MIRA
INFORM REPORT
|
Report Date : |
03.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
NORTH CHINA PHARMACEUTICAL CO., LTD. |
|
|
|
|
Registered Office : |
No. 388, Heping East Road, Shijiazhuang,
Hebei Province, 050015 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
25.08.1992 |
|
|
|
|
Com. Reg. No.: |
130000000008365 |
|
|
|
|
Legal Form : |
Shares Limited Company |
|
|
|
|
Line of Business : |
manufacturing and selling of all kinds of pharmaceutical products including
antibiotic bulks and formulations, vitamins and nutrition products, biotech products,
immunosuppressant, and pesticide to veterinary drugs |
|
|
|
|
No. of Employees : |
15,820 (Including
Subsidiaries) |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
china ECONOMIC OVERVIEW
Since the late 1970s China has moved
from a closed, centrally planned system to a more market-oriented one that
plays a major global role - in 2010 China became the world's largest exporter.
Reforms began with the phasing out of collectivized agriculture, and expanded
to include the gradual liberalization of prices, fiscal decentralization,
increased autonomy for state enterprises, creation of a diversified banking
system, development of stock markets, rapid growth of the private sector, and
opening to foreign trade and investment. China has implemented reforms in a
gradualist fashion. In recent years, China has renewed its support for
state-owned enterprises in sectors it considers important to "economic
security," explicitly looking to foster globally competitive national champions.
After keeping its currency tightly linked to the US dollar for years, in July
2005 China revalued its currency by 2.1% against the US dollar and moved to an
exchange rate system that references a basket of currencies. From mid 2005 to
late 2008 cumulative appreciation of the renminbi against the US dollar was
more than 20%, but the exchange rate remained virtually pegged to the dollar
from the onset of the global financial crisis until June 2010, when Beijing
allowed resumption of a gradual appreciation. The restructuring of the economy
and resulting efficiency gains have contributed to a more than tenfold increase
in GDP since 1978. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, China in 2012 stood as the second-largest economy
in the world after the US, having surpassed Japan in 2001. The dollar values of
China's agricultural and industrial output each exceed those of the US; China
is second to the US in the value of services it produces. Still, per capita
income is below the world average. The Chinese government faces numerous
economic challenges, including: (a) reducing its high domestic savings rate and
correspondingly low domestic demand; (b) sustaining adequate job growth for
tens of millions of migrants and new entrants to the work force; (c) reducing
corruption and other economic crimes; and (d) containing environmental damage
and social strife related to the economy's rapid transformation. Economic
development has progressed further in coastal provinces than in the interior,
and by 2011 more than 250 million migrant workers and their dependents had
relocated to urban areas to find work. One consequence of population control
policy is that China is now one of the most rapidly aging countries in the
world. Deterioration in the environment - notably air pollution, soil erosion,
and the steady fall of the water table, especially in the North - is another
long-term problem. China continues to lose arable land because of erosion and
economic development. The Chinese government is seeking to add energy
production capacity from sources other than coal and oil, focusing on nuclear
and alternative energy development. In 2010-11, China faced high inflation
resulting largely from its credit-fueled stimulus program. Some tightening
measures appear to have controlled inflation, but GDP growth consequently
slowed to under 8% for 2012. An economic slowdown in Europe contributed to
China's, and is expected to further drag Chinese growth in 2013. Debt overhang
from the stimulus program, particularly among local governments, and a property
price bubble challenge policy makers currently. The government's 12th Five-Year
Plan, adopted in March 2011, emphasizes continued economic reforms and the need
to increase domestic consumption in order to make the economy less dependent on
exports in the future. However, China has made only marginal progress toward
these rebalancing goals.
|
Source : CIA |
Company name & address
north china pharmaceutical co., ltd.
no. 388, heping east
road, shijiazhuang, hebei PROVINCE, 050015 PR CHINA
TEL: 86 (0)
311-85993999/85992039 FAX: 86 (0)
311-86060942
EXECUTIVE SUMMARY
INCORPORATION DATE : AUG. 25, 1992
REGISTRATION NO. : 130000000008365
REGISTERED LEGAL
FORM : Shares limited company
CHIEF EXECUTIVE : MR. wang sheping (CHAIRMAN)
STAFF
STRENGTH : 15,820
(including subsidiaries)
REGISTERED CAPITAL :
CNY 1,378,577,558
BUSINESS LINE :
manufacturing & selling
TURNOVER : CNY 6,555,082,000
(Consolidated, JAN. 1 TO JUN. 30, 2013)
EQUITIES :
CNY 4,137,992,000 (Consolidated, AS OF JUN. 30, 2013)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : steady
GENERAL REPUTATION : WELL-KNOWN
EXCHANGE RATE :
CNY 6.12 = USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
Note: SC’s headquarters address is the heading one, while its sales office is located in the (No. 392 East Heping Road, Shijiazhuang, Hebei).
SC was registered as a shares limited company at Hebei
Provincial Administration for Industry & Commerce (AIC - The official body
of issuing and renewing business license).
Company Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent
property of legal person and enjoys property rights of legal person. The characteristics of the shares limited co. are as
follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be domiciled
in China. Natural person are allowed to
serve as promoters. The minimum registered capital
of a co. is CNY 5M. while that of the co. with foreign investment is CNY
5M. The total capital of a co. which propose to apply for publicly listed
must be no less than CNY 30M. The board of directors must
consist of five to nineteen directors. If the co. raises capital by public
offer, the promoters must not subscribe less than 35% of the total shares.
the promoters’ shares are restricted to transfer- within one year of the
offer. A
state-owned enterprise that is restructured into a shares limited co. must
comply with the conditions & requirements specified under the law &
administrative rule.
SC’s registered
business scope includes manufacturing injection , tablets , granules, bulk
drugs, sterile bulk drugs , hard capsules, soft capsules , eye drops , oral
solution , small volume injection , psychotropic drugs , gels, lyophilized
powder injection , a large volume injection; processing 6% kasugamycin WP , 47%
kasugamycin Wang WP copper , 2% kasugamycin agent, 40% carbendazim .
pyrimethanil WP , 72% of agricultural streptomycin sulfate soluble powder;
manufacturing and selling pharmaceutical intermediates, plant extracts , food
additives ( tomato lycopene , β- carotene ); cargo warehousing , transportation;
importing and exporting commodities and technology, excluding the items
prohibited or limited by the country; pharmaceutical and chemical technology
transfer, technology development, technical consulting services; machinery and
equipment cleaning , electromechanical installation , calibration maintenance;
wholesaling and retailing food, packaging materials, cosmetics, office
supplies, labor supplies, daily merchandise, clothing , building materials,
communications equipment , electronic products, plastic rubber products,
automotive accessories, office furniture, lubricants , hardware,
instrumentation, pharmaceutical glass products, chemical reagents, mechanical
equipment, electrical machinery and spare parts; selling health supplies;
domestic labor dispatch; the operation of following items are limited to
branches: manufacturing pharmaceutical Excipients ( recombinant human serum
albumin ) , suppositories , tinctures , powders, hollow capsules , mixture,
pills , oral liquid, solution; selling veterinary; wholesaling proprietary
Chinese medicines and chemical preparations , antibiotics, bulk drugs and their
preparations , biochemical drugs, biological products , the second category of
psychotropic drugs; retailing planning supplies (excluding medicines, medical
devices to be approved) , health care products, pharmaceutical intermediates,
plant extracts; manufacturing medicinal bottles, household glass products,
industrial oxygen; wholesaling and retailing pre-packaged food, chemical
products , steel and its products, aluminum and its products, paper,
non-ferrous metals, coke; R&D of Chinese medicine, Chinese & Western
medicine, bio-technology products, pesticide and veterinary drug and integrated
technologies.
SC is mainly
engaged in manufacturing and selling all kinds of pharmaceutical products.
Mr.
Wang Sheping has been legal representative and chairman of SC since 2009.
SC is
known to have approx. 15,820 employees
(including subsidiaries) at present, including 11,374 production staff, 784 marketing
staff, 2,508 technical staff, 271 financial staff, 187 administrative staff and
696 R&D staff.
SC is currently operating at the above stated address, and this address houses its operating office and factory in the industrial zone of Shijiazhuang. Detailed premise information is not available at present.
http://www.ncpc.com.cn It belongs
to North China Pharmaceutical Group Corp., including the information about SC. The
design is professional and the content is well organized. At present it is in
both Chinese and English versions.
E-mail: yanghaijing@ncpc.com
SC was listed in Shanghai Stock Exchange Market in 1994 with the stock
code 600812.
Changes of its
registered information are as follows:
|
Date
of change |
Item |
Before
the change |
After
the change |
|
2004 |
Registered capital |
CNY
1,169,394,189 |
CNY 761,909,302 |
|
2006 |
Registered capital |
CNY 761,909,302 |
CNY 1,028,577,558 |
|
2012-10 |
Registered capital |
CNY 1,028,577,558 |
Present amount |
|
Unknown |
Registration No. |
1300001000509 |
Present one |
Tax Registration Certificate No.: 130102104397700
Organization Code: 10439770-0
See below for SC as executive party (defendant).
|
Executed Party |
North China Pharmaceutical Co., Ltd. |
|
Court |
Shijiazhuang Intermediate People's Court |
|
Date
of Case |
April 16, 2013 |
|
Case Number |
(2013) 00114 |
|
Claim
Amount |
RMB 15,723,109 |
|
Case
Status |
In process |
|
Executed Party |
North China Pharmaceutical Co., Ltd. |
|
Court |
Shijiazhuang Chang’an District People's Court |
|
Date
of Case |
June 1, 2012 |
|
Case Number |
(2012) 00589 |
|
Claim
Amount |
RMB 14,900 |
|
Case
Status |
Completed |
|
Executed Party |
North China Pharmaceutical Co., Ltd. |
|
Court |
Shijiazhuang Chang’an District People's Court |
|
Date
of Case |
March 22, 2012 |
|
Case Number |
(2012) 00266 |
|
Claim
Amount |
RMB 1 |
|
Case
Status |
Completed |
|
Executed Party |
North China Pharmaceutical Co., Ltd. |
|
Court |
Shijiazhuang Development Zone People's Court |
|
Date
of Case |
May 6, 2010 |
|
Case Number |
(2010) 00088 |
|
Claim
Amount |
RMB 2,470 |
|
Case
Status |
Completed |
|
Executed Party |
North China Pharmaceutical Co., Ltd. |
|
Court |
Shijiazhuang Development Zone People's Court |
|
Date
of Case |
May 6, 2010 |
|
Case Number |
(2010) 00089 |
|
Claim
Amount |
RMB 1,327 |
|
Case
Status |
Completed |
Remark: Due to the lack of information, we are unable to provide the cause of
action, judgment or other information.
MAIN SHAREHOLDERS: (As
of Jun. 30, 2013)
Name
%
of Shareholding
Jizhong Energy Group Co., Ltd. 25.39
North China Pharmaceutical Group Corporation 20.8
Industrial and Commercial Bank of China-
Nuo’an Stock Securities Investment Fund 2.9
Zhang Renyu 1.68
Bank of Communications –
Bo Emerging Growth Stock Securities Investment Fund 0.73
Huatai Securities Co., Ltd.
Agreed To Repurchase Securities Trading Style Special Securities Account 0.64
Guosen Securities Co., Ltd.
Agreed To Repurchase Securities Trading Style Special Securities Account 0.42
Minsheng Life Insurance Company Limited - Traditional Insurance Products 0.31
Orient Securities Co., Ltd. 0.3
Beijing Xingyeyuan Property Management Co., Ltd. 0.25
Other shareholders 46.58
Jizhong Energy Group Co., Ltd.
======================
Registration no.: 130500000015141
Registered capital: CNY 6,816,722,800
Legal representative: Wang Sheping
North China Pharmaceutical Group Corporation
==================================
North China Pharmaceutical Group Corp. (NCPC) is a leading
pharmaceutical manufacturer in China. NCPC’s main business covers: over 590 varieties,
ranging from antibiotic bulks and formulations, vitamins and nutrition
products, biotech products, immunosuppressant, and pesticide to veterinary
drugs. Being one of the world leading
antibiotic producers both in technology and production with 50 years
development, pharmaceutical industry in key economic indexes, ranking one of
the Top500 Enterprises and the best profit-makers in China
Registration no.: 130000000008902
Registered capital: CNY 1,345,646,500
Legal representative: Wang Sheping
Address:
No. 388, Heping East Road, Shijiazhuang, Hebei Province
Tel: +86- 311-85993999
Fax: +86- 311-86672430
Website: http://www.ncpc.com.cn
Legal
representative and chairman:
Mr. Wang Sheping, senior engineer, born in 1956, with Master’s Degree.
He is currently responsible for the overall management of SC.
Working Experience(s):
From 2009 to present Working in SC as chairman and legal representative;
Also working in Jizhong Energy Group Co., Ltd., North China Pharmaceutical Group Corporation, Jizhong Energy Resources Co., Ltd., etc. as legal representative and chairman.
Vice Chairman and
General Manager:
Mr. Liu Wenfu (), senior engineer, born in 1962 with Master’s Degree. He is currently responsible for the daily management of SC.
Working
Experience(s):
Before 2009 Worked in North China Pharmaceutical Company Beta Pharmaceutical Co., Ltd., North China Pharmaceutical Group Semisyntech Co., Ltd., North China Pharmaceutical Group Corporation
From 2009 to present Working in SC as vice chairman and general manager.
Vice Chairman:
Mr. Yang Haijing, senior accountant, born in 1971, with Master’s Degree. He is currently responsible for the overall management of SC.
Working
Experience(s):
At present Working in SC as vice chairman.
Independent
Directors:
Chen Jincheng
Yang Shengli
Wang Jinting
Shi Shaoxia
Guo Shichang
Directors:
Liu Guitong
Wei Ling
Wei Qingjie
Etc.
Supervisors:
Zhuang Mingfeng
Yao Yunpeng
Xie Yanrui
Etc.
SC is mainly
engaged in manufacturing and selling all kinds of pharmaceutical products.
SC’s products mainly
include: antibiotic bulks and formulations, vitamins and nutrition products,
biotech products, immunosuppressant, and pesticide to veterinary drugs.
SC sources its
materials 70% from domestic market, mainly in Hebei, and 30% from overseas
market. SC sells 85% of its products in domestic market, and 15% to overseas
market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
*Major Suppliers:
==============
North China Pharmaceutical Group Corporation
North China Pharmaceutical Group
Environment Protection Research Institute
North China Pharmaceutical Group
Hualuan Co., Ltd.
Etc.
*Major Customers:
==============
China National Pharmaceutical Industry Corporation
Jiangsu Kangzhijie Pharmaceutical Co., Ltd.
North China Pharmaceutical Group Corporation
Etc.
Jizhong Energy Resources Co., Ltd.
=========================-
It was listed in Shenzhen Stock Exchange in 1999 with the stock code
000937.
Registration No.: 130000000009735
Incorporation Date: 1999-8-26
Chairman: Wang Sheping
Etc.
SC is known to invest
in the following companies:
North China Pharmaceutical Kangxin Co., Ltd.
=================================
Registration No.: 130000400001160
Incorporation Date: 1994-7-1
Chairman: Wang Wentao
Hebei Welcome Pharmaceutical
Co., Ltd.
==============================
Registration No.: 130000400001119
Incorporation Date: 1993-9-24
Chairman: Zhou Xiaobing
Web: http://www.ncpcwelcome.com/
NCPC Victor Co., Ltd.
=====================
Registration No.: 130000400002164
Incorporation Date: 1993-6-9
Chairman: Zhou Xiaobing
Web: http://www.ncpcvictor.com/
North China Pharmaceutical Huasheng Co.,
Ltd.
===================================
Registration No.: 130000400000589
Incorporation Date: 1995-5-4
Chairman: Zhang Tianbing
North China Pharmaceutical Group Semisyntech
Co., Ltd.
==========================================
Registration No.: 130000000023532
Incorporation Date: 1997-4-17
Chairman: Liu Guitong
Etc.
Branches:
North China Pharmaceutical Co., Ltd. Glass Branch
North China Pharmaceutical Co., Ltd. Power Equipment Installation and
Maintenance Branch
North China Pharmaceutical Co., Ltd. Power Instrumentation Branch
North China Pharmaceutical Co., Ltd. Equipment Manufacturing and
Installation Branch
North China Pharmaceutical Co., Ltd. Tianxiang Branch
North China Pharmaceutical Co., Ltd. Materials Supplying Branch
North China Pharmaceutical Co., Ltd. Sales Branch
Etc.
Overall payment appraisal :
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and ability
to pay. It is based on the 3 weighed
factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment and our
debt collection record concerning SC.
Trade payment experience : SC’s suppliers
declined to make any comments.
Delinquent
payment record : None in our database.
Debt collection record : No overdue amount owed by SC was placed to
us for collection within the last 6 years.
SC declined to
release its bank details, so the given bank (Bank of Communications Hebei
Branch) could not be confirmed.
Consolidated Balance Sheet
Unit: CNY’000
|
|
As
of Jun. 30, 2013 |
As
of Dec. 31, 2012 |
|
Cash & bank |
1,206,985 |
1,602,994 |
|
Inventory |
1,585,870 |
1,410,340 |
|
Accounts
receivable |
1,383,834 |
1,263,529 |
|
Notes receivable |
209,946 |
237,970 |
|
Other Accounts
receivable |
530,232 |
553,856 |
|
Advances to
supplies |
185,130 |
178,613 |
|
Non-current
assets due with in one year |
383 |
383 |
|
Other current
assets |
70,763 |
35,806 |
|
|
------------------ |
------------------ |
|
Current assets |
5,173,143 |
5,283,491 |
|
Fixed assets |
4,475,879 |
4,609,929 |
|
Projects under
construction |
3,359,944 |
2,806,664 |
|
Long term
investment |
265,447 |
255,467 |
|
Intangible
assets |
307,658 |
315,372 |
|
Development
expenditure |
245,483 |
195,976 |
|
Long-term
deferred expense |
33,664 |
32,735 |
|
Deferred tax
assets |
37,937 |
37,937 |
|
Goodwill |
3,337 |
3,337 |
|
Other assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
13,902,492 |
13,540,908 |
|
|
============= |
============= |
|
Short loans |
1,155,670 |
1,143,464 |
|
Accounts payable |
1,904,127 |
1,619,235 |
|
Notes payable |
355,619 |
615,458 |
|
Accrued Payroll |
86,890 |
69,240 |
|
Taxes payable |
-71,667 |
-131,359 |
|
Interest payable |
116 |
13,129 |
|
Dividend payable |
69,897 |
19,042 |
|
Advances from
customers |
166,562 |
162,725 |
|
Other Accounts
payable |
651,426 |
715,707 |
|
Non-current
liabilities due within one year |
1,477,347 |
1,423,415 |
|
Other current
liabilities |
96,866 |
40,135 |
|
|
------------------ |
------------------ |
|
Current
liabilities |
5,892,853 |
5,690,191 |
|
Long-term loans |
3,111,532 |
2,824,906 |
|
Bond payable |
460,000 |
460,000 |
|
Specified
payables |
16,304 |
16,629 |
|
Long-term
payables |
265,935 |
350,709 |
|
Other
liabilities |
17,876 |
20,335 |
|
|
------------------ |
------------------ |
|
Total
liabilities |
9,764,500 |
9,362,770 |
|
Equities |
4,137,992 |
4,178,138 |
|
|
------------------ |
------------------ |
|
Total
liabilities & equities |
13,902,492 |
13,540,908 |
|
|
============= |
============= |
Consolidated Income Statement
Unit: CNY’000
|
|
Jan. 1 to Jun.
30, 2013 |
As of Dec. 31,
2012 |
|
Turnover |
6,555,082 |
11,125,706 |
|
Cost of goods sold |
6,002,125 |
10,053,083 |
|
Taxes and additional of main
operation |
14,329 |
29,164 |
|
Sales expense |
264,968 |
516,802 |
|
Management expense |
249,856 |
652,839 |
|
Finance expense |
65,152 |
183,096 |
|
Assets impairment loss |
6,900 |
1,942 |
|
Investment
income |
10,975 |
47,734 |
|
Non-operating
income |
53,516 |
296,670 |
|
Non-operating expense |
1,746 |
8,102 |
|
Profit before
tax |
14,497 |
25,082 |
|
Less: profit tax |
8,502 |
11,021 |
|
Profits |
5,995 |
14,061 |
Important Ratios
=============
|
|
As
of Jun. 30, 2013 |
As
of Dec. 31, 2012 |
|
*Current ratio |
0.88 |
0.93 |
|
*Quick ratio |
0.61 |
0.68 |
|
*Liabilities
to assets |
0.70 |
0.69 |
|
*Net profit
margin (%) |
0.09 |
0.13 |
|
*Return on
total assets (%) |
0.04 |
0.10 |
|
*Inventory
/Turnover ×365 |
/ |
47 days |
|
*Accounts
receivable/Turnover ×365 |
/ |
42 days |
|
*Turnover/Total
assets |
0.47 |
0.82 |
|
* Cost of
goods sold/Turnover |
0.92 |
0.90 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears good in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is fairly high, comparing
with its turnover.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a fair level.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory of SC appears average.
l
The accounts receivable of SC is average.
l
SC’s short-term loan appears average.
l
SC’s turnover is in a fair level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly Stable.
SC is considered large-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
UK Pound |
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
SAD |
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.