|
Report Date : |
01.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
GEMTEK TECHNOLOGY CO., LTD. |
|
|
|
|
Registered Office : |
No.15-1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.06.1988 |
|
|
|
|
Com. Reg. No.: |
22960571 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and sales of communication
product |
|
|
|
|
No. of Employees : |
About 1200 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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.15-1,
Zhonghua Rd., Hukou Township, Hsinchu County 30352, Taiwan R.O.C. |
|
Supplied Address: |
No.15-1 Zhonghua
Road, Hsinchu Industrial Park, Hukou, Hsinchu, Taiwan (R.O.C.) ,30352 |
|
Telephone Number: |
+886-3-598-5535 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as
above.
|
Registered Name: |
GEMTEK TECHNOLOGY CO., LTD. |
|
Registered Address: |
No.15-1, Zhonghua Rd., Hukou Township,
Hsinchu County 30352, Taiwan R.O.C. |
|
Date of Foundation: |
1988-6-29 |
|
Registration Number: |
22960571 |
|
Registry: |
Department of Commerce, Ministry of
Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD
5,000,000,000 (USD 169,500,000) (As of 2013.10, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 3,093,098,910 (USD 104,856,053) |
|
Legal Representatives: |
Hongwen Chen |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on
1988-6-29 with registered number 22960571
as Joint Stock Company in
Taiwan.
Subject listed on Taiwan Stock Exchange on
2003-6-30
|
Subscription Shares |
|
|
Hongwen Chen |
3,852,937 |
|
Fuzan Cai |
996,732 |
|
Zhengren Yang |
1,095,269 |
|
Ronghui Xu |
927 |
|
Yueji Zhang |
3,000,715 |
|
Liheng investment limited(literal translation) |
800,000 |
|
Bangmao Investment Co., Ltd. iteral
translation) |
800,000 |
|
Xiucheng Shen |
770,795 |
|
Zhengtong Wu |
200,000 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Registered Name: |
Liheng investment limited(literal translation) |
|
Registered Address: |
7/F, No. 59, Songjiang Road, Zhongshan District,
Taipei City |
|
Date of Foundation: |
2007-4-23 |
|
Registration Number: |
28489277 |
|
Registry: |
Taipei City Goverment |
|
Registered Capital: |
NTD 10,000,000
(USD 339,000) (As of 2013.10, 1 NTD = 0.0339 USD) |
|
Legal Representatives: |
Luode Fu |
|
Legal Form: |
Private Limited Liability Company |
|
Principal Activities: |
General Investment |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2011-5-11 |
|
2 |
|
|
Registered Name: |
Bangmao Investment Co., Ltd. iteral
translation) |
|
Registered Address: |
3/F, No. 27, Yanyi Road, Xinzhu City |
|
Date of Foundation: |
1998-4-27 |
|
Registration Number: |
16329374 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
NTD 400,000,000 (USD 13,560,000) (As of 2013.10, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 370,000,000 (USD 12,543,000) |
|
Legal Representatives: |
Maozhen Cai |
|
Legal Form: |
Joint Stock Company |
|
Principal Activities: |
General Investment |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2011-10-13 |
|
3 |
|
|
Name: |
Gemtek Electronics (Kunshan) Co., Ltd |
|
Address: |
No.88, Xinzhu Road, Export Processing Zone
Suzhou, Jiangsu 215300. China |
|
Date of Registration: |
2005-4-6 |
|
Factory Registration Number: |
99700207 |
Factories
|
1 |
|
|
Name: |
Hukou Factory |
|
Address: |
No. 15-1, Zhonghua Road, Fengshan Village, Hukou Alley, Xinzhu Country |
|
Date of Registration: |
2005-4-6 |
|
Factory Registration Number: |
99700207 |
|
Factory Manager: |
|
|
Status: |
In Production |
|
Date of Last Annual Return: |
2005-4-6 |
|
2 |
|
|
Name: |
Xinzhu Factory |
|
Address: |
1, 2, 4, 5, F, No. 1, Renai Road, Fengshan Village, Hukou Township,
Xinzhu County |
|
Date of Foundation: |
1998-9-16 |
|
Factory Registration Number: |
99630148 |
|
Factory Manager: |
Hongwen Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2009-10-27 |
|
3 |
|
|
Name: |
Zhubei Factory |
|
Address: |
No. 41, Manbei Road, Xiangxing Alley, Zhubei City, Xinzhu County |
|
Date of Foundation: |
1997-12-31 |
|
Date of Registration: |
1998-1-14 |
|
Date Of Closing Business |
1999-10-14 |
|
Factory Registration Number: |
99196189 |
|
Factory Manager: |
Hongwen Chen |
|
Status: |
Close Business |
|
Date of Last Annual Return: |
1999-10-14 |
|
4 |
|
|
Name: |
Datong factory |
|
Address: |
6/F, No. 276, 1 Sec, Datong Road, Xizhi Town, New Taipei City |
|
Date of Foundation: |
1995-7-10 |
|
Date of Registration: |
1996-10-1 |
|
Date of Announcement abolished |
2004-9-16 |
|
Factory Registration Number: |
99185016 |
|
Factory Manager: |
Hongwen Chen |
|
Status: |
Announcement abolished |
|
Date of Last Annual Return: |
2004-9-16 |
Core Management
Directors
|
1 |
|
|
Name |
Hongwen Chen |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Fuzan Cai |
|
Position |
Director |
|
3 |
|
|
Name |
Zhengren Yang |
|
Position |
Director |
|
4 |
|
|
Name |
Ronghui Xu |
|
Position |
Director |
|
5 |
|
|
Name |
Yueji Zhang |
|
Position |
Director |
|
6 |
|
|
Name |
Yaogeng Zhao |
|
Position |
Independent Director |
|
7 |
|
|
Name |
Xiaoyun Teng |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Xiucheng Shen |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Zhengtong Wu |
|
Position |
Supervisor |
|
10 |
|
|
Name |
Limei Huang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 1200 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.15-1, Zhonghua Rd., Hukou Township, Hsinchu County 30352, Taiwan
R.O.C. |
Production
Information
Subject is engaged in manufacturing of communication product, etc.
Subject has factories in Taiwan and the mainland of China for
production.
Subject obtained the certification of ISO9001, ISO 14001.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Electronic components, semi-finished and finished products of research
and development, manufacture and sale |
|
-- |
Computer software, hardware and peripheral equipment research and
development, manufacture and sale |
|
-- |
The import and export trade business above |
|
CC01101 |
Controlled telecommunications radio-frequency devices manufacturing |
|
F401021 |
The controlled telecommunications radio-frequency devices of input
industry |
|
E701030 |
The controlled telecommunications radio-frequency devices installed
engineering |
|
F113070 |
Telecommunications equipment wholesale business |
|
F213060 |
Telecommunications equipment retail |
The components and raw material for production are purchased from both
home and abroad.
The subject is mainly engaged in sales of communication product, etc.
The major products sold by subject include wireless networking products,
broadband systems, network security systems, voice over internet protocol,
worldwide interoperability for microwave access, digital home products, UWB and
wireless SIP, bluetooth and GPS module, etc.
The subject sales regions include Asia,
America, Europe, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components And
Raw Material |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Components And
Raw Material |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Communication
product, etc. |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Communication
product, etc. |
L/C, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
1,141,298.00 |
502,470.00 |
|
Financial assets measured at fair value through profit or loss -
current |
149,877.00 |
42,712.00 |
|
Notes receivable - net |
15,044.00 |
2,677.00 |
|
Accounts receivable - net |
3,344,405.00 |
4,479,882.00 |
|
Other receivables - related parties |
439,183.00 |
1,163,225.00 |
|
Inventories |
245,441.00 |
382,815.00 |
|
Other current assets |
239,654.00 |
238,590.00 |
|
Current assets |
5,574,902.00 |
6,812,371.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
110,979.00 |
6,276.00 |
|
Financial assets carried at cost - non current |
135,960.00 |
20,991.00 |
|
Investments |
4,925,664.00 |
5,274,186.00 |
|
Funds and long-term investments |
5,172,603.00 |
5,301,453.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
328,168.00 |
328,168.00 |
|
Buildings and structures |
1,516,702.00 |
1,515,435.00 |
|
Machinery and equipment |
228,317.00 |
277,198.00 |
|
Other facilities |
263,218.00 |
232,391.00 |
|
Fixed assets cost |
2,336,405.00 |
2,353,192.00 |
|
Accumulated depreciation |
-701,775.00 |
-630,693.00 |
|
Construction in process and prepayment for equipments |
144.00 |
0.00 |
|
Fixed assets |
1,634,774.00 |
1,722,499.00 |
|
Intangible Assets |
|
|
|
OtherAssets |
|
|
|
Other assets - other |
128,532.00 |
151,861.00 |
|
Other assets |
128,532.00 |
151,861.00 |
|
Assets |
12,510,811.00 |
13,988,184.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
203,280.00 |
1,180,725.00 |
|
Financial liabilities measured at fair value through profit or loss -
current |
29,919.00 |
0.00 |
|
Notes payable |
30,860.00 |
58,888.00 |
|
Accounts payable |
256,927.00 |
346,751.00 |
|
Accounts payable - related parties |
377,529.00 |
1,600,020.00 |
|
Income tax payable |
130,781.00 |
41,535.00 |
|
Accrued expenses |
316,387.00 |
249,295.00 |
|
Other payables - related parties |
37,970.00 |
73,147.00 |
|
Advance receipts |
124,485.00 |
75,176.00 |
|
Other current liabilities |
48,801.00 |
57,981.00 |
|
Current liabilities |
1,556,939.00 |
3,683,518.00 |
|
Long term Liabilities |
|
|
|
Financial liabilities measured at fair value through profit or loss -
non current |
976.00 |
20,976.00 |
|
Bonds payable |
1,873,497.00 |
1,839,316.00 |
|
Long-term liabilities |
1,874,473.00 |
1,860,292.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Other liabilities - other |
240,596.00 |
212,542.00 |
|
Other liabilities |
240,596.00 |
212,542.00 |
|
Liabilities |
3,672,008.00 |
5,756,352.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
3,050,853.00 |
3,098,602.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
4,141,356.00 |
4,299,152.00 |
|
Capital surplus - long-term equity investments |
60,350.00 |
58,076.00 |
|
Capital surplus - other |
161,455.00 |
161,455.00 |
|
Capital surplus |
4,363,161.00 |
4,518,683.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
484,093.00 |
648,213.00 |
|
Unappropriated retained earnings |
854,267.00 |
-164,120.00 |
|
Retained earnings |
1,338,360.00 |
484,093.00 |
|
Stockholders' Equity and Other adjustmen |
|
|
|
Cumulative translation adjustments |
142,851.00 |
308,813.00 |
|
Unrealized gains (losses) on financial instruments |
-56,422.00 |
-40,434.00 |
|
Treasure stock |
0.00 |
-137,925.00 |
|
Equity adjustments |
86,429.00 |
130,454.00 |
|
Stockholdersˉ equity |
8,838,803.00 (USD 299,635,421.70) |
8,231,832.00 (USD 279,059,104.80) |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
0.00 |
3,057.00 |
|
|
0.00 |
0.00 |
(As of 2013.10, 1 NTD = 0.0339 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
24,070,973.00 (USD 816,005,984.70) |
25,993,264.00 (USD 881,171,649.60) |
|
Operating income |
24,070,973.00 |
25,993,264.00 |
|
Cost of sales |
21,012,770.00 |
23,794,220.00 |
|
Operating costs |
21,012,770.00 |
23,794,220.00 |
|
Gross profit (loss) from operations |
3,058,203.00 |
2,199,044.00 |
|
Selling expense |
603,084.00 |
811,954.00 |
|
General and administrative expenses |
247,850.00 |
228,804.00 |
|
Research and development expenses |
1,011,534.00 |
997,781.00 |
|
Operating expenses |
1,862,468.00 |
2,038,539.00 |
|
Operating income (loss) |
1,195,735.00 |
160,505.00 |
|
Non-Operating Income |
|
|
|
Interest income |
2,287.00 |
6,107.00 |
|
Dividends |
3,543.00 |
3,540.00 |
|
Investment income |
3,543.00 |
3,540.00 |
|
Gains on disposal of fixed assets |
0.00 |
460.00 |
|
Gains on sale of investments |
2,391.00 |
0.00 |
|
Foreign exchange gains |
0.00 |
115,083.00 |
|
Revaluation gain on financial assets |
64,965.00 |
0.00 |
|
Miscellaneous income |
59,383.00 |
49,239.00 |
|
Non-operating revenues and gains |
132,569.00 |
174,429.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
50,090.00 |
56,286.00 |
|
Losses from long-term equity investments under the equity method |
223,491.00 |
145,513.00 |
|
Investment loss |
223,491.00 |
145,513.00 |
|
Loss on disposal of fixed assets |
1,510.00 |
0.00 |
|
Loss on sale of investments |
0.00 |
34,320.00 |
|
Foreign exchange losses |
39,452.00 |
0.00 |
|
Impairment loss on assets |
20,000.00 |
0.00 |
|
Revaluation loss on financial assets |
0.00 |
15,218.00 |
|
Miscellaneous disbursements |
31.00 |
5,125.00 |
|
Non-operating expenses and losses |
334,574.00 |
256,462.00 |
|
Income from continuing operations before income tax |
993,730.00 |
78,472.00 |
|
Income tax expense (benefit) |
71,506.00 |
66,910.00 |
|
Income from continuing operations |
922,224.00 |
11,562.00 |
|
Net income (loss) |
922,224.00 (USD 31,263,393.60) |
11,562.00 (USD 391,951.80) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
3.01 |
0.04 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
2.53 |
0.04 |
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
922,224.00 |
11,562.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
117,506.00 |
136,036.00 |
|
Amortization Expense |
106,975.00 |
116,167.00 |
|
Provision (Reversal of Provision) for Bad Debts Losses |
0.00 |
129,458.00 |
|
Amortization of Discounts (Premiums) on Bonds Payable |
34,181.00 |
24,696.00 |
|
Effects of Exchange Rate Changes Of Bonds Payable |
0.00 |
44,060.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and
Obsolescence of Inventories |
-12,530.00 |
8,000.00 |
|
Loss (Gain) on Physical Inventory |
265.00 |
-1.00 |
|
Investment Loss (Income) Recognized under Equity Method |
223,491.00 |
145,513.00 |
|
Cash Dividends Received from Investments Accounted for under Equity
Method |
0.00 |
175,000.00 |
|
Loss (Gain) on Disposal of Property, Plan and Equipment |
1,510.00 |
-460.00 |
|
Loss (Gain) on Disposal of Investments |
-281.00 |
0.00 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
-64,965.00 |
15,218.00 |
|
Impairment Loss on Non-Financial Assets |
20,000.00 |
0.00 |
|
Loss (Gain) on Deferred Income Tax |
-63,697.00 |
17,175.00 |
|
Other Adjustments to Reconcile Net Income |
0.00 |
-1,381.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
-32,000.00 |
0.00 |
|
Decrease (Increase) in Accounts Receivable |
1,123,110.00 |
880,694.00 |
|
Decrease (Increase) in Other Receivable- Related Parties |
724,042.00 |
-764,840.00 |
|
Decrease (Increase) in Inventories |
149,639.00 |
138,215.00 |
|
Decrease (Increase) in Other Current Assets |
85,413.00 |
37,813.00 |
|
Increase (Decrease) in Accounts Payable |
-1,340,343.00 |
-1,874,981.00 |
|
Increase (Decrease) in Income Tax Payable |
89,246.00 |
38,462.00 |
|
Increase (Decrease) in Accrued Expenses |
67,092.00 |
-54,547.00 |
|
Increase (Decrease) in Other Payable - Related Parties |
-35,177.00 |
73,147.00 |
|
Increase (Decrease) in Receipts in Advance |
49,309.00 |
-14,679.00 |
|
Increase (Decrease) in Other Current Liabilities |
-9,180.00 |
46,797.00 |
|
Net Cash Provided by (Used in) Operating Activities |
2,155,830.00 |
-672,876.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale Financial Assets |
-123,191.00 |
0.00 |
|
Proceeds from Disposal of Available-for-sale Financial Assets |
-134,969.00 |
0.00 |
|
Acquisition of Investments Accounted for by Equity Method |
-30,883.00 |
-227,393.00 |
|
Purchase of Property, Plant and Equipment |
-37,235.00 |
-40,029.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
5,944.00 |
3,396.00 |
|
Decrease (Increase) in Refundable Deposits |
-962.00 |
184.00 |
|
Increase in Deferred Charges |
-79,750.00 |
-84,001.00 |
|
Decrease (Increase) in Other Assets |
-2,934.00 |
-3,609.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-403,980.00 |
-351,452.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
(977,445) ( |
1,158,590) |
|
Proceeds from Issuance of Bonds |
0.00 |
1,994,820.00 |
|
Repayments of Bonds |
0.00 |
-4,400.00 |
|
Cash Dividends Paid |
-92,041.00 |
-260,965.00 |
|
Exercise of Employee Stock Options |
0.00 |
61,382.00 |
|
Purchase of Treasury Stock |
-43,536.00 |
0.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-1,113,022.00 |
632,247.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
638,828.00 |
-392,081.00 |
|
Cash and Cash Equivalents, Beginning of year |
502,470.00 |
894,551.00 |
|
Cash and Cash Equivalents, End of year |
1,141,298.00 |
502,470.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
16,316.00 |
33,083.00 |
|
Interest Paid- Excluding Capitalized Interest |
16,316.00 |
33,083.00 |
|
Income Tax Paid |
45,958.00 |
8,954.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Conversion of Bonds to Common Stock |
0.00 |
821,729.00 |
|
Accounts Receivable - Related Parties Transferred to Investments |
0.00 |
291,300.00 |
|
Treasury Stock Retired |
181,461.00 |
0.00 |
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
1 |
|
|
Trial Number: |
2011,Zhongsu, 137 |
|
Date of Trial: |
2012-12-7 |
|
Reason: |
|
|
2 |
|
|
Trial Number: |
2010, Bu, 982 |
|
Date of Trial: |
2010-11-29 |
|
Reason: |
Payment for damages |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.29 |
|
Euro |
1 |
Rs.84.12 |
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.