|
Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCI PHARMTECH, INC. |
|
|
|
|
Registered Office : |
No.186-2, Hai-Hu-Tsun, Lu Chu Hsiang, Taoyuan County 338, |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.09.1987 |
|
|
|
|
Com. Reg. No.: |
22662545 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of active pharmaceutical
ingredients |
|
|
|
|
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. 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: |
SCI PHARMTECH, INC. |
|
Supplied Name: |
SCI PHARMTECH INC |
|
Trading Address: |
No.186-2, Hai-Hu-Tsun, Lu Chu Hsiang, Taoyuan County 338, Taiwan, R.O.C. |
|
Supplied Address: |
186-2 Hai-Hu-Tsun-LU-ChuHsiang, Taoyuan, Taiwan |
|
Telephone Number: |
+886-3-354-3133 |
|
Fax Number: |
+886-3-354-3483 |
|
Website: |
Notes: The exact
name and address are as above.
|
Registered Name: |
SCI PHARMTECH, INC. |
|
Registered Address: |
No.186-2, Hai-Hu-Tsun, Lu Chu Hsiang, Taoyuan County 338, Taiwan, R.O.C. |
|
Date of Foundation: |
1987-9-18 |
|
Registration Number: |
22662545 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 900,000,000 (USD 30,600,000) (As of 2014.02, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 657,001,070 (USD 22,338,036) |
|
Legal Representatives: |
Yonglian Wu |
|
Legal Form: |
|
|
Principal Activities: |
Manufacturing and sale of active pharmaceutical ingredients, etc |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1987-9-18 with registered number 22662545 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 2004-1-7.
Change of Name
|
Former Chinese Name |
旭富化學股份有限公司 |
|
Current Chinese Name |
旭富製藥科技股份有限公司 |
|
Former English Name |
Siegfried Chemicals, Inc. |
|
Current English Name |
SCI Pharmtech, Inc. |
|
Name |
Subscription Shares |
|
Mercuries & Associates, Ltd. |
24,034,412 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
Registered Name: |
Mercuries & Associates, Ltd. |
|
Registered Address: |
No.145, Sec.2, Chien Kuo N. Road, Jhongshan Dist., Taipei 104, Taiwan, R.O.C. |
|
Date of Foundation: |
1965-2-19 |
|
Registration Number: |
11052709 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 7,000,000,000 (USD 238,000,000) (As of 2014.02, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 6,813,829,020 (USD 231,670,187) |
|
Legal Representatives: |
Xiangli Chen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
Yes; Stock Code: 2905 |
|
Date of Listed: |
1988-9-19 |
|
Date of Last Annual Return: |
2014-1-22 |
Factory
|
Name: |
Taoyuan Factory |
|
Address: |
No.186-2, Hai-Hu-Tsun, Lu Chu Hsiang, Taoyuan County 338, Taiwan, R.O.C. |
|
Date of Foundation: |
1988-10-6 |
|
Date of Registration: |
1990-11-21 |
|
Factory Registration Number: |
99623565 |
|
Factory Manager: |
Yonglian Wu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2010-3-3 |
|
Major Products: |
199 other chemical products 200 medicine and medical chemical products |
Core Management
Directors
|
1 |
|
|
Name |
Yonglian Wu |
|
Position |
Board Director |
|
2 |
|
|
Name |
Xiangli Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Weijun Weng |
|
Position |
Director/ Manager |
|
Date of Appointment |
2004-6-16 |
|
4 |
|
|
Name |
Yanru Chen |
|
Position |
Director |
|
5 |
|
|
Name |
Decheng Du |
|
Position |
Independent Director |
|
6 |
|
|
Name |
Xianzhi Zheng |
|
Position |
Independent Director |
|
7 |
|
|
Name |
Hongzhi Wu |
|
Position |
Independent Director |
Personnel Structure
|
Total Employees |
About 200 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.186-2, Hai-Hu-Tsun, Lu Chu Hsiang, Taoyuan County 338, Taiwan, R.O.C. |
Production Information
Subject is engaged in manufacturing of active pharmaceutical ingredients and drug intermediates, etc.
Subject has a factory in Taoyuan County, Taiwan for production.
Subject obtained the certifications of ISO 9001, ISO 14001 and OHSAS 18001, etc.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing, processing and sale of bulk pharmaceutical chemicals, intermediates and fine chemical |
|
-- |
An agent assists in developing quoting, bidding and distributing about your above mentioned products. |
|
-- |
As an agent of assist in researching and developing of above mentioned products |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The raw materials for production are purchased from both home and abroad.
It is introduced that subject imports some technology from Switzerland.
Subject is engaged in sale of active pharmaceutical ingredients and drug intermediates, etc.
The major active pharmaceutical ingredients sold by subject include allopurinol, amobarbital, probucol, pentobarbital sodium, thiopental, valproic acid, sodium valproate, divalproex sodium, bisoprolol hemifumarate and propafenone, etc.
The products sold by subject are applied to manufacturing
Subject’s sales regions include domestic market, Japan, Europe and USA, etc.
One of subject’s major customers is Mylan Inc.
Major Products
|
Type |
Product |
|
Active Pharmaceutical Ingredients |
Allopurinol Amobarbital Probucol Pentobarbital Sodium Thiopental Valproic Acid Sodium Valproate Divalproex Sodium Bisoprolol Hemifumarate Propafenone |
|
Drug Intermediates |
Diethyl dipropylmalonate Diethyl ethyl (1-methylbutyl) malonate Benzylmalonic acid diethyl ester Diethyl isobutylmalonate Diethyl isopropylmalonate Diethyl n-butylmalonate Ethyl 2-allyl-2-cyano-3-methylhexanoate Ethyl ethylphenylcyanoacetate Ethylphenylmalonic acid diamine Propiophenone Diethyl ketone Aminazole 3-Azetidinol hydrochloride Benzhydrylamine 1-Benzhydrylazetidin-3-ol 1-Benzosuberone Cyanoethylthiomethyl-2-thiazolylguanidine Dibenzosuberone (R)-Ethylnipecotate-L-tartaric acid 1-(2-Hydroxyphenyl)-3-phenylpropan-1- one 1-(2-((oxiran-2-yl)methoxy)phenyl)-3-phenylpropan-1-one N-Methyl-4-chloropiperidine N-Methyl-4-piperidinol 4-Chloropiperidine hydrochloride α-Phenyl-2-piperidineacetamide α-Phenyl-2-piperidineacetic acid (+)-α-Phenyl-2-piperidineacetic acid hydrochloride Pyrogallolaldehyde (S)-3-(Methylamino)-1-(2-thienyl)propan-1-ol 5-Hydroxymethyl Thiazole |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials, etc |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Raw materials, etc |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Pharmaceutical ingredients |
Cash, T/T, Credit Sale, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Pharmaceutical ingredients |
L/C, T/T, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
19,665.00 |
28,202.00 |
|
Notes receivable - net |
8,243.00 |
9,407.00 |
|
Accounts receivable - net |
207,471.00 |
193,915.00 |
|
Other receivables |
3,194.00 |
2,379.00 |
|
Inventories |
293,215.00 |
310,800.00 |
|
Prepaid expenses |
5,197.00 |
4,666.00 |
|
Other prepayments |
5,474.00 |
8.00 |
|
Other current assets |
16,058.00 |
16,197.00 |
|
Current assets |
558,517.00 |
565,574.00 |
|
Funds and Investments |
|
|
|
Financial assets carried at cost - non current |
0.00 |
34,920.00 |
|
Equity investments under equity method |
68,172.00 |
30,206.00 |
|
Investments |
68,172.00 |
30,206.00 |
|
Funds and long-term investments |
68,172.00 |
65,126.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
70,609.00 |
70,609.00 |
|
Land improvements |
3,928.00 |
4,226.00 |
|
Buildings and structures |
551,572.00 |
389,516.00 |
|
Machinery and equipment |
1,046,213.00 |
966,887.00 |
|
Office equipment |
14,376.00 |
13,238.00 |
|
Fixed assets cost |
1,686,698.00 |
1,444,476.00 |
|
Accumulated depreciation |
-903,989.00 |
-805,443.00 |
|
Construction in process and prepayment for equipments |
151,179.00 |
226,104.00 |
|
Fixed assets |
933,888.00 |
865,137.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
133.00 |
164.00 |
|
Intangible assets |
133.00 |
164.00 |
|
OtherAssets |
|
|
|
Guarantee deposits paid |
0.00 |
13.00 |
|
Deferred charges |
846.00 |
666.00 |
|
Deferred income tax assets - non current |
21,008.00 |
18,965.00 |
|
Other assets |
21,854.00 |
19,644.00 |
|
Assets |
1,582,564.00 |
1,515,645.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
35,024.00 |
175,918.00 |
|
Financial liabilities measured at fair value through profit or loss - current |
0.00 |
66.00 |
|
Notes payable |
9,855.00 |
9,495.00 |
|
Accounts payable |
72,664.00 |
62,152.00 |
|
Income tax payable |
22,441.00 |
14,738.00 |
|
Accrued expenses |
116,694.00 |
82,207.00 |
|
Other payables |
24,037.00 |
18,435.00 |
|
Advance receipts |
22,358.00 |
7,708.00 |
|
Other current liabilities |
388.00 |
730.00 |
|
Current liabilities |
303,461.00 |
371,449.00 |
|
Long term Liabilities |
|
|
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
17,205.00 |
12,991.00 |
|
Other liabilities |
17,205.00 |
12,991.00 |
|
Liabilities |
320,666.00 |
384,440.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
493,173.00 |
491,663.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
154,151.00 |
152,568.00 |
|
Capital surplus - gain on disposal of fixed assets |
980.00 |
980.00 |
|
Capital surplus - long-term equity investments |
14,299.00 |
0.00 |
|
Capital surplus - other |
5,582.00 |
5,582.00 |
|
Capital surplus |
175,012.00 |
159,130.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
128,142.00 |
119,140.00 |
|
Special reserve |
12,879.00 |
9,659.00 |
|
Unappropriated retained earnings |
466,793.00 |
362,287.00 |
|
Retained earnings |
607,814.00 |
491,086.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
1,260.00 |
2,205.00 |
|
Net loss not recognized as pension cost |
-15,652.00 |
-12,879.00 |
|
Unrealized gains (losses) on financial instruments |
291.00 |
0.00 |
|
Equity adjustments |
-14,101.00 |
-10,674.00 |
|
Stockholdersˉ equity |
1,261,898.00 (USD 42,904,532.00) |
1,131,205.00 (USD 38,460,970.00) |
|
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)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
1,278,713.00 (USD 43,476,242.00) |
1,073,478.00 (USD 36,498,252.00) |
|
Sales returns |
15,778.00 |
35,625.00 |
|
Sales discounts and allowances |
363.00 |
0.00 |
|
Sales |
1,262,572.00 |
1,037,853.00 |
|
Operating income |
1,262,572.00 |
1,037,853.00 |
|
Cost of sales |
864,684.00 |
730,596.00 |
|
Operating costs |
864,684.00 |
730,596.00 |
|
Gross profit (loss) from operations |
397,888.00 |
307,257.00 |
|
Selling expense |
49,030.00 |
32,638.00 |
|
General and administrative expenses |
58,798.00 |
45,020.00 |
|
Research and development expenses |
34,496.00 |
39,108.00 |
|
Operating expenses |
142,324.00 |
116,766.00 |
|
Operating income (loss) |
255,564.00 |
190,491.00 |
|
Non-Operating Income |
|
|
|
Interest income |
23.00 |
20.00 |
|
Gains on disposal of fixed assets |
22.00 |
174.00 |
|
Foreign exchange gains |
5,490.00 |
17,894.00 |
|
Reversal of provision for bad debts |
144.00 |
228.00 |
|
Miscellaneous income |
3,563.00 |
6,428.00 |
|
Non-operating revenues and gains |
9,242.00 |
24,744.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
228.00 |
114.00 |
|
Losses from long-term equity investments under the equity method |
10,599.00 |
5,498.00 |
|
Investment loss |
10,599.00 |
5,498.00 |
|
Loss on disposal of fixed assets |
0.00 |
443.00 |
|
Foreign exchange losses |
15,222.00 |
10,233.00 |
|
Impairment loss on assets |
0.00 |
92,400.00 |
|
Revaluation loss on financial liabilities |
0.00 |
66.00 |
|
Miscellaneous disbursements |
603.00 |
117.00 |
|
Non-operating expenses and losses |
26,652.00 |
108,871.00 |
|
Income from continuing operations before income tax |
238,154.00 |
106,364.00 |
|
Income tax expense (benefit) |
43,705.00 |
16,348.00 |
|
Income from continuing operations |
194,449.00 |
90,016.00 |
|
Net income (loss) |
194,449.00 (USD 6,611,266.00) |
90,016.00 (USD 3,060,544.00) |
|
Primary Earnings per Share |
|
|
|
Income (loss) from continuing operations |
3.95 |
1.84 |
|
Primary earnings per share |
3.95 |
1.84 |
|
Diluted earnings per share |
|
|
|
Income (loss) from continuing operations |
3.90 |
1.82 |
|
Diluted earnings per share |
3.90 |
1.82 |
(As of 2014.02, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
194,449.00 |
90,016.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
110,425.00 |
104,892.00 |
|
Amortization Expense |
407.00 |
213.00 |
|
Provision (Reversal of Provision) for Bad Debts Losses |
-144.00 |
-228.00 |
|
Share-based Compensation |
0.00 |
5,582.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
3,059.00 |
13,332.00 |
|
Investment Loss (Income) Recognized under Equity Method |
10,599.00 |
5,498.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
549.00 |
353.00 |
|
Property, Plant and Equipment Transferred to Expenses |
295.00 |
772.00 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
0.00 |
66.00 |
|
Impairment Losses on Financial Asset |
0.00 |
92,400.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
1,165.00 |
4,632.00 |
|
Decrease (Increase) in Accounts Receivable |
-13,413.00 |
-11,325.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
0.00 |
4,299.00 |
|
Decrease (Increase) in Other Receivables |
-815.00 |
-168.00 |
|
Decrease (Increase) in Inventories |
14,526.00 |
-63,919.00 |
|
Decrease (Increase) in Prepaid Expenses |
-531.00 |
1,828.00 |
|
Decrease (Increase) in Other Prepayments |
-4,787.00 |
-8.00 |
|
Decrease (Increase) in Other Current Assets |
138.00 |
-5,021.00 |
|
Decrease (Increase) in Deferred Tax Assets |
-2,043.00 |
-16,832.00 |
|
Increase (Decrease) in Notes Payable |
360.00 |
-795.00 |
|
Increase (Decrease) in Accounts Payable |
10,512.00 |
11,142.00 |
|
Increase (Decrease) in Income Tax Payable |
7,702.00 |
5,002.00 |
|
Increase (Decrease) in Accrued Expenses |
34,488.00 |
7,748.00 |
|
Increase (Decrease) in Other Payables |
5,780.00 |
2,685.00 |
|
Increase (Decrease) in Receipts in Advance |
14,650.00 |
-247.00 |
|
Increase (Decrease) in Other Current Liabilities |
-342.00 |
172.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
1,473.00 |
1,305.00 |
|
Net Cash Provided by (Used in) Operating Activities |
388,502.00 |
253,394.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial Assets as Fair Value through Profit or Loss |
0.00 |
122.00 |
|
Purchase of Property, Plant and Equipment |
-180,899.00 |
-147,707.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
22.00 |
424.00 |
|
Decrease (Increase) in Refundable Deposits |
13.00 |
0.00 |
|
Increase in Deferred Charges |
-586.00 |
-419.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-181,450.00 |
-147,580.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-140,894.00 |
918.00 |
|
Increase (Decrease) in Financial Liabilities at Fair Value through Profit Loss |
-66.00 |
0.00 |
|
Cash Dividends Paid |
-77,722.00 |
-117,694.00 |
|
Exercise of Employee Stock Options |
3,093.00 |
3,094.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-215,589.00 |
-113,682.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-8,537.00 |
-7,868.00 |
|
Cash and Cash Equivalents, Beginning of year |
28,202.00 |
36,070.00 |
|
Cash and Cash Equivalents, End of year |
19,665.00 |
28,202.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
458.00 |
1,810.00 |
|
Capitalized Interest |
-161.00 |
-1,712.00 |
|
Interest Paid- Excluding Capitalized Interest |
297.00 |
98.00 |
|
Income Tax Paid |
37,912.00 |
33,567.00 |
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
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. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
|
|
1 |
Rs.103.06 |
|
Euro |
1 |
Rs.84.92 |
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.