MIRA INFORM REPORT

 

 

Report No. :

325870

Report Date :

06.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SK GLOBAL CHEMICAL CO., LTD.

 

 

Registered Office :

26, Jong-ro, Jongno-gu, Seoul

 

 

Country :

South Korea

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

01.04.2011

 

 

Com. Reg. No.:

101-86-60116

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Petroleum Products, Chemicals, Lubricants

 

 

No. of Employees :

1,042

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

SOUTH KOREA - ECONOMIC OVERVIEW

 

South Korea over the past four decades has demonstrated incredible economic 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. A system of close government and business ties, including directed credit and import restrictions, initially 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 7% 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 over 6% growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Between 2012 and 2014, the economy experienced sluggish growth because of external market slowdowns. The administration in 2015 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 the heavy reliance on exports, which comprise about half of GDP.

 

 

Source : CIA

 

 

 

Basic Information

 

Basic

 

Company Name

SK GLOBAL CHEMICAL CO., LTD.

Registered Address

26, Jong-ro, Jongno-gu, Seoul, Korea

Building

 

Zip Code

110-110

Tel

+82-2-2121-5114

Fax

+82-2-2121-7001

E-mail

markij@sk.com;dw@sk.com

Website

www.skglobalchemical.com

Trading Address

26, Jong-ro, Jongno-gu, Seoul, Korea

(Old Address System : 99, Seorin-dong, Jongno-gu, Seoul, Korea)

Tel

+82-2-2121-5114

Fax

+82-2-2121-7001

Other Address-R&D Center

140-1, Wonchon-dong, Yuseong-gu, Daejeon, Korea

Tel

+82-42-866-7301

Fax

+82-42-866-7302

Other Address-Ulsan Complex

110, Gosa-dong, Nam-gu, Ulsan, Korea

Tel

+82-52-208-2114

Fax

+82-52-208-2002

Type

Export/Import

Industry

Manufacture of Petroleum Products, Chemicals, Lubricants

  Main Business

LLDPE, HDPE, PP, Performance Rubber, Benzene, Toluene, Xylene, Para-Xylene, Styrene Monomer, Performance Chemicals

  Sub Business

 

Established (mm/dd/yyyy)

01/04/2011

The Subject owns the premises of registered HQ address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Polystyrene PS(13102026)

Sell

High Density Polyethylene HDPE(13102017)

Sell

Amines or imines or its substitutes(12352116)

Sell

Elastomers(13101700)

Sell

Polyethylene(13111016)

Sell

Chemistry reagents or solutions(41116105)

Sell

Polystyrene PS(13102026)

Sell

Aromatic or heterocyclic compounds(12352005)

Sell

Low Density Polyethylene LDPE(13102018)

 

 

CEO’s

 

Name

Cha Hwa-Youb

Address

Suite 608-305, 911, Mok-dong, Yangcheon-gu, Seoul, Korea

Date of Birth

02/21/1959

Title

President & CEO

Sex

Male

Nationality

Korean

Education

1977  Graduated from Inchang High School

1983  B.S. Chemical Engineering, Sogang Univ.

 

Career

1983  Joined Korea Oil Corporation Division

2000  Head of PP Sales Team, SK Chemical Division

2004  Head of SK Chemical Business Planning Headquarters (Managing Director)

2009  Head of SK Energy Corporate Culture Headquarters & Head of HR Division(Executive Director)

2010  Head of SK Energy CIC Olefin Business Headquarters (Executive Director)

2011  SK global chemical CEO & President

 

 

Profiles

 

Capital (KRW)

130,000,000,000

Employees

1,042

Formation

Co., Ltd by Shares

A Company of SK Group

Bank Details

Hana Bank

Korea Exchange Bank

Corporate Registered No.

110111-4505975

Business Registered No.

101-86-60116

Permit & Licenses

Int’l Trade No.: 30682803

Shareholder Position

Name

Shares

%

SK INNOVATION CO., LTD.(110111-3710385)

26,000,000

100.00

TOTAL

26,000,000

100.00

Company History

01/04/2011 Incorporated after spin off from SK ENERGY CO., LTD., has been spin off into the existing company, SK INNOVATION CO., LTD.(110111-3710385), and newly established companies, the Subject Company and SK ENERGY CO., LTD.(110111-4505967)

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inaugurated Date

President & CEO

Mr.

Cha Hwa-Youb

Male

Korean

01/13/2011

Director

Mr.

Lee Sung-Cheol

Male

Korean

06/02/2014

Director

Mr.

Cha Jin-Seok

Male

Korean

04/11/1963

Director

Mr.

Kim Joon

Male

Korean

02/04/2015

Director

Mr.

Song Jin-Hwa

Male

Korean

01/01/2014

Auditor

Mr.

Shim Woo-Yong

Male

Korean

03/25/2015

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

03/2015

2,606,288,826,000

5,986,316,374,000

78,386,748,000

2014

15,474,327,933,000

6,290,277,413,000

239,287,204,000

2013

15,590,748,813,000

5,758,472,915,000

662,941,156,000

2012

15,380,102,154,000

5,061,450,665,000

550,782,968,000

2011

17,217,145,192,000

5,232,175,625,000

466,515,342,000

 

 

Financial Description

 

Authorized Capital(KRW)

520,000,000,000

Paid-Up Capital(KRW)

130,000,000,000

Total Issues Shares

26,000,000

 

 

Balance Sheet

Unit : Thousand Korean Won

01/01/2015~03/31/2015

As of 12/31/2014

As of 12/31/2013

Total Assets

5,986,316,374

6,290,277,413

5,758,472,915

Current Assets

2,331,764,462

2,614,911,755

2,570,719,171

Cash & Cash Equivalents

348,286,797

409,663,798

575,775,953

Other Financial Assets

22,000,000

22,000,000

12,000,000

Trade Receivables

1,335,958,177

1,389,184,907

1,270,311,419

Other Receivables

29,515,610

39,444,955

23,894,486

Uneraned Income

404,074

355,353

249,584

Short-Term Receivables

4,305,000

5,000,000

3,000,000

Advance Payments

40,332,212

86,266,587

68,861,209

Prepaid Expenses

1,715,502

2,743,673

3,232,191

Guarantees

2,515,382

4,963,523

6,256

Derivatives

5,543,955

5,627,067

6,328,279

Inventories

501,501,811

582,925,136

607,059,794

Income Taxes

39,685,942

66,736,756

-

Non-Current Assets

3,654,551,912

3,675,365,658

3,187,753,744

Other Financial Assets

40,755

42,711

22,500

Marketable Financial Instruments

169,752,369

169,752,369

166,597,641

Investment_Related Companies

661,067,603

666,664,310

397,080,869

Guarantees

715,025

715,737

709,941

Tangibles

2,819,001,560

2,834,046,301

2,616,574,280

Intangibles

3,974,600

4,144,230

6,768,513

Total Liabilities

2,647,096,998

3,029,193,411

2,537,912,876

Current Liabilities

1,223,396,176

1,597,684,912

1,149,142,724

Trade Payables

618,755,866

619,531,605

548,086,780

Short-Term Borrowings

146,155,741

493,387,771

65,646,604

Current Portion of Long-Term Debts

371,392,288

361,317,032

280,694,202

Account Payables

9,170,647

14,036,151

17,901,161

Accrued Expenses

64,081,966

94,504,491

109,565,499

Advance Receipts

7,487,499

3,699,841

10,801,691

Withholdings

4,521,013

9,640,548

6,123,868

Derivatives

898,686

1,202,770

4,841,159

Deferred Income Tax Credit

932,470

364,703

105,481,760

Non-Current Liabilities

1,423,700,822

1,431,508,499

1,388,770,152

Debentures & Long-Term Trade Payables

1,393,725,390

1,402,491,373

1,355,015,624

Provision for Severance & Retirement

5,462,093

3,701,554

7,879,985

Deferred Income Tax Credit

24,513,339

25,315,572

25,874,543

Capital Stock

130,000,000

130,000,000

130,000,000

Capital Surplus

1,671,123,574

1,671,123,574

1,671,123,574

Capital Adjustment

-2,063,011

-2,063,011

-2,063,011

Others

-1,076,436

-1,499,636

-2,122,225

Profit Surplus

1,541,235,249

1,463,523,075

1,423,621,701

Total Equity

3,339,219,376

3,261,084,002

3,220,560,039

Liab. & Shareholder’s Equity

5,986,316,374

6,290,277,413

5,758,472,915

 

Income Statement

Unit : Thousand Korean Won

01/01/2015~03/31/2015

As of 12/31/2014

As of 12/31/2013

Sales

2,606,288,826

15,474,327,933

15,590,748,813

Cost of Sold Goods

2,417,664,643

14,838,039,319

14,425,563,233

Gross Profit

188,624,183

636,288,614

1,165,185,580

Selling & Admin. Expenses

73,486,771

289,117,985

303,358,626

Operating Income

115,137,412

347,170,629

861,826,954

Finance Income

63,219,320

364,982,332

266,036,143

Finance Expenses

76,998,406

392,123,587

288,733,916

Non-Operating Income

5,352,171

25,852,198

4,773,362

Non-Operating Expenses

379,478

16,374,617

14,466,717

Profits from Investment on Related Companies

5,596,707

82,758,977

 

Income Before Taxes

100,734,312

246,747,978

829,435,826

Income Taxes Expenses

22,347,564

7,460,774

166,494,670

Net Income

78,386,748

239,287,204

662,941,156

 

Cash Flows

Unit : Thousand Korean Won

01/01/2015~03/31/2015

As of 12/31/2014

As of 12/31/2013

Operating Activities Cash Flows

299,147,795

207,625,480

621,513,270

Net Income

78,386,748

239,287,204

662,941,156

Adjustment

225,410,788

163,346,179

158,643,192

Dividends Received

 

23,020,681

1,799,044

Interests Received

3,221,113

12,782,334

25,439,683

Interests Paid

-12,419,893

-51,205,261

-71,884,172

Income Taxes

4,549,039

-179,605,657

-155,425,633

Cash Flows from Investing

-13,042,542

-705,994,627

-867,335,252

Cash Flows from Financing

-347,482,254

330,996,992

99,036,650

Increase/Decrease in Cash

-61,377,001

-167,372,155

-146,785,332

Cash at the Beginning of Year

409,663,798

575,775,953

723,821,285

Cash at the End of Year

348,286,797

409,663,798

575,775,953

 

 

Products, Technologies, Services Description

 

Main Products & Services

Olefin Division

Aromatics Division

Performance Chemicals

Polymer

EPDM

Detailed Products Spec.

 

Technologies Acquired

 

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

 

Competitors

GS-CALTEX CORPORATION (110111-0078819)

GS GANGNAM TOWER, 679, YEOKSAM 1-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-2005-1114  FAX:+82-2-2005-6051

 

S-OIL CORPORATION(110111-0189955)

45TH FL., KOREA LIFE INSURANCE 63 BLDG., 60, YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL:+82-2-3772-5151  FAX:+82-2-786-4030

 

HYUNDAI OILBANK CO., LTD.(110111-0090558)

640-6. DAEJUK-RI, DAESAN-EUP, SEOSAN-SI, CHUNGCHEONGNAM-DO, KOREA

TEL:+82-41-660-5114  FAX:+82-41-660-5111

 

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates-Domestic

SK PETROCHEMICAL CO., LTD.(135811-0120906)

(100.0% held by the subject company)

 

GREEN IS CO., LTD.(134811-0195562)

(84.31% held by the subject company)

 

AROCHEMI CO., LTD.(110111-4499954)

(50.01% held by the subject company)

 

SHANGHAI GAOQIAO-SK SOLVENT CO., LTD.

(50.0% held by the subject company)

 

ZHEJIANG SHENXIN SK PACKAGING CO., LTD.

(25.0% held by the subject company)

 

SK GLOBAL CHEMICAL (CHINA) HOLDING CO., LTD.

(100.0% held by the subject company)

 

SK GLOBAL CHEMICA AMERICAS, INC.

(100.0% held by the subject company)

 

SK ENERGY INTERNATIONAL TRADING  SHANGHAI) CO., LTD.

(3.04% held by the subject company)

 

SK GLOBAL CHEMICAL SINGAPORE PTE. LTD.

(100.0% held by the subject company)

 

HANJU CORPORATION(181211-0007663)

(7.38% held by the subject company)

 

HYUNDAI ENGINEERING PLASTICS CO., LTD(165011-0006768)

(4.99% held by the subject company)

 

SK IIS PTE. LTD.

(16.67% held by the subject company)

Affiliates-Domestic

SK TELECOM CO., LTD.(110111-0371346)

SK C&C CO., LTD.(110111-0769583)

SK TELINK, CORP.(110111-1533599)

INNOACE CO., LTD(110111-2104026)

PAXNET, INC.(110111-1698830)

IHQ, INC.(110111-0042393)

AIRCROSS CO., LTD.(110111-2121765)

TU MEDIA CORPORATION(110111-2907826)

SK COMMUNICATIONS CO., LTD.(110111-1322885)

COMMERCE PLANET CO., LTD.(110111-1416133)

F&U CREDIT INFORMATION CO., LTD.(135311-0003300)

SK WYVERNS CO., LTD(120111-0217366)

SK HOLDINGS CO., LTD.(110111-0022816)

SK ENGINEERING & CONSTRUCTION CO., LTD.(110111-0038805)

SK TELESYS CO., LTD.(110111-1405897)

LOEN ENTERTAINMENT, INC.(134111-0010706)

INFOSEC CO., LTD(110111-2007858)

INDEPENDENCE CO., LTD.(110111-2010116)

SKC MEDIA CO., LTD.(161511-0076377)

IFILM CORPORATION(110111-2857451)

SK BROADBAND CO., LTD.(110111-1466659)

CU MEDIA. INC.(110111-2031477)

NTREEV SOFT CO., LTD.(110111-2906456)

SK I-MEDIA CO., LTD.(110111-3505851)

IPLATFORM, INC(110111-3638917)

NURI SOLUTION CO., LTD.(110111-1866213)

HANAROMEDIA INC.(110111-3292664)

HANARO DREAM INCORPORATED(110111-2183343)

BROADBAND D&M CO., LTD.(110111-1509269)

NOWON JOEUN TELECOM CO., LTD.(110111-3655218)

MIRACLE INFORMATION & TELECOMMUNICATION CO., LTD.(120111-0433491)

ENCAR NETWORKS LTD.(110111-2125270)

SK MARKETING & COMPANY CO., LTD.(110111-3874066)

Affiliates-Domestic

QC I&T CO., LTD.(110111-3675381)

QL KWANAK CO., LTD.(110111-3826140)

QL DONGJAK CO., LTD.(110111-3729740)

QL SEOCHO CO., LTD.(110111-3729807)

QL YONGSAN CO., LTD.(110111-3761023)

QL YANGCHEON CO., LTD.(110111-3729609)

SK NETWORKS CO., LTD.(130111-0005199)

SK SHIPPING CO., LTD.(110111-0311392)

MRO KOREA CO., LTD(110111-2016940)

SK D&D CO., LTD.(110111-3001685)

OK CASHBAG SERVICE CO., LTD.(110111-1873432)

SK NETWORKS SERVICE CO., LTD.(135811-0141788)

BROADBAND TS CO., LTD.(281111-0119401)

BROADBAND CS CO., LTD.(110111-1592595)

BROADBAND SEOUL CS CO., LTD.(110111-3558842)

BROADBAND BUSAN CS CO., LTD.(180111-0573774)

BROADBAND GYEONGGI CS CO., LTD.(134111-0147575)

BROADBAND GWANGJU CS CO., LTD.(200111-0233050)

ANTS CO., LTD.(151111-0031058)

ULLEUNG DEEP SEA WATER CO., LTD(110111-3224724)

WS TRADING CO., LTD.(110111-3448712)

SK SECURITIES CO., LTD(110111-0037112)

SOLMICS CO., LTD.(134711-0014631)

UB CARE CO., LTD.(110111-1105364)

MECHARONICS CO., LTD.(120111-0233338)

ULLEUNG MINERAL CO., LTD.(110111-2602244)

WALKERHILL INC.(110111-0142854)

REAL BEST CO., LTD.(180111-0612027)

SK LUBRICANTS CO., LTD.(110111-4191815)

Affiliates-Overseas

SK AUSTRALIA PTY. LTD.

SK AUSTRALIA(TOGARA)

SK AUSTRALIA(WYONG)

SK DO BRASIL, LTDA

SK E&P CO. LTD.

SK ENERGY INTERNATIONAL PTE LTD.

SK ENERGY EUROPE LTD.

SK CHINA HOLDING CO.LTD.

SK INSURANCE (BERMUDA) LTD

SK ENERGY ROAD INVESTMENT

SK E&P ASIA LIMITED

SK CORPORATION HONG KONG INVESTMENT

CELTIC OIL LIMITED

SK ENERGY CANADA LIMITED

SK USA, INC.

SHANGHAI GAOQIAO-SK SOLVENT

DZP (DE ZWARTE PONK B.V.)

SKC INC

ZHEJIANG SHENXIN SK PACKAGING CO. LTD.

SK CHINA CO. LTD.

Overseas Office

 

Liaison Office

 

Overseas Branch

BEIJING, CHINA BRANCH

26F, SK TOWER, NO6 JIA, JIANGUOMENWAI AVENUE, BEIJING, CHINA

TEL:+86-10-5920-5660

 

SHANGHAI, CHINA BRANCH

RM 801, MAXDO CENTER, 8-XINGYI RD. SHANGHAI. CHINA

TEL:+86-21-6197-0242/0252

 

GUNGZHOU, CHINA BRANCH

ROOM 2504, HNA BUILDING, NO. 8 LINHE ZHONG ROAD, TIANHE DISTRICT, GUANGZHOU, GUANGDONG PROVINCE, CHINA

TEL:+86-20-8510-0301

 

NORTH AMERICA, HOUSTON BRANCH

1300 POST OAK BLVD., STE #425, HOUSTON, TEXAS, USA 77056

TEL:+1-713-850-0005

 

SINGAPORE BRANCH

4 SHENTON WAY #11 - 02/04 SGX CENTRE TWO SINGAPORE 068807

TEL:+65-6232-9381, 9367

 

TOKYO BRANCH

NBF HIBIYA BLDG. 8F, 1-1-7, UCHISAIWAI-CHO, CHIYODA-KU, TOKYO 100-0011, JAPAN

TEL:+81-3-3591-0343

 

DUBAI BRANCH

SUITE NO. 1702, FESTIVAL CITY OFFICE TOWER, MARSA AL KHOR, PO BOX 9389 DUBAI, UAE

TEL:+971-4-232-9371

 

LIMA BRANCH

CALLE AMADOR MERINO REYNA NO. 267 OF.702 EDIFICIO "PARQUE PLAZA" SAN ISIDRO, LIMA 27, PERU

TEL:+51-1-719-1080

Joint Venture

 

Subsidiary

SK PETROCHEMICAL CO., LTD.(135811-0120906)

(100.0% held by the subject company)

 

SK GLOBAL CHEMICAL INTERNATIONAL TRADING (SHANGHAI) CO., LTD.

15F,GUBEI FINANCE CENTRE II , NO.1438, HONGQIAO ROAD (200336)

 

SK GC AMERICAS INC.

1300 POST OAK BLVD SUITE 425,HOUSTON TEXAS 77056

 

SK GLOBAL CHEMICAL (CHINA) HOLDING CO., LTD.

3502,35F,SK TOWER,NO.6 JIA,JIANGUOMENWAI AVENUE, BEIJING, 100022, P.R. CHINA

 

SK GLOBAL CHEMICAL SINGAPORE PTE., LTD.

23 CHURCH STREET #10-05/06 CAPITAL SQUARE SINGAPORE 049481

 

SK GOLDEN TIDE PLASTICS (YANTAI) CO., LTD.

NO.88 JINLONG STREET, ZHAOYUAN CITY, SHANDONG PROVINCE, P.R. CHINA

 

SK GLOBAL CHEMICAL INTERNATIONAL TRADING (GUANGZHOU) CO., LTD.

ROOM 206,NO.74,CONBO ROAD,FREE TRADE ZONE,GUANGZHOU

 

SHANGHAI HUAYOU INTERNATIONAL FREIGHT FORWARDING CO., LTD.

15F GUBEI INTERNATIONAL FORTUNE CENTER Ⅱ, NO.1438, HONGQIAO ROAD, 200336

 

SK INTERNATIONAL INVESTMENT SINGAPORE PTE., LTD.

23 CHURCH STREET #10-05/06 CAPITAL SQUARE SINGAPORE 049481

 

SK GLOBAL CHEMICAL INVESTMENT HONG KONG LTD.

UNIT 602C, 6/F., ADMIRALTY CENTRE TOWER 1, 18 HARCOURT ROAD, ADMIRALTY, HONG KONG

 

NINGBO SK PERFORMANCE RUBBER CO., LTD.

ROOM 202, #1 BUILDING, NO266, BEIHAI ROAD, (NINGBO PETROCHEMICAL ECONOMIC &TECHNOLOGICAL DEVELOPMENT ZONE), CHEMICAL DISTRICT, #4 XIEPU DISTRICT, ZHENHAI, NINGBO, P. R. CHINA

 

SK GLOBAL CHEMICAL JAPAN CO., LTD.

NBF HIBIYA BLDG. 8F, 1-1-7, UCHISAIWAI-CHO, CHIYODA-KU, TOKYO 100-0011, JAPAN

Corporate Ownership

 

Major Shareholders

 

Cooperative Enterprise

 

 

 

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

06/2011

2010

2009

Export

8,753,104

 

 

Domestic

5,264,275

 

 

Others

3,204,115

 

 

Total

17,221,494

 

 

The Subject deals with the companies in USA, Australia, China, Indonesia, India and Vietnam.

 

 

Court Action

 

No.

 

 

News Clipping

 

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FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.90

UK Pound

1

Rs.97.97

Euro

1

Rs.71.82

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

VNT

 

               

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

 

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NB

New Business

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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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.