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Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
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Name : |
SHE HONG INDUSTRIAL CO., LTD. |
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Registered Office : |
No.6, Road 6,
Industrial Area, |
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Country : |
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Date of Incorporation : |
23.12.1970 |
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Com. Reg. No.: |
51321357 |
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Legal Form : |
Joint Stock
Company |
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Line of Business : |
Manufacturing and
sales of CNC machine tools |
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No. of Employees |
500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
+886-4 2359-2747 |
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Fax Number: |
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E-mail: |
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Website: |
Notes: The exact
name and address are as above.
Subject was incorporated on 1970-12-23 with registered number 51321357 as Joint Stock Company in Taiwan.
Factories
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1 |
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Address: |
No.6, Road 6, Industrial Area, Taichung Taiwan R.O.C. |
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Date of Foundation: |
1981-7-15 |
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Date of Registration: |
1985-9-9 |
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Factory Registration Number: |
99669169 |
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Factory Manager: |
Guanling Chen |
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Status: |
In Production |
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Date of Last Annual
Return: |
2012-3-27 |
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Major Products: |
291 metal processing machinery |
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2 |
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Name: |
The 3rd Factory |
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Address: |
No. Jingke North
Road, Wenshan Li, Nantun District, Taichung City, Taiwan, R.O.C. |
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Date of Registration: |
2010-4-8 |
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Factory Registration Number: |
99720656 |
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Factory Manager: |
Guanling Chen |
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Status: |
In Production |
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Date of Last
Annual Return: |
2012-3-27 |
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Major Products: |
291 metal
processing machinery 292 other special
machinery |
Note: It is
introduced that subject also has a factory in Thailand, but the detail
information we cannot obtain from any sources.
Related Company
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Name: |
Hartford Motors Co., Ltd. |
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Address: |
No.3, Jingke North Road, Taichung, Taiwan |
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Telephone Number: |
+886-4-2359-9218 |
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Fax Number: |
+886-4-2359-3673 |
Major Shareholders
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Name |
Subscription Shares |
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Guanling Chen |
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73,905 |
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Dong You |
109,334 |
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Pinwei Chen |
73,905 |
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Jianzhi Chen |
75,000 |
Core Management
Directors
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1 |
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Name |
Guanling Chen |
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Position |
Board Chairman |
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2 |
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Name |
Dong You |
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Position |
Director |
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3 |
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Name |
Pinwei Chen |
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Position |
Director |
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4 |
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Name |
Jianzhi Chen |
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Position |
Supervisor |
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Personnel Structure
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Total Employees |
About 500 Employees |
Offices & Factories
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Headquarters |
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Add |
Production Information
Subject is engaged in manufacturing of machinery, etc.
Subject has two factories in Taichung, Taiwan (about 70,000 square meters) and one factory in Thailand for production.
Subject’s annual production capacity of CNC machine is about 2,400 units.
Subject obtained the certification of ISO 9002.
Purchase Information
The registered activities of subject:
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Business Code |
Details |
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-- |
Manufacturing, processing, and sales of automobile, motor, and machine element |
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-- |
Manufacturing, processing, and sales of ironmongery |
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-- |
Manufacturing, processing, and sales of all kinds of machinery and hardware tool |
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ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The components and raw materials for production are purchased from both home and abroad such as Taiwan domestic market, Japan and Germany, etc.
Subject has 80 processing equipments for production.
Subject is engaged in sales of CNC machine tools, etc.
The major products sold by subject include Vertical Machining Center, Double Column Machining Center, Multi-Surface Double Column Machining Center, Horizontal Machining Center, Precision Boring & Milling Machine, Special Purpose Machining Center and 5 Axis Machining Center, etc.
Subject’s sales regions include Asia, Europe, America, and Australia, etc.
The products sold by subject are applied to manufacturing of airplane, automobile, and electronic products, etc.
Subject’s major customers include “Pratt Whitney”, “General Electric”, “I.A.I”, “Boeing”, “BMW”, “Toyota Honda”, and “Samsung”, etc.
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Purchase
Domestic Purchase
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Products |
Components, etc |
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Payment Terms |
Cash, T/T, etc |
Import
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Products |
Components and
equipments, etc |
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Payment Terms |
L/C, T/T, etc |
Sales
Domestic Markets
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Product |
Machines, etc |
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Selling Terms |
Cash, T/T, etc |
Export
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Product |
Machines, etc |
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Selling Terms |
L/C, T/T, etc |
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 Mr. Wang declined to disclose its financials citing the grounds of
company’s confidentiality; from other sources we could not obtain such
information, either.
From other source, we learn that the average annual turnover is over NTD 250,000,000.
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
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1 |
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Trial Number: |
2012,
Zhonglaojian,54 |
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Date of Trial: |
2012-12-26 |
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Reason: |
Severance pay |
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Claimant: |
Yuhui Chen |
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Defendant: |
She Hong Industrial
Co., Ltd. |
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2 |
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Trial Number: |
2012, Zhongbu,1225 |
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Date of Trial: |
2012-7-16 |
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Reason: |
Severance pay |
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Claimant: |
Yuhui Chen |
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Defendant: |
She Hong
Industrial Co., Ltd. |
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3 |
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Trial Number: |
2008,Zhonglaojian,17 |
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Date of Trial: |
2008-7-23 |
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Reason: |
Make sure the
employment relationship exists |
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Claimant: |
She Hong
Industrial Co., Ltd. |
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Defendant: |
Not Stated |
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4 |
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Trial Number: |
2008,Zhonglaojian,17 |
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Date of Trial: |
2008-7-1 |
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Reason: |
Make sure the
employment relationship exists |
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Claimant: |
Not Stated |
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Defendant: |
She Hong
Industrial Co., Ltd. |
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5 |
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Trial Number: |
2008,Zhongbu,170 |
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Date of Trial: |
2008-1-23 |
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Reason: |
Make sure the
employment relationship exists |
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Claimant: |
Not Stated |
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Defendant: |
She Hong
Industrial Co., Ltd. |
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6 |
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Trial Number: |
2006,Zhongbu,979 |
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Date of Trial: |
2006-8-15 |
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Reason: |
Severance pay |
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Claimant: |
Not Stated |
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Defendant: |
She Hong
Industrial Co., Ltd. |
Interview Details
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Name |
Mr. Wang |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.61.06 |
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|
1 |
Rs.101.84 |
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Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.