MIRA
INFORM REPORT
|
Report No. : |
347466 |
|
Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRIANGLE TYRE Co., Ltd. |
|
|
|
|
Registered Office : |
No. 56, Qingdao Middle Road, Weihai, Shandong Province, 264200 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
22.02.2001 |
|
|
|
|
Com. Reg. No.: |
370000018066252 |
|
|
|
|
Legal Form : |
Shares Limited Company |
|
|
|
|
Line of Business : |
Subject is mainly
engaged in researching, developing, manufacturing and selling various kinds
of tyres, including radial tyres, bias tyres and so on. |
|
|
|
|
No. of Employees : |
4,921 (Including Subsidiaries) |
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 |
|
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. 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 for the first time in modern history. Still, China's per capita income is below the world average.
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 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 also 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 and Address
TRIANGLE TYRE Co., Ltd.
NO. 56, QINGDAO
MIDDLE ROAD,
WEIHAI, SHANDONG PROVINCE,
264200 PR CHINA
TEL: 86 (0)
631-5322983/5305527 FAX: 86 (0)
631-5321246
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 22, 2001
REGISTRATION NO. : 370000018066252
REGISTERED LEGAL FORM : SHARES LIMITED COMPANY
STAFF STRENGTH : 4,921 (INCLUDING
SUBSIDIARIES)
REGISTERED CAPITAL : CNY 600,000,000
BUSINESS LINE :
RESEARCHING, DEVELOPING, MANUFACTURING AND TRADING
TURNOVER : CNY
9,164,801,000 (Consolidated, As of Dec. 31, 2014)
EQUITIES : CNY
2,828,900,000 (Consolidated, As of Dec. 31, 2014)
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
WELL-KNOWN
EXCHANGE RATE : CNY 6.3078 = USD
1
Adopted
abbreviations:
ANS - amount not
stated
NS - not stated
SC - subject
company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a shares limited company at Shandong
Provincial Administration for Industry & Commerce (AIC - The official body
of issuing and renewing business license) on February 22, 2001.
Company Status: Shares limited co. This form of business in PR China
is defined as a legal person. Its registered capital is divided into shares
of equal par value and the co. raises capital by issuing share certificates
by promotion or by public offer. Shareholders bear limited liability to the
extent of shareholding, and the co. is liable for its debts only to the
extent of its total assets. The co has independent property of legal person
and enjoys property rights of legal person. The characteristics of
the shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be domiciled
in The minimum registered capital
of a co. is CNY The board of directors must
consist of five to nineteen directors. If the co. raises capital by public offer, the promoters
must not subscribe less than 35% of the total shares. the promoters’ shares
are restricted to transfer- within one year of the offer. A state-owned enterprise that
is restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered
business scope includes researching, manufacturing and selling tyres, rubber
products, rubber machinery, instruments and meters, chemical products (excluding hazardous chemicals), nylon cords,
steel wire cords and tyre raw materials, supplying related technology services;
importing and exporting within permitted scope; designing and installing
chemical engineering (in
accordance with license); leasing
machinery equipment and houses; warehouse services (excluding hazardous chemicals), loading, unloading and logistics
services; enterprises managing consulting services; recycling and wholesaling
renewable materials (excluding hazardous waste and permitted items). (with
permit if needed)
SC is mainly
engaged in researching, developing, manufacturing and selling various kinds of
tyres, including radial tyres, bias tyres and so on.
Mr. Ding Yuhua has
been legal representative and chairman of SC since 2001.
SC is known
to have approx. 4,921 (including subsidiaries) employees at present,
including 3,173 production staff, 552 management staff, 773 R & D staff,
108 financial staff, and 315 salesmen.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in Weihai. SC’s management declined to release
detailed information of the premise.
http://www.triangle.com.cn/
It is the website of Triangle Group. The design is professional and the content
is well organized. At present it is in both Chinese and English versions.
Email: jqgc@triangle.com.cn
Changes
of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2007 |
Registered capital |
CNY 240,000,000 |
Present amount |
|
2015-1-20 |
Shareholder’s name |
China National Chemical Construction Qingdao
Company |
China
National Chemical Construction Qingdao Co., Ltd. |
|
2015-9 |
Guilin Rubber Machinery Factory |
Guilin Rubber Machinery Co., Ltd. |
Organization code: 726700647
See below for SC as executive party (defendant).
|
Executed Party |
Triangle Tyre Co., Ltd. |
|
Court |
Weihai City Intermediate People's Court |
|
Date of Case |
|
|
Case Number |
(2011) 00040 |
|
Claim Amount |
RMB 43,299 |
|
Case Status |
Completed |
|
Executed Party |
Triangle Tyre Co., Ltd. |
|
Court |
Weihai City Huancui District People's
Court |
|
Date of Case |
|
|
Case Number |
(2011) 00487 |
|
Claim Amount |
RMB 10,123 |
|
Case Status |
Completed |
|
Executed Party |
Triangle Tyre Co., Ltd. |
|
Court |
Weihai City Intermediate People's Court |
|
Date of Case |
|
|
Case Number |
(2011) 00061 |
|
Claim Amount |
RMB
29,911,620 |
|
Case Status |
Completed |
|
Executed Party |
Triangle Tyre Co., Ltd. |
|
Court |
Weihai City Huancui District People's Court
|
|
Date of Case |
|
|
Case Number |
(2011) 00679 |
|
Claim Amount |
RMB
120,008.2 |
|
Case Status |
Completed |
|
Executed Party |
Triangle Tyre Co., Ltd. |
|
Court |
Weihai City Huancui District People's
Court |
|
Date of Case |
|
|
Case Number |
(2008) 00391 |
|
Claim Amount |
RMB 42,393 |
|
Case Status |
Completed |
|
Executed Party |
Triangle Tyre Co., Ltd. |
|
Court |
Weihai City Huancui District People's
Court |
|
Date of Case |
|
|
Case Number |
(2011) 00084 |
|
Claim Amount |
RMB 0 |
|
Case Status |
Completed |
|
Executed Party |
Triangle Tyre Co., Ltd. |
|
Court |
Weihai City Huancui District People's
Court |
|
Date of Case |
|
|
Case Number |
(2012) 00494 |
|
Claim Amount |
RMB 84,062 |
|
Case Status |
Completed |
Etc.
Remark: Due to the lack of information, we are unable to provide the cause of
action, judgment or other information.
MAIN
SHAREHOLDERS (as of June 4, 2015):
Name %
of Shareholding
Triangle Group Co., Ltd. 75.79
CNHTC Jinan Investment Co., Ltd. 10.00
Chifa Electronic Vehicle Technology Co.,
Ltd. (in Chinese Pinyin)
1.50
Guilin Rubber Machinery Co., Ltd. 0.55
China National Chemical Construction Qingdao
Co., Ltd. 0.30
Weihai Rubber & Chemical Industry Imp.
& Exp. Co., Ltd. 0.27
Beijing Research and Design Institute of
Rubber Industry 0.14
Rongcheng Fusheng Trade Co., Ltd. 0.20
Ding Yuhua 4.62
Shan Guoling 2.56
Hou Rucheng 2.22
Wang Wenhao 1.16
Other 19 individuals
0.69
Triangle Group Co., Ltd.
==================
Triangle Group’s major products are
commercial tires, passenger tires, OTR (off-the-road) tires, jumbo OTR tires
and special tires, etc. Annual tire capacity reached 23 million units up to
now, while the radial tires rate is 99%. Triangle has national-class R&D
center, post-doctoral research station and American Akron R&D center. The
sole national engineering laboratory of Chinese tire industry was also located
in Triangle. It carries out strategic cooperation with Tianjin University,
Harbin University, Beijing University of Technology, University of Akron and
Beijing Rubber Industry Design and Research Institute.
Incorporation date: 1997-9-26
Legal representative: Ding Yuhua
Registration No.: 371000228017709
Website: http://www.triangle.com.cn/
It is jointly occupying the heading premise with SC.
Tel: 86-631-5322983
Fax: 86-631-5321246
CNHTC Jinan Investment Co., Ltd.
=========================
Legal representative: Zhang Liangjie
Registration No.: 370100000036987
Chifa Electronic Vehicle Technology Co.,
Ltd. (in Chinese Pinyin)
=============================================
Legal representative: Lai Zhichuan
Registration No.: 350602100026189
Guilin Rubber Machinery Co., Ltd.
=========================
Located in southern Guilin, GRM is a
high-tech enterprise approved by China Science and Technology Committee. GRM is
specialized in developing and manufacturing rubber machinery. It has the
certificate of A1 design and manufacture of pressure vessel.
Incorporation date: 1989-6-24
Legal representative: Li Dongping
E-mail:
sales@grm.com.cn
Tel: 86-773-3885456
Fax: 86-773-3883875
China National Chemical Construction Qingdao
Co., Ltd.
========================================
Incorporation date: 1984-12-22
Legal representative: Chen Hong
Registration No.: 370202018028858
Weihai Rubber & Chemical Industry Imp.
& Exp. Co., Ltd.
===========================================
Incorporation date: 1992-11-17
Legal representative: Wang Shouhua
Registration No.: 371000228018468
Beijing Research and Design Institute of
Rubber Industry
========================================
Beijing Research and Design Institute of
Rubber Industry is China’s oldest and largest State-level scientific research
and design institute for the rubber industry and is affiliated with the China
National Tire & Rubber Corp. It has a master’s degree program in polymer
materials and a reputation that extends beyond China.
Legal representative: Li Gaoping
Registration No.: 110000002598177
Tel: 010-51338031
Fax: 010-51338032
Rongcheng Fusheng Trade Co., Ltd.
===========================
Legal representative: Zhang Liming
Registration No.: 371082200002670
l
Legal representative and chairman:
Mr. Ding Yuhua, born in 1948 with Doctor’s
degree, senior economist, engineering technology application researcher,
national outstanding party workers, National Model Worker, enjoying the State
Council special allowance. He is currently responsible for the overall
management of SC.
Working Experience(s):
From 2001 to present Working in SC as
legal representative and chairman;
Also working in Triangle
Group Co., Ltd., Triangle (Weihai) Huasheng Tyre Co., Ltd., Triangle (Weihai)
Huaan Logistics Co., Ltd., Triangle (Weihai) Huada Tyre Refresh Co., Ltd., etc.
as legal representative
l General Manager:
Mr. Pierre E.Cohade, born in 1961, French,
with Master’s degree. He is currently responsible for the daily management of
SC.
Working Experience(s):
At
present Working in SC as general manager.
l
Directors:
Wang
Zusheng
Shan
Guoling
Lin
Xiaobin
Chi
Lei
Geng
Jianxin
Li
Xiande
Ding
Mu
Yu
Yong
l
Supervisors:
Wei
Nan
Gu
Zhifu
Deng
Shitao
Li
Qiuhong
Wang
Lifang
SC is mainly engaged
in researching, developing, manufacturing and selling various kinds of tyres,
including radial tyres, bias tyres and so on.
SC’s products
mainly include car tyres, light truck tyres, special tyres, etc.
Brand:
SC has provided
tyres to auto manufactures such as FAW, Dong Feng Motor Corp, Shanxi Motor
Corp., Golden Dragon, and so on. In the international market, it has
established strategic partnership with Caterpillar, Volvo, Goodyear, and so on.
SC sources its materials 80% from domestic
market, and 20% from overseas market. SC sells 40% of its products in domestic
market, and 60% to overseas market, mainly America, Algeria, Russia, Mexico,
etc.
The buying terms of SC include Check, T/T, L/C and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Major suppliers:
………………..
Shandong Best Chemical Co., Ltd.
Jiangsu Xingda Steel Curtain Line Co., Ltd.
Shandong Shengtong Steel Curtain Line Co., Ltd.
Major Clients:
………………
FAW Jiefang Automobile Co., Ltd.
SAIC-GM-Wuling Automobile Co., Ltd.
CNHTC Jinan Truck Co., Ltd.
Etc.
TRADEMARKS & PATENTS
|
Registration No. |
11792129 |
11792223 |
14142928 |
|
Registration Date |
2014-5-7 |
2014-5-7 |
2015-7-14 |
|
Trademark Design |
|
|
|
Etc.
SC is known to invest in the following companies:
Triangle
(Weihai) Huasheng Tyre Co., Ltd.
…………………………………………..
Legal
representative: Ding Yuhua
Registration
No.: 371021018807634
Triangle
(Weihai) Huaan Logistics Co., Ltd.
……………………………………………..
Legal
representative: Ding Yuhua
Registration
No.: 371000228025188
Triangle
(Weihai) Huada Tyre Refresh Co., Ltd.
……………………………………………..
Legal
representative: Ding Yuhua
Registration
No.: 371081228008455
Triangle
America Tyre Technology Center Inc.
Etc.
SC
is known to have the following branches:
Triangle
Tyre Co., Ltd. Weihai Renewable Resources Branch
==============================================
Incorporation
date: 2009-9-17
Registration
no.: 371000300000808
Principal:
Wang Tianying
Triangle
Tyre Co., Ltd. Weihai Huamao Rubber Science Technology Branch
=======================================================
Incorporation
date: 2009-11-23
Registration
no.: 371000100000754
Principal:
Wang Zusheng
Triangle
Tyre Co., Ltd. Weihai Tire Design and Manufacturing Process Institute
=======================================================
Incorporation
date: 2012-11-26
Registration
no.: 371022100000202
Principal:
Deng Shitao
Triangle
Tyre Co., Ltd. Weihai Huayang Rubber Science Technology Branch
=======================================================
Incorporation
date: 2014-6-17
Registration
no.: 371081300019292
Principal:
Fang Yuantao
Etc.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet 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.
Industrial & Commercial Bank of China Weihai Economic &
Technological Development Zone Sub-branch
AC#：1614010209022100261
Relationship:
Normal.
Consolidated
Balance Sheet
Unit: CNY’000
|
|
as of
Dec. 31, 2014 |
as of Dec.
31, 2013 |
|
Cash & bank |
2,504,752 |
1,721,679 |
|
Notes receivable |
272,772 |
538,229 |
|
Inventory |
1,313,236 |
1,103,698 |
|
Accounts receivable |
421,386 |
483,439 |
|
Advances to suppliers |
65,288 |
163,052 |
|
Other receivables |
2,842 |
6,326 |
|
Other current assets |
69,089 |
49,048 |
|
|
------------------ |
------------------ |
|
Current assets |
4,649,365 |
4,065,471 |
|
Financial assets available for sale |
1,959 |
0 |
|
Investment property |
3,578 |
3,708 |
|
Long-term investments |
0 |
0 |
|
Fixed assets net value |
2,952,498 |
2,854,201 |
|
Projects under construction |
510,296 |
434,650 |
|
Intangible assets |
456,705 |
342,345 |
|
Long-term deferred expense |
2,322 |
913 |
|
Deferred income tax assets |
27,817 |
23,501 |
|
Other assets |
0 |
0 |
|
|
------------------ |
------------------ |
|
Total assets |
8,604,540 |
7,724,789 |
|
|
============= |
============= |
|
Short loans |
100,000 |
0 |
|
Notes payable |
771,870 |
556,380 |
|
Accounts payable |
1,757,594 |
1,794,407 |
|
Advances from customers |
220,564 |
203,669 |
|
Employee pay payable |
11,981 |
15,670 |
|
Interest payable |
35,736 |
32,944 |
|
Taxes payable |
37,351 |
73,698 |
|
Other accounts payable |
200,574 |
172,775 |
|
Non- current liabilities due within one year |
713,310 |
456,655 |
|
Other current liabilities |
0 |
0 |
|
|
----------------- |
----------------- |
|
Current liabilities |
3,848,980 |
3,306,198 |
|
Non- current liabilities |
1,926,660 |
1,403,164 |
|
|
------------------ |
------------------ |
|
Total liabilities |
5,775,640 |
4,709,362 |
|
Shareholders equities |
2,828,900 |
3,015,427 |
|
|
------------------ |
------------------ |
|
Total liabilities & equities |
8,604,540 |
7,724,789 |
|
|
============= |
============= |
Consolidated
Income Statement
Unit: CNY’000
|
|
as of Dec. 31, 2014 |
as of Dec. 31, 2013 |
|
Turnover |
9,164,801 |
10,062,547 |
|
Cost of goods
sold |
7,041,522 |
8,051,753 |
|
Taxes and
additional of main operation |
71,609 |
62,203 |
|
Sales expense |
390,757 |
366,203 |
|
Management expense |
345,108 |
376,889 |
|
Finance expense |
119,849 |
151,155 |
|
Asset impairment loss |
30,110 |
16,225 |
|
Investment
income |
-5,259 |
5,129 |
|
Non-operating
income |
20,247 |
19,924 |
|
Non-operating expense |
4,831 |
5,905 |
|
Profit before
tax |
1,176,003 |
1,057,267 |
|
Less: profit tax |
162,566 |
153,947 |
|
Net profit |
1,013,437 |
903,320 |
Important Ratios
=============
|
|
As of Dec. 31, 2014 |
As of Dec. 31, 2013 |
|
*Current ratio |
1.21 |
1.23 |
|
*Quick ratio |
0.87 |
0.90 |
|
*Liabilities to assets |
0.67 |
0.61 |
|
*Net profit margin (%) |
11.06 |
8.98 |
|
*Return on total assets (%) |
11.78 |
11.69 |
|
*Inventory /Turnover ×365 |
53 days |
41 days |
|
*Accounts receivable/Turnover ×365 |
17 days |
18 days |
|
*Turnover/Total assets |
1.07 |
1.30 |
|
* Cost of goods sold/Turnover |
0.77 |
0.80 |
PROFITABILITY:
GOOD
l
The turnover of SC appears good in its line in both
years, but it decreased in 2014.
l
SC’s net profit margin is fairly good in 2013 and
good in 2014.
l
SC’s return on total assets is good in both years.
l
SC’s cost of goods sold is average in both years,
comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both years.
l
SC’s quick ratio is maintained in a normal level in
both years.
l
The inventory of
SC appears fairly large in both years.
l
The accounts receivable of SC appears average in
both years.
l SC has no
short-term loan in 2013 but it appears average in 2014.
l
SC’s turnover is in an average level in both years,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Stable.
SC is considered large-sized in its line with stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.45 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.