MIRA INFORM REPORT

 

 

Report Date :

07.08.2010

 

IDENTIFICATION DETAILS

 

Correct Name :

OMEGA ALPHARM (CYPRUS) LIMITED

 

 

Formerly Known as :

ALPHARM (CYPRUS) LIMITED

 

 

Registered Office :

Office 108, 12-14, Kennedy Avenue,1086 Nicosia

 

 

Country :

Cyprus

 

 

Financials (as on) :

2009

 

 

Date of Incorporation :

08.08.2003

 

 

Com. Reg. No.:

C140452 Nicosia

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Wholesalers of Drugs, Drug Proprietaries, and Druggists' Sundries

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

EUR 2,500,000.00

Status :

Satisfactory

Payment Behaviour :

No Complaints  

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 – April 1, 2010

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

Cyprus

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

    


 

Name & Address

 

NAME INQUIRED UNDER:

Omega Pharma Ltd.

 

Correct Registered Name:

OMEGA ALPHARM (CYPRUS) LIMITED

 

Address:

Office 108, 12-14, Kennedy Avenue
1086 Nicosia CYPRUS

 

Telephone:

+357-22875821
357-22-875821

 

Fax:

+357-22875820

 

Email:

corporate@omega-alpharm.com.cy

 

Web:

www.omega-pharma.gr (Parent's Web-site)

 

Business address:

Office 108, 12-14, Kennedy Avenue
1086 Nicosia CYPRUS

 

 

 

 

Summary of Ratings

 

Maximum Credit:

EUR 2,500,000.00

 

 

 

Payment

 

PAYMENT HABITS:

No Complaints

 

Comment:

A check against all available information sources of Mecos Infocredit revealed that no late payment incidents against Subject Company exist.

 

Good For Amount & Terms Of Inquiry:

Yes

 

 

Commercial Morality:

Moderate

 

Financial Strength:

Good

 

 

 

Legal Status

 

Legal Form:

Private Limited Liability Company

Private Limited Liability Company: It is incorporated by one or more individuals or companies (maximum: 50). It is managed by a board of directors consisted of minimum two individuals or juridical persons. Capital is required. The shareholders are liable for the companys debts to the extent of their respective interests in the capital. Its shares are not to be sold through public subscription. Private Limited Liability companies are obliged to file their accounts with the Registrar of Companies (Company Registry).

 

Registration number and city:

C140452 Nicosia

 

Registration date:

08.08.2003

 

Former registration name:

ALPHARM (CYPRUS) LIMITED, valid since: 08.08.2003, until: 07.10.2004

 

 

National ID: C140452

 

 

Former company names:

ALPHARM (CYPRUS) LIMITED

 

Company Status

 

Registration status: 08.08.2003 - registered company
Activity status: 08.08.2003 - Company is active

 

 

 

Principals

 

Shareholders

 

 

Full Name

Personal ID

Function

Nationality

Equity

Address

OMEGA PHARMA ELLAS A.E.
Registration: GREECE

 

Shareholder

 

100.00%
5,000 Ordinary

44, Asklipiou Street, Krioneri
14568
Attiki GREECE

 

Management

 

 

Full Name

Personal ID

Age

Function

Nationality

Qualification

Experience

Address

Photirco Secretarial Limited

 

 

Secretary

 

 

 

6 Kolokotroni street, 1st floor, office 6
1101 Nicosia CYPRUS

Mr. Photis Photiou

677490

 

Director

CYPRUS

Non Retrievable

Non Retrievable

1st Floor, Apt. 6, 6, Theodorou Kolokotroni Street
1101 Nicosia CYPRUS

 

 

Activities

 

Activities:

Importers & Wholesalers

 

Operations:


SIC
  main activity
  5122 Drugs, Drug Proprietaries, and Druggists' Sundries

  5999 Miscellaneous Retail Stores, NEC (typewriters and telephones)

The company in question was established in Cyprus in order to get involved with the import (100%) and wholesale (100%) trade of cosmetics.

Reportedly, the subject imports its products from its parent company OMEGA PHARMA ELLAS A.E. which is located in Greece.

Business Activities
Import & wholesale of cosmetics


Industry Classifications - NAICS
» Cosmetics, Beauty Supplies, and Perfume Stores
» All Other Health and Personal Care Stores
» Other Health and Personal Care Stores

Detailed Description of Industry Classifications
Cosmetics, Beauty Supplies, and Perfume Stores (NAICS # 44612)
This industry comprises establishments known as cosmetic or perfume stores or beauty supply shops primarily engaged in retailing cosmetics, perfumes, toiletries, and personal grooming products. Providing beauty parlor services--are classified in U.S. Industry 812112, Beauty Salons; and Retailing perfumes, cosmetics, and beauty supplies via electronic home shopping, mail-order, or direct sale--are classified in Subsector 454, Nonstore Retailers.


Other Health and Personal Care Stores (NAICS # 44619)
This industry comprises establishments primarily engaged in retailing health and personal care items (except drugs, medicines, optical goods, perfumes, cosmetics, and beauty supplies). Retailing health and personal care items via electronic home shopping, mail-order, or direct sale--are classified in Subsector 454, Nonstore Retailers; Retailing orthopedic shoes--are classified in Industry 448210, Shoe Stores; Retailing orthopedic and prosthetic appliances that are made on premises--are classified in Industry 33911, Medical Equipment and Supplies Manufacturing; Retailing prescription and nonprescription drugs and medicines--are classified in Industry 446110, Pharmacies and Drug Stores; Retailing eyeglasses and contact lenses--are classified in Industry 446130, Optical Goods Stores; Retailing perfumes, cosmetics, and beauty supplies--are classified in Industry 446120, Cosmetics, Beauty Supplies, and Perfume Stores; and Retailing naturally organic foods, such as fruits and vegetables, dairy products, and cereals and grains,--are classified in Subsector 445, Food and Beverage Stores.

 

Motor Vehicles

2010

Number of Vehicles

owned: 3

Total number of vehicles

3

 

Imports:

GREECE: 100%

 

Exports:

The subject does not engage in any export activities.

 

Agencies:

Name

Country

Product

Sant'Angelica

 

 

Bioderma

 

 

 

 

Workforce:

Number Of Employees:

5

 

 

Description Of Premises

 

Address:

Office 108, 12-14, Kennedy Avenue
1086 Nicosia CYPRUS

Type of premises:

Premises

Type of ownership:

rented

Area:

Business / Commercial Area

Address:

1st Floor, Apt. 6, 6 Theodorou Kolokotroni Street
1101 Nicosia CYPRUS

Type of premises:

Registered Address

Address:

Jacki Court, 4th Floor, Flat 402, 10, Vasilissis Friderikis Street
1066 Nicosia CYPRUS

Type of premises:

Previous Registered Address

 

Headquarters:

The company is operating from rented offices of the address given overleaf.

 

Branches:

The subject does not maintain any branches.

 

 

Related Companies

 

Parent Company
OMEGA PHARMA ELLAS A.E. , GREECE

*PLEASE NOTE ADDITIONAL INFORMATION ON RELATED COMPANIES:

"OMEGA PHARMA ELLAS A.E." - Parent Company registered in Greece. Omega Pharma is one of the few major players in its sector that deals exclusively in Over The Counter products (OTC).


Please note the following information about the subject's affiliated
companies:

ACO Hud AB 100 %
Box 622 - 194 26 Upplands Väsby (Sweden)

ACO Hud Nordic AB 100 %
Box 622 - 194 26 Upplands Väsby (Sweden)

ACO Hud Norge AS 100 %
Okern Bus 95 - NO-0509 Oslo (Norway)

ACO Pharma OY 100 %
Gardsbrinken 1A - FI02240 Esbo (Finland)

AdriaMedic SA ** 100 %
Zare Ouest - 4384 Ehlerange (Luxembourg)

Adriatic BST d.o.o. ** 100 %
Verovškova ulica 55 - 1000 Ljubljana (Slovenia)

Adriatic Distribution d.o.o. ** 100 %
Pančevački Put 36/B - 11210 Belgrade (Serbia)

Aktif Kozmetik Ticaret Ltd. STI 100 %
Şerif Ali Mah. Emin Sok 15, Y. Dudullu Ümraniye - 34000 Istanbul (Turkey)

Altermed Corporation d.o.o. 100 %
Put M. Makovina 3 - Zagreb (Croatia)

Altermed Corporation SA 100 %
Hnevotínská 56 - 779 00 Olomouc (Czech Republic)

Altermed Slovakia s.r.o. 100 %
Kysucka 3 - Zilina 01001 (Slovakia)

Auragen Pty Ltd 100 %
Units # 48, 49, 50 and 51, N°7, Narabang Way, Belrose NSW 2085 (Australia)

Aurios Pty Ltd 100 %
Units # 48, 49, 50 and 51, N°7, Narabang Way, Belrose NSW 2085 (Australia)

Auropharm Europe BV 100 %
Prins Bernhardplein 200 - 1097 JB Amsterdam (the Netherlands)

Aurora Pharmaceuticals Pty Ltd 100 %
Units # 48, 49, 50 and 51, N°7, Narabang Way, Belrose NSW 2085 (Australia)

Aurora Pharmaceuticals Ltd 100 %
183 Grenada Street - Arataki Tauranga 3116 (New-Zealand)

Belgian Cycling Company NV 100 %
Venecoweg 26 - 9810 Nazareth (Belgium)

Bional France SARL 100 %
Avenue de Lossburg 470 - 69480 Anse (France)

Bional International BV 100 %
Tolhusleane 11-15 - 8401 GA Gorredijk (the Netherlands)

Included in the consolidation scope:
* as of 01.07.09
** as of 01.10.09
*** as of 01.01.09
130
Bional Nederland BV 100 %
Tolhusleane 11-15 - 8401 GA Gorredijk (the Netherlands)
Biover NV 100 %
Monnikenwerve 109 - 8000 Brugge (Belgium)
Bittner Pharma LLC * 100 %
Novinskiy Boulevard 31 - 12342 Moscow (Russia)
Carecom International SA 100 %
Akara Building - 24 De Castro Street Wickhams Cay I - Road Town Tortola (British Virgin Islands)
Chefaro Ireland Ltd 100 %
Farnham Drive - Finglas Road - Dublin 11 (Ireland)
Chefaro Nederland BV 100 %
Keileweg 8 - 3029 BS Rotterdam (the Netherlands)
Chefaro Pharma Italia SRL 100 %
Viale Castello della Magliana 18 – 00148 Rome (Italy)
Chefaro Portuguesa Lda 100 %
Edificio Neopark - Av. Tomás Ribeiro 43 - PT-2795-574 Carnaxide (Portugal)
Chefaro UK Ltd 100 %
Hamilton House 4th floor - Mabledon Place, Bloomsburg WC1H 9 88 London (United Kingdom)
Cinetic Laboratories Argentina SA 100 %
Av. Triunvirato 2736 - City of Buenos Aires (Argentina)
Cosmea ACO AS 100 %
Slotsmarken 18 - DK-2980 Hörsholm (Denmark)
Cosmediet - Biotechnie SAS 100 %
Avenue de Lossburg 470 - 69480 Anse (France)
Damianus BV 100 %
Keileweg 8 - 3029 BS Rotterdam (the Netherlands)
Deutsche Chefaro GmbH 100 %
Im Wirrigen 25 - 45731 Waltrop (Germany)
EMA SARL 100 %
Rue André Gide 20, BP 80 - 92321 Châtillon (France)
Fischem Kozmetik Urunleri Ve Sanayi Ticaret Ltd 100 %
Şerif Ali Mah. Emin Sok 15, Y. Dudullu Ümraniye - 34000 Istanbul (Turkey)
Herbs Trading GmbH 100 %
Hauptplatz 9 - 9300 St. Veit an der Glan (Oostenrijk)
Hidra IC VE Dis Ticaret Ltd. STI 100 %
Şerif Ali Mah. Emin Sok 15, Y. Dudullu Ümraniye - 34000 Istanbul (Turkey)
Hipocrate 2000 SRL SC 100 %
6A Prahova Street, sector 1 - Bucharest (Romania)
Hipocrate Distribution Grup SRL SC 100 %
14A Targu Neamt, sector 6 - Bucharest (Romania)
Hud SA 100 %
Zare Ouest - 4384 Ehlerange (Luxembourg)
Interdelta SA 81.2 %
Route André Piller 21 - 1762 Givisiez (Switzerland)
131
Jaďco RDP NV *** 100 %
Nijverheidslaan 1545 - 3660 Opglabbeek (Belgium)
JLR Pharma SA 100 %
Au Village 107 - 1745 Lentigny (Switzerland)
JRO Pharma NV 100 %
Monnikenwerve 109 - 8000 Brugge (Belgium)
La Beauté International SARL 100 %
Rue André Gide 20, BP 80 - 92321 Châtillon (France)
Laboratoires Omega Pharma France SAS 100 %
Rue André Gide 20, BP 80 - 92321 Châtillon (France)
Medgenix Benelux NV 100 %
Vliegveld 21 - 8560 Wevelgem (Belgium)
Modi Omega Pharma (India) Private Limited 100 %
1400 Modi Tower - 98 Nehru Place - New Delhi - 110019 (India)
Omega Alpharm Cyprus Ltd 100 %
Kennedy Avenue - 1st floor - Office 108 12-14 - 1087 Lefkosia (Nicosia) (Cyprus)
Omega Pharma GmbH 100 %
Reisnerstrasse 55-57 - 1030 Vienna (Austria)
Omega Pharma SAS 100 %
Rue André Gide 20, BP 80 - 92321 Châtillon (France)
Omega Pharma Australia Pty Ltd 100 %
Units # 48, 49, 50 and 51, N°7, Narabang Way, Belrose NSW 2085 (Australia)
Omega Pharma Baltics SIA 100 %
Karla Ulmana gatva 119 - Marupe - Marupes district - LV-2167 (Latvia)
Omega Pharma Belgium NV 100 %
Venecoweg 26 - 9810 Nazareth (Belgium)
Omega Pharma Capital NV 100 %
Venecoweg 26 - 9810 Nazareth (Belgium)
Omega Pharma Espańa SA 100 %
Plaza Javier Cugat, 2 - Edificio D - Planta primera - 08174 Sant Cugat del Vallés (Spain)
Omega Pharma Hellas SA 100 %
19 km of Athens – Lamia Nat. Road – 14671 Nea Erythraia (Greece)
Omega Pharma Holding Nederland BV 100 %
Keileweg 8 - 3029 BS Rotterdam (the Netherlands)
Omega Pharma Hungary Kft. 90.00 %
Ady Endre utca 19.III/312 - 1024 Budapest (Hungary)
Omega Pharma International NV 100 %
Venecoweg 26 - 9810 Nazareth (Belgium)
Omega Pharma Luxembourg SARL 100 %
Zare Ouest - 4384 Ehlerange (Luxembourg)
Omega Pharma Poland Sp.z.o.o. 100 %
Dabrowskiego 2477 -249 – 93 232 Lodz (Poland)
Omega Pharma Singapore Pte Ltd 100 %
100 Jalan Sultan - # 09-06 Sultan Plaza - Singapore 199001 (Singapore)
132
Omega Teknika Ltd 100 %
Farnham Drive - Finglas Road - Dublin 11 (Ireland)
Paracelcia Pharma GmbH 100 %
Im Wirrigen 25 - 45731 Waltrop (Germany)
Pharmasales Pty Ltd 100 %
Units # 48, 49, 50 and 51, N°7, Narabang Way, Belrose NSW 2085 (Australia)
Prisfar Produtos Farmaceuticos SA 100 %
Rua Antero de Quental 629 - 4200-068 Porto (Portugal)
Promedent SARL 100 %
Zare Ouest - 4384 Ehlerange (Luxembourg)
Richard Bittner AG 100 %
Reisnerstrasse 55-57 - 103 Wenen (Austria)
Rubicon Healthcare Holdings Pty Ltd 100 %
Units # 48, 49, 50 and 51, N°7, Narabang Way, Belrose NSW 2085 (Australia)
Samenwerkende Apothekers Nederland BV 100 %
Tinbergenlaan 1 - 3401 MT IJsselstein (the Netherlands)
Via Natura NV 100 %
Ondernemersstraat 4 - 2500 Lier (Belgium)
Wartner Europe BV 100 %
Keileweg 8 - 3029 BS Rotterdam (the Netherlands)
The Arseus Group was consolidated according to the equity method until 30.09.2009
Arseus NV 24 %
Textielstraat 24 - 8790 Waregem (Belgium)

 

 

Bankers

 

PIRAEUS BANK (CYPRUS) LIMITED
26, Kennedy Avenue, 1046 Nicosia, Cyprus.


Account numbers are not disclosed.

 

 

Press

 

06.08.2010, No press / media available at present

 

 

Auditors / Accountants

 

Non Retrievable

 

 

Share Capital

 

Registered capital:

EUR 8,550.00 since 01.01.2008

Number of Ordinary:

5,000

Value per share of Ordinary:

EUR 1.71

 

Issued capital:

EUR 8,550.00 since 01.01.2008

Number of Ordinary:

5000

Value per share of Ordinary:

EUR 1.71

 

Paid-up capital:

EUR 8,550.00 since 01.01.2008

 

 

Charges

 

None in current years

 

 

Finance

 

Amounts shown in Euro (EUR) 

2009

2008

 



PROFIT & LOSS

 

Sales Turnover

822,825.00

817,490.00

 

Other Operating Expenses

-727,170.00

-718,916.00

 

Operational Profit

95,655.00

98,574.00

 

Finance Costs

-26,276.00

-41,182.00

 

Financial Income

965.00

1,315.00

 

Net Financial Items

-25,311.00

-39,867.00

 

Revenues from subsidies

18,134.00

3,569.00

 

Profit Before Taxation

88,478.00

62,276.00

 

Corporate Income Tax

-11,566.00

-7,900.00

 

Profit After Taxation

76,912.00

54,376.00

 

Extraordinary loss

-88.00

-117.00

 

Net Profit or Loss for the year

76,824.00

54,259.00

 

Earnings per share

3.30

2.30

 



BALANCE SHEET

 

FIXED ASSETS

8,351.00

821.00

 

Property, Plant & Equipment

43,244.00

50,074.00

 

Intangible Assets

905,319.00

878,967.00

 

Other Financial Fixed Assets

30,968.00

72,785.00

 

Total Fixed Assets

987,882.00

1,002,647.00

 

CURRENT ASSETS

51,324.00

55,640.00

 

Inventory / Stock

109,794.00

122,931.00

 

Trade Debtors (receivables from customer)

164,223.00

202,242.00

 

Cash in Hand & at Bank

25,229.00

33,793.00

 

Total Current Assets

350,570.00

414,606.00

 

Total Assets

1,338,452.00

1,417,253.00

 

Revaluation Reserves

-1,284.00

4,641.00

 

Other Reserves

-30,803.00

-33,994.00

 

Retained Profit / Earnings) for the year

325,219.00

262,815.00

 

Minority's Interest

545.00

217.00

 

Total Equity

660,518.00

600,520.00

 

Non-Current Liabilities

34,719.00

21,586.00

 

Long - Term Loans

258,332.00

344,781.00

 

Taxation Payable

71,947.00

69,045.00

 

Provisions

4,475.00

3,887.00

 

CURRENT LIABILITIES

38,569.00

42,393.00

 

Trade Creditors

215,731.00

200,930.00

 

Short - Term Borrowings, Loans

19,085.00

101,850.00

 

Taxation Due

35,076.00

27,207.00

 

Total Current Liabilities

308,461.00

377,434.00

 

Total Equity & Liabilities

1,338,452.00

1,417,253.00

 

SHARE CAPITAL

366,841.00

366,841.00


Financial statements are consolidated, in thousands and were obtained from the Groups' Web-site: www.omega-pharma.be

Subject's Sales Turnover for the year 2009: 878,000 EURO


Please note that our rating system has the amount of 2.500.000 EUR as a maximum credit amount ceiling.
The company’s maximum recommended credit amount (without restrictions) is 20,000,000.
As our company’s policy, we can only recommend any company for a maximum credit amount of 2.500.000 EUR per transaction/per month.

 

 

Ratios

 

2009

2008

Current ratio - 2 is an acceptable result, but even 1,8 is considered excellent in bank practice
Current Assets / Current Liabilities

1.14

1.10

Quick ratio (QR ) - 1 is an excellent result, but anything above 0,8 is considered good
(Current Assets - Inventory) / Current Liabilities

1.14

1.10

Day's supply in inventory
Sales Turnover / Inventory

7.49

6.65

Collection Period Ratio (in days)
Accounts Receivable x 365 / Sales Turnover

72.85

90.30

Cash Liquidity Ratio
Liquid Assests / Current Liabilities x 100

8.18

8.95

Receivables Ratio (%)
Accounts Receivable / Current Liabilities x 100

53.24

53.58

Current Assets Ratio (%)
(Current Assets - Accounts Receivable) / Current Liabilities x 100

113.65

109.85

Shareholder Equity Increase Ratio (%)
Total Equity / Share Capital x 100

180.06

163.70

 

 

GENERAL COMMENTS

 

We contacted the company in question and talked with Ms Miria Achilleos, company official, who confirmed the details of this report. A written request for further financial information was also sent; however there was no response up to now. Should any additional information becomes available we shall forward them to you as soon as possible.

A check against our records revealed that no negative payment incidents against Subject Company, such as unpaid invoices, dishonoured cheques and utility bills, bankruptcies exist etc.

SECTOR ANALYSIS
Wholesale, Industrial, Retail & Services Sectors

The industrial sector, the wholesale and retail trade sector and the services sector are all open to non-resident investors. For the industrial and the wholesale and retail trade sectors, the Central Bank handles applications where foreign participation is below 50%. Where foreign participation exceeds 50%, or the investment is more than CyP750.000, applications are handled jointly by the Central Bank and the Ministry of Commerce, Industry and Tourism.
For services, up to 100% foreign participation is allowed and the Central Bank handles the applications.
Tremetoushiotis Developers Ltd
(Ref: http://www.top-properties.com/legal-information.html)

 

 

Contact information

 

Telephone number:

357 22 875821

Company Official (Ms Miria Achilleos)

 

 

CYPRUS-FACTS AND FIGURES
Population: 1,084,748
Area: 9,251 SQ KM (about 33.4 percent of land is under Turkish control, and a further 1.8 percent forms part of the buffer zone along the cease-fire line.)
Capital: Nicosia
Currency: Euro
Currency Code: EUR

GDP (Purchasing Power Parity): $22.85 Billion

GDP - Composition by Sector:

GDP (Official Exchange Rate):$23.22 Billion

Agriculture: 2.1%

GDP - Real Growth Rate: -0.8%

Industry: 19.%

GDP - Per Capita (PPP): $21,200

Services: 78.9%

 

 


Industries:
Tourism, Food And Beverage Processing, Cement And Gypsum Production, Ship Repair And Refurbishment, Textiles, Light Chemicals, Metal Products, Wood, Paper, Stone, And Clay Products.

The area of the republic of Cyprus under government control has a market economy dominated by the service sector, which accounts for 78% of GDP.
Tourism, financial services and real estate are the most important sectors.
Changing growth rates over the past decade reflect the economy's reliance on tourism.
Due to the global crisis, Cyprus economy entered into recession in the middle of 2009. The budget deficit reached the level of 3.5% of GDP, violating EU's budget deficit criteria of no more than 3% of GDP.

Therefore, in order to prevent country's weakening finances, the government intents to implement measures to cut the cost of the state payroll, tax evasion, and amend social benefits.

Last Updated: March 2010

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.46.02

UK Pound

1

Rs.73.21

Euro

1

Rs.60.70

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.