|
Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHINA GENERAL PLASTICS CORP. |
|
|
|
|
Registered Office : |
12th Floor, No.37, Ji-Hu Road,
Nei-Hu Dist., Taipei City, Taiwan, R.O.C. |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
29.04.1964 |
|
|
|
|
Com. Reg. No.: |
11686106 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and sales of plastic
materials, etc |
|
|
|
|
No. of Employees : |
943 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
7TH FL, NO. 37, JI-HURD NEI-HU
DISTR., |
|
Telephone Number: |
|
|
Fax: |
+886-2-2659-9516 |
|
E-mail: |
Notes: Subject’s
exact name and address are as above and the supplied address belongs to
subject’s sales department.
|
Registered Name: |
China General Plastics Corp. |
|
Registered Address: |
12th Floor, No.37, Ji-Hu Road, Nei-Hu Dist.,
Taipei City, Taiwan, R.O.C. |
|
Date of Foundation: |
|
|
Registration Number: |
11686106 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs,
R.O.C. |
|
Registered Capital: |
NTD 5,000,000,000 (USD
168,500,000) (As of 2012.09, 1 NTD = 0.0337 USD) |
|
Paid-up Capital: |
NTD 4,248,035,280 (USD 143,158,789) |
|
Legal Representatives: |
Yigui Wu |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed
at Stock Exchange: |
|
|
Date
of Last Annual Return: |
Subject was incorporated on
Subject was listed in Taiwan Stock Exchange on
Awards
|
Year
|
Awards
|
|
2008 |
Blue
chip importer and exporter |
|
2009 |
Blue
chip importer and exporter |
|
2010 |
Blue
chip importer and exporter |
Standard of Blue chip importer and
exporter
Unit: USD
|
Year |
Amount |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
Name |
Subscription Shares |
|
Lian Ju International Investment Co.,
Ltd (Literal Translation) |
102,799,317 |
|
Tai Lian International Investment
Co., Ltd(Literal Translation) |
|
|
25,699,829 |
|
The information above is that of subject’s major shareholders.
Other Address
|
Name
|
Address |
Tel |
Contact
person |
|
Toufen Plant (vinyl films and leather) |
No.571, MinZu Road, Toufen Township, MiaoLi County 35159,
Taiwan |
+(886-37) |
Warren Chen |
|
Export Sales (PVC resin) |
|
+(886-2) |
Frank Huang |
The supplied Tel: +886-2-2798-3736
and fax +886-2-2659-9516 belong the export sales department and Tel: +886-2-2798-3736 is the directly line belongs
to salesman Mr. He
Related Company
|
Taita Chemical Company, Limited |
||||
|
Activities
|
Manufacture
and sales of ABS, GPPS/HIPS and EPS materials, etc |
|||
|
Address
|
||||
|
Name
|
Address |
Tel |
Fax |
|
|
Head Office |
|
+886-2-2798-3703 |
886-2-2798-3260 |
|
|
Kaohsiung Plant |
No. 3, Chen Chi St. Chien Chen,
Kaohsiung, Taiwan |
+886-7-821-9521 |
886-7-811-2150 |
|
|
Lin Yuan Plant |
No. 5, Industrial 1st.
Rd., Lin Yuan, Kaohsiung, Taiwan |
+886-7-641-3201 |
886-7-641-4544 |
|
|
Toufen Plant (Glass Wool) |
571, Min Tsu Rd., Toufen, Miaoli,
Taiwan |
+886-37-627-700 |
886-37-627-704 |
|
|
Cubic Printing |
571, Min Tsu Rd., Toufen, Miaoli,
Taiwan |
+886-37-627-705 |
886-37-623-027 |
|
|
Zhong Shan High Tech. Industry
Development Zone Plant |
Yan Jiang Dong Erlu, Zhong Shan,
Guang Dong, China 528437 |
+86-760-5316689 (ext.6134) |
(0760) 338-2493 |
|
|
Tianjin Plant |
No. 8, Hengshan Road, Chemical
Industry Park, Tianjin Economic Technological Development Area. Tianjin,
China 300480 |
(022) 6716-2786 |
(022) 6716-2926 |
|
Core Management
Directors
|
1 |
|
|
Name |
Yigui
Wu |
|
Position |
Board
Chairman |
|
2 |
|
|
Name |
Yaosheng
Chen |
|
Position |
Director
|
|
3 |
|
|
Name |
Jizhong
Zhang |
|
Position |
Director
|
|
4 |
|
|
Name |
Dehuai
Zhou |
|
Position |
Director
& Manager |
|
Date
of Appointment |
|
|
5 |
|
|
Name |
Hanfu
Lin |
|
Position |
Director
|
|
6 |
|
|
Name |
Hantai
Liu |
|
Position |
Director
|
|
7 |
|
|
Name |
Zhentu
Liu |
|
Position |
Director
|
|
8 |
|
|
Name |
Yishao
Ke |
|
Position |
Supervisor
|
|
9 |
|
|
Name |
Guohong
Li |
|
Position |
Supervisor
|
Personnel
Structure
|
Total
Employees |
943
employees as of |
Offices &
Factories
|
|
Headquarters |
|
Add |
7th Floor, No.37, Ji-Hu Road, Nei-Hu Dist., Taipei
City, Taiwan, R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of
plastics and relevant materials (PVC resin)
l
It is introduced that subject has been
certificated by ISO 9001:2008, ISO/TS 16949:2009, ISO 14001:2004, etc
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacture of plastic and relevant
raw materials |
|
-- |
Manufacture of plastic processed products |
|
-- |
Manufacture of required chemicals for
plastic processed products |
|
-- |
Manufacture of printing and embossing
roller |
|
-- |
Technology service, Manufacture and
sales of Chemical machinery and equipment |
|
-- |
Distribution and processing business
of the above mentioned products |
|
-- |
Research and extension service of the
above mentioned business |
|
F107110 |
Wholesales of petrochemical materials |
|
F207110 |
Retails of petrochemical materials |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
Subject purchases both at home and
abroad.
l
Subject is engaged in distribution of
plastics and relevant materials.
l
Subject mainly provides acid and
alkaline products, polyvinyl chloride (PVC) powder, rigid extruded products,
plastic cloth and plastic granules, among others.
l
Subject’s products are applied in the
manufacturing of seasoning products, synthetic fibers, pigments, paper pulp,
steel products, shoes, automobile products, wires, construction materials, toys
and household products, among others.
l
Subject’s products are sold in Taiwan,
the mainland of China, India, Australia, Europe and the Americas.
Major
products
|
Type |
Details |
|
Raw material products |
Chlor-Alkali Products PVC Resins Compound Products |
|
Construction Products |
PVC pipe, PVC fitting, Waterproofing
Membrane, Anti-Corrosion Liner, PVC Wall / Partition Board, PVC Panel, etc. |
|
Film and Sheet Products |
Flexible Film and Sheet Rigid Film and Sheet Printed Film and Sheet Laminated Film and Sheet |
|
Leather Products |
Synthetic Leather Products for shoes,
marine, furniture, Sports Equipments, Medical Care and
Environmental Protection, etc |
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials, etc |
COD,
Credit Sales, etc |
100% |
Foreign
Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials and equipment, etc |
CBD,
etc |
100% |
Sales
Domestic
Markets
|
Sales
Terms |
Proportion |
|
|
PVC
resin, etc |
CBD,
etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
PVC
resin, etc |
CBD,
etc |
100% |
Unit: NTD/000
|
|
|
|
|
Assets |
|
|
|
Current
Assets |
|
|
|
Cash
and cash equivalents |
231,327.00 |
552,107.00 |
|
Financial
assets measured at fair value through profit or loss - current |
752,500.00 |
747,712.00 |
|
Available-for-sale
financial assets - current |
4,306.00 |
9,063.00 |
|
Notes
receivable - net |
173,620.00 |
208,326.00 |
|
Accounts
receivable - net |
614,916.00 |
540,560.00 |
|
Accounts
receivable - related parties - net |
140,810.00 |
197,358.00 |
|
Other
receivables |
11,262.00 |
1,771.00 |
|
Other
receivables - related parties |
17,691.00 |
97,514.00 |
|
Other
financial assets - current |
181.00 |
154.00 |
|
Inventories |
741,142.00 |
777,192.00 |
|
Prepaid
expenses |
16,080.00 |
26,073.00 |
|
Other
current assets |
44,790.00 |
56,018.00 |
|
Current
assets |
2,748,625.00 |
3,213,848.00 |
|
Funds
and Investments |
|
|
|
Financial
assets measured at fair value through profit or loss - non current |
0.00 |
138,941.00 |
|
Equity
investments under equity method |
2,613,259.00 |
2,702,552.00 |
|
Investments |
2,613,259.00 |
2,702,552.00 |
|
Funds
and long-term investments |
2,613,259.00 |
2,841,493.00 |
|
Fixed
Assets |
|
|
|
Cost |
|
|
|
Land |
120,105.00 |
120,105.00 |
|
Buildings
and structures |
629,758.00 |
628,571.00 |
|
Machinery
and equipment |
4,244,809.00 |
4,369,816.00 |
|
Transportation
equipment |
36,113.00 |
38,434.00 |
|
Other
facilities |
163,680.00 |
176,109.00 |
|
Revaluation
increment |
1,557,151.00 |
1,553,334.00 |
|
Cost
and revaluation increment |
6,751,616.00 |
6,886,369.00 |
|
Accumulated
depreciation |
-4,476,420.00 |
-4,543,621.00 |
|
Construction
in process and prepayment for equipments |
67,911.00 |
68,677.00 |
|
Fixed
assets |
2,343,107.00 |
2,411,425.00 |
|
Intangible
Assets |
|
|
|
OtherAssets |
|
|
|
Rental
assets |
30,031.00 |
30,071.00 |
|
Idled
assets |
0.00 |
0.00 |
|
Guarantee
deposits paid |
300.00 |
46.00 |
|
Long-term
notes and accounts receivable - related parties |
8,741.00 |
8,797.00 |
|
Deferred
income tax assets - non current |
221,836.00 |
191,134.00 |
|
Other
assets - other |
7,000.00 |
7,000.00 |
|
Other
assets |
267,908.00 |
237,048.00 |
|
Assets |
7,972,899.00 |
8,703,814.00 |
|
Liabilities
and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current
Liabilities |
|
|
|
Financial
liabilities measured at fair value through profit or loss - current |
0.00 |
105.00 |
|
Notes
payable |
276.00 |
425.00 |
|
Accounts
payable |
238,713.00 |
262,054.00 |
|
Accounts
payable - related parties |
266,934.00 |
446,010.00 |
|
Income
tax payable |
61,426.00 |
50,822.00 |
|
Accrued
expenses |
192,277.00 |
192,581.00 |
|
Other
payables - related parties |
935.00 |
793.00 |
|
Other
payables |
7,759.00 |
4,173.00 |
|
Other
current liabilities |
46,068.00 |
34,810.00 |
|
Current
liabilities |
814,388.00 |
991,773.00 |
|
Long
term Liabilities |
|
|
|
Long-term
borrowings |
298,335.00 |
997,595.00 |
|
Long-term
liabilities |
298,335.00 |
997,595.00 |
|
Reserves |
|
|
|
Reserve
for land revaluation increment tax |
483,213.00 |
483,213.00 |
|
Reserves |
483,213.00 |
483,213.00 |
|
Other
Liabilities |
|
|
|
Pension
reserve / accrued pension liability |
1,080,441.00 |
1,100,171.00 |
|
Other
liabilities - other |
23,651.00 |
20,456.00 |
|
Other
liabilities |
1,104,092.00 |
1,120,627.00 |
|
Liabilities |
2,700,028.00 |
3,593,208.00 |
|
Stockholders'
Equity |
|
|
|
Capital |
|
|
|
Common
stock |
4,248,035.00 |
4,248,035.00 |
|
Capital
Surplus |
|
|
|
Capital
surplus - long-term equity investments |
1,451.00 |
1,175.00 |
|
Capital
surplus - other |
7,920.00 |
7,927.00 |
|
Capital
surplus |
9,371.00 |
9,102.00 |
|
Retained
Earnings |
|
|
|
Legal
reserve |
0.00 |
19,895.00 |
|
Unappropriated
retained earnings |
429,916.00 |
305,216.00 |
|
Retained
earnings |
429,916.00 |
325,111.00 |
|
Stockholders'
Equity and Other adjustmen |
|
|
|
Cumulative
translation adjustments |
55,721.00 |
24,712.00 |
|
Net
loss not recognized as pension cost |
-134,161.00 |
-177,301.00 |
|
Unrealized
gains (losses) on financial instruments |
10,963.00 |
27,921.00 |
|
Unrealized
Revaluation Increment |
653,026.00 |
653,026.00 |
|
Equity
adjustments |
585,549.00 |
528,358.00 |
|
Stockholdersˉ
equity |
5,272,871.00 (USD 177,695,753) |
5,110,606.00 (USD 172,227,422) |
|
Number
of treasury stock acquired by the company and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of
2012.09, 1 NTD = 0.0337 USD)
Unit:
NTD/000
|
|
~ |
~ |
|
Sales |
4,012,055.00 (USD 135,206,254) |
5,013,461.00 (USD 168,953,636) |
|
Sales
returns |
3,554.00 |
2,963.00 |
|
Sales
discounts and allowances |
17,348.00 |
27,573.00 |
|
Sales |
3,991,153.00 |
4,982,925.00 |
|
Operating
income |
3,991,153.00 |
4,982,925.00 |
|
Cost
of sales |
3,662,117.00 |
4,569,920.00 |
|
Operating
costs |
3,662,117.00 |
4,569,920.00 |
|
Gross
profit (loss) from operations |
329,036.00 |
413,005.00 |
|
Unrealized
gains on intercompany transactions |
2,705.00 |
-504.00 |
|
Selling
expense |
152,467.00 |
182,573.00 |
|
General
and administrative expenses |
56,199.00 |
64,680.00 |
|
Research
and development expenses |
22,705.00 |
24,250.00 |
|
Operating
expenses |
231,371.00 |
271,503.00 |
|
Operating
income (loss) |
94,960.00 |
142,006.00 |
|
Non-Operating
Income |
|
|
|
Interest
income |
6,276.00 |
6,715.00 |
|
Inome
from long-term equity investments under the equity method |
317,149.00 |
108,635.00 |
|
Investment
income |
317,149.00 |
108,635.00 |
|
Gains
on sale of investments |
7,032.00 |
1,302.00 |
|
Rent
income |
3,732.00 |
3,892.00 |
|
Revaluation
gain on financial assets |
27,846.00 |
19,332.00 |
|
Miscellaneous
income |
28,493.00 |
11,049.00 |
|
Non-operating
revenues and gains |
390,528.00 |
150,925.00 |
|
Non-Operating
Expenses |
|
|
|
Interest
expense |
4,067.00 |
8,109.00 |
|
Foreign
exchange losses |
8,193.00 |
5,361.00 |
|
Revaluation
loss on financial liabilities |
425.00 |
532.00 |
|
Miscellaneous
disbursements |
7,471.00 |
1,440.00 |
|
Non-operating
expenses and losses |
20,156.00 |
15,442.00 |
|
Income
from continuing operations before income tax |
465,332.00 |
277,489.00 |
|
Income
tax expense (benefit) |
14,912.00 |
23,896.00 |
|
Income
from continuing operations |
450,420.00 |
253,593.00 |
|
Net
income (loss) |
450,420.00 (USD 15,179,154) |
253,593.00 (USD 8,546,084) |
|
Primary
Earnings per Share |
|
|
|
Primary
earnings per share |
1.06 |
0.60 |
|
Diluted
earnings per share |
|
|
|
Diluted
earnings per share |
1.06 |
0.60 |
(As of 2012.09, 1 NTD = 0.0337 USD)
Unit: NTD/000
|
|
~ |
~ |
|
Cash
Flows from Operating Activities - Indirect Method |
|
|
|
Net
Income (Loss) |
450,420 |
253,593 |
|
Adjustments
to Reconcile Net Income to Net Cash Provided by (Used in) Operating
Activities |
|
|
|
Depreciation
Expense |
75,549 |
81,970 |
|
Amortization
Expense |
0 |
2,548 |
|
Provision
(Reversal of Provision) for Sales Returns, Discounts and Allowanc |
(7,361) |
(10,413) |
|
Loss
(Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of
Inventories |
6,929 |
6,145 |
|
Investment
Loss (Income) Recognized under Equity Method |
(317,149) |
(108,635) |
|
Cash
Dividends Received from Investments Accounted for under Equity Method |
28,214 |
0 |
|
Loss
(Gain) on Disposal of Property, Plan and Equipment |
(7,368) |
(1,677) |
|
Loss
(Gain) on Disposal of Investments |
(7,032) |
(1,302) |
|
Unrealized
Revaluation Loss (Gain) on Financial Assets and Liabilities |
(26,745) |
(10,168) |
|
Unrealized
Gain (Loss) on Intercompany Transactions |
2,705 |
(504) |
|
Other
Adjustments to Reconcile Net Income |
(1,096) |
370 |
|
Changes
in Operating Assets and Liabilities |
|
|
|
Decrease
(Increase) in Financial Assets Held for Trading |
324 |
(2,225) |
|
Decrease
(Increase) in Notes Receivable |
26,669 |
(22,042) |
|
Decrease
(Increase) in Accounts Receivable |
12,093 |
(22,348) |
|
Decrease
(Increase) in Accounts Receivable - Related Parties |
(21,081) |
(67,249) |
|
Decrease
(Increase) in Other Receivables |
(9,202) |
59 |
|
Decrease
(Increase) in Other Receivable- Related Parties |
34,152 |
(34,296) |
|
Decrease
(Increase) in Inventories |
(53,020) |
52,687 |
|
Decrease
(Increase) in Other Current Assets |
(1,818) |
(13,000) |
|
Decrease
(Increase) in Other Financial Assets |
(74) |
25 |
|
Decrease
(Increase) in Deferred Tax Assets |
(12,691) |
(3,583) |
|
Increase
(Decrease) in Notes Payable |
130 |
188 |
|
Increase
(Decrease) in Accounts Payable |
40,209 |
50,471 |
|
Increase
(Decrease) in Accounts Payable - Related Parties |
(99,130) |
51,117 |
|
Increase
(Decrease) in Income Tax Payable |
(6,955) |
18,239 |
|
Increase
(Decrease) in Accrued Expenses |
(5,482) |
13,912 |
|
Increase
(Decrease) in Other Payables |
3,832 |
1,682 |
|
Increase
(Decrease) in Other Payable - Related Parties |
(5,692) |
(3,574) |
|
Increase
(Decrease) in Other Current Liabilities |
2,836 |
(16,755) |
|
Increase
(Decrease) in Accrued Pension Liabilities |
5,545 |
13,233 |
|
Net
Cash Provided by (Used in) Operating Activities |
107,711 |
228,468 |
|
Cash
Flows from Investing Activities |
|
|
|
Acquisition
of Financial Assets as Fair Value through Profit or Loss |
(2,466,500) |
(1,717,000) |
|
Proceeds
from Disposal of Financial Assets as Fair Value through Profit or Loss |
2,796,594 |
1,472,510 |
|
Proceeds
from Disposal of Investments Accounted for by Equity Method |
54 |
0 |
|
Purchase
of Property, Plant and Equipment |
(52,942) |
(40,504) |
|
Proceeds
from Disposal of Property, Plant and Equipment |
10,683 |
2,166 |
|
Proceeds
from Disposal of Rental Assets and Idle Assets |
0 |
87 |
|
Decrease
(Increase) in Refundable Deposits |
(300) |
291 |
|
Decrease
(Increase) in Other Receivables - Related Parties |
0 |
79,695 |
|
Decrease
(Increase) in Restricted Assets |
0 |
143,000 |
|
Net
Cash Provided by (Used in) Investing Activities |
287,589 |
(59,755) |
|
Cash
Flows from Financing Activities |
|
|
|
Increase
(Decrease) in Short-term Notes and Bills Payable |
(299,846) |
0 |
|
Proceeds
from Long-term Debt |
0 |
1,000,000 |
|
Repayment
of Long-term Debt |
0 |
(996,000) |
|
Increase
(Decrease) in Guarantee Deposits Received |
(324) |
314 |
|
Increase
(Decrease) in Other Liabilities |
30 |
52 |
|
Cash
Dividends Paid |
(8) |
(52) |
|
Net
Cash Provided by (Used in) Financing Activities |
(300,148) |
4,314 |
|
Net
Increase (Decrease) in Cash and Cash Equivalents |
95,152 |
173,027 |
|
Cash
and Cash Equivalents, Beginning of year |
136,175 |
379,080 |
|
Cash
and Cash Equivalents, End of year |
231,327 |
552,107 |
|
Supplemental
Cash Flow Information |
|
|
|
Interest
Paid- Excluding Capitalized Interest |
3,954 |
7,627 |
|
Income
Tax Paid |
34,558 |
9,240 |
|
Investing
Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash
Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase
in Property, Plant and Equipment |
41,400 |
39,097 |
|
Increase
(Decrease) in Payable for Equipment Purchased |
11,542 |
1,407 |
|
Cash
Paid for Acquisition of Property, Plant and Equipment |
52,942 |
40,504 |
|
Other
Supplemental Information |
|
|
|
Cash
Dividend Receivable_on Equity Method |
1,733 |
40,853 |
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
|
Trail Number |
99,Bei Xiao,811 |
|
Trail Date |
991027 |
|
Reason |
|
|
2 |
|
|
Trail Number |
91,Bei Lao Su,2 |
|
Trail Date |
920515 |
|
Reason |
Conformation of employment relationship |
|
Name |
Kevin Chang |
|
Department |
Export department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.97 |
|
|
1 |
Rs.87.52 |
|
Euro |
1 |
Rs.70.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.