|
Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
VICTOR TAICHUNG
MACHINERY WORKS CO., LTD. |
|
|
|
|
Registered Office : |
No. 2088, Section 4, Taiwan Boulevard Road,
Taichung 407, Taiwan, R.O.C. |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
08.10.1963 |
|
|
|
|
Com. Reg. No.: |
51817603 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of machining
centers. |
|
|
|
|
No. of Employees |
850 |
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-4-2359-2101 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as above.
Subject was incorporated on
1963-10-8 with registered number 51817603 as Joint Stock
Company in Taiwan.
Subject
was listed on Taiwan stock exchange on 1990-11-30 with stock symbol: 8707 and delisted
on 1998-11-17.
From subject’s history, we found the local court judged subject
reorganization on 2000-3-25 and it has been finished on 2013-10-21.
Definition
of reorganization:
A
process designed to revive a financially troubled or bankrupt firm. Reorganization
involves the restatement of assets and liabilities, as well as holding talks
with creditors in order to make arrangements for maintaining repayments.
|
Name |
Subscription Shares |
|
V.T.M. Company Ltd. |
6,000,010 |
|
Juhe Investment Co.,
Ltd. (Literal Translation) |
10,993,026 |
|
Juzhong Investment
Co., Ltd. (Literal Translation) |
10,991,163 |
|
Tingyun Huang |
8,939 |
|
Dingyao Investment Co., Ltd. (Literal Translation) |
10,434,730 |
The information above is that of subject’s major shareholders.
|
1 |
|
|
Registered Name: |
V.T.M. Company
Ltd. |
|
Registered Address: |
13-1, 11th Rd., Taichung Industrial Park, Taichung, Taiwan, R.O.C. |
|
Date of Foundation: |
1987-1-24 |
|
Registration Number: |
22384114 |
|
Registry: |
Taichung City Government |
|
Registered Capital: |
NTD 120,000,000 (USD 4,080,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 120,000,000 (USD 4,080,000) |
|
Legal Representatives: |
Juhe Investment Co., Ltd. (Literal Translation) |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
2013-7-11 |
|
2 |
|
|
Registered Name: |
Juhe Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
1st Floor, No.1, Lane 121, Furen Street, Tuku Li, West
District, Taichung City, Taiwan |
|
Date of Foundation: |
2002-10-8 |
|
Registration Number: |
80055370 |
|
Registry: |
Taichung City Government |
|
Registered Capital: |
NTD 5,500,000 (USD 187,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Dechuan Liao |
|
Legal Form: |
Private Limited Liabilities Company |
|
Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
2013-8-19 |
|
3 |
|
|
Registered Name: |
Dingyao
Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
4/F-1, No.262, Sec 2, Henan Road, Fengjia Li, Xitun District, Taichung
City, Taiwan |
|
Date of Foundation: |
2000-11-2 |
|
Registration Number: |
12646618 |
|
Registry: |
Taichung City Government |
|
Registered Capital: |
NTD 5,000,000 (USD 170,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 5,000,000 (USD 170,000) |
|
Legal Representatives: |
Shihong Chen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
2012-10-26 |
Factories
|
1 |
|
|
Address: |
No. 2088, Section 4, Taiwan Boulevard Road, Taichung 407, Taiwan,
R.O.C. |
|
Date of Foundation: |
1972-8-16 |
|
Date of Registration: |
1973-9-30 |
|
Factory Registration Number: |
99670361 |
|
Factory Manager: |
Minghe
Huang |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
2014-3-4 |
|
Major Products: |
291
metal processing machinery 293
general machinery 319
Other unclassified transport machine and parts |
|
2 |
|
|
Name: |
Houli Casting
Factory |
|
Address: |
No.13, Wansheng Lane,
Guangfu Li Neidong Road, Houli District, Taichung City, Taiwan |
|
Telephone
Number: |
+886-4-2557-5533 |
|
Fax Number: |
+886-4-2557-2211 |
|
Date of Foundation: |
1985-6-28 |
|
Date of Registration: |
1986-1-6 |
|
Factory Registration Number: |
99636127 |
|
Factory Manager: |
Minghe
Huang |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
2002-6-3 |
|
Major Products: |
259
other metal products |
|
3 |
|
|
Name: |
Taichung
Industrial Factory |
|
Address: |
No.13, 11th
Road, Taichung Industrial Park, Taichung City, Taiwan |
|
Telephone
Number: |
+886-4-2359-0919 |
|
Fax Number: |
+886-4-2359-2425 |
|
Date of Foundation: |
1981-7-23 |
|
Date of Registration: |
1989-5-24 |
|
Factory Registration Number: |
99670210 |
|
Factory Manager: |
Minghe
Huang |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
1989-5-24 |
|
Major Products: |
292
other special-purpose mechanical device 269
other electronic components |
|
4 |
|
|
Name: |
Lugang Plant |
|
Address: |
No.5, 6th
Logong South Road, Dongshi Li, Lugang Town, Changhua County, Taiwan |
|
Telephone
Number: |
+886-47-813633 |
|
Fax Number: |
+886-47-813630 |
|
Date of Registration: |
2010-4-14 |
|
Factory Registration Number: |
99681147 |
|
Factory Manager: |
Minghe
Huang |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
2010-4-14 |
|
Major Products: |
291
metal processing machinery 254
metal processing |
Major Related Companies
|
1 |
|
|
Name: |
Zhong Tai Precision
Machinery (Tianjin) Co., Ltd. |
|
Address: |
No.16, Economic
And Technical Development Zone 4th Street, Tianjin City, China |
|
Telephone
Number: |
+86-22-2532-1592 |
|
Fax Number: |
+86-22-2532-2805 |
|
2 |
|
|
Name: |
Zhong Tai Precision
Machinery (Tianjin) Co., Ltd. |
|
Address: |
No.2, Jianye 1st
Road, East Zone, Guangzhou Economic And Technical Development Zone, Guangzhou
City, Guangdong Province, China |
|
Telephone
Number: |
+86-20-8226-4885 |
|
Fax Number: |
+86-20-8226-4861 |
Core
Management
Directors
|
1 |
|
|
Name |
Minghe Huang |
|
Position |
Board Chairman/
Manager |
|
Date of
Appointment |
1997-12-1 |
|
2 |
|
|
Name |
Meixing Lu |
|
Position |
Deputy Chairman |
|
3 |
|
|
Name |
Dechuan Liao |
|
Position |
Director |
|
4 |
|
|
Name |
Shihua Qiu |
|
Position |
Director |
|
5 |
|
|
Name |
Shihong Chen |
|
Position |
Director |
|
6 |
|
|
Name |
Yiying Huang |
|
Position |
Director |
|
7 |
|
|
Name |
Wenzhi Xu |
|
Position |
Director |
|
8 |
|
|
Name |
Tingyun Huang |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Canhui Chen |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 850 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
1F, No.266, Sec.3, Taichung Kan Road, Taichung, Taiwan, R.O.C. |
l
Subject is engaged in manufacturing of
machining centers, etc.
l
Subject has factories in Taiwan for
production.
l
Subject obtained the certifications of ISO
9001 and ISO 14001.
Purchase
Information
l
The registered activities of subject:
|
Business
Code |
Details |
|
-- |
Manufacturing and sales of precision high speed
lathe, computerized numerical control lathe, mvery singleining center |
|
-- |
Manufacturing and sales of injection molding
machine |
|
-- |
Manufacturing and sales of all kinds of rubber
machinery |
|
-- |
Manufacturing and sales of all kinds of valves |
|
-- |
Manufacturing and sales of all kinds of metal
plate |
|
-- |
Manufacturing and sales of all kinds of aviation
equipment parts |
|
-- |
Manufacturing and sales of all kinds of
electronic machinery and equipment |
|
-- |
Manufacturing and sales of all kinds of machinery
parts |
|
-- |
Import and export of above items and its related
parts |
|
-- |
Purchasing of raw materials for its related
company in foreign countries |
|
-- |
Import of its related company products in foreign
countries |
|
-- |
As agent and marketing of all kinds of above
mentioned items. |
|
-- |
Import and export of building materials and
construction machinery |
|
CA04010 |
Metal surface treatment business |
|
CB01010 |
Manufacturing of machinery |
|
CC01080 |
Manufacturing of electronic components |
|
E301010 |
Water treatment engineering business |
|
J101040 |
Waste disposal business |
|
F401010 |
International trade business |
|
F401021 |
Import of Rf equipment controlled by
telecommunications regulation |
l
The components for production are
purchased from both home and abroad.
l
It is introduced that subject imports
technology from Japan and Germany, etc.
l
Subject is engaged in sales of
machining centers, etc.
l
The major products sold by subject
include CNC machine center, vertical machine centre and horizontal machining
center.
l
Subject’s sales regions include Taiwan,
mainland China, other Asian countries, Europe, South Africa, and America, etc.
l
It is introduced that subject has
technical support and distribution centers in USA, UK, France, German, South
Africa, Malaysia, Thailand, and China.
l
Subject has their own brands “VICTORY”
and “FORTUNE”.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
L/C, T/T, etc |
100% |
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Machines |
Cash, T/T,
Credit Sale, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Machines |
L/C, T/T, etc |
100% |
Unit: NTD/000
|
Date |
2013-6-30 |
2012-6-30 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
208,158.00 |
521,277.00 |
|
Available-for-sale financial assets - current |
5,672.00 |
4,699.00 |
|
Notes receivable - net |
164,929.00 |
145,211.00 |
|
Notes receivable - related parties - net |
69,245.00 |
88,642.00 |
|
Accounts receivable - net |
401,998.00 |
472,293.00 |
|
Accounts receivable - related parties - net |
677,135.00 |
794,606.00 |
|
Other receivables - related parties |
179,436.00 |
99,789.00 |
|
Other financial assets - current |
37,165.00 |
38,728.00 |
|
Inventories |
1,393,267.00 |
1,571,904.00 |
|
Other current assets |
187,615.00 |
211,627.00 |
|
Current assets |
3,324,620.00 |
3,948,776.00 |
|
Funds and Investments |
|
|
|
Financial assets measured at fair value through
profit or loss - non current |
13,563.00 |
13,615.00 |
|
Equity investments under equity method |
448,544.00 |
438,059.00 |
|
Investments |
448,544.00 |
438,059.00 |
|
Funds and investments |
462,107.00 |
451,674.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
227,212.00 |
227,212.00 |
|
Land improvements |
5,884.00 |
5,884.00 |
|
Buildings and structures |
602,364.00 |
606,531.00 |
|
Machinery and equipment |
252,159.00 |
249,373.00 |
|
Transportation equipment |
45,511.00 |
44,795.00 |
|
Office equipment |
8,402.00 |
11,061.00 |
|
Leasing assets |
200,556.00 |
200,556.00 |
|
Other facilities |
103,777.00 |
112,366.00 |
|
Revaluation increment |
155,565.00 |
155,565.00 |
|
Cost and revaluation increment |
1,601,430.00 |
1,613,343.00 |
|
Accumulated depreciation |
-498,839.00 |
-441,191.00 |
|
Construction in process and prepayment for
equipments |
241.00 |
788.00 |
|
Fixed assets |
1,102,832.00 |
1,172,940.00 |
|
Intangible Assets |
|
|
|
Deferred pension costs |
0.00 |
0.00 |
|
Intangible assets |
0.00 |
0.00 |
|
Other Assets |
|
|
|
Assets leased |
190,869.00 |
197,439.00 |
|
Deferred expenses |
0.00 |
0.00 |
|
Long-term notes, account receivables - related
parties |
0.00 |
0.00 |
|
Deferred income tax assets - non current |
56,323.00 |
48,920.00 |
|
Other assets - other |
16,902.00 |
23,083.00 |
|
Other assets |
264,094.00 |
269,442.00 |
|
Assets |
5,153,653.00 |
5,842,832.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
250,000.00 |
229,112.00 |
|
Short-term notes and bills payable |
0.00 |
0.00 |
|
Accounts payable |
827,505.00 |
847,999.00 |
|
Accounts payable - related parties |
127,891.00 |
227,899.00 |
|
Income tax payable |
36,572.00 |
53,267.00 |
|
Accrued expenses |
168,924.00 |
223,867.00 |
|
Other accrued payables |
0.00 |
0.00 |
|
Long-term liabilities -current portion |
59,167.00 |
146,739.00 |
|
Other current liabilities |
99,649.00 |
111,437.00 |
|
Current liabilities |
1,569,708.00 |
1,840,320.00 |
|
Long-term Liabilities |
|
|
|
Long-term loans |
86,911.00 |
501,792.00 |
|
Long-term notes and accounts payable |
186,646.00 |
194,874.00 |
|
Long-term liabilities |
273,557.00 |
696,666.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
54,095.00 |
54,095.00 |
|
Reserves |
54,095.00 |
54,095.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
366,659.00 |
345,597.00 |
|
Other liabilities - other |
0.00 |
0.00 |
|
Other liabilities |
366,659.00 |
345,597.00 |
|
Liabilities |
2,264,019.00 |
2,936,678.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
1,100,000.00 |
1,100,000.00 |
|
Capital Surplus |
|
|
|
Capital surplus - share premium |
235,701.00 |
235,701.00 |
|
Capital surplus - treasury stock transactions |
1,253.00 |
1,253.00 |
|
Capital surplus - gain on sale of fixed assets |
2,142.00 |
2,142.00 |
|
Capital surplus - long-term investment |
14,003.00 |
14,003.00 |
|
Capital surplus |
253,099.00 |
253,099.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
382,893.00 |
382,893.00 |
|
Unappropriated retained earnings |
955,106.00 |
1,000,807.00 |
|
Retained earnings |
1,337,999.00 |
1,383,700.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
315,768.00 |
295,146.00 |
|
Net loss not recognized as pension cost |
-204,984.00 |
-212,570.00 |
|
Unrealized gains (losses) on financial
instruments |
4,299.00 |
3,326.00 |
|
Unrealized revaluation increments |
87,151.00 |
87,151.00 |
|
Treasury stock |
-3,698.00 |
-3,698.00 |
|
Stockholders' equity and other adjustment |
198,536.00 |
169,355.00 |
|
Stockholders‘ equity |
2,889,634.00 (USD 98,247,556.00) |
2,906,154.00 (USD 98,809,236.00) |
|
Number of treasury stock acquired by the company
and subsidiaries (unit: share) |
0.00 |
0.00 |
|
Equivalent shares of outstandings of advance
receipts for common stock (unit: share) |
0.00 |
0.00 |
(As of 2014.05, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
Date |
2012-7-1~2013-6-30 |
2011-7-1~2012-6-30 |
|
Sales |
2,078,912.00 |
2,757,398.00 |
|
Sales returns |
5,523.00 |
15,080.00 |
|
Sales |
2,073,389.00 (USD 70,495,226.00) |
2,742,318.00 (USD 93,238,812.00) |
|
Operating income |
2,073,389.00 |
2,742,318.00 |
|
Operating costs |
1,778,764.00 |
2,292,900.00 |
|
Gross profit (loss) from operations |
294,625.00 |
449,418.00 |
|
Unrealized gains on intercompany transactions |
0.00 |
0.00 |
|
Realized gains on intercompany transactions |
1,381.00 |
206.00 |
|
Selling expense |
172,640.00 |
261,015.00 |
|
General and administrative expenses |
59,992.00 |
69,135.00 |
|
Research and development expenses |
80,933.00 |
79,806.00 |
|
Operating expenses |
313,565.00 |
409,956.00 |
|
Operating income (loss) |
-17,559.00 |
39,668.00 |
|
Non-Operating Income |
|
|
|
Interest income |
960.00 |
608.00 |
|
Investment income |
0.00 |
0.00 |
|
Income from investments under the equity method |
0.00 |
0.00 |
|
Gains on sale of fixed assets |
0.00 |
0.00 |
|
Foreign exchange gains |
34,797.00 |
0.00 |
|
Rent income |
6,256.00 |
5,114.00 |
|
Miscellaneous income |
3,930.00 |
14,419.00 |
|
Non-operating revenues and gains |
45,943.00 |
20,141.00 |
|
Non-Operating Expenses |
|
|
|
Interest expenses |
6,267.00 |
6,653.00 |
|
Investment losses |
17,261.00 |
32,397.00 |
|
Foreign exchange loss |
0.00 |
20,712.00 |
|
Impairment loss on assets |
0.00 |
0.00 |
|
Miscellaneous disbursements |
3,286.00 |
2,448.00 |
|
Non-operating expenses and losses |
26,814.00 |
62,210.00 |
|
Income from continuing operations before income
tax |
1,570.00 |
-2,401.00 |
|
Income tax expense (benefit) |
14,901.00 |
26,579.00 |
|
Income from continuing operations |
-13,331.00 |
-28,980.00 |
|
Net income (loss) |
-13,331.00 (USD -453,254.00) |
-28,980.00 (USD -985320.00) |
(As of 2014.05, 1 NTD = 0.0340 USD)
Note: Since subject is not a public company now, we could just obtain the above financial information from public files for reference.
Subject declined to disclose its bank details; from other source we
cannot obtain the relevant information, either.
Mortgage
|
1 |
|
|
Case Type: |
Conditional Sale |
|
Certificate No.: |
027903 |
|
Debtor Name: |
Victor Taichung Machinery Works Co., Ltd. |
|
Document Number: |
09305084890 |
|
Date of Registration: |
2004-3-5 |
|
Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
097558 |
|
Debtor Name: |
Victor Taichung Machinery Works Co., Ltd. |
|
Document Number: |
09830449710 |
|
Date of Registration: |
2009-6-17 |
|
Name |
Ms. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.87 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.