|
Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
HONG HO PRECISION TEXTILE CO., LTD. |
|
|
|
|
Registered Office : |
No.473, Zhongshan S. Rd.,
Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
09.06.1978 |
|
|
|
|
Com. Reg. No.: |
73641170 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of textile and garment. |
|
|
|
|
No. of Employees : |
1,000 |
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 |
|
Maximum Credit Limit : |
USD 150,000 |
|
|
|
|
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 – December 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. In
2009, Taiwan's GDP contracted 1.8%, due primarily to a 13.1% year-on-year
decline in exports. In 2010 GDP grew 10.7%, as exports returned to the level of
previous years, and in 2011, grew 4.0%. In 2012, however, growth fell to 1.3%,
because of softening global demand. Taiwan's diplomatic isolation, low birth
rate, and rapidly aging population are major long-term challenges. Free trade
agreements have proliferated in East Asia over the past several years, but
except for the landmark Economic Cooperation Framework Agreement (ECFA) signed
with China in June 2010, so far Taiwan has been excluded from this greater
economic integration in part because of its diplomatic status. Negotiations
continue on such follow-on components of ECFA regarding trade in goods and
services. The MA administration has said that the ECFA will serve as a stepping
stone toward trade pacts with other key trade partners, which Taiwan
subsequently launched with Singapore and New Zealand. 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 trade surplus largely because of its surplus with China,
and its foreign reserves are the world's fifth largest, behind China, Japan,
Saudi Arabia, and Russia. 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. Three financial memorandums of
understanding, covering banking, securities, and insurance, took effect in
mid-January 2010, opening the island to greater investments from the mainland's
financial firms and institutional investors, and providing new opportunities
for Taiwan financial firms to operate in China. 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: |
Hong Ho Precision Textile Co., Ltd. |
|
Supplied Name: |
HONG HO PRECISION TEXTILE CO., LTD. |
|
Trading Address: |
No.473, Zhongshan S. Rd., Yongkang Dist., Tainan
City 710, Taiwan (R.O.C.) |
|
Supplied Address: |
3F,NO.45,LANE 3,JI HU RD., NEI HU DISTRICT,TAIPEI CITY 114,TAIWAN
,R.O.C. |
|
Telephone Number: |
+886-6-233-3133 |
|
Fax Number: |
+886-6-233-2133 |
Notes: The exact name and address are as above and
the supplied address belongs to subject’s Taipei Branch.
|
Credit Rating: |
|
|
Credit Opinion: |
|
|
Risk Analysis: |
Average creditworthiness |
|
Registered Name: |
Hong Ho Precision Textile Co., Ltd. |
|
Registered Address: |
No.473, Zhongshan S. Rd., Yongkang Dist., Tainan City 710, Taiwan
(R.O.C.) |
|
Date of Foundation: |
1978-6-9 |
|
Registration Number: |
73641170 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 3,600,000,000 (USD 122,400,000) (As of 2014.02, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 1,386,215,130 (USD 47,131,314) |
|
Legal Representatives: |
Dagong Huang |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on 1978-6-9
with registered number 73641170 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 1991-10-15.
|
Name |
Subscription Shares |
|
Gao Sheng Investment Co., Ltd. (Literal
Translation) |
5,631,014 |
|
Huanyong Luo |
5,292,078 |
|
Yi Sheng Investment Co., Ltd. (Literal
Translation) |
2,198,140 |
The information
above is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Gao
Sheng Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
5th Floor, No.186, Sec 4, Nanjing East Road,
Songshan District, Taipei City, Taiwan |
|
Date of Foundation: |
1999-7-19 |
|
Registration Number: |
70383058 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 80,000,000 (USD 2,720,000) (As of 2014.02, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 80,000,000 (USD 2,720,000) |
|
Legal Representatives: |
Tongqing Zengzhang |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-5-22 |
|
2 |
|
|
Registered Name: |
Yi
Sheng Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
10th Floor, No.31, Sec 2, Sanmin Road,
Fugui Li, Banqiao District, New Taipei City, Taiwan |
|
Date of Foundation: |
2006-2-27 |
|
Registration Number: |
28000017 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
NTD 26,900,000 (USD 914,600) (As of 2014.02, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 26,900,000 (USD 914,600) |
|
Legal Representatives: |
Miaoqi Chen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-11-27 |
Factory
|
Address: |
A Area, No.473, Zhongshan S. Rd., Yongkang Dist., Tainan City 710,
Taiwan (R.O.C.) |
|
Date of Registration: |
2011-10-11 |
|
Factory Registration Number: |
67000205 |
|
Factory Manager: |
Dagong
Huang |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
2011-10-11 |
|
Major Products: |
112
weaving |
Branch Company
|
Name |
Taipei Branch |
|
Address |
3rd
Floor, No. 45, Sec 3, Jihu Road, Neihu District, Taipei City, Taiwan |
|
Registration
Number |
16088121 |
|
Date of
Registration |
1997-7-29 |
|
Status |
Live
Company |
|
Manager Name |
Tianming He |
|
Date of Last
Annual Return |
2003-8-4 |
Subsidiaries
|
1 |
|
|
Name |
Hong Hwa
Holdings Limited |
|
Principal
Activities |
Investment
business |
|
2 |
|
|
Name |
Hong He
Investment Co., Ltd (Literal Translation) |
|
Principal
Activities |
Investment
business |
|
3 |
|
|
Name |
Hong Yang
Leasing Co., Ltd. (Literal Translation) |
|
Principal
Activities |
Leasing business |
|
4 |
|
|
Name |
United
Intercontinental Ltd. |
|
Address |
Mexico |
|
Principal
Activities |
Manufacturing
and sale of garment, etc |
Core Management
Directors
|
1 |
|
|
Name |
Dagong Huang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Tianming He |
|
Position |
Director/
Manager |
|
Date of
Appointment |
2006-8-1 |
|
3 |
|
|
Name |
Daquan Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Suhua Huang |
|
Position |
Director |
|
5 |
|
|
Name |
Huanyong Luo |
|
Position |
Director |
|
6 |
|
|
Name |
Jiandong Lv |
|
Position |
Supervisor |
|
7 |
|
|
Name |
Miaoqi Chen |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.473, Zhongshan S. Rd., Yongkang Dist., Tainan
City 710, Taiwan (R.O.C.) |
Production
Information
l
Subject is engaged in manufacturing of textile and garment, etc
l
Subject has factories in Tainan City,
Taiwan and Mexico for production.
l
Subject obtained the certification of
ISO 9001:2000.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C301010 |
Spinning industry |
|
C302010 |
Weaving industry |
|
C305010 |
Printing and dyeing industry |
|
C306010 |
Garment industry |
|
E301010 |
Water treatment business |
|
E302010 |
Installation of waste disposal equipment |
|
E303010 |
Air pollution prevention |
|
E303020 |
Noise and vibration prevention |
|
E303030 |
Land pollution prevention |
|
F104010 |
Wholesale of textile |
|
F104020 |
Wholesale of garment |
|
F204010 |
Retail of textile |
|
F204020 |
Retail of garment |
|
F401030 |
Manufacturing output |
|
H701010 |
Development of residence and building |
|
H701020 |
Development and leasing of industrial premises |
|
H701040 |
Development of specific area |
|
H701050 |
Invest in public construction |
|
I401010 |
Advertisement service |
|
ZZ99999 |
Besides licensed business, all other business items
those are not banned or restricted. |
l
The raw materials such as polyester
filament and textured yarn, etc for production are mostly purchased in domestic
market.
l
Subject is engaged in sale of textile,
etc.
l
The major products sold by subject
include long fiber cloth, gray cloth and garment, etc.
l
The textiles sold by subject are
applied to manufacturing of upholstery and leisure wear, etc.
l
Subject’s sales regions include
Mainland China, Japan, South Korea, Vietnam, Sri Lanka, USA and Canada, etc.
l
One of subject’s major customers is
Belmont Fabrics L.L.C.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials |
Cash, T/T, etc |
100% |
Foreign Purchase
Subject has
little import.
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Textile,
etc |
Cash,
T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Textile,
etc |
L/C,
T/T, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
238,223.00 |
549,660.00 |
|
Financial assets measured at fair value through
profit or loss - current |
3,848.00 |
2,031.00 |
|
Notes receivable - net |
829.00 |
1,150.00 |
|
Accounts receivable - net |
27,545.00 |
25,865.00 |
|
Other financial assets - current |
1,007.00 |
5,389.00 |
|
Inventories |
1,510,200.00 |
1,085,522.00 |
|
Other current assets |
31,413.00 |
14,965.00 |
|
Current assets |
1,813,065.00 |
1,684,582.00 |
|
Funds and Investments |
|
|
|
Equity investments under equity method |
443,817.00 |
466,655.00 |
|
Investments |
443,817.00 |
466,655.00 |
|
Funds and long-term investments |
443,817.00 |
466,655.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
387,158.00 |
387,080.00 |
|
Machinery and equipment |
74,161.00 |
74,161.00 |
|
Utilities equipment |
538.00 |
538.00 |
|
Transportation equipment |
7,209.00 |
4,609.00 |
|
Leasehold improvements |
19,827.00 |
19,827.00 |
|
Other facilities |
8,239.00 |
8,050.00 |
|
Revaluation increment |
0.00 |
0.00 |
|
Cost and revaluation increment |
497,132.00 |
494,265.00 |
|
Accumulated depreciation |
-89,172.00 |
-85,016.00 |
|
Accumulated impairment - fixed assets |
-174,000.00 |
-174,000.00 |
|
Fixed assets |
233,960.00 |
235,249.00 |
|
Intangible Assets |
|
|
|
OtherAssets |
|
|
|
Rental assets |
0.00 |
0.00 |
|
Idled assets |
40,019.00 |
130,724.00 |
|
Deferred income tax assets - non current |
144,466.00 |
140,297.00 |
|
Other assets - other |
6,674.00 |
11,076.00 |
|
Other assets |
191,159.00 |
282,097.00 |
|
Assets |
2,682,001.00 |
2,668,583.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Notes payable |
92,331.00 |
61,915.00 |
|
Accounts payable |
72,173.00 |
25,000.00 |
|
Accounts payable - related parties |
5,382.00 |
2,238.00 |
|
Income tax payable |
23,608.00 |
0.00 |
|
Accrued expenses |
16,139.00 |
19,488.00 |
|
Other current liabilities |
2,190.00 |
8,052.00 |
|
Current liabilities |
211,823.00 |
116,693.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
500,000.00 |
500,000.00 |
|
Long-term liabilities |
500,000.00 |
500,000.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Guarantee deposits received |
96.00 |
98.00 |
|
Other liabilities |
96.00 |
98.00 |
|
Liabilities |
711,919.00 |
616,791.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
1,386,215.00 |
1,386,215.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
297,239.00 |
297,239.00 |
|
Capital surplus - other |
393.00 |
393.00 |
|
Capital surplus |
297,632.00 |
297,632.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
60,057.00 |
28,480.00 |
|
Unappropriated retained earnings |
213,662.00 |
315,770.00 |
|
Retained earnings |
273,719.00 |
344,250.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
12,516.00 |
23,695.00 |
|
Equity adjustments |
12,516.00 |
23,695.00 |
|
Stockholdersˉ equity |
1,970,082.00 (USD 66,982,788.00) |
2,051,792.00 (USD 69,760,928.00) |
|
Number of treasury stock acquired by the company
and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of 2014.02, 1 NTD = 0.0340 USD)
|
|
2012 |
2011 |
|
Sales |
346,027.00 (USD 11,764,918.00) |
533,245.00 (USD 18,130,330.00) |
|
Sales returns |
50.00 |
0.00 |
|
Sales discounts and allowances |
234.00 |
366.00 |
|
Sales |
345,743.00 |
532,879.00 |
|
Operating income |
345,743.00 |
532,879.00 |
|
Operating costs |
299,713.00 |
494,091.00 |
|
Gross profit (loss) from operations |
46,030.00 |
38,788.00 |
|
Selling expense |
31,419.00 |
27,192.00 |
|
General and administrative expenses |
29,150.00 |
34,694.00 |
|
Operating expenses |
60,569.00 |
61,886.00 |
|
Operating income (loss) |
-14,539.00 |
-23,098.00 |
|
Non-Operating Income |
|
|
|
Interest income |
4,396.00 |
4,013.00 |
|
Dividends |
0.00 |
139.00 |
|
Investment income |
0.00 |
139.00 |
|
Gains on disposal of fixed assets |
9,226.00 |
568,414.00 |
|
Foreign exchange gains |
0.00 |
3,899.00 |
|
Rent income |
2,773.00 |
8,688.00 |
|
Miscellaneous income |
2,691.00 |
3,830.00 |
|
Non-operating revenues and gains |
19,086.00 |
588,983.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
38.00 |
4,020.00 |
|
Losses from long-term equity investments under
the equity method |
7,720.00 |
132,572.00 |
|
Investment loss |
7,720.00 |
132,572.00 |
|
Foreign exchange losses |
3,329.00 |
0.00 |
|
Loss on depreciation and valuation loss form idle
assets |
435.00 |
3,298.00 |
|
Revaluation loss on financial assets |
183.00 |
984.00 |
|
Miscellaneous disbursements |
40.00 |
4,438.00 |
|
Non-operating expenses and losses |
11,745.00 |
145,312.00 |
|
Income from continuing operations before income
tax |
-7,198.00 |
420,573.00 |
|
Income tax expense (benefit) |
21,747.00 |
17,780.00 |
|
Income from continuing operations |
-28,945.00 |
402,793.00 |
|
Net income (loss) |
-28,945.00 (USD -984,130.00) |
402,793.00 (USD 13,694,962.00) |
|
Primary Earnings per Share |
|
|
|
Income (loss) from continuing operations |
-0.21 |
2.91 |
|
Cumulative effect of changes in accounting
principle |
0.00 |
0.00 |
|
Primary earnings per share |
-0.21 |
2.91 |
(As of 2014.02, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect
Method |
|
|
|
Net Income (Loss) |
-28,945.00 |
402,793.00 |
|
Adjustments to Reconcile Net Income to Net Cash
Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
4,156.00 |
6,442.00 |
|
Investment Loss (Income) Recognized under Equity
Method |
7,720.00 |
132,572.00 |
|
Cash Dividends Received from Investments
Accounted for under Equity Method |
1,650.00 |
14,259.00 |
|
Loss (Gain) on Disposal of Property, Plant and
Equipment |
-9,226.00 |
-568,414.00 |
|
Other Adjustments to Reconcile Net Income |
435.00 |
3,298.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for
Trading |
183.00 |
984.00 |
|
Decrease (Increase) in Notes Receivable |
321.00 |
5,708.00 |
|
Decrease (Increase) in Accounts Receivable |
-1,680.00 |
44,425.00 |
|
Decrease (Increase) in Inventories |
-424,678.00 |
-312,161.00 |
|
Decrease (Increase) in Other Current Assets |
-15,885.00 |
-2,378.00 |
|
Decrease (Increase) in Other Financial Assets |
4,382.00 |
-3,790.00 |
|
Decrease (Increase) in Deferred Tax Assets |
-2,514.00 |
17,780.00 |
|
Decrease (Increase) in Other Operating Assets |
4,402.00 |
-1,102.00 |
|
Increase (Decrease) in Notes Payable |
30,416.00 |
49,709.00 |
|
Increase (Decrease) in Accounts Payable |
47,173.00 |
3,714.00 |
|
Increase (Decrease) in Accounts Payable - Related
Parties |
3,144.00 |
-38,275.00 |
|
Increase (Decrease) in Income Tax Payable |
23,608.00 |
0.00 |
|
Increase (Decrease) in Accrued Expenses |
-3,349.00 |
1,548.00 |
|
Increase (Decrease) in Other Current Liabilities |
-5,862.00 |
-191.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
-364,549.00 |
-243,079.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial Assets as Fair Value
through Profit or Loss |
-2,000.00 |
0.00 |
|
Purchase of Property, Plant and Equipment |
-2,867.00 |
973,414.00 |
|
Proceeds from Disposal of Property, Plant and
Equipment |
99,496.00 |
-82,117.00 |
|
Decrease (Increase) in Restricted Assets |
71.00 |
-2,049.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
94,700.00 |
889,248.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
0.00 |
-275,000.00 |
|
Increase (Decrease) in Short-term Notes and Bills
Payable |
0.00 |
-49,962.00 |
|
Increase (Decrease) in Other Borrowings |
0.00 |
136,429.00 |
|
Increase (Decrease) in Guarantee Deposits
Received |
-2.00 |
-358.00 |
|
Cash Dividends Paid |
-41,586.00 |
0.00 |
|
Net Cash Provided by (Used in) Financing
Activities |
-41,588.00 |
-188,891.00 |
|
Effect of Exchange Rate Changes |
0.00 |
0.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
-311,437.00 |
457,278.00 |
|
Cash and Cash Equivalents, Beginning of year |
549,660.00 |
92,382.00 |
|
Cash and Cash Equivalents, End of year |
238,223.00 |
549,660.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
10,917.00 |
10,197.00 |
|
Capitalized Interest |
-10,880.00 |
-6,192.00 |
|
Interest Paid- Excluding Capitalized Interest |
37.00 |
4,005.00 |
|
Income Tax Paid |
653.00 |
0.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Cumulative Translation Adjustments |
-11,179.00 |
11,152.00 |
|
Others |
0.00 |
875,696.00 |
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
038512 |
|
Debtor Name: |
Hong Ho Precision Textile Co., Ltd. |
|
Document Number: |
327142 |
|
Date of Registration: |
1991-11-1 |
|
Date of Alteration: |
1991-11-1 |
|
Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
044799 |
|
Debtor Name: |
Hong Ho Precision Textile Co., Ltd. |
|
Document Number: |
198304 |
|
Date of Registration: |
1994-4-12 |
|
Date of Alteration: |
-- |
|
Status: |
Paid off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
059621 |
|
Debtor Name: |
Hong Ho Precision Textile Co., Ltd. |
|
Document Number: |
830922 |
|
Date of Registration: |
1998-10-14 |
|
Date of Alteration: |
1999-6-10 |
|
Status: |
Paid off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
063849 |
|
Debtor Name: |
Hong Ho Precision Textile Co., Ltd. |
|
Document Number: |
523101 |
|
Date of Registration: |
1999-11-16 |
|
Date of Alteration: |
-- |
|
Status: |
Paid off |
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Yang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.43 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.85.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.