MIRA INFORM
REPORT
|
Report Date : |
14.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
BEIJING JOINTOWN PHARMACEUTICAL CO., LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
29.06.2000 |
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Com. Reg. No.: |
110000001431587 |
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|
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Legal Form : |
One-Person Limited Liability Company |
|
|
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Line of Business : |
selling drugs and medical devices. |
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|
|
|
No. of Employees
: |
965 |
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 |
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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 |
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Restricted |
C2 |
|
Off-credit |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China
has moved from a closed, centrally planned system to a more market-oriented one
that plays a major global role - in 2010 China became the world's largest
exporter. Reforms began with the phasing out of collectivized agriculture, and
expanded to include the gradual liberalization of prices, fiscal
decentralization, increased autonomy for state enterprises, creation of a
diversified banking system, development of stock markets, rapid growth of the
private sector, and opening to foreign trade and investment. China has
implemented reforms in a gradualist fashion. In recent years, China has renewed
its support for state-owned enterprises in sectors it considers important to
"economic security," explicitly looking to foster globally competitive
national champions. After keeping its currency tightly linked to the US dollar
for years, in July 2005 China revalued its currency by 2.1% against the US
dollar and moved to an exchange rate system that references a basket of
currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi
against the US dollar was more than 20%, but the exchange rate remained
virtually pegged to the dollar from the onset of the global financial crisis
until June 2010, when Beijing allowed resumption of a gradual appreciation. The
restructuring of the economy and resulting efficiency gains have contributed to
a more than tenfold increase in GDP since 1978. Measured on a purchasing power
parity (PPP) basis that adjusts for price differences, China in 2010 stood as
the second-largest economy in the world after the US, having surpassed Japan in
2001. The dollar values of China's agricultural and industrial output each
exceed those of the US; China is second to the US in the value of services it
produces. Still, per capita income is below the world average. The Chinese
government faces numerous economic challenges, including: (a) reducing its high
domestic savings rate and correspondingly low domestic demand; (b) sustaining
adequate job growth for tens of millions of migrants and new entrants to the
work force; (c) reducing corruption and other economic crimes; and (d)
containing environmental damage and social strife related to the economy's
rapid transformation. Economic development has progressed further in coastal
provinces than in the interior, and by 2011 more than 250 million migrant
workers and their dependents had relocated to urban areas to find work. One
consequence of population control policy is that China is now one of the most
rapidly aging countries in the world. Deterioration in the environment -
notably air pollution, soil erosion, and the steady fall of the water table,
especially in the North - is another long-term problem. China continues to lose
arable land because of erosion and economic development. The Chinese government
is seeking to add energy production capacity from sources other than coal and
oil, focusing on nuclear and alternative energy development. In 2010-11, China
faced high inflation resulting largely from its credit-fueled stimulus program.
Some tightening measures appear to have controlled inflation, but GDP growth
consequently slowed to near 9% for 2011. An economic slowdown in Europe is
expected to further drag Chinese growth in 2012. Debt overhang from the
stimulus program, particularly among local governments, and a property price
bubble challenge policy makers currently. The government's 12th Five-Year Plan,
adopted in March 2011, emphasizes continued economic reforms and the need to
increase domestic consumption in order to make the economy less dependent on
exports in the future. However, China has made only marginal progress toward
these rebalancing goals.
Source
: CIA
Company name & address
beijing jointown pharmaceutical co., Ltd.
NO. 9 GUANGPING AVENUE, DAXING ECONOMIC DEVELOPMENT ZONE,
DAXING DISTRICT, BEIJING 102600 PR CHINA
TEL: 86 (0)10-60210555/60210244 FAX: 86 (0) 10-60210999
EXECUTIVE SUMMARY
INCORPORATION DATE : JUNE 29, 2000
REGISTRATION NO. : 110000001431587
REGISTERED LEGAL FORM : ONE-PERSON LIMITED
LIABILITY COMPANY
STAFF STRENGTH :
965
REGISTERED CAPITAL : cny 110,000,000
BUSINESS LINE :
trading
TURNOVER :
CNY 2,779,073,000 (AS OF DEC.
31, 2010)
EQUITIES :
CNY 171,798,000 (AS OF DEC. 31, 2010)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : FAIRLY stable
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : average
EXCHANGE RATE :
CNY 6.31 = USD 1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Ren Min Bi
Note: SC also uses Beijing Jiuzhoutong Pharmaceutical Co., Ltd. as its English name.
SC was reregistered as a limited liabilities company at local Administration for Industry & Commerce (AIC-The official body of issuing and renewing business license) on June 29, 2000 and has been under present legal form since 2006.
Company Status: One-person
Limited Liability Company
Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered
business scopes include wholesaling Chinese herbal medicine, Chinese medicine pieces,
Chinese medicine, chemical raw materials, chemical medicine preparation,
antibiotics, biochemical drugs, biological products, and the second class of
psychoactive drugs; selling health food, packaged food stereotypes, type of medical equipment: medical ultrasound
machines and related equipment; medical laser equipment; physical therapy and
rehabilitation equipment; injection needle devices, medical polymer materials
and products, medical suture materials and adhesives; intervention equipment ;
medical materials and dressings; cardiopulmonary bypass and blood processing
equipment; dental materials; the operating room, emergency room, clinic
equipment and apparatus; implant materials and artificial organs; medical
optical equipment, instruments and endoscopic equipment; medical electronic
equipment; silver clip; bone per pin; in vitro diagnostic reagents; ophthalmic
surgical instruments; medical high frequency equipment; medical X-ray
equipment; clinical laboratory analytical instruments; Class Ⅱ medical
devices: Urinary anorectal surgical instruments; basic surgical instruments,
injection needle apparatus, general examination equipment, medical electronic
equipment, medical optical equipment, instruments and endoscopic equipment,
medical ultrasound machines and related equipment, physical therapy and
rehabilitation equipment, medicine equipment, medical X-ray equipment and
ancillary components, clinical testing analytical instruments, medical
laboratory equipment and infrastructure equipment, operating room, emergency
room, clinic equipment and apparatus, equipment and appliances ward care,
disinfection and sterilization equipment and apparatus, medical materials and
dressings, suture materials and medical adhesives, medical polymer materials
and products, implant materials and artificial organs; neurosurgery
instruments; thoracic cardiovascular surgery instruments; medical
high-frequency equipment; orthopedic surgery (orthopedic) surgery instruments;
dental equipment and apparatus; medical cold treatment, cryogenic,
refrigeration equipment and apparatus; gingival retraction cord; general cargo,
cargo-specific transport (cold storage); internet information services; using www.jzteyao.com.cn website Publishing online advertising;
selling daily necessities, household items, hygiene products, condoms,
contraceptive cap, early pregnancy test strip, pregnancy test pen, pregnancy
test kits, drug packaging materials and containers, cosmetics, medical devices
(type), chemicals (excluding a class of hazardous chemicals and precursor
chemicals); retailing hippocampus, sea turtle products; designing and producing
online advertising; medical technology consulting (without intermediaries);
warehousing services; design, production, agent and release of advertising;
import and export of goods and technology; import and export agent.
SC is mainly
engaged in selling drugs and medical devices.
Mr. Liu Zhaonian
has been legal representative and chairman of SC since 2000.
SC is known
to have approx. 965 employees at present.
SC is
currently operating at the above stated address, and this address houses its
operating office and warehouse in the economic development zone of Beijing. Our
checks reveal that SC covers an area of 66,667 square
meters (100 mu).
http://www.yyjzt.com/jzteyao/lib/qyxingxiang/beijingjzt/qyjj.htm
The design is professional and the content is well organized. At present, the
web is in Chinese version.
Changes
of its registered information:
|
Date of change |
Item |
Before the
change |
After the change |
|
2000-8 |
Registered capital |
CNY 500,000 |
CNY 3,000,000 |
|
2000-9 |
Registered capital |
CNY 3,000,000 |
CNY 8,000,000 |
|
Shareholdings |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 70%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
25%；Zhanjiang Yibao Pharmaceutical Co., Ltd.
(in Chinese Pinyin) 5% |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 70%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
28%；Zhanjiang Yibao Pharmaceutical Co., Ltd.
(in Chinese Pinyin) 2% |
|
|
2000-10 |
Registered capital |
CNY 8,000,000 |
CNY 16,000,000 |
|
2000-11 |
Registered capital |
CNY 16,000,000 |
CNY 24,000,000 |
|
Shareholdings |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 70%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
28%；Zhanjiang Yibao Pharmaceutical Co., Ltd.
(in Chinese Pinyin) 2% |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 70%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
28.5%；Zhanjiang Yibao Pharmaceutical Co., Ltd.
(in Chinese Pinyin) 1.5% |
|
|
2002-1 |
Shareholders (Shareholdings) |
Wuhan Junda Industry Co., Ltd. (in Chinese Pinyin) 70%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd. 28.5%；Zhanjiang Yibao Pharmaceutical Co., Ltd. (in
Chinese Pinyin) 1.5% |
Wuhan Junda Industry Co., Ltd. (in Chinese Pinyin) 71.5%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd. 28.5% |
|
2002-3 |
Registered capital |
CNY 24,000,000 |
CNY 30,000,000 |
|
Shareholders (Shareholdings) |
Wuhan Junda Industry Co., Ltd. (in Chinese Pinyin) 71.5%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd. 28.5% |
Wuhan Junda Industry Co., Ltd. (in Chinese Pinyin) 57.2%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd. 22.8%；Shanghai Hongkang Industry Investment Co., Ltd.
(in Chinese Pinyin) 20% |
|
|
2002-8 |
Registered capital |
CNY 30,000,000 |
CNY 42,000,000 |
|
Shareholdings |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 57.2%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
22.8%；Shanghai Hongkang Industry Investment Co.,
Ltd. (in Chinese Pinyin) 20% |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 40.86%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
16.28%；Shanghai Hongkang Industry Investment Co.,
Ltd. (in Chinese Pinyin) 42.86% |
|
|
2002-9 |
Registered capital |
CNY 42,000,000 |
CNY 50,000,000 |
|
Shareholdings |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 40.86%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
16.28%；Shanghai Hongkang Industry Investment Co.,
Ltd. (in Chinese Pinyin) 42.86% |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 31.78%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
12.66%；Shanghai Hongkang Industry Investment Co.,
Ltd. (in Chinese Pinyin) 55.56% |
|
|
2002-11 |
Shareholders (Shareholdings) |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 31.78%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
12.66%；Shanghai Hongkang Industry Investment Co.,
Ltd. (in Chinese Pinyin)55.56% |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 3.7%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
1.25%；Shanghai Hongkang Industry Investment Co.,
Ltd. (in Chinese Pinyin) 52%；Liu Zhaonian
43.05% |
|
2003-7 |
Shareholders (Shareholdings) |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 3.7%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
1.25%；Shanghai Hongkang Industry Investment Co.,
Ltd. (in Chinese Pinyin) 52%；Liu Zhaonian
43.05% |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 55.7%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
1.25%；Liu Zhaonian 43.05% |
|
2003-11 |
Shareholders (Shareholdings) |
Wuhan Junda Industry Co., Ltd. (in Chinese
Pinyin) 55.7%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd.
1.25%；Liu Zhaonian 43.05% |
Jiuzhoutong Group Co., Ltd. 55.7%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd. 1.25%；Liu Zhaonian 43.05% |
|
2004-12 |
Shareholders (Shareholdings) |
Jiuzhoutong Group Co., Ltd. 55.7%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd. 1.25%；Liu Zhaonian 43.05% |
Jiuzhoutong Group Co., Ltd. 98.75%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd. 1.25% |
|
2006-6 |
Registered legal form |
Limited liabilities company |
Present one |
|
Shareholders (Shareholdings) |
Jiuzhoutong Group Co., Ltd. 98.75%；Hubei Jiuzhoutong Pharmaceutical Co., Ltd. 1.25% |
Jiuzhoutong Group Co., Ltd. 100% |
|
|
2008-4 |
Registration No. |
1100001143158 |
Present one |
|
2008-6 |
Company name |
Beijing Jiuzhou Tongda E- Business Co.,
Ltd. |
Present one |
|
2008-12 |
Shareholder’s name |
Jiuzhoutong Group Co., Ltd. |
Present one |
|
2009-4 |
Registered capital |
CNY 50,000,000 |
Present amount |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Jointown Pharmaceutical Group Co., Ltd. 100
Legal representative: Liu Baolin
Registration No.: 420000400000103
Registered capital: CNY 1,420,520,000
The said company is listed in Shanghai Stock
Exchange Market with the stock code 600998.
Add: No. 8 Longyang Avenue, Hanyang
District, Wuhan, Hubei Province
Tel: 86 027 84884488
Fax: 86 027 84860303
l
Legal representative and Chairman:
Mr. Liu Zhaonian, ID # 110108601001005, born in 1960 with doctor’s
degree. He is currently responsible for the overall management of SC.
Working Experience(s):
From 2000 to present Working in SC as legal representative and chairman;
From 2008 to present Working in Jointown Pharmaceutical Group Co., Ltd. as vice chairman
Directors:
…………
Gong Li ID# 422202197305182411
Wen Xumin ID# 140102196505124874
Liu Baolin ID# 422202530601571
Chen Yingjun ID# 422202670709245
Supervisor:
…………..
Deng Huiyan ID# 130182198301092443
SC is mainly
engaged in selling drugs and medical devices.
SC’s products mainly include: Chinese herbal medicine, Chinese medicine
pieces, Chinese medicine, Western medicine, the spirit of second-class
medicine, chemical raw materials, health products, health supplies, medical
equipment, etc.
SC sources its
materials 95% from domestic market, and 5% from overseas market. SC sells 95%
of its products in domestic market, and 5% to overseas market.
The buying terms of SC include Check, L/C, T/T and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Note:
SC’s management declined to release its major clients and suppliers.
SC is
known to invest in the following companies:
Inner
Mongolia Jointown Pharmaceutical Co., Ltd.
Beijing Jiuzhou
Tongda Logistics Co., Ltd. (in Chinese Pinyin)
Tianjin
Jiuzhou Tongda Pharmaceutical Co., Ltd. (in Chinese Pinyin)
Beijing
Jiuzhou Tongda Pharmaceutical Co., Ltd. (in Chinese Pinyin)
Beijing
Jingfeng Pharmaceutical Co., Ltd.
Beijing
Jundagaoke Science & Technology Incubator Co., Ltd.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment records and our debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent
payment record: None in our database.
Debt collection record: No overdue amount owed by SC was placed to us for
collection within the last 6 years.
The bank
information is not found in local AIC.
Balance Sheet
Unit: CNY’000
|
|
as
of Dec. 31, 2009 |
as
of Dec. 31, 2010 |
|
Cash & bank |
159,935 |
62,961 |
|
Inventory |
302,499 |
297,323 |
|
Accounts
receivable |
176,659 |
130,616 |
|
Notes receivable |
9,018 |
30,287 |
|
Advances to
suppliers |
47,483 |
45,132 |
|
Other
accounts receivable |
45,836 |
147,302 |
|
Other current
assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
741,430 |
713,621 |
|
|
Fixed
assets |
110,787 |
118,952 |
|
Long
term investment |
92,132 |
92,132 |
|
Projects under
construction |
13,528 |
120 |
|
Intangible
assets |
28,774 |
25,996 |
|
Other
assets |
131 |
233 |
|
|
------------------ |
------------------ |
|
Total
assets |
986,782 |
951,054 |
|
|
============= |
============= |
|
Short loans |
140,000 |
8,000 |
|
Accounts payable |
156,103 |
178,424 |
|
Notes payable |
281,078 |
47,689 |
|
Advances from
clients |
14,546 |
14,620 |
|
Salaries and
welfare payable |
2,527 |
32 |
|
Taxes unpaid |
-1,679 |
7,855 |
|
Other accounts
payable |
141,597 |
519,666 |
|
Other current
liabilities |
0 |
0 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
734,172 |
776,286 |
|
Long term
liabilities |
63,000 |
2,970 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
797,172 |
779,256 |
|
Equities |
189,610 |
171,798 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
986,782 |
951,054 |
|
|
============= |
============= |
Income Statement
Unit: CNY’000
|
|
as of Dec. 31,
2009 |
as of Dec. 31,
2010 |
|
Turnover |
2,605,938 |
2,779,073 |
|
Cost of goods
sold |
2,475,139 |
2,630,522 |
|
Taxes and additional of main
operation |
1,804 |
2,686 |
|
Sales expense |
36,913 |
54,645 |
|
Management expense |
37,111 |
36,075 |
|
Finance expense |
8,784 |
16,725 |
|
Asset impairment loss |
255 |
458 |
|
Investment
income |
24,075 |
10,498 |
|
Non-operating
income |
2,129 |
6,267 |
|
Non-operating expenses |
91 |
248 |
|
Profit before
tax |
72,045 |
54,479 |
|
Less: profit tax |
2,270 |
10,943 |
|
Profits |
69,775 |
43,536 |
Important Ratios
=============
|
|
as of Dec. 31, 2009 |
as of Dec. 31, 2010 |
|
*Current ratio |
1.01 |
0.92 |
|
*Quick ratio |
0.60 |
0.54 |
|
*Liabilities
to assets |
0.81 |
0.82 |
|
*Net profit
margin (%) |
2.68 |
1.57 |
|
*Return on
total assets (%) |
7.07 |
4.58 |
|
*Inventory
/Turnover ×365 |
42 days |
39 days |
|
*Accounts
receivable/Turnover ×365 |
25 days |
17 days |
|
*Turnover/Total
assets |
2.64 |
2.92 |
|
* Cost of
goods sold/Turnover |
0.95 |
0.95 |
PROFITABILITY: FAIRLY GOOD
·
The
turnover of SC appears good in its line, and it increased in 2010.
· SC’s net profit margin is average.
·
SC’s return
on total assets is fairly good.
·
SC’s cost of
goods sold is high, comparing with its turnover.
LIQUIDITY: FAIR
· The current ratio of SC is maintained in a fair level in 2010.
· SC’s quick ratio is maintained in a fair level.
· The inventory of SC appears fairly large.
· The accounts receivable of SC appears average.
· SC’s short-term loan is fairly large in 2009 and average in 2010.
· SC’s turnover is in an average level, comparing with the size of its total assets.
LEVERAGE: AVERAGE
· The debt ratio of SC is fairly high.
· The risk for SC to go bankrupt is fairly low.
Overall financial condition of the SC:
Fairly Stable.
SC is medium-sized in its line with favorable background and fairly
stable financial conditions. The large amount of inventory could be a threat to
SC’s financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.44 |
|
UK Pound |
1 |
Rs.89.31 |
|
Euro |
1 |
Rs.71.61 |
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.