|
Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
LCY CHEMICAL CORP. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
06.11.1965 |
|
|
|
|
Com. Reg. No.: |
39054405 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and sales of Petrochemical raw
materials |
|
|
|
|
No. of Employees : |
About 1,745 employees |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
|
|
E-mail: |
Notes: Subject’s exact name and address are as
above and subject did not introduce the supplied address.
|
Registered Name: |
LCY CHEMICAL CORP. |
|
Registered Address: |
|
|
Date of Foundation: |
|
|
Registration Number: |
39054405 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs,
R.O.C. |
|
Registered Capital: |
NTD
10,000,000,000 (USD 339,000,000) (As of 2013.01, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 8,532,423,680 (USD 289,249,163) |
|
Legal Representatives: |
Mouwei Li |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
Yes Stock
Symbol: 1704
|
|
Date of Last Annual Return: |
Subject was incorporated on
Subject was listed on Taiwan Stock Exchange on
Change of Name:
|
Former English Name |
Lee Chang Yung Chemical Industry Corporation |
|
Current English Name |
LCY Chemical Corp. |
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 |
|
Mouwei Li |
68,090,515 |
|
Taiwan Polypropylene Co., Ltd. |
|
|
3,389,734 |
|
|
Li Cheng Enterprises Co., Ltd (Literal Translation) |
83,694,561 |
The information above is that of subject’s major shareholders.
Branch:
|
Branch Registered Number |
53016522 |
|
Branch Status |
Active |
|
Branch Name |
Nanzi Branch |
|
Branch Manager |
Congxian Shi |
|
Branch Address: |
No. 16, Zhonglin Road, Xiaogang District, Kaohsiung, Taiwan |
|
Date of Incorporation |
|
Group Companies (factories)
|
Zhenjiang LCY General Chemical Co., Ltd. |
It is introduced that subject has factories in Kaohsiung, Siaogang,
Linyuan and Ta-She, Taiwan, but the detailed address are not disclosed.
Core Management
Directors
|
1 |
|
|
Name |
Mouwei Li |
|
Position |
Board Chairman & Manager |
|
Date of Appointment |
|
|
2 |
|
|
Name |
Shouren Wang |
|
Position |
Director |
|
3 |
|
|
Name |
Saifen Yang |
|
Position |
Director |
|
4 |
|
|
Name |
Minggong Li |
|
Position |
Director |
|
5 |
|
|
Name |
Zhengcheng Wei |
|
Position |
Director |
|
6 |
|
|
Name |
Xianjin Wu |
|
Position |
Director |
|
7 |
|
|
Name |
Congxian Shi |
|
Position |
Director |
|
8 |
|
|
Name |
Xunjia Zhuang |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Kuncan Wang |
|
Position |
Supervisor |
Offices &
Factories
|
|
Headquarters |
|
Add |
|
Production
Information
Subject is engaged in manufacture of polypropylene (PP), solvents and
other chemical products and it has 4 factories in Taiwan and four factories (related
Companies) in China and also a manufacturing site in USA, while the details are
not disclosed.
It is introduced that all of subject’s plants have been ISO 14001
certified
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
C801020 |
Manufacture of chemical materials |
|
C801100 |
Manufacture of China Synthetic Resin and Plastics |
|
C801060 |
|
|
G801010 |
Warehousing Industry |
|
C801010 |
Basic Chemical Industry |
|
C802120 |
Manufacture of industrial additives |
|
C802200 |
Manufacture of Coating paint dye and pigment |
|
F107990 |
Wholesales of other chemical products |
|
F207990 |
Retails of other chemical products |
|
D201040 |
Liquefied petroleum gas (LPG) packaging industry |
|
C803011 |
Oil Refinery Industry |
|
JE01010 |
Leasing Industry |
|
F112040 |
Wholesales of petroleum products |
|
F212050 |
Retails of petroleum products |
|
F401010 |
International Trading Business |
|
F112010 |
Wholesales of Petrol ang diesel fumes |
|
F107200 |
Wholesales of chemical materials |
|
F207200 |
Retails of chemical materials |
|
F401151 |
Import of petroleum |
|
F401100 |
Export of petroleum |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject purchases raw materials both at home
and abroad.
Subject is engaged in distribution of polypropylene
(PP), solvents and other chemical products. And it provides methanol products,
including methanol, formaldehyde, paraformaldehyde and dimethyl ether, among
others; solvents, including ethyl acetate, isopropyl alcohol and methyl
isobutyl ketone, as well as electronic chemical products, PP related products,
thermoplastic rubber and liquefied petroleum gas (LPG).
Subject’s products are applied in the manufacture of resins,
agricultural pesticides, catalysts, medicines, paintings, inks, artificial
leather products, shoes, industrial products, electronic components, toys and
electrical appliances, etc
Subject’s products are both sold in domestic and overseas market
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, etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Product |
Sales Terms |
Proportion |
|
Petrochemical raw materials, etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Petrochemical raw materials, etc |
CBD, etc |
100% |
Unit: NTD/000
|
|
|
|
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
567,897 |
883,541 |
|
Financial assets measured at fair value through profit or loss -
current |
23,934 |
167,051 |
|
Available-for-sale financial assets - current |
980,302 |
123,030 |
|
Financial assets carried at cost - current |
0 |
33,000 |
|
Notes receivable - net |
125,288 |
90,860 |
|
Accounts receivable - net |
1,206,823 |
1,184,689 |
|
Accounts receivable - related parties - net |
40,993 |
74,751 |
|
Other receivables |
319,116 |
211,333 |
|
Other receivables - related parties |
30,915 |
31,747 |
|
Inventories |
3,505,530 |
2,952,143 |
|
Prepaid expenses |
28,113 |
23,124 |
|
Other prepayments |
181,820 |
156,825 |
|
Other current assets |
138,353 |
139,002 |
|
Current assets |
7,149,084 |
6,071,096 |
|
Funds and Investments |
|
|
|
Financial assets carried at cost - non current |
325,479 |
373,870 |
|
Equity investments under equity method |
19,475,825 |
20,078,430 |
|
Investments |
19,475,825 |
20,078,430 |
|
Funds and long-term investments |
19,801,304 |
20,452,300 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
2,635,181 |
2,635,181 |
|
Buildings and structures |
751,153 |
597,230 |
|
Machinery and equipment |
9,051,633 |
7,492,128 |
|
Transportation equipment |
77,840 |
76,004 |
|
Other facilities |
1,254,612 |
930,289 |
|
Revaluation increment |
1,993,463 |
1,993,463 |
|
Cost and revaluation increment |
15,763,882 |
13,724,295 |
|
Accumulated depreciation |
-7,765,302 |
-7,218,202 |
|
Construction in process and prepayment for equipments |
712,183 |
2,229,502 |
|
Fixed assets |
8,710,763 |
8,735,595 |
|
Intangible Assets |
|
|
|
Patents |
4,341 |
5,247 |
|
Computer software cost |
11,484 |
6,647 |
|
Other intangible assets |
36,044 |
99,182 |
|
Intangible assets |
51,869 |
111,076 |
|
OtherAssets |
|
|
|
Idled assets |
664,611 |
664,611 |
|
Guarantee deposits paid |
15,889 |
14,877 |
|
Deferred charges |
32,832 |
47,527 |
|
Long-term notes and accounts receivable - related parties |
0 |
10,363 |
|
Other assets - other |
37,463 |
675 |
|
Other assets |
750,795 |
738,053 |
|
Assets |
36,463,815 |
36,108,120 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
482,279 |
7,767,709 |
|
Notes payable |
113,022 |
5,164 |
|
Accounts payable |
2,027,198 |
1,835,451 |
|
Accounts payable - related parties |
5,755 |
3,643 |
|
Income tax payable |
99,598 |
43,012 |
|
Accrued expenses |
456,106 |
546,743 |
|
Other payables |
165,859 |
221,686 |
|
Advance receipts |
93,803 |
47,129 |
|
Long-term liabilities - current portion |
180,556 |
1,428,571 |
|
Other current liabilities |
1,615 |
1,838 |
|
Current liabilities |
3,625,791 |
11,900,946 |
|
Long term Liabilities |
|
|
|
Bonds payable |
1,949,469 |
0 |
|
Long-term borrowings |
6,619,444 |
500,000 |
|
Long-term deferred revenues |
58,313 |
70,480 |
|
Long-term liabilities |
8,627,226 |
570,480 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
994,802 |
994,802 |
|
Reserves |
994,802 |
994,802 |
|
Other Liabilities |
|
|
|
Guarantee deposits received |
4,487 |
5,247 |
|
Deferred income tax liabilities |
2,230,091 |
1,873,934 |
|
Other liabilities - other |
6,362 |
5,555 |
|
Other liabilities |
2,240,940 |
1,884,736 |
|
Liabilities |
15,488,759 |
15,350,964 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
8,032,424 |
7,505,344 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
3,991,145 |
2,481,556 |
|
Capital surplus - treasury stock transactions |
274,124 |
322,857 |
|
Capital surplus - donated assets received |
9,401 |
9,401 |
|
Capital surplus - long-term equity investments |
117,076 |
13,504 |
|
Capital surplus - premium from merger |
3,600,616 |
3,635,942 |
|
Capital surplus - employee stock option |
1,336 |
32,080 |
|
Capital surplus - stock option |
52,304 |
0 |
|
Capital surplus |
8,046,002 |
6,495,340 |
|
Retained Earnings |
|
|
|
Legal reserve |
2,140,979 |
1,909,553 |
|
Special reserve |
15,473 |
15,473 |
|
Unappropriated retained earnings |
1,829,431 |
3,562,167 |
|
Retained earnings |
3,985,883 |
5,487,193 |
|
Stockholders' Equity and Other adjustmen |
|
|
|
Cumulative translation adjustments |
-655,101 |
-146,646 |
|
Unrealized gains (losses) on financial instruments |
19,394 |
43,840 |
|
Unrealized Revaluation Increment |
1,546,454 |
1,546,454 |
|
Treasure stock |
0 |
-174,369 |
|
Equity adjustments |
910,747 |
1,269,279 |
|
Stockholdersˉ equity |
20,975,056 (USD
711,054,398) |
20,757,156 (USD
703,667,588) |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
0 |
7,100,000 |
|
|
0.00 |
0.00 |
(As of 2013.01, 1 NTD = 0.0339 USD)
Unit: NTD/000
|
|
2012-1-1 ~ |
~ |
|
Sales |
21,814,779 (USD
739,521,008) |
23,186,590 (USD
786,025,401) |
|
Sales returns |
16,427 |
33,568 |
|
Sales discounts and allowances |
4,657 |
18,200 |
|
Sales |
21,793,695 |
23,134,822 |
|
Rental revenue |
137,279 |
99,755 |
|
Operating income |
21,930,974 |
23,234,577 |
|
Cost of sales |
19,803,366 |
20,916,901 |
|
Cost of rental |
48,489 |
50,936 |
|
Operating costs |
19,851,855 |
20,967,837 |
|
Gross profit (loss) from operations |
2,079,119 |
2,266,740 |
|
Unrealized gains on intercompany transactions |
-35 |
4,351 |
|
Realized gains on intercompany transactions |
0 |
4,813 |
|
Selling expense |
755,521 |
808,058 |
|
General and administrative expenses |
217,746 |
350,029 |
|
Research and development expenses |
112,768 |
160,813 |
|
Operating expenses |
1,086,035 |
1,318,900 |
|
Operating income (loss) |
993,119 |
948,302 |
|
Non-Operating Income |
|
|
|
Interest income |
1,234 |
1,139 |
|
Inome from long-term equity investments under the equity method |
151,328 |
1,826,153 |
|
Dividends |
4,334 |
29,899 |
|
Investment income |
155,662 |
1,856,052 |
|
Gains on sale of investments |
0 |
166,432 |
|
Foreign exchange gains |
27,658 |
0 |
|
Reversal of provision for bad debts |
0 |
506 |
|
Revaluation gain on financial assets |
0 |
140,399 |
|
Miscellaneous income |
98,469 |
79,084 |
|
Non-operating revenues and gains |
283,023 |
2,243,612 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
86,188 |
47,239 |
|
Loss on sale of investments |
31,323 |
0 |
|
Foreign exchange losses |
0 |
62,433 |
|
Impairment loss on assets |
0 |
1,784 |
|
Revaluation loss on financial assets |
30,935 |
0 |
|
Miscellaneous disbursements |
9,267 |
6,077 |
|
Non-operating expenses and losses |
157,713 |
117,533 |
|
Income from continuing operations before income tax |
1,118,429 |
3,074,381 |
|
Income tax expense (benefit) |
526,224 |
584,497 |
|
Income from continuing operations |
592,205 |
2,489,884 |
|
Net income (loss) |
592,205 (USD 20,075,750) |
2,489,884 (USD 84,407,068) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
0.74 |
3.40 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
0.74 |
3.40 |
(As of 2013.01, 1 NTD = 0.0339 USD)
Unit: NTD/000
|
|
2012-1-1 ~ |
~ |
|
|
|
|
|
Net Income
(Loss) |
592,205 |
2,489,884 |
|
Adjustments to
Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation
Expense |
470,754 |
366,400 |
|
Amortization
Expense |
62,834 |
88,464 |
|
Share-based
Compensation |
1,335 |
168,533 |
|
Amortization of Discounts
(Premiums) on Bonds Payable |
678 |
0 |
|
Investment Loss
(Income) Recognized under Equity Method |
-151,328 |
-1,826,153 |
|
Cash Dividends
Received from Investments Accounted for under Equity Method |
163,290 |
0 |
|
Loss (Gain) on Disposal
of Investments |
31,323 |
-166,432 |
|
Unrealized
Revaluation Loss (Gain) on Financial Assets and Liabilities |
129,533 |
-145,532 |
|
Impairment
Losses on Financial Asset |
0 |
1,784 |
|
Loss (Gain) on
Deferred Income Tax |
326,216 |
367,897 |
|
Other
Adjustments to Reconcile Net Income |
1,372 |
177 |
|
Changes in
Operating Assets and Liabilities |
|
|
|
Decrease
(Increase) in Financial Assets Held for Trading |
-136,802 |
2,131 |
|
Decrease
(Increase) in Notes Receivable |
-15,772 |
20,347 |
|
Decrease
(Increase) in Accounts Receivable |
-66,411 |
-177,191 |
|
Decrease
(Increase) in Accounts Receivable - Related Parties |
44,363 |
-32,718 |
|
Decrease
(Increase) in Other Receivables |
2,221 |
74,538 |
|
Decrease (Increase)
in Other Receivable- Related Parties |
17,179 |
8,675 |
|
Decrease
(Increase) in Inventories |
-479,693 |
-470,387 |
|
Decrease
(Increase) in Prepaid Expenses |
-7,939 |
-7,739 |
|
Decrease
(Increase) in Other Prepayments |
-68,733 |
-77,147 |
|
Decrease
(Increase) in Other Current Assets |
9,767 |
-34,425 |
|
Decrease
(Increase) in Other Operating Assets |
10,294 |
10,287 |
|
Increase
(Decrease) in Notes Payable |
108,783 |
3,324 |
|
Increase
(Decrease) in Accounts Payable |
2,879 |
115,675 |
|
Increase
(Decrease) in Accounts Payable - Related Parties |
-1,965 |
-10,269 |
|
Increase
(Decrease) in Income Tax Payable |
29,829 |
-186,328 |
|
Increase
(Decrease) in Accrued Expenses |
-215,407 |
-124,398 |
|
Increase
(Decrease) in Other Payables |
8,793 |
74,316 |
|
Increase
(Decrease) in Other Payable - Related Parties |
0 |
-1,290 |
|
Increase
(Decrease) in Receipts in Advance |
1,927 |
-40,933 |
|
Increase
(Decrease) in Other Current Liabilities |
-17,382 |
-2,433 |
|
Increase (Decrease)
in Deferred Credits |
-36 |
-463 |
|
Increase
(Decrease) in Other Operating Liabilities |
-9,125 |
-9,125 |
|
Net Cash
Provided by (Used in) Operating Activities |
844,982 |
479,469 |
|
Cash Flows from
Investing Activities |
|
|
|
Acquisition of Available-for-sale
Financial Assets |
-1,526,796 |
-770,045 |
|
Proceeds from
Disposal of Available-for-sale Financial Assets |
741,370 |
725,780 |
|
Acquisition of
Financial Assets Carried at Cost |
-59,318 |
-102,393 |
|
Proceeds from Disposal
of Financial Assets Carried at Cost |
51,742 |
67,446 |
|
Capital
Reduction of Financial Assets Carried at Cost |
9,500 |
38,539 |
|
Acquisition of
Investments Accounted for by Equity Method |
0 |
-2,455,312 |
|
Proceeds from Disposal
of Investments Accounted for by Equity Method |
0 |
167,705 |
|
Proceeds from
Capital Reduction of Investments Accounted for under Equity Method |
0 |
1,987 |
|
Purchase of
Property, Plant and Equipment |
-485,705 |
-1,483,338 |
|
Proceeds from Disposal
of Property, Plant and Equipment |
4,944 |
2,077 |
|
Increase
(Decrease) in Receipts in Advance-Disposal of Assets |
0 |
990 |
|
Decrease
(Increase) in Refundable Deposits |
-216 |
2,136 |
|
Increase in
Deferred Charges |
0 |
-92 |
|
Decrease (Increase)
in Restricted Assets |
-9,500 |
0 |
|
Purchase of
Intangible Assets |
-3,054 |
-1,694 |
|
Decrease
(Increase) in Other Assets |
-3,210 |
0 |
|
Net Cash
Provided by (Used in) Investing Activities |
-1,280,243 |
-3,806,214 |
|
Cash Flows from Financing
Activities |
|
|
|
Increase
(Decrease) in Short-term Loans |
-5,235,884 |
3,363,497 |
|
Proceeds from
Issuance of Bonds |
2,004,000 |
0 |
|
Proceeds from
Long-term Debt |
6,300,000 |
500,000 |
|
Repayment of
Long-term Debt |
-714,286 |
-789,286 |
|
Increase
(Decrease) in Guarantee Deposits Received |
-315 |
833 |
|
Cash Dividends
Paid |
-2,088,430 |
-2,470,405 |
|
Proceeds from
Issuance of Shares |
0 |
2,340,000 |
|
Proceeds from
Sale of Treasury Stock |
0 |
209,370 |
|
Net Cash
Provided by (Used in) Financing Activities |
265,085 |
3,154,009 |
|
Net Increase
(Decrease) in Cash and Cash Equivalents |
-170,176 |
-172,736 |
|
Cash and Cash
Equivalents, Beginning of year |
738,073 |
1,056,277 |
|
Cash and Cash
Equivalents, End of year |
567,897 |
883,541 |
|
Supplemental
Cash Flow Information |
|
|
|
Interest Paid-
Excluding Capitalized Interest |
84,694 |
44,577 |
|
Income Tax Paid |
170,179 |
402,928 |
|
Non-cash
Investing and Financing Activities |
|
|
|
Inventories Transferred
to Deferred Charges |
1,215 |
1,093 |
|
Others |
0 |
893,409 |
|
Investing
Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for
Acquisition of Property, Plant and Equipment |
|
|
|
Increase in
Property, Plant and Equipment |
452,744 |
1,455,588 |
|
Increase
(Decrease) in Payable for Equipment Purchased |
32,961 |
27,750 |
|
Cash Paid for
Acquisition of Property, Plant and Equipment |
485,705 |
1,483,338 |
Subject did not introduce 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.
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.42 |
|
UK Pound |
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.