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Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
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Name : |
JANG JANG CO., LTD. |
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Registered Office : |
9Fl., No.62-5, Hsining N. Rd., Taipei |
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Country : |
Taiwan |
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Date of Incorporation : |
14.06.1976 |
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Com. Reg. No.: |
04344061 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
· Manufacturer and sales of textile including polyester filament yarn, polyester textured yarns, nylon filament yarns, nylon textured yarns, polyester dyed yarn, nylon dyed yarn, cationic yarns, thick and thin yarns, specialty yarns, and doped dyed yarns ·
Weaving, processing, domestic sales and export of
all kinds of synthetic fibre ·
Manufacturing, processing, domestic sales and
export of all kinds of flat fabric and knitwear |
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No. of Employees : |
About 120 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
TATUS |
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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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. 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 1.8%, due primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%, as exports returned to the level of previous years, and in 2011, grew 4.0%. In 2012, however, growth fell to 1.3%, 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 except for the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far Taiwan has been excluded from this greater economic integration in part because of its diplomatic status. Negotiations continue on such follow-on components of ECFA regarding trade in goods and services. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other key trade partners, which Taiwan subsequently launched with Singapore and New Zealand. 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 11.2% of the island's total population as of 2012. The island runs a large trade surplus largely because of its surplus with China, and its foreign reserves are the world's fifth largest, behind China, Japan, Saudi Arabia, and Russia. In 2006 China overtook 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. In August 2012, Taiwan Central Bank signed a memorandum of understanding on cross-Strait currency settlement with its Chinese counterpart. The MOU allows for the direct settlement of Chinese RMB and the New Taiwan dollar across the Strait, which could help develop Taiwan into a local RMB hub. 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.
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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: |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above.
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Credit Opinion: |
Subject was incorporated
on 1976-6-14 with registered number 04344061
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Bangxu Zhang |
3,283,500 |
|
Ximei Chen |
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3,120,000 |
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Meilan Zhang |
1,410,500 |
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Rongrao Zhang |
2,520,000 |
The information above is that of subject’s major shareholders.
Factories
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1 |
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Address: |
No. 388, Sec 1, Yuanlu Road, Wabei Village, Buxin Township, Zhanghua
County, Taiwan |
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Date of Foundation: |
1972-12-4 |
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Date of Registration: |
1973-5-21 |
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Factory Registration Number: |
99650844 |
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Factory Manager: |
Bangxu Zhang |
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Status: |
In Production |
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Date of Last Annual Return: |
2005-5-3 |
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Major Products: |
111 spinning 114 printing and
dyeing 122 garment 123 accessories |
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2 |
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Name: |
The 2nd Factory |
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Address: |
No.255, Liuqiao East Road, Wabei Village, Buxin Township, Zhanghua
County, Taiwan |
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Date of Foundation: |
1973-2-23 |
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Date of Registration: |
1973-5-24 |
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Factory Registration Number: |
99650382 |
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Factory Manager: |
Bangxu Zhang |
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Status: |
In Production |
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Date of Last Annual Return: |
2005-5-3 |
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Major Products: |
111 spinning |
Core
Management
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1 |
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Name |
Bangxu Zhang |
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Position |
Board Chairman |
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2 |
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Name |
Ximei Chen |
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Position |
Director |
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3 |
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Name |
Meilan Zhang |
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Position |
Director |
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4 |
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Name |
Rongrao Zhang |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 120 Employees |
Offices
& Factories
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|
Headquarters |
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Add |
Production
Information
l
Subject is engaged in manufacturing of textile
l
It is introduced that subject has two factories in
Zhanghua County, Taiwan for production.
Purchase
Information
l
The registered activities of subject:
|
1 |
Weaving, processing, domestic sales and
export of all kinds of synthetic
fibre |
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2 |
Manufacture, processing, domestic sales
and export of all kinds of flat fabric and knitwear |
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3 |
Manufacture, processing and sales of
self-adhesive split leather footwear, plastic artificial leather
footwear |
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4 |
Import, export and agent service of the
above items |
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5 |
Agent service, bidding service, price
quoting service and sales of the above mentioned business |
l
The raw materials for production are purchased from
both home and abroad such as Mainland China and Southeast Asia, etc.
l
Subject is engaged in sale of textile
l
The major products sold by subject include
polyester filament yarn, polyester textured yarns, nylon filament yarns, nylon
textured yarns, polyester dyed yarn, nylon dyed yarn, cationic yarns, thick and
thin yarns, specialty yarns, and doped dyed yarns
l
Subject’s sales regions include Asia, Europe and
America, etc.
l
Subject’s sells products with the brands “Black
Horse” and “Sun Brand”.
l
Subject’s major customers are Inversiones Tbg, S.A.
and Industrias Ferretti S.A. De C.V.
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
Domestic Purchase
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Terms |
Proportion |
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Raw
materials |
Cash,
T/T, etc |
100% |
Foreign Purchase
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Terms |
Proportion |
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L/C, T/T, etc |
100% |
Sales
Domestic Markets
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Terms |
Proportion |
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Textile,
etc |
Cash,
T/T, etc |
100% |
Export
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Terms |
Proportion |
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Textile,
etc |
L/C,
T/T, 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 Ms. Zhang 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
cannot obtain the relevant information, either.
Mortgage
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1 |
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
025425 |
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Debtor Name: |
Jang Jang Co., Ltd. |
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Document Number: |
136088 |
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Date of Registration: |
1986-6-3 |
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Date of Alteration: |
1986-6-3 |
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Status: |
Paid off |
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2 |
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
026496 |
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Debtor Name: |
Jang Jang Co., Ltd. |
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Document Number: |
332963 |
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Date of Registration: |
1986-12-9 |
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Date of Alteration: |
1986-12-9 |
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Status: |
Paid off |
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3 |
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
028897 |
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Debtor Name: |
Jang Jang Co., Ltd. |
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Document Number: |
315590 |
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Date of Registration: |
1987-10-27 |
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Date of Alteration: |
1987-10-27 |
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Status: |
Paid off |
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4 |
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
031718 |
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Debtor Name: |
Jang Jang Co., Ltd. |
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Document Number: |
293115 |
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Date of Registration: |
1988-10-6 |
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Date of Alteration: |
1988-10-6 |
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Status: |
Paid off |
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5 |
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
044718 |
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Debtor Name: |
Jang Jang Co., Ltd. |
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Document Number: |
198005 |
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Date of Registration: |
1994-3-30 |
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Date of Alteration: |
-- |
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Status: |
Paid off |
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6 |
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
055061 |
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Debtor Name: |
Jang Jang Co., Ltd. |
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Document Number: |
992275 |
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Date of Registration: |
1997-8-16 |
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Date of Alteration: |
-- |
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Status: |
Paid off |
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7 |
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Case Type: |
Chattel Mortgage |
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Certificate No.: |
057580 |
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Debtor Name: |
Jang Jang Co., Ltd. |
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Document Number: |
823292 |
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Date of Registration: |
1998-4-8 |
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Date of Alteration: |
-- |
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Status: |
Paid off |
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Zhang |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.67 |
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UK Pound |
1 |
Rs.100.65 |
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Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
-- |
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.