MIRA
INFORM REPORT
|
Report Date : |
23.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
THE WINGS GROUP |
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Registered Office : |
Ekonomi Building, 7th Floor Jalan Embong Malang No. 61-65 Surabaya, 60261 East Java |
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Country : |
Indonesia |
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Year of Establishment : |
1940’s |
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Legal Form : |
-- |
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Line of Business : |
Soap, Detergent and Other Consumer Products Industry |
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No. of Employees : |
47,000 persons |
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 |
|
Status : |
Satisfactory |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
BASIC information
The WINGS Group
1.
Name of the Business Group
- The WINGS Group
2.
Year of Establishment
- 1940’s
3.
Business Headquarter
- Jakarta
4.
Business Operation Area
a.
Through-out
Indonesia
b.
Asian
Countries
c.
Japan
d.
Europe
e.
The
USA
5.
Business Activities
a.
Soap,
Detergent and Other Consumer Products Industry
b.
Chemical
Industry
c.
Food
Processing
d.
Banking
e.
Property
f.
Other
Business
6.
Ultimate Investment Holding
- P.T. WAHANA WING SURYA
7.
Number of the Group Members
- 34 Companies
8.
Major Members of the Group
a. P.T. ADYABUANA PERSADA (Ceramic
Floor Tile Manufacturing)
b. P.T. AKTIF INDONESIA INDAH
(Industrial Chemical Processing)
c. P.T. CIPTA SEGAR HARUM (Cosmetic
Manufacturing)
d. P.T. DIAN LESTARI PERDANA (Office
Block Rental Management)
e. P.T. ECOGREEN OLEOCHEMICALS
(Fatty Alcohol Industry)
f.
P.T. EKATAMA MAKMUR (Real Estate and Housing Development)
g. P.T. EKONOMI
RAHARDJA Bank (Banking)
h. P.T.
FINDECO JAYA (Alkyl Benzene Sulfonate Processing)
i. P.T. KARUNIA ALAM SEGAR (Instant Noodles
Processing)
j.
P.T. LION WINGS (Cosmetic, Detergent, Toothpaste and Sanitary Napkin
Manufacturing)
k. P.T. MULTI INDOMANDIRI (Glass
Tableware Manufacturing)
l.
P.T. MULTIPACK UNGGUL (Corrugated Carton Box, Printing and Soft
Packaging
Manufacturing)
m. P.T. PETROCENTRAL (Industrial
Chemical Processing)
n. P.T. PRAKARSA ALAM SEGAR (Instant
Noodles Processing)
o. P.T. PONDOK PALEM INDAH (Housing
Development and Investment Holding)
p. Etc.
9.
Total Employees
- 47,000 persons
10. Business Trend in
the last 5 years
- Growing
11. Major Owners
a. The late Mr.
Freddy Ignatius Katuari & Family -
50%
b. Mr. Harjo
Sutanto and Family -
25%
c. Mr. Alex Ivan
Tanojo and Family -
25%
12. Top Figures and
Executives
a.
Mr.
Eddy William Katuari
b.
Mr.
Kenny Harjo
c.
Mr.
Erwin Sutanto
d.
Mr.
Handojo Sutanto
e.
Mr.
Hardy Johan
f.
Mr.
Jacobus Hartato
g.
Mr.
Widyanto
h.
Mr.
Hanny Sutanto
i.
Mr.
Finney Henry Katuari
13. Listed Companies or Parent Company Within the WINGS
Group
- None
14. Major Bankers
a.
P.T. Bank EKONOMI RAHARDJA
b.
P.T.
Bank CENTRAL ASIA Tbk.
c.
P.T.
Bank MANDIRI Tbk.
d.
P.T.
ANZ-PANIN Bank
e.
P.T.
Bank DANAMON INDONESIA Tbk.
f.
P.T.
Bank PAN INDONESIA Tbk.
g.
P.T.
Bank PERMATA Tbk.
h.
P.T.
Bank INTERANATIONAL INDONESIA Tbk.
15. Contact Addresses
A.
P.T. WINGS SURYA
Head Office
Ekonomi Building, 7th Floor
Jalan Embong Malang No. 61-65
Surabaya, 60261
East Java
Phones -
(62-31) 532 0220 (Hunting)
Fax -
(62-31) 532 5924-5
B.
P.T. ECOGREEN OLEOCHEMICALS
Head Office
Grha GAWU 3rd Floor
Jalan Setiabudi Selatan
Kav. 10
Jakarta Selatan,
12920
Phones - (62-21) 5790 4500 (Hunting)
Fax -
(62-21) 5790 4490
E-mail - ecogreen@indosat.net.id
Factory I
Jalan Raya Pelabuhan
Kav. 1
Kabil, Batam
Kepulauan Riau
Province
Phone - (62-778) 711001-06
Fax - (62-778) 711007
Factory II
Jalan Raya Pelabuhan
IV
Gabion, Bagan Deli
Belawan, Medan
North Sumatra
Phone - (62-61) 694 1020 (Hunting)
Fax -
(62-61) 694 1645
OVERALL PERFORMANCE
The WINGS Group
was established in the early of 1940 in Surabaya (East Java) by the late Mr.
Johannes Ferdinand Katuari AKA Oen Jong Khing (87) and his partner Mr. Harjo
Sutanto AKA Tan Siek Miauw (81). Both are Indonesian businessmen of Chinese
extraction. Later, into the company entered Mr. Alex Ivan Tanojo and his younger brother Mr. Hendrik Tanojo as new
shareholders. The core of the WINGS Group's business is Firma WINGS
which was set-up in March 1950 by the above two mentioned businessmen and
dealing with soap and detergent manufacturing. In January 1991, Firma WINGS was
renamed to P.T. WINGS SURYA. In 1970, the late Mr. Johannes Ferdinand Katuari,
Mr. Harjo Sutanto, Mr. Alex Ivan Tanojo dan Mr. Hendrik Tanojo established
several other companies dealing with the manufacturing of soap, detergent and
trading business. In order to further expand its business in soap and detergent
manufacturing, the above two businessmen along with several other local and
foreign participants has from the end of 1970 established a joint venture
company in chemical industry. In the early of 1990 set up a number of other
companies in property business.
Mr. Johannes
Ferdinan Katuari died in the end of 2003 and currently the ownership of the
WINGS Group went over into his sons. Some 50% of the business stakes of the
WINGS Group is now controlled by the sons of the late Mr. Johannes Ferdinan
Katuari respectively Mr. Teddy Jeffrey Katuari (63), Mr. Ir. Eddy William
Katuari (59), Mr. Finney Henry Katuary (57) and the late Mr. Drs. Freddy
Ignatius Katuari (55) while another 25% is owned by Mr. Hardjo Susanto and his
sons and the rest 25% owned by Alex Ivan Tanojo and his family. The WINGS
Group’s business stakes in several joint venture companies being established
under cooperation with another business group is minority but having important
role because it has an integrated business within its soaps and detergent
manufacturing.
The WINGS Group
has been in operation since end 1940 dealing with soap industry. Then, in early
1970’s the group developed its business in detergent. Soap and detergent
industry are the main business of the WINGS Group including powder and cream
detergent, dishwashing liquid and synthetic bar detergent. Detail on WINGS
Group company members activities are pictured as follow:
P.T. WINGS SURYA (P.T. WS)
P.T. WS has been continuing the business of Firma
WINGS in detergent industry operating since 1950 with its plant located at Jalan Desa Manunggal VI, Wonocolo, Surabaya,
East Java, on a land of some 1,9 hectares and in 1990 it expanded to new
location at Jalan Raya Driyorejo Km. 22.9, Gresik, East Java, on a land of some
8.3 hectares. In August 1992 P.T. WS got a Domestic Capital Investment (PMDN)
license to expand its two plants, and for that purpose P.T. WS expanded land
area of its Gresik plant into 38 hectares.
In October 1997, again it obtained an expansion permit to increase
production capacity of detergent, bathing-soap, water glass, liquid soap and detergent,
floor-cleaner, bleach and porcelain cleaner.
Some 85% of P.T. WS' products are marketed locally while the rest 15% is
exported to Singapore, Malaysia, the Philippines, Vietnam, the Middle East and
Africa.
Besides producing detergents and soaps, P.T. WS is
also producing glycerin, alkyl benzene sulfonic (ABS), sodium lauryl sulfates,
ether sulfates and other cleaning chemical meterials. P.T. WS is at present one
of large sized producers of detergents and cleaning chemicals controlling 28%
of the market shares in the country. The company products use brands of WINGS
and SO KLIN for washing soaps and GIVE for bathing soaps.
P.T. SAYAP MAS
UTAMA (P.T. SMU)
P.T. SMU operates in the detergent, washing and bathing
soap industry, plastic household goods industry and other activities, at first
as a non-facility (non-PMA/PMDN) company. The company operates a plant located
at Jalan Raya Jakarta-Bekasi, Tipar Cakung Km. 22, East Jakarta, standing on
some 14.1 hectare land. The plant, has a floor space of about 5 hectares, went
into operation in 1977 and has since been running well and growing to date. In
1991 the company was granted Domestic Capital Investment (PMDN) facilities by
the Capital Investment Coordinating Board (BKPM). The investment put into the
plant reached Rp. 222.2 billion, of which Rp. 192.0 billion coming from company
capital and the balance from loans. About 15% of the company's production is
exported to various Asian countries, and the rest being marketed in the country
under the GIV brand for bathing soap, WINGS EKONOMI for detergent cream, EXTRA
AKTIVE for detergent bars, SO KLIN for detergent powder, and other brands for
other types of products.
In 1993, P.T. SMU was licensed by the BKPM to expand
and increase production capacity of 32
thousand tons cream detergent, 12 thousand tons powder detergent, 6 thousand
tons bars detergent, 10 thousand tons shower soaps and 28 thousand tons
surfactants, respectively per year. This expansion plant is located on the same
site with existing plant at Jalan Raya Jakarta-Bekasi, Tipar Cakung
Km. 22, East Jakarta, has been operating since the end 1995.
P.T. LION WINS (P.T. LW)
P.T. LW obtained a Foreign Capital Investment (PMA)
facility issued by the Capital Investment Coordinating Board (BKPM) to deal
with cosmetics, detergent, toothpaste and household appliances cleaning
products. The company took over the activities and plant of P.T. CIPTA SEGAR
HARUM having been in operation since 1987. Its plant is located at Jalan Rawa
Girang No.4, Pulogadung Industrial Estate, East Jakarta on a land of 1.6
hectares. The plant of the company has frequently been expanded since it was
taken over in 1998. P.T. LW at present operates a new plant located at Jalan
Inspeksi Cakung Drain Timur No. 1, Cakung, East Jakarta on a land of 2.5
hectares.
Since August 2005, whole activities of its plant at
Jalan Rawa Girang No. 4, Pulogadung Industrial Estate, East Jakarta have been
relocated to its new plant at Jalan Inspeksi Cakung Drain Timur No. 1, Cakung,
East Jakarta.
P.T. LW produces various types of hair care, oral
care, skin care, children toiletries, dish washing liquid, liquid body soap,
and anti-mosquitoes lotion. The technology and license used by the company to
produce its products come from LION CORPORATION of Japan. The products of the
company are known with various brands. For hair care, the company uses Emeron,
Zinc and Kodomo brands, for oral care using Ciptadent, Smile Up, Fresh, Systema
brands, for dish washing liquid using Mama Lemon, Mama Lime, Mama Ultra brands,
for liquid body soap using Botanical brand and for anti-Mosquitoes lotion using
Lavenda brand. Some 80% of the products are marketed locally being handled by
its sister company P.T. SAYAP MAS UTAMA, and the other 20% is exported to
Singapore, Malaysia and other African countries.
To support its main business, the WINGS Group has
industry dealing with packing material starting from making of corrugated
carton, plastic bags and printing managed by P.T. MULTIPACK UNGGUL in Gresik,
East Java. To run the local distribution, the WINGS Group has distribution
companies namely P.T. BIMA NUSA RAJAWALI in Surabaya for the distribution of
Eastern Indonesian territory and P.T. BIMA MAS SEJATI JAYA in Medan for the distribution
of Sumatra territory.
In mid 1970s,
the group developed its business in the chemicals material processing industry
such as alkyl sulfate, aluminum sulfate, poly aluminium chloride and sodium
lauryl ether sulfate to support the main business of the group in soap and
detergent industry. The WINGS Group’s members managing this business are P.T.
FINDEKO JAYA, P.T. AKTIF INDONESIA INDAH, P.T. UNGGUL INDAH CAHAYA Tbk, P.T.
PETROCENTRAL and the distribution company P.T. ASPIRASI LUHUR. The development
of the company business in chemical industry is in corporation with local
company group such as the SALIM Group, the SINAR MAS Group, the LAUTAN LUAS
Group, etc and foreign partners like TOMEN CORPORATION of Japan. In chemical
industry, the WINGS Group’s main chemical basic material is getting
strengthened by the taking over shares of P.T. BATAMAS MEGAH later renamed to
P.T. ECOGREEN OLEOCHEMICALS dealing with oleo chemicals by managing a plant in
Batam, North Sumatra and Kepulauan Riau Province. The company is initially one
of the SALIM Group members guaranteed to the Indonesian Banking Restructuring
Agency (IBRA) concerning restructured debts. Shares of the WINGS Group in P.T.
ECOGREEN OLEOCHEMICALS through it’s subsidiary CARHART INVESTMENT Pte. Ltd., of
Singapore and WORLDWIDE LINK Ltd of British Virgin Islands. This company is one
of four big producers of fatty alcohol under HENKEL, PROCTER & GAMBLE and
HAO Group.
In mid 1990, the
WINGS Group developed its business in property in the form of housing areas in
Surabaya and Gresik, East Java and office buildings being central office of the
WINGS Group in Surabaya, East Java. Since 1990, the WINGS Group developed its
business in other business sector namely in ceramic floor industry managed by
P.T. ADYABUANA PERSADA in Gresik, East Java and P.T. SARANAGRIYA LESTARI
KERAMIC in Cibitung, Bekasi, West Java, gypsum plaster and compound managed by
P.T. SIAM INDO GYPSUM INDUSTRI in Cibitung, Bekasi, glass table wares managed
by P.T. MULTI INDOMANDIRI in Karawang, West Java and integrated shrimp culture
managed by P.T. VARIA INDOWIN PERKASA in Banyuwangi, East Java. Besides, the
WINGS Group has a medium sized bank named P.T. BANK EKONOMI RAHARDJA.
Since 1999, the
WINGS Group has developed its business in food and beverage industry managed by
P.T. KARUNIA ALAM SEGAR (P.T. KAS). P.T. KAS is a Domestic Capital Investment
Company (PMDN) dealing with fruit juice health drink processing industry by
managing a plant located at Jalan Melaten 28, Keprabon, Karang Pilang, Surabaya,
East Java, on a land of some 5,000 sq. meters operating since 1999 producing
soft drink powder of 3,000 tons per year. The plant absorbed an estimated total
investment at Rp 5.0 billion coming from company's capital of Rp 1.5 billion
and the remainder from loan. In 2000 P.T. KAS got an expansion permit to
increase production capacity in wheat foods, snack, coffee processing and
drinks industry. The expansion plant is located at Jalan Raya Sukomulyo Km. 24,
Manyar, Gresik, East Java, on a land of some 100,000 sq. meters, operating
since 2001 producing instant noodles of 15,000 tons per year.
On the location
of the expansion plant, the company plans to produce peanut fried crips,
snacks, extract coffee, milk drinks and health drinks. The product of soft
drinks powder (concentrate powder drink) is entirely marketed locally through
distributors, supermarkets, grocers, retailing stores using trademark JAS JUS.
While some 85% of instant noodle products is marketed locally under trademark
Mie SEDAP (containing 40 per box) and Mie EKOMIE (containing 20 per plastic)
and the rest 15% is exported. The operation of P.T. KAS has been growing in the
last five years.
We observe that the main business of the WINGS
Group is in soap and detergent industry. In general, the demand for detergents,
soaps, cleaning chemicals and other consumer goods has kept on rising despite dropped in October
2008 due to the global economic crisis battering Indonesia. But later the demand
growth started to awake again in line with the amelioration of the domestic
economic and political condition. The WINGS Group's business position is fairly
good because its major core business in the field of soap and detergent
manufacturing has been able to remain stable. Such condition has made possible
because its products has been widely popular among Indonesian lower to medium
societies. The Indonesian economy has weathered the storm and is currently
accelerating. As for the global economy, it is also in a recovery phase and
this recovery is expected to continue in 2010. Overall, the prospects for the
Indonesian economy in 2010 are brighter than in 2009. The global economic
recession has exerted significant downward pressures on the Indonesia economy.
In the first quarter of 2009 the economy grew by 4.4 percent, or significantly
lower than in the fourth quarter of 2008 when the economy grew by 5.2 percent
and lower than in the third quarter of 2008 when the economy grew by 6.4
percent.
Eventually, the
impact of the fiscal and monetary stimuli on the economy could be seen. This
was reflected in the brisker pace of growth in Indonesia despite the global
economic recession. In the second quarter of 2009 the Indonesian economy grew
by 4.0 percent, and in the third quarter of the year it grew by 4.2 percent.
The economic is expected to accelerate further in the fourth quarter of 2009.
And for the whole of 2009 the Indonesian economy is expected tot grow by 4.7
percent and 6.0 percent in 2010.
Several factors
support brisker economic growth in 2010. First, the global economic conditions
are expected to be better in 2010 than in 2009. This is evident in the global
economic recover that is expected to continue well into 2010. The US economy,
for example, is expected to grow by 2.5 percent in 2010 compared to a
contraction of 2.4 percent in 2009.
Meanwhile, the Japanese economy is predicted to grow by around 1.2
percent in 2010 in contrast to an expected contraction of around 5.7 percent in
2009. As for Europe, it is expected to grow by 1.1 percent in 2010 compared to
an expected contraction of around 3.8 percent in 2009. It is estimated that
demand for analysis and testing services will keep on increasing in five years
to come. The competition is very tight on account of many similar companies
operating in the country. Against this backdrop, Indonesian exports are
expected to grow by 12.9 percent 2010.
Indonesia’s economic growth in 2008, 2009 and forecast for 2010
|
No. |
Sector |
2008 |
2009 |
2010 |
|
1. |
Agriculture |
4.8 |
3.6 |
3.3 |
|
2. |
Mining and Quarrying |
0.5 |
3.7 |
3.7 |
|
3. |
Manufacturing |
3.7 |
2.2 |
2.2 |
|
4. |
Electricity, Gas, and Clean Water |
10.9 |
13.4 |
13.4 |
|
5. |
Construction |
7.3 |
7.1 |
7.0 |
|
6. |
Trade, Hotel, and Restaurant |
7.2 |
1.2 |
5.8 |
|
7. |
Transportation and Communication |
16.7 |
17.4 |
16.7 |
|
8. |
Finance, Leasing and Business Services |
8.2 |
5.5 |
6.3 |
|
9. |
Services |
6.4 |
6.7 |
6.9 |
|
Gross Domestic Product (GDP) |
6.1 |
4.7 |
6.0 |
|
Source: Indonesia Economic Almanac
2010 by Bisnis Indonesia
The WINGS Group
adopts very reclusive attitude towards outsiders and rejected to unveil its
financial condition. The WINGS Group's financial condition is still very much dependent
on the financial condition of its member companies. WINGS Group's operation in
2008 is estimated to have posted a total sales turnover of Rp. 14,120.0 billion
increased to Rp. 15,100.0 billion in 2009 picked-up to Rp. 16,200.0 billion in
2010 and projected to continue on rising by 4% to 5% in 2011. It is estimated
that the group's operation in 2010 yielded a total net profit of Rp. 1,134.0
billion with a total net worth of about Rp. 7,720.0 billion. The WINGS Group is
backed by financially strong business family. Beside that, in chemical
business, WINGS Group is backed by financially strong local and foreign partner
behind it.
The WINGS
Group’s management is led by Mr. Harjo Sutanto AKA Tan Siek Miauw (85) as
President Commissioner. The Management of the WINGS Group is also handled and
backed by Mr. Teddy Jeffrey Katuari (58), Mr. Ir. Eddy William Katuari (60),
Mr. Finney Henry Katuari (58) and Mr. Alex Ivan Tanojo (59). The whole of the
WINGS Group’s business decision is controlled by Mr. Harjo Susanto, Mr. Ivan
Alex Tanojo and Katuari family. The WINGS Group’s management is very
well-experienced particularly in the field of soap and detergent manufacturing
and distribution. They have wide business relation with local and overseas
private businessmen as well as with government sectors. So far, we did not hear
that the WINGS Group’s management having been involved in the business
malpractices. The WINGS Group is considered to be good for normal business
transaction.
Attachment:
List of the W I N G
S Group Members
1.
ADYABUANA PERSADA, P.T. (Ceramic Floor Tile Manufacturing)
2.
AKTIF INDONESIA INDAH, P.T. (Industrial Chemicals
Processing)
3.
ASPIRASI LUHUR, P.T. (Investment Holding)
4.
BIMA MAS SEJATI JAYA, P.T. (General Trading)
5. BIMA NUSA RAJAWALI, P.T. (General Trading)
6.
CIPTA SEGAR HARUM, P.T. (Cosmetic Manufacturing)
7.
DIAN LESTARI PERDANA, P.T. (Office Block Rental Management)
8.
ECOGREEN OLEOCHEMICALS, P.T. (Fatty Alcohol Industry)
9.
EKA TATA MAKMUR, P.T. (Real Estate and Housing Development)
10.
EKATAMA RAYAINDAH, P.T. (Housing Development)
11. EKONOMI RAHARJA, P.T. Bank (Banking)
12.
FOSFINDO, P.T. (Investment Holding)
13.
FINDECO JAYA, P.T. (Alkyl Benzene Sulfonate Processing)
14.
KARUNIA ALAM SEGAR, P.T. (Instant Noodles Processing
Industry)
15.
LION WINGS, P.T. (Cosmetic, Detergent, Toothpaste and
Sanitary Napkin Manufacturing)
16.
MULTI INDOMANDIRI, P.T. (Glass Table wares Manufacturing)
17.
MULTINUSA LESTARI, P.T. (Housing Development)
18.
MULTIPACK UNGGUL, P.T. (Corrugated Box, Printing and Soft
Packaging Manufacturing)
19.
PETRO CENTRAL, P.T. (Industrial Chemical Processing)
20. PRAKARSA ALAM SEGAR, P.T. (Instant Noodles Processing Industry)
21.
PONDOK PALEMINDAH, P.T. (Housing Development)
22.
PONDOK PALEM INDAH PERMAI, P.T. (Housing Development)
23.
PONDOK PALEM INDAH RAYA, P.T. (Housing Development)
24.
SAYAP MAS UTAMA, P.T. (Soap and Cosmetic Industry)
25.
SADHANAGRAHA ADHIKA, P.T. (Investment Holding)
26.
SARANAGRIYA LESTARI KERAMIK, P.T. (Ceramic Industry)
27.
SATYAWADA MITRAUSAHA (Investment Holding)
28.
SIAM-INDO CONCRETE PRODUCTS, P.T. (Natural Fiber
Cement/Roofing Sheets Manufacturing)
29.
SIAM-INDO GYPSUM INDUSTRY, P.T. (Gypsum Plasters and
Compound Manufacturing)
30.
SRIWIJAYA ALAM SEGAR, P.T. (Food Processing Industry)
31.
TIRTA ALAM SEGAR, P.T. (Food and Beverages Processing
Industry)
32.
UNGGUL INDAH CORPORATION, (Industrial Chemical Processing)
33.
UNIPACK INDOSYSTEMS, P.T. (Plastic Flexible Packaging
Manufacturing)
34.
VARIA INDOWIN PERKASA, P.T. (Integrated Shrimp Culture)
35.
WINGS SURYA, P.T. (Soap, Detergent, Water glass and Plastic
Packaging Industry)
36.
Etc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
|
1 |
Rs.82.73 |
|
Euro |
1 |
Rs.68.88 |
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 |
|
-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.