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Report No. : |
310511 |
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Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
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Name : |
DAIJIN EXPRESS CO., LTD. |
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Registered Office : |
19, Sinchon-ro 2an-gil, Mapo-gu, Seoul |
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Country : |
South Korea |
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Date of Incorporation : |
25.05.1984 |
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Legal Form : |
Company , Limited by Shares |
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Line of Business : |
Subject is engaged in transport Arrangement Services |
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No. of Employee : |
19 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SOUTH KOREA - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion-dollar club of world economies, and is currently the world's 12th largest economy. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. South Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. South Korea's export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 and 2013 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The administration in 2014 is likely to face the challenge of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. The South Korean economy's long term challenges include a rapidly aging population, inflexible labor market, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise about half of GDP.
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Source
: CIA |
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Company Name |
DAIJIN EXPRESS
CO., LTD. |
|
Registered Address |
19, Sinchon-ro 2an-gil, Mapo-gu, Seoul, Korea |
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Building |
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Zip Code |
121-899 |
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Tel |
+82-2-323-2700 |
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Fax |
+82-2-323-2442 |
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E-mail |
daijin@daijinexpress.co.kr |
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Website |
www.daijinexpress.co.kr |
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Trading Address |
19, Sinchon-ro 2an-gil, Mapo-gu, Seoul,
Korea (Old address System : 175-5, Donggyo-dong,
Mapo-gu, Seoul, Korea) |
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Tel |
+82-2-323-2700 |
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Fax |
+82-2-323-2442 |
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Other Address-Busan Branch |
78-11, Jungang-dong
4-ga, Jung-gu, Busan, Korea |
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Tel |
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Fax |
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Type |
Services |
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Industry |
Freight Transport Brokerage, Agency and Other Supporting Transport
Services |
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Main Business |
Transport Arrangement Services |
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Sub
Business |
Textiles |
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Established (mm/dd/yyyy) |
05/25/1984 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Transport arrangements(78141500) |
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Sell |
International trade services(80151600) |
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Sell |
Freight forwarders services(78141501) |
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Name |
Park Chang-Hyun |
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Address |
Suite 102-1001, 805, Hannam-dong,
Yongsan-gu, Seoul, Korea |
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Date of Birth |
08/08/1943 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
500,000,000 |
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Employees |
19 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
SC First Bank of Korea |
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Corporate Registered No. |
110111-0375108 |
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Business Registered No. |
105-81-32825 |
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Permit & Licenses |
N/A |
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Shareholder Position |
N/A |
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Company History |
05/25/1984 Incorporated as the present name |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Park Chang-Hyun |
Male |
Korean |
10/10/1993 |
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Director |
Mr. |
Eom Jang-Won |
Male |
Korean |
03/25/2009 |
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Director |
Mr. |
Song Young-Hwan |
Male |
Korean |
03/25/2009 |
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Auditor |
Mr. |
Yoo Hoo-Mun |
Male |
Korean |
02/25/1993 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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2012 |
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2011 |
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2010 |
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2009 |
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2008 |
8,565,000,000 |
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2007 |
9,575,000,000 |
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2006 |
8,623,000,000 |
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2005 |
6,950,000,000 |
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The latest &
full financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
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Authorized Capital(KRW) |
1,000,000,000 |
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Paid-Up Capital(KRW) |
500,000,000 |
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Total Issues Shares |
100,000 |
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Balance Sheet |
|||
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Unit : Million Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
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Total Assets |
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Current Assets |
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-Quick Assets |
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-Inventories |
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Fixed Assets |
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-Investment |
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-Tangibles |
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-Intangibles |
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Total Liabilities |
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Current Liabilities |
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Fixed Liabilities |
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Capital Stock |
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Capital Surplus |
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Profit Surplus |
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Capital Adjustment |
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Total Equity |
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Liab. & Shareholder’s Equity |
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Income Statement |
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Unit : Million Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
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Sales |
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Cost of Sold Goods |
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Gross Profit |
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Selling & Admin. Expenses |
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Operating Income |
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Non-Operating Income |
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Non-Operating Expenses |
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Ordinary Income |
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Special Income |
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Income Before Taxes |
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Income Taxes Expenses |
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Net Income |
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Cash Flows |
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Unit : Million Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
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Cash Flows from Operating |
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-Net Income |
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-Exp. without Cash Outflow |
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-Revenue without Cash Inflows |
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-Changes in Asset/ & Liability |
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Cash Flows from Investing |
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-Cash Inflow from Investing |
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-Cash Outflows for Investing |
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Cash Flows from Financing |
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-Cash Inflows from Financing |
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-Cash Outflows from Financing |
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Increase/Decrease in Cash |
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Cash at the Beginning of Year |
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Cash at the End of Year |
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Main Products & Services |
International Air Freight Forwarding Sea & Air and Air & Sea Service Warehousing, Trucking, Consolidation, Door
to Door Service Customs Brokerage Service Project and Breakbulk Service G.O.H. service(Fashion) Logistics consulting |
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Detailed Products Spec. |
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Technologies Acquired |
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Suppliers |
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Customers |
HYUNJIN APPAREL CO., LTD.(120111-0039728) |
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Competitors |
YOUNG CHEON LOGISTICS CO., LTD. 4TH FL., YEONGCHEON BLDG., 33-2,
GONGHANG-DONG, GANGSEO-GU, SEOUL, KOREA TEL:+82-2-3663-9009 FAX:+82-2-3665-3004 AGILITY LTD. 2ND FL., YEOLRIN BLDG., 1666-3, SEOCHO
1-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-539-9411 FAX:+82-2-539-2071 AIRSTAR INTERNATIONAL CO., LTD. 2ND FL., SEOYEONG BLDG., 367-9,
SEOGYO-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-333-3933 FAX:+82-2-323-5700 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
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Affiliates |
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Overseas Office |
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Liaison Office |
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Overseas Branch |
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Joint Venture |
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Subsidiary |
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Corporate Ownership |
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Major Shareholders |
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Cooperative Enterprise |
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Sales/ Unit :Mil KRW |
2013 |
2012 |
2011 |
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Export |
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Domestic |
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Total |
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Not Available.
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Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/
Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
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Not Available.
News Clipping
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.79 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
ASH |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<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.