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Report No. : |
335910 |
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Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
FAIR FRIEND ENTERPRISE CO., LTD. |
|
|
|
|
Registered Office : |
No.186, Yongji Rd., Sinyi District, Taipei
City 110, Taiwan (R.O.C.) |
|
|
|
|
Country : |
Taiwan |
|
|
|
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Date of Incorporation : |
15.03.1979 |
|
|
|
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Com. Reg. No.: |
30878408 |
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|
|
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Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Manufacturing and Sales of CNC Machine
Tools. |
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|
|
|
No. of Employees : |
About 300 |
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 |
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Payment Behaviour : |
No Complaints |
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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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Taiwan |
A1 |
A1 |
|
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. 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. However, follow-on components of the ECFA, including a signed agreement on trade in services and negotiations on trade in goods and dispute resolution, have stalled. In early 2014, the government bowed to public demand and proposed a new law governing the oversight of cross-Strait agreements, before any additional deals with China are implemented; the legislature has yet to vote on such legislation, leaving the future of ECFA up in the air as President MA enters his final full year in office. MA has portrayed ECFA as Taiwan’s key to greater participation in East Asia’s free trade networks.
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 expected to account for nearly 20% of the island's total population by 2025.
The island runs a trade surplus, largely because of its surplus with China, and its foreign reserves are the world's fifth largest, behind those of China, Japan, Saudi Arabia, 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, the Taiwan Central Bank signed a memorandum of understanding (MOU) 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 has helped Taiwan develop into a local RMB hub.
Closer economic links with the mainland bring greater opportunities for Taiwan’s economy but also pose new challenges as the island becomes more economically dependent on China at a time when political differences remain unresolved. During 2014, the press paid increasing attention to domestic economic issues, while pushing aside the debates over trade liberalization that were a hallmark of MA’s tenure. The media focused on the divide between Taiwan’s “haves” and “have nots,” providing extensive coverage of public frustration with stagnant wages, skyrocketing housing prices, and the difficulty of finding decent entry-level jobs.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
|
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Trading Address: |
No.186, Yongji
Rd., Sinyi District, Taipei City 110, Taiwan (R.O.C.) |
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Supplied Address: |
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|
Telephone Number: |
+886-2-2763-9696 |
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Fax Number: |
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E-mail: |
Notes: The exact name and address are as above. The
supplied address belongs to one of subject’s factories.
Subject was incorporated
on 1979-03-15 with registered number 30878408
as Joint Stock Company in Taiwan.
Factories
|
1 |
|
|
Name: |
Ri Nan Factory |
|
Address: |
1F., No.33, Youshi Rd., Rinan Li, Dajia Dist., Taichung City, Taiwan
(R.O.C.) |
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Date of Registration: |
2014-07-25 |
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Factory Registration Number: |
66002902 |
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Factory Manager: |
Yuwei Zhu |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-07-25 |
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Major Products: |
259 Other metal products |
|
2 |
|
|
Name: |
Taichung Factory |
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Address: |
No.5, Gong 7th Rd., Rinan Li, Dajia Dist., Taichung City, Taiwan
(R.O.C) |
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Date of Foundation: |
1994-05-26 |
|
Date of Registration: |
1993-08-09 |
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Factory Registration Number: |
99635024 |
|
Factory Manager: |
Yuwei Zhu |
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Status: |
In Production |
|
Date of Last Annual Return: |
2006-3-27 |
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Major Products: |
293 General machinery equipment 289 Other electrical equipment |
|
3 |
|
|
Name: |
Taichung 1st Factory |
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Address: |
No.133, Gongyequ 1st Rd., Xitun Dist., Taichung City, Taiwan (R.O.C.) |
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Date of Foundation: |
1987-01-10 |
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Date of Registration: |
1991-06-27 |
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Factory Registration Number: |
99669142 |
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Factory Manager: |
Yuwei Zhu |
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Status: |
In Production |
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Date of Last Annual Return: |
2006-03-16 |
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Major Products: |
259 Other metal products 293 General machinery equipment 252 Metal structures and building parts 291 Metal processing machinery equipment 292 Other special-purpose mechanical device 271 Computer and peripheral equipment 281 Power equipment, transmission equipment and distribution equipment |
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4 |
|
|
Name: |
Jing Mi Factory |
|
Address: |
No.12, Jingke Rd., Nantun Dist., Taichung City, Taiwan (R.O.C.) |
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Date of Registration: |
2014-12-12 |
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Factory Registration Number: |
66003299 |
|
Factory Manager: |
Yuwei Zhu |
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Status: |
In Production |
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Date of Last Annual Return: |
2014-12-12 |
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Major Products: |
251 Metal hand tools and molds |
Branch
|
Name |
Taichung Branch |
|
Address: |
No.133, Gongyequ 1st Rd., Xitun Dist., Taichung City, Taiwan (R.O.C) |
|
Registration Number: |
97177643 |
|
Date of Registration: |
1997-03-15 |
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Status: |
Live |
|
Manager Name: |
Yuwei Zhu |
|
Date of Last Annual Return: |
2006-02-21 |
|
Name |
Subscription Shares |
|
Yuwei Zhu |
4,873,079 |
|
Ziti Wang |
2,733,926 |
|
Xunv Zhu |
980,028 |
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Fairskq (Taiwan) Co., Ltd. |
168,531 |
|
Lisheng Li |
588,372 |
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Registered Name: |
Fairskq (Taiwan) Co., Ltd. |
|
Registered Address: |
No.186, Yongji Rd., Sinyi District, Taipei
City 110, Taiwan (R.O.C.) |
|
Date of Foundation: |
1988-11-09 |
|
Registration Number: |
23167311 |
|
Registry: |
Taipei City Government |
|
Legal Representatives: |
Yuwei Zhu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2015-07-06 |
Core Management
Directors
|
1 |
||
|
Name |
Yuwei Zhu |
|
|
Position |
Board Chairman & Manager |
|
|
Date of Appointment for Manager |
2006-01-10 |
|
|
2 |
||
|
Name |
Ziti Wang |
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Position |
Director |
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|
3 |
||
|
Name |
Xunv Zhu |
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|
Position |
Director |
|
|
4 |
||
|
Name |
Fairskq (Taiwan) Co., Ltd. |
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|
Position |
Director |
|
|
5 |
||
|
Name |
Lisheng Li |
|
|
Position |
Supervisor |
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Personnel Structure
|
Total Employees |
About 300 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.186, Yongji Rd., Sinyi District, Taipei
City 110, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of CNC machine tools.
Subject has factories in Taichung City, Taiwan for production.
Subject obtained the certification of ISO 9002 and ISO 14001.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of machinery |
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CB01990 |
Manufacturing of other machines |
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E603050 |
automatic control equipment engineering |
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E604010 |
Machinery installation |
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F113010 |
Wholesale of machinery |
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F213080 |
Retailing of mechanical appliance |
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F113990 |
Wholesale of other mechanical appliance |
|
F213990 |
Retailing of other mechanical appliance |
|
CA02010 |
Manufacturing of metal structures and building components |
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CA02050 |
Manufacturing of valves |
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CA02060 |
Manufacturing of metal containers |
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CA02990 |
Manufacturing of other metal products |
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F106010 |
Wholesale of hardware |
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F206010 |
Retailing of hardware |
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CC01010 |
Manufacturing of power equipment, transmission equipment and
distribution equipment |
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CD01060 |
Manufacturing of aircraft and components |
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CP01010 |
Manufacturing of hand tool |
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CC01030 |
Manufacturing of electric appliance and audio-visual product |
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CC01080 |
Manufacturing of electronic components |
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CC01090 |
Manufacturing of battery |
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CC01990 |
Manufacturing of other electrical machine and electro-mechanical
devices |
|
E601020 |
Electric appliance installation |
|
JA02010 |
Repair of electric appliance and electronic products |
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F113020 |
Wholesale of electric appliance |
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F213010 |
Retailing of electric appliance |
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F119010 |
Wholesale of electronic material |
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F219010 |
Retailing of electronic material |
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F113110 |
Wholesale of battery |
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F213110 |
Retailing of battery |
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CE01010 |
Manufacturing of general instrument |
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F113030 |
Wholesale of precise instrument |
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F213040 |
Retailing of precise instrument |
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CC01110 |
Manufacturing of computer and peripheral equipment |
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E605010 |
Computer installation |
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I301010 |
Software service |
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F113050 |
Wholesale of computer and office equipment |
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F213030 |
Retailing of computer and office equipment |
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CD01030 |
Manufacturing of automobile and components |
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CD01040 |
Manufacturing of motor and components |
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F114010 |
Wholesale of automobile |
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F214010 |
Retailing of automobile |
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F114030 |
Wholesale of automobile and motor components |
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F214030 |
Retailing of automobile and motor components |
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F114990 |
Wholesale of other transportation equipment and components |
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F214990 |
Retailing of other transportation equipment and components |
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E603040 |
Fire-fighting equipment installation engineering |
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IF01010 |
Fire-fighting equipment maintenance |
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F117010 |
Wholesale of fire-fighting equipment |
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F217010 |
Retailing of fire-fighting equipment |
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F107170 |
Wholesale of industrial auxiliaries |
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F207170 |
Retailing of industrial auxiliaries |
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F107200 |
Wholesale of chemical raw materials |
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F207200 |
Retailing of chemical raw materials |
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F107990 |
Wholesale of other chemical products |
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F207990 |
Retailing of other chemical products |
|
F112040 |
Wholesale of petroleum product |
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F212050 |
Retailing of petroleum product |
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F401010 |
International trade business |
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H701010 |
Leasing and development of residence and building |
|
H701020 |
Leasing and development of industrial premises |
|
H701040 |
Development of specific area |
|
H701050 |
Public construction investment |
|
H701060 |
Development of new town and community |
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G202010 |
Parking lot operation |
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E603020 |
Elevator installation |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The components and raw materials for production are purchased from both
home and abroad.
It is introduced that subject imports
technology from Japan and USA, etc.
Subject is engaged in sales of machinery.
The major products are CNC lathe, CNC horizontal boring & milling
machine, CNC bed type universal milling machine, machining center, drilling
& tapping center, double column machining center, PCB routing machine, PCB
drilling machine, laser drilling machine, fork lift truck and elevator.
It is introduced that subject has its own brand “FEELER”.
Subject’s sales regions include domestic market, Southeast Asia, America
and Europe.
The general delivery lead time of subject is about 60 days.
Subject’s major customers are Methods Machine Tools Inc., Gulf Bearing,
Akira Seiki USA Inc..
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials and components |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials and components |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
CNC machine tools |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
CNC machine tools |
|
Selling Terms |
L/C, T/T |
Subject has no obligations to disclose its
financial statements to the third party according to the relevant policy in
Taiwan and the only source from which we can obtain the information is the
subject itself.
Subject’s relevant staff declined to disclose its
financials citing the grounds of company’s confidentiality; from other sources
we could not obtain such information, either.
|
Name |
Mega International Commercial Bank |
Mortgage
|
Case Type: |
Chattel Mortgage |
|
File No.: |
10431019150 |
|
Debtor Name: |
Fair Friend Enterprise Co., Ltd. |
|
Date of Registration: |
2015-05-08 |
Lawsuit
|
2009, Beijian, 8659 |
|
|
Date of Trial: |
2009-06-08 |
|
Reason: |
Notes payable |
|
Claimant: |
Fair Friend Enterprise Co., Ltd. |
|
Defendant: |
Ding Sheng Construction Co., Ltd. (Literal
Translation) |
Interview Details
|
Name |
Ms. Peng |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.17 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.