|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
YC INOX CO., LTD. |
|
|
|
|
Formerly Known as: |
Yeun Chyang Industrial Co., Ltd. |
|
|
|
|
Registered Office : |
No.270, Sec.4, Jungshan Rd., Shijou Shiang, Chang-Hwa Hsien |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
31.01.1973 |
|
|
|
|
Com. Reg. No.: |
59068700 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer and sales of stainless steel products |
|
|
|
|
No. of Employees : |
About 780 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 |
|
Maximum Credit Limit : |
USD
2,000,000 |
|
|
|
|
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 4.1%. 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: |
Yeun Chyang Industrial Co., Ltd. |
|
Supplied Name: |
|
|
Trading Address: |
No.270, Sec.4,
Jungshan Rd., Shijou Shiang, Chang-Hwa Hsien, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-4-889-9666 |
|
Fax Number: |
|
|
E-mail: |
Notes: Subject’s exact name and address are as above.
|
Credit Rating: |
|
|
Credit Opinion: |
Business
connections are permissible. |
Subject was incorporated on 1973-1-31 with registered number 59068700 as Joint Stock Company in Taiwan.
Subject was listed on Taiwan Stock Exchange on 2001-9-17.
Change of Name
|
Former Name |
Yeun Chyang Industrial Co., Ltd. |
|
Current Name |
YC Inox Co., Ltd. |
|
Name |
Subscription Shares |
|
Taiqiang Investment Co., Ltd (Literal
Translation) |
50,031,539 |
|
Jinyu Zhang |
|
|
4,332,935 |
|
|
Lielin Zhan |
260,000 |
|
Liangzhi Zhang |
219,017 |
|
Songlin Shi |
1,958,000 |
|
Tianshang Xie |
3,583,098 |
|
Zuoxiang Xu |
50,000 |
The information above is that of subject’s major shareholders.
|
1 |
|
|
Name: |
Shijou Factory |
|
Address: |
No.270, Sec.4, Jungshan Rd., Shijou Shiang, Chang-Hwa Hsien, Taiwan,
R.O.C. |
|
2 |
|
|
Name: |
Puoshing Factory |
|
Address: |
No. 33, Sec. 4, Yuanlu Rd., Puoshing, Chang-Hwa, Taiwan |
|
Telephone Number: |
+886-4-829-2226 |
|
Fax Number: |
+886-4-829-2741 |
|
3 |
|
|
Name: |
Douliou Factory |
|
Address: |
No.29, Ke-jia Rd., Douliou City, Yunlin County 640, Taiwan |
|
Telephone Number: |
+886-5-551-1100 |
|
Fax Number: |
+886-5-551-1133 |
Offices
|
1 |
|
|
Name: |
Taipei Office |
|
Address: |
4F.-2, No.88, Jhouzih St., Neihu District, Taipei City 114, Taiwan |
|
Telephone Number: |
+886-2-2657-5999 |
|
Fax Number: |
+ 886-2-2657-3666 |
|
2 |
|
|
Name: |
Kaohsiung Office |
|
Address: |
2F., No. 293, Jhongjheng Rd., Niaosong , Kaohsiung, Taiwan |
|
Telephone Number: |
+886-7-733-5568 |
|
Fax Number: |
+886-7-733-5633 |
Core
Management
|
1 |
|
|
Name |
Qingke Zhang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jinpeng Zhang |
|
Position |
Director |
|
3 |
|
|
Name |
Jinyu Zhang |
|
Position |
Director & Manager |
|
Date of Appointment |
1999-10-25 |
|
4 |
|
|
Name |
Lielin Zhan |
|
Position |
Director |
|
5 |
|
|
Name |
Liangzhi Zhang |
|
Position |
Director |
|
6 |
|
|
Name |
Songlin Shi |
|
Position |
Director |
|
7 |
|
|
Name |
Tianshang Xie |
|
Position |
Supervisor |
|
8 |
|
|
Name |
Zuoxiang Xu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 780 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.270, Sec.4, Jungshan Rd., Shijou Shiang,
Chang-Hwa Hsien, Taiwan, R.O.C. |
l
Subject is engaged in manufacture of stainless
steel products.
l
It is introduced that subject has three factories
(total area is about 170,000 square meters) in Taiwan for production.
l
Subject obtained the certifications of JIS MARK,
ISO 14001, OHSAS 18001, ISO 9002 and TOSHMS, etc.
l
Subject’s monthly production capacity (end of 2012)
is as followed for reference.
|
Product |
Monthly Production Capacity |
|
Stainless Steel Plate |
26,000 metric ton |
|
Stainless Steel Pipe |
10,000 metric ton |
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CA01050 |
Steel secondary processing industry |
|
CA03010 |
Heat treatment industry |
|
CA04010 |
Surface treatment |
|
E599010 |
Piping engineering |
|
F106010 |
Wholesales of hardware |
|
F401010 |
International Trading Business |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
Subject purchases both at home and abroad and it is
introduced that the steel materials are mainly purchased from steel mills in
Taiwan.
l
The subject is mainly engaged in sales of stainless
steel products.
l
Subject’s sales regions include Asia, Europe,
America, Africa and Australia, etc.
l
Subject’s products are applied in industries such
as chemical, construction, food, machinery, environment protection, fire
fighting and telecommunication, as well as the manufacture of doors, windows
and shelves, etc.
l
Subject’s major customers are Chung Hsin Electric
& Machinery Mfg. Corp. Ltd., CTCI Corporation, Pinacle Stainless Steel
Inc., and Toyota Argentina SA., etc.
Major products
sold
|
1 |
Stainless Steel Coil |
|
2 |
Stainless Steel Sheet |
|
3 |
Stainless Steel Welded Pipe |
|
4 |
Stainless Steel Welded Tube |
|
5 |
Stainless Steel Angles |
|
6 |
Stainless Steel Flat Bar |
|
7 |
Stainless Steel U Channel |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Raw
materials, etc |
Credit
Sales, Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Raw
materials, etc |
T/T,
L/C, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Cash,, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Stainless
steel products |
T/T,
L/C, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
437,808.00 |
472,922.00 |
|
Financial assets measured at fair value through
profit or loss - current |
7,629.00 |
6,183.00 |
|
Notes receivable - net |
89,832.00 |
84,909.00 |
|
Accounts receivable - net |
2,300,684.00 |
2,635,610.00 |
|
Other receivables |
326,352.00 |
662,480.00 |
|
Inventories |
4,666,172.00 |
5,352,743.00 |
|
Other prepayments |
26,070.00 |
17,551.00 |
|
Other current assets |
24,735.00 |
32,382.00 |
|
Current assets |
7,879,282.00 |
9,264,780.00 |
|
Funds and Investments |
|
|
|
Financial assets carried at cost - non
current |
276,958.00 |
187,444.00 |
|
Equity investments under equity method |
116,118.00 |
97,144.00 |
|
Investments |
116,118.00 |
97,144.00 |
|
Funds and long-term investments |
393,076.00 |
284,588.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
1,087,269.00 |
1,087,269.00 |
|
Buildings and structures |
597,960.00 |
564,836.00 |
|
Machinery and equipment |
1,540,198.00 |
1,495,998.00 |
|
Transportation equipment |
89,211.00 |
79,948.00 |
|
Office equipment |
32,287.00 |
31,393.00 |
|
Leasehold improvements |
4,380.00 |
4,380.00 |
|
Other facilities |
183,592.00 |
173,504.00 |
|
Fixed assets cost |
3,534,897.00 |
3,437,328.00 |
|
Accumulated depreciation |
-1,244,852.00 |
-1,097,056.00 |
|
Construction in process and prepayment for
equipments |
142,526.00 |
39,242.00 |
|
Fixed assets |
2,432,571.00 |
2,379,514.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
0.00 |
0.00 |
|
Intangible assets |
0.00 |
0.00 |
|
OtherAssets |
|
|
|
Guarantee deposits paid |
153.00 |
160.00 |
|
Deferred charges |
32,723.00 |
35,758.00 |
|
Long-term notes and accounts receivable |
0.00 |
0.00 |
|
Deferred income tax assets - non current |
16,356.00 |
16,143.00 |
|
Other assets - other |
92,352.00 |
91,660.00 |
|
Other assets |
141,584.00 |
143,721.00 |
|
Assets |
10,846,513.00 |
12,072,603.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
1,673,556.00 |
2,864,509.00 |
|
Short-term notes and bills payable |
99,968.00 |
99,875.00 |
|
Financial liabilities measured at fair
value through profit or loss - current |
0.00 |
0.00 |
|
Notes payable |
268.00 |
722.00 |
|
Accounts payable |
234,208.00 |
245,086.00 |
|
Income tax payable |
0.00 |
92,749.00 |
|
Accrued expenses |
186,697.00 |
219,033.00 |
|
Other payables |
8,173.00 |
37,143.00 |
|
Advance receipts |
208,265.00 |
225,189.00 |
|
Long-term liabilities - current portion |
77,174.00 |
35,508.00 |
|
Other current liabilities |
16,980.00 |
9,926.00 |
|
Current liabilities |
2,505,289.00 |
3,829,740.00 |
|
Long term Liabilities |
|
|
|
Bonds payable |
0.00 |
0.00 |
|
Long-term borrowings |
1,548,549.00 |
1,325,723.00 |
|
Long-term liabilities |
1,548,549.00 |
1,325,723.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
890.00 |
890.00 |
|
Reserves |
890.00 |
890.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension
liability |
125,119.00 |
125,199.00 |
|
Guarantee deposits received |
173,780.00 |
184,932.00 |
|
Other liabilities - other |
3,793.00 |
3,793.00 |
|
Other liabilities |
302,692.00 |
313,924.00 |
|
Liabilities |
4,357,420.00 |
5,470,277.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
3,701,189.00 |
3,701,189.00 |
|
Advance receipts for common stock |
0.00 |
0.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in
capital |
1,843,398.00 |
1,843,398.00 |
|
Capital surplus - stock option |
0.00 |
0.00 |
|
Capital surplus - other |
5,239.00 |
5,239.00 |
|
Capital surplus |
1,848,637.00 |
1,848,637.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
561,056.00 |
514,270.00 |
|
Special reserve |
30,608.00 |
22,004.00 |
|
Unappropriated retained earnings |
368,025.00 |
546,394.00 |
|
Retained earnings |
959,689.00 |
1,082,668.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Net loss not recognized as pension cost |
-29,227.00 |
-30,608.00 |
|
Unrealized gains (losses) on financial
instruments |
8,693.00 |
328.00 |
|
Unrealized Revaluation Increment |
112.00 |
112.00 |
|
Equity adjustments |
-20,422.00 |
-30,168.00 |
|
Stockholders - equity |
6,489,093.00 (USD
220,629,162.00) |
6,602,326.00 (USD
224,479,084.00) |
|
Number of treasury stock acquired by the
company and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of 2013.06, 1 NTD
= 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
24,278,258.00 (USD
825,460,772.00) |
27,419,623.00 (USD 932,267,182.00) |
|
Sales returns |
18,903.00 |
19,619.00 |
|
Sales discounts and allowances |
9,715.00 |
629.00 |
|
Sales |
24,249,640.00 |
27,399,375.00 |
|
Operating income |
24,249,640.00 |
27,399,375.00 |
|
Cost of sales |
22,901,135.00 |
26,056,898.00 |
|
Operating costs |
22,901,135.00 |
26,056,898.00 |
|
Gross profit (loss) from operations |
1,348,505.00 |
1,342,477.00 |
|
Selling expense |
816,438.00 |
730,537.00 |
|
General and administrative expenses |
115,621.00 |
127,163.00 |
|
Operating expenses |
932,059.00 |
857,700.00 |
|
Operating income (loss) |
416,446.00 |
484,777.00 |
|
Non-Operating Income |
|
|
|
Interest income |
390.00 |
253.00 |
|
Income from long-term equity investments
under the equity method |
10,609.00 |
0.00 |
|
Dividends |
492.00 |
214.00 |
|
Investment income |
11,101.00 |
214.00 |
|
Gains on disposal of fixed assets |
0.00 |
6,298.00 |
|
Gains on sale of investments |
218.00 |
351.00 |
|
Foreign exchange gains |
0.00 |
105,267.00 |
|
Revaluation gain on financial assets |
1,446.00 |
0.00 |
|
Miscellaneous income |
13,702.00 |
34,541.00 |
|
Non-operating revenues and gains |
26,857.00 |
146,924.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
42,463.00 |
50,794.00 |
|
Losses from long-term equity investments
under the equity method |
0.00 |
351.00 |
|
Investment loss |
0.00 |
351.00 |
|
Loss on disposal of fixed assets |
2,038.00 |
0.00 |
|
Foreign exchange losses |
28,733.00 |
0.00 |
|
Revaluation loss on financial assets |
0.00 |
3,667.00 |
|
Revaluation loss on financial liabilities |
0.00 |
391.00 |
|
Miscellaneous disbursements |
2,589.00 |
1,260.00 |
|
Non-operating expenses and losses |
75,823.00 |
56,463.00 |
|
Income from continuing operations before
income tax |
367,480.00 |
575,238.00 |
|
Income tax expense (benefit) |
46,316.00 |
107,376.00 |
|
Income from continuing operations |
321,164.00 |
467,862.00 |
|
Cumulative effect of changes in accounting
principle |
0.00 |
0.00 |
|
Net income (loss) |
321,164.00 (USD 10,919,576.00) |
467,862.00 (USD 15,907,308.00) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
0.87 |
1.26 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
0.87 |
1.26 |
(As of 2013.06, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities -
Indirect Method |
|
|
|
Net Income (Loss) |
321,164.00 |
467,862.00 |
|
Adjustments to Reconcile Net Income to Net
Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
166,598.00 |
168,027.00 |
|
Amortization Expense |
8,098.00 |
9,684.00 |
|
Amortization of Discounts (Premiums) on
Bonds Payable |
0.00 |
1,628.00 |
|
Difference Between Net Pension Cost and
Plan Contribution |
1,300.00 |
4,160.00 |
|
Loss (Gain) on Decline (Recovery) in
Market Value, Scrap and Obsolescence of Inventories |
0.00 |
0.00 |
|
Investment Loss (Income) Recognized under
Equity Method |
-10,609.00 |
351.00 |
|
Loss (Gain) on Disposal of Property, Plant
and Equipment |
2,038.00 |
-6,298.00 |
|
Property, Plant and Equipment Transferred
to Expenses |
0.00 |
0.00 |
|
Unrealized Revaluation Loss (Gain) on
Financial Assets and Liabilities |
-1,446.00 |
4,058.00 |
|
Changes in Operating Assets and
Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
-4,923.00 |
-42,788.00 |
|
Decrease (Increase) in Accounts Receivable |
334,926.00 |
-170,801.00 |
|
Decrease (Increase) in Other Receivables |
336,128.00 |
-214,541.00 |
|
Decrease (Increase) in Inventories |
686,571.00 |
5,306.00 |
|
Decrease (Increase) in Other Prepayments |
-8,519.00 |
238,941.00 |
|
Decrease (Increase) in Other Current
Assets |
-5,421.00 |
65,773.00 |
|
Decrease (Increase) in Deferred Tax Assets |
12,855.00 |
-18,645.00 |
|
Increase (Decrease) in Notes Payable |
-454.00 |
-31.00 |
|
Increase (Decrease) in Accounts Payable |
-10,878.00 |
19,570.00 |
|
Increase (Decrease) in Income Tax Payable |
-92,749.00 |
48,163.00 |
|
Increase (Decrease) in Accrued Expenses |
-32,336.00 |
529.00 |
|
Increase (Decrease) in Other Payables |
0.00 |
0.00 |
|
Increase (Decrease) in Receipts in Advance |
-16,924.00 |
-33,675.00 |
|
Increase (Decrease) in Other Current
Liabilities |
7,054.00 |
741.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
1,692,473.00 |
548,014.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial Assets Carried at
Cost |
-89,514.00 |
0.00 |
|
Purchase of Property, Plant and Equipment |
-265,295.00 |
-277,573.00 |
|
Proceeds from Disposal of Property, Plant
and Equipment |
12,386.00 |
11,965.00 |
|
Decrease (Increase) in Refundable Deposits |
7.00 |
0.00 |
|
Increase in Deferred Charges |
-2,816.00 |
-23,586.00 |
|
Decrease (Increase) in Restricted Assets |
0.00 |
0.00 |
|
Decrease (Increase) in Other Assets |
-692.00 |
-18,068.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
-345,924.00 |
-307,262.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-1,190,953.00 |
433,248.00 |
|
Increase (Decrease) in Short-term Notes
and Bills Payable |
93.00 |
-103.00 |
|
Repayments of Bonds |
0.00 |
-50,100.00 |
|
Proceeds from Long-term Debt |
300,000.00 |
1,000,000.00 |
|
Repayment of Long-term Debt |
-35,508.00 |
-885,507.00 |
|
Increase (Decrease) in Guarantee Deposits
Received |
-11,152.00 |
-83,853.00 |
|
Cash Dividends Paid |
-444,143.00 |
-448,000.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-1,381,663.00 |
-34,315.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
-35,114.00 |
206,437.00 |
|
Cash and Cash Equivalents, Beginning of
year |
472,922.00 |
266,485.00 |
|
Cash and Cash Equivalents, End of year |
437,808.00 |
472,922.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid- Excluding Capitalized
Interest |
42,909.00 |
50,354.00 |
|
Income Tax Paid |
126,210.00 |
77,857.00 |
|
Non-cash Investing and Financing
Activities |
|
|
|
Current Portion of Long-term Liabilities |
77,174.00 |
35,508.00 |
|
Conversion of Bonds to Common Stock |
0.00 |
5,509.00 |
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.
|
Name |
Ms. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
UK Pound |
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.