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MIRA INFORM REPORT
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Report No. : |
494219 |
|
Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
HYOSUNG GOODSPRINGS, INC. |
|
|
|
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Formerly Known As : |
HYOSUNG EBARA CO., LTD. |
|
|
|
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Registered Office : |
119, Mapo-Daero, Mapo-Gu, Seoul, 6FL., Hyosung Bldg., Korea 04144 |
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|
|
|
Country : |
South Korea |
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|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
12.10.1989 |
|
|
|
|
Com. Reg. No.: |
105-81-61015 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
· Manufacture of Pumps for Liquids (Booster System, HES, IFW, HSB/HDB, Piston Pump) · Heating, Air Conditioning and Plumbing Related Works |
|
|
|
|
No. of Employees : |
491 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
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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) |
|
South Korea |
A1 |
A1 |
|
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 |
SOUTH KOREA - ECONOMIC OVERVIEW
After emerging from the 1950-53 war with North Korea, South Korea emerged as one of the 20th century’s most remarkable economic success stories, becoming a developed, globally connected, high-technology society within decades. In the 1960s, GDP per capita was comparable with levels in the poorest countries in the world. In 2004, South Korea joined the trillion-dollar club of world economies.
Beginning in the 1960s under President PARK Chung-hee, the government promoted the import of raw materials and technology, encouraged saving and investment over consumption, kept wages low, and directed resources to export-oriented industries that remain important to the economy to this day. Growth surged under these policies, and frequently reached double-digits in the 1960s and 1970s. Growth gradually moderated in the 1990s as the economy matured, but remained strong enough to propel South Korea into the ranks of the advanced economies of the OECD by 1997. These policies also led to the emergence of family-owned chaebol conglomerates such as Daewoo, Hyundai, and Samsung, which retained their dominant positions even as the government loosened its grip on the economy amid the political changes of the 1980s and 1990s.
The Asian financial crisis of 1997-98 hit South Korea’s companies hard because of their excessive reliance on short-term borrowing, and GDP ultimately plunged by 7% in 1998. South Korea tackled difficult economic reforms following the crisis, including restructuring some chaebols, increasing labor market flexibility, and opening up to more foreign investment and imports. These steps lead to a relatively rapid economic recovery. South Korea also began expanding its network of free trade agreements to help bolster exports, and has since implemented 16 free trade agreements covering 58 countries—including the United State and China—that collectively cover more than three-quarters of global GDP.
In 2017, the election of President MOON Jae-in brought a surge in consumer confidence, in part, because of his successful efforts to increase wages and government spending. These factors combined with an uptick in export growth to drive real GDP growth to more than 3%, despite disruptions in South Korea’s trade with China over the deployment of a US missile defense system in South Korea.
In 2018 and beyond, South Korea will contend with gradually slowing economic growth - in the 2-3% range - not uncommon for advanced economies. This could be partially offset by efforts to address challenges arising from its rapidly aging population, inflexible labor market, continued dominance of the chaebols, and heavy reliance on exports rather than domestic consumption. Socioeconomic problems also persist, and include rising inequality, poverty among the elderly, high youth unemployment, long working hours, low worker productivity, and corruption.
|
Source
: CIA |
Basic
Information
|
Company Name |
HYOSUNG GOODSPRINGS, INC. (Ex. Company Name : HYOSUNG EBARA CO.,
LTD.) |
|
Registered Address |
119, Mapo-daero, Mapo-gu, Seoul, Korea |
|
Building |
6FL., Hyosung Bldg. |
|
Zip Code |
04144 |
|
Tel |
+82-2-707-7000 |
|
Fax |
+82-2-3279-8200 |
|
E-mail |
vincent@hyosung.com;hec-cgyi@hyosung.com |
|
Website |
www.hsgoodsprings.com |
|
Trading Address |
6FL.,
Hyosung Bldg., 119, Mapo-daero, Mapo-gu, Seoul, Korea (Old Address System : 6FL., Hyosung Bldg., 450, Gongdeok-dong, Mapo-gu, Seoul, Korea) |
|
Tel |
+82-2-3279-8245 |
|
Fax |
+82-2-3279-8200 |
|
Other Address-Changwon Factory |
303, Gongdan-ro, Seongsan-gu, Changwon-si,
Gyeongsangnam-do, Korea (Old Address System : 43-1, Ungnam-dong,
Seongsan-gu, Changwon-si, Gyeongsangnam-do, Korea) |
|
Tel |
+82-55-268-8311 |
|
Fax |
+82-55-281-0092 |
|
Other Address-Gimhae Factory |
158-20, Golden root-ro, Juchon-myeon, Gimhae-si, Gyeongsangnam-do,
Korea (Old Address System : 873-3, Mangdeok-ri,
Juchon-myeon, Gimhae-si, Gyeongsangnam-do, Korea) |
|
Tel |
+82-55-340-4407 |
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Pumps for Liquids |
|
Main Business |
Booster System, HES, IFW, HSB/HDB, Piston Pump |
|
Sub
Business |
Heating, Air Conditioning and Plumbing Related Works |
|
Established (mm/dd/yyyy) |
10/12/1989 |
Detailed
Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Turbine pumps(40151526) |
|
Sell |
Atomizers(40141742) |
|
Sell |
Pumps(40151500) |
|
Sell |
Water treatment and supply equipment(47101500) |
|
Sell |
Water pumps(40151510) |
CEO’s
|
Name |
Lim Woo-Seop |
|
Date of Birth |
05/13/1960 |
|
Title |
President & CEO |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
18,000,000,000 |
|||||||||
|
Employees |
491 |
|||||||||
|
Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation A Company of HYOSUNG GROUP |
|||||||||
|
Bank Details |
Woori Bank Shinhan Bank-Finance Sales Dept. KEB Hana Bank Nonghyup Bank |
|||||||||
|
Corporate Registered No. |
110111-0653653 |
|||||||||
|
Business Registered No. |
105-81-61015 |
|||||||||
|
Permit & Licenses |
04/20/2004 KS Mark 11/12/2004 ISO 9001 by BVQI(UK) 08/2005 KS Mark 07/2008 CE Mark Int’l Trade No.: 538046 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
10/12/1989 Incorporated as a JV between HYOSUNG CORPORATION(110111-0030497) and EBARA WORKS CO.,
LTD.(JAPAN) 10/24/1989 Registered as a Foreign Direct
Investment Corporation 01/13/1995 Increased capital to 18,000,000,000 KRW from 6,000,000,000
KRW 01/26/1995 Increased the authorized shares to 3,600,000 KRW from
2,400,000 shares 09/28/2010 Changed company name to the present name 03/11/2016 Moved to the present HQ address from 137, Mapo-daero,
Mapo-gu, Seoul, Korea(Old Address System : 473, Gongdeok-dong, Mapo-gu,
Seoul, Korea) |
Management
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Lim Woo-Seop |
Korean |
05/13/1960 |
03/25/2011 |
|
Director |
Lee Sang-Woon |
Korean |
03/18/1952 |
03/09/2001 |
|
Director |
Lee Cheol-Koo |
Korean |
07/16/1966 |
03/30/2015 |
|
Director |
Hyun Cheol |
Korean |
01/15/1962 |
06/23/2016 |
|
Director |
Song Sung-Jin |
Korean |
02/03/1948 |
03/26/2014 |
|
Auditor |
Song Sung-Jin |
Korean |
02/03/1948 |
03/26/2014 |
|
Supervisor of HQ Office |
Ryu Dong-Soo |
Korean |
03/26/1961 |
03/26/2004 |
|
Supervisor of HQ Office |
Yoon Seung-Koo |
Korean |
03/05/1970 |
03/26/2004 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2016 |
268,018,162,527 |
209,396,239,154 |
6,500,650,453 |
|
2015 |
283,232,498,743 |
227,064,996,306 |
8,049,885,531 |
|
2014 |
291,197,193,778 |
221,879,397,036 |
11,212,459,905 |
|
2013 |
266,329,743,496 |
212,174,927,542 |
5,668,491,221 |
|
2012 |
324,075,209,066 |
180,838,615,786 |
6,839,090,623 |
|
2011 |
181,667,740,425 |
164,060,165,690 |
-22,633,590,553 |
|
2010 |
262,101,326,815 |
156,349,181,857 |
24,564,491,597 |
|
217,149,157,222 |
142,746,460,555 |
17,325,410,838 |
|
|
2008 |
165,561,696,516 |
108,690,320,461 |
11,974,659,070 |
|
2007 |
129,464,275,891 |
89,399,629,182 |
9,676,907,242 |
|
2006 |
105,394,660,563 |
78,730,998,986 |
6,030,515,469 |
|
2005 |
85,362,917,552 |
63,845,771,441 |
4,152,034,211 |
Financial
Description
|
Authorized Capital(KRW) |
36,000,000,000 |
|
Paid-Up Capital(KRW) |
18,000,000,000 |
|
Total Issued Shares |
1,800,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2016 |
As of 12/31/2015 |
As of 12/31/2014 |
|
Total
Assets |
209,396,239,154 |
227,064,996,306 |
221,879,397,036 |
|
Current Assets |
119,427,764,305 |
131,969,031,646 |
126,347,134,450 |
|
Cash
& Cash Equivalents |
5,025,116,251 |
878,419,831 |
7,530,139,205 |
|
Trade
Receivables & Other Receivables |
63,252,823,356 |
64,461,295,883 |
53,586,083,321 |
|
Other
Receivables-Construction |
317,589,785 |
1,947,260,495 |
1,298,537,292 |
|
Current
Financial Instruments |
|
|
540,988,476 |
|
Other
Current Assets |
4,729,936,093 |
6,427,727,510 |
4,725,031,992 |
|
Inventories |
46,102,298,820 |
58,254,327,927 |
58,510,916,050 |
|
Deferred
Income Tax Assets |
|
|
155,438,114 |
|
Non-Current Assets |
89,968,474,849 |
95,095,964,660 |
95,532,262,586 |
|
Long-Term
Trade Receivables & Other Receivables |
36,287,686,608 |
39,645,813,126 |
36,505,384,075 |
|
Tangibles |
41,550,297,690 |
43,478,456,428 |
47,091,597,696 |
|
Intangibles |
6,284,627,466 |
7,296,584,737 |
6,517,928,071 |
|
Deferred
Income Tax Assets |
4,410,288,648 |
3,475,420,369 |
4,217,334,681 |
|
Non-Current
Financial Instruments |
1,435,574,437 |
1,199,690,000 |
1,200,018,063 |
|
Total Liabilities |
138,335,746,889 |
158,803,677,723 |
157,822,011,676 |
|
Current Liabilities |
122,865,562,776 |
115,043,974,423 |
126,950,899,691 |
|
Trade
Payables & Other Payables |
47,625,143,805 |
53,019,281,635 |
53,992,104,528 |
|
Other Payables-Construction |
502,056,204 |
368,555,024 |
834,187,141 |
|
Short-Term
Borrowings |
25,000,000,000 |
28,300,000,000 |
35,000,000,000 |
|
Current
Portion of Long-Term Debts |
24,850,000,000 |
9,700,000,000 |
9,850,000,000 |
|
Other
Current Financial Debts |
|
|
2,845,026,885 |
|
Other
Current Liabilities |
22,627,795,735 |
22,497,677,954 |
24,429,581,137 |
|
Deferred Income Tax Credit |
2,260,567,032 |
1,158,459,810 |
- |
|
Non-Current Liabilities |
15,470,184,113 |
43,759,703,300 |
30,871,111,985 |
|
Long-Term
Trade Payables & Other Payables |
693,058,091 |
796,826,874 |
752,249,136 |
|
Long-Term
Borrowings |
4,850,000,000 |
34,550,000,000 |
24,250,000,000 |
|
Provision
for Severance & Retirement |
3,543,351,460 |
4,095,435,664 |
3,465,937,716 |
|
Other
Non-Current Provisions Liabilities |
5,423,020,970 |
3,740,784,704 |
2,023,823,502 |
|
Other
Non-Current Liabilities |
960,753,592 |
576,656,058 |
379,101,631 |
|
Capital Stock |
18,000,000,000 |
18,000,000,000 |
18,000,000,000 |
|
Profit
Surplus |
53,060,492,265 |
50,261,318,583 |
46,057,385,360 |
|
Total
Equity |
71,060,492,265 |
68,261,318,583 |
64,057,385,360 |
|
Liab.
& Shareholder’s Equity |
209,396,239,154 |
227,064,996,306 |
221,879,397,036 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2016 |
As of 12/31/2015 |
As of 12/31/2014 |
|
Sales |
268,018,162,527 |
283,232,498,743 |
291,197,193,778 |
|
Cost
of Sold Goods |
228,680,492,212 |
232,603,571,468 |
232,224,805,758 |
|
Gross
Profit |
39,337,670,315 |
50,628,927,275 |
58,972,388,020 |
|
Selling
& Admin. Expenses |
29,607,780,997 |
25,940,090,689 |
28,470,476,567 |
|
R&D |
5,534,002,724 |
7,096,819,996 |
6,133,500,792 |
|
Operating
Income |
4,195,886,594 |
17,592,016,590 |
24,368,410,661 |
|
Other
Income |
8,278,733,967 |
3,986,541,547 |
3,474,895,001 |
|
Other
Expenses |
2,893,722,331 |
9,097,894,878 |
11,056,008,628 |
|
Finance
Income |
3,603,078,753 |
4,151,820,673 |
2,717,168,033 |
|
Finance
Expenses |
4,746,993,073 |
6,286,127,555 |
4,972,841,294 |
|
Income
Before Taxes |
8,436,983,910 |
10,346,356,377 |
14,531,623,773 |
|
Income
Taxes Expenses |
1,936,333,457 |
2,296,470,846 |
3,319,163,868 |
|
Net
Income |
6,500,650,453 |
8,049,885,531 |
11,212,459,905 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2016 |
As of 12/31/2015 |
As of 12/31/2014 |
|
Operating Activities Cash Flows |
30,202,344,287 |
-4,692,484,669 |
17,858,812,286 |
|
Cash
Flows from Operating |
34,491,611,849 |
-1,509,264,994 |
22,756,831,681 |
|
Income
Taxes |
-1,740,472,860 |
-171,287,446 |
-1,738,417,027 |
|
Interests
Paid |
-2,559,162,080 |
-3,063,758,044 |
-3,298,984,719 |
|
Interests
Received |
9,867,378 |
51,825,815 |
139,382,351 |
|
Dividends
Received |
500,000 |
- |
|
|
Cash Flows from Investing |
-4,671,878,202 |
-1,804,527,292 |
-15,057,206,690 |
|
Cash
Inflow from Investing |
883,135,810 |
1,518,396,608 |
1,014,512,481 |
|
Cash
Outflows for Investing |
-5,555,014,012 |
-3,322,923,900 |
-16,071,719,171 |
|
Cash Flows from Financing |
-21,450,000,000 |
-150,000,000 |
1,941,600,000 |
|
Cash
Inflows from Financing |
5,000,000,000 |
63,800,000,000 |
50,348,720,727 |
|
Cash
Outflows from Financing |
-26,450,000,000 |
-63,950,000,000 |
-48,407,120,727 |
|
Increase/Decrease in Cash |
4,080,466,085 |
-6,647,011,961 |
4,743,205,596 |
|
Cash at the Beginning of Year |
878,419,831 |
7,530,139,205 |
2,722,746,599 |
|
Cash at the End of Year |
5,025,116,251 |
878,419,831 |
7,530,139,205 |
Products, Technologies, Services
Description
|
Main Products & Services |
Booster System, HES, IFW, HSB/HDB, Piston Pump |
Trade Partners & Competitors
|
Suppliers |
HYOSUNG
CORPORATION(110111-0030497) |
|
Customers |
HYOSUNG
CORPORATION(110111-0030497) |
|
Competitors |
FOOSUNG PRECISION CO., LTD. 584-1, GAJAE-RI, PALTAN-MYEON, HWASEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-352-9111 FAX:+82-31-352-6361 SEI HWA MACHINERY CO., LTD. 90-25, ILSIN-DONG, BUPYEONG-GU, INCHEON,
KOREA TEL:+82-32-503-3036 FAX:+82-32-519-3645 HANDOL PUMPS LIMITED 20B-12L, NAMDONG INDUSTRIAL COMPLEX,
428-10, NONHYEON-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-818-0105 FAX:+82-32-818-0109 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates-Domestic |
HYOSUNG CORPORATION(110111-0030497) HYOSUNG ITX CO., LTD.(110111-1412256) CHINHUNG INTERNATIONAL INC.(110111-0006349) HYOSUNG
INFORMATION SYSTEMS CO., LTD.(110111-0405806) VARO VISION CO., LTD.(110111-1081928) NAUTILUS HYOSUNG INC.(110111-0511546) HYOSUNG CAPITAL CO., LTD.(110111-1419286 ) HYOSUNG-EBARA CO., LTD.(110111-0653653) HYOSUNG INVESTMENT & DEVELOPMENT
CORPORATION(110111-0216451) HYOSUNG CONSTRUCTION CO.,
LTD.(110111-0225204) HYOSUNG EBARA ENGINEERING CO.,
LTD.(110111-1375818) HYOSUNG TRANS WORLD CO., LTD.(110111-1396848) DOOMI CONSTRUCTION CO.,
LTD.(134411-0010833) HONGJIN DATA SERVECE CO.,
LTD.(110111-2108086) AEGIS HYOSUNG CO., LTD.(110111-2109034) THE CLASS HYOSUNG CO., LTD.(110111-2875479) GUMOK NONGSAN CO., LTD.(141111-0028198 ) HYOSUNG WIND POWER HOLDINDS CO.,
LTD.(141111-0028461) INFO BADA CO., LTD.(110111-1849847) EPIPLUS CO., LTD.(110111-1973662) GALAXIA ELECTRONICS CO.,
LTD.(110111-3537672) GANGNUNG WIND POWER CO.,
LTD.(141111-0029360) KIS-BANK INC(110111-1920506) HYOSUNG FMS INC.(110111-3694349 ) STAR LEASE CO., LTD.(110111-0383383) HANIL RENTAL CO., LTD.(110111-0847826) TAEUK CONSTRUCTION CO.,
LTD.(180111-0388777) GALAXIA COMMUNICATIONS CO.,
LTD.(110111-2558174) TAEAN SOLAPHARM CO., LTD.(165111-0007293) LUXMAX NETWORK CO., LTD.(131111-0172583) LUXMAX CO., LTD.(134211-0077473) JASON GOLF CO., LTD.(110111-3548653) INFO HUB CO., LTD.(110111-1819171) NAMU ACTORS CO., LTD.(110111-2936792) FLOWER ENTERTAINMENT CO.,
LTD.(110111-3390864) TERA DISPLAY CO., LTD.(131111-0154325) |
|
Affiliates-Overseas |
BAODING HYOSUNG TIANWEI TRANSFORMER CO.,
LTD. BEIJING HYOSUNG COMPUTER TECHNOLOGIES CO.,
LTD. BEIJING HYOSUNG CONTAINER CO., LTD. BEIJING HYOSUNG FOOD & BEVERAGE CO.,
LTD. HICO AMERICA SALES & TECHNOLOGY, INC. HYOSUNG AMERICA INC. HYOSUNG BRASIL INDUSTRIAL & COMMERCIAL
LTDA HYOSUNG CHEMICAL FIBER(JIAXING) CO., LTD. HYOSUNG DEUTSCHLAND GMBH HYOSUNG EUROPE SRL HYOSUNG (H.K) LIMITED HYOSUNG INTERNATIONAL TRADE (JIAXING) CO.,
LTD. HYOSUNG ISTANBUL TEKSTIL LTD.STI HYOSUNG JAPAN CO, LTD. HYOSUNG LUXEMBOURG S.A HYOSUNG POWER HOLDINGS LTD. HYOSUNG RESOURCES (AUSTRALIA) PTY LTD. HYOSUNG SINGAPORE PTE LTD. HYOSUNG SPANDEX (GUANGDONG) CO., LTD. HYOSUNG SPANDEX (JIAXING) CO., LTD. HYOSUNG SPANDEX (ZHUHAI) CO., LTD. HYOSUNG STEELCORD (NANJING) CO., LTD. HYOSUNG STEELCORD (QINGDAO) CO., LTD. HYOSUNG VIETNAM CO., LTD. HYOSUNG USA INC. LANKA SYNTHETIC FIBRE CO., LTD. NANTONG HYOSUNG TRANSFORMER CO., LTD. NAUTILUS HYOSUNG AMERICA INC. OPCO GMBH THAI HYOSUNG CO., LTD. XEPIX CORP. ZHANGJIAGANG XIAOSHA COIL SERVICE CO., LTD. HYOSUNG HOLDINGS USA, INC. |
|
Corporate Ownership |
HYOSUNG
CORPORATION(110111-0030497) |
|
Major Shareholders |
HYOSUNG
CORPORATION(110111-0030497) |
|
Cooperative Enterprise |
-Insured Company KB INSURANCE CO., LTD.(110111-0017859) DONGBU INSURANCE CO.,LTD.(110111-0095285) HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) -Technical Support from EBARA WORKS CO., LTD.(JAPAN) FLOW SERVE, INC. |
Sales by Region (Activity & Markets)
The Subject deals
with the companies in Taiwan, India, Japan, Malaysia and Singapore.
Court
Action
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
Daegu High Court |
The Subject Company |
Korea Hydro & Nuclear Power Co., Ltd.(110111-2207127) |
Cancellation of Restriction of Position |
50,000,000 |
The Subject has won at 1~2nd round. 3rd round is proceeding |
|
|
ICC, Swiss, Geneva |
The Subject Company |
AIT, KAMEL |
Related to SOUTH PARS Gas Field Development Project #12~13, 15~16,
22~24 |
5,068,404,000 |
Under arbitration |
|
|
Seoul High Court |
Lee Soon -Byung(Dongbu Corporation) & Others(1) |
The Subject Company |
Compensation from Damages |
822,843,000 |
The Subject has won partially at 1st round. 2nd round is proceeding |
News
Clipping
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.23 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 79.50 |
|
KRW |
1 |
INR 0.060 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
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.