SUPPLEMENTARU REPORT
|
Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
TTY BIOPHARM COMPANY LIMITED |
|
|
|
|
Registered Office : |
3F., No.3-1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
22.07.1960 |
|
|
|
|
Com. Reg. No.: |
11821341 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and
sale of cytotoxic products |
|
|
|
|
No. of Employees : |
380 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
3F., No.3-1, Park St., Nangang Dist., Taipei City 11503, Taiwan R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2652-5999 |
|
Email: |
Notes: The exact
name and address are as above.
Subject
was incorporated on 1960-7-22 with registered number 11821341 as Joint Stock Company in Taiwan.
Subject is listed on Taiwan Exchange Stock on 2001-9-27.
Change of Name
|
Former English Name: |
Taiwan Tung Yang
Chemical Industries Co., Ltd. |
|
Current English Name: |
TTY Biopharm
Company Limited |
Factories
|
1 |
|
|
Name: |
Zhong Li Factory |
|
Address: |
No. 838, Sec. 1, Zhonghua Rd., Zhongli City, Taoyuan Country, Taiwan |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1969-9-23 |
|
Factory Registration Number: |
99621137 |
|
Factory Manager: |
Yingjun Xiao |
|
Status: |
In production |
|
Date of Last
Annual Return: |
2014-7-18 |
|
Major Products: |
089 Other food 194 Cosmetics |
|
2 |
|
|
Address: |
5F, No. 124 and 5F, No. 118, Xingshan Rd., Huyuanli, Neihu Dist., Taipei City, Taiwan |
|
Date of Registration: |
2007-12-13 |
|
Factory Registration Number: |
63022047 |
|
Factory Manager: |
Yingjun Xiao |
|
Status: |
In production |
|
Date of Last Annual
Return: |
2014-7-25 |
|
Major Products: |
200 Medical Equipment & Product |
|
3 |
|
|
Name: |
Six Du Factory |
|
Address: |
No. 5, Gongjian W. Rd., Qidu Dist., Jilong City, Taiwan |
|
Date of Registration: |
2010-12-31 |
|
Factory Registration Number: |
17000005 |
|
Factory Manager: |
Yingjun Xiao |
|
Status: |
In production |
|
Date of Last
Annual Return: |
2014-8-1 |
|
Major Products: |
200 Medical Equipment & Product |
Branch
|
Name |
Tty Biopharm Company Limited Taipei Branch |
|
Registration Number |
16094448 |
|
Registration Address |
16F, No.237, Sungjiang Rd., Jungshan Chiu, Taipei, Taiwan |
|
Date of Registration |
1997-10-3 |
|
Status |
Live |
|
Manager Name |
Yingjun Xiao |
|
Date of Last Annual Return |
2002-10-15 |
Major Shareholders
|
Name |
Subscription Shares |
|
Big Bay Technology Co., Ltd (Literal Translation) |
21,124,732 |
|
Wenhua Zhang |
|
|
3,316,596 |
|
|
Tianci Zeng |
3,346 |
|
Royal Foods Co., Ltd. |
2,334,945 |
|
Xiuji Zhang |
2,143,686 |
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Big Bay Technology
Co., Ltd (Literal Translation) |
|
Registered
Address: |
14F, No. 66,
Minquan E. Rd., Zhongshan Dist., Taipei City, Taiwan |
|
Date of
Foundation: |
2001-8-9 |
|
Registration Number: |
12937432 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
NTD 3,365,000 (USD
111,381.5) (As of 2014.09, 1
NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 3,365,000 (USD
111,381.5) |
|
Legal
Representatives: |
Yingjun Xiao |
|
Legal Form: |
Joint Stock
Company |
|
Date of Last
Annual Return: |
2013-1-2 |
|
2 |
|
|
Registered Name: |
Royal Foods Co., Ltd. |
|
Registered
Address: |
7F, 3-2, Yuanqu
Street, Nangang Dist., Taipei City, Taiwan |
|
Date of
Foundation: |
1989-3-4 |
|
Registration
Number: |
23279224 |
|
Registry: |
Taipei City
Government |
|
Registered
Capital: |
NTD 60,000,000
(USD 1,986,000) (As of 2014.09, 1
NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 22,000,000
(USD 728,200) |
|
Legal
Representatives: |
Rongjin Lin |
|
Legal Form: |
Joint Stock
Company |
|
Date of Last
Annual Return: |
2013-7-16 |
Core Management
Directors
|
1 |
||
|
Name |
Yingjun Xiao |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Wenhua Zhang |
|
|
Position |
Vice Chairman |
|
|
3 |
||
|
Name |
Quan Lin |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Tianci Zeng |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Rongjin Lin |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Xiuji Zhang |
|
|
Position |
Supervisor |
|
|
7 |
||
|
Name |
Yingying Liao |
|
|
Position |
Supervisor |
|
|
8 |
||
|
Name |
Junhong Chen |
|
|
Position |
Supervisor |
|
|
9 |
||
|
Name |
Rongjin Lin |
|
|
Position |
Manager |
|
|
Date of Appointment |
1995-8-4 |
|
Personnel Structure
|
Total Employees |
About 380 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
3F., No.3-1, Park St., Nangang Dist., Taipei City 11503, Taiwan R.O.C. |
Production Information
Subject is engaged in manufacturing of cytotoxic products, etc.
Subject has factories in Taiwan for production.
The manufacturing capacity of the subject are as follows:
|
Products |
Manufacturing capacity |
|
Cytotoxic Products (Zhongli Factory) |
Liquid injections 300,000 units/Yr Liposome injections 460,000 units/Yr Capsules 20 million units/Yr |
|
Non-cytotoxic Products (Lioudu Factory) |
Liquid injections 1~5 million units/Yr Lyophilized injections 0.3~1.5 million units/Yr Liposome injections 0.3~0.5 million units/Yr Injections 1~2 million units/Yr Tablets 360~700 million units/Yr Capsules 100~200 million units/Yr |
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Basic chemical industry |
|
C802041 |
Western medicine manufacturing industry |
|
C802060 |
Animal drug manufacturing industry |
|
C802070 |
Pesticide manufacturing industry |
|
C802080 |
Environmental medicine manufacturing industry |
|
C802100 |
Cosmetics manufacturing industry |
|
C804020 |
Industrial rubber products manufacturing industry |
|
C804990 |
Other rubber products manufacturing industry |
|
C901020 |
Glass and glass products manufacturing industry |
|
CF01011 |
Medical device manufacturing industry |
|
F102170 |
Miscellaneous goods and food wholesale industry |
|
F108021 |
Western medicine wholesale industry |
|
F108031 |
Medical equipment wholesale industry |
|
F203010 |
Miscellaneous goods, food and beverage retail industry |
|
F208021 |
Western medicine retail industry |
|
F208031 |
Medical equipment retail industry |
|
IG01010 |
Biological technology services |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The raw materials for production are both purchased at home and abroad.
Subject is engaged in sale of cytotoxic products, etc.
The major products of the subject include cytotoxic products, non-cytotoxic products, and clinical supplies and so on.
It is introduced that subject is focusing on the development of anti-cancer biotechnologies, etc.
Subject’s sales regions include domestic market and abroad.
It is introduced that subject’s group has many related companies and offices in Asia, Europe, Africa and America, etc. but we cannot obtain the detail information.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Sales
Domestic Markets
|
Product |
Cytotoxic products,
etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Cytotoxic
products, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash and cash equivalents |
245,012.00 |
209,924.00 |
|
Notes receivable - net |
38,273.00 |
35,659.00 |
|
Accounts receivable - related parties - net |
24.00 |
105.00 |
|
Accounts receivable - net |
514,281.00 |
516,174.00 |
|
Accounts receivable - related parties - net |
8,906.00 |
14,278.00 |
|
Other receivables |
57,343.00 |
28,713.00 |
|
Inventories |
406,252.00 |
418,701.00 |
|
Other current assets |
50,974.00 |
83,738.00 |
|
Current assets |
1,321,065.00 |
1,307,292.00 |
|
Financial assets measured by cost-non current |
0.00 |
15,919.00 |
|
Equity method long term investment |
2,356,591.00 |
1,976,422.00 |
|
cash surrender value of life insurance |
10,579.00 |
4,263.00 |
|
Prepayment of long term investment |
167,986.00 |
16,000.00 |
|
Investment |
2,535,156.00 |
1,996,685.00 |
|
Other financial assets – non current |
3,592.00 |
4,397.00 |
|
Funds and investments |
2,538,748.00 |
2,017,001.00 |
|
Land |
654,315.00 |
654,315.00 |
|
Buildings and structures |
535,961.00 |
521,620.00 |
|
Machinery and equipment |
250,125.00 |
231,115.00 |
|
Transportation equipment |
4,287.00 |
4,287.00 |
|
Office equipment |
271,081.00 |
226,213.00 |
|
Leasehold improvement |
11,207.00 |
11,207.00 |
|
Appraisal increment |
107,796.00 |
107,796.00 |
|
Cost and appraisal increment |
1,834,772.00 |
1,756,553.00 |
|
Accumulated depreciation |
-405,493.00 |
-349,624.00 |
|
Construction in process and prepayment for equipment |
175,425.00 |
57,966.00 |
|
Fixed assets net |
1,604,704.00 |
1,464,895.00 |
|
Other intangible Assets |
18,930.00 |
29,842.00 |
|
Intangible Assets |
18,930.00 |
29,842.00 |
|
Leasing assets |
202,575.00 |
204,237.00 |
|
14,527.00 |
13,748.00 |
|
|
Deferred expenses |
27,363.00 |
22,679.00 |
|
Other assets |
244,465.00 |
240,664.00 |
|
Assets |
5,727,912.00 (USD 189,593,887.20) |
5,059,694.00 (USD 167,475,871.40) |
|
Short term borrowing |
1,495,000.00 |
1,605,000.00 |
|
Changes in fair value included in the profits and losses of the financial liability-current |
0.00 |
766.00 |
|
Notes payable |
31,628.00 |
39,670.00 |
|
Notes payable-related parties |
0.00 |
932.00 |
|
Account payable |
77,762.00 |
114,631.00 |
|
Account payable-related parties |
5,836.00 |
6,744.00 |
|
Income tax-payable |
48,672.00 |
55,885.00 |
|
Expenses payable |
333,322.00 |
302,837.00 |
|
Other current liabilities |
32,605.00 |
31,601.00 |
|
Current liabilities |
2,024,825.00 |
2,158,066.00 |
|
Land value-added tax preparation |
60,871.00 |
60,871.00 |
|
Capital reserves |
60,871.00 |
60,871.00 |
|
Pension reserve / accrued pension liability |
37,943.00 |
38,278.00 |
|
Deferred income tax |
74,186.00 |
68,964.00 |
|
Other liabilities-other |
27,259.00 |
13,453.00 |
|
Other liabilities |
139,388.00 |
120,695.00 |
|
Liabilities |
2,225,084.00 |
2,339,632.00 |
|
Common stock |
2,139,913.00 |
1,725,736.00 |
|
Capital reserves-share premium account |
484.00 |
484.00 |
|
Capital reserves-long term investment |
431,835.00 |
118,715.00 |
|
Capital reserves-consolidation excess |
28.00 |
28.00 |
|
Capital reserves-others |
7,809.00 |
3,382.00 |
|
Capital reserves |
440,156.00 |
122,609.00 |
|
Legal reserve |
291,570.00 |
239,363.00 |
|
Inappropriate retained earnings |
546,366.00 |
522,200.00 |
|
Retained earnings |
837,936.00 |
761,563.00 |
|
Cumulative translation adjustment |
57,098.00 |
82,429.00 |
|
Unrealized Revaluation Increment |
27,725.00 |
27,725.00 |
|
Stockholders‘ equity and other adjustment |
84,823.00 |
110,154.00 |
|
Stockholders‘ equity |
3,502,828.00 (USD 115,943,606.80) |
2,720,062.00 (USD 90,034,052.20) |
|
Number of treasury stock acquired by the company and subsidiaries (unit: share) |
0.00 |
0.00 |
(As of 2014.09, 1 NTD = 0.0331 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
2,149,560.00 (USD 71,150,436.00) |
2,075,824.00 (USD 68,709,774.40) |
|
Sales return |
2,503.00 |
4,568.00 |
|
Sales discounts |
10,765.00 |
7,162.00 |
|
Sales net income |
2,136,292.00 |
2,064,094.00 |
|
Total labor income |
22,233.00 |
2,934.00 |
|
Operating income |
2,158,525.00 |
2,067,028.00 |
|
Operating costs |
793,679.00 |
806,047.00 |
|
Gross profit (loss) from operations |
1,364,846.00 |
1,260,981.00 |
|
Affiliate companies unrealized profits |
16,699.00 |
6,991.00 |
|
Affiliate companies realized profits |
17,034.00 |
9,593.00 |
|
Sale expenses |
599,227.00 |
592,524.00 |
|
General and administrative expenses |
198,996.00 |
211,184.00 |
|
Research and development expenses |
366,754.00 |
378,602.00 |
|
Operating expenses |
1,164,977.00 |
1,182,310.00 |
|
Operating income (loss) |
200,204.00 |
81,273.00 |
|
Interest income |
1,131.00 |
1,041.00 |
|
Investment income |
176,473.00 |
305,530.00 |
|
Investment income of equity method |
176,473.00 |
305,530.00 |
|
Gains on sale of investments |
174,021.00 |
100,832.00 |
|
Financial assets evaluation |
0.00 |
330.00 |
|
Miscellaneous income |
102,683.00 |
136,277.00 |
|
Non-operating revenues and gains |
454,308.00 |
544,010.00 |
|
Interest expense |
16,259.00 |
13,214.00 |
|
Loss on exchange |
56.00 |
1,165.00 |
|
Financial assets evaluation loss |
239.00 |
0.00 |
|
Miscellaneous expenses |
1,899.00 |
2,000.00 |
|
Non-operating expenses and losses |
18,453.00 |
16,379.00 |
|
Net pre-tax profit (loss) of continue to business units |
636,059.00 |
608,904.00 |
|
Income tax expense (benefit) |
93,737.00 |
86,828.00 |
|
Net interest (loss) from continuing operations |
542,322.00 |
522,076.00 |
|
Net income (loss) |
542,322.00 |
522,076.00 |
|
Profit (loss) of continue to business units |
2.53 |
3.03 |
|
Primary Earnings per Share |
2.53 |
3.03 |
|
Diluted earnings per share |
2.53 |
3.02 |
(As of 2014.09, 1 NTD = 0.0331 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
542,322.00 |
522,076.00 |
|
|
61,138.00 |
53,721.00 |
|
|
18,145.00 |
18,163.00 |
|
|
Bad debt expense item number (income) |
0.00 |
-6,548.00 |
|
Obsolete stocks, Scrap and dull loss (back) |
2,451.00 |
21,051.00 |
|
-176,473.00 |
-305,530.00 |
|
|
Received the equity method investment company cash dividend |
60,997.00 |
8,556.00 |
|
Disposition and discard fixed assets losses (interest) |
-310.00 |
542.00 |
|
Fixed assets transfer charge |
1,160.00 |
26.00 |
|
Dispose of investment losses (interests) |
-174,021.00 |
-100,832.00 |
|
Other adjustment |
0.00 |
76.00 |
|
Trading financial assets (increase) decrease |
-766.00 |
773.00 |
|
Notes receivable (increase) decrease |
-2,347.00 |
20,860.00 |
|
Accounts receivable (increase) decrease |
7,079.00 |
-133,921.00 |
|
Decrease (increase) in other accounts receivable |
-29,148.00 |
13,943.00 |
|
9,998.00 |
-57,907.00 |
|
|
16,727.00 |
-46,809.00 |
|
|
Decrease (increase) in other financial assets |
805.00 |
-1,517.00 |
|
Increase (decrease) in notes payable |
-8,975.00 |
-29,593.00 |
|
Increase (Decrease) in Accounts Payable |
-37,777.00 |
81,256.00 |
|
Increase (Decrease) in Income Tax Payable |
-7,213.00 |
-5,507.00 |
|
Increase (Decrease) in Other Payable |
30,485.00 |
54,917.00 |
|
Increase (Decrease) in current liabilities |
1,229.00 |
-14,148.00 |
|
Increase (Decrease) in deferred income tax liabilities |
26,447.00 |
39,566.00 |
|
Increase (Decrease) in pension liability |
-335.00 |
-302.00 |
|
Increase (Decrease) deferred credit |
-1,345.00 |
6,612.00 |
|
Net Cash Provided by (Used in) Operating Activities |
340,273.00 |
139,524.00 |
|
Cash flow of investment |
|
|
|
Discipline Financial Assets for Sale Price |
160,581.00 |
4,475.00 |
|
Increase in Equity Method Long Term Stock Equity Investment |
-169,290.00 |
-326,075.00 |
|
Increase in Equity Method Long Term Stock Equity Investment Price |
84,517.00 |
157,475.00 |
|
Acquisition of fixed assets |
-203,886.00 |
-725,171.00 |
|
Discipline Fixed Assets Amount |
1,315.00 |
1,774.00 |
|
Refundable deposit increase or decrease |
-779.00 |
42,470.00 |
|
Increase in deferred expenses |
-9,705.00 |
-2,151.00 |
|
Acquisition of intangible assets |
0.00 |
-7,648.00 |
|
Other investment |
-6,316.00 |
-2,131.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-143,563.00 |
-856,982.00 |
|
Cash flow of financial activities |
|
|
|
Increase (Decrease) in Short Term Borrowing |
-110,000.00 |
652,000.00 |
|
Increase (Decrease) in deposits received |
150.00 |
794.00 |
|
Cash dividends |
-51,772.00 |
-36,360.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-161,622.00 |
616,434.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
35,088.00 |
-101,024.00 |
|
Cash and Cash Equivalents, Beginning of year |
209,924.00 |
310,948.00 |
|
Cash and Cash Equivalents, End of year |
245,012.00 |
209,924.00 |
|
Interest Paid |
16,278.00 |
12,856.00 |
|
Interest Paid- Excluding Capitalized Interest |
16,278.00 |
12,856.00 |
|
Income Tax Paid |
74,346.00 |
52,770.00 |
|
Fixed assets increase |
203,661.00 |
726,539.00 |
|
Increase (Decrease) in accounts payable for buying equipment |
225.00 |
-1,368.00 |
|
Cash Paid for Buying Fixed Assets |
203,886.00 |
725,171.00 |
Subject declined to disclose its bank details; from other source we could not 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.
Interview Details
|
Name |
Ms. Wong |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
UK Pound |
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.