|
Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
DOOSAN ENGINE CO., LTD. |
|
|
|
|
Registered Office : |
69-3, Sinchon-dong, Changwon-si,
Gyeongsangnam-do, Korea 641-370 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
30.12.1999 |
|
|
|
|
Com. Reg. No.: |
609-81-40128 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Internal Combustion Piston Engines |
|
|
|
|
No. of Employees : |
1,013 |
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) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SOUTH KOREA - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and is currently the world's 12th largest economy. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. Korea''s export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-South Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The incoming administration in 2013, following the December 2012 presidential election, is likely to face the challenges of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP.
|
Source : CIA |
|
Company
Name |
DOOSAN ENGINE CO., LTD. |
|
Registered Address |
69-3, Sinchon-dong, Changwon-si,
Gyeongsangnam-do, Korea |
|
Zip Code |
641-370 |
|
Tel |
+82-55-260-6000 |
|
Fax |
+82-55-282-0588 |
|
E-mail |
wookyu.kim@doosan.com;humjin.baek@doosan.com |
|
Website |
www.doosanengine.com |
|
Trading Address |
69-3, Sinchon-dong, Changwon-si,
Gyeongsangnam-do, Korea (New Address System : 18, Gongdan-ro 21beon-gil,
Seongsan-gu, Changwon-si, Gyeongsangnam-do, Korea) |
|
Tel |
+82-55-260-6000 |
|
Fax |
+82-55-282-0588 |
|
Other Address-Geoje Office |
1, Aju-dong ,Geoje-si, Gyeongsangnam-do,
Korea |
|
Tel |
+82-55-682-2261 |
|
Fax |
+82-55-681-7427 |
|
Other Address-Busan Office |
29, Bongnae-dong 5-ga ,Yeongdo-gu, Busan,
Korea |
|
Tel |
+82-51-417-1388 |
|
Fax |
+82-51-410-8621 |
|
Type |
Export |
|
Industry |
Manufacture of Internal Combustion Piston Engines |
|
Main Business |
Diesel Engine |
|
Established (mm/dd/yyyy) |
12/30/1999 |
The Subject owns
the premises of Registered Address/Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Engines(26101500) |
|
Sell |
Diesel power plants(26131501) |
|
Sell |
Crankshaft |
|
Sell |
Turbocharger |
|
Name |
Kim Dong-Cheol |
|
Date of Birth |
06/27/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
69,500,000,000 |
|||||||||||||||||||||
|
Employees |
1,013 |
|||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 082740) as of 01/05/2011 A Company of DOOSAN GROUP |
|||||||||||||||||||||
|
Bank Details |
Korea Exchange Bank-Changwon Branch |
|||||||||||||||||||||
|
Corporate Registered No. |
194211-0038423 |
|||||||||||||||||||||
|
Business Registered No. |
609-81-40128 |
|||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 24023803 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
The engine business of Doosan Heavy Industries
& Construction (former Hanjung), launched in 1983 and that of Samsung
Heavy Industries, launched in 1994 were merged. In the merging process,
Daewoo Shipbuilding & Marine Engineering joined this new company as a
major shareholder. On January 1, 2000, Doosan Engine was officially set up
under the banner of Doosan with the first initial letters of these three
companies(HSD ENGINE CO., LTD.) 12/30/1999
Incorporated as HSD ENGINE CO., LTD. 03/2005 Changed company name to the
present name 11/2005 Awarded US$500 Million Export Top
Prize 11/2007 Awarded 1Billion Export Top Prize 12/29/2009 Increased capital to
62,500,000,000 KRW from 30,000,000,000 KRW |
|||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Kim Dong-Cheol |
Korean |
1952.06.27 |
Seoul National University, Korea |
|
Sr. Executive Director |
Mr. |
Cho Nam-Seok |
Korean |
1959.10.05 |
Korea University, Korea |
|
Executive Director |
Mr. |
Nam Sang-Min |
Korean |
1955.04.01 |
Yonsei University, Korea |
|
Executive Director |
Mr. |
Kim Jeong-Kwon |
Korean |
1955.06.30 |
Youngnam University, Korea |
|
Vice President & CFO |
Mr. |
Jang Myung-Ho |
Korean |
1964.02.07 |
Gyungbuk National Uiniversity, Korea |
|
Outside Director |
Mr. |
Oh Se-Jong |
Korean |
1943.06.08 |
UC Berkley, USA |
|
Outside Director |
Mr. |
Jung Koo-Young |
Korean |
1938.11.12 |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Yoon Yong-Seok |
Korean |
1954.10. |
George Washington University, USA |
|
Outside Director |
Mr. |
Lee Jae-Young |
Korean |
1965.12. |
Washington University, USA |
|
Outside Director |
Mr. |
Hwang Byung-Ki |
Korean |
1949.01.23 |
London University, UK |
|
Outside Director |
Mr. |
Joo Jong-Nam |
Korean |
1956.08.17 |
Massachusetts University, USA |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
426,034,775,211 |
1,511,065,247,294 |
4,999,845,134 |
|
|
(*)2012 |
1,377,618,958,445 |
1,672,968,308,719 |
54,366,505,061 |
|
(*)2011 |
2,005,949,262,462 |
2,051,480,611,768 |
209,636,479,757 |
|
(*)2010 |
1,831,615,390,618 |
2,229,611,103,972 |
266,059,737,115 |
|
2009 |
1,772,597,107,485 |
2,464,900,272,093 |
-249,695,256,019 |
|
2008 |
1,734,836,578,853 |
3,138,764,982,205 |
-512,779,968,953 |
|
2007 |
1,221,957,444,340 |
1,857,689,988,086 |
103,001,092,083 |
|
2006 |
1,016,816,117,889 |
934,211,090,107 |
52,418,002,030 |
|
2005 |
756,782,214,023 |
737,005,633,136 |
21,111,237,395 |
|
2004 |
588,395,875,988 |
637,788,986,998 |
3,111,534,708 |
|
2003 |
468,249,817,815 |
336,826,737,075 |
11,783,531,830 |
(*)Figures are based
on the K-IFRS Accounting System.
Financial
Description
|
Authorized Capital(KRW) |
120,000,000,000 |
|
Paid-Up Capital(KRW) |
69,500,000,000 |
|
Total Issues Shares |
69,500,000 |
Balance Sheet
|
|||
|
Unit : Korean Won |
01/01/2013~06/30/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
1,511,065,247,294 |
1,672,968,308,719 |
2,051,480,611,768 |
|
Current
Assets |
482,276,749,312 |
633,297,122,185 |
982,127,630,841 |
|
Cash & Cash Equivalents |
68,648,741,868 |
94,678,541,896 |
320,469,576,651 |
|
Current Financial Instruments |
110,000,000,000 |
170,016,124,100 |
146,614,526,202 |
|
Short-Term Receivables |
1,146,000,000 |
1,128,650,000 |
1,247,550,000 |
|
Trade Receivables & Other
Receivables |
64,352,589,926 |
85,273,333,022 |
150,427,478,141 |
|
Other Receivables-Construction |
4,665,911,275 |
5,930,477 |
55,876,191 |
|
Deferred Income Tax Assets |
453,728,982 |
- |
- |
|
Derivatives |
6,050,376,801 |
38,090,761,839 |
8,153,605,085 |
|
Confirmed Agreement Appraisal Assets |
35,799,335,796 |
20,627,029,543 |
66,708,349,474 |
|
Inventories |
176,119,251,756 |
205,200,840,990 |
247,231,575,247 |
|
Other Current Assets |
15,040,812,908 |
18,275,910,318 |
41,219,093,850 |
|
Non-Current
Assets |
1,028,788,497,982 |
1,039,671,186,534 |
1,069,352,980,927 |
|
Non-Current Financial Instruments |
1,785,577,812 |
1,765,725,601 |
4,290,192,960 |
|
Marketable Financial Instruments |
7,922,117,114 |
7,922,117,114 |
72,047,000 |
|
Investment_Related Companies |
363,994,102,690 |
363,994,102,690 |
365,024,719,731 |
|
Long-Term Receivables |
4,984,708,014 |
5,155,220,988 |
7,251,719,621 |
|
Other Long-Term Receivables |
12,729,432,220 |
14,958,733,970 |
8,131,176,298 |
|
Tangibles |
566,321,280,893 |
576,429,596,197 |
551,384,215,311 |
|
Intangibles |
20,970,022,260 |
18,614,288,888 |
14,536,132,373 |
|
Investment_Real Estates |
- |
- |
36,130,101,804 |
|
Derivatives |
369,308,379 |
12,352,565,282 |
3,752,006,943 |
|
Confirmed Agreement Appraisal Assets |
46,611,453,589 |
36,354,513,147 |
74,959,113,548 |
|
Other Non-Current Assets |
3,100,495,011 |
2,124,322,657 |
3,821,555,338 |
|
Total Liabilities |
861,742,239,373 |
1,028,488,896,541 |
1,461,182,444,094 |
|
Current
Liabilities |
584,773,677,609 |
710,931,856,014 |
1,207,088,087,624 |
|
Trade Payables & Other
Payables |
128,488,707,124 |
164,983,624,600 |
261,645,250,019 |
|
Other Payables-Construction |
21,109,318,767 |
19,416,602,363 |
34,079,376,921 |
|
Short-Term Borrowings |
19,473,523,128 |
29,828,495,145 |
23,306,698,323 |
|
Advance Receipts |
319,574,327,075 |
374,193,000,937 |
690,500,336,727 |
|
Current Portion of Long-Term
Debts |
68,982,000,000 |
64,266,000,000 |
69,198,000,000 |
|
Current Portion of Debentures |
- |
- |
79,945,544,602 |
|
Deferred Income Tax Credit |
- |
18,195,115,048 |
6,426,973,157 |
|
Derivatives |
14,780,887,673 |
3,330,156,254 |
33,080,119,987 |
|
Confirmed Agreement Appraisal Debts |
4,012,430,830 |
26,500,340,834 |
6,933,180,782 |
|
Other Current Liabilities |
8,352,483,012 |
10,218,520,833 |
1,972,607,106 |
|
Non-Current
Liabilities |
276,968,561,764 |
317,557,040,527 |
254,094,356,470 |
|
Long-Term Borrowings |
84,491,000,000 |
114,266,000,000 |
138,396,000,000 |
|
Debentures |
99,521,300,165 |
99,461,490,305 |
- |
|
Other Long-Term Borrowings |
1,497,276,660 |
1,057,450,866 |
2,332,156,206 |
|
Confirmed Salaries |
22,081,988,008 |
19,815,842,555 |
26,590,315,593 |
|
Derivatives |
5,223,251,275 |
2,112,892,517 |
17,936,849,494 |
|
Confirmed Agreement Appraisal Debts |
8,896,853,200 |
21,881,552,439 |
5,002,643,700 |
|
Finance Guarantee |
3,820,860,284 |
4,121,160,256 |
349,001,248 |
|
Provisions |
15,167,869,998 |
19,568,071,955 |
20,507,108,230 |
|
Deferred Income Tax Credit |
36,268,162,174 |
35,272,579,634 |
42,980,281,999 |
|
Capital
Stock |
69,500,000,000 |
69,500,000,000 |
69,500,000,000 |
|
Capital Surplus |
367,214,701,425 |
367,214,701,425 |
367,214,701,425 |
|
Others |
240,918,132 |
397,167,523 |
135,447,961 |
|
Other General Accumulated Amounts |
-136,854,571 |
-136,854,571 |
-333,792,311 |
|
Profit Surplus |
212,504,242,935 |
207,504,397,801 |
153,781,810,599 |
|
Total Equity |
649,323,007,921 |
644,479,412,178 |
590,298,167,674 |
|
Liab. & Shareholder’s Equity |
1,511,065,247,294 |
1,672,968,308,719 |
2,051,480,611,768 |
Income Statement
|
|||
|
Unit : Korean Won |
01/01/2013~06/30/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
426,034,775,211 |
1,377,618,958,445 |
2,005,949,262,462 |
|
Cost of Sold Goods |
392,108,408,706 |
1,224,471,146,479 |
1,643,634,050,361 |
|
Gross Profit |
33,926,366,505 |
153,147,811,966 |
362,315,212,101 |
|
Selling & Admin.
Expenses |
25,944,932,303 |
83,848,547,463 |
65,183,683,598 |
|
Operating Income |
7,981,434,202 |
69,299,264,503 |
297,131,528,503 |
|
Finance Income |
67,943,280,210 |
120,952,187,860 |
82,712,678,543 |
|
Finance Expenses |
68,891,969,721 |
119,418,727,442 |
76,290,640,093 |
|
Other Operating
Income |
1,645,050,984 |
13,234,832,799 |
4,900,658,036 |
|
Other Operating
Expenses |
2,630,473,074 |
11,812,205,822 |
23,244,862,628 |
|
Other Income |
|
|
-2,771,523,706 |
|
Income Before Taxes |
6,047,322,601 |
72,255,351,898 |
282,437,838,655 |
|
Income Taxes Expenses |
1,047,477,467 |
17,888,846,837 |
72,801,358,898 |
|
Net Income |
4,999,845,134 |
54,366,505,061 |
209,636,479,757 |
Cash Flows
|
|||
|
Unit : Korean Won |
01/01/2013~06/30/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Operating Activities Cash Flows |
-38,954,875,447 |
-184,905,897,449 |
147,081,537,595 |
|
Cash Flows from
Operating |
-17,280,191,273 |
-176,284,567,571 |
142,586,368,857 |
|
Net Income |
4,999,845,134 |
54,366,505,061 |
209,636,479,757 |
|
Adjustment |
167,856,646 |
47,315,630,720 |
131,744,103,973 |
|
Changes in Asset/
& Liability |
-22,447,893,053 |
-277,966,703,352 |
-198,794,214,873 |
|
Interests Received |
2,575,545,687 |
14,153,701,528 |
17,768,136,595 |
|
Interests Paid |
-5,550,317,524 |
-9,195,894,449 |
-12,619,715,213 |
|
Dividends Received |
826,620 |
- |
137,155,040 |
|
Income Taxes |
-18,700,738,957 |
-13,579,136,957 |
-790,407,684 |
|
Cash
Flows from Investing |
55,381,711,637 |
-47,640,073,910 |
-34,920,081,023 |
|
Cash Inflow from
Investing |
60,824,177,540 |
10,119,438,491 |
15,629,816,821 |
|
Cash Outflows for
Investing |
-5,442,465,903 |
-57,759,512,401 |
-50,549,897,844 |
|
Cash
Flows from Financing |
-42,487,972,017 |
6,785,287,127 |
-128,477,870,938 |
|
Cash Inflows from
Financing |
- |
155,983,287,127 |
- |
|
Cash Outflows from
Financing |
-42,487,972,017 |
-149,198,000,000 |
-128,477,870,938 |
|
Increase/Decrease in Cash |
-26,029,800,028 |
-225,791,034,755 |
-16,407,901,878 |
|
Cash at the Beginning of Year |
94,678,541,896 |
320,469,576,651 |
336,877,478,529 |
|
Cash at the End of Year |
68,648,741,868 |
94,678,541,896 |
320,469,576,651 |
|
Main Products & Services |
The Subject
Company, an integrated engine manufacturer, is a business enterprise
specializing in producing diesel engine for large vessels, called the heart
of the sea and power generation. Diesel Engine for
Large Vessels Marine Diesel
Engine Diesel Power
Plant |
||||||||
|
Annual Production Capacity (Unit: Thousand H/P) |
|
|
Suppliers |
DOOSAN MARINE INDUSTRY (DALIAN) CO., LTD. |
|
Customers |
SAMSUNG HEAVY INDUSTRIES
CO.,LTD(110111-0168595) HANJIN HEAVY INDUSTRIES & CONSTRUCTION
CO.,LTD (180111-0602507) DAEWOO SHIPBUILDING & MARINE
ENGINEERING CO., LTD. (110111-2095837) DALIAN SHIPBUILDING INDUSTRY CO., LTD. SINOPACIFIC |
|
Competitors |
HYUNDAI HEAVY INDUSTRIES
CO.,LTD(181211-0000386) STX ENGINE CO,.LTD(194211-0066763) |
|
Affiliates-Domestic |
DOOSAN CORPORATION(110111-0013774) DOOSAN HEAVY INDUSTRIES & CONSTRUCTION
CO.,LTD(194211-0000943) DOOSAN INFRACORE CO., LTD.(120111-0234469) (6.03% held by the subject company) DOOSAN ENGINE CO., LTD(194211-0038423) DOOSAN MECATEC CO., LTD.(110111-0126022) N.SHAPER CO., LTD .(110111-1943574) ORICOM INC(110111-0176986) DOOSAN DONG-A CO., LTD.(110111-3977117) DOOSAN CO., LTD.(110111-0013774) SRS KOREA CO., LTD.(110111-3139733) DOOSAN FEED & LIVESTOCK CO.,
LTD.(110111-3809138) DOOSAN WINE SALES CO., LTD.(110111-3942582) SAMHWA CROWN & CLOSURE CO.,
LTD.(134111-0003462) DOOSAN MOTTROL CO., LTD.(194211-0000274) DOOSAN CONSTRUCTION & ENGINEERING CO.,
LTD.(110111-0194277) NEO TRANS CO., LTD.(131111-0141801) DOOSAN TOWER CO., LTD.(110111-1722499) DOOSAN MOTORS CORP.(110111-3008293) DONG HYUN ENGINEERING CO.,
LTD.(110111-0508329) NEOPLUX CO., LTD.(110111-1927841) DOOSAN CAPITAL CO., LTD.(110111-1220336)
19.99% BIG & GOOD SECURITIES BROKERAGE.CO.,
LTD.(110111-1965560) REXCON CO., LTD.(110111-3586273) DOOSAN CUVEX CO., LTD(140111-00325709) DOOSAN BEARS INC(110111-0346919) DOOSAN MOTTROL HOLDINGS CO.,
LTD.(110111-3892505) DIP HOLDINGS CO., LTD.(110111-4103076) CASCO CO., LTD.(210111-0047938) (16.21% held by the subject company) |
|
Affiliates-Overseas |
DOOSAN MARINE INDUSTRY (DALIAN) CO., LTD. DAGUSHAN NANGANG INDUSTRY PARK, DEVELOPMENT
ZONE, DALIAN, P.R. CHINA TEL :+86 411 8751 7957 FAX :+86 411 8751
7956 DALIAN SAMYOUNG DOOSAN METAL PRODUCT CO., LTD. (20.66% held by the subject company) DOOSAN HOLDINGS EUROPE LTD. (21.73% held by the subject company) DOOSAN INFRACORE INTERNATIONAL, INC. (20.93% held by the subject company) |
|
Overseas Office |
EUROPE BRANCH HEIDENKAMPSWEG, 100, 8. OG 20097 HAMBURG,
GERMANY TEL:+49-40-2533-5656 FAX:+49-40-2533-5661 SINGAPORE BRANCH 78, SHENTON WAY, #16-04, SINGAPORE 079120 TEL:+65-6222-5515 FAX:+65-6222-5525 SHANGHAI BRANCH 828, HUA DU MANSION 14F 1200M E, ZHANG YANG
ROAD, PUDONG, SHANGHAI, CHINA TEL: 22-6875-0876 FAX: 22-6875-0864 DALIAN HANJUNG-DMD INDUSTRY CO., LTD.
(CHINA) |
|
Subsidiary |
DOOSAN MARINE INDUSTRY (DALIAN) CO., LTD. (100.0% held by the
subject company) |
|
Cooperative Enterprise |
-Technical Support from MAN DIESEL A/S WARTSILA MAN DIESEL SE SEMT PIELSTICK MITSUBISHI HEAVY INDUSTRIES ABB TURBO SYSTEM MAN DIESEL & TURBO FRANCE SAS DAIHATSU DIESEL MFG. -Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
|
Sales/ Unit : KRW |
2010 |
2009 |
2008 |
|
Export |
1,662,011,000,000 |
1,662,960,876,756 |
1,668,434,187,027 |
|
Domestic |
68,057,000,000 |
109,636,230,729 |
66,402,391,826 |
|
Total |
1,730,068,000,000 |
1,772,597,107,485 |
1,734,836,578,853 |
The Subject exports to China and Europe.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
Ulsan District Court |
Ulsan District Prosecutors’ Office |
The Subject Company |
- |
300,000,000 |
Proceeding |
|
|
Court in Greece |
GAEI(GUAM ADVANCE ENTERPRISES, INC.) |
The Subject Company |
Related to Chios Diesel Power Plant |
Euro3,059,635 |
1strouns
is proceeding |
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.63.37 |
|
UK Pound |
1 |
Rs.100.85 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.