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MIRA
INFORM REPORT
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Report No. : |
491446 |
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Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
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Name : |
CARRIER ASIA LTD. |
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Registered Office : |
10/F., Octa Tower, 8 Lam Chak Street, Kowloon Bay, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
27.12.1985 |
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Com. Reg. No.: |
10065179 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Engineer, contractor and importer/distributor of full range of “carrier” commercial and industrial air
conditioning system, central air-conditioners, refrigerating machinery and
equipment; maintenance services to repair all kinds of air-conditioning
equipment and system. |
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No. of Employees : |
450 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international
trade and finance - the value of goods and services trade, including the
sizable share of re-exports, is about four times GDP. Hong Kong has no tariffs
on imported goods, and it levies excise duties on only four commodities,
whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil,
and methyl alcohol. There are no quotas or dumping laws. Hong Kong continues to
link its currency closely to the US dollar, maintaining an arrangement established
in 1983.
Hong Kong's open economy left it exposed to the global economic slowdown
that began in 2008. Although increasing integration with China through trade,
tourism, and financial links helped it to make an initial recovery more quickly
than many observers anticipated, its continued reliance on foreign trade and
investment leaves it vulnerable to renewed global financial market volatility
or a slowdown in the global economy.
The Hong Kong Government is promoting the Special Administrative Region (SAR)
as the site for Chinese renminbi (RMB) internationalization. Hong Kong
residents are allowed to establish RMB-denominated savings accounts;
RMB-denominated corporate and Chinese government bonds have been issued in Hong
Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB
conversion quota set by Beijing for trade settlements in 2010 due to the growth
of earnings from exports to the mainland. RMB deposits grew to roughly 9.4% of
total system deposits in Hong Kong by the end of 2015. The government is
pursuing efforts to introduce additional use of RMB in Hong Kong financial
markets and is seeking to expand the RMB quota.
The mainland has long been Hong Kong's largest trading partner,
accounting for about half of Hong Kong's total trade by value. Hong Kong's
natural resources are limited, and food and raw materials must be imported. As
a result of China's easing of travel restrictions, the number of mainland
tourists to the territory has surged from 4.5 million in 2001 to 47.3 million
in 2014, outnumbering visitors from all other countries combined. Mainland
visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million,
reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong
has also established itself as the premier stock market for Chinese firms
seeking to list abroad. In 2015, mainland Chinese companies constituted about
51% of the firms listed on the Hong Kong Stock Exchange and accounted for about
62.1% of the Exchange's market capitalization. During the past decade, as Hong
Kong's manufacturing industry moved to the mainland, its service industry has
grown rapidly. In 2014, Hong Kong and China signed a new agreement on achieving
basic liberalization of trade in services in Guangdong Province under the
Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties
between Hong Kong and the mainland. The new measures, effective from March
2015, cover a negative list and a most-favored treatment provision, and will
improve access to the mainland's service sector for Hong Kong-based companies.
Credit expansion and a tight housing supply have caused Hong Kong
property prices to rise rapidly; consumer prices increased 4.4% in 2014, but
slowed to 2.9% in 2015. Lower- and middle-income segments of the population are
increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most
evident in the banking and finance sector. Initiatives like the Hong
Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong
Shanghai Gold Connect are all important steps towards opening up the Mainland’s
capital markets and has reinforced Hong Kong’s leading role as China’s offshore
RMB market. Additional connect schemes from bonds to commodities and other
investment products are also under exploration by Hong Kong authorities.
|
Source
: CIA |
Company name and address
CARRIER
ASIA LTD.
ADDRESS: 10/F.,
Octa Tower, 8 Lam Chak Street, Kowloon Bay, Kowloon, Hong Kong.
PHONE: 852-2694 5333, 2694
3111, 2691 2845
FAX: 852-2691 2642, 2691 2845
E-MAIL: eva.hui@carrier.utc.com
MANAGEMENT
Managing Director: Mr.
Chiu King Hoi
SUMMARY
Incorporated on: 27th
December, 1985.
Organization: Private
Limited Company.
Issued Share Capital: HK$77,473,000.00
Business Category: Air-conditioning Equipment Distributor, Engineer and
Contractor.
Annual Turnover: HK$350~400
million.
Group Net Sales: US$57,244
million (Year ended 31-12-2016)
Employees:
450.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Very
Good.
address
Registered
Head Office:-
10/F., Octa Tower, 8 Lam Chak Street,
Kowloon Bay, Kowloon, Hong Kong.
Division:-
Toshiba Air Conditioning Group
19/F., Tower 1, Enterprise Square, 9 Sheung
Yuet Road, Kowloon Bay, Kowloon, Hong Kong.
[Tel: 852-2707 0688
Fax: 852-2684 2828
E-mail: ccc@toshiba-aircon.com.hk
BR No.: 10065179-001]
Immediate
Holding Company:-
United Technologies Far East Ltd., Hong
Kong.
Intermediate
Holding Company:-
Carrier Corporation
One Carrier Place, Farmington, CT
06034-4015, US.
[Tel: 1-860-674-3000, Fax: 1-860-674-3139]
Ultimate
Holding Company:-
United Technologies Corporation [UTC]
United Technologies Building, Hartford, CT
06101, US.
[Tel: 1-860-728-7000]
Associated
Companies:-
United
Technologies Corporation
Allyn Holdings Inc., US.
AMI Industries Inc., US.
Arabian Air Conditioning Co., Saudi Arabia.
Augusta (Gibraltar) Holdings I Ltd.,
Gibraltar.
Augusta (Gibraltar) Holdings II S.C.S.,
Luxembourg.
Automated Logic Corporation, US.
Auxiliary Power International Corporation,
US.
Beesail Ltd., UK.
Belgium Parkview BVBA, Belgium.
Berkeley Luxembourg S.a.r.l., Luxembourg.
Blades Technology International Inc., U.S.
Blades Technology Ltd., Israel.
Bridgecam (Ireland) Ltd., Ireland.
Cambridge Luxembourg S.a r.l, Luxembourg.
Caricor Ltd., US.
Carrier Commercial Refrigeration. Inc., US.
Carrier Enterprise LLC, US.
Carrier HVACR Investments B.V., Netherlands.
Carrier Mexico S.A. de C.V., Mexico.
Carrier Technologies ULC, Canada.
Ceesail Ltd., UK.
Chubb Fire & Security Ltd., UK.
Chubb Fire & Security Pty. Ltd.,
Australia.
Chubb Fire Ltd., UK.
Chubb Group Ltd., UK.
Chubb Group Security Ltd., UK.
Chubb International (Netherlands) BV,
Netherlands.
Chubb International Holdings Ltd., UK.
Chubb Ltd., UK.
Chubb Nederland B.V., Netherlands.
Chubb Systems Ltd., UK.
Commonwealth Luxembourg Holdings S.a r.l,
Luxembourg.
CTU of Delaware Inc., US.
Delavan Inc., US.
Detector Electronics Corporation, US.
Devonshire Switzerland Holdings AG,
Switzerland.
Elevadores Otis Ltda., Brazil.
Empresas Carrier S. De R.L. De C.V., Mexico.
Fyrnetics (Hong Kong) Ltd., Hong Kong.
Goodrich Aerospace Canada Ltd., Canada.
Goodrich Aftermarket Sevices Ltd., UK.
Goodrich Control Systems, UK.
Goodrich Corporation, US.
Goodrich Inertial Ltd., UK.
Goodrich Landing Car LLC, US.
Goodrich Ltd., UK.
Goodrich Systems Ltd., UK.
Goodrich XCH Luxembourg B.V./S.a.r.l.,
Netherlands.
Gulf Security Technology Co. Ltd., China.
Hamilton Sundstrand Aviation Services Inc.,
US.
Hamilton Sundstrand Corporation, US.
Hamilton Sundstrand Holdings. Inc., US.
Hamilton Sundstrand International Holdings
(Luxembourg) S.a r.l, Luxembourg.
HEJ Holding Inc., US.
IAE International Aero Engines AG,
Switzerland.
JMS I Corporation, US.
Kidde Fire Protection Inc., US.
Kidde Graviner Ltd., UK.
Kidde Holdings Ltd., UK.
Kidde International Ltd., UK.
Kidde Products Ltd., UK.
Kidde Technology Inc., US.
Kidde UK, UK.
Kidde US Holdings Inc., US.
Latin American Holding Inc., US.
Menasco Aerosystems Inc., US.
Netherlands Parkview Cooperatief U.A.,
Netherlands.
Nippon Otis Elevator Co., Japan.
Noresco LLC, U.S.
NSI Inc., US.
Otis Electric Elevator Co. Ltd., China.
Otis Elevator (China) Co. Ltd., China.
Otis Elevator (China) Investment Co. Ltd.,
China.
Otis Elevator Co., US.
Otis Elevator Company (India) Ltd., India.
Otis Elevator Korea, Korea.
Otis Far East Holdings Ltd., Hong Kong.
Otis Holdings GmbH & Co. OHG, Germany.
Otis International Holdings GmbH, Germany.
Otis Investments Ltd., UK.
Otis Ltd., UK.
Otis Pacific Holdings B.V., Netherlands.
Otis S.C.S., France.
Parkview Treasury Services (UK) Ltd., UK.
Pratt & Whitney Aero Engines
International GmbH, Switzerland.
Pratt & Whitney Canada Corp., Canada.
Pratt & Whitney Canada Holdings Ltd.,
Canada.
Pratt & Whitney Canada Leasing Ltd.
Partnership, Canada.
Pratt & Whitney Component Solutions
Inc., US.
Pratt & Whitney Compressor Airfoil
Holdings Inc., U.S.
Pratt & Whitney Engine Leasing LLC, US.
Pratt & Whitney Holdings LLC, Cayman
Islands.
Pratt & Whitney Rzeszow S.A., Poland.
Pratt Aero Ltd. Partnership, Canada.
Riello Group S.p.A., Italy.
Riello S.p.A. Italy, Italy.
Rohr Inc., US.
Rosemount Aerospace Inc., US.
Senitech Inc.,US.
SICLI Holding SAS, France.
Silver Lake Holdings S.a.r.l., Luxembourg.
Simmonds Precision Products Inc., US.
Sirius (Korea) Ltd., UK.
Trenton Luxembourg S.a.r.l, Luxembourg.
Trumbull Holdings SCS, France.
United Technologies Australia Holdings Ltd.,
Australia.
United Technologies Canada Ltd., Canada.
United Technologies Electronic Controls
Inc., US.
United Technologies Far East Ltd., Hong
Kong.
United Technologies Finance (U.K.) Ltd., UK.
United Technologies France SAS, France.
United Technologies Holding GmbH, Germany.
United Technologies Holdings Italy Srl,
Italy.
United Technologies Holdings Ltd., UK.
United Technologies Holdings SAS, France.
United Technologies Intercompany Lending
Ireland Designated Activity Company, Ireland.
United Technologies International
Corporation, US.
United Technologies International
Corporation-Asia Private Ltd., Singapore.
United Technologies International SAS,
France.
United Technologies Luxembourg S.a r.l,
Luxembourg.
United Technologies Paris SNC, France.
United Technologies South Asia Pacific Pte.
Ltd., Singapore.
UT Finance Corporation, US.
UT Luxembourg Holding II S.a r.l,
Luxembourg.
UT Park View. Inc., US.
UTC (US) LLC, US.
UTC Australia Commercial Holdings Pty. Ltd.,
Australia.
UTC Canada Corporation, Canada.
UTC Corporation, US.
UTC Fire & Security Americas Corporation
Inc, US.
UTC Fire & Security Canada Inc., Canada.
UTC Fire & Security Corporation, US.
UTC Fire & Security Luxembourg S.a r.l,
Luxembourg.
UTC Investments Australia Pty. Ltd.,
Australia.
UTCL Holdings Ltd., Canada.
UTCL Investments B.V., Netherlands.
UTX Holdings S.C.S., France.
Walter Kidde Portable Equipment Inc., US.
Zardoya Otis S.A., Spain.
etc.
BUSINESS REGISTRATION NUMBER
10065179
COMPANY FILE NUMBER
0163620
MANAGEMENT
Managing Director: Mr. Chiu King Hoi
Marketing Officer: Ms. Michelle Lam
ISSUED SHARE CAPITAL
HK$77,473,000.00 (7,747,300 fully paid
ordinary shares)
SHAREHOLDER
(As per registry dated 27-12-2016)
|
Name |
|
No.
of shares |
|
United Technologies Far East Ltd., Hong
Kong. |
|
7,747,300 ======= |
DIRECTORS
(As per registry dated 28-12-2016)
|
Name (Nationality) |
Address |
|
CHIU King Hoi |
Flat H, 34/F., Block B, Hollywood Terrace,
268 Queen’s Road Central, Hong Kong. |
|
Gaurang PANDYA |
House No. 123, Sector 14, Haryana, Gurgaon
122001, India. |
|
OON Wee Chin |
9 Ocean Way, #02-31, 09871 Singapore. |
SECRETARY
(As per registry dated 27-12-2016)
|
Name |
Address |
Co.
No. |
|
Top Brilliant Ltd. |
Room 1002, 10/F., Tung Wah Mansion, |
0711858 |
HISTORY
The subject was incorporated on 27th December, 1985 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Mallia Ltd., name
changed to Carrier China Ltd. on 1st August, 1986; and further changed to the
present style on 13th May, 2006.
Formerly, the subject was located at 2/F., Sun King Factory Building, 1‑7 Shing
Chuen Road, Tai Wai, Shatin, New Territories, Hong Kong, moved to 19/F., Tower
1, Enterprise Square, 9 Sheung Shuet Road, Kowloon Bay, Kowloon, Hong Kong on
25th November, 2006; to 5/F., Manhattan Place, 23 Wang Tai Road, Kowloon
Bay, Kowloon, Hong Kong in August 2009 and further to the present address in
May 2013.
The subject changed its directors in late 2016.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities & Lines: Engineer,
Contractor and Importer/Distributor of full range of “Carrier” commercial and industrial air conditioning system, central
air-conditioners, refrigerating machinery and equipment; Maintenance Services
to repair all kinds of air-conditioning equipment and system.
Employees: 450.
Commodities Imported: Mainly bought from US and Japan.
Markets: Hong Kong, Macau and China.
Annual Turnover: HK$350~400 million.
Group Net Sales: US$51,101 million
(Year ended 31-12-2012)
US$56,600
million (Year ended 31-12-2013)
US$57,900
million (Year ended 31-12-2014)
US$56,098
million (Year ended 31-12-2015)
US$57,244
million (Year ended 31-12-2016)
Net Sales of UTC Climate, Controls &
Security:-
US$17,090
million (Year ended 31-12-2012)
US$16,809
million (Year ended 31-12-2013)
US$16,823
million (Year ended 31-12-2014)
US$16,707
million (Year ended 31-12-2015)
US$16,851
million (Year ended 31-12-2016)
Terms/Sales:
As per contracted.
Terms/Buying: Various
terms.
MAIN JAPANESE SUPPLIER
Toyo Carrier Engineering Co. Ltd., Tokyo,
Japan.
FINANCIAL INFORMATION
Issued Share Capital: HK$77,473,000.00 (7,747,300 fully paid
ordinary shares)
Group Net Income Attributable to Common
Shareowners:-
US$4,337
million (Year ended 31-12-2012)
US$5,265
million (Year ended 31-12-2013)
US$6,066
million (Year ended 31-12-2014)
US$3,996
million (Year ended 31-12-2015)
US$5,065
million (Year ended 31-12-2016)
Operating Profit of UTC Climate, Controls
& Security:-
US$2,425
million (Year ended 31-12-2012)
US$2,590
million (Year ended 31-12-2013)
US$2,782
million (Year ended 31-12-2014)
US$2,936 million (Year ended 31-12-2015)
US$2,956
million (Year ended 31-12-2016)
Profit or Loss: Business is
profitable.
Condition:
Keeping in an
active manner.
Facilities:
Making very
active use of general banking facilities.
Payment:
Regular
Commercial Morality: Good.
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd., Hong Kong.
Standing:
Very Good.
GENERAL
Having issued 7,747,300 ordinary shares of HK$10.00 each, Carrier Asia
Ltd. is a wholly-owned subsidiary of United Technologies Far East Ltd., a
Hong Kong-registered firm which is in turn a subsidiary of Carrier
Corporation [Carrier]. Carrier is a
US-based firm owned by United Technologies Corporation [UTC], also a US-based
firm. UTC is a listed company in the
United States.
Carrier has got another subsidiary in Hong Kong known as Carrier
Hong Kong Ltd. [Carrier HK] which was incorporated on 16th October, 1950.
Carrier products are distributed in Hong Kong through a network of over
100 authorized dealers and about 500 retail outlets reaching households,
offices, factories, hotels and shopping arcades throughout Hong Kong.
With more than 60 years of experience in Hong Kong, Carrier is a leader
in the HVAC markets. It was engaged in
many prestigious landmark buildings in Hong Kong, including The Peninsula Hotel
Hong Kong, HSBC headquarter, Bank of China Building, Science Park,
International Commerce Center, etc.
The subject is the Export Department of Carrier in Hong Kong. Business is chiefly handled by Ms. Eva Hui
who is a Hong Kong employee. The subject
is a provider of heating, air‑conditioning and refrigeration solutions.
The followings are some of the main products of Carrier:-
Air Conditioners and Heat Pumps for Split System;
- Air Quality Solutions;
- Control and Thermostats;
- Ductless Split Systems;
- Fan and Evaporator Coils;
- Furnances for
Split Systems;
- Geothermal
Heat Pumps; &
- Packaged
Products.
Most of the products bear the following
trademarks: Infinity®, PerformanceTM and ComfortTM.
Carrier has operations in China and now has had seven factories
employing about 2,500 employees in total.
Carrier has had a network or more than 60 sales and service offices
in China. Besides, Carrier has had a
global R&D in Shanghai, China. At
present, the US directors of the subject are stationing at the Shanghai R&D
Centre. Besides, Carrier set up its
first joint venture in Shanghai known as Shanghai Tonghui Carrier Air
Conditioning Equipment Co. Ltd. in 1987.
Set up the largest joint venture in Shanghai, China known as Shanghai
Yileng Carrier Air Conditioning Equipment Co. Ltd. in 1995. In 2004, Carrier set up its headquarters in
Shanghai, China.
Hong Kong is one of the prime markets of Carrier. Other prime markets are Macau and the other
Asian countries.
In July 2008, Carrier set up a joint venture with Guangdong Midea
Electric Co. which is in Shunde, Guangdong Province, China to manufacture
air-conditioners. Also in 2008, Carrier
acquired a majority share of Dah Fung Hong (Holdings) Co. which is a leading
independent HVAC service provider in the Hong Kong market.
At present, Carrier HK offers clients with
the following services:-
- Air
Conditioning Engineering;
- Anti-corrosion
Coil Treatment.
- Building
Operation Management;
- Comprehensive
Maintenance;
- Preventive
Maintenance;
- Repairing and
Overhauling; &
- Retrofit System Improvement Plan.
Carrier, a world-renowned air-conditioner maker based in the United
States, was established in 1902 by a 26-year-old American, Dr. Willis
Carrier. Since then, it has pioneered
the field of air-conditioning. Carrier
was acquired by UTC which has been a listed company in the United States since
1979. Now, Carrier has grown to become
the world’s leading manufacturer of technologically-advanced heating, cooling
and ventilation equipment.
Carrier first came to Hong Kong in the 1930’s. Today, Carrier HK is the leading air
conditioning equipment supplier in Hong Kong.
With over 50 years air conditioning experience in Hong Kong, Carrier HK
has received numerous qualifications recognized by different public and private
sectors.
Besides marketing its own branded products, Carrier HK also carries
other brands such as “Trane”, “York”, “Johnson Control”, “Honeywell”,
“Toshiba”, etc. It is also the
official agent for “Blygold” which is specialised in air‑conditioning
and refrigeration systems.
In August 1986, Carrier started to penetrate the China market. This task has been taken over by Carrier
China Ltd., which is now involved in seven manufacturing joint ventures in
China — five in Shanghai, one in Tianjin and one in Shenzhen SEZ. It also handles direct sales in China for
imported equipment.
Carrier HK’s ultimate holding company, UTC, is a public company listed
on the New York Stock Exchange with major business units including “Pratt & Whitney”
aircraft engines, “Carrier” heating and air conditioning systems, “Otis”
elevators and escalators, “Chubb” electronic security and fire
protection products, “Hamilton Sundstrand” aerospace and industrial
systems, and “Sikorsky” helicopters.
Carrier is the leading provider of HVAC and refrigeration solutions,
including controls for residential, commercial, industrial and transportation
applications.
In order to better serve customers and to drive growth and achieve
greater efficiencies through greater integration across certain product lines,
Carrier announced a new organizational structure in September 2011, which
combines Carrier with UTC Fire & Security into a new segment called
UTC Climate, Controls & Security [UTC-CCS].
UTC-CCS is the leading provider of heating, ventilating, air
conditioning (HVAC) and refrigeration solutions, including controls for
residential, commercial, industrial and transportation applications. These products and services are sold under
the Carrier name and other brand names to building contractors and owners,
homeowners, transportation companies, retail stores and food service companies.
UTC-CCS is also a global provider of security and fire safety products
and services. It provides electronic
security products such as intruder alarms, access control systems and video
surveillance systems and designs and manufactures a wide range of fire safety
products including specialty hazard detection and fixed suppression products,
portable fire extinguishers, fire detection and life safety systems, and other
firefighting equipment. Services provided to the electronic security and fire
safety industries include systems integration, video surveillance,
installation, maintenance, and inspection services.
In 2016, the Group operated the following four segments:
· Otis
· UTC Climate, Controls & Security
· Pratt & Whitney
· UTC Aerospace Systems
At 31st December, 2016, UTC-CCS’ net sales amounted to
US$16,851 million, increased by 0.9% as compared with US$16,707 million at
31st December, 2015. Operating profit
for the year of UTC-CCS was US$2,956 million, grew by 0.7% as compared
with US$2,936 million in 2015.
At December 31, 2016, the Group’s total number of employees was
approximately 201,600 (2015: 197,200).
The subject is fully supported by Carrier. Ms. Michelle Lam is the Marketing Officer.
The history of the subject in Hong Kong is over 31 years and four
months. Business is steady in Hong Kong.
On the whole, in view of the parentage and background of the subject,
consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.13 |
|
|
1 |
INR 89.17 |
|
Euro |
1 |
INR 79.39 |
|
HKD |
1 |
INR.8.18 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.