |
|
Gender |
Female |
|
Title |
Director |
|
Education background |
Postgraduate Degree. |
|
|
|
|
Name |
Xiao Wei |
|
Gender |
Male |
|
Title |
Director |
|
Education background |
Doctor’s Degree. |
|
|
|
|
Name |
Chen Hanwen |
|
Gender |
Male |
|
Title |
Independent director. |
|
Education background |
Doctor’s Degree. |
|
|
|
|
Name |
Guo Zhenghe |
|
Gender |
Male |
|
Title |
Chairman of Supervisory Board |
|
Education background |
University. |
|
|
|
|
Name |
Huang Chaohui |
|
Gender |
Male |
|
Title |
Supervisor |
|
Education background |
Postgraduate Degree. |
|
|
|
|
Name |
Lu Zhengjian |
|
Gender |
Male |
|
Title |
Vice president |
|
Education background |
University. |
|
|
|
|
Name |
Li Yunshan |
|
Gender |
Male |
|
Title |
Vice president. |
|
Bachelor’s
Degree |
|
|
|
|
|
Name |
Xiong Zhizhou |
|
Gender |
Male |
|
Title |
Vice president |
|
Education background |
Bachelor’s Degree |
|
|
|
|
Name |
Chen Xiaohua |
|
Gender |
Female |
|
Title |
Vice president, Secretary of the Board. |
|
Education background |
Postgraduate Degree. |
BANKERS INFORMATION
SC’s bank information can’t be obtained after searching through all available channels.
OFFICE FACILITIES
|
Geographic Location |
8-18 Fl, International Trade Building, No.388, Hubin South Rd, Xiamen
City, Fujian Province |
|
Area |
15,000 square meters |
|
Environment and traffic |
Acceptable |
|
Property Ownership |
Self-owned |
TRADEMARKS
|
Total trademarks |
146 (only the latest 3 are listed) |
|
Registration No. |
8798274 |
|
Registration date |
Sep 3rd, 2010 |
|
Image |
|
|
|
|
|
Registration No. |
8635272 |
|
Registration date |
Sep 3rd, 2010 |
|
Image |
|
|
|
|
|
Registration No. |
8635353 |
|
Registration date |
Sep 3rd, 2010 |
|
Image |
|
PATENTS
After checking with the State Intellectual Office, no
patents of SC were found.
MAIN
PRODUCTS & SERVICES
|
Main business |
Acting as commodity broker and agent |
|
Products and services |
SC is a large-sized comprehensive
enterprise. Now the company has built
up three core businesses: Trade, Real Estate and Logistics. SC deals with
trade and logistics agent service of textiles, garments, cereal oil and
foodstuff, ferrous metals, non-ferrous metals, paper, feedstuff, coal,
vessel, chemical raw materials, tent, fitness equipment, etc. In the past
years, ITG Real Estate has developed a series of elaborate real estate
projects named after ITG in Xiamen area. ITG Real Estate is on the way to be
a forerunner in Xiamen real estate field and the regional core competitor by
providing high quality residential products and introducing advanced living
concepts. Port logistics is the rising pillar business of SC. Now the company
is among the China Top 100 logistics companies and China Top 100
International Cargo Transportation Agencies. Through port logistics, ITG
seeks cooperation with strategic partners and form a strong comprehensive
logistic service network. With the advantage of public wharf resources and
one-stop logistics service, the company strives to be a forerunner as third
party logistics in the West Strait Economic Zone and the backbone of wharf
industry in Xiamen area. |
SALES
INFORMATION
|
Local sales |
85% |
|
Regions |
All
over China |
|
Major domestic clients |
GUODIAN QUANZHOU
THERMOELECTRICITY CO. LTD; SHUI KOU SHAN NONFERROUS METALS LTD; FUJIAN SAN’AN
STEEL CO. LTD; TIANJIN JUNDA COAL CO. LTD; FUJIAN LIYUANSHENG INTL. TRADE CO.
LTD; TIANJIN BAILINXIN TRADE CO. LTD, etc. |
|
Payment terms |
Prompt payment; on credit |
|
Export |
15% |
|
Regions |
Hong
Kong, USA, Europe, etc. |
|
Major overseas clients |
FIRST RESOURCES (HK) DEVELOPMENT LIMITED,etc. |
|
Payment terms |
L/C, T/T |
|
As a public listed
company in the local industry, SC is engaged in many industries. Its sales channels
have been developed well. It has accumulated stable amount of customers. |
|
|
The above information was
confirmed by SC’s employee |
|
PURCHASE
INFORMATION
|
Main Commodities Purchased |
Ferrous metal, nonferrous metal, ships,
chemical products, etc. |
|
Region |
Local: 80% Import: 20% |
|
Number of Major Suppliers |
More than 10 |
|
Major suppliers |
PAN-CHINESE (HK) MINING CO.,LIMITED; HEBEI IRONSTEEL GROUP JIUJIANG WIRE
CO. LTD; SHANGHAI SHAGANG MATERIALS TRADE CO. LTD; SUZHOU CHANGWU TRADE CO.
LTD; HANGZHOU YIHE COTTON CO. LTD. |
|
Main Terms of Payment |
Local: Prompt payment; on
credit Overseas：L/C, T/T |
|
With long history, SC has fixed suppliers both
domestically and internationally. It has stable sources of goods. |
|
|
The above information was confirmed by SC’s
employee |
|
CREDIT
|
Name of supplier |
SHANGHAI SHAGANG
MATERIALS TRADE CO. LTD |
|
Main commodities and service supplied |
Steel plate, etc. |
|
Title of interviewee |
Sales staff. |
|
Telephone of Interviewee |
86
21 65164217 |
|
Cooperation |
Confirmed |
|
Payment comment |
Acceptable |
LITIGATION
RECORDS
|
Name of person subject to enforcement |
Xiamen
ITG Group Corp., Ltd. |
|
Court |
People’s Court of Gangza Dist, Nantong City. |
|
File date |
Mar 7th, 2011 |
|
File No. |
(2011) Gang Zhi Zi 00105 |
|
Amount |
780540.00 CNY |
|
Status |
Closed |
|
|
|
|
Name of person subject to enforcement |
Xiamen
ITG Group Corp., Ltd. |
|
Court |
Xiamen Intermediate People’s Court |
|
File date |
Oct 18th, 2007 |
|
File No. |
(2007) Xia Fa Zhi Zi 00370 |
|
Amount |
5534274.00 CNY |
|
Status |
Closed |
FINANCE
Balance Sheet (Unit: 1,000 Chinese Yuan):
|
|
2010 |
2011 |
2012/1st
Quarter |
|
Current assets |
|
|
|
|
Money capital |
1,338,478 |
1,293,870 |
1,374,645 |
|
Short-term investment |
38,958 |
23,572 |
39,498 |
|
Notes receivable |
884,442 |
677,980 |
441,079 |
|
Net ball of Account Receivable |
888,132 |
1,045,976 |
877,633 |
|
Payment in advance |
2,795,107 |
2,325,664 |
2,979,612 |
|
Money receivable margin |
614,150 |
550,177 |
654,044 |
|
Other Account Receivable |
223,981 |
315,411 |
360,992 |
|
Inventory |
10,692,704 |
12,142,411 |
13,145,860 |
|
Pledge receivable margin |
342,387 |
56,569 |
99,657 |
|
Interest receivable |
|
245 |
368 |
|
Other current assets |
7,730 |
78,000 |
117,200 |
|
Non-current assets due within one year |
14,503 |
13,648 |
21,464 |
|
Total current Assets |
17,840,572 |
18,523,523 |
20,112,052 |
|
Long-term investment |
|
|
|
|
Financial assets available for sale |
497,944 |
493,792 |
523,871 |
|
Long-term account receivable |
27,839 |
67,388 |
56,956 |
|
Long-term investment |
454,118 |
351,923 |
394,913 |
|
Investment property |
107,919 |
110,999 |
99,202 |
|
Net fixed assets |
1,012,357 |
1,064,275 |
1102237 |
|
Net Value of Fixed Assets |
1,012,357 |
1,064,275 |
1,102,237 |
|
Projects being constructed |
8,736 |
70,177 |
76,602 |
|
Total fixed assets |
1,021,093 |
1,134,452 |
1,178,839 |
|
Intangible assets and deferred assets |
|
|
|
|
Intangible assets |
264,653 |
306,617 |
304,822 |
|
Deferred assets |
84,526 |
171,420 |
187,329 |
|
Total intangible and deferred assets |
349,179 |
478,037 |
492,151 |
|
Goodwill |
15,768 |
20,830 |
20,830 |
|
Other long-term assets |
|
|
|
|
Long-term deferred assets |
25,539 |
34,121 |
31,654 |
|
Total assets |
20,339,971 |
21,215,065 |
22,910,468 |
|
Current liabilities |
|
|
|
|
Short-term loans |
4,653,102 |
6,018,562 |
7,153,336 |
|
Transaction financial liabilities |
36,088 |
25,657 |
7,703 |
|
Notes payable |
4,382,201 |
2,766,729 |
2,732,982 |
|
Account payable |
715,863 |
725,947 |
893,673 |
|
Deposit received |
1,850,389 |
2,774,376 |
3,088,776 |
|
Other accounts payable |
435,774 |
406,418 |
383,606 |
|
Wages payable |
106,353 |
121,907 |
85,193 |
|
Money payable margin |
678,147 |
515,226 |
695,466 |
|
Tax unpaid |
494,476 |
340,347 |
124,186 |
|
Pledge payable margin |
342,387 |
56,569 |
99,657 |
|
Interest payable |
23,793 |
35,683 |
27,931 |
|
Dividend payable |
160,000 |
224,393 |
224,393 |
|
L/T debt due in 1 year |
50,000 |
50,000 |
50,000 |
|
Other current liabilities |
1,006,235 |
14,159 |
15,468 |
|
Total current liabilities |
14,934,808 |
14,075,973 |
15,582,370 |
|
L/T liabilities |
|
|
|
|
L/T loans |
513,246 |
902,960 |
908,817 |
|
Special account payable |
345 |
1,279 |
1,619 |
|
Bonds payable |
|
793,400 |
794,000 |
|
L/T account payable |
8,927 |
15,978 |
15,225 |
|
Total L/T liabilities |
522,518 |
1,713,617 |
1,719,661 |
|
Deferred tax |
|
|
|
|
Deferred tax |
136,196 |
266,245 |
274,354 |
|
Total liabilities |
15,593,522 |
16,055,835 |
17,576,385 |
|
Owner’s interest |
|
|
|
|
Paid-up capital |
1,023,720 |
1,330,836 |
1,330,836 |
|
Contributed surplus |
1,605,072 |
1,181,853 |
1,184,631 |
|
Surplus reserves |
201,908 |
201,908 |
201,908 |
|
Foreign exchange balance |
-27,081 |
-42054 |
-42400 |
|
Undistributed profits |
1,484,848 |
1,923,582 |
2,027,437 |
|
Minority interest |
457,982 |
563,105 |
631,671 |
|
Total owner’s interest |
4,746,449 |
5,159,230 |
5,334,083 |
|
Liabilities and owner’s interest |
20,339,971 |
21,215,065 |
22,910,468 |
Income Statement
(Unit: 1,000 Chinese Yuan):
|
|
2010 |
2011 |
2012/1st
Quarter |
|
Main business income |
33,991,403 |
45,631,395 |
8,163,814 |
|
Main business cost |
32,125,288 |
43,180,064 |
7,630,541 |
|
Tax and associate charge |
310,982 |
482,029 |
62,606 |
|
Main business profit |
1,555,133 |
1,969,302 |
470,667 |
|
Other business profit |
|
|
|
|
Operation expenses |
742,825 |
880,104 |
163,347 |
|
- management expenses |
117,677 |
117,921 |
20,380 |
|
Financial expenses |
198,985 |
451,066 |
122,184 |
|
Loss from asset devaluation |
28,849 |
44,425 |
-14,930 |
|
Profit from fair value change |
68,986 |
-5,220 |
3,881 |
|
Operation profit |
535,783 |
470,566 |
183,567 |
|
Investment profit |
271,975 |
492,544 |
-2,793 |
|
Subsidy income |
|
|
|
|
Non business income |
46,388 |
58,545 |
4,955 |
|
- non business expenses |
15,181 |
13,507 |
2,852 |
|
Prior year income adjustment |
|
|
|
|
Total profit |
838,965 |
1,008,148 |
182,877 |
|
- income tax |
211,782 |
281,964 |
45,707 |
|
Minority stock holder’s interest |
101,629 |
185078 |
33,315 |
|
Net profit |
627,183 |
726,184 |
137,170 |
Important Ratios:
Major Financial Information
(Unit: 1,000 Chinese Yuan):
|
|
2010 |
2011 |
2012/1st
Quarter |
|
Main business income |
33,991,403 |
45,631,395 |
8,163,814 |
|
Total profit |
838,965 |
1,008,148 |
182,877 |
|
Net profit |
627,183 |
726,184 |
137,170 |
|
Total assets |
20,339,971 |
21,215,065 |
22,910,468 |
|
Total liabilities |
15,593,522 |
16,055,835 |
17,576,385 |
|
Total owner’s interest |
4,746,449 |
5,159,230 |
5,334,083 |
Analysis of financial indicator
Long-term solvency: average
Short-term solvency: below average
Asset security: average
Inventory status: poor
Capital turnover: poor
Debt recovery status: good
Profitability: poor
Return on assets (ROA): poor
Enterprise background: good
Payment records: good
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.68 |
|
UK Pound |
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.