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|
|
MIRA
INFORM REPORT
|
Report No. : |
493623 |
|
Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
|
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|
Registered Office : |
Catic Plaza, No. 18 Beichen East Road, Chaoyang District, Beijing 100101 Pr |
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Country : |
China |
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Financials (as on) : |
30.09.2017 |
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Date of Incorporation : |
12.04.1983 |
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Credibility
Code : |
911100001000009992 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Subject registered business scope includes dispatching
labor abroad that required for the overseas projects; sales of precursor
chemicals: toluene, acetone, sulfuric acid, potassium permanganate,
piperidine, hydrochloric acid, ether, trichloromethane, 2-butanone, acetic
anhydride; other hazardous chemicals: synthetic resins containing flammable
solvents, paints, auxiliary materials, paints and other products [closed cup
flash point ≤60 ℃] (Dangerous chemicals business license valid until August
16, 2018); import and export business; warehousing; investment and management
of industry, hotels, property, real estate; development, sales and
maintenance of new energy equipment; exhibitions; technology transfer and
technical service related to the above business. |
|
|
|
|
No. of Employees : |
103,580 (Including Subsidiaries) |
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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Status : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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|
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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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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
AVIC INTERNATIONAL HOLDING Corporation
CATIC plaza, No. 18 Beichen EAST ROAD, Chaoyang
District,
Beijing 100101 PR CHINA
TEL: 86 (0) 10-84809123/84808439/84808611 FAX: 86 (0) 10-84808423
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 12, 1983
Credibility code :
911100001000009992
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR.
liu hongde (legal representative)
STAFF STRENGTH :
103,580 (including subsidiaries)
REGISTERED CAPITAL :
CNY 9,578,641,714
BUSINESS LINE :
TRADE,
SERVICES & INVESTMENT
TURNOVER :
CNY 103,571,319,000 (Consolidated, JAN. 1 TO SEP. 30, 2017)
EQUITIES :
CNY 67,922,617,000
(Consolidated, AS OF SEP. 30, 2017)
PAYMENT :
REGULAR
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
fairly STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
WELL KNOWN
Adopted abbreviations:
ANS
- amount not stated
NS
- not stated
SC
- subject company (the company inquired by you)
NA
- not available
CNY
- China Yuan Renminbi
SC
was registered as a Limited liabilities
co. at local Administration for Industry & Commerce (AIC - The
official body of issuing and renewing business license).
Company Status: Limited liabilities co. This
form of business in PR China is defined as a legal person. No more than
fifty shareholders contribute its registered capital jointly. Shareholders
bear limited liability to the extent of shareholding, and the co. is liable
for its debts only to extent of its total assets. The characteristics of
this form of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The
board of directors is comprised of three to thirteen members. The
minimum registered capital for a co. is CNY 30,000. Shareholders
may take their capital contributions in cash or by means of tangible assets
or intangible assets such as industrial property and non-patented
technology. Cash
contributed by all shareholders must account for at least 30% of the
registered capital. Existing
shareholders have pre-exemption right to purchase shares of the co. offered
for sale by the other shareholders and to subscribe for the newly increased
registered capital of the co.
SC’s registered business scope includes dispatching labor abroad
that required for the overseas projects; sales of precursor chemicals: toluene,
acetone, sulfuric acid, potassium permanganate, piperidine, hydrochloric acid,
ether, trichloromethane, 2-butanone, acetic anhydride; other hazardous
chemicals: synthetic resins containing flammable solvents, paints, auxiliary
materials, paints and other products [closed cup flash point ≤60 ℃] (Dangerous chemicals business license valid until August 16,
2018); import and export business; warehousing; investment and management of
industry, hotels, property, real estate; development, sales and maintenance of new
energy equipment; exhibitions; technology transfer and technical service
related to the above business.
SC is mainly engaged in international aviation business, trade and
logistic service, electronic high-tech business, real estate service, and industrial
investment, etc.
Mr.
Liu Hongde has been legal representative and chairman of SC since 2017.
SC
is known to have approx. 103,580 (including
its subsidiaries) employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and head office in the commercial zone of Beijing. SC’s
accountant refused to release detailed information of the premise.
http://www.avic-intl.cn/
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
E-mail: public@avic-intl.cn
Changes of its registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registration No. |
1000001000099 |
100000000000991 |
|
2004-6-28 |
Legal Representative |
Yang Chunshu |
Fu Shula |
|
Registered capital |
CNY 300,000,000 |
CNY 240,448,000 |
|
|
2008-12-23 |
Company name |
China National Aero-technology Import & Export Corporation |
AVIC International Holding Corporation |
|
Registered capital |
CNY 240,448,000 |
CNY 5,000,000,000 |
|
|
Shareholders (% of shareholding) |
China Aviation Industry Corporation I (AVIC I): 50%; China
Aviation Industry Corporation II (AVIC II): 50% |
Aviation Industry Corporation of China 100% |
|
|
Registered legal form |
state-owned enterprise |
one-person limited liability company |
|
|
2009-10-16 |
Registered capital |
CNY 5,000,000,000 |
CNY 6,211,000,000 |
|
Registered legal form |
one-person limited liability company |
limited liability company |
|
|
Shareholders (% of shareholding) |
Aviation Industry Corporation of China 100% |
Aviation Industry Corporation of China 67.36% Zhongjin Innovation (Tianjin) Investment Co., Ltd. 16.32% National Council for Social Security Fund 16.32% |
|
|
Legal Representative |
Fu Shula |
Wu Guangquan |
|
|
Registered capital |
CNY 6,211,000,000 |
CNY 7,422,000,000 |
|
|
2011-2-22 |
Registered capital |
CNY 7,422,000,000 |
CNY 8,459,000,000 |
|
Unknown |
Shareholders (% of shareholding) |
Aviation Industry Corporation of China 67.36% Zhongjin Innovation (Tianjin) Investment Co., Ltd. 16.32% National Council for Social Security Fund 16.32% |
Aviation Industry Corporation of China 62.50% Zhongjin Innovation (Tianjin) Investment Co., Ltd. 14.32% National Council for Social Security Fund 14.32% AVIC CCB Aviation Industry Equity Investment (Tianjin) Co., Ltd.
8.86% |
|
Shareholders (% of shareholding) |
Aviation Industry Corporation of China 62.50% Zhongjin Innovation (Tianjin) Investment Co., Ltd. 14.32% National Council for Social Security Fund 14.32% AVIC CCB Aviation Industry Equity Investment (Tianjin) Co., Ltd.
8.86% |
Aviation Industry Corporation of China 76.82% National Council for Social Security Fund14.32% AVIC CCB Aviation Industry Equity Investment (Tianjin) Co., Ltd.
8.86% |
|
|
2014-1 |
Shareholders (% of shareholding) |
Aviation Industry Corporation of China 76.82% National Council for Social Security Fund 14.32% AVIC CCB Aviation Industry Equity Investment (Tianjin) Co., Ltd.
8.86% |
Aviation Industry Corporation of China 62.50% National Council for Social Security Fund 14.32% Beijing Putuo Hanhua Investment Management Center (Limited
Partnership) (literal translation) 14.32% AVIC CCB Aviation Industry Equity Investment (Tianjin) Co., Ltd.
8.86% |
|
2014-07-25 |
Shareholder’s name |
Beijing Putuo Hanhua Investment Management Center (Limited
Partnership) (literal translation) |
Beijing Putuo Hanhua Equity Investment Fund Partnership
Enterprise (LP) (In Chinese Pinyin) |
|
2015-3-30 |
Registered capital |
CNY 8,459,000,000 |
Present amount |
|
2017-01-24 |
Legal Representative |
Wu Guangquan |
Present one |
|
Unknown |
Registration no. |
100000000000991 |
911100001000009992 |
|
2017-12 |
Shareholder’s name |
Aviation Industry Corporation of China |
Aviation Industry Corporat @ion of China, Ltd. |
Import/
Export License Number: 1100100000999
For
the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name
Amount
(CNY’0000) % of Shareholding
Aviation Industry Corporation of China, Ltd. 598,700
62.50
National
Council for Social Security Fund 137,122.0729 14.32
Beijing
Putuo Hanhua Equity Investment
Fund
Partnership Enterprise (LP)
(In
Chinese Pinyin) 137,122.0729 14.32
AVIC
CCB Aviation Industry Equity
Investment
(Tianjin) Co., Ltd. 84,920.0256 8.86
Aviation
Industry Corporation of China, Ltd.
============================
The Aviation Industry Corporation of China, Ltd. (AVIC) was founded
on November 6th, 2008 through the restructuring and consolidation of the China
Aviation Industry Corporation Ⅰ (AVIC Ⅰ) and the China Aviation Industry Corporation Ⅱ (AVIC Ⅱ). They are centered on
aviation and provide complete services to customers in many sectors— from
research and development to operation, manufacturing and financing. Their
business units cover defense, transport aircrafts, helicopters, avionics and
systems, general aviation, research and development, flight testing, trade and
logistics, assets management, finance services, engineering and construction,
automobiles and more. They have over 100 subsidiaries, nearly 27 listed
companies and more than 450,000 employees.
Credibility
code: 91110000710935732K
Legal
representative: Lin Zuoming
Incorporation
date: 2008-11-06
National
Council for Social Security Fund
===============================
On
August 1, 2000, the Central Committee of CPC and the State Council decided to
establish the National Social Security Fund (NSSF) and the National Council for
Social Security Fund (SSF) to manage and operate the assets of NSSF.
Legal Representative and Chairman:
Mr.
Liu Hongde, senior engineer, he is
currently responsible for the overall management of SC.
Working
Experience(s):
From 2017 to present Working
in SC as legal representative and chairman.
Also working in AVIC International Holdings Limited as legal
representative.
General Manager and Director:
Mr. Lai Weixuan, born in 1964 with Master’s degree, he
is currently responsible for the daily management of SC.
Working
Experience(s):
At present Working
in SC as general manager and director.
Also working in AVIC International Holdings Limited as
vice chairman.
Directors:
Kong Lingfen
Sun Hongyan
Zhou Chunhua
Etc.
Supervisors:
Zhang Yanqun
Zhao Yucheng
Song Jingping
Etc.
SC
is mainly engaged in international aviation business, trade and logistic
service, electronic high-tech business, real estate service, and industrial
investment, etc.
SC’s
main business covers:
Aviation Business:
Aviation
Supply Chain Services
Aviation
Manufacturing Services
Aviation
Operation Services
Electronic Business:
Display
Business
PCB
Inter-connection
International Business:
Infrastructure
Construction
Complete
Equipment and Projects
Cement
& Building Materials Engineering
Trade & Bulk
Commodities:
Ship
Business
Asphalt
and Mechanical and Electrical Products
Real Estate and Property
Services:
Property
Operation and Management
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.
Main
clients:
=============
Gionee Communication Equipment Co., Ltd. Shenzhen
ZTE
Kangxun Telecom Co., Ltd.
Etc.
Main
suppliers:
================
Jiangxi
Hongdu Aviation Industry Co., Ltd.
Xuzhou
Baofeng Special Steel Co., Ltd.
Tangshan
Ganglu Iron & Steel Co., Ltd.
Etc.
Trademark & Patents
|
Registration No. |
13321714 |
13321752
|
13321713 |
|
Registration Date |
2015-1-14 |
2015-1-14 |
2015-1-14 |
|
Trademark Design |
|
|
|
SC is known to invest in
the following companies:
AVIC
International Holdings Limited
China
National Aero-Technology Corporation Shanghai Limited Liability Company
China
National Aero-Technology Shenzhen Company Limited
China
National Aero-Technology Zhuhai Company Limited
AVIC
International Aero-Development Corporation
Beijing Kaidike Investment Management Co., Ltd. (in Chinese
pinyin)
Etc.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The
appraisal serves as a reference to reveal SC's payments habits and ability to
pay. It is based on the 3 weighed
factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment and our
debt collection record concerning SC.
Trade payment experience: SC’s suppliers declined to make any comments.
Delinquent payment record: None
in our database.
Debt collection record: No overdue amount owed by SC was placed to us for collection
within the last 6 years.
Note:
SC’s management declined to release its major suppliers, so the trade reference
is not available.
Bank
of China General Office
AC#：778350033681
Bank
of Communications Yayuncun Sub-branch
AC#：060210012015168749
Relationship:
Normal.
Consolidated Balance Sheet
Unit:
CNY’000
|
|
as of Sep. 30, 2017 |
as of Dec. 31, 2016 |
|
Cash & bank |
29,255,904 |
30,756,041 |
|
Financial assets at fair value through profit and loss |
180,306 |
176,652 |
|
Derivative financial assets |
0 |
10,343 |
|
Note receivable |
1,783,742 |
1,615,400 |
|
Inventory |
74,441,363 |
75,950,754 |
|
Accounts receivable |
21,762,511 |
18,337,746 |
|
Advances to supplies |
14,454,664 |
11,482,562 |
|
Interest receivable |
47,654 |
52,713 |
|
Dividends receivable |
303,747 |
14,300 |
|
Other receivables |
13,436,175 |
19,291,854 |
|
Non-current assets due within one year |
336,956 |
588,160 |
|
Other current assets |
7,695,235 |
7,383,010 |
|
|
------------------ |
------------------ |
|
Current assets |
163,698,257 |
165,659,535 |
|
Financial assets available for sale |
6,793,227 |
6,987,996 |
|
Held-to-maturity investment |
3,431,889 |
10,257,216 |
|
Long-term accounts receivable |
6,333,323 |
5,345,594 |
|
Long-term investments |
7,162,366 |
7,859,729 |
|
Investment real estate |
19,689,309 |
19,628,756 |
|
Fixed assets net value |
42,625,359 |
32,239,776 |
|
Projects under construction |
14,389,358 |
16,919,006 |
|
Projects materials |
9,218 |
14,844 |
|
Disposal of fixed assets |
3,305 |
14 |
|
Intangible assets |
8,657,556 |
8,666,636 |
|
Development expenses |
229,560 |
130,106 |
|
Goodwill |
5,774,621 |
4,989,230 |
|
Long term prepaid expense |
1,267,126 |
1,349,984 |
|
Deferred income tax assets |
1,253,888 |
1,116,739 |
|
Other assets |
858,352 |
1,436,055 |
|
|
------------------ |
------------------ |
|
Total assets |
282,176,714 |
282,601,216 |
|
|
============= |
============= |
|
Short loans |
36,858,020 |
32,028,079 |
|
Financial liabilities at fair value through profit and loss |
2,864 |
194,386 |
|
Derivative financial liabilities |
0 |
19,317 |
|
Bills payable |
4,830,682 |
6,255,306 |
|
Accounts payable |
24,526,716 |
23,957,354 |
|
Advances from clients |
46,782,945 |
37,901,276 |
|
Accrued payroll |
1,547,326 |
1,825,051 |
|
Taxes payable |
1,484,725 |
2,243,314 |
|
Interest payable |
836,160 |
667,795 |
|
Dividends payable |
153,121 |
57,749 |
|
Other Accounts payable |
9,719,066 |
10,382,670 |
|
Non-current liabilities due within one year |
4,271,471 |
10,708,369 |
|
Other current liabilities |
292,748 |
2,479,172 |
|
|
----------------- |
----------------- |
|
Current liabilities |
131,305,844 |
128,719,838 |
|
Non-current liabilities |
82,948,253 |
85,981,363 |
|
|
------------------ |
------------------ |
|
Total liabilities |
214,254,097 |
214,701,201 |
|
Shareholders equities |
67,900,015 |
|
|
|
------------------ |
------------------ |
|
Total liabilities & equities |
282,176,714 |
282,601,216 |
|
|
============= |
============= |
Consolidated Income Statement
Unit:
CNY’000
|
|
Jan. 1 to Sep. 30, 2017 |
as of Dec. 31, 2016 |
|
Turnover |
103,571,319 |
140,450,699 |
|
Cost of goods sold |
86,448,337 |
118,193,075 |
|
Taxes and additional of main operation |
939,162 |
1,715,936 |
|
Sales expense |
6,282,651 |
8,651,590 |
|
Management expense |
5,094,327 |
7,245,767 |
|
Finance expense |
3,216,678 |
2,411,897 |
|
Asset impairment loss |
886,724 |
2,356,981 |
|
Other expenses |
-31 |
0 |
|
Income from changes in fair value |
-28,828 |
350,070 |
|
Investment income |
813,583 |
3,521,604 |
|
Other income |
4,971 |
0 |
|
Non-operating income |
1,482,425 |
2,900,549 |
|
Non-operating expense |
118,292 |
292,229 |
|
Profit before tax |
2,857,330 |
6,355,447 |
|
Less: profit tax |
1,057,182 |
2,478,073 |
|
Net profit |
1,800,148 |
3,877,374 |
Important Ratios
=============
|
|
as of Sep. 30, 2017 |
as of Dec. 31, 2016 |
|
*Current ratio |
1.25 |
1.29 |
|
*Quick ratio |
0.68 |
0.70 |
|
*Liabilities to assets |
0.76 |
0.76 |
|
*Net profit margin (%) |
1.74 |
2.76 |
|
*Return on total assets (%) |
0.64 |
1.37 |
|
*Inventory /Turnover ×365 |
/ |
198 days |
|
*Accounts receivable/Turnover ×365 |
/ |
48 days |
|
*Turnover/Total assets |
0.37 |
0.50 |
|
* Cost of goods sold/Turnover |
0.83 |
0.84 |
PROFITABILITY: FAIRLY GOOD
The turnover of SC appears good in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s cost of goods sold is average, comparing with its
turnover.
LIQUIDITY: FAIR
The
current ratio of SC is maintained in a normal level.
SC’s
quick ratio is maintained in a fair level.
The
inventory of SC appears large.
The
accounts receivable of SC appears average.
The
short-term loan of SC appears fairly large.
SC’s
turnover is in a fair level, comparing with the size of its total assets.
LEVERAGE: AVERAGE
The
debt ratio of SC is fairly high.
The
risk for SC to go bankrupt is low.
Overall financial condition of the SC: Fairly stable.
SC is well-known in its industry with fairly stable financial
conditions. The large amount of inventory and short loans could be a threat to SC’s
financial condition. Taking into consideration of SC’s operation size, general
performance, reputation as well as favorable background, credit dealings with
SC in favorable terms can be considered.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
|
CNY |
1 |
INR 10.27 |
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.