|
Report Date : |
03.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
GREEN SINO DEVELOPMENT LIMITED |
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Registered Office : |
Room 1405, 14/F, Manley Commercial Building, 367 Queen's
Road Central, Sheung Wan, Hong Kong Island |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.02.2011 |
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Com. Reg. No.: |
53904916 |
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|
Legal Form : |
Private Limited Company |
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Line of Business : |
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No. of Employees : |
No Employees in Hong Kong [It is to be noted that the company does not
have its own operating office in Hong Kong. The company uses the address of
its secretariat as its correspondence address only. Subject operates from
some other country and does not have a base in Hong Kong. Such companies are
registered in Hong Kong just to tax benefit purpose and due to the strict
privacy laws prevailing in the country. In such cases, the companies are not
required to have any employees in Hong Kong nor do have an office there.] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
No Operating Office in Hong Kong |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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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 |
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 |
|
Subject's Registered Name : |
GREEN SINO DEVELOPMENT LIMITED |
|
Companies Registry No. (CR No.): |
1564052 |
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Subject's Business Name (in English ~ Chinese): |
N/A |
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Registered Address: |
Room 1405, 14/F, Manley Commercial Building, 367 Queen's
Road Central, Sheung Wan, Hong Kong Island, Hong Kong. |
|
Operating/Business Address: |
c/o Room 1405, 14/F, Manley Commercial Building, 367
Queen's Road Central, Sheung Wan, Hong Kong Island, Hong Kong. |
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Telephone: |
c/o 23752558 |
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Fax: |
c/o 23171448 |
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Email: |
c/o raymondcpa@biznetvigator.com |
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NACE - Code & Industry: |
N/A |
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Certification: |
N/A |
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Business/Industry Trend: |
N/A |
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Public Filings Compliance: |
N/A |
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|
NACE stands for "Nomenclature Generale des
Activites Economiques dans I`Union Europeenne" (General Name for Economic
Activities in the European Union). NACE code system is the European standard
for industry classifications and was introduced in 1970. In 1990 a revised
version became applicable. The latest 2008 version is based on
"International Standard Industrial Classification of all economic
activities" (ISIC) of the United Nations. The codes start with numeric
(e.g. 1. Agriculture, forestry and fishing) are from the 1990 version and
those ones start with alphabet (e.g. A - Agriculture, forestry and fishing) are
from the latest 2008 version. |
|
Public Filings Compliance - looks into a number of
compliance requirements such as whether Subject is promptly filing its annual
return (e.g. within 42 days after the anniversary of the date of incorporation
(for private companies having a share capital); whether Subject's individual
director is reporting a residential address and/or whether Subject is
reporting its status under the Mortgage and Charges section for Total Amount
Outstanding.... etc. |
Despite repeated attempts of investigations and enquiries we have been unable to contact Subject and its sole shareholder and director.
Some sections in this report are resulted as -N/A- or -Not learned- due to the
unavailability of related information and local operation.
The following statutory information is based on the examination of Subject's file at the Companies' Registry (CR), Hong Kong.
(For Listed Company, only Substantial Shareholders ("SS") are listed, as based on the latest available annual or interim reports. It is noted that some of the shares held (including long, short and other positions) might have been duplicated due to capacities of "Beneficial owner", "Interest of controlled corporation", "Interest of spouse", "Family interest", etc., which mean the total number of shares held by SS may exceed the authorized and/or issued shares. Duplicate holding (if any) will be elaborated under the "Notes to Substantial Shareholders" on the Structure Remark section.)
|
Companies Registry No. (CR No.) |
1564052 |
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Business Registration No. (BR No.) |
53904916 |
|
Legal Status |
Private Limited Company |
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Active Status |
Live |
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Date of Incorporation / Registration |
23 Feb 2011 |
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Name Changed |
N/A |
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Authorized Share Capital |
HKD10,000 |
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No. of Shares Issued |
1 |
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Issued Share Capital |
HKD1 |
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Paid up Capital (excluding premium) |
HKD1 |
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Class of Share |
Ordinary |
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Last Annual Return Date |
23 Feb 2013 |
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Year(s) of "Annual Return of No Change" Filed |
N/A |
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Branches/Trading As |
N/A |
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Chief Executive |
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Company Secretary |
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Shareholders/ Subscribers (as at 23 Feb 2013)
|
Shareholders/ Subscribers |
ID/CR No. |
Passport No. |
Issuing Country |
Address |
No. of
Shares |
Class of Share |
% Of Share
Capital |
|
LI Hong Fang |
445222197008024523 |
N/A |
China |
Room 1405, 14/F, Manley Commercial Building, 367 Queen's
Road Central, Sheung Wan, Hong Kong Island, Hong Kong. |
1 |
Ordinary |
100.00 |
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Total: |
1 |
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Directors (as at 23 Feb 2013)
|
Directors |
ID/CR No. |
Passport No. |
Issuing Country |
Address |
|
LI Hong Fang |
445222197008024523 |
N/A |
China |
Room 1405, 14/F, Manley Commercial Building, 367 Queen's Road
Central, Sheung Wan, Hong Kong Island, Hong Kong. |
|
Change of Ownership & Capital/ Share
Allotment/Other Changes |
N/A |
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Appointment and/or Resignation of Directors or
Secretary |
N/A |
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Admission or Retirement of Sole Proprietor/Partner |
N/A |
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Parent |
N/A |
Due to the nature of the information learned, we are responding in narrative format.
There is no telephone listing found on Subject, its sole shareholder and
director. In addition, it is not found in the major reference books and trade
and web directories.
We contacted Subject's corporate secretary Union Secretaries Limited (Tel:
23752558, Fax: 23171448 and Email: raymondcpa@biznetvigator.com) and
interviewed Mr. POON, a staff there, only confirmed that Subject is their
client maintaining its registered and corresponding office (same as given)
there however declined to release any further information on the grounds of
professional ethics. Message was left for Subject, its sole shareholder and
director but no reply was received during the report compilation.
|
Name |
LI Hong Fang |
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Position (Title) |
Chief Executive |
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Nationality |
China |
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Age |
42 |
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Sex |
Female |
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Experience |
N/A |
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Profile / Responsibility |
Managing Director, and sole shareholder and director. Born
2 Aug 1970 with ID issued at JieXi, Jieyang City, Guangdong Province, China. Appears
stationing in China and could not be reached during the report
compilation. |
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Business Capacity |
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Court Action |
As Defendant |
|
Profile/Responsibility and Business Capacity indicated
are based on -on-file, sources, and enquiries and investigations recently
conducted but do not necessarily represent the full or most updated. For
example, the status indicated under Business Capacity is based on the date
shown (if available) as recorded, which might have been changed at the time
the report is compiled. |
Its sole shareholder and director was unreachable for
interview during the report compilation.
Sources and records reveal no related information.
|
Private companies in Hong Kong (include private
limited, sole proprietorship and partnership) are not required to file or
disclose their financial information for public inspection. |
N/A
No banking information was learned.
N/A
Search Result:
Subject
None found in our database
Related Members
None found in our database
Related Companies
None found in our database
Mortgages and Charges (M&C)
M&C records, if any, are extracted from the Companies Registry, Hong Kong ("CRHK"). Details of "Creating Instrument" and "Description of Property Mortgaged or Charged" are available subject to the prevailing fees as per document charged by CRHK. Please indicate/select "Full Mortgage/Charge" when ordering our services/reports (e.g.: Total Limited Company Search or Total Company Credit Report). Request for Full mortgage/Charge made 7 days after the report delivery will be treated as a new order and is subject to our "Official Document Retrieval (ODR)" service charge + related government fees. M&C brief particulars may not be available from CRHK for mortgage/charge registered before 28 Feb 2005.
Records filed in:
N/A
Total Amount outstanding as of the date of this Return on
all mortgages and charges which are required to be registered with the
Registrar of Companies pursuant to sections 80 and 82 of the Companies
Ordinance
TWS reveals if subject has been listed as Defendant/Debtor/Respondent, Plaintiff/Creditor/Applicant, in liquidation or bankruptcy within our court database in the past 7 years and that is subject to the "Code of Practice on Consumer Credit Data" issued by Office of the Privacy Commissioner for Personal Data, Hong Kong. It should be noted that the court record contained in a report might have been paid, terminated, vacated, settled or released prior to the date of a report was compiled. Civil claims are filed as the result of disputes of a commercial or other nature. The Defendant/Debtor/Respondent is not liable nor the Plaintiff/Creditor/Applicant eligible to the claim until judgement is obtained from the relevant court, which is not open for public inspection at present. Only the latest 50 records will be shown when total records exceed 50.
Search Result:
Subject
As Defendant
None found in our database
As Plaintiff
None found in our database
Comments
N/A
Related Members
As Defendant
None found in our database
Comments
N/A
Related Companies
As Defendant
None found in our database
Comments
N/A
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Principal Business Line |
Not learned |
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Second Business Line |
N/A |
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China Factory |
N/A |
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Size of China Factory (sq. ft.) |
N/A |
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No. of Staff / Workers in China (or Overseas) |
N/A |
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Product / Production Remarks |
N/A |
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Hong Kong and China |
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Types of Supplies |
N/A |
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Buying Terms |
N/A |
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Overseas |
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Import Countries |
N/A |
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Types of Supplies |
N/A |
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Buying Terms |
N/A |
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Remarks |
Subject is believed an inactive seeker of local trade
credit. |
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Major Market |
N/A |
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Minor Market |
N/A |
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Selling Products / Services |
N/A |
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Selling Terms |
N/A |
|
Remarks |
N/A |
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Own Brands |
N/A |
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OEM (Clients) Brands |
N/A |
|
Remarks |
N/A |
|
Hong Kong Office |
|
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Area (sq. ft.) |
N/A |
|
Type |
Commercial |
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Staff Range |
N/A |
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China Office |
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Staff Range |
N/A |
|
Premises Remarks |
Renting its registered and corresponding office at the
captioned address, which is the office of its corporate secretary, at a
commercial building. |
|
Total No. of Staff in Hong Kong (China) |
N/A |
TPOS reveals if subject has been involved in property transaction record in our database since 1996. TPOS does not represent the full record or history of all transactions relating to the registered charges, mortgages or ownerships. Some of the charges, mortgages or ownerships might have been released and/or changed. There could be latest mortgages, charges, ownerships or transactions not reflected. TPOS also checks on Subject's shareholder, director, sole proprietor, partner (collectively listed under "Related Members" in this section) and/or related company while related records will be revealed when appropriate.
Search Result:
Subject
No Trace
Related Members
No Trace
Related Companies
No Trace
Abbreviations:
S&P = Sales and Purchase
GBF = General Banking Facilities
N/A = Not Available/Applicable
Related companies mean Parent Company, Subsidiary Company, Director's Other Business/Capacity, etc.
N/A
|
|
2009 |
2010 |
2011 |
Forecast/Latest |
|
Population,
Mid-year (million) |
6.97 |
7.02 |
7.07 |
7.14a |
|
Gross
Domestic Product (US$billion) |
208.0 |
223.3 |
243.2 |
250.5-252.9b |
|
GDP Per
Capita (US$) |
29,800 |
31,800 |
34,400 |
35,100-35,400b |
|
Real GDP
Growth (%) |
-2.6 |
+7.1 |
+5.0 |
+1-2b |
|
Inflation
(% Change in Composite CPI) |
+0.5 |
+2.4 |
+5.3 |
+4.7c |
|
Unemployment
Rate, seasonally adjusted (%) |
5.4 |
4.4 |
3.4 |
3.2d |
|
Retail
Sales Growth (%) |
+0.6 |
+18.3 |
+24.9 |
+13.1c |
|
Visitor
Arrival Growth (%) |
+0.3 |
+21.8 |
+16.4 |
+15.5c |
a 2012; b government forecast for 2012; c year-on-year change in January-June 2012; d April-June 2012.
Merchandise Trade Performance
|
|
2010 |
2011 |
January-June 2012 |
|||
|
US$billion |
Growth % |
US$billion |
Growth % |
US$billion |
Growth % |
|
|
Total Exports |
388.6 |
+22.8 |
427.9 |
+10.1 |
207.6 |
+0.3 |
|
Domestic Exports |
8.9 |
+20.4 |
8.4 |
-5.5 |
3.6 |
-19.4 |
|
Re-exports |
379.7 |
+22.8 |
419.8 |
+10.5 |
204.0 |
+0.7 |
|
Imports |
431.4 |
+25.0 |
482.6 |
+11.9 |
236.0 |
+1.4 |
|
Total Trade |
820.0 |
+23.9 |
910.5 |
+11.0 |
443.6 |
+0.9 |
|
Trade Balance |
-42.8 |
N/A |
-54.8 |
N/A |
-28.4 |
N/A |
Service Trade Performance
|
|
2010 |
2011 |
January-June 2012 |
|||
|
US$billion |
Growth % |
US$billion |
Growth % |
US$billion |
Growth % |
|
|
Exports |
105.7 |
+23.1 |
121.2 |
+14.6 |
60.2 |
+7.6 |
|
Imports |
50.8 |
+16.3 |
55.8 |
+9.8 |
27.4 |
+3.7 |
|
Total Trade |
156.5 |
+20.8 |
177.0 |
+13.1 |
87.6 |
+6.4 |
|
Trade Balance |
54.9 |
N/A |
64.9 |
N/A |
32.8 |
N/A |
NOTE:
It is to be noted that the
company does not have its own operating office in Hong Kong. The company uses
the address of its secretariat as its correspondence address only. Subject
operates from some other country and does not have a base in Hong Kong. Such
companies are registered in Hong Kong just to tax benefit purpose and due to
the strict privacy laws prevailing in the country. In such cases, the companies
are not required to have any employees in Hong Kong nor do have an office
there.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
|
1 |
Rs.86.81 |
|
Euro |
1 |
Rs.73.68 |
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.