|
Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMSUNG C&T HONGKONG LTD. |
|
|
|
|
Formerly Known As : |
SAMSUNG HONGKONG LTD |
|
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|
|
Registered Office : |
8/F., |
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Country : |
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Date of Incorporation : |
22.06.1977 |
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|
|
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Com. Reg. No.: |
05203811 |
|
|
|
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Importer and Exporter, Commission Agent, Property Investment and Investment Holding · Subject’s major businesses activities include natural resources and trading in metals, steel, petrochemicals and plastics, textiles raw material, garments and also electronics products. |
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|
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No. of Employees : |
35 |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on
international trade and finance - the value of goods and services trade, including
the sizable share of re-exports, is about four times GDP. Hong Kong levies
excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong
Kong's open economy left it exposed to the global economic slowdown that began
in 2008. Although increasing integration with China, through trade, tourism,
and financial links, helped it to make an initial recovery more quickly than
many observers anticipated, it again faces a possible slowdown as exports to
the Euro zone and US slump. The Hong Kong government is promoting the Special
Administrative Region (SAR) as the site for Chinese renminbi (RMB)
internationalization. Hong Kong residents are allowed to establish RMB-denominated
savings accounts; RMB-denominated corporate and Chinese government bonds have
been issued in Hong Kong; and RMB trade settlement is allowed. The territory
far exceeded the RMB conversion quota set by Beijing for trade settlements in
2010 due to the growth of earnings from exports to the mainland. RMB deposits
grew to roughly 9.1% of total system deposits in Hong Kong by the end of 2012,
an increase of 59% from the previous year. The government is pursuing efforts
to introduce additional use of RMB in Hong Kong financial markets and is
seeking to expand the RMB quota. The mainland has long been Hong Kong's largest
trading partner, accounting for about half of Hong Kong's exports by value.
Hong Kong's natural resources are limited, and food and raw materials must be
imported. As a result of China's easing of travel restrictions, the number of
mainland tourists to the territory has surged from 4.5 million in 2001 to 34.9
million in 2012, outnumbering visitors from all other countries combined. Hong
Kong has also established itself as the premier stock market for Chinese firms
seeking to list abroad. In 2012 mainland Chinese companies constituted about
46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for
about 57.4% of the Exchange's market capitalization. During the past decade, as
Hong Kong's manufacturing industry moved to the mainland, its service industry
has grown rapidly. Growth slowed to 5% in 2011, and less than 2% in 2012.
Credit expansion and tight housing supply conditions caused Hong Kong property
prices to rise rapidly and inflation to rise 4.1% in 2012. Lower and middle
income segments of the population are increasingly unable to afford adequate
housing. Hong Kong continues to link its currency closely to the US dollar, maintaining
an arrangement established in 1983
Source
: CIA
SAMSUNG C&T HONGKONG
LTD.
ADDRESS: 8/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
PHONE: 852-2862 6000
FAX: 852-2862 6484
E-MAIL: phcho@samsungcorp.com
Managing Director: Mr. Kim Hyun Jun
Incorporated on: 22nd June, 1977.
Organization: Private Limited Company.
Capital: Nominal:HK$557,825,000.00
Issued: HK$557,825,000.00
Business Category: Importer and Exporter, Commission Agent, Property Investment and Investment Holding.
Samsung C&T Group Net Sales:-
KRW 25,325,925 million (Year ended 31-12-2012)
Employees: 35.
Main Dealing Bankers: China Construction Bank (Asia) Corporation Ltd., Hong Kong.
Citibank N.A., Hong Kong Branch.
Banking Relation: Good.
Registered Head
Office:-
8/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
China Offices: Guangzhou, Shenzhen, Shantou, Xiamen and Shanghai.
Holding Company:-
Samsung C&T Corporation, South Korea.
Ultimate Holding
Company:-
Samsung Electronics Co. Ltd., South Korea.
Sister &
Associated Companies:-
Samsung Electronics Group of Companies
Bluetek Co. Ltd., South Korea.
Cheil Industries Inc., South Korea.
Hangzhou Samsung Eastcom Network Technology Co. Ltd., China.
International Cyber Marketing Inc., South Korea.
Living Plaza Co. Ltd., South Korea.
P.T. Samsung Electronics Indonesia, Indonesia.
P.T. Samsung Telecommunications Indonesia, Indonesia.
S1 Corporation, South Korea.
Samsung (China) Investment Co. Ltd., China.
Samsung Asia Pte. Ltd., Singapore.
Samsung Austin Semiconductor LLC, USA.
Samsung BP Chemicals Co. Ltd., South Korea.
Samsung Card Co. Ltd., South Korea.
Samsung Corning (HK) Ltd., Hong Kong.
Samsung Corning Advanced Glass LLC, Korea.
Samsung Corning Precision Glass Co. Ltd., South Korea.
Samsung Display Corporation, Korea.
Samsung Electro-Mechanics (H.K.) Ltd., Hong Kong.
Samsung Electro-Mechanics Co. Ltd., South Korea.
Samsung Electronica Columbia S.A., Columbia.
Samsung Electronica Da Amazonia Ltda., Brazil.
Samsung Electronics (Shandong) Digital Printing Co. Ltd., China.
Samsung Electronics (UK) Ltd., UK.
Samsung Electronics America Inc., USA.
Samsung Electronics Argentina S.A., Argentina.
Samsung Electronics Australia Pty. Ltd., Australia.
Samsung Electronics Austria GmbH, Austria.
Samsung Electronics Beijing Sales Co., China.
Samsung Electronics Beijing Service Co. Ltd., China.
Samsung Electronics Benelux B.V., the Netherlands.
Samsung Electronics Canada Inc., Canada.
Samsung Electronics Display (M) Sdn. Bhd., Malaysia.
Samsung Electronics Europe Logistics B.V., the Netherlands.
Samsung Electronics France S.A., France.
Samsung Electronics GmbH, Germany.
Samsung Electronics H.K. Co. Ltd., Hong Kong.
Samsung Electronics Hainan Fiberoptics Co. Ltd., China.
Samsung Electronics Hainan Fiberoptics Korea Co. Ltd., South Korea.
Samsung Electronics Holding GmbH, Germany.
Samsung Electronics Huizhou Co. Ltd., China.
Samsung Electronics Hungarian Co. Ltd., Hungary.
Samsung Electronics Iberia S.A., Spain.
Samsung Electronics Italia S.p.A., Italy.
Samsung Electronics Kazakhstan, Kazakhstan.
Samsung Electronics Latinoamerica (Zona Libre) S.A., Panama.
Samsung Electronics Latinoamerica Colombia S.A., Colombia.
Samsung Electronics Latinoamerica Miami Inc., USA.
Samsung Electronics Logitech Co. Ltd., South Korea.
Samsung Electronics Malaysia Sdn. Bhd., Malaysia.
Samsung Electronics Manufacturing (UK) Ltd., UK.
Samsung Electronics Mexico S.A. de C.V., Mexico.
Samsung Electronics Nordic AB, Sweden.
Samsung Electronics Overseas B.V., the Netherlands.
Samsung Electronics Philippine Manufacturing Corporation, Philippines.
Samsung Electronics Philippines Corporation, Philippines.
Samsung Electronics Poland Sp.zo.o., Poland.
Samsung Electronics Portuguesa S.A., Portugal.
Samsung Electronics Russia Co. Ltd., Russia.
Samsung Electronics Service Co. Ltd., South Korea.
Samsung Electronics Shanghai Sales Co., China.
Samsung Electronics Shenzhen Co. Ltd., China.
Samsung Electronics Slovakia s.r.o., Slovakia.
Samsung Electronics South Africa (Pty) Ltd., South Africa.
Samsung Electronics Suzhou Computer Co. Ltd., China.
Samsung Electronics Suzhou LCD Co. Ltd., China.
Samsung Electronics Suzhou Semiconductor Co. Ltd., China.
Samsung Electronics Taiwan Co. Ltd., Taiwan.
Samsung Electronics Ukraine, Ukraine.
Samsung Engineering Co. Ltd., South Korea.
Samsung Everland Inc., South Korea.
Samsung Fine Chemicals Co. Ltd., South Korea.
Samsung Fire & Marine Insurance Co. Ltd., South Korea.
Samsung Gulf Electronics FZE, UAE.
Samsung Gwangju Electronics Co. Ltd., South Korea.
Samsung Heavy Industries Co. Ltd., South Korea.
Samsung India Electronics Ltd., India.
Samsung India Software Operations Pvt. Ltd., India.
Samsung Information Systems America Inc., USA.
Samsung International Inc., USA.
Samsung Investment Trust Management Co. Ltd., South Korea.
Samsung Japan Co. Ltd., Japan.
Samsung Kwangju Electronics Co. Ltd., South Korea.
Samsung Life Insurance Co. Ltd., South Korea.
Samsung Logistics (China) Ltd., Hong Kong.
Samsung Malaysia Electronics Sdn. Bhd., Malaysia.
Samsung Mexicana S.A. de C.V., Mexico.
Samsung Networks Inc., South Korea.
Samsung Petrochemical Co. Ltd., South Korea.
Samsung Receivables Corporation, USA.
Samsung Russia Service Center Ltd., Russia.
Samsung SDI (Hong Kong) Ltd., Hong Kong.
Samsung SDI Co. Ltd., South Korea.
Samsung SDS Co. Ltd., South Korea.
Samsung Securities Co. Ltd., South Korea.
Samsung Semiconductor China R&D Ltd., China.
Samsung Semiconductor Europe GmbH, Germany.
Samsung Semiconductor Europe Logistics B.V., the Netherlands.
Samsung Semiconductor Europe Ltd., UK.
Samsung Semiconductor France S.A.R.L., France.
Samsung Semiconductor Inc., USA.
Samsung Semiconductor International Inc., USA.
Samsung Semiconductor Italia S.R.L., Italy.
Samsung Semiconductor Mexico S.A. de C.V., Mexico.
Samsung Semiconductor Sweden AB, Sweden.
Samsung Techwin Co. Ltd., South Korea.
Samsung Telecommunications America Inc., USA.
Samsung Telecommunications Benelux, the Netherlands.
Samsung Telecommunications India, India.
Samsung Telecoms (UK) Ltd., UK.
Samsung Total Petrochemicals Co. Ltd., South Korea.
Samsung Venture Investment Corporation, South Korea.
Samsung Vina Electronics Co. Ltd., Vietnam.
Secron Co. Ltd., South Korea.
SEMES America Inc., USA.
SEMES Co. Ltd., South Korea.
Shanghai Samsung Semiconductor Co. Ltd., China.
Shenzhen Samsung Kejian Mobile Telecommunication Technology Co. Ltd., China.
Shilla Hotels & Resorts Co. Ltd., South Korea.
S-LCD Corporation, South Korea.
STECO Co. Ltd., South Korea.
Suzhou Samsung Electronics Co. Ltd., China.
Symbian Ltd., UK.
Tasman Properties Inc., USA.
Thai-Samsung Electronics Co. Ltd., Thailand.
Tianjin Samsung Electronics Co. Ltd., China.
Tianjin Samsung Electronics Display Co. Ltd., China.
Tianjin Samsung Telecom Technology Co. Ltd., China.
Tianjin Tongguang Samsung Electronics Co. Ltd., China.
etc.
05203811
0053922
Managing Director: Mr. Kim Hyun Jun
Nominal Share Capital: HK$557,825,000.00 (Divided into 111,565 shares of HK$5,000.00 each)
Issued Share Capital: HK$557,825,000.00
SHAREHOLDERS: (As per registry dated 22-06-2013)
|
Name |
|
No. of shares |
|
Samsung C&T Corporation Samsung C&T Corporation Building, 1321-20, Seocho 2-Dong, Seocho-Gu, Seoul, 137-857 South Korea. |
|
111,563 |
|
KIM Hyun Jun |
|
2 |
|
|
|
––––––– |
|
|
Total: |
111,565 ====== |
DIRECTORS: (As per registry dated 22-06-2013)
|
Name (Nationality) |
Address |
|
KIM Hyun Jun |
Flat G, 19/F., Oak Mansion, Harbour View Gardens, 20 Tai Koo Wan Road, Taikoo Shing, Hong Kong. |
|
Seong Soo CHO |
Flat B, 56/F., Tower 1, Sorrento, 1 Austin Road West, Kowloon, Hong Kong. |
SECRETARY: KIM
Hyun Jun (As per registry dated
22-06-2013)
The subject was incorporated on 22nd June, 1977 as a private limited liability company under the Hong Kong Companies Ordinance. Originally the subject was registered under the name of Samsung Moolsan (H.K.) Ltd., name changed to Samsung Hongkong Ltd. on 2nd March, 1990, and further to Samsung C&T Hongkong Ltd. on 21st December, 2010.
Formerly the subject was located at 65/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong, moved to 31/F., The Center, 99 Queen’s Road Central, Hong Kong in November 1998, moved to 43/F., & Suite 4506-4514, 45/F. Two International Finance Centre, 8 Finance Street, Central, Hong Kong and further moved to the present address in April 2008.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer and Exporter, Commission Agent, Property Investment and Investment Holding.
Lines: All kinds of Korean products including textiles, daily items, industrial chemicals, machineries and equipments, marine supplies, steel products and hardwares, electronic products, etc.
Employees: 35.
Commodities Imported:-
Coal – China.
Chemical products – Indonesia and Korea.
Steel – China.
Textiles – Indonesia.
Markets: Korea, Vietnam and China.
Samsung C&T Group Net Sales:-
KRW 18,499,159 million (Year ended 31-12-2009)
KRW 17,755,863 million (Year ended 31-12-2010)
KRW 21,545,515 million (Year ended 31-12-2011)
KRW 25,325,925 million (Year ended 31-12-2012)
Terms/Sales: L/C (main), T/T, D/P, etc.
Terms/Buying: L/C (main), etc.
MEMBERSHIP: The Korean Chamber of Commerce in Hong Kong, Hong Kong.
Nominal Share Capital: HK$557,825,000.00 (Divided into 111,565 shares of HK$5,000.00 each)
Issued Share Capital: HK$557,825,000.00
Increases/(decrease) of Nominal Capital:-
|
From |
HK$ 500,000.00 |
to |
HK$ 4,000,000.00 |
on |
20-07-1985 |
|
From |
HK$ 4,000,000.00 |
to |
HK$ 40,000,000.00 |
on |
07-10-1993 |
|
From |
HK$ 40,000,000.00 |
to |
HK$ 180,000,000.00 |
on |
19-12-1997 |
|
From |
HK$ 180,000,000.00 |
to |
HK$ 329,480,000.00 |
on |
30-06-1998 |
|
From |
HK$ 329,480,000.00 |
to |
HK$1,138,260,000.00 |
in |
Dec. 2002 |
|
From |
HK$1,138,260,000.00 |
to |
HK$1,912,760,000.00 |
on |
07-10-2005 |
|
From |
(HK$1,912,760,000.00) |
to |
(HK$ 557,825,000.00) |
on |
19-11-2010 |
Alternation of Issued Capital:-
|
15-07-1977 |
paid up |
HK$ 500,000.00 |
|
20-08-1985 |
paid up |
HK$ 3,500,000.00 |
|
07-10-1993 |
paid up |
HK$ 36,000,000.00 |
|
19-12-1997 |
paid up |
HK$ 140,000,000.00 |
|
30-06-1998 |
paid up |
HK$ 149,480,000.00 |
|
Dec. 2002 |
Paid up |
HK$ 808,780,000.00 |
|
07-10-2005 |
paid up |
HK$ 774,500,000.00 |
|
19-11-2010 |
reduced |
(HK$1,354,935,000.00 ) |
|
|
|
––––––––––––––––––– |
|
Total: |
paid up |
HK$ 557,825,000.00 ================ |
Mortgage or Charge:-
Date of Assignment of DC Proceeds re export bills restricted to other banks for negotiation/payment: 20-05-2000
Amount: All loans or other advances made or to be made by the Bank to the Customer against documents submitted under a Documentary Credit, all monies and liabilities in any currency owing by the Customer to the Bank at any time, whether separately or jointly, actually or contingently, present or future, interest on all loans and advances and such monies and all expenses of the Bank in perfecting or enforcing the Assignment
Property: By way of assignment or agreement to assign in each case as beneficial owner. All monies in any currency representing proceeds payable or to be paid to the Customer under the Documentary Credits, all the Customer’s right, title and interest in the said Documentary Credits and the benefit of all powers and remedies for enforcing the Documentary Credits
Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Samsung C&T Group Net Income:-
KRW 307,732 million (Year ended 31-12-2009)
KRW 485,633 million (Year ended 31-12-2010)
KRW 402,041 million (Year ended 31-12-2011)
KRW 450,610 million (Year ended 31-12-2012)
Profit or Loss: Business is profitable.
Condition: Business is active and steady.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: good.
Bankers:-
China Construction Bank (Asia) Corporation Ltd., Hong Kong.
Citibank N.A., Hong Kong Branch.
JPMorgan Chase Bank N.A., Hong Kong Branch.
Korea Commercial Finance Ltd., Hong Kong.
Korea Exchange Bank, Hong Kong Branch.
Standard Chartered International (USA) Ltd., Hong Kong Branch.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Very good.
Previously known as Samsung Hongkong Ltd., Samsung C&T Hongkong Ltd. is a wholly-owned subsidiary of Samsung C&T Corporation [Samsung C&T] (formerly known as Samsung Corporation) which is a South Korea-based firm. The subject adopted the present style in late December 2010. It changed its minor shareholder and Managing Director in April 2011.
Samsung C&T was incorporated in 1952. It is engaged in construction and engineering business in the global markets.
The subject’s ultimate holding company Samsung Electronics Co. Ltd. [Samsung Electronics] is also a South Korea-based firm. Samsung Electronics is an investment holding company of the Samsung Electronics Group. The Samsung Electronics Group, one of the leading business conglomerates in South Korea, is composed of about 50 associates including Samsung Electro-Mechanics Co. Ltd., Samsung SDI Co. Ltd., Samsung SDS Co. Ltd., Samsung Corning Precision Glass Co. Ltd., etc.
The subject has dedicated itself to global trading since its incorporation in 1977. Being one of the major subsidiaries of Samsung Electronics, the subject has developed into a leading player in global trading and actively engaged in many investment and local businesses opportunities in China.
The subject’s major businesses activities include natural resources and trading in metals, steel, petrochemicals and plastics, textiles raw material, garments and also electronics products.
Samsung C&T has had the following divisions:-
Engineering & Construction Division
Trading & Investment Davison
The subject is trading in the following commodities:
Piecegoods - Vegetable Fibre (Cotton fabric, cotton row)
Piecegoods - Blended (T/C, rayon fabric)
Piecegoods - Synthetic (Polyester fabric)
Lycra & Spandex (Cotton spandex denim/poplin)
Yarn - Blended ( Excl Polyester / Cotton) (Rayon filament yarn, bright)
Yarn - Cotton & Polyester / Cotton (Cotton yarn)
Yarn - Synthetic (Excl Acrylic & Nylon) (Polyester spun yarns)
Thread (Sewing thread)
Ferrous Metal (From Korea & China)
Industrial Chemicals
The subject is chiefly trading in textile products. It also trades in ferrous metal and industrial chemicals which are sideline businesses.
Engaged in the above businesses, the subject continues to expand its third party trading, enlarge the local sales market and the value-added businesses in China. Now the subject is the holding company of three trading subsidiaries in the Free Trade Zone of Tianjin, Shanghai, Guangzhou in China.
Furthermore, the subject is using the representatives offices in Shenzhen SEZ, Shantou SEZ, Xiamen, Guangzhou and Shanghai to consolidate its sales network.
Now, the subject has set up the following departments: Accounting Department, Finance Department, IT Department, Personnel & Administration Department, Textile Department, Metal Department (HK Metal and Shanghai Metal), Business Development Department, Chemical Department.
The subject’s Finance Department is a very important department in the subject. It is acting as a financial arm to support its head office Samsung Electronics and China branches and its sales departments. It aims at providing an effective and efficient financing channel to facilitate the subject’s growing trading businesses.
In order to cope with its daily transaction between the subject and its parent Samsung Electronics and trading partners, Letter of Credit [LC] is frequently used for the international trade settlement. The Finance Department is controlling the risks involved in LC transactions. Also to optimise the subject’s capital structures from both an economic and strategic perspective, the finance department is actively engaged in making long-term syndication loan from international bank group.
Founded in 1938, Samsung Electronics is now the largest general trading company in South Korea specialised in exporting heavy and chemical products such as iron and steel, chemicals, plant facilities, garments, etc.
It has had over 65 overseas branches and 30 overseas subsidiaries throughout the world.
Intensifying trade with the Eastern Europe, Samsung Electronics also has established branches in Moscow, Poland, etc. and has founded production plants for VCRs and refrigerators in China. In addition, Samsung Electronics has set up a joint venture in Hungary dealing in products such as C-TVs and Braun tubes.
The subject is one of the important overseas subsidiaries of the Group. The subject has dedicated itself to global trading since it’s incorporation in 1977. It has developed Sino-Korean trades since 1979.
Samsung Electronics is in the forefront of Internet business in South Korea with the largest Internet shopping mall, Internet broadcasting and on-line merchant trading system in Korea. The subject now has brought the business models in Internet from its parent company into the Greater China.
In 1999, The subject made investment in AUNET.COM (name changed to iAasiaworks.com), a promising internet solution provider.
The net sales of Samsung C&T Group were KRW 21,545,515 million and KRW 25,325,925 million for the year ended 31st December, 2011 and 2012 respectively, grew by 17.5%. Net incomes were KRW 402,041 million and KRW 450,610 million for the year ended 31st December, 2011 and 2012 respectively, grew by 12.1%.
The subject is fully supported by its holding company and ultimately by Samsung Electronics Group. History in Hong Kong is over 36 years.
On the whole, in view of the background and parentage of the subject, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.98 |
|
|
1 |
Rs.101.49 |
|
Euro |
1 |
Rs.84.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.