MIRA
INFORM REPORT
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Report Date : |
23rd February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
AMBERTEX LIMITED |
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Formerly Known as: |
MASSIMO MARCELLO LIMITED |
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Registered Office : |
345 Bearwood Road, Smethwick, Warley, West Midlands, B66 4DB . |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
26.02.1993 |
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Com. Reg. No.: |
02794437 |
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Legal Form : |
Private Limited with share capital |
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Line of Business : |
Wholesale of clothing and footwear. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
GBP 4,200 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Identification Details
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Company Name |
AMBERTEX LIMITED |
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Trading Address |
Wedge Street, Walsall, West Midlands, WS1 2HQ |
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Telephone |
01922 620908 |
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Risk Score |
55 out of 100 |
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Average Risk - This company has an average risk status and should be
treated with a degree of caution |
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Credit Limit |
GBP 4,200 |
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Selling to this company? The Credit Limit is the recommended maximum
outstanding debtor exposure at any one time. |
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Contract Limit |
GBP 41,600 |
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Buying from this company? The Contract Limit is the recommended
aggregate annual value for supply contracts. |
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Official Company Data
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Legal Form |
Private Limited with share capital |
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Registration Number |
02794437 |
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Date of Incorporation |
26/02/1993 |
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Registered Office |
345 BEARWOOD ROAD, SMETHWICK, WARLEY, WEST MIDLANDS, B66 4DB . |
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History |
26/03/2001 : Change of name from MASSIMO MARCELLO LIMITED |
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Date of Last Annual Return to Registry |
26/02/2006 |
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Activities |
WHOLESALE OF CLOTHING AND FOOTWEAR. - - |
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Accounts |
The last filed accounts cover the period to 31/12/2005 and were
presented to Companies House on 11/10/2006 |
Recently Filed Documents
Details of the most recent documents
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Date Received |
Description |
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16/12/2002 |
Notification Of A Change Among The Directors Of A Company |
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20/03/1993 |
Notification Of A Change Among The Directors Of A Company |
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05/03/1993 |
Notification Of A Change Among The Directors Of A Company |
It should be noted that there is no legal requirement
to file satisfaction details of mortgages/charges at Companies House.
Known Directors
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DIRECTOR |
PURNIMA AMBASANA (One or more of this director's other companies has additional risk related information which could include CCJ's, Legal Information or dissolution.) |
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Occupation |
COMPANY DIRECTOR |
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Address |
11, PARK HALL ROAD , WALSALL , WS5 3HF |
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Country of
Origin |
BRITISH |
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Date of Birth |
08/07/1955 |
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Appointment Date |
02/03/1993 |
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Other
Appointments |
AMBERTEX CLOTHING LIMITED, CAULDERWOOD LIMITED |
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DIRECTOR |
LALIT AMBASANA (One or
more of this director's other companies has additional risk related
information which could include CCJ's, Legal Information or dissolution.) |
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Occupation |
DIRECTOR |
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Address |
11, PARK HALL ROAD , WALSALL , WS5 3HF |
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Country of
Origin |
BRITISH |
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Date of Birth |
23/04/1955 |
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Appointment Date |
09/12/2002 |
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Other
Appointments |
AMBERTEX CLOTHING LIMITED, CAULDERWOOD LIMITED |
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SECRETARY |
LALIT AMBASANA |
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Address |
11 , PARK HALL ROAD , WALSALL , WS5 3HF |
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Country of
Origin |
BRITISH |
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Date of Birth |
23/04/1955 |
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Appointment Date |
09/12/2002 |
Recently Resigned Directors (last
3)
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None |
Share Summary
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Share Currency: |
GBP |
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Issued at date of report: |
2,000 ORD |
Shares of 100 pence each |
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Prinicipal Shareholders: |
Type Of Share |
No. of Shares |
Value |
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LALIT AMBASANA |
ORD |
700 |
700.00 |
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PURNIMA AMBASANA |
ORD |
700 |
700.00 |
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KUNAL AMBASANA |
ORD |
300 |
300.00 |
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SHANEIL AMBASANA |
ORD |
300 |
300.00 |
Mortgages and Charges
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Total Registered |
2 |
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Total Outstanding |
2 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
06/03/2006 |
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Date Registered |
11/03/2006 |
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Type |
395 |
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Date Created |
06/03/2006 |
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Lender |
LLOYDS TSB BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
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Details |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL
BUILDINGS FIXTURES FIXED PLANT AND MACHINERY |
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Satisfied? |
No |
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Date Registered |
10/09/2003 |
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Type |
395 |
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Date Created |
28/08/2003 |
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Lender |
LLOYDS TSB BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
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Details |
ALL SUCH RIGHTS TO THE REPAYMENT OF THE DEPOSIT MEANING THE DEBT(S) ON
THE ACCOUNT(S) DESCRIBED IN THE SCHEDULE BEING THE ACCOUNT WITH THE BANK
DENOMINATED IN STERLING DESIGNATED LLOYDS TSB BANK PLC RE AMBERTEX LTD AND
NUMBERED 30-97-97 00858194 AND ANY ACCOUNT(S) FOR THE TIME BEING REPLACING
THE SAME AND ALL INTEREST OWING IN RESPECT THEREOF AND ALL DEPOSITS WITH THE
BANKS TREASURY DIVISION IN THE NAME OF THE BANK RE THE COMPANY |
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Satisfied? |
No |
Public Record Information
Summary of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the
company.
Operations
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Activities |
WHOLESALE OF CLOTHING AND FOOTWEAR. - - |
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Sic Code |
Description |
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5142 |
Wholesale of clothing and footwear |
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Auditors |
N J PATEL AND CO |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion (i.e.
unqualified with no referrals) on the accounts for the period ended
31/12/2005. |
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Bankers |
- |
Financial Data
Profit and Loss
The following figures are shown in units of GBP '000
|
Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
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Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
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Consolidated? |
No |
No |
No |
No |
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Depreciation |
7 |
- |
- |
- |
Balance Sheet
The following figures are shown in units of GBP '000
|
Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
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Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
38 |
52 |
59 |
38 |
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Tangible Assets |
28 |
34 |
35 |
2 |
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Fixed Assets |
28 |
34 |
35 |
2 |
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Intangible Assets |
10 |
18 |
25 |
37 |
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TOTAL CURRENT ASSETS |
315 |
510 |
584 |
927 |
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Total Debtors |
261 |
345 |
429 |
561 |
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Stocks/WIP |
19 |
86 |
151 |
151 |
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Cash |
15 |
78 |
4 |
215 |
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Other Current Assets |
20 |
0 |
0 |
0 |
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TOTAL ASSETS |
353 |
561 |
643 |
965 |
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TOTAL CURRENT LIABILITIES |
249 |
375 |
443 |
815 |
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Other Current Liabilities |
249 |
375 |
443 |
815 |
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WORKING CAPITAL |
66 |
135 |
140 |
111 |
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TOTAL LONG TERM LIABS |
0 |
4 |
9 |
18 |
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Other Liabilities |
0 |
0 |
0 |
18 |
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Total Hire Purchase / Leasing |
0 |
2 |
8 |
- |
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Total Provisions |
0 |
2 |
1 |
0 |
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NET ASSETS/(LIABILITIES) |
104 |
182 |
190 |
132 |
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SHARE CAPITAL + RESERVES |
104 |
182 |
190 |
132 |
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Issued Share Capital |
2 |
2 |
2 |
2 |
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Profit and Loss account |
102 |
180 |
188 |
130 |
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SHAREHOLDERS FUNDS |
104 |
182 |
190 |
132 |
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CAPITAL EMPLOYED |
104 |
186 |
200 |
150 |
Key Credit Ratios
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Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
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Current Ratio |
1.26 |
1.36 |
1.32 |
1.14 |
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Long Term Debt/T.N.W (%) |
0.00 |
1.41 |
5.08 |
18.83 |
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Quick Ratio |
1.19 |
1.13 |
0.98 |
0.95 |
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T.N.W/Total Assets |
26.48 |
29.26 |
25.78 |
9.83 |
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Borrowing Ratio |
- |
1.41 |
5.08 |
- |
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Equity Gearing |
29.38 |
32.45 |
29.61 |
13.64 |
Financial Comparison
The following figures are shown in units of GBP '000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2005 |
31/12/2004 |
31/12/2003 |
31/12/2002 |
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Currency |
GBP '000 |
GBP '000 |
GBP '000 |
GBP '000 |
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Other Deferred Liabs |
0 |
0 |
0 |
18 |
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Tangible Net Worth(T.N.W) |
94 |
164 |
166 |
95 |
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Equity |
104 |
182 |
190 |
132 |
Key Industry Sector Trends
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Company |
Industry
Averages |
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31/12/2005 |
Lower |
Median |
Upper |
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Current Ratio |
1.26 |
0.9 |
1.2 |
2.2 |
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This comparison is based on the results of 0004619 companies in the
same industrial sector: |
Financial Summary
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Working Capital |
The company's working capital decreased in the period by 51% |
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Tangible Net Worth |
Net worth reduced by 70,744 during the period and now stands at
GBP 93,536 |
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Fixed Assets |
The subjects fixed assets reduced during the period by GBP 13,911
to GBP 37,891 and are now 11% of total assets compared with 9% in the
previous period |
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Long Term Liabilities |
The company's long term liabilities reduced during the period by 96%
and are now 0% of net worth compared with 2% in the previous period |
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Long Term Liabilities |
Long term liabilities are now 0% of total assets compared with 1% in
the previous period |
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Long Term Liabilities |
Long term liabilities are 0% of capital employed a decrease of 2% over
the previous period |
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/normal. |
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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions