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MIRA
INFORM REPORT
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Report No. : |
510800 |
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Report Date : |
30.05.2018 |
IDENTIFICATION DETAILS
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Name : |
BASF HONG KONG LIMITED |
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Registered Office : |
45/F., Jardine
House, 1 Connaught Place, Central |
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Country : |
Hong Kong. |
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Date of Incorporation : |
20.12.1977 |
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Com. Reg. No.: |
00614211 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer, Exporter and Wholesaler of Plastic additives,
coating effects, and water & paper treatment |
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No. of Employees : |
240. (Including associates in Asia) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
|
Hong Kong |
A1 |
A1 |
|
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 reexports, 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.
Excess liquidity, low interest rates and a tight housing supply have caused Hong Kong property prices to rise rapidly. The lower and middle-income segments of the population increasingly find housing unaffordable.
Hong Kong's open economy has left it exposed to the global economic situation. Its continued reliance on foreign trade and investment makes it vulnerable to renewed global financial market volatility or a slowdown in the global economy.
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 surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. After peaking in 2014, overall tourist arrivals dropped 2.5% in 2015 and 4.5% in 2016. The tourism sector rebounded in 2017, with visitor arrivals rising 3.2% to 58.47 million. Travelers from Mainland China totaled 44.45 million, accounting for 76% of the total.
The Hong Kong Government is promoting the Special Administrative Region (SAR) as the preferred business hub for 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, RMB trade settlement is allowed, and investment schemes such as the Renminbi Qualified Foreign Institutional Investor (RQFII) Program was first launched in Hong Kong. Offshore RMB activities experienced a setback, however, after the People’s Bank of China changed the way it set the central parity rate in August 2015. RMB deposits in Hong Kong fell from 1.0 trillion RMB at the end of 2014 to 559 billion RMB at the end of 2017, while RMB trade settlement handled by banks in Hong Kong also shrank from 6.8 trillion RMB in 2015 to 3.9 trillion RMB in 2017.
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 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 66% 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 (CEPA), adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, which took effect in March 2015, cover a negative list and a most-favored treatment provision. On the basis of the Guangdong Agreement, the Agreement on Trade in Services signed in November 2015 further enhanced liberalization, including extending the implementation of the majority of Guangdong pilot liberalization measures to the whole Mainland, reducing the restrictive measures in the negative list, and adding measures in the positive lists for cross-border services as well as cultural and telecommunications services. In June 2017, the Investment Agreement and the Agreement on Economic and Technical Cooperation (Ecotech Agreement) were signed under the framework of CEPA.
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 Hong Kong- Shenzhen Stock Connect the Mutual Recognition of Funds, and the Bond Connect scheme are all important steps towards opening up the Mainland’s capital markets and have reinforced Hong Kong’s role as China’s leading offshore RMB market. Additional connect schemes such as ETF Connect (for exchange-traded fund products) are also under exploration by Hong Kong authorities. In 2017, Chief Executive Carrie LAM announced plans to increase government spending on research and development, education, and technological innovation with the aim of spurring continued economic growth through greater sector diversification.
|
Source : CIA |
Company name and address
BASF HONG
KONG LIMITED
ADDRESS: 45/F.,
Jardine House, 1 Connaught Place, Central, Hong Kong.
PHONE: 852-2731
0111, 852-2731 1222, 852-2731 1500
FAX: 852-2731
5631, 852-2734 9631
E-MAIL: basf@basf-china.com.hk
MANAGEMENT
Managing
Director: Mr. Johann Friedrich Ulrich Boettger
SUMMARY
Incorporated on: 20th
December, 1977.
Organization: Private
Limited Company.
Issued Share Capital: HK$54,000,000.00
Business Category: Specialty Chemicals Manufacturer and
Trader.
Group Sales:- (Year
ended 31-12-2017)
€64,475
million (The BASF Group)
€13,658
million (Asia Pacific Region)
Company
Employees: 240. (Including associates in
Asia)
Group Employees: 115,490. (As at 31-12-2017)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Banking
Relation: Good.
ADDRESS
Registered Head
Office:-
45/F., Jardine House,
1 Connaught Place, Central, Hong Kong.
Immediate Holding
Company:-
BASF East Asia
Regional Headquarters Ltd., Hong Kong.
Ultimate Holding
Company:-
BASF SE (or known as
BASF Societas Europaea)
Carl-Bosch-Strabe 38, 67056
Ludwigshafen, Germany.
[Tel:
49-621-60-0; Fax: 49-621-60-42525]
Affiliated
Companies:-
BASF Group of
Companies
Asia Pacific Region
Allied Colloids
(Asia) Ltd., Hong Kong.
BASF (China) Co. Ltd., China.
BASF (Malaysia) Sdn. Bhd., Malaysia.
BASF (Thai) Ltd., Thailand.
BASF Advanced Chemicals Co. Ltd., China.
BASF Agricultural Specialties Pty. Ltd., Australia.
BASF Asia-Pacific Service Centre Sdn. Bhd., Malaysia.
BASF Australia Ltd., Australia.
BASF Bangladesh Ltd., Bangladesh.
BASF Battery Materials (Suzhou) Co. Ltd., China.
BASF Care Chemicals (Shanghai) Co. Ltd., China.
BASF Catalysts (Guilin) Co. Ltd., China.
BASF Catalysts (Shanghai) Co. Ltd., China.
BASF Catalysts India Pvt. Ltd., India.
BASF Central Asia LLP, Kazakhstan.
BASF Chemcat (Thailand) Ltd., Thailand.
BASF Chemicals Co. Ltd., China.
BASF Chemicals India Pvt. Ltd., India.
BASF China Ltd., Hong Kong.
BASF Co. Ltd., Korea.
BASF Coatings (Guangdong) Co. Ltd., China.
BASF Coatings + Inks Philippines Inc., Philippines.
BASF Coatings International Trade (Shanghai) Co. Ltd., China.
BASF Colors & Effects Japan Ltd., Japan.
BASF Colors & Effects Korea Ltd., Korea.
BASF Colors & Effects Shanghai Ltd., China.
BASF Colors & Effects Singapore Pte. Ltd., Singapore.
BASF Construction Chemicals (Beijing) Co. Ltd., China.
BASF Construction Chemicals (China) Co. Ltd., China.
BASF Construction Chemicals (Sichuan) Co. Ltd., China.
BASF Construction Chemicals Ltd., Iraq.
BASF Construction Systems (China) Co. Ltd., China.
BASF Crop Protection (Jiangsu) Co. Ltd., China.
BASF Electronic Materials (Shanghai) Co. Ltd., China.
BASF Gao-Qiao Performance Chemicals (Shanghai) Co. Ltd., China.
BASF Grameen Ltd., Bangladesh.
BASF High Purity Electronic Chemicals Production, China.
BASF HOCK Mining Chemical (China) Co. Ltd., China.
BASF Idemitsu Co. Ltd., Japan.
BASF India Ltd., India.
BASF INOAC Polyurethanes Ltd., Japan.
BASF Intertrade (Shanghai) Co. Ltd., China.
BASF Japan Ltd., Japan.
BASF Kaspian Yapi kimyasallari Sanayi mehud mesuliyyetli cemiyyeti, Azerbaijan.
BASF Lanka (Pvt) Ltd., Sri Lanka.
BASF Markor Chemical Manufacturing (Xinjiang) Co. Ltd., China.
BASF Metals (Shanghai) Co. Ltd., China.
BASF Metals Japan Ltd., Japan.
BASF MPCC Co. Ltd., China.
BASF Myanmar Ltd., Myanmar.
BASF New Zealand Ltd., New Zealand.
BASF Pakistan (Pvt) Ltd., Pakistan.
BASF Paper Chemicals (Huizhou) Co. Ltd., China.
BASF Paper Chemicals (Jiangsu) Co. Ltd., China.
BASF Performance Products Ltd., China.
BASF PETRONAS Chemicals Sdn. Bhd., Malaysia.
BASF Philippines Inc., Philippines.
BASF PJPC Neopentylglycol Co. Ltd., China.
BASF Polyurethane Specialties (China) Co. Ltd., China.
BASF Polyurethanes (China) Co. Ltd., China.
BASF Polyurethanes (Chongqing) Co. Ltd., China.
BASF Polyurethanes (Tianjin) Co. Ltd., China.
BASF Qingdao Pigments Co. Ltd., China.
BASF See Sen Sdn. Bhd., Malaysia.
BASF Services (Malaysia) Sdn. Bhd., Malaysia.
BASF Shanghai Coatings Co. Ltd., China.
BASF South East Asia Pte. Ltd., Singapore.
BASF Specialty Chemicals (Nanjing) Co. Ltd., China.
BASF Taiwan Ltd., Taiwan.
BASF TODA Battery Materials LLC, Japan.
BASF Trading (Shanghai) Co. Ltd., China.
BASF Vietnam Co. Ltd., Vietnam.
BASF Vitamins Co. Ltd., China.
BASF-YPC Co. Ltd., China.
Becker Underwood Australia Pty. Ltd., Australia.
BNC Color Techno Co. Ltd., Japan.
Changchun Chemetall Chemicals Co. Ltd., China.
Chemetall (Australasia) Pty. Ltd., Australia.
Chemetall (Thailand) Co. Ltd., Thailand.
Chemetall Asia Pte. Ltd., Singapore.
Chemetall Hong Kong Ltd., Hong Kong.
Chemetall India Pvt. Ltd., India.
Chemetall New Zealand Ltd., New Zealand.
Chemetall Philippines Co. Ltd. Inc., Philippines.
Chemetall Surface Technologies China Co. Ltd., China.
Chemetall Surface Treatment Holding Co. Ltd., Thailand.
Chongqing Chemetall Surface Treatment Co. Ltd., China.
Ciba (Australia) Pty. Ltd., Australia.
Cognis Chemicals (HK) Ltd., Hong Kong.
Cognis Chemicals Trade (Shanghai) Co. Ltd., China.
Doobon Fine Chemical Co. Ltd., Korea.
Engelhard (Shanghai) Co. Ltd., China.
Engelhard China Ltd., China.
Eternal Specialty Chemical (Zhuhai) Co. Ltd., China.
Foosung Technologies (Nantong) Co. Ltd., China.
Foshan Chemetall Surface Treatment Co., China.
Heesung Catalysts Corporation, Korea.
Heesung PMTech Corporation, Korea.
KOLON BASF innoPOM Jushikheosa, Korea.
Markor Meiou Chemical (Xinjiang) Co. Ltd., China.
N.E. Chemcat Corporation, Japan.
Nanjing Chemetall Surface Technologies Co. Ltd., China.
Nihon Splice Sleeve Ltd., Japan.
Nisso BASF Agro Co. Ltd., Japan.
P.T. BASF Care Chemicals Indonesia, Indonesia.
P.T. BASF Indonesia, Indonesia.
Pigment Manufacturers of Australia Ltd., Australia.
Santoku BASF Pte. Ltd., Singapore.
Shanghai BASF Polyurethane Co. Ltd., China.
Shanghai Chemetall Chemicals Co. Ltd., China.
Shanghai Gaoqiao-BASF Dispersions Co. Ltd., China.
Shanghai Lianheng Isocyanate Co. Ltd., China.
Shanghai MBT & SCG High-Tech Construction Chemical Co. Ltd., China.
Taiko Shoji Ltd., Japan.
Thai Ethoxylate Co. Ltd., Thailand.
Toray BASF PBT Resin Sdn. Bhd., Malaysia.
Yugen Kaisha Sankyo Shoji, Japan.
BUSINESS REGISTRATION NUMBER:
00614211
COMPANY FILE NUMBER
0057377
MANAGEMENT
Managing
Director: Mr. Johann Friedrich Ulrich Boettger
ISSUED SHARE CAPITAL
HK$54,000,000.00
SHAREHOLDER
(As per registry
dated 20-12-2017)
|
Name |
|
No. of shares |
|
BASF East Asia
Regional Headquarters Ltd., Hong Kong. |
|
54,000,000 ======== |
DIRECTORS
(As per registry
dated 20-12-2017)
|
Name (Nationality) |
Address |
|
KI Wing Man, Teresa |
Flat C, 23/F.,
Tower 4, Les Saisons, 28 Tai On Street, Sai Wan Ho, Hong Kong. |
|
Dr. Stephen
KOTHRADE |
Building Fraser
Suites, Unit 7282 No. 7, Lane 600, Middle Yincheng Road, Shanghai 200120,
China. |
|
Mirko BENGEL |
No. 418, Jinxiu
East Road, Greenhills No. 247, Pudong New District, Shanghai, China. |
|
Johann Friedrich
Ulrich BOETTGER |
House H, Casa Del
Sol, 33 Ching Sau Lane, Chung Hom Kok, Hong Kong. |
|
Andrea FRENZEL |
Garden House No.
69, Headland Drive, Headland Village, Discovery Bay City, Lantau Island, Hong
Kong. |
SECRETARY
(As per registry
dated 20-12-2017)
|
Name |
Address |
Co. No. |
|
Tricor Secretaries
Ltd. |
Level 54, Hopewell
Centre, 183 Queen’s Road East, Hong Kong. |
0014900 |
HISTORY
The subject was
incorporated on 20th December, 1977 as a private limited liability company
under the Hong Kong Companies Ordinance.
Originally the subject
was registered under the name of Ciba-Geigy (Hong Kong) Ltd., name changed
to Ciba Specialty Chemicals (Hong Kong) Ltd. on 15th January, 1997, to Ciba
(Hong Kong) Ltd. on 26th July, 2007, and further to the present style on 28th
December, 2009.
Formerly the
registered head office was located at 13/F., Warwick House, Taikoo Place, 979
King’s Road, Quarry Bay, Hong Kong, moved to combine with its laboratory and
godown at 61-69 Yau Ma Hom Road, Kwai Chung, New Territories, Hong Kong in
August 1998. In November 2005, the
registered office was relocated at Suite 1104-1106, 11/F., Tower 2,
The Gateway, Harbour City, 25 Canton Road, Tsimshatsui, Kowloon,
Hong Kong, and subsequently to the present address in January 2010.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer,
Importer, Exporter and Wholesaler.
Lines: Plastic
additives, coating effects, and water & paper treatment, etc.
Company Employees: 240.
(Including associates)
Group Employees: 115,490.
(As at 31-12-2017)
Materials/Commodities: Imported from Europe, Israel, etc.
Markets: Hong
Kong, China, other Asian countries, Europe, etc.
Group Sales:-
|
FY/Period |
The BASF Group |
Asia Pacific
Region |
|
Year ended
31-12-2013 |
€73,973 million |
€11,679 million |
|
Year ended
31-12-2014 |
€74,326 million |
€11,643 million |
|
Year ended
31-12-2015 |
€70,449 million |
€11,712 million |
|
Year ended
31-12-2016 |
€57,550 million |
€11,512 million |
|
Year ended
31-12-2017 |
€64,475 million |
€13,658 million |
Terms/Sales: On
various terms.
Terms/Buying: As
per contracted.
GOVERNMENT CONTRACT
AWARDED SINCE 1999:
|
Date |
GN No. |
Particulars |
Amount |
|
28-05-1999 |
GN3001 |
Supply of
polyelectrolyte (Type I) |
HK$4,338,880
F.I.S./Hong Kong with ±20%
variation (not exceeding HK$5,206,656) |
|
26-10-2001 |
GN6719 |
Supply of anionic
polymer |
HK$901,120
F.I.S./Hong Kong with ±30%
variation (not exceeding HK$1,171,456) |
|
27-10-2006 |
GN6881 |
Supply of cationic
polymer |
US$2,565,000
(F.I.S./Hong Kong) |
|
27-10-2006 |
GN6881 |
Supply of polyelectrolyte
(Type IV) |
HK$6,807,500
(F.I.S./Hong Kong) |
|
30-09-2010 |
GN6287 |
Supply of
polyelectrolyte (Type IV) |
HK$7,047,000
(F.I.S./Hong Kong) |
|
26-06-2015 |
GN4717 |
Supply of
polyelectrolyte (Type IV) to the Drainage Services Department |
HK$13,920,000
(F.I.S./Hong Kong) |
FINANCIAL INFORMATION
Issued Share Capital:
HK$54,000,000.00
Group Operating
Income:-
|
FY/Period |
The BASF Group |
Asia Pacific Region |
||
|
Year ended
31-12-2013 |
€7,160 million |
€ 842 million |
||
|
Year ended
31-12-2014 |
€7,626 million |
€ 614 million |
||
|
Year ended
31-12-2015 |
€6,248 million |
€ 445 million |
||
|
Year ended
31-12-2016 |
€6,275 million |
€1,098 million |
||
|
Year ended
31-12-2017 |
€8,522 million |
€2,209 million |
|
|
Profit or Loss: Business
is profitable.
Condition: Keeping
in an active manner.
Facilities: Making
active use of general banking facilities.
Payment: Regular
Commercial
Morality: Good.
Bankers:-
The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Calyon
Corporate & Investment Bank, Hong Kong Branch.
Deutsche
Bank AG, Hong Kong Branch.
Standing: Very
Good.
GENERAL
BASF Hong Kong
Limited [BHKL], incorporated in December 1977, was originally registered as
Ciba-Geigy (Hong Kong) Ltd. [CGHK].
CGHK was a merger of
Ciba and Geigy, two businesses established in Hong Kong in 1947 and 1946
respectively. In 1996, CGHK and Sandoz
were merged; Ciba-Geigy’s industrial divisions spun off to form a specialty chemical
firm - Ciba Specialty Chemicals. On 15th
January, 1997, CGHK was renamed as Ciba Specialty Chemicals (Hong Kong) Ltd.
[CSCHK].
CSCHK was a member of
the Ciba Group. Ciba Holding AG [Ciba
Holding] was the ultimate holding company of Group. Its shares were listed on the SIX Swiss
Exchange, traded on SWX Europe, and its American Depositary Shares traded on
the New York Stock Exchange until 20th July, 2007. Ciba Holding was a global leader in the
discovery and manufacture of innovative specialty chemicals that provide
colour, performance and care for plastics, coatings, paper and other
products. Its products and services were
also used to provide clean water and to treat water streams in industrial and
municipal applications.
On 26th July, 2007,
CSCHK changed its name to Ciba (Hong Kong) Ltd. [Ciba HK].
On 15th September,
2008, BASF SE (or known as BASF Societas Europaea) [BASF] made a public tender
offer to acquire all publicly held shares in Ciba Holding at a price of CHF 50
in cash per share. The offer was accepted
by shareholders in November 2008, and 94.59% of the company’s shares were
acquired by BASF. On 9th April, 2009,
BASF completed the acquisition of Ciba Holding.
The purchase price was €2,178 million.
Following the
acquisition, Ciba HK became a member of the BASF Group. Subsequently, the name of Ciba HK has been
changed to BHKL which is the present style on 28th December, 2009.
Presently, BASF’s
worldwide business is managed by operating divisions that have been aggregated
into 5 segments since 2013: Chemicals, Performance Products, Functional
Solutions, Agricultural Solutions, Oil & Gas.
Chemicals
In the Chemicals
segment, the Group supplies products to customers in the chemical, electronics,
construction, textile, automotive, pharmaceutical and agricultural industries
as well as many others.
Performance Products
Performance Products
lend stability and colour to countless everyday items and help to improve their
application profile. Its product
portfolio includes vitamins and food additives as well as ingredients for
pharmaceuticals and for hygiene, home and personal care items.
Functional Materials
& Solutions
In the Functional
Materials & Solutions segment, the Group bundles system solutions, services
and innovative products for specific sectors and customers, in particular for
the automotive, electrical, chemical and construction industries as well as for
household appliances, sports and leisure products.
Agricultural
Solutions
Crop protection
products guard against fungal diseases, insects and weeds, increase the quality
of agricultural products and secure crop yields. Its research in plant biotechnology
concentrates on plants for greater efficiency in agriculture, better nutrition,
and use as renewable raw materials.
Oil & Gas
As the largest German
producer of oil and gas, the Group focuses its exploration and production on
oil- and gas-rich regions in Europe, North Africa, South America, Russia and
the Caspian Sea region. Together with
its Russian partner Gazprom, it is active in the transport, storage and trading
in natural gas in Europe.
BASF currently has
subsidiaries in over 80 countries. In
Greater China it has maintained a number of sales offices, for example in Hong
Kong (the subject BHKL), Beijing, Shanghai, Guangzhou, Nanjing, Qingdao and
Taipei. BASF’s business in Greater China
includes products such as petrochemicals, inorganics, polymer dispersions,
polyurethanes, engineering plastics, coatings, finishing products for the
textile and leather industries, electronic materials, intermediates, catalysts,
construction chemicals, paper chemicals and care chemicals.
For the year ended
31st December, 2017, the sales of the Group amounted to €64.5 billion,
increased by 12.0% as compared with €57.6 billion in FY 2016; income from
operation [EBIT] was €8.5 billion, increased by 34.9% as compared with €6.3
billion in FY 2016.
In 2017, the Group
generated 45% of its sales (excluding Oil & Gas) with customers in
Europe. In addition, 24% of sales were
generated in North America; 22% in Asia Pacific; and 9% in South America,
Africa, and the Middle East.
BASF supplies
products and services to around 130,000 customers from various sectors in
almost every country in the world.
BASF also works with
over 70,000 suppliers from different sectors worldwide.
For the year 31st
December, 2017, the Group had 115,490 employees worldwide.
The history of BHKL
in Hong Kong is over 40 years and five months.
On the whole, in view
of the parentage of BHKL, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.82 |
|
|
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.70 |
|
HKD |
1 |
INR 8.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
SYL |
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.