|
Report Date : |
05.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAIWAN PROSPERITY CHEMICAL CORPORATION |
|
|
|
|
Registered Office : |
9Fl., No.113, Sec. 2, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.05.1991 |
|
|
|
|
Com. Reg. No.: |
86120031 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in manufacturing and sale of
chemicals Subject product ranges includes : · Cumene Acetone Bisphenol Cyclohexanone Marin
Anhydride |
|
|
|
|
No. of Employees : |
170 |
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 : |
Slow but correct |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. Taiwan's
diplomatic isolation, low birth rate, and rapidly aging population are other
major long-term challenges. Free trade agreements have proliferated in East
Asia over the past several years, and following the landmark Economic
Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan
in July 2013 signed a free trade deal with New Zealand—Taipei’s first-ever with
a country with which it does not maintain diplomatic relations—and in November
inked a trade pact with Singapore. Negotiations continue on follow-on
components of ECFA regarding trade in goods and a dispute resolution mechanism;
a trade in services agreement is under review in the legislature. 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 overall trade surplus largely because of
its surplus with China, and its foreign reserves are the world's sixth largest,
behind China, Japan, Saudi Arabia, Russia, and Switzerland. 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. Taiwan since 2009 has gradually loosened rules governing Chinese investment
on the island, and has also secured greater market access for its investors in
the mainland. 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: |
9Fl., No.113,
Sec. 2, Chung-Shan N. Rd., Taipei 104, Taiwan, R.O.C. |
|
Supplied Address: |
Floor No 9 No
113 Chung Shan North Road Sec 2 Taipei Taiwan ROC |
|
Telephone Number: |
+886-2-2563-3228 |
|
Fax Number: |
Notes: The exact address is as above.
|
Registered Name: |
Taiwan Prosperity Chemical Corporation |
|
Registered Address: |
9Fl., No.113, Sec. 2, Chung-Shan N. Rd., Taipei
104, Taiwan, R.O.C. |
|
Date of Foundation: |
1991-5-28 |
|
Registration Number: |
86120031 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD
4,000,000,000 (USD 136,000,000) (As of 2014.03, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 2,919,750,000
(USD 99,271,500) |
|
Legal Representatives: |
Chengyun Gu |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1991-5-28 with registered number 86120031
as Joint Stock Company in
Taiwan.
Subject was listed on Taiwan Stock Exchange on 2007-10-2.
|
Name |
Subscription Shares |
|
Taiwan Cement Corporation |
145,987,998 |
|
Renhe Jiao |
|
|
9,000 |
|
The information above is that of subject’s major shareholders.
Shareholder Information:
|
Registered Name: |
Taiwan Cement Corp. |
|
Registered Address: |
No.113, Sec.2, Chung Shan N. Rd., Taipei City, Taiwan, R.O.C. |
|
Telephone Number: |
+886-2-2531-6533 |
|
Fax Number: |
+886-2-2531-6529 |
|
Date of Foundation: |
1950-12-29 |
|
Registration Number: |
11913502 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 40,073,866,000 (USD 1,362,511,444) (As of 2014.03, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 36,921,758,690 (USD 1,255,339,795.46) |
|
Legal Representatives: |
Chengyun Gu |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 1101 |
|
Date of Last Annual Return: |
2013-7-8 |
Parent Company
|
Registered Name: |
Taiwan Cement Corp. |
|
Registered Address: |
No.113, Sec.2, Chung Shan N. Rd., Taipei City, Taiwan, R.O.C. |
|
Telephone Number: |
+886-2-2531-6533 |
|
Fax Number: |
+886-2-2531-6529 |
|
Date of Foundation: |
1950-12-29 |
|
Registration Number: |
11913502 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 40,073,866,000 (USD 1,362,511,444) (As of 2014.03, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 36,921,758,690
(USD 1,255,339,795.46) |
|
Legal Representatives: |
Chengyun Gu |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 1101 |
|
Date of Last Annual Return: |
2013-3-7 |
Factory
|
Name: |
Linyuan Plant |
|
Address: |
Linyuan Industrial Zone, Linyuan Township, Kaohsiung County, Taiwan |
|
Date of Foundation: |
1992-8-25 |
|
Date of Registration: |
1995-10-16 |
|
Factory Registration Number: |
99661829 |
|
Factory Manager: |
Qingyuan Lai |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-8-19 |
|
Major Products: |
182 Petrochemical materials |
|
Principal Activity |
Subject has 6 plants on the address above for manufacturing of cumene,
acetone, bisphenol, cyclohexanone, and marin anhydride |
Core Management
Directors
|
1 |
|
|
Name |
Chengyun Gu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Anping Zhang |
|
Position |
Director |
|
3 |
|
|
Name |
Boyuan Wang |
|
Position |
Director |
|
4 |
|
|
Name |
Fulong Chen |
|
Position |
Director |
|
5 |
|
|
Name |
Renhe Jiao |
|
Position |
Independent Director |
|
6 |
|
|
Name |
Zhiren Sheng |
|
Position |
Independent Director |
|
7 |
|
|
Name |
Zinan Jia |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Tianfu Zhao |
|
Position |
Manager |
|
Dare of Appointment |
2012-4-2 |
Personnel
Structure
|
Total Employees |
About 170 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
9Fl., No.113, Sec. 2, Chung-Shan N. Rd., Taipei 104, Taiwan, R.O.C. |
Production
Information
·
Subject is a manufacturer of chemicals
·
Subject has six plants (total area is about 13 hectare)
in Linyuan Township, Kaohsiung County, Taiwan for production.
·
Subject’s factory obtained the certifications of ISO 9002 and ISO 14001.
Purchase
Information
The registered
activities of subject:
|
Business Code |
Details |
|
C801020 |
Manufacture of petrochemical materials |
|
F107200 |
Wholesales of chemical materials |
|
F107990 |
Wholesales of other chemical products |
|
F207200 |
Retails of chemical materials |
|
F207990 |
Retails of other chemical products |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The raw materials for production are purchased from both home and
abroad.
·
The subject is mainly engaged in sale of chemicals
·
Subject’s sales regions include Taiwan, Mainland
China, Japan, South Korea, Australia, USA, and other Asian countries.
·
It is introduced that subject has a proportion of
50% for export.
·
Subject’s products are applied to manufacturing of
fibers, engineering plastics, industrial solvents, and auto-materials
·
Subject’s major customers are China Petroleum &
Chemical, Kaohsiung Monomer Company Ltd, Chimei Asahi Corporation, “ThaiPC”,
and “Sumitomo”
·
Subject’s major competitors in Taiwan are Formosa
Chemicals & Fibre Corporation and Chang Chung Group.
Major products
|
|
Product |
|
1 |
Cumene |
|
2 |
Acetone |
|
3 |
Bisphenol |
|
4 |
Cyclohexanone |
|
5 |
Marin Anhydride |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
COD, Credit
sales |
100% |
Foreign
Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
CBD, Credit
Sales |
100% |
Sales
Domestic
Markets
|
Sales Terms |
Proportion |
|
|
Chemicals |
COD, Credit
sales |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Chemicals |
CBD |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
441,196.00 |
715,789.00 |
|
Financial assets measured at fair value through profit or loss -
current |
816.00 |
2,254,886.00 |
|
Available-for-sale financial assets - current |
634,827.00 |
529,683.00 |
|
Accounts receivable - net |
3,025,001.00 |
1,966,792.00 |
|
Other receivables |
50,482.00 |
59,374.00 |
|
Inventories |
1,226,709.00 |
918,549.00 |
|
Other prepayments |
113,458.00 |
164,967.00 |
|
Other current assets |
46,681.00 |
125,061.00 |
|
Current assets |
5,539,170.00 |
6,735,101.00 |
|
Funds and Investments |
|
|
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
896,825.00 |
896,825.00 |
|
Buildings and structures |
135,703.00 |
133,901.00 |
|
Machinery and equipment |
13,942,409.00 |
13,568,472.00 |
|
Leased assets |
313,387.00 |
287,521.00 |
|
Other facilities |
218,995.00 |
205,178.00 |
|
Fixed assets cost |
15,507,319.00 |
15,091,897.00 |
|
Accumulated depreciation |
-9,603,597.00 |
-8,770,412.00 |
|
Accumulated impairment - fixed assets |
-12,108.00 |
-13,315.00 |
|
Construction in process and prepayment for equipments |
633,157.00 |
707,616.00 |
|
Fixed assets |
6,524,771.00 |
7,015,786.00 |
|
Intangible Assets |
|
|
|
OtherAssets |
|
|
|
Guarantee deposits paid |
62,301.00 |
62,601.00 |
|
Deferred charges |
214,789.00 |
279,308.00 |
|
Deferred income tax assets - non current |
72,311.00 |
27,392.00 |
|
Other assets - other |
55,481.00 |
14,459.00 |
|
Other assets |
404,882.00 |
383,760.00 |
|
Assets |
12,468,823.00 |
14,134,647.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
1,075,980.00 |
935,655.00 |
|
Financial liabilities measured at fair value through profit or loss -
current |
0.00 |
902.00 |
|
Accounts payable |
1,827,972.00 |
797,300.00 |
|
Income tax payable |
0.00 |
232,339.00 |
|
Accrued expenses |
212,909.00 |
284,699.00 |
|
Other payables - related parties |
49,765.00 |
36,636.00 |
|
Other payables |
66,578.00 |
24,110.00 |
|
Long-term liabilities - current portion |
1,903,200.00 |
878,400.00 |
|
Other current liabilities |
39,798.00 |
43,996.00 |
|
Current liabilities |
5,176,202.00 |
3,234,037.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
200,000.00 |
1,903,200.00 |
|
Long-term notes and accounts payable |
72,754.00 |
109,327.00 |
|
Long-term notes and accounts payable - related parties |
39,576.00 |
39,576.00 |
|
Long-term liabilities |
312,330.00 |
2,052,103.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
102,535.00 |
123,418.00 |
|
Guarantee deposits received |
16,283.00 |
16,229.00 |
|
Other liabilities |
118,818.00 |
139,647.00 |
|
Liabilities |
5,607,350.00 |
5,425,787.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
2,919,750.00 |
2,919,750.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
690,000.00 |
690,000.00 |
|
Capital surplus |
690,000.00 |
690,000.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
1,287,784.00 |
1,054,257.00 |
|
Special reserve |
283,054.00 |
0.00 |
|
Unappropriated retained earnings |
1,858,795.00 |
4,327,907.00 |
|
Retained earnings |
3,429,633.00 |
5,382,164.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Unrealized gains (losses) on financial instruments |
-177,910.00 |
-283,054.00 |
|
Equity adjustments |
-177,910.00 |
-283,054.00 |
|
Stockholders - equity |
6,861,473.00 (USD 233,290,082.00) |
8,708,860.00 (USD 296,101,240.00) |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of 2014.03, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012-1-1~2012-12-31 |
2011-1-1~2011-12-31 |
|
Sales |
25,451,425.00 (USD 865,348,450.00) |
27,319,955.00 (USD 928,878,470.00) |
|
Sales returns |
25,751.00 |
37,246.00 |
|
Sales |
25,425,674.00 |
27,282,709.00 |
|
Operating income |
25,425,674.00 |
27,282,709.00 |
|
Cost of sales |
24,928,162.00 |
23,800,740.00 |
|
Operating costs |
24,928,162.00 |
23,800,740.00 |
|
Gross profit (loss) from operations |
497,512.00 |
3,481,969.00 |
|
Selling expense |
493,023.00 |
443,560.00 |
|
General and administrative expenses |
95,441.00 |
155,639.00 |
|
Research and development expenses |
33,111.00 |
57,587.00 |
|
Operating expenses |
621,575.00 |
656,786.00 |
|
Operating income (loss) |
-124,063.00 |
2,825,183.00 |
|
Non-Operating Income |
|
|
|
Interest income |
5,873.00 |
7,937.00 |
|
Dividends |
11,293.00 |
10,844.00 |
|
Investment income |
11,293.00 |
10,844.00 |
|
Foreign exchange gains |
0.00 |
16,646.00 |
|
Revaluation gain on financial assets |
8,636.00 |
19,025.00 |
|
Miscellaneous income |
62,660.00 |
28,765.00 |
|
Non-operating revenues and gains |
88,462.00 |
83,217.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
53,366.00 |
64,655.00 |
|
Revaluation loss on financial liabilities |
0.00 |
902.00 |
|
Miscellaneous disbursements |
31,290.00 |
20,833.00 |
|
Non-operating expenses and losses |
84,656.00 |
86,390.00 |
|
Income from continuing operations before income tax |
-120,257.00 |
2,822,010.00 |
|
Income tax expense (benefit) |
-21,768.00 |
486,736.00 |
|
Income from continuing operations |
-98,489.00 |
2,335,274.00 |
|
Net income (loss) |
-98,489.00 (USD 3,348,626.00) |
2,335,274.00 (USD 79,399,316.00) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
-0.34 |
8.00 |
|
Diluted earnings per share |
|
|
(As of 2014.03, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012-1-1~2012-12-31 |
2011-1-1~2011-12-31 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
-98,489.00 |
2,335,274.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
835,020.00 |
807,820.00 |
|
Amortization Expense |
75,636.00 |
86,150.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
-9.00 |
0.00 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
-8,636.00 |
-18,123.00 |
|
Loss (Gain) on Deferred Income Tax |
-21,696.00 |
-16,830.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
2,261,804.00 |
773,258.00 |
|
Decrease (Increase) in Accounts Receivable |
-1,058,209.00 |
-221,287.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
0.00 |
508,634.00 |
|
Decrease (Increase) in Other Receivables |
8,892.00 |
138,936.00 |
|
Decrease (Increase) in Inventories |
-308,160.00 |
157,228.00 |
|
Decrease (Increase) in Prepaid Expenses |
51,509.00 |
13,042.00 |
|
Decrease (Increase) in Other Current Assets |
55,157.00 |
-17,799.00 |
|
Increase (Decrease) in Accounts Payable |
1,030,672.00 |
-653,841.00 |
|
Increase (Decrease) in Income Tax Payable |
-232,339.00 |
-295,559.00 |
|
Increase (Decrease) in Accrued Expenses |
-71,790.00 |
-66,058.00 |
|
Increase (Decrease) in Other Payable - Related Parties |
13,129.00 |
651.00 |
|
Increase (Decrease) in Other Current Liabilities |
-6,853.00 |
-5,723.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
-20,883.00 |
-8,177.00 |
|
Net Cash Provided by (Used in) Operating Activities |
2,504,755.00 |
3,517,596.00 |
|
Cash Flows from Investing Activities |
|
|
|
Purchase of Property, Plant and Equipment |
-301,537.00 |
-486,419.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
9.00 |
0.00 |
|
Decrease (Increase) in Refundable Deposits |
300.00 |
1,513.00 |
|
Increase in Deferred Charges |
-11,117.00 |
-55,402.00 |
|
Decrease (Increase) in Other Assets |
-41,022.00 |
-1,164.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-353,367.00 |
-541,472.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
140,325.00 |
-162,305.00 |
|
Repayment of Long-term Debt |
-678,400.00 |
-878,400.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
54.00 |
5,739.00 |
|
Increase (Decrease) in Lease Payable |
-33,918.00 |
-31,658.00 |
|
Cash Dividends Paid |
-1,854,042.00 |
-2,426,312.00 |
|
Other Financing Activities |
0.00 |
39,576.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-2,425,981.00 |
-3,453,360.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-274,593.00 |
-477,236.00 |
|
Cash and Cash Equivalents, Beginning of year |
715,789.00 |
1,193,025.00 |
|
Cash and Cash Equivalents, End of year |
441,196.00 |
715,789.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
52,533.00 |
66,754.00 |
|
Interest Paid- Excluding Capitalized Interest |
52,533.00 |
66,754.00 |
|
Income Tax Paid |
238,552.00 |
799,125.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
1,903,200.00 |
878,400.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
344,005.00 |
475,470.00 |
|
Increase (Decrease) in Payable for Equipment Purchased |
-42,468.00 |
10,949.00 |
|
Cash Paid for Acquisition of Property, Plant and Equipment |
301,537.00 |
486,419.00 |
Subject did not introduce its bank details;
from other source we can not obtain the relevant information, either.
Mortgage
|
Case Type: |
Certificate No.: |
Debtor Name: |
Document Number: |
Date of
Registration: |
Date of
Alteration: |
Status: |
|
Chattel Mortgage |
047055 |
Taiwan Prosperity Chemical Corporation |
240965 |
1995/2/9 |
|
Paid off |
|
Chattel Mortgage |
048831 |
Taiwan Prosperity Chemical Corporation |
247061 |
1995/8/29 |
|
Paid off |
|
Chattel Mortgage |
097287 |
Taiwan Prosperity Chemical Corporation |
09830436040 |
2009/5/4 |
|
|
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
|
Name |
Ms. Wu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.02 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.