|
Report No. : |
345603 |
|
Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KAO FONG MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
No.16, Keya Rd., Daya Dist., Taichung City
428 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
03.02.1979 |
|
|
|
|
Com. Reg. No.: |
55857746 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of machinery. |
|
|
|
|
No. of Employee : |
About 220 |
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) |
|
Taiwan |
A1 |
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.
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.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.16, Keya Rd., Daya Dist., Taichung City
428, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-4-2566-2116 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as above.
Subject was incorporated on 1979-02-03 with registered number 55857746 as Joint Stock Company in
Taiwan.
Subject listed on
Taiwan Over-The-Counter Securities Exchange on 1998-02-24.
Factory
|
Address: |
No.16, Keya Rd.,
Daya Dist., Taichung City 428, Taiwan (R.O.C.) |
|
Date of
Registration: |
2007-10-22 |
|
Factory
Registration Number: |
93A00006 |
|
Factory Manager: |
Guorong Shen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2010-08-04 |
|
Major Products: |
292 Other special
machinery equipment 251 Metal hand
tool and moulds 291 Metal
processing machinery equipment 259 Other metal
products 293 General
machinery equipment |
Related Companies
|
1 |
|
|
Name |
Maxture
Technology Sdn Bhd |
|
Address: |
No.25 Jalan Bulan
U5/166 Bandar Pinggiran Subang 40150 Shah Alam, Malaysia |
|
Tel: |
+60-12-216-5586/+60-12-219-9686 |
|
Fax: |
+60-3-7846-6160 |
|
E-mail: |
|
|
2 |
|
|
Name |
PT. Javatec Trimitra
Machinery |
|
Address: |
Jl. Kranji Blok F
18 No.17E Delta Silicon 3, Lippo Cikarang, Bekasi 17550 - Indonesia |
|
Tel: |
+62-21-8990-9099 |
|
Fax: |
+62-21-8990-8787 |
|
E-mail: |
|
|
3 |
|
|
Name |
Takawa Seiki,
Inc. |
|
Address: |
15348 Valley
Blvd., City of industry, CA 91746 |
|
Tel: |
+626-387-5428 |
|
Fax: |
+626-387-5453 |
|
4 |
|
|
Name |
Kao Fong Machinery (Kunshan) Co., Ltd. (Literal Translation) |
|
Address: |
No. 306, S.
Qingyang Rd., Economic and Technological Development Zone, Kunshan City,
Jiangsu Province |
|
Tel: |
+86-512-5771-7009 |
|
Fax: |
+86-512-5770-5293 |
|
E-mail: |
|
Agents
|
1 |
|
|
Address: |
Rm.8, 4/F, No.7 1st
Wuquan Rd., Xinzhuang City, Taiwan |
|
Tel: |
+886-2- 2299-5537 |
|
Fax: |
+886-2-2299-6021 |
|
E-mail: |
|
|
2 |
|
|
Address: |
1/F, No.45, Jilin
Rd., Jhongli City, Taoyuan County, Taiwan |
|
Tel: |
+886-3-392-2129 |
|
Fax: |
+886-3-360-7109 |
|
3 |
|
|
Address: |
No. 321, 2nd
Zhongzheng St., Yongkang City, Tainan County, Taiwan |
|
Tel: |
+886-6-253-9299 |
|
Fax: |
+886-6-243-2975 |
|
4 |
|
|
Address: |
No. 446, Zhongxin
Rd., Zuoying Dist., Kaohsiung City, Taiwan |
|
Tel: |
+886-7-359-0698 |
|
Fax: |
+886-7-359-0987 |
Major Shareholders
|
Name |
Subscription Shares |
|
Hezuan Investment Co., Ltd. (Literal Translation) |
|
|
15,697,826 |
|
|
Far East
Machinery Co., Ltd. |
291,194 |
|
Haoqing
Investment Co., Ltd. (Literal Translation) |
1,487,855 |
|
Youzhen Family
Asset Management Co., Ltd. (Literal
Translation) |
34,629 |
|
Yuzheng Zhang |
22,066 |
|
Qianci Shen |
159,788 |
|
Fengyi Huang |
1,611,000 |
|
Lin Ke Co., Ltd.
BVI (Literal
Translation) |
473,668 |
Shareholders’
Information:
|
1 |
|
|
Registered Name: |
Hezuan Investment
Co., Ltd. (Literal Translation) |
|
Registered Address: |
7/F., No.391, Chenggong Road, Ruicheng Li, Dali District, Taichung
City, Taiwan |
|
Date of Foundation: |
2005-12-09 |
|
Registration Number: |
28051373 |
|
Registry: |
Taichung City Government |
|
Registered Capital: |
NTD 200,000,000 (USD 6,200,000) (As of 2015.10, 1 NTD = 0.031 USD) |
|
Paid-up Capital: |
NTD 178,510,000 (USD 5,533,810) |
|
Legal Representatives: |
Guorong Shen |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2015-07-28 |
|
2 |
|
|
Registered Name: |
Far East Machinery
Co., Ltd. |
|
Registered Address: |
No. 752 Chung Hsiao Rd., Chiayi City, Taiwan |
|
Date of Foundation: |
1963-10-09 |
|
Registration Number: |
65818201 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 1,400,000,000 (USD 43,400,000) (As of 2015.10, 1 NTD = 0.031 USD) |
|
Paid-up Capital: |
NTD 1,167,310,000 (USD 36,186,610) |
|
Legal Representatives: |
Guohui Zhuang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-09-12 |
|
3 |
|
|
Registered Name: |
Haoqing
Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
1/F., No.572, Sec 6, Huanzhong East Road, Dali District, Taichung City,
Taiwan |
|
Date of Foundation: |
2005-04-15 |
|
Registration Number: |
27669764 |
|
Registry: |
Taichung City Government |
|
Registered Capital: |
NTD 12,500,000 (USD387,500) (As of 2015.10, 1 NTD = 0.031 USD) |
|
Legal Representatives: |
Yongcang Sun |
|
Legal Form: |
Private Limited Liabilities Company |
|
Date of Last Annual Return: |
2014-03-06 |
|
4 |
|
|
Registered Name: |
Youzhen Family Asset Management Co., Ltd. (Literal Translation) |
|
Registered Address: |
2/F., No.168, Sec 2, Bo-ai Road, Houyi Li, West District, Jiayi County,
Taiwan |
|
Date of Foundation: |
2007-04-13 |
|
Registration Number: |
28642856 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
NTD 1,000,000 (USD 31,000) (As of 2015.10, 1 NTD = 0.031 USD) |
|
Legal Representatives: |
Huimei Zhuang |
|
Legal Form: |
Private Limited Liabilities Company |
|
Date of Last Annual Return: |
2012-07-20 |
Core Management
Directors
|
1 |
||
|
Name |
Guorong Shen |
|
|
Position |
Chairman of the
Board & Manager |
|
|
Date of
Appointment for Manager |
2010-07-12 |
|
|
2 |
||
|
Name |
Yishan Chen |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Rongdong Liao |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Shuixiang Shen |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Qingshou Sun |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Yuzheng Zhang |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Mingxin Guo |
|
|
Position |
Director |
|
|
8 |
||
|
Name |
Qianci Shen |
|
|
Position |
Supervisor |
|
|
9 |
||
|
Name |
Fengyi Huang |
|
|
Position |
Supervisor |
|
|
10 |
||
|
Name |
Zhongxian Zhang |
|
|
Position |
Supervisor |
|
Personnel Structure
|
Total Employees |
About 220 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.16, Keya Rd.,
Daya Dist., Taichung City 428, Taiwan (R.O.C.) |
Production Information
Subject is engaged
in manufacturing of machinery
Subject has a
factory in Taiwan for production.
Subject obtained the
certification of ISO 9001 and ISO 14001.
Purchase Information
The
registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of
machinery |
|
CP01010 |
Manufacturing of
hand tool |
|
Research, development,
design, manufacturing and sales the following items: |
|
|
-- |
Semiconductor
processes for the vacuum pump |
|
-- |
Linear motor
machine tool |
|
-- |
Plasma machine is
used technique is applied to vertical center machine VMC850 |
|
-- |
Wafer cleaning
machine |
|
-- |
Import, export
and agent of the above related products |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted |
The components and raw
material for production are purchased from both home and abroad.
It is introduced
that subject’s major suppliers are Jea Sheng Industry Co., Ltd., Yuan Jun Fong
Casting Co., Ltd., “Fanuc”, “Mitsubishi Electric” and “Siemens”
Subject is engaged in sales of machinery
The major products
of subject are horizontal machining center, vertical machining center, CNC
gantry milling machine, five-face double column machining center
Subject’s sales
regions include domestic market, Southeast Asia, North America and Europe,
One of subject’s
major customers is Camex Machinery, Inc (USA).
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purhase
Domestic
Purchase
|
Products |
Raw materials and components |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Raw materials and components |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Machinery |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Machinery |
|
Selling Terms |
L/C, T/T |
Unit: NTD/000
|
Consolidated |
2014-12-31 |
2013-12-31 |
|
Current assets |
|
|
|
Cash and cash equivalents |
355,043 |
338,388 |
|
Current available-for-sale financial assets, net |
360,193 |
262,050 |
|
Notes receivable - net |
98,773 |
60,985 |
|
Net notes receivable - related party |
485 |
16,531 |
|
Accounts receivable - net |
432,839 |
268,875 |
|
Accounts receivable - related parties - net |
27,606 |
28,089 |
|
Other receivables, net |
13,235 |
8,859 |
|
Inventories |
710,733 |
564,334 |
|
Prepayment |
55,027 |
14,517 |
|
Other current assets |
7,983 |
8,883 |
|
Total current assets |
2,061,917 |
1,571,511 |
|
Non-current assets |
|
|
|
Current financial assets valued by the cost, net |
138,767 |
86,082 |
|
Investment by equity method, net |
3,556 |
4,728 |
|
Real property, plant and equipment |
1,272,991 |
940,906 |
|
Net investment real estate |
41,324 |
36,028 |
|
Intangible assets |
3,771 |
3,433 |
|
Deferred income tax assets |
12,930 |
12,509 |
|
Other non-current assets |
35,310 |
8,757 |
|
Non-current assets |
1,508,649 |
1,092,443 |
|
Assets |
3,570,566 |
2,663,954 |
|
Current liabilities |
|
|
|
Short-term borrowing |
459,094 |
279,246 |
|
Short-term notes payable |
40,000 |
40,000 |
|
Financial liabilities measured at fair value through profit or loss -
current |
0 |
2,809 |
|
Notes payable |
3,262 |
2,097 |
|
Accounts payable |
273,947 |
230,737 |
|
Other payables |
104,270 |
75,000 |
|
Tax liabilities |
27,261 |
19,057 |
|
Liability reserve-current |
7,777 |
7,775 |
|
Other current liabilities |
30,596 |
177,264 |
|
Current liabilities |
946,207 |
833,985 |
|
Non-current liabilities |
|
|
|
Long-term borrowings |
763,100 |
396,100 |
|
Deferred income tax liabilities |
4,091 |
1,744 |
|
Other non-current liabilities |
25,274 |
23,345 |
|
Non-current liabilities |
792,465 |
421,189 |
|
Liabilities |
1,738,672 |
1,255,174 |
|
Equity attributable to owners of parent |
|
|
|
Share Capital |
|
|
|
Ordinary share |
1,080,107 |
894,334 |
|
Total capital stock |
1,080,107 |
894,334 |
|
Capital surplus |
|
|
|
Total capital surplus |
270,497 |
180,497 |
|
Retained earnings |
|
|
|
Total retained earnings |
308,621 |
229,985 |
|
Other equity |
|
|
|
Other equity |
169,409 |
100,573 |
|
Total equity attributable to owners parent |
1,828,634 |
1,405,389 |
|
Non-controlling interests |
3,260 |
3,391 |
|
Total equity |
1,831,894 |
1,408,780 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 |
|
Operating income |
2,095,770 |
2,019,967 |
|
Operating costs |
1,599,437 |
1,576,320 |
|
Gross profit (loss) from operations |
496,333 |
443,647 |
|
Implemented sales profit (loss) |
0 |
43 |
|
Gross profit (loss) from operations, net |
496,333 |
443,690 |
|
Operating expense |
|
|
|
Selling expense |
181,267 |
181,906 |
|
Administrative expense |
88,178 |
77,793 |
|
Research and development expenses |
38,455 |
27,295 |
|
Operating expenses |
307,900 |
286,994 |
|
Operating profit (loss) |
188,433 |
156,696 |
|
Non-operating revenues and costs |
|
|
|
Other income |
18,787 |
8,552 |
|
Other gains and losses, net |
19,308 |
12,127 |
|
Finance costs, net |
17,730 |
14,368 |
|
Share of profit (loss) of associates and joint
ventures accounted for using equity method, net |
-1,172 |
-2,690 |
|
Total non-operating income and expenses |
19,193 |
3,621 |
|
Profit (loss) from continuing operations before tax |
207,626 |
160,317 |
|
Tax expense (profit) |
38,153 |
26,494 |
|
Profit (loss) from continuing operations |
169,473 |
133,823 |
|
Profit (loss) |
169,473 |
133,823 |
|
Other comprehensive profit and loss (net) |
|
|
|
Exchange differences on translation |
7,685 |
8,561 |
|
Available for sale of the unrealized evaluation profit (loss) of
financial assets |
62,620 |
168,367 |
|
Actuarial gains (losses) on defined benefit plans |
-1,731 |
1,380 |
|
Income tax related to components of other comprehensive income |
1,273 |
1,459 |
|
67,301 |
176,849 |
|
|
Total comprehensive income |
236,774 |
310,672 |
|
Net profit (loss) attributable to: |
|
|
|
Profit (loss), attributable to owners of parent |
169,800 |
134,008 |
|
Profit (loss), attributable to non-controlling interests |
-327 |
-185 |
|
Comprehensive income, attributable to: |
|
|
|
Comprehensive income, attributable to owners of parent |
236,905 |
310,881 |
|
Comprehensive income, attributable to non-controlling interests |
-131 |
-209 |
|
Basic earnings per share |
1.76 |
1.44 |
|
Diluted earnings per share |
1.76 |
1.44 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 |
|
Cash Flows from Operating Activities -
Indirect Method |
|
|
|
Profit (loss)
from continuing operations before tax |
207,626 |
160,317 |
|
Profit (loss)
before tax |
207,626 |
160,317 |
|
Depreciation
expense |
33,859 |
33,418 |
|
Amortization
expense |
1,638 |
1,209 |
|
Provision (Reversal of Provision) for Bad
Debts Losses |
1,444 |
361 |
|
Net loss (gain)
on financial assets or liabilities at fair value through profit or loss |
-2,809 |
-690 |
|
Interest expense |
17,730 |
14,368 |
|
Interest income |
-2,404 |
-287 |
|
Dividend income |
-9,771 |
-2,390 |
|
Share of profit (loss) of associates and
joint ventures accounted for using equity method, net |
1,172 |
2,690 |
|
Loss (gain) on
disposal of property, plant and equipment |
25 |
-824 |
|
Disposal of investment
profit (loss) |
-548 |
1,013 |
|
Realized profit
(loss) of sales |
0 |
-43 |
|
Other items |
285 |
281 |
|
Non-effect on
cash gains and losses items |
40,621 |
49,106 |
|
Decrease
(increase) in holding of the financial assets for transaction |
0 |
7,581 |
|
Decrease
(increase) in notes receivable |
-36,621 |
2,329 |
|
Decrease
(increase) in notes receivable-related party |
16,698 |
2,514 |
|
Decrease
(increase) in accounts receivable |
-174,451 |
-6,869 |
|
Decrease (increase)
in other receivable-related party |
-6,572 |
-23,123 |
|
Decrease
(increase) in inventories |
-4,372 |
-3,515 |
|
Decrease
(increase) in inventories |
-146,429 |
-32,535 |
|
Decrease
(increase) in prepayment |
-41,593 |
23,339 |
|
Decrease (increase)
in other current asset |
232 |
-216 |
|
Decrease
(increase) in other financial asset |
668 |
-8,651 |
|
Total changes in
operating assets |
-392,440 |
-39,146 |
|
Increase
(decrease) in notes payable |
1,165 |
-3,538 |
|
Increase (decrease)
in accounts payable |
43,411 |
85,644 |
|
Increase
(decrease) in accounts payable-related party |
-201 |
201 |
|
Increase
(decrease) in other payables |
2,638 |
28,971 |
|
Increase
(decrease) in other payables-related party |
236 |
28 |
|
Increase
(decrease) in liability reserve |
0 |
1,632 |
|
Increase
(decrease) in prepayment |
-10,839 |
26,804 |
|
Increase
(decrease) in other current liabilities |
171 |
-64 |
|
Increase
(decrease) in accrued pension liabilities |
198 |
188 |
|
Total changes in operating
liabilities |
36,779 |
139,866 |
|
Total changes in
operating assets and liabilities |
-355,661 |
100,720 |
|
Total adjustments |
-315,040 |
149,826 |
|
Cash inflow
(outflow) generated from operations |
-107,414 |
310,143 |
|
Interest
collected |
2,400 |
286 |
|
Dividends
collected |
9,771 |
2,390 |
|
Interest paid |
-17,476 |
-14,266 |
|
Income taxes
refund (paid) |
-29,296 |
-3,999 |
|
Net cash flows
from (used in) operating activities |
-142,015 |
294,554 |
|
Cash flows from (used
in) investing activities |
|
|
|
Acquisition of
available-for-sale financial assets |
-35,523 |
0 |
|
Acquisition of
financial assets valued by cost |
-60,175 |
-3,000 |
|
Disposal of
financial assets valued by cost |
8,038 |
0 |
|
Acquisition of property,
plant and equipment |
-336,078 |
-118,248 |
|
Disposal of
property, plant and equipment |
35 |
1,090 |
|
Increase in
guaranteed deposits paid |
-922 |
-875 |
|
Decrease in
guaranteed deposits paid |
2,383 |
0 |
|
Acquisition of
intangible assets |
-1,976 |
-1,664 |
|
Acquisition of
investment property |
-5,296 |
-36,028 |
|
Increase in other
prepayments |
-12,866 |
0 |
|
Net cash flows from (used in) investment activities |
-442,380 |
-158,725 |
|
Cash flows from
(used in) financing activities |
|
|
|
Increase in
short-term borrowing |
179,848 |
82,003 |
|
Increase in
short-term notes payable |
0 |
10,000 |
|
Long-term
borrowings |
670,000 |
93,100 |
|
Repayments of
long-term debt |
-439,000 |
-75,333 |
|
Cash dividends
paid |
-53,660 |
-17,366 |
|
Cash capital
increase |
240,000 |
0 |
|
Uncontrolled
changes of equity |
0 |
3,600 |
|
Net cash flows
from (used in) financing activities |
597,188 |
96,004 |
|
Effect of
exchange rate changes on cash and cash equivalents |
3,862 |
4,950 |
|
Net increase (decrease)
in cash and cash equivalents |
16,655 |
236,783 |
|
Cash and cash
equivalents at beginning of period |
338,388 |
101,605 |
|
Cash and cash
equivalents at end of period |
355,043 |
338,388 |
|
Cash and cash equivalents
reported in the statement of financial position |
355,043 |
338,388 |
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. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
|
1 |
Rs.100.53 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.