|
Report No. : |
326724 |
|
Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SESODA CORPORATION |
|
|
|
|
Registered Office : |
23F., No.99, Sec. 2, Tun Hwa S. Rd., Da-An
District, Taipei City 106, Taiwan (R.O.C.) |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
02.03.1957 |
|
|
|
|
Com. Reg. No.: |
11384405 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sale of Chemicals. |
|
|
|
|
No. of Employees : |
About 128 |
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) |
|
Taiwan |
A2 |
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, 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.
However, negotiations on follow-on components of ECFA, including an agreement
on trade in services, deals on trade in goods, and dispute resolution—have
stalled. In early 2014, the government bowed to public demand for 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 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 fourth largest, behind those of China, Japan,
and Russia. 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 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 the Taiwan 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 entry-level jobs.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
23F., No.99,
Sec. 2, Tun Hwa S. Rd., Da-An District, Taipei City 106, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2704-7272 |
|
Fax Number: |
Notes: The exact address is as above.
Subject was incorporated
on 1957-3-2 with registered number 11384405 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 1986-6-16.
Related Companies
|
Huan Yu Holdings Limited Sesoda Steamship Corporation Southeast Shipping Corporation SE Harmony Corporation SE Bulker Corporation Sesoda Investment (BVI) Ltd. Southeast Marine Globe Corporation SE Delta Corporation SE Peace Corporation |
Factories
|
1 |
|
|
Name: |
Su Ao General Factory |
|
Address: |
No. 120, Xincheng 1st Rd., Suao Town, Yilan County, Taiwan |
|
Telephone Number: |
+886-3-990-5121 |
|
2 |
|
|
Name: |
Changhua Factory |
|
Address: |
No. 1-6, Gongxi 1st Rd., Quanxing Industrial Park, Shengang
Xiang, Changhua County, Taiwan |
|
Telephone Number: |
+886-4-798-8931 |
|
3 |
|
|
Name: |
Taichung Factory |
|
Address: |
No. 12, Gong 10th Rd., Youshi Industrial Park, Dajia Dist.,
Taichung City, Taiwan |
|
Telephone Number: |
+886-4-2681-6685 |
Major Shareholders
|
Name |
Subscription Shares |
|
Zhengbang Investment Co., Ltd. (Literal
Translation) |
|
|
11,242,337 |
|
|
Sincere Industrial Corporation |
2,609,739 |
|
Zhifu Investment Co., Ltd. (Literal Translation) |
8,243,760 |
|
Zhongli Wu |
2,993,375 |
|
Sande International Investment Co., Ltd. (Literal Translation) |
3,637,357 |
Core Management
Directors
|
1 |
||
|
Name |
Yinfan Qian |
|
|
Position |
Chairman of the Board |
|
|
2 |
||
|
Name |
Lide Chen |
|
|
Position |
Vice Chairman of the Board |
|
|
3 |
||
|
Name |
Kaiyuan Chen |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Yide Chen |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Yingbiao Zhu |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Tianxing Zhao |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Zhongli Wu |
|
|
Position |
Director |
|
|
8 |
||
|
Name |
Bofu Li |
|
|
Position |
Supervisor |
|
|
9 |
||
|
Name |
Baokui Zhu |
|
|
Position |
Supervisor |
|
Personnel Structure
|
Total Employees |
About 128 Employees (As of Mar. 28, 2015) |
Offices & Factories
|
|
Headquarters |
|
Add |
23F., No.99, Sec. 2, Tun Hwa S. Rd., Da-An District, Taipei City 106,
Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of chemicals.
Subject has factories in Taiwan for production.
Subject has obtained the certification of ISO9001 and CNS 12681.
It is introduced that the annual capacity of potassium sulfate is about
120,000 metric tons.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Basic chemical industry |
|
C801110 |
Manufacturing of fertilizer |
|
C802990 |
Manufacturing of Other Chemical Products |
|
C802090 |
Manufacturing of Cleaning supplies |
|
C802200 |
Manufacturing of Coatings, paints, dyes and pigments |
|
F113010 |
Wholesales of Machinery |
|
C701010 |
Printing Industry |
|
C702010 |
Plate-making industry |
|
G801010 |
Warehousing |
|
F103010 |
Wholesales of feed |
|
J101050 |
Environmental testing services industry |
|
F107050 |
Wholesales of fertilizer |
|
F107100 |
Wholesales of Basic chemical materials |
|
F107070 |
Wholesales of Animal drugs |
|
F107080 |
Wholesales of Environmental agents |
|
F107110 |
Wholesales of Petrochemical feedstock |
|
F111020 |
Wholesales of Cement and concrete products |
|
C901050 |
Manufacturing of Cement and concrete products |
|
F112020 |
Wholesales of Coal and coal products |
|
F107130 |
Wholesales of synthetic resin |
|
F115020 |
Wholesales of ore |
|
F119010 |
Wholesales of Electronic Materials |
|
F219010 |
Retailing of Electronic Materials |
|
F102130 |
Wholesales of Condiment |
|
F107010 |
Wholesales of paints, coatings |
|
F107020 |
Wholesales of dyes, pigments |
|
F107170 |
Wholesales of Industrial additives |
|
F401010 |
International trade |
|
F106010 |
Wholesales of Hardware |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The raw materials for production are both purchased at home and abroad.
Subject also import some finished products for trading business.
Subject is engaged in sale of chemicals.
The major products manufactured by the subject are granular potassium
sulfate, powder potassium sulfate, liquid calcium chloride, hydrochloric acid, etc.
and the trading products such as soda ash, sugar, sodium bicarbonate, sodium
chloride (salt), mixed calcium phosphate, solid calcium chloride, ammonium
bicarbonate, pearl luster pigment.
Subject’s sales regions include domestic market, Japan, Korea, India,
Southeast Asia, Europe, America, etc.
Subject’s major customers are manufacturers of chemical products.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Raw material |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Chemicals |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Chemicals |
|
Selling Terms |
L/C, T/T |
Unit: NTD/000
|
Consolidated |
2014-12-31 |
2013-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
|
|
|
Total cash and cash equivalents |
1,006,196 |
914,069 |
|
Current financial assets at fair value through profit or loss |
|
|
|
Total current financial assets at fair value through profit or loss |
5,005 |
9,874 |
|
Current available-for-sale financial assets |
|
|
|
Current available-for-sale financial assets |
0 |
31,873 |
|
Current available-for-sale financial assets, net |
0 |
31,873 |
|
Notes receivable, net |
|
|
|
Notes receivable, net |
147,299 |
135,295 |
|
Accounts receivable, net |
|
|
|
Accounts receivable, net |
552,604 |
466,855 |
|
Inventories |
|
|
|
Total inventories |
539,124 |
485,029 |
|
Other current assets |
|
|
|
Other current financial assets |
19,592 |
14,655 |
|
Other current assets, others |
62,968 |
54,240 |
|
Total other current assets |
82,560 |
68,895 |
|
Total current assets |
2,332,788 |
2,111,890 |
|
Non-current assets |
|
|
|
Non-current available-for-sale financial assets |
|
|
|
Non-current available-for-sale financial assets, net |
106 |
85 |
|
Non-current financial assets at cost |
|
|
|
Non-current financial assets at cost, net |
260,616 |
181,627 |
|
Property, plant and equipment |
|
|
|
Total property, plant and equipment |
5,183,272 |
5,121,007 |
|
Deferred tax assets |
2,929 |
3,252 |
|
Other non-current assets |
|
|
|
Prepayments for business facilities |
854,232 |
202,517 |
|
Guarantee deposits paid |
8,498 |
2,284 |
|
Other non-current assets, others |
|
|
|
Other non-current assets, others |
1,112 |
100 |
|
Total other non-current assets, others |
1,112 |
100 |
|
Total other non-current assets |
863,842 |
204,901 |
|
Total non-current assets |
6,310,765 |
5,510,872 |
|
Total assets |
8,643,553 |
7,622,762 |
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
|
|
|
Total short-term borrowings |
591,855 |
336,555 |
|
Notes payable |
|
|
|
Total notes payable |
23,871 |
17,019 |
|
Accounts payable |
|
|
|
Total accounts payable |
399,323 |
283,688 |
|
Other payables |
|
|
|
Other accrued expenses |
203,009 |
152,360 |
|
Total other payables |
203,009 |
152,360 |
|
Current tax liabilities |
119,757 |
51,851 |
|
Other current liabilities |
|
|
|
Long-term liabilities, current portion |
|
|
|
Long-term borrowings, current portion |
238,422 |
201,216 |
|
Total long-term liabilities, current portion |
238,422 |
201,216 |
|
Other current liabilities, others |
49,640 |
45,963 |
|
Total other current liabilities |
288,062 |
247,179 |
|
Total current liabilities |
1,625,877 |
1,088,652 |
|
Non-current liabilities |
|
|
|
Long-term borrowings |
|
|
|
Total long-term borrowings |
1,767,110 |
1,963,464 |
|
Deferred tax liabilities |
|
|
|
Total deferred tax liabilities |
488,428 |
450,892 |
|
Other non-current liabilities |
|
|
|
Accrued pension liabilities |
18,909 |
4,978 |
|
Total other non-current liabilities |
18,909 |
4,978 |
|
Total non-current liabilities |
2,274,447 |
2,419,334 |
|
Total liabilities |
3,900,324 |
3,507,986 |
|
Equity |
|
|
|
Equity attributable to owners of parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
1,740,182 |
1,657,316 |
|
Total capital stock |
1,740,182 |
1,657,316 |
|
Capital surplus |
|
|
|
Total capital surplus |
10,300 |
9,319 |
|
Retained earnings |
|
|
|
Legal reserve |
687,141 |
643,703 |
|
Special reserve |
132,128 |
132,202 |
|
Unappropriated retained earnings (accumulated deficit) |
|
|
|
Total unappropriated retained earnings (accumulated deficit) |
1,963,749 |
1,540,226 |
|
Total retained earnings |
2,783,018 |
2,316,131 |
|
Other equity interest |
|
|
|
Exchange differences on translation of foreign financial statements |
|
|
|
Total exchange differences on translation of foreign financial
statements |
106,240 |
-15,039 |
|
Unrealized gains (losses) on available-for-sale financial assets |
|
|
|
Total unrealized gains (losses) on available-for-sale financial assets |
12 |
18,363 |
|
Total other equity interest |
106,252 |
3,324 |
|
Total equity attributable to owners of parent |
4,639,752 |
3,986,090 |
|
Non-controlling interests |
103,477 |
128,686 |
|
Total equity |
4,743,229 |
4,114,776 |
|
Number of share capital awaiting retirement |
0 |
0 |
|
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
|
Consolidated |
2014 |
2013 |
|
Operating revenue |
|
|
|
Net sales revenue |
|
|
|
Sales revenue |
|
|
|
Total sales revenue |
4,188,340 |
4,050,573 |
|
Net sales revenue |
4,188,340 |
4,050,573 |
|
Total operating revenue |
4,188,340 |
4,050,573 |
|
Operating costs |
|
|
|
Cost of sales |
|
|
|
Cost of sales |
2,886,535 |
3,128,876 |
|
Total cost of sales |
2,886,535 |
3,128,876 |
|
Total operating costs |
2,886,535 |
3,128,876 |
|
Gross profit (loss) from operations |
1,301,805 |
921,697 |
|
Gross profit (loss) from operations |
1,301,805 |
921,697 |
|
Operating expenses |
|
|
|
Selling expenses |
|
|
|
Total selling expenses |
297,537 |
278,198 |
|
Administrative expenses |
|
|
|
Total administrative expenses |
205,335 |
170,528 |
|
Research and development expenses |
|
|
|
Total research and development expenses |
4,584 |
5,886 |
|
Total operating expenses |
507,456 |
454,612 |
|
Net operating income (loss) |
794,349 |
467,085 |
|
Non-operating income and expenses |
|
|
|
Other income |
|
|
|
Total other income |
4,031 |
1,814 |
|
Other gains and losses |
|
|
|
Other gains and losses, net |
83,236 |
119,552 |
|
Finance costs |
|
|
|
Finance costs, net |
46,934 |
32,940 |
|
Total non-operating income and expenses |
40,333 |
88,426 |
|
Profit (loss) from continuing operations before tax |
834,682 |
555,511 |
|
Tax expense (income) |
|
|
|
Total tax expense (income) |
181,396 |
117,579 |
|
Profit (loss) from continuing operations |
653,286 |
437,932 |
|
Profit (loss) |
653,286 |
437,932 |
|
Other comprehensive income |
|
|
|
Exchange differences on translation |
125,024 |
38,801 |
|
Unrealised gains (losses) on valuation of available-for-sale financial
assets |
-18,343 |
-31,504 |
|
Actuarial gains (losses) on defined benefit plans |
-17,134 |
1,777 |
|
Income tax related to components of other comprehensive income |
3,034 |
-620 |
|
Other comprehensive income, net |
86,513 |
9,694 |
|
Total comprehensive income |
739,799 |
447,626 |
|
Profit (loss), attributable to: |
|
|
|
Profit (loss), attributable to owners of parent |
649,779 |
434,383 |
|
Profit (loss), attributable to non-controlling interests |
3,507 |
3,549 |
|
Comprehensive income attributable to: |
|
|
|
Comprehensive income, attributable to owners of parent |
735,547 |
444,622 |
|
Comprehensive income, attributable to non-controlling interests |
4,252 |
3,004 |
|
Basic earnings per share |
|
|
|
Total basic earnings per share |
3.73 |
2.50 |
|
Diluted earnings per share |
|
|
|
Total diluted earnings per share |
3.71 |
2.48 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 |
|
Cash flows from (used in) operating activities, indirect method |
|
|
|
Profit (loss) from continuing operations before tax |
834,682 |
555,511 |
|
Profit (loss) before tax |
834,682 |
555,511 |
|
Adjustments |
|
|
|
Adjustments to reconcile profit (loss) |
|
|
|
Depreciation expense |
323,341 |
291,043 |
|
Net loss (gain) on financial assets or liabilities at fair value
through profit or loss |
-218 |
126 |
|
Interest expense |
46,934 |
32,940 |
|
Interest income |
-1,911 |
-1,092 |
|
Dividend income |
-1,171 |
-722 |
|
Share-based payments |
1,506 |
1,872 |
|
Loss (gain) on disposal of property, plant and equipment |
-2,738 |
64 |
|
Property, plant and equipment transferred to expenses |
27,531 |
17,495 |
|
Loss (gain) on disposal of investments |
-17,636 |
-45,424 |
|
Impairment loss on financial assets |
0 |
0 |
|
Reversal of impairment loss on non-financial assets |
0 |
-2,300 |
|
Other adjustments to reconcile profit (loss) |
4,818 |
0 |
|
Total adjustments to reconcile profit (loss) |
380,456 |
294,002 |
|
Changes in operating assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in notes receivable |
-12,004 |
14,434 |
|
Decrease (increase) in accounts receivable |
-90,567 |
65,217 |
|
Decrease (increase) in inventories |
-55,755 |
129,387 |
|
Decrease (increase) in other current assets |
-8,728 |
4,126 |
|
Decrease (increase) in other financial assets |
-4,787 |
29,135 |
|
Total changes in operating assets |
-171,841 |
242,299 |
|
Changes in operating liabilities |
|
|
|
Increase (decrease) in notes payable |
6,852 |
-4,026 |
|
Increase (decrease) in accounts payable |
115,635 |
-268,926 |
|
Increase (decrease) in other payable |
50,527 |
3,132 |
|
Increase (decrease) in other current liabilities |
3,677 |
-15,303 |
|
Increase (decrease) in accrued pension liabilities |
-2,484 |
-2,847 |
|
Total changes in operating liabilities |
174,207 |
-287,970 |
|
Total changes in operating assets and liabilities |
2,366 |
-45,671 |
|
Total adjustments |
382,822 |
248,331 |
|
Cash inflow (outflow) generated from operations |
1,217,504 |
803,842 |
|
Interest received |
1,761 |
1,598 |
|
Dividends received |
1,171 |
722 |
|
Interest paid |
-46,812 |
-31,967 |
|
Income taxes refund (paid) |
-116,957 |
-39,680 |
|
Net cash flows from (used in) operating activities |
1,056,667 |
734,515 |
|
Cash flows from (used in) investing activities |
|
|
|
Acquisition of financial assets at fair value through other
comprehensive income |
-15,000 |
-10,000 |
|
Proceeds from disposal of financial assets at fair value through other
comprehensive income |
20,087 |
0 |
|
Acquisition of available-for-sale financial assets |
0 |
-85 |
|
Proceeds from disposal of available-for-sale financial assets |
30,922 |
119,110 |
|
Acquisition of financial assets at cost |
-74,097 |
-29,210 |
|
Proceeds from disposal of financial assets at cost |
0 |
474 |
|
Proceeds from capital reduction of financial assets at cost |
4,138 |
3,143 |
|
Acquisition of property, plant and equipment |
-248,163 |
-65,372 |
|
Proceeds from disposal of property, plant and equipment |
46,904 |
800 |
|
Increase in refundable deposits |
-6,214 |
0 |
|
Decrease in refundable deposits |
0 |
3,049 |
|
Increase in other non-current assets |
-1,012 |
0 |
|
Decrease in other non-current assets |
0 |
2,195 |
|
Increase in prepayments for business facilities |
-651,715 |
-913,285 |
|
Net cash flows from (used in) investing activities |
-894,150 |
-889,181 |
|
Cash flows from (used in) financing activities |
|
|
|
Increase in short-term loans |
255,300 |
0 |
|
Decrease in short-term loans |
0 |
-145,161 |
|
Proceeds from long-term debt |
0 |
817,040 |
|
Repayments of long-term debt |
-236,326 |
-126,299 |
|
Cash dividends paid |
-82,866 |
-78,919 |
|
Change in non-controlling interests |
-29,986 |
-655 |
|
Net cash flows from (used in) financing activities |
-93,878 |
466,006 |
|
Effect of exchange rate changes on cash and cash equivalents |
23,488 |
-112,994 |
|
Net increase (decrease) in cash and cash equivalents |
92,127 |
198,346 |
|
Cash and cash equivalents at beginning of period |
914,069 |
715,723 |
|
Cash and cash equivalents at end of period |
1,006,196 |
914,069 |
|
Cash and cash equivalents reported in the statement of financial
position |
1,006,196 |
914,069 |
Note: Subject didn’t submit its individual financial information; we
obtained its consolidated financials as above for reference.
The above financial
figures are based on the IFRSs Accounting System.
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
|
Name |
Ms. Lin |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
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.