MIRA INFORM REPORT
|
Report Date : |
14.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCED COMMUNICATION TECHNOLOGY &
SOLUTIONS CORPORATION |
|
|
|
|
Registered Office : |
12Fl., No.18, Sec.1, Chang-An East Road,
Taipei City 104 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
22.09.2004 |
|
|
|
|
Com. Reg. No.: |
27364398 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Providing services of network communication solution
and value added mobile applications, etc. |
|
|
|
|
No. of Employees : |
About 40 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: |
|
|
Supplied Name: |
|
|
Trading Address: |
12Fl., No.18,
Sec.1, Chang-An East Road, Taipei City 104, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2522-2122 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as
above.
|
Registered Name: |
|
|
Registered Address: |
12Fl., No.18, Sec.1, Chang-An East Road, Taipei
City 104, Taiwan, R.O.C. |
|
Date of Foundation: |
2004-9-22 |
|
Registration Number: |
27364398 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 120,000,000
(USD 4,080,000) (As of 2013.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 77,188,210 (USD
2,624,399) |
|
Legal Representatives: |
Zhaoyou Xu |
|
Legal Form: |
|
|
Principal Activities: |
Providing
services of network communication solution and value added mobile
applications, etc. |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 2004-9-22 with registered number 27364398
as Joint Stock Company in
Taiwan.
|
Name |
Subscription Shares |
|
Jiankun Chen |
532,103 |
|
United Fiber Optic Communication Inc. |
|
|
4,673,643 |
|
|
Weiyun Huang |
492,580 |
The information above is that of subject’s major shareholders.
Parent Company
|
Registered Name: |
|
|
Registered Address: |
No.12, Creation Road IV, Science-Based
Industrial Park, Hsinchu, Taiwan, R.O.C. |
|
Date of Foundation: |
1986-4-2 |
|
Registration Number: |
21223267 |
|
Registry: |
Science Park Administration |
|
Registered Capital: |
NTD 1,400,000,000 (USD 47,600,000) (As of 2013.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 763,661,390 (USD 25,964,487) |
|
Legal Representatives: |
Zhaoyou Xu |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 4903 |
|
Date of Listed: |
2001-5-14 |
|
Date of Last Annual Return: |
2013-4-24 |
Office
|
Name: |
USA Office |
|
Address: |
188 Technology Drive, Suite N, Irvine, CA
92618, USA |
|
Tel: |
+1-949-679-5855 |
Core Management
Directors
|
1 |
|
|
Name |
Zhaoyou Xu |
|
Position |
Board President |
|
2 |
|
|
Name |
Jiankun Chen |
|
Position |
Vice-President |
|
3 |
|
|
Name |
Jinchen Hou |
|
Position |
Director |
|
4 |
|
|
Name |
Shumei Ke |
|
Position |
Director |
|
5 |
|
|
Name |
Weiyun Huang |
|
Position |
Director/ Manager |
|
Date of Appointment |
2010-1-4 |
|
6 |
|
|
Name |
Dexiang Feng |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 40 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
12Fl., No.18, Sec.1, Chang-An East Road, Taipei City 104, Taiwan,
R.O.C. |
Operation
Information
Subject is engaged in providing services of network communication solution and value added mobile applications, etc.
Subject’s service region is mainly in Taiwan
domestic market.
It is introduced that subject imports some
technology from USA and Europe, etc.
Subject is the agent of the brand
“Midtronics”.
Subject’s major customer is “Chunghwa
Telecom”.
Major Solutions
|
Type |
Solution |
|
Transmission |
Multiservice SDH transmission backbone Metro WDM Systems Metro ATM Systems Multiservice Switch (MSS) Portfolio - Frame Relay, X.25 Network OSA clock systems |
|
IP |
Carrier Grade Multi-Service Router Platform Carrier Grade Metro Ethernet Switch Network Security Platform NGN Solutions & Integration IMS Solution & Convergence Integration |
|
Wireless |
Repeaters for GSM, DCS, WCDMA and their applications Accessories for Mobile Base Station (antenna & Tower Amplifier)
and their applications Micro/Pico 2G/3G Repeaters and their applications Wimax Base Station and Repeaters Wireless Coverage Field Testing, Measuring & Post Analysis Point-to-Point Microwave System, 6~38 GHz Point-to-Multipoint Microwave System, 5.4 GHz, 5.8 GHz, & 26 GHz Millimeter Wave Gigabit Ethernet Solution, 60 GHz / 80 GHz |
|
Application |
3G Hsdpa And Wimax Acceleration Solution Network Management System (nms) For Wire/Wireless Network Elements Customized Development For Mobile Multimedia Application Optimization Tools & Services For Wire/Wireless Networks Network Security, Monitoring & Management |
|
HFC Network |
HFC High Speed Broadand Access & Applicaiton Full HD Video Compression and Content Distribution Design, Implementation and Integration of Digital Headend Conditional Access Integration & Value Added Services |
|
Battery Testing |
-- |
The registered activities of subject:
|
Business Code |
Details |
|
CC01080 |
Manufacturing of electronic components |
|
E701020 |
Installation of KU satellite TV channels, C channel equipment |
|
E701030 |
Installation of RF equipment controlled by telecom |
|
E605010 |
Installation of computer |
|
F113020 |
Wholesale of electrical equipment |
|
F113030 |
Wholesale of precise instrument |
|
F113050 |
Wholesale of computer and office equipment |
|
F113070 |
Wholesale of telecommunications equipment |
|
F119010 |
Wholesale of electronic material |
|
F118010 |
Wholesale of software |
|
F213010 |
Retail of electrical equipment |
|
F213030 |
Retail of computer and office equipment |
|
F213040 |
Retail of precise instrument |
|
F213060 |
Retail of telecommunications equipment |
|
F218010 |
Retail of software |
|
F219010 |
Retail of electronic material |
|
F401010 |
International trade business |
|
I301010 |
Software service |
|
I301020 |
Data processing service |
|
I301030 |
Electronic information supply service |
|
I501010 |
Product design |
|
IZ99990 |
Other industry and commerce service |
|
JZ99050 |
Agency business |
|
F401021 |
Import of RF equipment controlled by telecom |
|
I401010 |
General advertising services |
|
I103060 |
Management consulting business |
|
E701011 |
Telecommunication engineering business |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
It is introduced that the
details of settlements are to be negotiated.
Subject has no obligations to disclose its
financial statements to the third party according to the relevant policy in
Taiwan and the only source from which we can obtain the information is the
subject itself.
Subject’s relevant staff Ms. Zhang declined to
disclose its financials citing the grounds of company’s confidentiality; from
other source we can not obtain the relevant information, either.
We found the consolidated financial information of subject’s parent
company (United Fiber Optic
Communication Inc.) from public files for reference.
Consolidated Balance Sheet
Unit: NTD/000
|
2012-12-31 |
2011-12-31 |
|
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
377,730.00 |
350,752.00 |
|
Changes in the fair value of the financial asset on profit and
loss-flow |
170.00 |
0.00 |
|
Financial assets available for sale-current |
30,037.00 |
61,191.00 |
|
Notes receivable - net |
289.00 |
3,085.00 |
|
Accounts receivable - net |
222,619.00 |
130,466.00 |
|
Inventories |
113,035.00 |
84,211.00 |
|
Construction in process |
299,790.00 |
231,291.00 |
|
Other current assets |
33,617.00 |
20,952.00 |
|
Other current assets |
1,077,287.00 |
881,948.00 |
|
Funds and investments |
|
|
|
Financial assets available for sale- non current |
68,844.00 |
56,073.00 |
|
Investments |
22,692.00 |
18,969.00 |
|
Funds and investments |
91,536.00 |
75,042.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
0.00 |
23,370.00 |
|
Buildings and structures |
213,783.00 |
226,160.00 |
|
Machinery and equipment |
300,465.00 |
303,848.00 |
|
Transportation equipment |
10,315.00 |
9,598.00 |
|
Office equipment |
26,186.00 |
26,648.00 |
|
Fixed assets cost |
550,749.00 |
589,624.00 |
|
Accumulated depreciation |
-382,881.00 |
-381,411.00 |
|
Accumulated impairment - fixed assets |
0.00 |
-4,036.00 |
|
Construction in process and prepayment for equipments |
1,264.00 |
0.00 |
|
Fixed assets |
169,132.00 |
204,177.00 |
|
Intangible Assets |
|
|
|
Other Assets |
|
|
|
Guarantee deposits paid |
16,947.00 |
34,939.00 |
|
Deferred charges |
8,082.00 |
6,940.00 |
|
Other assets - other |
61,321.00 |
102,212.00 |
|
Other assets |
86,350.00 |
144,091.00 |
|
Assets |
1,424,305.00 |
1,305,258.00 |
|
Liabilities and Stockholders’ Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowing |
6,547.00 |
1,667.00 |
|
Changes in the fair value of the financial liability on profit and
loss-flow |
0.00 |
1,140.00 |
|
Accounts payable |
264,666.00 |
124,279.00 |
|
Income tax payable |
3,893.00 |
4,324.00 |
|
Billing on contract |
40,581.00 |
34,834.00 |
|
Long-term liabilities - current portion |
13,333.00 |
196,034.00 |
|
Other current liabilities |
66,497.00 |
54,989.00 |
|
Current liabilities |
395,517.00 |
417,267.00 |
|
Long term Liabilities |
|
|
|
Bonds payable |
79,562.00 |
0.00 |
|
Long-term loans |
16,667.00 |
30,000.00 |
|
Long term liabilities |
96,229.00 |
30,000.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Retirement allowance reserve/ Accrued pension liabilities |
13,704.00 |
13,034.00 |
|
Guarantee deposit received |
419.00 |
886.00 |
|
Other liabilities |
14,123.00 |
13,920.00 |
|
Liabilities |
505,869.00 |
461,187.00 |
|
Stockholders’ Equity |
|
|
|
Capital |
|
|
|
Common stock |
762,480.00 |
761,690.00 |
|
Capital Surplus |
|
|
|
Capital surplus - share premium |
9,947.00 |
317.00 |
|
Capital surplus - long-term investment |
487.00 |
0.00 |
|
Capital surplus - stock options |
7,097.00 |
16,720.00 |
|
Capital surplus |
17,531.00 |
17,037.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
11,194.00 |
5,817.00 |
|
Special reserve |
47,568.00 |
5,508.00 |
|
Unappropriated retained earnings |
68,554.00 |
66,603.00 |
|
Retained earnings |
127,316.00 |
77,928.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
-353.00 |
-353.00 |
|
Net loss not recognized as pension cost |
-13,664.00 |
-12,964.00 |
|
Unrealized gains (losses) on financial instruments |
-22,157.00 |
-34,251.00 |
|
Stockholders' equity and other adjustment |
-36,174.00 |
-47,568.00 |
|
Minority equity |
47,283.00 |
34,984.00 |
|
Stockholders - equity |
918,436.00 (USD 31,226,824.00) |
844,071.00 (USD 28,698,414.00) |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
0.00 |
0.00 |
|
Equivalent shares of outstandings of advance receipts for common stock
(unit: share) |
0.00 |
0.00 |
(As of 2013.05, 1 HKD = 0.0340
USD)
Consolidated
Profit and Loss Account
Unit: NTD/000
|
Date |
2012 |
2011 |
|
Sales |
1,545,204.00 (USD 52,536,936.00) |
1,034,841.00 (USD 35,184,594.00) |
|
Sales returns |
1,143.00 |
248.00 |
|
Sales |
1,544,061.00 |
1,034,593.00 |
|
Operating income |
1,544,061.00 |
1,034,593.00 |
|
Cost of sales |
1,276,704.00 |
809,834.00 |
|
Operating costs |
1,276,704.00 |
809,834.00 |
|
Gross profit (loss) from operations |
267,357.00 |
224,759.00 |
|
Selling expense |
100,728.00 |
101,516.00 |
|
General and administrative expenses |
70,404.00 |
59,444.00 |
|
Research and development expenses |
17,420.00 |
14,907.00 |
|
Operating expenses |
188,552.00 |
175,867.00 |
|
Operating income (loss) |
78,805.00 |
48,892.00 |
|
Non-Operating Income |
|
|
|
Interest income |
1,926.00 |
4,491.00 |
|
Investment income |
0.00 |
2,052.00 |
|
Dividends |
0.00 |
2,052.00 |
|
Gains from disposal of fix assets |
0.00 |
429.00 |
|
Disposal of investment interests |
542.00 |
0.00 |
|
Foreign exchange gains |
1,183.00 |
1,162.00 |
|
Rental income |
1,753.00 |
2,285.00 |
|
Gain on valuation of financial asset |
1,367.00 |
1,817.00 |
|
Miscellaneous income |
20,935.00 |
15,156.00 |
|
Non-operating revenues and gains |
27,706.00 |
27,392.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
4,239.00 |
5,468.00 |
|
Investment loss recognized under equity method |
1,008.00 |
1,289.00 |
|
Investment losses |
1,008.00 |
1,289.00 |
|
Loss on disposal of fixed assets |
497.00 |
148.00 |
|
Miscellaneous disbursements |
13,433.00 |
62.00 |
|
Non-operating expenses and losses |
19,177.00 |
6,967.00 |
|
Income from continuing operations before income tax |
87,334.00 |
69,317.00 |
|
Income tax expense (benefit) |
6,198.00 |
6,441.00 |
|
Income from continuing operations |
81,136.00 |
62,876.00 |
|
Consolidated net profits and losses |
68,430.00 |
53,774.00 |
|
Minority equity gains and losses |
12,706.00 |
9,102.00 |
|
Consolidated profit and loss |
81,136.00 |
62,876.00 |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
0.90 |
0.71 |
|
Diluted Earnings Per Share |
|
|
|
Diluted earnings per share |
0.77 |
0.60 |
(As of 2013.05, 1 HKD = 0.0340
USD)
Consolidated Cash Flows
Unit: NTD/000
|
Date |
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Consolidated profit and loss |
81,136.00 |
62,876.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
14,831.00 |
15,203.00 |
|
Amortization Expense |
1,683.00 |
1,554.00 |
|
-1,310.00 |
-1,817.00 |
|
|
3,865.00 |
4,697.00 |
|
|
Investment Losses Recognized Under Equity Method |
1,008.00 |
1,289.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
497.00 |
-281.00 |
|
Losses (gains) on Disposal of Available-for-sale Non Current Assets |
-17,375.00 |
0.00 |
|
Losses (gains) on Disposal of Investment |
-542.00 |
0.00 |
|
Losses (gains) on redeemed bonds payable |
10,467.00 |
0.00 |
|
Loss (Gain) on Deferred Income Tax |
-951.00 |
-714.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
-57.00 |
0.00 |
|
Decrease (Increase) in Notes Receivable |
2,796.00 |
-2,617.00 |
|
Decrease (Increase) in Accounts Receivable |
-92,153.00 |
60,954.00 |
|
Decrease (Increase) in Inventories |
-28,824.00 |
-22,694.00 |
|
Decrease (Increase) In Construction in Process Reduced Remaining Sum
of Billing on Contract |
-68,499.00 |
-74,851.00 |
|
Decrease (Increase) in Prepaid Expenses |
-8,744.00 |
-8,412.00 |
|
Increase (Decrease) in Accounts Payable |
140,387.00 |
12,442.00 |
|
Increase (Decrease) in Income Tax Payable |
-431.00 |
2,316.00 |
|
Increase (Decrease) in Billing on Contract Reduced Remaining Sum of
Construction in Process |
5,747.00 |
733.00 |
|
Increase (Decrease) in Other Current Liabilities |
14,187.00 |
10,093.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
-30.00 |
-9,958.00 |
|
Net Cash Provided by (Used in) Operating Activities |
57,688.00 |
50,813.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale financial assets |
-30,573.00 |
-61,000.00 |
|
Proceeds from sale of Available-for-sale Financial Assets |
61,542.00 |
0.00 |
|
Income from long-term equity investments under the equity method |
-4,500.00 |
0.00 |
|
Proceeds from Available-for-sale Non Current Asset |
46,286.00 |
0.00 |
|
Purchase of Property, Plant and Equipment |
-9,194.00 |
-5,957.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
429.00 |
0.00 |
|
Increase (Decrease) in Guaranteed Deposits Paid |
17,992.00 |
12,961.00 |
|
Increase in Deferred Charges |
-2,825.00 |
-234.00 |
|
Increase (Decrease) in Restricted Assets |
37,492.00 |
36,984.00 |
|
Net Cash Provided by (Used in) Investing Activities |
116,649.00 |
-17,246.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
4,880.00 |
-20,227.00 |
|
Redeemed and Repurchased Convertible Bond |
-117,414.00 |
0.00 |
|
Repayment of Long-term Debt |
-13,333.00 |
-13,333.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
-467.00 |
311.00 |
|
Issued Cash Dividends |
-19,042.00 |
0.00 |
|
Employees Execute Stock Option |
797.00 |
2,864.00 |
|
Changes in minority interest |
-2,780.00 |
-402.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-147,359.00 |
-30,787.00 |
|
Exchange Influence |
0.00 |
1.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
26,978.00 |
2,781.00 |
|
Cash and Cash Equivalents, Beginning of year |
350,752.00 |
347,971.00 |
|
Cash and Cash Equivalents, End of year |
377,730.00 |
350,752.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
380.00 |
788.00 |
|
Interest Paid- Excluding Capitalized Interest |
380.00 |
788.00 |
|
Income Tax Paid |
7,580.00 |
4,106.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
13,333.00 |
13,333.00 |
|
Fixed Assets Reclassified Available-for-sale Non Current Assets |
28,911.00 |
0.00 |
|
Other |
487.00 |
-14,707.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Cash Received from Disposal of Fix Assets |
|
|
|
Proceeds from Sale of Property and Equipment |
0.00 |
429.00 |
|
Increase (Decrease) in other account receivable – Disposal of Fix
Assets |
429.00 |
-429.00 |
|
Cash Received from Disposal of Fix Assets |
429.00 |
0.00 |
|
Other Supplemental Information |
|
|
|
Purchase of Available-for-sale financial assets |
30,523.00 |
61,050.00 |
|
Increase in Investment Payable |
50.00 |
-50.00 |
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
Up to date of reporting, no existing or latent
litigation of the subject has been found.
|
Name |
Ms. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.91 |
|
|
1 |
Rs.84.44 |
|
Euro |
1 |
Rs.71.31 |
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.