|
Report Date : |
24.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAITA CHEMICAL
CO., LTD. |
|
|
|
|
Registered Office : |
12F., |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.04.1960 |
|
|
|
|
Com. Reg. No.: |
11893409 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
·
Engaged in manufacturing and sales of
chemicals including Acrylonitrile-Butadiene-Styrene Resin (ABS), General
Purpose Polystyrene (GPPS), High Impact Polystyrene (HIPS), Expandable
Polystyrene (EPS), Glass Wool (GW), & Cubic Printing Manufacturing and sales of propylene, butadiene, styrene copolymer
resin (ABS). Manufacturing and sales of propylene, styrene copolymer resin (SAN). |
|
|
|
|
No. of Employees : |
About 390
Employees |
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 – 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: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-8751-6888 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact
name and address are as above.
Subject was incorporated on 1960-4-6 with registered number 11893409 as Joint Stock Company in Taiwan.
Subject listed on
Taiwan Stock Exchange on 1986-6-27.
|
Subscription Shares |
|
|
Lianju International Investment Co Ltd (literal translation) |
120,159,750 |
|
Yilian International Investment Co Ltd (literal translation) |
29,981,137 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
Registered Name: |
Lianju International Investment Co Ltd (literal
translation) |
|
Registered
Address: |
12F., No.37 Ji-Hu
Rd., Nei-Hu Dist., Taipei, Taiwan R.O.C. |
|
Date of
Foundation: |
1996-10-18 |
|
Registration
Number: |
97168102 |
|
Registry: |
Department of
Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered
Capital: |
NTD 3,567,616,000
(USD 120,942,182) (As of 2014.1, 1
NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 3,567,616,000
(USD 120,942,182) |
|
Legal
Representatives: |
Yigui Wu |
|
Legal Form: |
Joint Stock
Company |
|
Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
2013-8-6 |
Factories
|
1 |
|
|
Address: |
No. 3, Jianji Street, Qianzhen District, Gaoxiong City |
|
Date of Registration: |
1965-12-1 |
|
Factory
Registration Number: |
64000067 |
|
Factory Manager: |
Zhihong Liu |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2011-3-10 |
|
2 |
|
|
Address: |
No. 571, Minzu Road, 17 Tianliao Alley, Toufen Tow, Miaoli County |
|
Date of
Foundation: |
1991-1-25 |
|
Date of
Registration: |
1992-8-5 |
|
Factory
Registration Number: |
99631806 |
|
Factory Manager: |
Shengpeng Chen |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2007-12-19 |
|
3 |
|
|
Address: |
No. 5, Industrial 1 Road, Linyuan District, Gaoxiong City |
|
Date of
Foundation: |
1982-2-22 |
|
Date of
Registration: |
1990-12-31 |
|
Factory
Registration Number: |
99661848 |
|
Factory Manager: |
Qinglong Li |
|
Status: |
In Production |
|
Date of Last Annual
Return: |
2012-3-7 |
Core Management
Directors
|
1 |
|
|
Name |
Yigui Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Fengqiang Miao |
|
Position |
Director |
|
3 |
|
|
Name |
Hantai Liu |
|
Position |
Director |
|
4 |
|
|
Name |
Xinhuai Zhou |
|
Position |
Director |
|
5 |
|
|
Name |
Baoluo Ying |
|
Position |
Director/Manager |
|
Date of Appointment |
2008-9-30 |
|
6 |
|
|
Name |
Yishao Ke |
|
Position |
Director |
|
7 |
|
|
Name |
Zhentu Liu |
|
Position |
Director |
|
8 |
|
|
Name |
Shengquan Wu |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Zhaoan Wang |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 390 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
Subject is engaged in manufacturing of chemicals.
Subject has factories in Taiwan for production.
Subject obtained the certification of ISO9001, ISO14001, etc.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
|
The cotter of polystyrene and processed products |
|
|
Manufacturing and sales of propylene, butadiene, styrene copolymer resin (ABS). |
|
|
Manufacturing and sales of propylene, styrene copolymer resin (SAN). |
|
|
The cotter of glass cotton and related products |
|
|
The cotter of plastic raw materials and processed products |
|
E303020 |
Noise and vibration control engineering |
|
E801010 |
Interior decorating businesses |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The components and raw material for production are purchased
from both home and abroad.
The subject is mainly engaged in sales of chemicals
The major products sold by subject include Acrylonitrile-Butadiene-Styrene
Resin (ABS), General Purpose Polystyrene (GPPS), High Impact Polystyrene
(HIPS), Expandable Polystyrene (EPS), Glass Wool (GW) & Cubic Printing
The subject sales
regions include Asia, America, Europe, etc.
Subject sales the product with the brand of “Taitalac®”,
“Taitacell®”.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Products |
Components and raw material |
|
Terms |
Cash, T/T, etc |
Import
|
Products |
Components and raw material |
|
Terms |
Sales
Domestic Markets
|
Product |
Chemicals, etc. |
|
Terms |
T/T, Cash, etc |
Export
|
Products |
Chemicals, etc. |
|
Terms |
L/C, etc |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
97,237.00 |
183,747.00 |
|
Financial assets measured at fair value through profit or loss - current |
430,571.00 |
973,615.00 |
|
Notes receivable - net |
57,169.00 |
74,908.00 |
|
Accounts receivable - net |
721,503.00 |
1,018,793.00 |
|
Accounts receivable - related parties - net |
21,125.00 |
1,634.00 |
|
Other receivables |
69,395.00 |
83,743.00 |
|
Other receivables - related parties |
6,420.00 |
6,406.00 |
|
Inventories |
1,010,874.00 |
1,031,621.00 |
|
Other current assets |
73,310.00 |
64,733.00 |
|
Current assets |
2,487,604.00 |
3,439,200.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
341,230.00 |
320,719.00 |
|
Financial assets carried at cost - non current |
5,000.00 |
6,750.00 |
|
Equity investments under equity method |
2,130,368.00 |
2,177,002.00 |
|
Investments |
2,130,368.00 |
2,177,002.00 |
|
Funds and long-term investments |
2,476,598.00 |
2,504,471.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
255,269.00 |
255,269.00 |
|
Buildings and structures |
580,707.00 |
593,907.00 |
|
Machinery and equipment |
2,441,836.00 |
2,712,924.00 |
|
Transportation equipment |
21,913.00 |
21,913.00 |
|
Other facilities |
211,018.00 |
204,828.00 |
|
Revaluation increment |
381,360.00 |
381,360.00 |
|
Cost and revaluation increment |
3,892,103.00 |
4,170,201.00 |
|
Accumulated depreciation |
-2,961,690.00 |
-3,198,625.00 |
|
Construction in process and prepayment for equipments |
560,405.00 |
105,055.00 |
|
Fixed assets |
1,490,818.00 |
1,076,631.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
0 |
2 |
|
Intangible assets |
0 |
2 |
|
OtherAssets |
|
|
|
Rental assets |
93,525.00 |
93,306.00 |
|
Idled assets |
19,489.00 |
19,489.00 |
|
Guarantee deposits paid |
310 |
310 |
|
Deferred charges |
8,445.00 |
392 |
|
Deferred income tax assets - non current |
55,033.00 |
39,557.00 |
|
Other assets - other |
15,225.00 |
15,000.00 |
|
Other assets |
192,027.00 |
168,054.00 |
|
Assets |
6,647,047.00 |
7,188,358.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
0 |
319,557.00 |
|
Short-term notes and bills payable |
199,954.00 |
299,845.00 |
|
Financial liabilities measured at fair value through profit or loss - current |
1 |
57 |
|
Accounts payable |
647,766.00 |
554,318.00 |
|
Accounts payable - related parties |
1,092.00 |
635 |
|
Income tax payable |
957 |
19,925.00 |
|
Accrued expenses |
115,492.00 |
142,228.00 |
|
Other payables - related parties |
13,185.00 |
6,766.00 |
|
Other payables |
32,379.00 |
16,458.00 |
|
Long-term liabilities - current portion |
499,734.00 |
499,868.00 |
|
Other current liabilities |
5,676.00 |
6,249.00 |
|
Current liabilities |
1,516,236.00 |
1,865,906.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
400,000.00 |
499,422.00 |
|
Long-term liabilities |
400,000.00 |
499,422.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
143,860.00 |
143,860.00 |
|
Reserves |
143,860.00 |
143,860.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
520,049.00 |
501,236.00 |
|
Guarantee deposits received |
779 |
590 |
|
Other liabilities |
520,828.00 |
501,826.00 |
|
Liabilities |
2,580,924.00 |
3,011,014.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
3,276,518.00 |
3,120,493.00 |
|
Capital Surplus |
|
|
|
Capital surplus - long-term equity investments |
4,873.00 |
4,338.00 |
|
Capital surplus |
4,873.00 |
4,338.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
95,436.00 |
68,333.00 |
|
Unappropriated retained earnings |
103,112.00 |
412,389.00 |
|
Retained earnings |
198,548.00 |
480,722.00 |
|
Stockholders' Equity and Other adjustmen |
|
|
|
Cumulative translation adjustments |
104,447.00 |
160,233.00 |
|
Net loss not recognized as pension cost |
-79,687.00 |
-90,874.00 |
|
Unrealized gains (losses) on financial instruments |
282,154.00 |
223,162.00 |
|
Unrealized Revaluation Increment |
279,270.00 |
279,270.00 |
|
Equity adjustments |
586,184.00 |
571,791.00 |
|
Stockholdersˉ equity |
4,066,123.00 |
4,177,344.00 |
|
Number of treasury stock acquired by the company and subsidiaries (unit: share) |
0 |
0 |
|
|
0 |
0 |
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
10,164,263.00 |
10,851,836.00 |
|
Sales discounts and allowances |
12,697.00 |
17,432.00 |
|
Sales |
10,151,566.00 |
10,834,404.00 |
|
Operating income |
10,151,566.00 |
10,834,404.00 |
|
Cost of sales |
9,734,804.00 |
10,201,475.00 |
|
Operating costs |
9,734,804.00 |
10,201,475.00 |
|
Gross profit (loss) from operations |
416,762.00 |
632,929.00 |
|
Selling expense |
380,890.00 |
398,969.00 |
|
General and administrative expenses |
150,900.00 |
97,607.00 |
|
Research and development expenses |
25,572.00 |
25,375.00 |
|
Operating expenses |
557,362.00 |
521,951.00 |
|
Operating income (loss) |
-140,600.00 |
110,978.00 |
|
Non-Operating Income |
|
|
|
Interest income |
8,034.00 |
10,228.00 |
|
Inome from long-term equity investments under the equity method |
19,440.00 |
121,573.00 |
|
Dividends |
14,219.00 |
13,828.00 |
|
Investment income |
33,659.00 |
135,401.00 |
|
Gains on sale of investments |
9,571.00 |
3,603.00 |
|
Foreign exchange gains |
0.00 |
19,480.00 |
|
Rent income |
28,460.00 |
28,515.00 |
|
Revaluation gain on financial assets |
58,627.00 |
26,966.00 |
|
Miscellaneous income |
8,131.00 |
11,541.00 |
|
Non-operating revenues and gains |
146,482.00 |
235,734.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
15,621.00 |
18,309.00 |
|
Foreign exchange losses |
26,489.00 |
0.00 |
|
Financial expense |
6,438.00 |
9,516.00 |
|
Impairment loss on assets |
23,360.00 |
0.00 |
|
Revaluation loss on financial liabilities |
1,786.00 |
13,870.00 |
|
Miscellaneous disbursements |
7,379.00 |
5,444.00 |
|
Non-operating expenses and losses |
81,073.00 |
47,139.00 |
|
Income from continuing operations before income tax |
-75,191.00 |
299,573.00 |
|
Income tax expense (benefit) |
-11,444.00 |
28,541.00 |
|
Income from continuing operations |
-63,747.00 |
271,032.00 |
|
Net income (loss) |
-63,747.00 |
271,032.00 |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
-0.19 |
0.83 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
-0.19 |
0.83 |
Unit: NTD/000
|
|
2012 |
2011 |
|
Net Income (Loss) |
-63,747.00 |
271,032.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
81,915.00 |
92,055.00 |
|
Amortization Expense |
169.00 |
13,302.00 |
|
Provision (Reversal of Provision) for Bad Debts Losses |
52,750.00 |
-3,953.00 |
|
Provision (Reversal of Provision) for Sales Returns, Discounts and Allowances |
463.00 |
387.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
-8,006.00 |
14,807.00 |
|
Investment Loss (Income) Recognized under Equity Method |
-19,440.00 |
-121,573.00 |
|
Cash Dividends Received from Investments Accounted for under Equity Method |
2,414.00 |
4,962.00 |
|
Loss (Gain) on Disposal of Property, Plan and Equipment |
840.00 |
-763.00 |
|
Loss (Gain) on Disposal of Investments |
-9,571.00 |
-3,603.00 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
-49,500.00 |
-7,200.00 |
|
Impairment Losses on Financial Asset |
23,360.00 |
0.00 |
|
Loss (Gain) on Deferred Income Tax |
-12,332.00 |
1,393.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
0.00 |
50,000.00 |
|
Decrease (Increase) in Notes Receivable |
17,739.00 |
-14,734.00 |
|
Decrease (Increase) in Accounts Receivable |
244,077.00 |
57,548.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
-19,491.00 |
8,436.00 |
|
Decrease (Increase) in Other Receivables |
14,348.00 |
-23,210.00 |
|
Decrease (Increase) in Other Receivable- Related Parties |
-14.00 |
1,246.00 |
|
Decrease (Increase) in Inventories |
28,753.00 |
-225,747.00 |
|
Decrease (Increase) in Other Current Assets |
-605.00 |
-7,305.00 |
|
Increase (Decrease) in Accounts Payable |
93,448.00 |
3,766.00 |
|
Increase (Decrease) in Accounts Payable - Related Parties |
457.00 |
-473.00 |
|
Increase (Decrease) in Income Tax Payable |
-18,968.00 |
-5,009.00 |
|
Increase (Decrease) in Accrued Expenses |
-26,736.00 |
-23,253.00 |
|
Increase (Decrease) in Other Payables |
-1,485.00 |
1,851.00 |
|
Increase (Decrease) in Other Payable - Related Parties |
6,419.00 |
1,413.00 |
|
Increase (Decrease) in Other Current Liabilities |
-573.00 |
-3,047.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
31,680.00 |
30,251.00 |
|
Net Cash Provided by (Used in) Operating Activities |
368,364.00 |
112,579.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial Assets as Fair Value through Profit or Loss |
-4,147,800.00 |
-3,658,000.00 |
|
Proceeds from Disposal of Financial Assets as Fair Value through Profit or Loss |
4,747,197.00 |
3,577,529.00 |
|
Proceeds from Disposal of Available-for-sale Financial Assets |
13,398.00 |
1,891.00 |
|
Capital Reduction of Financial Assets Carried at Cost |
1,750.00 |
1,500.00 |
|
Purchase of Property, Plant and Equipment |
-479,940.00 |
-119,625.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
185.00 |
763.00 |
|
Increase in Deferred Charges |
-8,222.00 |
-504.00 |
|
Decrease (Increase) in Restricted Assets |
-225.00 |
110,000.00 |
|
Net Cash Provided by (Used in) Investing Activities |
126,343.00 |
-86,446.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-319,557.00 |
139,912.00 |
|
Increase (Decrease) in Short-term Notes and Bills Payable |
-99,891.00 |
299,845.00 |
|
Proceeds from Long-term Debt |
900,444.00 |
50,366.00 |
|
Repayment of Long-term Debt |
-1,000,000.00 |
-700,000.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
189.00 |
500.00 |
|
Cash Dividends Paid |
-62,402.00 |
-139,304.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-581,217.00 |
-348,681.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-86,510.00 |
-322,548.00 |
|
Cash and Cash Equivalents, Beginning of year |
183,747.00 |
506,295.00 |
|
Cash and Cash Equivalents, End of year |
97,237.00 |
183,747.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
18,004.00 |
18,706.00 |
|
Interest Paid- Excluding Capitalized Interest |
15,144.00 |
18,510.00 |
|
Income Tax Paid |
20,663.00 |
32,157.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
499,734.00 |
499,868.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
497,346.00 |
132,363.00 |
|
Increase (Decrease) in Payable for Equipment Purchased |
-17,406.00 |
-12,738.00 |
|
Cash Paid for Acquisition of Property, Plant and Equipment |
479,940.00 |
119,625.00 |
Mortgage
No chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
The Operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.