MIRA INFORM REPORT
|
Report No. : |
337140 |
|
Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
NORTH CHINA PHARMACEUTICAL CO., LTD. |
|
|
|
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Registered Office : |
No. 388 Heping East Road, Shijiazhuang, Hebei Province 050015 Pr |
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Country : |
China |
|
|
|
|
Financials (as on) : |
30.06.2015 |
|
|
|
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Date of Incorporation : |
25.08.1992 |
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|
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Com. Reg. No.: |
130000000008365 |
|
|
|
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Legal Form : |
Shares Limited Company |
|
|
|
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Line of Business : |
Manufacturing Injection, tablets, granules, bulk drugs, sterile bulk
drugs, hard capsules, soft capsules, suppositories, tinctures, powders,
solutions, eye drops, mixture, pills, oral liquid, oral liquid solvent, small
volume injection, psychotropic substances, hollow capsules, gels, lyophilized
powder for injection and large volume injection; manufacturing & selling
pharmaceutical intermediates, plant extracts; goods warehousing,
transportation; importing and exporting commodities and technology, excluding
the items prohibited or limited by the country; pharmaceutical and chemical
technology transfer, technology development, technical consulting services;
equipment cleaning, machinery and instruments installation, test &
maintenance; wholesaling & retailing food, packaging material, cosmetics,
office supplies, labor supplies, daily necessities, garments, building
materials, communication equipment, electronic products, plastic products,
auto parts, office furniture, lubricant, hardware, instruments, pharmaceutical
glass products, chemical reagent, mechanical
equipment, electrical machinery and spare parts; the operation of following
items are limited to branches: 6% kasugamycin WP, 47% kasugamycin copper Wang
WP, 2% kasugamycin agent, 40% carbendazim WP pyrimethanil, 72% agricultural
streptomycin sulfate soluble powder processing; production of pharmaceutical
materials; veterinary drugs sales; wholesaling Chinese
patent medicine, chemical crude drug and
their preparations, antibiotics bulk drugs & preparations, biological and
chemical drugs and biological products; retailing planning supplies, health
products, pharmaceutical intermediates, plant extracts; manufacturing
pharmaceutical glass, household glass products, industrial oxygen;
wholesaling & retailing pre-packaged food, chemical products, steel and
its products, aluminum and its products, paper, non-ferrous metals, coke;
domestic labor dispatch; R&D of Chinese medicine, Chinese and Western
medicine, biotechnology products, agricultural technology, veterinary
medicine and integrated technology. |
|
|
|
|
No. of Employees : |
13,390 |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. After keeping its currency tightly linked to the US dollar for years, in July 2005 China moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2014 stood as the largest economy in the world, surpassing the US that year... Still, per capita income is below the world average.
The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2014 more than 274 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development.
Several factors are converging to slow China's growth, including debt overhang from its credit-fueled stimulus program, industrial overcapacity, inefficient allocation of capital by state-owned banks, and the slow recovery of China's trading partners. The government's 12th Five-Year Plan, adopted in March 2011 and reiterated at the Communist Party's "Third Plenum" meeting in November 2013, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent in the future on fixed investments, exports, and heavy industry. However, China has made only marginal progress toward these rebalancing goals. The new government of President XI Jinping has signaled a greater willingness to undertake reforms that focus on China's long-term economic health, including giving the market a more decisive role in allocating resources. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
|
Source
: CIA |
Company
Name & address
NORTH CHINA PHARMACEUTICAL CO.,
LTD.
NO. 388 HEPING EAST ROAD, SHIJIAZHUANG
HEBEI PROVINCE 050015 PR CHINA
TEL: 86 (0)
311-85993999/85992039
FAX: 86 (0) 311-86060942
***Note: SC’s headquarters address should be the heading one, while its
sales office locates in the (No. 392 Heping East Road, Shijiazhuang, Hebei).
EXECUTIVE
SUMMARY
DATE OF REGISTRATION :
AUGUST 25, 1992
REGISTRATION NO. :
130000000008365
LEGAL FORM :
SHARES LIMITED COMPANY
CHIEF EXECUTIVE :
YANG HAIJING (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 1,630,804,729
STAFF :
13,390
BUSINESS CATEGORY :
MANUFACTURING & TRADING
REVENUE :
CNY 4,498,757,000 (CONSOLIDATED, JAN. 1 TO JUN. 30, 2015)
EQUITIES :
CNY 5,264,472,000 (CONSOLIDATED, AS OF JUN. 30, 2015)
WEBSITE :
WWW.NCPC.COM.CN
E-MAIL :
YANGHAIJING@NCPC.COM
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
FAIRLY GOOD
EXCHANGE RATE :
CNY 6.40 = USD 1
OPERATIONAL
TREND & GENERAL REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was established as a shares limited company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.:
130000000008365 on August 25, 1992.
SC’s Organization Code Certificate No.: 10439770-0
SC’s Tax No.: 130102104397700
SC’s registered capital: CNY 1,630,804,729
SC’s paid-in capital: CNY 1,630,804,729
Registration Change Record:-
|
Date |
Change of
Contents |
Before the
change |
After the change |
|
2004 |
Registered Capital |
CNY 1,169,394,189 |
CNY 761,909,302 |
|
2006 |
Registered Capital |
CNY 761,909,302 |
CNY 1,028,577,558 |
|
-- |
Registration No. |
1300001000509 |
130000000008365 |
|
2012-10 |
Registered Capital |
CNY 1,028,577,558 |
CNY 1,378,577,558 |
|
2014-5-13 |
Registered Capital |
CNY 1,378,577,558 |
CNY 1,630,804,729 |
|
2015-2-12 |
Legal Representative |
Wang Sheping 王社平 |
Yang Haijing 杨海静 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of
Shareholder (s) (As of June 30, 2015) |
% of
Shareholding |
|
Jizhong Energy Group Co., Ltd. |
36.93 |
|
North China Pharmaceutical Group Corporation |
14.64 |
|
Bank of China Co., Ltd.- ICBC Credit Suisse Healthcare Sector Equity
Securities Investment Fund |
1.49 |
|
Industrial and Commercial Bank of China- Huashang Quantitative
Flexible Configuration Hybrid Security Investment Fund |
0.82 |
|
Industrial and Commercial Bank of China- Huitianfu Healthcare Equity
Securities Investment Fund |
0.71 |
|
Haikou Jun’an Trade Co., Ltd. |
0.59 |
|
China Construction Bank Co., Ltd.- Huashang New Quantization Flexible
Configuration Hybrid Securities Investment Funds |
0.53 |
|
Agricultural Bank of China Co., Ltd.-Guotai Guozheng Health Care
Sector Index Classification Fund |
0.5 |
|
Li Xiangyu |
0.46 |
|
Wang Qing |
0.45 |
|
Other shareholders |
42.88 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Yang Haijing |
|
General Manager and Director |
Liu Wenfu |
|
Director |
Wang Guangji |
|
Wei Qingjie |
|
|
Wang Hui |
|
|
Wang Jinting |
|
|
Li Jiangtao |
|
|
Liu Guitong |
|
|
Wang Sheping |
|
|
Wang Hugen |
|
|
Wei Ling |
|
|
Director |
Yao Yunpeng |
|
Meng Ran |
|
|
Yang Wanming |
|
|
Wu Yuwen |
|
|
Xie Yanrui |
RECENT DEVELOPMENT
SC was listed in Shanghai Stock Exchange Market with the stock code
600812.
SHAREHOLDER CHART & BACKGROUND
Name (As of June
30, 2015) % of Shareholding
Jizhong Energy Group Co., Ltd. 36.93
North China Pharmaceutical Group Corporation 14.64
Bank of China Co., Ltd.- ICBC Credit Suisse Healthcare Sector Equity
Securities Investment Fund 1.49
Industrial and Commercial Bank of China- Huashang Quantitative Flexible
Configuration Hybrid Security Investment Fund 0.82
Industrial and Commercial Bank of China- Huitianfu Healthcare Equity
Securities Investment Fund 0.71
Haikou Jun’an Trade Co., Ltd. 0.59
China Construction Bank Co., Ltd.- Huashang New Quantization Flexible
Configuration Hybrid Securities Investment Funds 0.53
Agricultural Bank of China Co., Ltd.-Guotai Guozheng Health Care Sector
Index Classification Fund 0.5
Li Xiangyu 0.46
Wang Qing 0.45
Other shareholders 42.88
Jizhong Energy Group Co., Ltd.
-------------------------------------------
Registration No.: 130500000015140
Registered Capital: CNY 6,816,722,800
Legal Representative: Wang Sheping
Web: www.jznyjt.com
North China Pharmaceutical Group Corporation
----------------------------------------------------------------
North China Pharmaceutical Group Corp. (NCPC) is a leading
pharmaceutical manufacturer in China. NCPC’s main business covers: over 590
varieties, ranging from antibiotic bulks and formulations, vitamins and
nutrition products, biotech products, immunosuppressant, and pesticide to
veterinary drugs.
Registration no.: 130000000008902
Registered capital: CNY 1,345,646,500
Legal representative: Zhang Zhenen
Address: No. 388, Heping East Road, Shijiazhuang, Hebei Province
Tel: +86- 311-85993999
Fax: +86- 311-86672430
Website: www.ncpc.com.cn
MANAGEMENT
Yang Haijing, Legal Representative and Chairman
-----------------------------------------------------------------------------
Gender: M
Age: 44
Working experience (s):
From 2009 to present, working in SC as legal representative and chairman
Liu Wenfu , General Manager and Director
-------------------------------------------------------------------
Gender: M
Age: 53
Qualification: Master Degree
Working experience (s):
From 2009 to present, working in SC as general manager and director
Director
-----------
Wang Guangji
Wei Qingjie
Wang Hui
Wang Jinting
Li Jiangtao
Liu Guitong
Wang Sheping
Wang Hugen
Wei Ling
Supervisor
---------------
Yao Yunpeng
Meng Ran
Yang Wanming
Wu Yuwen
Xie Yanrui
BUSINESS OPERATION
SC’s registered business scope includes manufacturing Injection,
tablets, granules, bulk drugs, sterile bulk drugs, hard capsules, soft
capsules, suppositories, tinctures, powders, solutions, eye drops, mixture,
pills, oral liquid, oral liquid solvent, small volume injection, psychotropic
substances, hollow capsules, gels, lyophilized powder for injection and large
volume injection; manufacturing & selling pharmaceutical intermediates,
plant extracts; goods warehousing, transportation; importing and exporting
commodities and technology, excluding the items prohibited or limited by the
country; pharmaceutical and chemical technology transfer, technology development,
technical consulting services; equipment cleaning, machinery and instruments
installation, test & maintenance; wholesaling & retailing food,
packaging material, cosmetics, office supplies, labor supplies, daily
necessities, garments, building materials, communication equipment, electronic
products, plastic products, auto parts, office furniture, lubricant, hardware,
instruments, pharmaceutical glass products, chemical reagent, mechanical equipment, electrical machinery
and spare parts; the operation of following items are limited to branches: 6%
kasugamycin WP, 47% kasugamycin copper Wang WP, 2% kasugamycin agent, 40%
carbendazim WP pyrimethanil, 72% agricultural streptomycin sulfate soluble
powder processing; production of pharmaceutical materials; veterinary drugs
sales; wholesaling Chinese
patent medicine, chemical crude
drug and their preparations, antibiotics bulk drugs & preparations,
biological and chemical drugs and biological products; retailing planning supplies,
health products, pharmaceutical intermediates, plant extracts; manufacturing
pharmaceutical glass, household glass products, industrial oxygen; wholesaling
& retailing pre-packaged food, chemical products, steel and its products,
aluminum and its products, paper, non-ferrous metals, coke; domestic labor
dispatch; R&D of Chinese medicine, Chinese and Western medicine,
biotechnology products, agricultural technology, veterinary medicine and
integrated technology.
SC is mainly engaged in manufacturing and selling all kinds of
pharmaceutical products.
SC’s products mainly include: antibiotic bulks and formulations,
vitamins and nutrition products, biotech products, immunosuppressant, and
pesticide to veterinary drugs, etc.
SC sources its materials 70% from domestic market, mainly Hebei, and 30%
from overseas market. SC sells 80% of its products in domestic market, and 20%
to overseas market.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
*Major Suppliers*
==============
North China Pharmaceutical Sinowin Co., Ltd.
Yichang Three Gorges Quantong Coated and Galvanized Plate Co., Ltd.
Hebei Huaxu Pharmaceutical Co., Ltd.
*Major Customers*
==============
NCPC Sale Co., Ltd.
North China Pharmaceutical Kangxin Co., Ltd.
North China Pharmaceutical Group Semisyntech Co., Ltd.
Mayget Supply Co., Ltd.
Staff & Office:
--------------------------
SC is known to have approx. 13,390 staff at present.
SC owns an area as its operating office and factory, but the detailed
information is unknown.
RELATED COMPANY
Jizhong Energy Group Co., Ltd.
Jizhong Energy Resources Co., Ltd.
It was listed in Shenzhen Stock Exchange in 1999 with the stock code
000937.
Registration No.: 130000000009735
Date of Registration:
Legal Representative: Wang Sheping
SC is known to invest in the following companies:
North China Pharmaceutical Kangxin Co., Ltd.
Registration No.: 130000400001160
Date of Registration:
Legal Representative: Wang Wentao
Hebei Welcome Pharmaceutical Co., Ltd.
Registration No.: 130000400001119
Date of Registration:
Legal Representative: Zhou Xiaobing
Web: www.ncpcwelcome.com
NCPC Victor Co., Ltd.
Registration No.: 130000400002164
Incorporation Date:
Legal Representative: Zhou Xiaobing
Web: www.ncpcvictor.com
North China Pharmaceutical Huasheng Co., Ltd.
Registration No.: 130000400000589
Date of Registration:
Legal Representative: Zhang Tianbing
Web: www.ncpchs.com
North China Pharmaceutical Group Semisyntech Co., Ltd.
Registration No.: 130000000023532
Date of Registration:
Legal Representative: Liu Guitong
Web: www.semisyntech.com
North China Pharmaceutical Qinhuangdao Co., Ltd.
NCPC International Corp.
NCPC Sale Co., Ltd. (Literal Translation)
PAYMENT
Overall payment
appraisal: ( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment experience (through current enquiry with SC's
suppliers), our delinquent payment and our debt collection record concerning
SC.
Trade payment experience: SC’s suppliers declined to make any comments.
Delinquent payment record: None in our database.
Debt collection record: No overdue amount owed by SC was placed to us
for collection within the last 6 years.
BANKING
The bank information of SC is not filed in SAIC.
FINANCIALS
Consolidated Balance
Sheet
|
Unit: CNY’000 |
As of Dec. 31,
2014 |
As of Jun. 30,
2015 |
|
1,290,106 |
1,060,026 |
|
|
Accounts receivable |
1,414,729 |
1,484,644 |
|
Notes receivable |
271,013 |
223,245 |
|
Advances to suppliers |
162,094 |
290,621 |
|
Other receivable |
952,389 |
1,142,332 |
|
Inventory |
1,738,158 |
1,742,292 |
|
Non-current assets due with in one year |
0 |
0 |
|
Other current assets |
104,088 |
93,442 |
|
|
------------------ |
------------------ |
|
Current assets |
5,932,577 |
6,036,602 |
|
Financial assets available for sale |
18,465 |
18,465 |
|
Fixed assets |
6,113,610 |
5,444,324 |
|
Construction in progress |
2,364,320 |
2,690,230 |
|
Disposal of fixed assets |
26,454 |
471,971 |
|
Project materials |
0 |
0 |
|
Intangible assets |
320,972 |
313,148 |
|
Long-term investment |
357,125 |
371,603 |
|
Development expenditure |
389,326 |
432,019 |
|
Long-term deferred expense |
26,634 |
23,986 |
|
Deferred income tax assets |
37,131 |
37,131 |
|
Goodwill |
3,337 |
3,337 |
|
Other non-current assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
15,589,951 |
15,842,816 |
|
|
============= |
============= |
|
Short-term loans |
2,374,000 |
2,630,911 |
|
Notes payable |
527,431 |
581,197 |
|
Accounts payable |
2,196,739 |
2,109,761 |
|
Accrued Payroll |
116,362 |
137,458 |
|
Taxes payable |
48,922 |
38,374 |
|
Interest payable |
63,292 |
1,936 |
|
Dividend payable |
20,670 |
15,825 |
|
Advances from clients |
218,368 |
199,510 |
|
Other payable |
652,811 |
774,245 |
|
Non-current liabilities due within one year |
1,584,012 |
883,376 |
|
Other current liabilities |
1,000,363 |
551,379 |
|
|
------------------ |
------------------ |
|
Current liabilities |
8,802,970 |
7,923,972 |
|
Non-current liabilities |
1,534,971 |
2,654,372 |
|
|
------------------ |
------------------ |
|
Total liabilities |
10,337,941 |
10,578,344 |
|
Equities |
5,252,010 |
5,264,472 |
|
|
------------------ |
------------------ |
|
Total liabilities & equities |
15,589,951 |
15,842,816 |
|
|
============= |
============= |
Consolidated
Income Statement
|
Unit: CNY’000 |
Jan. 1 to Jun.
30, 2015 |
|
Revenue |
4,498,757 |
|
Cost of sales |
3,768,604 |
|
Taxes and surcharges |
24,079 |
|
Sales expense |
361,581 |
|
Management expense |
191,968 |
|
Finance expense |
135,464 |
|
Assets impairment loss |
4,137 |
|
Investment income |
14,668 |
|
Non-operating income |
6,571 |
|
Non-operating expense |
1,343 |
|
Profit before tax |
32,820 |
|
Less: profit tax |
9,696 |
|
23,124 |
Important Ratios
=============
|
|
As of Dec. 31,
2014 |
As of Jun. 30,
2015 |
|
*Current ratio |
0.67 |
0.76 |
|
*Quick ratio |
0.48 |
0.54 |
|
*Liabilities to assets |
0.66 |
0.67 |
|
*Net profit margin (%) |
-- |
0.51 |
|
*Return on total assets (%) |
-- |
0.15 |
|
*Inventory / Revenue ×365/180 |
-- |
70 days |
|
*Accounts receivable / Revenue ×365/180 |
-- |
60 days |
|
*Revenue / Total assets |
-- |
0.28 |
|
*Cost of sales / Revenue |
-- |
0.84 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears fairly good in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY: FAIR
The current ratio of SC is maintained in a fair level.
SC’s quick ratio is maintained in a fair level.
The inventory of SC appears average.
The accounts receivable of SC appears average.
The short-term loan of SC appears large.
SC’s revenue is in a fair level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is low.
Overall financial condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered large-sized in its line with fairly stable financial conditions. The large amount of short-term loans may be a threat to SC’s financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.25 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.