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Report Date : |
08.04.2013 |
IDENTIFICATION DETAILS
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Name : |
CHANG CHUN PLASTICS CO., LTD. |
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Registered Office : |
No.301, 7th FL., Songkiang Road, Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
28.12.1957 |
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Com. Reg. No.: |
11384708 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of chemicals |
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No. of Employees : |
About 3,000 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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: |
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Supplied Address: |
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Telephone Number: |
+886 2-2500-1800 |
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Fax Number: |
+886 2-2501-8018 |
Notes:
The exact name and address are as above.
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Credit Opinion: |
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Registered Name: |
Chang Chun Plastics Co., Ltd. |
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Registered Address: |
No.301, 7th FL., Songkiang Road, Taipei, Taiwan R.O.C. |
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Date of Foundation: |
|
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Registration Number: |
11384708 |
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Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
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Registered Capital: |
NTD 3,404,802,610 (USD 115,422,808) (As of 2012.12, 1 NTD = 0.0339 USD) |
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Paid-up Capital: |
NTD 3,404,802,610 (USD 115,422,808) |
|
Legal Representatives: |
Shuhong Lin |
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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
Awards
|
Year |
Awards |
|
2009 |
Blue chip
importer and exporter |
|
2010 |
Blue chip
importer and exporter |
|
2011 |
Blue chip
importer and exporter |
Standard of Blue
chip importer and exporter
Unit:
USD
|
Year |
Amount |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
2011 |
22,000,000 |
|
Name |
Subscription Shares |
|
Shuhong Lin |
21,560,326 |
|
Xinyi Zheng |
53,186,536 |
|
Longxing Liao |
24,196,908 |
|
Xuanyi Liao |
2,321,209 |
|
Xianjin Chen |
4,722,177 |
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Xiandong Lin |
17,317,422 |
|
Zheng Zheng |
15,284,230 |
|
Rongzong Chen |
113,597 |
|
Qiongyu Liao |
8,353,060 |
|
Qingrong Lin |
11,192,581 |
|
Wanzhi Zheng |
220,787 |
The information
above is that of subject’s major shareholders.
Branches and
factories
|
1 |
|
|
Address: |
8, Chung Hua Road,
Fong Shan Village, ShinChu Industry Park, ShinChu 303,
Taiwan |
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Telephone Number: |
+886-3-598-1511 |
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Fax Number: |
+886-3-598-1676 |
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2 |
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Address: |
14, Industry 1
Road, Jin-wu Industry Park, Kaohsiung 814, Taiwan |
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Telephone Number: |
+886-7-371-1301 |
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Fax Number: |
+886-7-371-0819 |
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3 |
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Address: |
8 Hwa-Shi Road,
DaFa Industry Park, Kaohsiung 831, Taiwan |
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Telephone Number: |
+886-7-787-2654 |
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Fax Number: |
+886-7-787-2408 |
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4 |
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Name: |
Mailiao Branch |
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Address: |
No.27 Formosa
Industrial Complex, Mailiao, Yunlin, 638 Taiwan |
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Telephone Number: |
+886-5-681-2790 |
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Fax Number: |
+886-5-681-2798 |
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Registered
Number |
70760209 |
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Manager Name: |
Xinyi Zheng |
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Date of
Incorporation: |
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Date of Last
Annual Return: |
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Core
Management
Directors
|
1 |
|
|
Name |
Shuhong Lin |
|
Position |
Board Chairman |
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2 |
|
|
Name |
Xinyi Zheng |
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Position |
Managing
Director |
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3 |
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Name |
Longxing Liao |
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Position |
Managing
Director |
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4 |
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Name |
Xuanyi Liao |
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Position |
Director |
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5 |
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Name |
Xianjin Chen |
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Position |
Director |
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6 |
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Name |
Xiandong Lin |
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Position |
Director |
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7 |
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Name |
Zheng Zheng |
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Position |
Director |
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8 |
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Name |
Rongzong Chen |
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Position |
Director |
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9 |
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Name |
Qiongyu Liao |
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Position |
Director |
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10 |
|
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Name |
Qingrong Lin |
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Position |
Supervisor |
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11 |
|
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Name |
Wanzhi Zheng |
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Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 3,000 Employees |
Offices
& Factories
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|
Headquarters |
|
Add |
Production
Information
l
Subject is a manufacture of chemicals for Textile Industry,
Electronic Industry, etc.
Purchase
Information
l
The major registered activities of subject:
|
Business Code |
Details |
|
C801050 |
Manufacture of plastic raw materials |
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C801020 |
Manufacture of petrochemical materials |
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CC01020 |
Manufacture of wire and cable. |
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CC01060 |
Manufacture of wire communication machinery |
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ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l Subject purchases
raw materials mainly abroad. While it is introduced that subject’s purchasing
all depends on the specific conditions and customers’ demands.
Sales
Information
l The subject is
mainly engaged in manufacturing and trading of chemical products for Chemical
Industry, Textile Industry, Electronic Industry, etc.
l
Major products sold as following:
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1 |
Product |
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2 |
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3 |
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4 |
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5 |
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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 |
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15 |
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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 |
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23 |
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24 |
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25 |
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26 |
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27 |
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28 |
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29 |
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30 |
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31 |
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32 |
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33 |
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34 |
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35 |
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36 |
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37 |
Others |
l
Subject introduced that subject has 4 factories
that help subject manufacture the chemical products.
l
Subject’s selling territory covers domestic and
foreign markets.
Import and export
right:
|
Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
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Raw materials, etc |
CBD, COD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
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Raw materials, etc |
CBD, etc |
100% |
Sales
Domestic Markets
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Sales Terms |
Proportion |
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Chemicals |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
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Chemicals |
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 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.
|
Name |
Mr. Chan |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.83.54 |
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Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report
Prepared by : |
PDT |
RATING EXPLANATIONS
|
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 |
-- |
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.