|
Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
VOLTRONIC POWER TECHNOLOGY CORP. |
|
|
|
|
Registered Office : |
5F., No.151, Xinhu 1st Rd., Neihu Dist., Taipei City
11494, |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.05.2008 |
|
|
|
|
Com. Reg. No.: |
28865032 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of electronic components |
|
|
|
|
No. of Employees |
60 Employees (Taiwan) 1,000 Employees (Group) |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
TAIWAN ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are other major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, and following the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013 signed a free trade deal with New Zealand—Taipei’s first-ever with a country with which it does not maintain diplomatic relations—and in November inked a trade pact with Singapore. Negotiations continue on follow-on components of ECFA regarding trade in goods and a dispute resolution mechanism; a trade in services agreement is under review in the legislature. Taiwan's Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 accounting for 11.2% of the island's total population as of 2012. The island runs a large overall trade surplus largely because of its surplus with China, and its foreign reserves are the world's sixth largest, behind China, Japan, Saudi Arabia, Russia, and Switzerland. In 2006 China overtook the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Taiwan since 2009 has gradually loosened rules governing Chinese investment on the island, and has also secured greater market access for its investors in the mainland. In August 2012, Taiwan Central Bank signed a memorandum of understanding on cross-Strait currency settlement with its Chinese counterpart. The MOU allows for the direct settlement of Chinese RMB and the New Taiwan dollar across the Strait, which could help develop Taiwan into a local RMB hub. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved
|
Source
: CIA |
|
Company Name: |
VOLTRONIC POWER
TECHNOLOGY CORP. |
|
Supplied Name: |
VOLTRONIC POWER
TECHNOLOGY CORP. |
|
Trading Address: |
5F., No.151, Xinhu 1st Rd., Neihu Dist., Taipei City 11494, Taiwan (R.O.C.) |
|
Supplied Address: |
5F, NO. 151, XINHU 1ST ROAD, NEIHU DIST, TAIPEI TAIPEI TAIWAN |
|
Telephone Number: |
+886-2-2791-8296 |
|
Fax Number: |
+886-2-8791-8216 |
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as above.
Subject was incorporated on 2008-5-1 with registered number 28865032 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 2014-3-31.
|
Name |
Subscription Shares |
|
Zhuoming Xie |
6,845,208 |
|
Kai Hong International Investment Co., Ltd. (Literal Translation) |
2,593,631 |
|
FSP Technology Inc. |
6,111,187 |
|
RPS. S.P.A. (Italy) |
5,988,531 |
|
Fu Feng Sheng Investment Co., Ltd. (Literal Translation) |
2,733,531 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Kai Hong International Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
2nd Floor-1, No.333, Fuxing North Road, Songshan District, Taipei City, Taiwan |
|
Date of Foundation: |
2007-2-27 |
|
Registration Number: |
28474871 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 29,000,000 (USD 986,000) (As of 2014.06, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Cuifang Chen |
|
Legal Form: |
Private Limited Liabilities Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-1-11 |
|
2 |
|
|
Registered Name: |
FSP Technology Inc. |
|
Registered Address: |
No.22, Jianguo E. Rd., Taoyuan City, Taoyuan Hsien, Taiwan, R.O.C. |
|
Date of Foundation: |
1993-4-15 |
|
Registration Number: |
84239055 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 3,600,000,000 (USD 122,400,000) (As of 2014.06, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 2,344,657,920 (USD 79,718,369) |
|
Legal Representatives: |
Zongshun Wang |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
Yes; Stock Code: 3015 |
|
Date of Last Annual Return: |
2014-2-26 |
|
3 |
|
|
Registered Name: |
Fu Feng Sheng Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
No.27, Sanhe Road, Yihe Village, Citong Township, Yunlin County, Taiwan |
|
Date of Foundation: |
2006-7-3 |
|
Registration Number: |
28350436 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
NTD 100,000,000 (USD 3,400,000) (As of 2014.06, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 100,000,000 (USD 3,400,000) |
|
Legal Representatives: |
Yuzhe Lin |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-6-27 |
Subsidiaries
|
1 |
|
|
Name: |
Ri Yue Yuan Science and Technology (Shenzhen) Co., Ltd. (Literal Translation) |
|
Address: |
1~4/F, Bldg 5, Yusheng Industrial Park, No. 467, Section Xixiang, National Highway 107, Xixiang, Bao An District, Shenzhen, China |
|
Tel: |
+86-755-8601-6601 |
|
Fax: |
+86-755-8601-6603 |
|
Date of Foundation: |
2008-8-27 |
|
Registration Number: |
440306503324962 |
|
Registered Capital: |
USD 2,000,000 |
|
Paid-up Capital: |
USD 2,000,000 |
|
Legal Representatives: |
Zhuoming Xie |
|
Legal Form: |
Limited Liabilities Company |
|
2 |
|
|
Name: |
Zhi An Science and Technology (Shenzhen) Co., Ltd. (Literal Translation) |
|
Address: |
3/F, Bldg 9, Yusheng Industrial Park, No. 467, Section Xixiang, National Highway 107, Xixiang, Bao An District, Shenzhen, China |
|
Tel: |
+86-755-27470868 |
|
Fax: |
+86-755-23153339 |
|
Date of Foundation: |
2011-11-3 |
|
Registration Number: |
440306503415170 |
|
Registered Capital: |
USD 1,000,000 |
|
Paid-up Capital: |
USD 450,000 |
|
Legal Representatives: |
Zhuoming Xie |
|
Legal Form: |
Limited Liabilities Company |
Core Management
Directors
|
1 |
|
|
Name |
Zhuoming Xie |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Cuifang Chen |
|
Position |
Director |
|
3 |
|
|
Name |
FSP Technology Inc. |
|
Position |
Director |
|
4 |
|
|
Name |
Roberto Facci |
|
Position |
Director |
|
5 |
|
|
Name |
Jianran Li |
|
Position |
Independent Director |
|
6 |
|
|
Name |
Qingxi Yang |
|
Position |
Independent Director |
|
7 |
|
|
Name |
Chun-An Xu |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Yuzhe Lin |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Yi Chen |
|
Position |
Supervisor |
|
10 |
|
|
Name |
Guifang Liao |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 60 Employees (Taiwan) About 1,000 Employees (Group) |
Offices & Factories
|
|
Headquarters |
|
Add |
5F., No.151, Xinhu 1st Rd., Neihu Dist., Taipei City 11494, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of electronic components, etc.
Subject has factories in Shenzhen City, China for production.
It is introduced that subject provide OEM and ODM services.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
F113050 |
Wholesale of computer and office equipment |
|
F118010 |
Wholesale of software |
|
F119010 |
Wholesale of electronic materials |
|
F401010 |
International trade business |
|
IG03010 |
Energy technology service |
|
E605010 |
Computer installation |
|
E603050 |
Automatic control equipment engineering |
|
CC01010 |
Manufacturing of power equipment, transmission equipment and distribution equipment |
|
I501010 |
Product design |
|
I599990 |
Other design business |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The raw materials such as batteries, transformers, semiconductor parts, plastic materials, PCB and wire rod, etc for production are mostly purchased in domestic market.
Subject is engaged in sale of electronic components, etc.
The major products sold by subject include uninterrupted power supply, PV inverter, power inverter, voltage stabilizer and so on.
We obtained the proportion of subject’s revenue in 2012 as follows for reference.
|
Product |
The proportion of revenue in 2012 |
|
Uninterrupted Power Supply |
87% |
|
Other Electronic Components |
13% |
Subject’s sales regions include domestic market, other Asian countries, Europe and America, etc.
Subject’s major customers are Powervar Inc., Intex Technologies India Ltd and Compu Greiff SAS, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials, etc |
T/T, etc |
100% |
Foreign Purchase
Subject has little import.
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Electronic components, etc |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Electronic components, etc |
L/C, T/T, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
1,064,539.00 |
471,693.00 |
|
Financial assets measured at fair value through profit or loss - current |
136,482.00 |
310,913.00 |
|
Notes receivable - net |
4,680.00 |
0.00 |
|
Accounts receivable - net |
613,040.00 |
454,906.00 |
|
Accounts receivable - related parties - net |
109,389.00 |
118,419.00 |
|
Other receivables |
31,614.00 |
27,993.00 |
|
Other receivables - related parties |
0.00 |
15.00 |
|
Inventories |
6,385.00 |
1,056.00 |
|
Other prepayments |
9,681.00 |
15,274.00 |
|
Other current assets |
2,637.00 |
2,810.00 |
|
Current assets |
1,978,447.00 |
1,403,079.00 |
|
Funds and Investments |
|
|
|
Equity investments under equity method |
503,371.00 |
312,436.00 |
|
Investments |
503,371.00 |
312,436.00 |
|
Funds and long-term investments |
503,371.00 |
312,436.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Machinery and equipment |
43,171.00 |
36,381.00 |
|
Transportation equipment |
460.00 |
460.00 |
|
Office equipment |
4,555.00 |
4,608.00 |
|
Leasehold improvements |
4,758.00 |
4,758.00 |
|
Other facilities |
775.00 |
375.00 |
|
Fixed assets cost |
53,719.00 |
46,582.00 |
|
Accumulated depreciation |
-23,513.00 |
-14,965.00 |
|
Construction in process and prepayment for equipments |
63.00 |
282.00 |
|
Fixed assets |
30,269.00 |
31,899.00 |
|
Intangible Assets |
|
|
|
Computer software cost |
4,409.00 |
6,294.00 |
|
Intangible assets |
4,409.00 |
6,294.00 |
|
OtherAssets |
|
|
|
Guarantee deposits paid |
986.00 |
876.00 |
|
Deferred income tax assets - non current |
1,157.00 |
0.00 |
|
Other assets |
2,143.00 |
876.00 |
|
Assets |
2,518,639.00 |
1,754,584.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Notes payable |
3,827.00 |
2,229.00 |
|
Accounts payable |
29,690.00 |
41,795.00 |
|
Accounts payable - related parties |
880,763.00 |
509,494.00 |
|
Income tax payable |
53,161.00 |
19,941.00 |
|
Accrued expenses |
78,598.00 |
85,124.00 |
|
Other payables |
158.00 |
667.00 |
|
Advance receipts |
43,093.00 |
39,273.00 |
|
Other current liabilities |
1,486.00 |
389.00 |
|
Current liabilities |
1,090,776.00 |
698,912.00 |
|
Long term Liabilities |
|
|
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Deferred income tax liabilities |
0.00 |
1,463.00 |
|
Other liabilities |
0.00 |
1,463.00 |
|
Liabilities |
1,090,776.00 |
700,375.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
543,476.00 |
462,223.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
271,713.00 |
256,444.00 |
|
Capital surplus |
271,713.00 |
256,444.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
52,354.00 |
24,397.00 |
|
Unappropriated retained earnings |
564,975.00 |
304,000.00 |
|
Retained earnings |
617,329.00 |
328,397.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
-4,655.00 |
7,145.00 |
|
Equity adjustments |
-4,655.00 |
7,145.00 |
|
Stockholders’ equity |
1,427,863.00 (USD 48,547,342.00) |
1,054,209.00 (USD 35,843,106.00) |
|
Number of treasury stock acquired by the company and subsidiaries (unit: share) |
0.00 |
0.00 |
(As of 2014.06, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
4,668,260.00 (USD 158,720,840.00) |
3,426,586.00 (USD 116,503,924.00) |
|
Sales returns |
13,595.00 |
6,371.00 |
|
Sales |
4,654,665.00 |
3,420,215.00 |
|
Operating income |
4,654,665.00 |
3,420,215.00 |
|
Operating costs |
4,017,115.00 |
3,058,297.00 |
|
Gross profit (loss) from operations |
637,550.00 |
361,918.00 |
|
Selling expense |
105,587.00 |
95,205.00 |
|
General and administrative expenses |
74,036.00 |
63,864.00 |
|
Research and development expenses |
39,206.00 |
23,197.00 |
|
Operating expenses |
218,829.00 |
182,266.00 |
|
Operating income (loss) |
418,721.00 |
179,652.00 |
|
Non-Operating Income |
|
|
|
Interest income |
3,962.00 |
1,858.00 |
|
Income from long-term equity investments under the equity method |
194,651.00 |
121,216.00 |
|
Investment income |
194,651.00 |
121,216.00 |
|
Foreign exchange gains |
0.00 |
14,293.00 |
|
Revaluation gain on financial assets |
1,777.00 |
1,180.00 |
|
Miscellaneous income |
5.00 |
5.00 |
|
Non-operating revenues and gains |
200,395.00 |
138,552.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
5,907.00 |
4,687.00 |
|
Loss on disposal of fixed assets |
0.00 |
9.00 |
|
Foreign exchange losses |
24,325.00 |
0.00 |
|
Miscellaneous disbursements |
15.00 |
0.00 |
|
Non-operating expenses and losses |
30,247.00 |
4,696.00 |
|
Income from continuing operations before income tax |
588,869.00 |
313,508.00 |
|
Income tax expense (benefit) |
68,826.00 |
33,941.00 |
|
Income from continuing operations |
520,043.00 |
279,567.00 |
|
Net income (loss) |
520,043.00 (USD 17,681,462.00) |
279,567.00 (USD 9,505,278.00) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
9.66 |
5.79 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
9.37 |
5.46 |
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
520,043.00 |
279,567.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
8,601.00 |
6,607.00 |
|
Amortization Expense |
2,551.00 |
2,634.00 |
|
Provision (Reversal of Provision) for Bad Debts Losses |
1,389.00 |
301.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
-29.00 |
31.00 |
|
Investment Loss (Income) Recognized under Equity Method |
-194,651.00 |
-121,216.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
0.00 |
9.00 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
-1,777.00 |
-1,180.00 |
|
Loss (Gain) on Deferred Income Tax |
-31.00 |
1,908.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
176,208.00 |
-129,347.00 |
|
Decrease (Increase) in Notes Receivable |
-4,680.00 |
0.00 |
|
Decrease (Increase) in Accounts Receivable |
-159,523.00 |
-127,684.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
9,030.00 |
-36,772.00 |
|
Decrease (Increase) in Other Receivables |
-3,621.00 |
1,392.00 |
|
Decrease (Increase) in Other Receivable- Related Parties |
15.00 |
0.00 |
|
Decrease (Increase) in Inventories |
-5,300.00 |
-154.00 |
|
Decrease (Increase) in Other Prepayments |
5,593.00 |
-1,570.00 |
|
Decrease (Increase) in Other Current Assets |
0.00 |
1,104.00 |
|
Increase (Decrease) in Notes Payable |
1,598.00 |
2,026.00 |
|
Increase (Decrease) in Accounts Payable |
-12,105.00 |
8,785.00 |
|
Increase (Decrease) in Accounts Payable - Related Parties |
371,269.00 |
138,264.00 |
|
Increase (Decrease) in Income Tax Payable |
33,220.00 |
9.00 |
|
Increase (Decrease) in Accrued Expenses |
20,663.00 |
32,724.00 |
|
Increase (Decrease) in Other Payables |
158.00 |
0.00 |
|
Increase (Decrease) in Receipts in Advance |
3,820.00 |
13,694.00 |
|
Increase (Decrease) in Other Current Liabilities |
1,097.00 |
-335.00 |
|
Net Cash Provided by (Used in) Operating Activities |
773,538.00 |
70,797.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Investments Accounted for by Equity Method |
-10,500.00 |
-3,038.00 |
|
Purchase of Property, Plant and Equipment |
-7,638.00 |
-15,453.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
0.00 |
6.00 |
|
Decrease (Increase) in Refundable Deposits |
-110.00 |
193.00 |
|
Purchase of Intangible Assets |
-666.00 |
-2,100.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-18,914.00 |
-20,392.00 |
|
Cash Flows from Financing Activities |
|
|
|
Cash Dividends Paid |
-161,778.00 |
-79,563.00 |
|
Proceeds from Issuance of Shares |
0.00 |
132,000.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-161,778.00 |
52,437.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
592,846.00 |
102,842.00 |
|
Cash and Cash Equivalents, Beginning of year |
471,693.00 |
368,851.00 |
|
Cash and Cash Equivalents, End of year |
1,064,539.00 |
471,693.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
5,907.00 |
4,687.00 |
|
Interest Paid- Excluding Capitalized Interest |
5,907.00 |
4,687.00 |
|
Income Tax Paid |
35,637.00 |
32,023.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Cumulative Translation Adjustments |
-14,216.00 |
20,004.00 |
|
Employee Bonus Payable and Compensation Due to Directors and Supervisors |
27,189.00 |
82,997.00 |
|
Others |
2,416.00 |
-3,608.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
6,971.00 |
16,120.00 |
|
Increase (Decrease) in Payable for Equipment Purchased |
667.00 |
-667.00 |
|
Cash Paid for Acquisition of Property, Plant and Equipment |
7,638.00 |
15,453.00 |
Subject declined
to disclose any information about bankers, and we can not obtain the
information from other source.
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 |
Ms. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.01 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.