|
|
|
MIRA
INFORM REPORT
|
Report No. : |
491759 |
|
Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
TRUKING TECHNOLOGY LIMITED |
|
|
|
|
Registered Office : |
No. 1 Xinkang
Road, Yutan Town, Ningxiang County, Changsha, Hunan Province 410600 PR |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
30.09.2017 |
|
|
|
|
Date of Incorporation : |
08.11.2002 |
|
|
|
|
Unified Social Credit Code : |
91430100743176293C |
|
|
|
|
Legal Form : |
Shares Limited Company |
|
|
|
|
Line of Business : |
Subject
is registered business scope includes R&D of mechanical and electrical
products and water treatment equipment; manufacturing printing,
pharmaceutical, cosmetic and daily necessities production equipment, drying
equipment, pressure pipes and accessories, food, wine, beverage and tea
production equipment, water treatment equipment; industrial and mechanical
engineering design services; mechanical and electrical equipment installation
engineering contract; mechanical and electrical equipment repair and
maintenance services; mechanical and electrical production and processing;
housing leasing; machinery and equipment leasing; medical equipment rental
services; general contracting services; pressure pipeline renovation;
pressure pipeline maintenance; pressure pipeline design; pressure vessel
installation, pipeline and equipment installation; clean and clean
engineering design and construction; professional and technical
certification; engineering and technical advisory services; project management
services; installation of water treatment equipment; project management
services; general contracting construction; |
|
|
|
|
No. of Employees : |
2,629 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. China has implemented reforms in a gradualist fashion, resulting in efficiency gains that have contributed to a more than tenfold increase in GDP since 1978. Reforms began with the phaseout 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 continues to pursue an industrial policy, state support of key sectors, and a restrictive investment regime. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2016 stood as the largest economy in the world, surpassing the US in 2014 for the first time in modern history. China became the world's largest exporter in 2010, and the largest trading nation in 2013. Still, China's per capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, China in July 2005 moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008, the renminbi appreciated more than 20% against the US dollar, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing announced it would allow a resumption of gradual liberalization. From 2013 until early2015, the renminbi (RMB) appreciated roughly 2% against the dollar, but the exchange rate fell 13% from mid-2015 until end-2016 amid strong capital outflows in part stemming from the August 2015 official devaluation; in 2017 the RMB resumed appreciating against the dollar – roughly 7% from end-of-2016 to end-of-2017. From 2013 to 2017, China had one of the fastest growing economies in the world, averaging slightly more than 7% real growth per year. In 2015, the People’s Bank of China announced it would continue to carefully push for full convertibility of the renminbi, after the currency was accepted as part of the IMF’s special drawing rights basket. However, since late 2015 the Chinese Government has strengthened capital controls and oversight of overseas investments to better manage the exchange rate and maintain financial stability.
The Chinese Government faces numerous economic challenges including: (a) reducing its high domestic savings rate and correspondingly low domestic household consumption; (b) managing its high corporate debt burden to maintain financial stability; (c) controlling off-balance sheet local government debt used to finance infrastructure stimulus; (d) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and college graduates, while maintaining competitiveness; (e) dampening speculative investment in the real estate sector without sharply slowing the economy; (f) reducing industrial overcapacity; and (g) raising productivity growth rates through the more efficient allocation of capital and state-support for innovation. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of China’s population control policy known as the “one-child policy” - which was relaxed in 2016 to permit all families to have two children - 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 urbanization. The Chinese Government is seeking to add energy production capacity from sources other than coal and oil, focusing on natural gas, nuclear, and clean energy development. In 2016, China ratified the Paris Agreement, a multilateral agreement to combat climate change, and committed to peak its carbon dioxide emissions between 2025 and 2030.
The government's 13th Five-Year Plan, unveiled in March 2016, emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. However, China has made more progress on subsidizing innovation than rebalancing the economy. Beijing has committed to giving the market a more decisive role in allocating resources, but the Chinese Government’s policies continue to favor state-owned enterprises and emphasize stability. Chinese leaders in 2010 pledged to double China’s GDP by 2020, and the 13th Five Year Plan includes annual economic growth targets of at least 6.5% through 2020 to achieve that goal. 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. Chinese leaders also have undermined some market-oriented reforms by reaffirming the “dominant” role of the state in the economy, a stance that threatens to discourage private initiative and make the economy less efficient over time. The slight acceleration in economic growth in 2017—the first such uptick since 2010—gives Beijing more latitude to pursue its economic reforms, focusing on financial sector deleveraging and its Supply-Side Structural Reform agenda, first announced in late 2015.
|
Source
: CIA |
COMPANY NAME and ADDRESS
|
COMPANY NAME |
Truking Technology Limited |
|
CURRENT ADDRESS/ REGISTERED ADDRESS |
No. 1 Xinkang Road, Yutan Town,
Ningxiang County, Changsha, Hunan Province 410600 PR China |
|
TEL. NO. |
86 (0) 731-85122336 |
|
FAX NO. |
86 (0) 731-85131426 |
***Note: SC’s correct
name should be the above stated one, instead of the given name - TRUCKING
TECHNOLOGY.
EXECUTIVE SUMMARY
Date of Registration :
november 8, 2002
Unified Social Credit Code : 91430100743176293C
LEGAL FORM : Shares limited company
CHIEF EXECUTIVE : tang yue (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
cny 480,154,435
staff : 2,629
BUSINESS CATEGORY :
manufacturing & trading
REVENUE : CNY 864,911,000 (CONSOLIDATED,
JAN. 1, 2017 TO SEP. 30, 2017)
EQUITIES : CNY 1,748,920,000 (CONSOLIDATED,
AS OF SEP. 30, 2017)
WEBSITE : www.truking.cn
E-MAIL : admin@truking.cn
& yudong@trucking.cn
PAYMENT : REGULAR
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
fairly stable
OPERATIONAL TREND :
fairly STEADY
GENERAL REPUTATION :
fairly good
Adopted
abbreviations (as follows)
SC - Subject Company (the
company inquired by you)
N/A – Not available
CNY – China Yuan Ren Min Bi
OPERATIONAL TREND & GENERAL REPUTATION
This
section aims at indicating the relative positions of SC in respect of its
operational trend & general reputation
Operational
Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly
Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not
known Not
yet be determined
Not
yet be determined
LEGAL STATUS & HISTORY
SC
was established as shares limited company of PRC with State Administration of
Industry & Commerce (SAIC) under Unified Social Credit Code: 91430100743176293C.
SC’s Import and Export Enterprise Code:
4300743176293
SC’s registered capital: CNY
480,154,435
SC’s paid-in capital: CNY 480,154,435
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2007-12 |
Registration No. |
4301242000439 |
430124000003013 |
|
2011 |
Company Name |
Changsha Chutian Science & Technology Co., Ltd. |
Truking Technology Limited |
|
Legal Form |
Limited Liabilities Company |
Shares Limited Company |
|
|
Registered Capital |
CNY 10,000,000 |
CNY 66,000,000 |
|
|
2014 |
Registered Capital |
CNY 66,000,000 |
CNY 72,999,250 |
|
|
Registered Capital |
CNY 72,999,250 |
CNY 116,798,800 |
|
|
Registered Capital |
CNY 116,798,800 |
CNY 233,597,600 |
|
|
Registered Capital |
CNY 233,597,600 |
CNY 266,288,782 |
|
|
Registered Capital |
CNY 266,288,782 |
CNY 277,723,982 |
|
|
Registered Capital |
CNY 277,723,982 |
cny 278,983,982 |
|
|
Registered Capital |
cny 278,983,982 |
CNY 446,374,371 |
|
-- |
Registration No./ Unified Social Credit Code |
430124000003013 |
91430100743176293C |
|
|
Registered Capital |
CNY 446,374,371 |
CNY 440,154,435 |
|
|
Registered Capital |
CNY 440,154,435 |
CNY 480,154,435 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) (As of September 30, 2017) |
% of Shareholding |
|
Changsha Truking Investment Co., Ltd. |
50.36 |
|
Ma Qinghua |
6.97 |
|
Xinjiang Hansen Equity Investment Management Limited Partnership |
4.99 |
|
Beijing Senmiao Runxin Investment Management Center (Limited
Partnership) |
1.48 |
|
Central Huijin Asset Management Co., Ltd. |
1.23 |
|
Taida Hongli Fund-ICBC-Taida Hongli Value Growth No. 221 Asset
Management Plan |
0.84 |
|
Yang Wenlu |
0.79 |
|
Tang Yue |
0.77 |
|
Suzhou Yacai Rongxin Investment Center (Limited Partnership) |
0.65 |
|
Zeng Fanyun |
0.63 |
|
Other Shareholders |
31.29 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Tang Yue |
|
CEO |
Zeng Fanyun |
|
Vice CEO |
Zhou Feiyue |
|
Bian Ce |
|
|
Zeng Heqing |
|
|
Xiao Yunhong |
|
|
Zhou Jingying |
RECENT DEVELOPMENT
SC
is a listed company in Shenzhen Stock Exchange Market with the code of 300358.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
(As of September 30, 2017)
Changsha
Truking Investment Co., Ltd. 50.36
Ma
Qinghua 6.97
Xinjiang
Hansen Equity Investment Management Limited Partnership 4.99
Beijing
Senmiao Runxin Investment Management Center (Limited Partnership) 1.48
Central
Huijin Asset Management Co., Ltd. 1.23
Taida
Hongli Fund-ICBC-Taida Hongli Value Growth No. 221 Asset Management Plan 0.84
Yang
Wenlu 0.79
Tang
Yue 0.77
Suzhou
Yacai Rongxin Investment Center (Limited Partnership) 0.65
Zeng
Fanyun 0.63
Other
Shareholders 31.29
Changsha
Truking Investment Co., Ltd.
-----------------------------------------------------
Date
of Registration: September 16, 2010
Unified
Social Credit Code:
91430100561728173W
Legal
Form: Limited Liabilities
Company
Legal
Representative: Tang Yue
Registered
Capital: CNY 20,600,000
Central
Huijin Asset Management Co., Ltd.
----------------------------------------------------------
Unified
Social Credit Code: 91110101MA001QTAX2
Legal
Representative: Zhang Hong'an
Registered
Capital: CNY 5,000,000,000
MANAGEMENT
Tang Yue, Legal
Representative and Chairman
---------------------------------------------------------------------
Gender: M
Nationality:
China
Age:
55
ID#
432930196306080012
Qualification:
University
Working
experience (s):
From
2002 to present, working in SC as legal representative and chairman
Also
working in Changsha Truking Investment Co., Ltd. as legal representative
Zeng Fanyun, CEO
-------------------------------------
Gender:
M
Nationality:
China
Age:
56
Qualification:
University
Working
experience (s):
At
present, working in SC as CEO
Vice CEO
-------------
Zhou
Feiyue
Bian
Ce
Zeng
Heqing
Xiao
Yunhong
Zhou
Jingying
BUSINESS OPERATION
SC’s registered business scope includes R&D of mechanical and
electrical products and water treatment equipment; manufacturing printing,
pharmaceutical, cosmetic and daily necessities production equipment, drying
equipment, pressure pipes and accessories, food, wine, beverage and tea
production equipment, water treatment equipment; industrial and mechanical
engineering design services; mechanical and electrical equipment installation
engineering contract; mechanical and electrical equipment repair and
maintenance services; mechanical and electrical production and processing;
housing leasing; machinery and equipment leasing; medical equipment rental
services; general contracting services; pressure pipeline renovation; pressure
pipeline maintenance; pressure pipeline design; pressure vessel installation,
pipeline and equipment installation; clean and clean engineering design and
construction; professional and technical certification; engineering and
technical advisory services; project management services; installation of water
treatment equipment; project management services; general contracting
construction;
SC
is mainly engaged in manufacturing and selling medicine and food packaging
machinery.
Brand:
TRUKING 
SC’s
products mainly include:
ALX Ampoule Compact Line
AJDZ Ampoule Light-auto Inspection Machine
KLX Vial Compact Line
KLXF Vial Powder Compact Line
YXL Oral Liquid Compact Line
ALXL New Shape Ampoule Compact Line
SRD Non-PVC Film Softbag Line
SRS Non-PVC Film Double-Chamber Softbag Line
SRDF Non-PVC Film Multi-Chamber Softbag Line
SLX Glass bottle Infusion Line
Etc.
SC
sources its materials 80% from domestic market, and 20% from the overseas market.
SC sells 80% of its products in domestic market, and 20% to the overseas
market, mainly India, Bangladesh, Pakistan, Uzbekistan, Indonesia, Vietnam,
South Korea, 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
Customers*
==============
Youcare
Pharmaceutical Group Co.,Ltd.
Wujixian
(Yingkou) Co., Ltd.
Hebei
Aier Haitai Pharmaceutical Co., Ltd.
Chongqing
Lummy Pharmaceutical Co., Ltd.
Changzhou
Fangyuan Pharmaceutical Co., Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 2,629
staff at present.
SC
rents an area as its operating office & factory of approx. 198,000 sq.
meters at the heading address.
RELATED COMPANY
SC is known to have the
following subsidiaries at present,
Truking
Asset Management (Changsha) Co., Ltd.
------------------------------------------
Unified
Social Credit Code: 91430100MA4LHD6MXJ
Date
of Registration: March 31, 2017
Registered
Capital: CNY 1,000,000
Legal
Representative: Zhou Feiyue
Truking
Smart Robot (Changsha) Co., Ltd.
---------------------------------------------
Unified
Social Credit Code: 91430124MA
Date
of Registration: February 26, 2016
Registered
Capital: CNY 186,000,000
Legal
Representative: Zhou Feiyue
Longlev
(Beijing) Technology Co., LTD.
---------------------------------------
Unified
Social Credit Code: 91110107565752728N
Date
of Registration: December 16, 2010
Registered
Capital: CNY 28,571,429
Legal
Representative: Zhang Hao
Changchun
New Watertown Pharmaceutical Equipment Co., Ltd.
------------------------------------
Unified
Social Credit Code: 912201815563810806
Date
of Registration: August 16, 2010
Registered
Capital: CNY 50,000,000
Legal
Representative: Ma Qinghua
Shanghai
Ruixiang Information Technology Co., Ltd.
------------------------------------
Unified
Social Credit Code: 913101146810379593
Date
of Registration: November 4, 2008
Registered
Capital: CNY 50,000,000
Legal
Representative: Zhou Feiyue
Sichuan
Medical Design Institute Co., Ltd.
-------------------------------------
Unified
Social Credit Code:
9151000045071625XG
Date
of Registration: June 27, 1985
Registered
Capital: CNY 20,000,000
Legal
Representative: Wang Xuejin
PAYMENT
Overall payment appraisal:
(
) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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 records and our debt collection record
concerning SC.
Trade payment experience: SC did not provide any name of trade/service suppliers and we
have no other sources to conduct the enquiry at present.
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.
BANKING
Basic Bank:
Bank
of China Ningxiang Sub-branch
AC#:
63050304208091001
FINANCIALS
Consolidated Balance Sheet
|
Unit: CNY’000 |
As of Dec. 31, 2015 |
As of Dec. 31, 2016 |
As of Sep. 30, 2017 |
|
171,058 |
161,680 |
103,052 |
|
|
Accounts receivable |
538,603 |
681,017 |
830,132 |
|
Notes receivable |
10,263 |
29,215 |
45,217 |
|
Advances to suppliers |
29,158 |
28,233 |
76,718 |
|
Other receivable |
13,546 |
22,782 |
32,958 |
|
Inventory |
478,849 |
654,719 |
925,040 |
|
Non-current assets within one year |
0 |
0 |
0 |
|
Other current assets |
16,685 |
35,667 |
26,676 |
|
|
------------------ |
------------------ |
------------------ |
|
Current assets |
1,258,162 |
1,613,313 |
2,039,793 |
|
Long-term investments |
0 |
0 |
0 |
|
Fixed assets |
654,446 |
659,959 |
636,175 |
|
Construction in progress |
24,090 |
77,932 |
140,544 |
|
Intangible assets |
115,339 |
139,337 |
134,546 |
|
Goodwill |
315,065 |
334,927 |
334,927 |
|
Deferred income tax assets |
15,923 |
21,602 |
1,624 |
|
Other non-current assets |
3,347 |
34,016 |
120,251 |
|
|
------------------ |
------------------ |
------------------ |
|
Total assets |
2,386,372 |
2,881,086 |
3,407,860 |
|
|
============= |
============= |
============= |
|
Short-term loans |
0 |
128,000 |
304,000 |
|
Notes payable |
86,000 |
139,284 |
197,825 |
|
Accounts payable |
296,138 |
312,008 |
374,471 |
|
Payroll payable |
24,615 |
28,921 |
32,340 |
|
Taxes payable |
14,748 |
17,087 |
13,138 |
|
Interest payable |
2,170 |
2,170 |
2,170 |
|
Advances from clients |
58,631 |
82,180 |
241,531 |
|
Other payable |
280,800 |
357,126 |
349,967 |
|
Other current liabilities |
63,000 |
21,095 |
15,981 |
|
|
------------------ |
------------------ |
------------------ |
|
Current liabilities |
826,102 |
1,087,871 |
1,531,423 |
|
Non-current liabilities |
40,868 |
122,500 |
127,517 |
|
|
------------------ |
------------------ |
------------------ |
|
Total liabilities |
866,970 |
1,210,371 |
1,658,940 |
|
Equities |
1,519,402 |
1,670,715 |
1,748,920 |
|
|
------------------ |
------------------ |
------------------ |
|
Total liabilities & equities |
2,386,372 |
2,881,086 |
3,407,860 |
|
|
============= |
============= |
============= |
Consolidated Income
Statement
|
Unit: CNY’000 |
As of Dec. 31, 2015 |
As of Dec. 31, 2016 |
From Jan. 1, 2017 to Sep. 30, 2017 |
|
Revenue |
974,829 |
1,036,740 |
864,911 |
|
Cost of sales |
550,377 |
570,908 |
493,796 |
|
Business Taxes and Surcharges |
8,386 |
11,127 |
11,004 |
|
Sales expense |
111,312 |
120,309 |
103,820 |
|
Management expense |
147,333 |
167,723 |
125,324 |
|
Finance expense |
1,964 |
4,547 |
9,691 |
|
Asset impairment loss |
2,441 |
13,140 |
7,522 |
|
Investment income |
0 |
0 |
229 |
|
Non-operating income |
18,251 |
14,684 |
7,741 |
|
Non-operating expense |
585 |
1,428 |
3,032 |
|
Profit before tax |
170,681 |
162,242 |
118,692 |
|
Less: profit tax |
17,292 |
19,117 |
13,261 |
|
153,389 |
143,125 |
105,431 |
Important Ratios
=============
|
|
As of Dec. 31, 2015 |
As of Dec. 31, 2016 |
As of Sep. 30, 2017 |
|
*Current ratio |
1.52 |
1.48 |
1.33 |
|
*Quick ratio |
0.94 |
0.88 |
0.73 |
|
*Liabilities to assets |
0.36 |
0.42 |
0.49 |
|
*Net profit margin (%) |
15.73 |
13.81 |
12.19 |
|
*Return on total assets (%) |
6.43 |
4.97 |
3.09 |
|
*Inventory / Revenue ×365/270 |
180 days |
231 days |
289 days |
|
*Accounts receivable / Revenue ×365/270 |
202 days |
240 days |
260 days |
|
*Revenue / Total assets |
0.41 |
0.36 |
0.25 |
|
*Cost of sales / Revenue |
0.56 |
0.55 |
0.57 |
FINANCIAL COMMENTS
PROFITABILITY: FAIRLY GOOD
The
revenue of SC appears fairly good in its line.
SC’s
net profit margin is fairly good.
SC’s
return on total assets is average.
SC’s
cost of sales is low, comparing with its revenue.
LIQUIDITY: AVERAGE
The
current ratio of SC is maintained in a normal level.
SC’s
quick ratio is maintained in a normal level.
The
inventory of SC appears large.
The
accounts receivable of SC appears large.
SC’s
short-term loans are in an average level.
SC’s
revenue is in a fair level, comparing with the size of its total assets.
LEVERAGE: AVERAGE
The
debt ratio of SC is average.
The
risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC
is considered large-sized in its line with fairly stable financial conditions.
The large amount of inventory and accounts receivable may be a threat to SC’s
financial condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.89 |
|
CNY |
1 |
INR 10.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.