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Report No. : |
344829 |
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Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
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Name : |
UNITED RAW MATERIAL SOLUTIONS INC. |
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Registered Office : |
11th Floor, No.167, Fuxing North Road,
Songshan District, Taipei City 10560, Taiwan (R.O.C.) |
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Country : |
Taiwan |
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Date of Incorporation : |
17.11.2003 |
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Com. Reg. No.: |
80542219 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trading of Plastic and Petrochemical Raw
Materials |
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No. of Employees : |
About 60 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Taiwan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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. 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, follow-on components of the ECFA, including a signed agreement on trade in services and negotiations on trade in goods and dispute resolution, have stalled. In early 2014, the government bowed to public demand and proposed 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 nearly 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 fifth largest, behind those of China, Japan, Saudi Arabia, 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, the Taiwan Central Bank signed a memorandum of understanding (MOU) 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 Taiwan’s 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 decent entry-level jobs.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
11th
Floor, No.167, Fuxing North Road, Songshan District, Taipei City 10560,
Taiwan (R.O.C.) |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
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E-mail: |
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Notes: The exact name and address are as above.
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Registered Name: |
United Raw Material Solutions Inc. |
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Registered Address: |
11th Floor, No.167, Fuxing North
Road, Songshan District, Taipei City 10560, Taiwan (R.O.C.) |
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Date of Foundation: |
2003-11-17 |
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Registration Number: |
80542219 |
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Registry: |
Taipei City Government |
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Registered Capital: |
NTD 297,650,400
(USD 9,227,162.4) (As of 2015.10, 1 NTD = 0.031 USD) |
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Paid-up Capital: |
NTD 115,850,680 (USD
3,591,371.08) |
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Legal Representatives: |
Jinglun Lin |
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Legal Form: |
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Principal Activities: |
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Staff: |
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Listed at Stock Exchange: |
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Date of Last Annual Return: |
Subject was incorporated
on 2003-11-17 with registered number 80542219
as Joint Stock Company in
Taiwan.
Change of Address:
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Current Address |
11th Floor, No.167, Fuxing North
Road, Songshan District, Taipei City 10560, Taiwan (R.O.C.) |
|
Former Address |
5F., No.35, Ln. 11, Guangfu N. Rd., Songshan
Dist., Taipei City 10560, Taiwan (R.O.C.) |
Major Related
Companies
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1 |
|
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Name |
Emers Industrial Corporation |
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Address |
5F., No.35, Ln. 11, Guangfu N. Rd., Songshan Dist., Taipei City 10560,
Taiwan (R.O.C.) |
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2 |
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Name |
Formosa Industries Corporation |
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Address |
Nhon Trach 3 Industrial Zone, Nhon Trach District, Dong Nai Province,
Vietnam |
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3 |
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Name |
Formosa Chemicals & Fibre Corporation |
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Address |
359, Chung Shan Rd., Sec.3, Chuang Hwa City, Taiwan; Changhua County,
Taiwan |
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4 |
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Name |
Formosa Plastics Corporation |
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Address |
201 Tung Hwa North Rd, Taipei, Taiwan |
Major Shareholders
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Name |
Subscription Shares |
|
Jinglun Lin |
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4,634,238 |
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Jingzhe Lin |
422,672 |
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Jingyuan Lin |
359,721 |
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Qianhui Lin |
479,629 |
|
Yixiong Lin |
1,648 |
Core Management
Directors
|
1 |
|
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Name |
Jinglun Lin |
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Position |
Chairman of the Board |
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2 |
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Name |
Jingzhe Lin |
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Position |
Director |
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3 |
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Name |
Jingyuan Lin |
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Position |
Director |
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4 |
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Name |
Qianhui Lin |
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Position |
Supervisor |
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5 |
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Name |
Yixiong Lin |
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Position |
Supervisor |
Personnel Structure
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Total Employees |
About 60 Employees |
Offices & Factories
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Headquarters |
|
Add |
11th Floor, No.167, Fuxing North Road, Songshan District,
Taipei City 10560, Taiwan (R.O.C.) |
Production Information
Subject is a trader of plastic and petrochemical raw materials without
any production activities.
Purchase Information
The registered activities of subject:
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Business Code |
Details |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
The products of subject are purchased from both home and abroad.
We obtained some of subject’s major suppliers’ information as follows
for reference.
|
Type |
Product |
Supplier |
|
Textile raw materials |
Viscose Rayon, Viscose Cotton, Nylon Fiber, Polyester Fiber |
China Man-Made Fiber Corporation |
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-- |
HUALON (Malaysia) |
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Polyester Staple Fiber |
Tuntex Distinct Corp. |
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Viscose |
Formosa Chemicals & Fibre Corporation |
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Draw Texturing Yarn |
Tuntex Distinct Corp. |
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Polyester Pre-Oriented Yarn |
Taiwan Polypropylene Co., Ltd |
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Plastic raw material |
ABS |
Formosa Chemicals & Fibre Corporation Great Eastern Resins Industrial Co., Ltd Taita Chemical Co., Ltd |
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EVA |
Formosa Plastics Corporation USI Corporation |
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PP/PE |
Formosa Chemicals & Fiber Corporation Formosa Plastics Corporation Korea Petrochemical Industrial Co., Ltd Taiwan Polypropylene Co., Ltd Titan Polyethylene (Malaysia) Sdn. Bhd TPI Polene Public Company Limited USI Corporation Yung Chia Chemical Industries Corporation Hanwha Corporation Siam Chemical Trading Daelim Corporation |
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PS |
Eternal Chemical Formosa Chemicals & Fibre Corporation Supreme Petrochem LTD Taita Chemical Co., Ltd |
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PVC |
Apex Petrochemical Co., Ltd China General Plastics Corp Hanwha Corporation Jiamin Textile Co., Ltd Korea Petrochemical Industrial Co., Ltd Formosa Plastics Corporation |
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Petrochemical |
Plasticizers |
Formosa Chemicals & Fiber Corporation |
Subject is engaged in sales of plastic and
petrochemical raw materials.
Subject’s sales regions include domestic market, Southeast Asia and
Europe.
It is introduced that subject’s major customers are Queen Gil Co., Ltd
and Asian Business Group S.A.S.
It is introduced that subject’s major cooperative shipping companies are
Yang Ming, YES Logistics Corp., Evergreen, Wan Hai Lines Ltd., K-Line, T. S.
Lines and Cosco.
Major Products
|
Type |
Product |
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Textile raw materials |
Polyester, Nylon, Viscose |
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Plastic raw material |
EVA, PE, PP, PS, PVC, SAN, PA, PET |
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Petrochemical raw materials |
PTA, MEG, PET CHIP, PX, 1.4BG, THF |
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Electronics |
LCD Optical Protection Film, Flash Drive |
Import and export right:
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Import right |
Yes |
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Export right |
Yes |
Domestic
Purchase
|
Plastic and
petrochemical products |
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Payment Terms |
T/T, Cash |
Import
|
Plastic and
petrochemical products |
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Payment Terms |
L/C, T/T |
Sales
Domestic Markets
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Product |
Plastic and
petrochemical products |
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Selling Terms |
T/T, Cash |
Export
|
Product |
Plastic and
petrochemical products |
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Selling Terms |
L/C, T/T |
Subject has no obligations to disclose its financial
statements to the third party according to the relevant policy in Taiwan and
the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff declined to disclose
its financials citing the grounds of company’s confidentiality; from other
source we cannot obtain the relevant information, either
|
Name |
Hong Kong and Shanghai Banking Corporation |
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
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1 |
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2005, Jian, 2881 |
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Date of Trial: |
2006-03-14 |
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Reason: |
Labor standards law |
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Claimant: |
Taipei District Prosecutors Office
Procurator |
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Defendant: |
United Raw Material Solutions Inc. |
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2 |
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Trial Number: |
2005, Guomao, 8 |
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Date of Trial: |
2005-10-11 |
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Reason: |
Payment for goods |
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Claimant: |
Not Stated |
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Defendant: |
United Raw Material Solutions Inc. |
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Name |
Mr. Zhang |
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Department |
Sales Department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
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|
1 |
Rs.100.55 |
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Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.