|
Report Date : |
13.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
KUNG LONG
BATTERIES INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
No.244, Nan Kang 3 Rd., Nan Tou City, Nan Tou Hsien |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
25.01.1990 |
|
|
|
|
Com. Reg. No.: |
23556563 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Manufacturing and
sale of batteries |
|
|
|
|
No. of Employees : |
200 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-49 225-4777 |
|
Fax Number: |
Notes: Subject’s
exact name and address are as above and the supplied address is subject’s
subsidiary company name.
Subject was incorporated on 1990-01-25 with registered number 23556563 as Joint Stock Company in Taiwan.
Subject listed on
Taiwan stock exchange on 2002-01-22.
Change of Name
|
Current Company
Name (in Chinese) |
廣隆光電科技股份有限公司 |
|
Former Company Name
(in Chinese) |
廣隆電池工業股份有限公司 |
|
Name |
Subscription Shares |
|
Yaoming Li |
3,604,951 |
|
Ruixun Li |
|
|
8,242,802 |
|
|
Jingyi Li |
645,263 |
|
Maolong Investment Co., Ltd. (Literal Translation) |
1,277,469 |
|
Changshou Cai |
29,000 |
|
Lee Large Co., Ltd. |
1,000,000 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Maolong Investment Co., Ltd. (Literal Translation) |
|
Registered
Address: |
No. 269, Jen Ai St.,
Tsaotun Town, Nantou Hsien, Taiwan, R.O.C. |
|
Date of
Foundation: |
2004-07-16 |
|
Registration
Number: |
27400129 |
|
Registry: |
MOEA Central
Office |
|
Registered
Capital: |
NTD 20,000,000
(USD 658,000) (As of 2014.02, 1
NTD = 0.0329 USD) |
|
Legal Representatives: |
Donghua Zhong |
|
Legal Form: |
Private Limited
Liability Company |
|
Principal
Activities: |
General Investment |
|
2 |
|
|
Registered Name: |
Lee Large Co., Ltd. |
|
Registered
Address: |
No.61, Jen Ai St.,
Tsaotun Town, Nantou Hsien, Taiwan, R.O.C. |
|
Date of
Foundation: |
1999-10-21 |
|
Registration
Number: |
70646236 |
|
Registry: |
MOEA Central
Office |
|
Registered
Capital: |
NTD 59,070,000
(USD 1,943,403) (As of 2014.02, 1
NTD = 0.0329 USD) |
|
Legal Representatives: |
Yingyu Zhang |
|
Legal Form: |
Private Limited
Liability Company |
|
Principal
Activities: |
wholesale and
retail of batteries, etc. |
|
Date of Last
Annual Return: |
2011-08-02 |
Factories
|
1 |
|
|
Name: |
Kung Long
Batteries Industrial Co., Ltd. Kung Long Factory |
|
Address: |
No. 244, Nan Kang, 3Rd Rd., Nan Tou City, Nan Tou Hsien, Taiwan |
|
Date of
Foundation: |
1990-04-27 |
|
Date of
Registration: |
1990-05-19 |
|
Factory Registration
Number: |
99652016 |
|
Factory Manager: |
Yaoming Li |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2001-06-13 |
|
Major Products: |
271 Computer and its peripheral equipment 269 Other electronic components 282 Battery |
|
2 |
|
|
Name: |
Kung Long Batteries Industrial Co., Ltd. Lee Long Factory |
|
Address: |
No. 6, Zili 3Rd Rd., Yongfeng Li, Nan Tou City, Nan Tou Hsien, Taiwan |
|
Date of
Foundation: |
1995-06-08 |
|
Date of
Registration: |
1995-09-23 |
|
Factory
Registration Number: |
99652018 |
|
Factory Manager: |
Yaoming Li |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2013-09-13 |
|
Major Products: |
271 Computer and its peripheral equipment 269 Other electronic components 282 Battery |
Subsidiary Company
|
Name: |
Le Long Vietnam Co., Ltd. |
|
Address: |
Cum Cong Nghiep Duc My-Xa Duc Hoa Dong-Huyen Duc Hoa-Tinh Long An Vietnam |
|
Telephone Number: |
+84-72-377-9666 |
|
Fax Number: |
+84-72-377-9476 |
|
Principal Activities: |
Manufacturing and sale of batteries, etc. |
|
Staff: |
About 3000 Employees |
Core Management
Directors
|
1 |
|
|
Name |
Yaoming Li |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Ruixun Li |
|
Position |
Director |
|
3 |
|
|
Name |
Jingyi Li |
|
Position |
Director |
|
4 |
|
|
Name |
Zhengzhong Chen |
|
Position |
Director |
|
5 |
|
|
Name |
Donghua Zhong |
|
Position |
Director |
|
6 |
|
|
Name |
Zhiyuan Xu |
|
Position |
Director |
|
7 |
|
|
Name |
Yanhong Jiang |
|
Position |
Director |
|
8 |
|
|
Name |
Changshou Cai |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Shouxin Chen |
|
Position |
Supervisor |
|
10 |
|
|
Name |
Lee Large Co., Ltd. |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 200 Employees (Taiwan) |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
Subject is engaged in manufacturing of batteries, etc.
Subject has factories in Nan Tou Hsien, Taiwan for production.
Subject has a subsidiary company in Vietnam for production.
It is introduced that subject’s total annual production capacity is over 1,500,000 KAVH.
Subject obtained the certification of ISO9001, ISO 9002, ISO14001, OHSAS18001 and TL9000.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing, buying and selling, import and export of all kinds of batteries |
|
-- |
Manufacturing, assembling, processing, buying and selling of vehicle battery and closed lighting battery |
|
-- |
Buying and selling of the materials referred to in the preceding paragraph |
|
-- |
General import and export trade business (Besides licensed business) |
|
-- |
Processing, buying and selling of all kinds of computer and its peripheral equipment and parts |
|
-- |
Price bidding and distribution business related to domestic and foreign manufacturers products agent |
|
CC01010 |
Manufacturing of electricity generation, transmission and power machinery |
|
CC01030 |
Manufacturing of electric appliance |
|
CC01040 |
Manufacturing of lighting equipment |
|
CC01050 |
Manufacturing of the data storage and processing equipment |
|
CC01060 |
Manufacturing of cable machinery equipment |
|
CC01080 |
Manufacturing of electronic components |
|
CC01090 |
Manufacturing of batteries |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The components and raw materials for production are purchased from home and abroad.
Subject is engaged in sale of batteries, etc.
The major products sold by subject include electric vehicle battery, golf car battery, automotive battery, motorcycle battery and so on.
Subject’s sales regions include Taiwan domestic market, Hong Kong, Mainland China, Japan, South Korea, Singapore, India, Australia, Germany, US, Canada, Argentina, New Zealand, etc.
The general delivery lead time of subject is about 80 days.
Subject’s major customers are Advanced Battery Systems Inc. and Advanced Battery Systems Llc., etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase (Taiwan)
|
Terms |
Proportion |
|
|
Components and raw materials, etc |
T/T, Cash, Credit Sale, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Components and raw materials, etc |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Batteries, etc. |
T/T, Cash, Credit Sale, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Batteries, etc. |
L/C, T/T, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
178,029.00 |
223,349.00 |
|
Financial assets measured at fair value through profit or loss - current |
5,016.00 |
0.00 |
|
Notes receivable - net |
47,927.00 |
34,938.00 |
|
Accounts receivable - net |
664,997.00 |
446,855.00 |
|
Other financial assets - current |
978.00 |
0.00 |
|
Inventories |
178,921.00 |
274,268.00 |
|
Other current assets |
11,192.00 |
24,207.00 |
|
Current assets |
1,087,060.00 |
1,003,617.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
16,801.00 |
16,889.00 |
|
Financial assets carried at cost - non current |
0.00 |
0.00 |
|
Equity investments under equity method |
1,774,217.00 |
1,529,157.00 |
|
Investments |
1,774,217.00 |
1,529,157.00 |
|
Funds and long-term investments |
1,791,018.00 |
1,546,046.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
87,272.00 |
87,272.00 |
|
Buildings and structures |
87,936.00 |
89,474.00 |
|
Machinery and equipment |
17,952.00 |
30,396.00 |
|
Other facilities |
10,264.00 |
14,400.00 |
|
Fixed assets cost |
203,424.00 |
221,542.00 |
|
Accumulated depreciation |
-59,796.00 |
-76,188.00 |
|
Fixed assets |
143,628.00 |
145,354.00 |
|
Intangible Assets |
|
|
|
Other assets |
|
|
|
Rental assets |
56,006.00 |
56,443.00 |
|
Guarantee deposits paid |
160.00 |
160.00 |
|
Other assets - other |
1,480.00 |
17,676.00 |
|
Other assets |
57,646.00 |
74,279.00 |
|
Assets |
3,079,352.00 |
2,769,296.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
113,256.00 |
0.00 |
|
Financial liabilities measured at fair value through profit or loss - current |
245.00 |
229.00 |
|
Notes payable |
13,594.00 |
20,200.00 |
|
Accounts payable |
81,196.00 |
92,111.00 |
|
Accounts payable - related parties |
34,710.00 |
232,246.00 |
|
Income tax payable |
60,275.00 |
58,940.00 |
|
Accrued expenses |
104,757.00 |
71,609.00 |
|
Other current liabilities |
58,028.00 |
67,046.00 |
|
Current liabilities |
466,061.00 |
542,381.00 |
|
Long term Liabilities |
|
|
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
5,771.00 |
0.00 |
|
Guarantee deposits received |
107.00 |
900.00 |
|
Deferred income tax liabilities |
147,131.00 |
105,575.00 |
|
Other liabilities - other |
8,514.00 |
9,034.00 |
|
Other liabilities |
161,523.00 |
115,509.00 |
|
Liabilities |
627,584.00 |
657,890.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
815,854.00 |
815,854.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
592,178.00 |
592,178.00 |
|
Capital surplus - treasury stock transactions |
4,485.00 |
4,485.00 |
|
Capital surplus - premium from merger |
22,146.00 |
22,146.00 |
|
Capital surplus |
618,809.00 |
618,809.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
225,150.00 |
193,646.00 |
|
Special reserve |
106,130.00 |
153,775.00 |
|
Unappropriated retained earnings |
865,741.00 |
435,452.00 |
|
Retained earnings |
1,197,021.00 |
782,873.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
-159,775.00 |
-103,019.00 |
|
Net loss not recognized as pension cost |
-16,942.00 |
0.00 |
|
Unrealized gains (losses) on financial instruments |
-3,199.00 |
-3,111.00 |
|
|
0.00 |
0.00 |
|
Equity adjustments |
-179,916.00 |
-106,130.00 |
|
Stockholdersˉ equity |
2,451,768.00 (USD 80,663,167.20) |
2,111,406.00 (USD 69,465,257.40) |
|
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 = 0.0329 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
4,861,138.00 (USD 159,931,440.20) |
4,038,101.00 (USD 132,853,522.90) |
|
Sales returns |
8,583.00 |
13,455.00 |
|
Sales discounts and allowances |
13,242.00 |
10,213.00 |
|
Sales |
4,839,313.00 |
4,014,433.00 |
|
Other operating revenue |
61,121.00 |
58,371.00 |
|
Operating income |
4,900,434.00 |
4,072,804.00 |
|
Cost of sales |
4,199,975.00 |
3,652,399.00 |
|
Operating costs |
4,199,975.00 |
3,652,399.00 |
|
Gross profit (loss) from operations |
700,459.00 |
420,405.00 |
|
Unrealized gains on intercompany transactions |
-6,212.00 |
12.00 |
|
Selling expense |
172,781.00 |
162,771.00 |
|
General and administrative expenses |
71,048.00 |
54,590.00 |
|
Research and development expenses |
6,679.00 |
6,934.00 |
|
Operating expenses |
250,508.00 |
224,295.00 |
|
Operating income (loss) |
456,163.00 |
196,098.00 |
|
Non-Operating Income |
|
|
|
Interest income |
262.00 |
254.00 |
|
Income from long-term equity investments under the equity method |
313,441.00 |
143,504.00 |
|
Investment income |
313,441.00 |
143,504.00 |
|
Gains on disposal of fixed assets |
715.00 |
1,025.00 |
|
Foreign exchange gains |
1,715.00 |
23,777.00 |
|
Revaluation gain on financial assets |
42.00 |
0.00 |
|
Miscellaneous income |
8,065.00 |
22,905.00 |
|
Non-operating revenues and gains |
324,240.00 |
191,465.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
2,499.00 |
5,045.00 |
|
Loss on sale of investments |
0.00 |
2,816.00 |
|
Revaluation loss on financial assets |
0.00 |
706.00 |
|
Revaluation loss on financial liabilities |
42.00 |
229.00 |
|
Miscellaneous disbursements |
436.00 |
493.00 |
|
Non-operating expenses and losses |
2,977.00 |
9,289.00 |
|
Income from continuing operations before income tax |
777,426.00 |
378,274.00 |
|
Income tax expense (benefit) |
159,314.00 |
63,239.00 |
|
Income from continuing operations |
618,112.00 |
315,035.00 |
|
Net income (loss) |
618,112.00 (USD 20,335,884.80) |
315,035.00 (USD 10,364,651.50) |
|
Primary Earnings per Share |
|
|
|
Income (loss) from continuing operations |
7.58 |
3.90 |
|
Primary earnings per share |
7.58 |
3.90 |
|
Diluted earnings per share |
|
|
|
Income (loss) from continuing operations |
7.53 |
3.86 |
|
Diluted earnings per share |
7.53 |
3.86 |
(As of 2014.02, 1
NTD = 0.0329 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
618,112 |
315,035 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
6,202 |
5,990 |
|
Amortization Expense |
5,326 |
4,190 |
|
Provision (Reversal of Provision) for Bad Debts Losses |
0 |
-1,046 |
|
Amortization of Discounts (Premiums) on Bonds Payable |
0 |
926 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
3,676 |
-7,030 |
|
Investment Loss (Income) Recognized under Equity Method |
-313,441 |
-143,504 |
|
Cash Dividends Received from Investments Accounted for under Equity Method |
0 |
150,950 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
-715 |
-1,025 |
|
Loss (Gain) on Disposal of Long-term Investments under Equity Method |
0 |
2,816 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
0 |
935 |
|
Unrealized Gain (Loss) on Intercompany Transactions |
-6,211 |
12 |
|
Other Adjustments to Reconcile Net Income |
-3,997 |
-5,217 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
-5,000 |
0 |
|
Decrease (Increase) in Notes Receivable |
-12,989 |
-9,575 |
|
Decrease (Increase) in Accounts Receivable |
-218,142 |
6,485 |
|
Decrease (Increase) in Inventories |
91,671 |
52,350 |
|
Decrease (Increase) in Other Current Assets |
12,958 |
1,461 |
|
Decrease (Increase) in Other Financial Assets |
1,257 |
0 |
|
Decrease (Increase) in Deferred Tax Assets |
51,003 |
628 |
|
Decrease (Increase) in Other Operating Assets |
0 |
872 |
|
Increase (Decrease) in Notes Payable |
-6,606 |
-2,745 |
|
Increase (Decrease) in Accounts Payable |
-10,915 |
40,781 |
|
Increase (Decrease) in Accounts Payable - Related Parties |
-197,536 |
-83,261 |
|
Increase (Decrease) in Income Tax Payable |
1,335 |
58,940 |
|
Increase (Decrease) in Accrued Expenses |
33,148 |
-23,329 |
|
Increase (Decrease) in Other Current Liabilities |
-2,807 |
38,021 |
|
Increase (Decrease) in Accrued Pension Liabilities |
1,129 |
0 |
|
Increase (Decrease) in Other Operating Liabilities |
-187 |
-174 |
|
Net Cash Provided by (Used in) Operating Activities |
47,271 |
403,486 |
|
Cash Flows from Investing Activities |
|
|
|
Purchase of Property, Plant and Equipment |
-4,039 |
-4,571 |
|
Proceeds from Disposal of Property, Plant and Equipment |
382 |
343 |
|
Decrease (Increase) in Refundable Deposits |
0 |
1,176 |
|
Decrease (Increase) in Other Assets |
-1,430 |
-6,242 |
|
Net Cash Provided by (Used in) Investing Activities |
-5,087 |
-9,294 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
113,256.00 |
-110,694.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
-793.00 |
0.00 |
|
Cash Dividends Paid |
-203,964.00 |
-337,537.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-91,501.00 |
-448,231.00 |
|
Effect of Exchange Rate Changes |
3,997.00 |
5,217.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-45,320.00 |
-48,822.00 |
|
Cash and Cash Equivalents, Beginning of year |
223,349.00 |
272,171.00 |
|
Cash and Cash Equivalents, End of year |
178,029.00 |
223,349.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
2,458.00 |
4,162.00 |
|
Interest Paid- Excluding Capitalized Interest |
2,458.00 |
4,162.00 |
|
Income Tax Paid |
103,570.00 |
3,671.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Conversion of Bonds to Common Stock |
0.00 |
45,728.00 |
|
Name |
Mega International Commercial Bank Co., Ltd. |
Mortgage
No chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
|
Trial Number: |
95, Toulaojian, 3 |
|
Date of Trial: |
2006-10-13 |
|
Reason: |
The difference of
overtime pay |
|
Claimant: |
Kung Long
Batteries Industrial Co., Ltd. |
|
Defendant: |
Not Stated |
|
2 |
|
|
Trial Number: |
95, Toulaojian, 3 |
|
Date of Trial: |
2006-09-14 |
|
Reason: |
The difference of
overtime pay |
|
Claimant: |
Not Stated |
|
Defendant: |
Kung Long
Batteries Industrial Co., Ltd. |
|
3 |
|
|
Trial Number: |
95, Toubu, 7 |
|
Date of Trial: |
2006-01-25 |
|
Reason: |
The difference of
overtime pay |
|
Claimant: |
Not Stated |
|
Defendant: |
Kung Long
Batteries Industrial Co., Ltd. |
|
Name |
Mr. Zhai |
|
Position |
Salesman |
|
Department |
Overseas Sales |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.13 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.