MIRA INFORM REPORT
|
Report Date : |
02.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
FARADAY TECHNOLOGY CORPORATION |
|
|
|
|
Registered Office : |
No.5, Li-Hsin Third Rd., Hsinchu Science Park, Hsinchu City, Taiwan
300 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.06.1993 |
|
|
|
|
Com. Reg. No.: |
84149060 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of electronic components |
|
|
|
|
No. of Employees : |
About 700 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 : |
Satisfactory |
|
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) |
|
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. 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.
|
Source
: CIA |
|
Company Name: |
|
|
Former Name: |
Faraday Technology Corp. |
|
Supplied Name: |
|
|
Trading Address: |
No.5, Li-Hsin
Third Rd., Hsinchu Science Park, Hsinchu City, Taiwan 300, R.O.C. |
|
Supplied Address: |
No. 5, Li-Hsin
Rd. III, Hsinchu Science park, Hsinchu City, Taiwan 300 Taiwan |
|
Telephone Number: |
+886-3-578-7888 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as
above.
|
Registered Name: |
FARADAY TECHNOLOGY CORPORATION |
|
Registered Address: |
No.5, Li-Hsin Third Rd.,
Hsinchu Science Park, Hsinchu City, Taiwan 300, R.O.C. |
|
Date of Foundation: |
1993-6-10 |
|
Registration Number: |
84149060 |
|
Registry: |
Science Park Administration |
|
Registered Capital: |
|
|
Paid-up Capital: |
NTD 4,062,075,220 (USD 136,079,520) |
|
Legal Representatives: |
Mingzhi Xuan |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1993-6-10 with registered number 84149060
as Joint Stock Company in
Taiwan.
Subject listed on Taiwan stock exchange on 2002-8-26.
|
Former English
Name |
Faraday
Technology Corp. |
|
Current English
Name |
Faraday
Technology Corporation |
|
Name |
Subscription Shares |
|
Unimicron Technology Corp. |
200,000 |
|
United Microelectronics Corp. |
|
|
57,067,023 |
|
|
Weixin Zang |
237,941 |
|
Hongping Zheng |
84,128 |
|
Zhengxing Hong |
163,957 |
|
Qingyi Zeng |
1,075,689 |
|
Zhiming Lin |
761,330 |
The information above is that of subject’s major shareholders.
Branches and Offices
|
1 |
|
|
Name |
USA Branch |
|
Address |
3945 Freedom Circle, Suite 200 Santa Clara, CA 95054, U.S.A |
|
Telephone Number |
+1-408-522-8888 |
|
Fax Number |
+1-408-522-8889 |
|
2 |
|
|
Name |
Europe Office |
|
Address |
Planetenweg 39, 2132 HN Hoofddorp, The Netherlands |
|
Telephone Number |
+31-23-56-20496 |
|
Fax Number |
+31-23-56-36297 |
|
3 |
|
|
Name |
Japan Office |
|
Address |
Akihabara Center Place Bldg. 15F 1 Aioicho Kanda Chiyoda-ku, Tokyo, 101-0029,
Japan |
|
Telephone Number |
+81-3-3526-4838 |
|
Fax Number |
+81-3-3255-3900 |
|
4 |
|
|
Name |
Shanghai Office |
|
Address |
Room 801, Yuanzhong Scientific Research Building, No.1905 Hongmei Rd.,
Shanghai, 200233, China |
|
Telephone Number |
+86-21-5445-3398 |
|
Fax Number |
+86-21-5445-3368 |
|
5 |
|
|
Name |
Shenzhen Office |
|
Address |
Room 403, Building, TsingHua Hi, Keyuan Road, Hi-tech Park, Nanshan
District, Shenzhen City, 518057 China |
|
Telephone Number |
+86-755-8839-2194 |
|
Fax Number |
+86-755-8839-2173 |
Core Management
Directors
|
1 |
|
|
Name |
Mingzhi Xuan |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Guowei Wang |
|
Position |
Director |
|
3 |
|
|
Name |
Weixin Zang |
|
Position |
Director |
|
4 |
|
|
Name |
Hongping Zheng |
|
Position |
Director |
|
5 |
|
|
Name |
Zhengxin Hong |
|
Position |
Director |
|
6 |
|
|
Name |
Shijun Xu |
|
Position |
Director |
|
7 |
|
|
Name |
Lingling Wu |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Hongyuan Zheng |
|
Position |
Independent Director |
|
9 |
|
|
Name |
Shijie Cai |
|
Position |
Independent Director |
|
10 |
|
|
Name |
Qingyi Zeng |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Zhiming Lin |
|
Position |
Supervisor |
|
Total Employees |
About 700 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.5, Li-Hsin Third Rd., Hsinchu Science Park, Hsinchu City, Taiwan
300, R.O.C. |
Production
Information
The subject is a manufacturer of electronic components and etc.
It is introduced that subject has a factory in Taiwan for production.
It is introduced that subject has obtained ISO 9001:2008 and ISO 9001
certifications.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
CC01080 |
Manufacturing of electronic components. |
|
F401010 |
International trading business. |
|
I501010 |
Designing of products. |
|
I301020 |
Dealing with files. |
|
I301010 |
Serving of information software. |
|
Researching, development, designing, manufacturing, producing and
sales of follow products. |
|
|
1 |
Designing of integrated circuit for special applications. |
|
2 |
Silicon ipr and system platform for designing for integrated circuit
for special applications. |
|
3 |
Electronic circuit designing and ASIC EDA Tools for integrated circuit
for special applications. |
It is introduced that subject purchases raw materials, components and
etc both at home and abroad.
The subject is mainly engaged in sales of
electronic components and etc.
It is introduced that subject’s selling territory covers all over the
world.
It is introduced that subject’s major customers are manufactures of
electronic and electrical products, etc.
It is introduced that subject also provides SoC Design Service and SoC
Evaluation Platform Service.
Major Products
|
|
Product |
|
1 |
Library & Memory Compiler |
|
2 |
Processor Cores |
|
3 |
Interface IP |
|
4 |
Analog / Mixed Signal IP |
|
5 |
Peripheral IP |
|
6 |
ARM Tools |
|
7 |
Browse by IP Category |
|
8 |
Browse by Technology |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
components and etc |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials,
components and etc |
CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Electronic
components and etc. |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Electronic
components and etc. |
CBD and etc |
100% |
Unit: NTD/000
|
Date |
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and
cash equivalents |
2,794,321.00 |
2,371,540.00 |
|
Financial
assets measured at fair value through profit or loss - current |
3,141.00 |
342.00 |
|
Available-for-sale
financial assets - current |
252,857.00 |
188,347.00 |
|
Notes
receivable - net |
4,797.00 |
1,506.00 |
|
Notes
receivable - related parties - net |
474.00 |
0.00 |
|
Accounts
receivable - net |
1,025,702.00 |
653,325.00 |
|
Accounts
receivable - related parties - net |
243,066.00 |
331,197.00 |
|
Other
receivables - related parties |
33,496.00 |
23,099.00 |
|
Inventories |
720,490.00 |
410,776.00 |
|
Other
current assets |
246,087.00 |
129,336.00 |
|
Current
assets |
5,324,431.00 |
4,109,468.00 |
|
Funds and Investments |
|
|
|
Financial
assets carried at cost - non current |
894,138.00 |
896,463.00 |
|
Equity
investments under equity method |
1,178,364.00 |
1,259,245.00 |
|
Investments |
1,178,364.00 |
1,259,245.00 |
|
Funds
and long-term investments |
2,072,502.00 |
2,155,708.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
33,576.00 |
33,576.00 |
|
Buildings
and structures |
981,744.00 |
981,744.00 |
|
Machinery
and equipment |
91,888.00 |
104,035.00 |
|
Computer
and telecommunication equipment |
67,688.00 |
55,990.00 |
|
Office
equipment |
8,611.00 |
26,796.00 |
|
Other
facilities |
3,365.00 |
5,844.00 |
|
Fixed
assets cost |
1,186,872.00 |
1,207,985.00 |
|
Accumulated
depreciation |
-457,044.00 |
-433,254.00 |
|
Fixed
assets |
729,828.00 |
774,731.00 |
|
Intangible Assets |
|
|
|
Other
intangible assets |
557,064.00 |
263,401.00 |
|
Intangible
assets |
557,064.00 |
263,401.00 |
|
OtherAssets |
|
|
|
Guarantee
deposits paid |
899.00 |
740.00 |
|
Deferred
income tax assets - non current |
0.00 |
38,000.00 |
|
Other
assets - other |
15,939.00 |
15,906.00 |
|
Other
assets |
16,838.00 |
54,646.00 |
|
Assets |
8,700,663.00 |
7,357,954.00 |
|
Liabilities and
Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Accounts
payable |
706,641.00 |
427,559.00 |
|
Accounts
payable - related parties |
2,038.00 |
1,096.00 |
|
Income tax
payable |
101,490.00 |
83,198.00 |
|
Accrued
expenses |
491,166.00 |
324,267.00 |
|
Other
payables |
165,693.00 |
22,029.00 |
|
Other
current liabilities |
194,521.00 |
196,397.00 |
|
Current
liabilities |
1,661,549.00 |
1,054,546.00 |
|
Long term Liabilities |
|
|
|
Long-term
notes and accounts payable |
149,854.00 |
0.00 |
|
Long-term
liabilities |
149,854.00 |
0.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension
reserve / accrued pension liability |
8,953.00 |
12,965.00 |
|
Other
liabilities |
8,953.00 |
12,965.00 |
|
Liabilities |
1,820,356.00 |
1,067,511.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common
stock |
4,036,075.00 |
3,980,270.00 |
|
Advance
receipts for common stock |
7,111.00 |
8,990.00 |
|
Stock
dividend to be distributed |
0.00 |
0.00 |
|
Capital Surplus |
|
|
|
Capital
surplus - additional paid-in capital |
150,863.00 |
150,863.00 |
|
Capital
surplus - long-term equity investments |
38,318.00 |
34,124.00 |
|
Capital
surplus - employee stock option |
336,881.00 |
786,630.00 |
|
Capital
surplus |
526,062.00 |
971,617.00 |
|
Retained Earnings |
|
|
|
Legal
reserve |
1,182,467.00 |
1,170,554.00 |
|
Special
reserve |
55,557.00 |
55,557.00 |
|
Unappropriated
retained earnings |
1,130,376.00 |
157,782.00 |
|
Retained
earnings |
2,368,400.00 |
1,383,893.00 |
|
Stockholders' Equity
and Other adjustmen |
|
|
|
Cumulative
translation adjustments |
-54,373.00 |
-42,768.00 |
|
Unrealized
gains (losses) on financial instruments |
-2,968.00 |
-11,559.00 |
|
Equity
adjustments |
-57,341.00 |
-54,327.00 |
|
Stockholdersˉ
equity |
6,880,307.00 (USD 230,490,285) |
6,290,443.00 (USD 210,729,841) |
|
Number of
treasury stock acquired by the company and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
711,125.00 |
899,000.00 |
(As of 2013.7, 1 NTD = 0.0335 USD)
Unit: NTD/000
|
Date |
2012-1-1~2012-12-31 |
2011-1-1~2011-12-31 |
|
Sales |
8,124,742.00 (USD 272,178,857) |
5,362,953.00 (USD 179,658,926) |
|
Sales
returns |
0.00 |
1,386.00 |
|
Sales
discounts and allowances |
23,456.00 |
36,767.00 |
|
Sales |
8,101,286.00 |
5,324,800.00 |
|
Operating
income |
8,101,286.00 |
5,324,800.00 |
|
Operating
costs |
4,908,638.00 |
2,990,822.00 |
|
Gross
profit (loss) from operations |
3,192,648.00 |
2,333,978.00 |
|
Selling
expense |
155,578.00 |
130,325.00 |
|
General
and administrative expenses |
235,158.00 |
189,250.00 |
|
Research
and development expenses |
1,566,694.00 |
1,265,527.00 |
|
Operating
expenses |
1,957,430.00 |
1,585,102.00 |
|
Operating
income (loss) |
1,235,218.00 |
748,876.00 |
|
Non-Operating Income |
|
|
|
Interest
income |
18,026.00 |
12,131.00 |
|
Dividends |
6,742.00 |
6,955.00 |
|
Investment
income |
6,742.00 |
6,955.00 |
|
Gains on
sale of investments |
1,342.00 |
0.00 |
|
Foreign
exchange gains |
3,991.00 |
30,231.00 |
|
Revaluation
gain on financial assets |
2,799.00 |
0.00 |
|
Miscellaneous
income |
4,625.00 |
9,361.00 |
|
Non-operating
revenues and gains |
37,525.00 |
58,678.00 |
|
Non-Operating Expenses |
|
|
|
Losses from
long-term equity investments under the equity method |
84,786.00 |
180,662.00 |
|
Investment
loss |
84,786.00 |
180,662.00 |
|
Loss on
sale of investments |
0.00 |
3,521.00 |
|
Impairment
loss on assets |
2,325.00 |
3,615.00 |
|
Revaluation
loss on financial assets |
0.00 |
24,423.00 |
|
Miscellaneous
disbursements |
11,024.00 |
14,559.00 |
|
Non-operating
expenses and losses |
98,135.00 |
226,780.00 |
|
Income from
continuing operations before income tax |
1,174,608.00 |
580,774.00 |
|
Income tax
expense (benefit) |
109,639.00 |
461,645.00 |
|
Income
from continuing operations |
1,064,969.00 |
119,129.00 |
|
Net income
(loss) |
1,064,969.00 (USD 35,676,462) |
119,129.00 (USD 3,990,822) |
|
Primary Earnings per
Share |
|
|
|
Primary
earnings per share |
2.65 |
0.30 |
|
Diluted earnings per
share |
|
|
|
Diluted
earnings per share |
2.58 |
0.29 |
(As of 2013.7, 1 NTD = 0.0335 USD)
|
Date |
2012-1-1~2012-12-31 |
2011-1-1~2011-12-31 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
1,064,969.00 |
119,129.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by
(Used in) Operating Activities |
|
|
|
Depreciation Expense |
80,789.00 |
84,112.00 |
|
Amortization Expense |
243,067.00 |
195,368.00 |
|
Provision (Reversal of Provision) for Bad Debts
Losses |
-1,600.00 |
7,215.00 |
|
Share-based Compensation |
2,838.00 |
7,671.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value,
Scrap and Obsolescence of Inventories |
54,485.00 |
51,105.00 |
|
Investment Loss (Income) Recognized under Equity
Method |
84,786.00 |
180,662.00 |
|
Loss (Gain) on Disposal of Investments |
-1,342.00 |
3,521.00 |
|
Unrealized Revaluation Loss (Gain) on Financial
Assets and Liabilities |
-2,799.00 |
24,423.00 |
|
Impairment Losses on Financial Asset |
2,325.00 |
3,615.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
-3,291.00 |
17,965.00 |
|
Decrease (Increase) in Notes Receivable -
Related Parties |
-474.00 |
0.00 |
|
Decrease (Increase) in Accounts Receivable |
-362,958.00 |
29,104.00 |
|
Decrease (Increase) in Accounts Receivable -
Related Parties |
81,317.00 |
40,780.00 |
|
Decrease (Increase) in Other Receivable- Related
Parties |
-9,483.00 |
7,404.00 |
|
Decrease (Increase) in Inventories |
-364,199.00 |
53,692.00 |
|
Decrease (Increase) in Other Financial Assets |
1,902.00 |
-1,180.00 |
|
Decrease (Increase) in Deferred Tax Assets |
13,221.00 |
387,102.00 |
|
Decrease (Increase) in Other Operating Assets |
-91,972.00 |
17,357.00 |
|
Increase (Decrease) in Accounts Payable |
279,082.00 |
-232,614.00 |
|
Increase (Decrease) in Accounts Payable -
Related Parties |
942.00 |
-355.00 |
|
Increase (Decrease) in Income Tax Payable |
18,292.00 |
53,854.00 |
|
Increase (Decrease) in Accrued Expenses |
87,894.00 |
-70,268.00 |
|
Increase (Decrease) in Other Payables |
146,133.00 |
-113,784.00 |
|
Increase (Decrease) in Accrued Pension
Liabilities |
-4,012.00 |
-1,098.00 |
|
Increase (Decrease) in Other Operating
Liabilities |
-1,876.00 |
87,876.00 |
|
Net Cash Provided by (Used in) Operating Activities |
1,318,036.00 |
952,656.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale Financial Assets |
-221,140.00 |
-60,000.00 |
|
Proceeds from Disposal of Available-for-sale Financial Assets |
165,832.00 |
176,528.00 |
|
Capital Reduction of Financial Assets Carried at Cost |
0.00 |
4,500.00 |
|
Acquisition of Investments Accounted for by Equity Method |
-14,406.00 |
-44,143.00 |
|
Purchase of Property, Plant and Equipment |
-41,401.00 |
-22,954.00 |
|
Decrease (Increase) in Refundable Deposits |
-159.00 |
-37.00 |
|
Decrease (Increase) in Restricted Assets |
-33.00 |
-58.00 |
|
Purchase of Intangible Assets |
-304,824.00 |
-204,482.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-416,131.00 |
-150,646.00 |
|
Cash Flows from Financing Activities |
|
|
|
Cash Dividends Paid |
-603,465.00 |
-566,422.00 |
|
Exercise of Employee Stock Options |
124,341.00 |
246,885.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-479,124.00 |
-319,537.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
422,781.00 |
482,473.00 |
|
Cash and Cash Equivalents, Beginning of year |
2,371,540.00 |
1,889,067.00 |
|
Cash and Cash Equivalents, End of year |
2,794,321.00 |
2,371,540.00 |
|
Supplemental Cash Flow Information |
|
|
|
Income Tax Paid |
78,126.00 |
20,679.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Unrealized Valuation Gains or Losses on Financial Instruments |
8,591.00 |
-11,967.00 |
|
Cumulative Translation Adjustments |
-11,605.00 |
13,198.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
38,932.00 |
26,440.00 |
|
Increase (Decrease) in Payable for Equipment
Purchased |
2,469.00 |
-3,486.00 |
|
Cash Paid for Acquisition of Property, Plant and
Equipment |
41,401.00 |
22,954.00 |
Subject declined to disclose its bank details; from
other source we cannot obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
Trial Number: |
2012,Chonglaosu, 2 |
|
Date of Trial: |
2012-1-12 |
|
Reason: |
Performance of Contract |
|
2 |
|
|
Trial Number: |
2011, Bu, 629 |
|
Date of Trial: |
2011-7-25 |
|
Reason: |
Performance of Contract |
|
3 |
|
|
Trial Number: |
2000, Su, 553 |
|
Date of Trial: |
2000-11-17 |
|
Reason: |
Certain for the relationship |
|
Name |
Ms. Lin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.15 |
|
|
1 |
Rs.90.05 |
|
Euro |
1 |
Rs.77.06 |
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.