MIRA
INFORM REPORT
|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
CONCOURSE INTERNATIONAL INC. |
|
|
|
|
Registered Office : |
5F, No.52, Chung Shan N. Rd., Sec.2, Taipei |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.04.1973 |
|
|
|
|
Com. Reg. No.: |
04369267 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading of food and beverage, etc |
|
|
|
|
No. of Employees : |
About 25 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 |
Contact Points
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2100-1563 |
|
Fax Number: |
Notes: The exact name and address are as
above.
Company Identification Details
History
Subject was incorporated
on 1973-4-18 with registered number 04369267
as Joint Stock Company in
Taiwan.
Shareholders
|
Name |
Subscription Shares |
|
Wei Chuan Foods Corporation |
6,439,435 |
The information above is that of subject’s major shareholders.
Subsidiaries
& Branches
Parent Company
|
Name |
Wei Chuan Foods Corporation |
|
Address |
No.125, Sungjiang Rd., Taipei, Taiwan, R.O.C. |
|
Telephone Number |
+886-2-2507-8221 |
|
Fax Number |
+886-2-2506-5222 |
|
Date of Foundation: |
1953-9-22 |
|
Registration Number: |
11347802 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 6,000,000,000 (USD 204,000,000) (As of 2013.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 5,060,629,140 (USD 172,061,391) |
|
Legal Representatives: |
Yingchong Wei |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 1201 |
|
Date of Listed: |
1962-2-9 |
|
Date of Last Annual Return: |
2013-1-15 |
Personnel Information
Core Management
Directors
|
1 |
|
|
Name |
Yingyun Wei |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Kaiyun Zhong |
|
Position |
Director |
|
3 |
|
|
Name |
Guangqi Xue |
|
Position |
Director |
|
4 |
|
|
Name |
Shengnan Zeng |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 25 Employees |
Operation
Information
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject is a trader of food and beverage, etc without any production
activities.
It is introduced that subject’s parent company has factories in
Taichung, Taiwan for production.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Trading of weights and measures |
|
-- |
Trading of all kinds of electronic equipment (except radio
transceivers) |
|
-- |
General import and export business (besides licensed business) |
|
-- |
Trading of germchit |
|
A102060 |
Grain industry |
|
F102030 |
Wholesale of alcohol and tobacco |
|
F203020 |
Retail of alcohol and tobacco |
|
F401161 |
Import of tobacco |
|
F401171 |
Import of alcohol |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted |
Subject purchases food and beverage from their
parent company’s factories.
Subject purchases food raw materials such as dairy
products, sugar, soybean, and corn from abroad for its parent company’s
factories production.
Subject is engaged
in sale food and beverage, etc.
Subject’s sales regions include Southeast
Asia, Japan, Europe, USA, Canada, South America, and Australia, etc.
The products sold by subject with the brand
“Wei Chuan”.
Major products
|
Type |
Product |
|
Convenience Food |
Pickled Vegetable Vegetarian Products Canned Fish Products Meat Products Fresh Soup |
|
Nutrition Food |
Mixed Cereal Meal Mixed Cereal Meal with Vegetable & Fruit |
|
Sauce |
Japanese Flavor Naturally Brewed Soy Sauce Soy Sauce |
|
Seasoning |
Seasoning Sauce, Mayonnaise |
|
Instant Noodles |
Vegetarian Noodles Beef Noodles |
|
Beverage |
Coffee Tea Drinks |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Settlements
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Food and
beverage |
Interior
Settlement, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Food raw
materials |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Food and
beverage |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Food and
beverage |
100% |
Financial Information
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. Wang 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 (Wei Chuan Foods Corporation) from public files for reference.
Consolidated Balance Sheet
Unit: NTD/000
|
Assets |
2012-12-31 |
2011-12-31 |
|
|
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
3,006,168.00 |
2,469,900.00 |
|
Financial assets measured at fair value through profit or loss -
current |
520.00 |
0.00 |
|
Notes receivable - net |
123,627.00 |
98,458.00 |
|
Accounts receivable - net |
3,125,517.00 |
2,831,306.00 |
|
Accounts receivable - related parties - net |
405,251.00 |
296,328.00 |
|
Other receivables |
38,875.00 |
78,377.00 |
|
Other financial assets - current |
0.00 |
9,086.00 |
|
Inventories |
13,583,379.00 |
12,549,660.00 |
|
Construction in process (for construction contracting business) |
1,747,495.00 |
787,640.00 |
|
Billings on construction in process (for construction contracting
business) |
-1,528,338.00 |
-624,419.00 |
|
Other current assets |
418,099.00 |
438,200.00 |
|
Current assets |
20,920,593.00 |
18,934,536.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
4,449.00 |
4,032.00 |
|
Financial assets carried at cost - non current |
38,378.00 |
43,055.00 |
|
Equity investments under equity method |
133,029.00 |
11,398.00 |
|
Investments |
133,029.00 |
11,398.00 |
|
Other financial assets - non current |
85,480.00 |
9,400.00 |
|
Funds and long-term investments |
261,336.00 |
67,885.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
491,435.00 |
443,368.00 |
|
Buildings and structures |
4,333,445.00 |
2,719,069.00 |
|
Machinery and equipment |
5,526,781.00 |
4,508,235.00 |
|
Utilities equipment |
170,133.00 |
177,824.00 |
|
Refrigeration equipment |
371,728.00 |
391,346.00 |
|
Transportation equipment |
434,485.00 |
403,904.00 |
|
Office equipment |
928,512.00 |
890,445.00 |
|
Leased assets |
75,755.00 |
0.00 |
|
Leasehold improvements |
365,311.00 |
344,150.00 |
|
Other facilities |
3,709,248.00 |
2,886,357.00 |
|
Revaluation increment |
3,699,791.00 |
3,699,791.00 |
|
Cost and revaluation increment |
20,106,624.00 |
16,464,489.00 |
|
Accumulated depreciation |
-8,093,927.00 |
-7,493,393.00 |
|
Accumulated impairment - fixed assets |
-29,326.00 |
-12,732.00 |
|
Construction in process and prepayment for equipments |
711,793.00 |
945,113.00 |
|
Fixed assets |
12,695,164.00 |
9,903,477.00 |
|
Intangible Assets |
|
|
|
Goodwill |
122,521.00 |
125,653.00 |
|
Deferred pension cost |
23,875.00 |
30,223.00 |
|
Other intangible assets |
346,793.00 |
357,276.00 |
|
Intangible assets |
493,189.00 |
513,152.00 |
|
OtherAssets |
|
|
|
Rental assets |
256,778.00 |
290,734.00 |
|
Idled assets |
247,713.00 |
251,911.00 |
|
Guarantee deposits paid |
270,084.00 |
194,497.00 |
|
Deferred charges |
32,065.00 |
24,574.00 |
|
Long-term notes and accounts receivable |
1,949.00 |
548,442.00 |
|
Deferred income tax assets - non current |
145,948.00 |
125,004.00 |
|
Other assets - other |
33,766.00 |
30,886.00 |
|
Other assets |
988,303.00 |
1,466,048.00 |
|
Assets |
35,358,585.00 |
30,885,098.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
2,672,988.00 |
2,429,313.00 |
|
Short-term notes and bills payable |
549,974.00 |
343,985.00 |
|
Notes payable |
22,479.00 |
27,023.00 |
|
Accounts payable |
2,201,068.00 |
2,053,376.00 |
|
Accounts payable - related parties |
125,663.00 |
126,720.00 |
|
Income tax payable |
367,736.00 |
139,446.00 |
|
Accrued expenses |
2,407,879.00 |
1,873,730.00 |
|
Long-term liabilities - current portion |
7,315,859.00 |
119,971.00 |
|
Other current liabilities |
767,099.00 |
386,981.00 |
|
Current liabilities |
16,430,745.00 |
7,500,545.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
4,937,236.00 |
10,513,012.00 |
|
Long-term liabilities |
4,937,236.00 |
10,513,012.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
1,007,250.00 |
1,007,250.00 |
|
Reserves |
1,007,250.00 |
1,007,250.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
1,792,666.00 |
1,705,228.00 |
|
Guarantee deposits received |
90,509.00 |
80,057.00 |
|
Deferred income tax liabilities |
98,143.00 |
85,962.00 |
|
Other liabilities - other |
3,879.00 |
2,384.00 |
|
Other liabilities |
1,985,197.00 |
1,873,631.00 |
|
Liabilities |
24,360,428.00 |
20,894,438.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
5,060,629.00 |
5,060,629.00 |
|
Capital Surplus |
|
|
|
Capital surplus - long-term equity investments |
37,921.00 |
37,921.00 |
|
Capital surplus |
37,921.00 |
37,921.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
312,748.00 |
244,221.00 |
|
Special reserve |
632,352.00 |
632,352.00 |
|
Unappropriated retained earnings |
2,027,172.00 |
1,643,623.00 |
|
Retained earnings |
2,972,272.00 |
2,520,196.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
-18,038.00 |
72,060.00 |
|
Net loss not recognized as pension cost |
-654,891.00 |
-593,669.00 |
|
Unrealized gains (losses) on financial instruments |
3,549.00 |
3,132.00 |
|
Unrealized Revaluation Increment |
646,032.00 |
646,032.00 |
|
Equity adjustments |
-23,348.00 |
127,555.00 |
|
Minority interest |
2,950,683.00 |
2,244,359.00 |
|
Stockholders - equity |
10,998,157.00 (USD
373,937,338.00) |
9,990,660.00 (USD 339,682,440.00) |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of 2013.05, 1 NTD = 0.0340 USD)
Consolidated Profit and Loss Account
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
28,470,980.00 (USD 968,013,320.00) |
25,268,600.00 (USD
859,132,400.00) |
|
Sales returns |
168,391.00 |
176,887.00 |
|
Sales discounts and allowances |
290,021.00 |
212,035.00 |
|
Sales |
28,012,568.00 |
24,879,678.00 |
|
Engineering service revenue |
149,206.00 |
359,445.00 |
|
Construction and engineering revenue |
149,206.00 |
359,445.00 |
|
Other operating revenue |
410,334.00 |
399,555.00 |
|
Operating income |
28,572,108.00 |
25,638,678.00 |
|
Cost of sales |
17,784,811.00 |
16,295,447.00 |
|
Cost of engineering |
373,080.00 |
373,343.00 |
|
Cost of construction and engineering service |
373,080.00 |
373,343.00 |
|
Operating costs |
18,157,891.00 |
16,668,790.00 |
|
Gross profit (loss) from operations |
10,414,217.00 |
8,969,888.00 |
|
Selling expense |
8,100,645.00 |
7,206,392.00 |
|
General and administrative expenses |
937,967.00 |
798,278.00 |
|
Research and development expenses |
209,184.00 |
169,281.00 |
|
Operating expenses |
9,247,796.00 |
8,173,951.00 |
|
Operating income (loss) |
1,166,421.00 |
795,937.00 |
|
Non-Operating Income |
|
|
|
Interest income |
38,032.00 |
14,031.00 |
|
Dividends |
369.00 |
4,300.00 |
|
Investment income |
369.00 |
4,300.00 |
|
Gains on disposal of fixed assets |
0.00 |
65,368.00 |
|
Foreign exchange gains |
5,474.00 |
38,100.00 |
|
Rent income |
24,162.00 |
35,962.00 |
|
Reversal of provision for bad debts |
0.00 |
3,187.00 |
|
Revaluation gain on financial assets |
2,813.00 |
0.00 |
|
Revaluation gain on financial liabilities |
0.00 |
724.00 |
|
Miscellaneous income |
94,125.00 |
100,877.00 |
|
Non-operating revenues and gains |
164,975.00 |
262,549.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
178,126.00 |
202,575.00 |
|
Losses from long-term equity investments under the equity method |
2,458.00 |
23,497.00 |
|
Investment loss |
2,458.00 |
23,497.00 |
|
Loss on disposal of fixed assets |
29,385.00 |
0.00 |
|
Impairment loss on assets |
16,594.00 |
0.00 |
|
Miscellaneous disbursements |
82,870.00 |
65,245.00 |
|
Non-operating expenses and losses |
309,433.00 |
291,317.00 |
|
Income from continuing operations before income tax |
1,021,963.00 |
767,169.00 |
|
Income tax expense (benefit) |
441,814.00 |
214,224.00 |
|
Income from continuing operations |
580,149.00 |
552,945.00 |
|
Consolidated net income attributable to parent company |
755,714.00 |
685,268.00 |
|
Minority interest income |
-175,565.00 |
-132,323.00 |
|
Consolidated net income |
580,149.00 (USD 19,725,066.00) |
552,945.00 (USD
18,800,130.00) |
|
Primary Earnings per Share |
|
|
|
Income (loss) from continuing operations |
1.49 |
1.35 |
|
Primary earnings per share |
1.49 |
1.35 |
|
Diluted earnings per share |
|
|
Consolidated Cash Flows
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Consolidated Net Income (Loss) |
580,149.00 |
552,945.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
928,550.00 |
790,612.00 |
|
Amortization Expense |
23,189.00 |
19,818.00 |
|
Provision (Reversal of Provision) for Bad Debt Expense |
5,158.00 |
-3,187.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence
of Inventories |
9,600.00 |
13,890.00 |
|
Investment Loss (Income) Recognized under Equity Method |
2,458.00 |
23,497.00 |
|
Cash Dividends Received from Investments Accounted for under Equity
Method |
0.00 |
799.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
29,385.00 |
-65,368.00 |
|
Reversal of Impairment Loss on Non-Financial Assets |
16,594.00 |
0.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
-520.00 |
0.00 |
|
Decrease (Increase) in Notes Receivable |
-25,169.00 |
-22,640.00 |
|
Decrease (Increase) in Accounts Receivable |
-299,168.00 |
-363,406.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
-108,923.00 |
-166,523.00 |
|
Decrease (Increase) in Other Receivables |
39,954.00 |
35,666.00 |
|
Decrease (Increase) in Inventories |
-1,012,909.00 |
-209,685.00 |
|
Decrease (Increase) in Balance of the Construction-in-progress Account
Exceeds the Balance of Billings on Construction-in-progress |
-87,639.00 |
-141,457.00 |
|
Decrease (Increase) in Other Current Assets |
23,932.00 |
-79,438.00 |
|
Decrease (Increase) in Deferred Tax Assets |
-27,655.00 |
-29,186.00 |
|
Decrease (Increase) in Other Operating Assets |
0.00 |
4,494.00 |
|
Increase (Decrease) in Notes Payable |
-4,544.00 |
-26,966.00 |
|
Increase (Decrease) in Accounts Payable |
173,506.00 |
-77,061.00 |
|
Increase (Decrease) in Accounts Payable - Related Parties |
-26,731.00 |
16,654.00 |
|
Increase (Decrease) in Income Tax Payable |
228,290.00 |
86,852.00 |
|
Increase (Decrease) in Accrued Expenses |
571,299.00 |
246,792.00 |
|
Decrease (Increase) in the Balance of Billings on
Construction-in-progress Exceeds Balance of the Construction-in-progress
Account |
0.00 |
-47,294.00 |
|
Increase (Decrease) in Other Current Liabilities |
369,927.00 |
87,596.00 |
|
Increase (Decrease) in Deferred Tax Liabilities |
22,372.00 |
39,934.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
32,564.00 |
45,220.00 |
|
Net Cash Provided by (Used in) Operating Activities |
1,463,669.00 |
732,558.00 |
|
Cash Flows from Investing Activities |
|
|
|
Cash Dividends Received from Financial Assets Carried at Cost |
4,677.00 |
5,143.00 |
|
Acquisition of Long-term Investments under Equity Method |
-122,500.00 |
0.00 |
|
Purchase of Property, Plant and Equipment |
-3,327,234.00 |
-1,993,268.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
12,544.00 |
25,926.00 |
|
Decrease (Increase) in Refundable Deposits |
-75,587.00 |
-9,560.00 |
|
Increase in Deferred Charges |
-19,329.00 |
-35,598.00 |
|
Decrease (Increase) in Restricted Assets |
-66,994.00 |
91,575.00 |
|
Purchase of Intangible Assets |
-12,177.00 |
-213,350.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-3,606,600.00 |
-2,129,132.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
287,530.00 |
989,570.00 |
|
Increase (Decrease) in Short-term Notes and Bills Payable |
205,989.00 |
164,028.00 |
|
Proceeds from Long-term Debt |
4,267,464.00 |
2,090,421.00 |
|
Repayments of Long-term Debt |
-2,631,094.00 |
-1,138,462.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
10,452.00 |
20,297.00 |
|
Cash Dividends Paid |
-303,638.00 |
-303,638.00 |
|
Changes in Minority Interest |
881,889.00 |
84,902.00 |
|
Other Financing Activities |
0.00 |
0.00 |
|
Net Cash Provided by (Used in) Financing Activities |
2,718,592.00 |
1,907,118.00 |
|
Effect of Exchange Rate Changes |
-39,393.00 |
158,321.00 |
|
Net Effects Changes in Consolidated Individual |
0.00 |
0.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
536,268.00 |
668,865.00 |
|
Cash and Cash Equivalents, Beginning of year |
2,469,900.00 |
1,801,035.00 |
|
Cash and Cash Equivalents, End of year |
3,006,168.00 |
2,469,900.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
116,697.00 |
219,748.00 |
|
Interest Paid- Excluding Capitalized Interest |
116,697.00 |
219,748.00 |
|
Income Tax Paid |
179,710.00 |
104,415.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Others |
0.00 |
706.00 |
|
Other Supplemental Information |
|
|
|
Capital lease disposal of assets price |
0.00 |
566,262.00 |
|
Lease Receivables |
0.00 |
-566,262.00 |
|
Receive Cash |
0.00 |
0.00 |
|
Land -revaluation increments |
0.00 |
904,375.00 |
|
Capital surplus from assets revaluation |
0.00 |
-258,343.00 |
|
Unrealized revaluation increments |
0.00 |
646,032.00 |
Bankers
Subject declined to disclose its bank details;
from other source we cannot obtain the relevant information, either.
Public Record
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.
Interview Details
|
Name |
Mr. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
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.