|
Report No. : |
303331 |
|
Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
MUSTEK SYSTEMS INC. |
|
|
|
|
Registered Office : |
No.25, R&D Rd. II, Science-Based Industrial Park, Hsinchu |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.10.1988 |
|
|
|
|
Com. Reg. No.: |
23117191 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
engaged in Manufacturing and sales of Electronic Products including Document Scanner, High Speed ADF Scanners, High Speed A3 And A4 Flatbed Scanners, Handheld Scanners, Personal Photo Scanners, iPhone and iPad docking scanners, and the Wi-Fi Mobile Scanners which are compatible with various Smartphones, Tablets and Computers. |
|
|
|
|
No of Employees : |
About 64 Employees (Taiwan) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
Litigation : |
----- |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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: |
No.25, R&D
Rd. II, Science-Based Industrial Park, Hsinchu, Taiwan, R.O.C. |
|
Supplied Address: |
NO.25,R&D
ROAD II,SCIENCE BASED INDUSTRIAL PARK,HSIN-CHU,TAIWAN |
|
Telephone Number: |
+886-3-577-9373 |
|
Fax Number: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated on 1988-10-15 with registered number 23117191 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock
Exchange on 1997-1-31.
Factories
|
1 |
|
|
Address: |
No.25, R&D Rd. II, Science-Based
Industrial Park, Hsinchu, Taiwan, R.O.C. |
|
Date of Registration: |
1990-2-27 |
|
Factory Registration Number: |
95A00146 |
|
Factory Manager: |
Wencong Chen |
|
Status: |
In production |
|
Date of Last Annual Return: |
2010-4-13 |
|
Major Products: |
271 computer and
related equipment 273 audio visual electronic products |
|
2 |
|
|
Address |
Xi Nan Zone, Shi Jie Town, Dong Guan, Guang Dong, China |
|
Tel |
+86-769-86631068 |
|
Fax |
+86-769-86360390 |
Subsidiary Companies
|
Mustek Inc. 8 Corporate
Park, Suite 300, Irvine CA 92606,USA Tel:
+1-949-790-3800 Fax:
+1-949-247-8940 MUST International
B.V. Celsiusweg
32-58, 5928 PR Venlo, The Netherlands Tel: +31 773030
640 Fax: +31 773030 641 |
Major Shareholders
|
Subscription Shares |
|
|
Wencong Chen |
2,741,792 |
|
Ximin Chen |
|
|
204 |
|
|
Li De Investment Co., Ltd (Liberal
Translation) |
6,954,165 |
|
Qingfu Zhong |
14,174 |
|
Suzhen Pu |
238,989 |
Shareholder
Information:
|
Registered Name: |
Li De Investment Co., Ltd (Liberal Translation) |
|
Registered Address: |
No. 278, Zhongshan Road, Xinhua District,
Tainan City, Taiwan |
|
Date of Foundation: |
1997-4-18 |
|
Registration Number: |
97428439 |
|
Registry: |
Tainan City Governmen |
|
Registered Capital: |
NTD 9,000,000 (USD 279,000) (As of 2015.01, 1 NTD = 0.031 USD) |
|
Paid-up Capital: |
NTD 9,000,000 (USD 279,000) |
|
Legal Representatives: |
Suzhen Pu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-4-22 |
Core Management
|
1 |
||
|
Name |
Wencong Chen |
|
|
Position |
Board Chairman |
|
|
2 |
||
|
Name |
Ximin Chen |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Aide Chen |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Jiahua Chen |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Qingfu Zhong |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Suzhen Pu |
|
|
Position |
Supervisor |
|
|
7 |
||
|
Name |
Jinlong Chen |
|
|
Position |
Supervisor |
|
|
8 |
||
|
Name |
Wencong Chen |
|
|
Position |
Manager |
|
|
Date of Appointment |
2008-8-5 |
|
Personnel
Structure
|
Total Employees |
About 64 Employees
(Taiwan) (As of
2014-3-31) |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.25, R&D Rd. II, Science-Based
Industrial Park, Hsinchu, Taiwan, R.O.C |
Production
Information
l
Subject is a trader of electronic products without any production activities
l
Subject has two factories in Taiwan and Dongguan
City, Guangdong Province, the mainland of China for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CC01050 |
Manufacturing of equipment for handling
with files and storage of files. |
|
CC01080 |
Manufacturing of electronic components. |
|
F401021 |
Importing of radio-frequency equipment
under telecommunication regular. |
|
Developing, researching, producing,
manufacturing and selling: |
|
|
1. |
Scanners |
|
2. |
Image Processing/Tra nsmission Computer
Turnkey Systems |
|
3. |
Digital Image Processing/Transmission
Devices Systems |
|
4. |
Digital Still Camera/Video Camera |
|
5. |
LCD Projictor |
|
6. |
High Density Optical Disc Machine |
|
7. |
Photo Printer |
|
Operating company’s related importing and
exporting business. |
|
l
It introduced that subject purchases its components
and etc both at home and abroad.
l Subject is engaged
in sale of electronic products
l
The major products include Document Scanner,
High Speed ADF Scanners, High Speed A3 And A4
Flatbed Scanners, Handheld Scanners, Personal Photo Scanners, iPhone and iPad docking scanners, and the Wi-Fi Mobile
Scanners which are compatible with various Smartphones, Tablets and Computers.
l
Subject’s sales regions include Asia, Europe,
America and etc.
l
Subject’s major customers are manufacturers and
traders of computers accessories and etc.
l
Subject can provide the OEM and ODM services.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Components and etc |
|
Payment Terms |
Cash, T/T and etc |
2.
Import
|
Products |
Components and etc |
|
Payment Terms |
L/C, T/T and etc |
Sales
1.
Domestic Markets
|
Product |
Electronic products and etc |
|
Selling Terms |
Cash, T/T and etc |
2.
Export
|
Product |
Electronic products and etc |
|
Selling Terms |
L/C, T/T and etc |
Unit: NTD/000
|
|
2013-12-31 |
2012-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
|
|
|
Total cash and cash equivalents |
41,149 |
28,927 |
|
Current available-for-sale financial assets |
|
|
|
Current available-for-sale financial
assets, net |
0 |
0 |
|
Current bond investment without active market |
|
|
|
Current bond investment without active
market, net |
53,031 |
52,954 |
|
Accounts receivable, net |
|
|
|
Accounts receivable, net |
23,828 |
43,691 |
|
Other receivables |
|
|
|
Other receivables, net |
3,339 |
20,100 |
|
Inventories |
|
|
|
Total inventories |
53,279 |
65,288 |
|
Other current assets |
|
|
|
Total other current assets |
10,653 |
14,166 |
|
Total current assets |
185,279 |
225,126 |
|
Non-current assets |
|
|
|
Non-current financial assets at cost |
|
|
|
Non-current financial assets at cost |
0 |
5,734 |
|
Non-current financial assets at cost, net |
0 |
5,734 |
|
Property, plant and equipment |
|
|
|
Buildings and structures, net |
|
|
|
Buildings and structures, cost |
323,508 |
331,864 |
|
Buildings and structures, net |
323,508 |
331,864 |
|
Machinery and equipment, net |
|
|
|
Machinery and equipment, cost |
1,336 |
9,056 |
|
Machinery and equipment, net |
1,336 |
9,056 |
|
Molding equipment, net |
|
|
|
Molding equipment, cost |
0 |
190 |
|
Molding equipment, net |
0 |
190 |
|
Testing equipment, net |
|
|
|
Testing equipment, cost |
0 |
125 |
|
Testing equipment, net |
0 |
125 |
|
Transportation equipment, net |
|
|
|
Transportation equipment, cost |
124 |
371 |
|
Transportation equipment, net |
124 |
371 |
|
Office equipment, net |
|
|
|
Office equipment, cost |
752 |
941 |
|
Office equipment, net |
752 |
941 |
|
Leased assets, net |
|
|
|
Leased assets, cost |
769 |
2,163 |
|
Leased assets, net |
769 |
2,163 |
|
Other facilities, net |
|
|
|
Other facilities, cost |
99 |
200 |
|
Other facilities, net |
99 |
200 |
|
Total property, plant and equipment |
326,588 |
344,910 |
|
Intangible assets |
|
|
|
Computer software, net |
|
|
|
Computer software |
1,314 |
1,944 |
|
Computer software, net |
1,314 |
1,944 |
|
Other intangible assets, net |
|
|
|
Other intangible assets |
0 |
3,823 |
|
Other intangible assets, net |
0 |
3,823 |
|
Total intangible assets |
1,314 |
5,767 |
|
Other non-current assets |
|
|
|
Guarantee deposits paid |
2,614 |
9,009 |
|
Other non-current assets, others |
|
|
|
Other non-current assets, others |
16,950 |
16,950 |
|
Total other non-current assets, others |
16,950 |
16,950 |
|
Total other non-current assets |
19,564 |
25,959 |
|
Total non-current assets |
347,466 |
382,370 |
|
Total assets |
532,745 |
607,496 |
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
|
|
|
Bank loan |
132,459 |
196,736 |
|
Other short-term borrowings |
170,000 |
50,000 |
|
Total short-term borrowings |
302,459 |
246,736 |
|
Accounts payable |
|
|
|
Accounts payable |
38,763 |
53,932 |
|
Total accounts payable |
38,763 |
53,932 |
|
Other payables |
|
|
|
Other payables, others |
49,194 |
77,525 |
|
Total other payables |
49,194 |
77,525 |
|
Current tax liabilities |
274 |
2,794 |
|
Current provisions |
|
|
|
Current provisions for employee benefits |
0 |
0 |
|
Short-term warranty provision |
484 |
0 |
|
Short-term provision for sales returns
and discounts |
1,260 |
1,260 |
|
Total current provisions |
1,744 |
1,260 |
|
Other current liabilities |
|
|
|
Other current liabilities, others |
9,598 |
11,346 |
|
Total other current liabilities |
9,598 |
11,346 |
|
Total current liabilities |
402,032 |
393,593 |
|
Non-current liabilities |
|
|
|
Other non-current liabilities |
|
|
|
Guarantee deposits received |
5,258 |
3,845 |
|
Total other non-current liabilities |
5,258 |
3,845 |
|
Total non-current liabilities |
5,258 |
3,845 |
|
Total liabilities |
407,290 |
397,438 |
|
Equity |
|
|
|
Equity attributable to owners of parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
724,634 |
724,634 |
|
Total capital stock |
724,634 |
724,634 |
|
Retained earnings |
|
|
|
Unappropriated retained earnings
(accumulated deficit) |
|
|
|
Accumulated profit and loss |
-577,381 |
-540,392 |
|
Total unappropriated retained earnings
(accumulated deficit) |
-577,381 |
-540,392 |
|
Total retained earnings |
-577,381 |
-540,392 |
|
Other equity interest |
|
|
|
Other equity, others |
|
|
|
Other equity, others |
-21,798 |
25,816 |
|
Total other equity, others |
-21,798 |
25,816 |
|
Total other equity interest |
-21,798 |
25,816 |
|
Total equity attributable to owners of parent |
125,455 |
210,058 |
|
Non-controlling interests |
0 |
0 |
|
Total equity |
125,455 |
210,058 |
|
Equivalent issue shares of advance receipts for
ordinary share |
0 |
0 |
|
Number of shares in entity held by entity and by
its subsidiaries |
0 |
0 |
Unit: NTD/000
|
|
2013 |
2012 |
|
Operating revenue |
|
|
|
Net sales revenue |
|
|
|
Sales revenue |
|
|
|
Sales revenue |
284,989 |
653,604 |
|
Total sales revenue |
284,989 |
653,604 |
|
Net sales revenue |
284,989 |
653,604 |
|
Total operating revenue |
284,989 |
653,604 |
|
Operating costs |
|
|
|
Cost of sales |
|
|
|
Cost of sales |
219,652 |
505,030 |
|
Total cost of sales |
219,652 |
505,030 |
|
Total operating costs |
219,652 |
505,030 |
|
Gross profit (loss) from operations |
65,337 |
148,574 |
|
Unrealized profit (loss) from sales |
0 |
0 |
|
Realized profit (loss) on from sales |
0 |
0 |
|
Gross profit (loss) from operations |
65,337 |
148,574 |
|
Operating expenses |
|
|
|
Selling expenses |
|
|
|
Other expenses |
43,146 |
59,973 |
|
Total selling expenses |
43,146 |
59,973 |
|
Administrative expenses |
|
|
|
Other expenses |
80,909 |
87,833 |
|
Total administrative expenses |
80,909 |
87,833 |
|
Research and development expenses |
|
|
|
Other expenses |
42,664 |
62,247 |
|
Total research and development expenses |
42,664 |
62,247 |
|
Total operating expenses |
166,719 |
210,053 |
|
Net operating income (loss) |
-101,382 |
-61,479 |
|
Non-operating income and expenses |
|
|
|
Other income |
|
|
|
Other income, others |
35,455 |
53,676 |
|
Total other income |
35,455 |
53,676 |
|
Other gains and losses |
|
|
|
Foreign exchange gains |
49,797 |
-24,750 |
|
Losses on disposals of investments |
4,189 |
-26,944 |
|
Impairment loss |
|
|
|
Other impairment loss |
2,688 |
1,557 |
|
Total impairment loss |
2,688 |
1,557 |
|
Other gains and losses, net |
42,920 |
637 |
|
Finance costs |
|
|
|
Finance costs, net |
12,803 |
10,221 |
|
Total non-operating income and expenses |
65,572 |
44,092 |
|
Profit (loss) from continuing operations before tax |
-35,810 |
-17,387 |
|
Tax expense (income) |
|
|
|
Current tax expense (income) |
1,179 |
1,805 |
|
Total tax expense (income) |
1,179 |
1,805 |
|
Profit (loss) from continuing operations |
-36,989 |
-19,192 |
|
Profit (loss) |
-36,989 |
-19,192 |
|
Other comprehensive income |
|
|
|
Exchange differences on translation |
-47,614 |
25,816 |
|
Unrealised gains (losses) on valuation of
available-for-sale financial assets |
0 |
-1,105 |
|
Other comprehensive income, net |
-47,614 |
24,711 |
|
Total comprehensive income |
-84,603 |
5,519 |
|
Profit (loss), attributable to: |
|
|
|
Profit (loss), attributable to owners of parent |
-36,989 |
-19,192 |
|
Profit (loss), attributable to non-controlling
interests |
0 |
0 |
|
Comprehensive income attributable to: |
|
|
|
Comprehensive income, attributable to owners of
parent |
-84,603 |
5,519 |
|
Comprehensive income, attributable to
non-controlling interests |
0 |
0 |
|
Basic earnings per share |
|
|
|
Basic earnings (loss) per share from continuing
operations |
-0.51 |
-0.26 |
|
Total basic earnings per share |
-0.51 |
-0.26 |
|
Diluted earnings per share |
|
|
|
Diluted earnings (loss) per share from
continuing operations |
-0.51 |
-0.26 |
|
Total diluted earnings per share |
-0.51 |
-0.26 |
Unit: NTD/000
|
|
2013 |
2014 |
|
Cash flows from (used in) operating
activities, indirect method |
|
|
|
Profit (loss) from continuing operations before
tax |
-35,810 |
-17,387 |
|
Profit (loss) before tax |
-35,810 |
-17,387 |
|
Adjustments |
|
|
|
Adjustments to reconcile profit (loss) |
|
|
|
Depreciation expense |
11,888 |
34,494 |
|
Amortization expense |
630 |
3,011 |
|
Provision (reversal of provision) for bad
debt expense |
-678 |
9,696 |
|
Interest expense |
12,803 |
10,221 |
|
Interest income |
-3,003 |
-2,626 |
|
Share of loss (profit) of associates and
joint ventures accounted for using equity method |
0 |
276 |
|
Loss (gain) on disposal of property, plan
and equipment |
-2,073 |
244 |
|
Loss (gain) on disposal of investments |
0 |
-723 |
|
Unrealized foreign exchange loss (gain) |
1,111 |
10,125 |
|
Other adjustments to reconcile profit
(loss) |
4,670 |
-26,221 |
|
Total adjustments to reconcile profit
(loss) |
25,348 |
38,497 |
|
Changes in operating assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in accounts
receivable |
22,001 |
108,115 |
|
Decrease (increase) in other receivable |
2,261 |
1,735 |
|
Decrease (increase) in inventories |
12,009 |
97,371 |
|
Decrease (increase) in other current
assets |
7,353 |
9,769 |
|
Total changes in operating assets |
43,624 |
216,990 |
|
Changes in operating liabilities |
|
|
|
Increase (decrease) in accounts payable |
-15,903 |
-155,189 |
|
Increase (decrease) in other payable |
-30,181 |
-25,415 |
|
Increase (decrease) in other current
liabilities |
-2 |
-12,945 |
|
Total changes in operating liabilities |
-46,086 |
-193,549 |
|
Total changes in operating assets and
liabilities |
-2,462 |
23,441 |
|
Total adjustments |
22,886 |
61,938 |
|
Cash inflow (outflow) generated from operations |
-12,924 |
44,551 |
|
Income taxes refund (paid) |
-2,925 |
-1,805 |
|
Net cash flows from (used in) operating activities |
-15,849 |
42,746 |
|
Cash flows from (used in) investing activities |
|
|
|
Proceeds from disposal of available-for-sale
financial assets |
0 |
4,639 |
|
Proceeds from disposal of financial assets at
cost |
16,351 |
12,873 |
|
Proceeds from capital reduction of investments
accounted for using equity method |
0 |
18 |
|
Acquisition of property, plant and equipment |
-309 |
-530 |
|
Proceeds from disposal of property, plant and
equipment |
8,766 |
358 |
|
Decrease in refundable deposits |
6,395 |
327 |
|
Acquisition of intangible assets |
0 |
-6,351 |
|
Interest received |
2,800 |
2,799 |
|
Net cash flows from (used in) investing
activities |
34,003 |
14,133 |
|
Cash flows from (used in) financing activities |
|
|
|
Decrease in short-term loans |
53,733 |
-79,224 |
|
Increase in guarantee deposits received |
1,415 |
-1,514 |
|
Interest paid |
-13,499 |
-10,229 |
|
Net cash flows from (used in) financing
activities |
41,649 |
-90,967 |
|
Effect of exchange rate changes on cash and cash equivalents |
-47,581 |
27,387 |
|
Net increase (decrease) in cash and cash equivalents |
12,222 |
-6,701 |
|
Cash and cash equivalents at beginning of period |
28,927 |
35,628 |
|
Cash and cash equivalents at end of period |
41,149 |
28,927 |
|
Cash and cash equivalents reported in the
statement of financial position |
41,149 |
28,927 |
Note: Subject didn’t submit its
individual financial information; we obtained its consolidated financials
as follows for reference.
The
above financial figures are based on the IFRSs Accounting System.
Subject declined to disclose its bank details;
from other source we cannot obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
|
Trial Number: |
1997, Zi, 53 |
|
Date of Trial: |
2003-1-10 |
|
Reason: |
Breach of reputation |
|
Claimant: |
Mustek Systems Inc. |
|
Defendant: |
Not stated |
|
2 |
|
|
Trial Number: |
2012, Su, 589 |
|
Date of Trial: |
2014-11-12 |
|
Reason: |
Payment for goods |
|
Claimant: |
TaiSol Electronics Co.,Ltd. |
|
Defendant: |
Mustek Systems Inc. |
|
3 |
|
|
Trial Number: |
2013, Chongsu, 68 |
|
Date of Trial: |
2014-3-31 |
|
Reason: |
Payment for damages |
|
Claimant: |
Mustek Systems Inc. |
|
Defendant: |
DHL Supply Chain (Taiwan) Co., Ltd. |
|
4 |
|
|
Trial Number: |
2012, Bu, 1003 |
|
Date of Trial: |
2012-11-22 |
|
Reason: |
Payment for damages |
|
Claimant: |
DHL Supply Chain (Taiwan) Co., Ltd. |
|
Defendant: |
Mustek Systems Inc. |
|
5 |
|
|
Trial Number: |
2012, Bu, 430 |
|
Date of Trial: |
2012-6-8 |
|
Reason: |
Payment for goods |
|
Claimant: |
TaiSol Electronics Co.,Ltd. |
|
Defendant: |
Mustek Systems Inc. |
Interview Details
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
UK Pound |
1 |
Rs.93.49 |
|
Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.