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Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
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Name : |
HSING-CHENG MACHINERY INDUSTRIAL CO., LTD. |
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Registered Office : |
No.20, |
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Country : |
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Date of Incorporation : |
06.07.1987 |
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Com. Reg. No.: |
22559269 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of textile and dyeing machinery |
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No. of Employees : |
About 30 employees |
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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 |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Taiwan |
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 |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist
economy with gradually decreasing government guidance of investment and foreign
trade. In keeping with this trend, some large, state-owned banks and industrial
firms have been privatized. Exports, led by electronics, machinery, and
petrochemicals have provided the primary impetus for economic development. This
heavy dependence on exports exposes the economy to fluctuations in world
demand. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20%
year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to
the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will
likely be less, according to most forecasters, because of softening global
demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging
population are major long-term challenges. Free trade agreements have
proliferated in East Asia over the past several years, but so far Taiwan has
been excluded from this greater economic integration largely because of its
diplomatic status with the exception of the landmark Economic Cooperation
Framework Agreement (ECFA) signed with China in June 2010. The MA
administration has said that the ECFA will serve as a stepping stone toward
trade pacts with other regional partners, and negotiations on a deal with
Singapore began this year. Follow-on components of ECFA, including deals on
trade in goods, services, and investment, have yet to be completed. Taiwan's
Total Fertility rate of just over one child per woman is among the lowest in
the world, raising the prospect of future labor shortages, falling domestic
demand, and declining tax revenues. Taiwan's population is aging quickly, with
the number of people over 65 accounting for 10.9% of the island's total
population as of 2011. The island runs a large trade surplus, and its foreign
reserves are the world's fourth largest, behind China, Japan, and Russia. Since
2005 China has overtaken the US to become Taiwan's second-largest source of
imports after Japan. China is also the island's number one destination for
foreign direct investment. Three financial memorandums of understanding,
covering banking, securities, and insurance, took effect in mid-January 2010,
opening the island to greater investments from the mainland's financial firms
and institutional investors, and providing new opportunities for Taiwan
financial firms to operate in China. Closer economic links with the mainland
bring greater opportunities for the Taiwan economy, but also poses new
challenges as the island becomes more economically dependent on China while
political differences remain unresolved.
Source : CIA
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Company Name: |
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Supplied Name: |
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Trading Address: |
No. 13, Jungshing 2nd St, Lin 18, Hsinhsing
Village, Luchu Siang, Taouan Hsein, Taiwan |
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Supplied Address: |
No 13 Jungshing 2nd St Lin 18 Hsinhsing
Village Luuchu Hsiang Taoyuan Hsien |
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Telephone Number: |
+886-3-323-8560 |
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Fax Number: |
+886-3-323-7610 |
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E-mail: |
Notes: It is introduced that the supplied name also belongs to subject; the
exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
Hsing-Cheng Machinery Industrial Co., Ltd. |
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Registered Address: |
No.20, Chung Hsing 2nd St., Lu-Chu Hsiang, Taoyuan County 33857, Taiwan
(R.O.C.) |
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Date of Foundation: |
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Registration Number: |
22559269 |
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Registry: |
MOEA Central Office |
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Registered Capital: |
NTD 28,000,000
(USD 935,200) (As of 2012.10, 1 NTD = 0.0334 USD) |
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Paid-up Capital: |
NTD 28,000,000 (USD 935,200) |
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Legal Representatives: |
Jiancheng Ye |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock
Exchange: |
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Date of Last
Annual Return: |
Subject was incorporated on
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Name |
Subscription Shares |
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Jiancheng Ye |
14,800 |
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Changing Ye |
1,500 |
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Zhihong Ye |
1,450 |
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Jinying Lv |
8,800 |
The information
above is that of subject’s major shareholders.
Related Companies
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1 |
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Name |
Hsing Cheng
Machinery Industrial (Thailand) Co. Ltd. |
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Address |
237/2 Moo 6, Soi
Petkasem 95, Petkasem Rd., Omnoi, Krathumban Samutsakorn, 74130, Thailand |
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Tel : |
+66-2-813-8229 |
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Fax : |
+66-2-813-8268 |
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E-mail : |
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2 |
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Name |
Jia Xing Li Hsin
Machinery Co., Ltd. |
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Address |
Xiuzhou
Industrial Zone Jiaxing Zhejiang Province China |
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Tel : |
+86-573-279-2799 |
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Fax : |
+86-573-279-4800 |
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E-mail : |
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Core
Management
Directors
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1 |
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Name |
Jiancheng Ye |
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Position |
Board Director |
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2 |
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Name |
Changing Ye |
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Position |
Director |
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3 |
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Name |
Zhihong Ying |
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Position |
Director |
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4 |
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Name |
Jinying Lv |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 30 Employees |
Offices
& Factories
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Headquarters |
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Add |
No. 13, Jungshing 2nd St, Lin 18, Hsinhsing Village, Luchu Siang,
Taouan Hsein, Taiwan |
Production
Information
l
Subject is engaged in manufacturing of textile and
dyeing machines, etc.
l
Subject obtained the certification of ISO 9002.
l
Subject has factories in Taiwan, mainland China and
Thailand for production.
Purchase
Information
l
The registered activities of subject:
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Business Code |
Details |
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Manufacture, processing, sales and maintenance of all kinds of machines, lathes, milling
machines and Hardware Components |
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Design, contract
and building of all kinds of mechanical engineering |
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Import and export business of the above items |
l
The components and raw material for production are
purchased both home and abroad.
l
Subject is engaged in sales of textile and dyeing
machines, etc.
l
Subject’s sales regions include Asia, Europe,
America, Middle East and Australia, etc.
l
Subject has their own brand “Hsing Cheng”.
Major items sold
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Item |
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1 |
HC-ASS Automatic Slitting & Scutching Machine |
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2 |
HC-AMP Automatic Measuring & Plaiting Machine |
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3 |
HC-AFS Automatic Fabric Sewing Machine |
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4 |
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5 |
HC-APP Automatic PE-film Packing Equipment Layout |
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6 |
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7 |
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8 |
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9 |
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10 |
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11 |
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12 |
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13 |
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14 |
HC-CEM Centering & Expander Machine |
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15 |
HC-DDP Cylinder Drum Drying Machine with Pad
Mangle |
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16 |
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17 |
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18 |
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19 |
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20 |
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21 |
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22 |
HC-IEC Inspection Automatic Edge Cutting Machine |
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23 |
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24 |
HC-KRM Knitting Fabric Releasing Machine |
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25 |
HC-OCM Open-width Compactor |
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26 |
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27 |
HC-REL Releasing & Inspection Machine |
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28 |
HC-TSD High Efficiency & Economical Energy
Tensionless Dryer |
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29 |
HC-TSA Tubular Fabric Squeezer with Air Balloon
Device |
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30 |
HC-TIW Tensionless Inspection & Winding
Machine |
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31 |
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32 |
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33 |
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34 |
HC-WDS Continuous Low Tension Oil-Removing
Shrinking Machine |
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35 |
HC-WFS Woven Fabric Desizing Washing Machine |
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36 |
HC-WCS Automatic Warp Correction Slitting Machine |
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37 |
HC-WRS Continuous Tensionless Washing
Oil-Removing Shrinking Machine |
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
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Payment Terms |
Proportion |
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Raw materials and components, etc |
COD, CBD, Credit Sales, etc |
100% |
Foreign Purchase
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Payment Terms |
Proportion |
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Raw materials and components, etc |
CBD, Credit Sales, etc |
100% |
Sales
Domestic Markets
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Sales Terms |
Proportion |
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Textile and dyeing machines, etc |
COD, CBD, etc |
100% |
Export
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Sales Terms |
Proportion |
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Textile and dyeing machines, etc |
CBD, etc |
100% |
Subject has no obligations to disclose its financial statements to the
third party according to the relevant policy in Taiwan and the only source from
which we can obtain the information is the subject itself.
Subject’s relevant staff Mr. Ye declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
Subject declined to disclose its bank details; from other source we can
not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
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Name |
Mr. Ye |
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Department |
Sale Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.81 |
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1 |
Rs.86.52 |
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Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.