MIRA
INFORM REPORT
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Report Date : |
28.08.2007 |
IDENTIFICATION DETAILS
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Name : |
MI TRADE |
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Registered Office : |
6414-A Jln Raja |
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Country : |
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Line of Business : |
Engaged as the middle agent for precious stones |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Ceased |
EXECUTIVE SUMMARY
REGISTRATION NO : N/A
BUSINESS NAME : MI TRADE
FORMER NAME : N/A
ADDRESS : 6414-A JLN RAJA DEVA HILIR
15150
TEL NO : 09-7437282
FAX NO : 09-7433242
PERSON TO CONTACT : N/A
INDUSTRY CODE : 0
PRINCIPAL ACTIVITY : MIDDLE AGENT FOR PRECIOUS STONES (DORMANT)
STAFF STRENGTH : 0
BANKER (S) : N/A
LITIGATION : N/A
PAYMENT : N/A
MANAGEMENT CAPABILITY : N/A
COMMERCIAL RISK : N/A
CURRENCY EXPOSURE : N/A
GENERAL REPUTATION : N/A
INDUSTRY OUTLOOK : N/A
CREDIT RATING : D (please refer to appendix)
CURRENT INVESTIGATION
We have contacted the former owner of MI TRADE, Mr. Mohd
Ismail. According to him, the SC had ceased its business operation for more
than 20 years ago. Mr Mohd informed us that he was unable to continue the
business as he faced critical financial condition during the time. Mr Mohd has
no intention of commencing the SC. The SC had been engaged as the Middle Agent
for precious stones from countries like
COMMENTS
Our investigation
revealed that the SC had ceased its business for more than 2 decades. The
reason for being unable to continue the business was because of financial
difficulties. He is also has no intention to restart the business in future. As
the SC is a dormant company, it is inappropriate for us to further comment on
the SC. As a result, we are against granting credit to the SC.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)