MIRA
INFORM REPORT
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Report Date : |
20.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SAUDI HYPERMARKETS CO LTD |
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Formerly Known As : |
SAUDI STORES CO / SAUDI HYPERMARKETS CO LLC |
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Registered Office : |
Royal Mall (fmly Royal Centre), 2nd |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
October 2003 |
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Com. Reg. No.: |
1010182239 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Owners and operators of hypermarkets selling foodstuff, garments,
electrical equipment, cosmetic, hygienic products and other items. |
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 : |
SR 5,000,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company NAME
Saudi
Hypermarkets Co Ltd (Correct)
Saudi Hypermarkets Co. (Requested)
ADDRESS
Building : Royal Mall (fmly Royal Centre), 2nd Floor
Street :
Area : Rahmania Area
P.O. Box : 231735
Town :
Country :
Telephone: (966 1) 253 4670 / 229 7711 (ext. 247 & 210) / Mobile
(966 50) 061 9598 (Abdullah Alsumarry)
Fax : (966 1) 229 7864 / 229
7863
E-Mail :
ecavaiuti@mafcareefour.ae / amohammed@mafcareefour.ae
Trading Styles : Carrefour / MAF
Also Known As : Saudi Stores Co /
Saudi Hypermarkets Co LLC
SENIOR COMPANY PERSONNEL
Name Position
1. Alain Goanvec
Chief Executive
Officer
2. Bandar Sangoura
Administration
Manager
3. Etienne Cavaiuti
Financial Manager
4. Mohammed Al Ater
Financial
Manager (Supermarkets)
5. Emad Arnout
Import &
Purchasing Manager
6. Mohamed Al Enezi
Business Development
Manager
7. Abdullah Alsumarry
Public Relation
Manager
Total Employees : 2,000 (subject)
25,000 (group)
PAYMENTS
No complaints have been heard regarding payments from local suppliers
or banks.
Subject is a member of the important Al Futtaim Group which had
consolidated annual revenues in the region of Dh 10 billion in 2007.
Al Futtaim Group of Companies, has been trading since the late 1950's
in different fields such as real estate, insurance, engineering,
advertising, public relations, travel and physical distribution,
computer software, electronics, automotive, jewellery and general
trading. The group currently employs 25,000 people across more than
60 operating companies. It operates leading brands in the retail
sector including IKEA, Marks & Spencer and Toys R Us and is the
largest automotive distributor in the UAE with a portfolio of brands
including
company also has operations in the rest of the GCC,
and
There are five core divisions of the Al-Futtaim organisation:
automotive, electronics, retail, finance services and real estate.
These divisions collectively operate over sixty companies bearing the
Al-Futtaim banner. Al Futtaim Sons Co LLC operates retail and
electronic divisions.
Associations inspire added confidence and we consider it is
acceptable to deal with subject for LARGE amounts.
Opinion on maximum credit : SR 5,000,000 (higher amounts may be
considered with assurances from the
shareholders as well as detailed
financial data)
Trade risk assessment :
PRINCIPAL BANKERS
NAME : BANQUE SAUDI FRANSI
Branch :
P.O. Box : 56006
Town :
Telephone: (966 1) 404 2222
Fax : (966 1) 404 2311
The company also has an account with:
1. The Saudi Investment Bank
Main branch
Telephone: (966 1) 477 8433
Fax : (966 1) 477 6781
2. Riyad Bank
Telephone: (966 1) 401 3030
Fax : (966 1) 404 1255
3. National Commercial Bank (Al Ahli)
Al Batha
Telephone: (966 1) 402 5084
Fax : (966 1) 402 0981 / 403 6500
FINANCIAL INFORMATION
Private companies in
disclose balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover : SR 185,000,000 - 2006 - approx
: SR 250,000,000 -
2007 - approx
: SR 310,000,000 -
2008 – exact
: SR 370,000,000 –
2009 – exact
: SR 420,000,000 –
2010 - projected
Net Profit : not given but
stated to be profitable
Full 2010 financial results are not yet available.
Financial year ends 31 December.
The following consolidated balance sheets as at 31 December 2007
applies to Majid Al Futtaim Group LLC, UAE, subject's ultimate parent
company (latest available):
2007 2006
(in thousands of AED)
ASSETS
Non-current
assets
Property,
plant and equipment
19,181,361 14,676,849
Investment
property
3,116,226 2,714,610
22,297,587 17,391,459
Goodwill
and other intangible assets
95,049 95,253
Investments 1,085,376 4,185,054
Net
investment in finance leases -
long
term portion
197,641 149,666
Long
term prepaid lease premium 21,564 23,462
Long
term receivables / advances
9,109 12,484
1,408,739 4,465,919
Current
assets
Short
term loans to related parties
5,736,984 -
Assets
classified as held for sale
33,702 33,831
Inventories 495,324 409,654
Trade
and other receivables
1,199,940 707,499
Due
from related parties
42,540 -
Net
investment in finance leases -
current
portion
175,690 116,432
Cash
at bank and in hand
1,972,752 2,396,930
9,656,932 3,664,346
Current
liabilities
Short
term loans
153,810 136,682
Trade
and other payables
3,429,089 2,536,751
Due
to related parties
41,843 231,146
Provisions 107,546 56,224
Dividend
payable to minority
216,000 -
Bank
overdraft
54,687 22,038
Current
maturity of long term loans
1,004,737 442,503
5,007,712 3,425,344
Net
current assets
4,649,220 239,002
Long
term liabilities
Long
term loans
4,796,998 1,986,959
Deferred
tax liabilities
323,213 137,958
Other
employment benefits
36,213 13,677
Provision
for staff terminal and
retirement
benefits
101,820 77,518
NET
ASSETS
23,097,302 19,880,268
Represented
by:
Share
capital
4,973,729 4,973,729
Revaluation
reserve
10,865,668 8,831,033
Other
reserves
7,103,701 5,816,746
Total
equity attributable to the
shareholders
of the Company
22,943,098 19,621,508
Minority
interest
154,204 258,760
TOTAL
CAPITAL AND RESERVES
23,097,302 19,880,268
CONSOLIDATED
PROFIT AND LOSS ACCOUNT
Revenue 11,393,691 8,635,566
Cost
of sales
(8,068,775) (6,152,033)
Operating
expenses
(2,762,669) (1,939,929)
Net
valuation gain on land and buildings
650,757 1,676,744
Net
financing costs (256,025) (104,442)
Interest
income
81,892 7,678
Other
expense - net
(7,453) (10,698)
Share
of loss in joint ventures & associate (70,848) (15,487)
Impairment
loss on investment in joint venture
- (110,283)
Profit
before tax and zakat
960,570 1,987,116
Income
tax and zakat expense
(70,993) (49,267)
Profit
from continuing operations
889,577 1,937,849
Discontinued
Operations
Profit
from discontinued operations
788,387 439,782
Profit
for the year
1,677,964 2,377,631
LEGAL STATUS AND HISTORY
Date Started : October 2003
History : Subject was established in October 2003 and started trading
in October 2004.
C.R. No. : 1010182239 (expires in 2012)
RCCI Membership No.: 128527
Authorised Capital : SR 25,000,000
Paid up Capital : SR 25,000,000
Limited Liability Company with the following shareholders :
Percentage
1. Majid Al Futtaim Investments LLC 75%
Lexus Tower
Telephone: (971 4) 294 9999
Fax :
(971 4) 294 0999 / 294 9090
2. Olayan Financial Company (OFC) 25%
(aka Olayan Financing Company)
Telephone: (966 1) 474 9000 / 477
8740 ext 1132 (CFO)
Fax : (966 1) 474 9108 / 478 0988
E-Mail : ofc@olayangroup.com
Shortform Name : OFC
Also Known As :
C.R. No. : 2051002951
Paid up Capital : SR 10,000,000
* Olayan Financing Company (OFC) is a member of the Olayan Group of
Companies,
private multinational enterprise comprising 50 companies and
affiliated businesses engaged in distribution, manufacturing,
services and investment. In
participate in more than 40 companies, often in partnership with
leading multinationals. Internationally, they are global investors,
with emphasis on both public and private equities and on fixed income
securities.
Ultimate parent company :
Majid Al Futtaim Group LLC
Commercial Bank of
Telephone: (971 4) 294 9999 / 268 4449
Fax : (971 4) 294 0999 / 268
4554
Personal Profile on Majid Al Futtaim :
He is a UAE national born in the 1930's. He is married with children
and is a prominent businessman in
Director of Arab Emirates Investments Ltd and Chairman of
Parent Company
The business of Majid Al Futtaim was formed in 1992 through the
vision and entrepreneurial spirit of its founder, Mr Majid Al
Futtaim. The Group has changed the face of shopping, entertainment
and leisure throughout the Middle East North Africa (MENA) region.
With over 13,400 employees (comprising over 44 different
nationalities), the Group is now one of the most significant
employers in the MENA region.
The Group comprises a number of distinct businesses which operate
throughout the MENA region.
- Majid Al Futtaim Properties is an integrated real estate
development and management
company, and is a market leader in
shopping malls, hotels and
master-planned communities;
- Majid Al Futtaim Retail operates Carrefour Hypermarkets throughout
the MENA region;
- Majid Al Futtaim Ventures has interests in financial services,
credit cards, leisure &
entertainment, cinemas, facilities
management and fashion.
- Majid Al Futtaim Trust (sold to its parent, Majid Al Futtaim
Capital at the end of 2007)
invests in international and regional
markets.
Affiliated companies of Saudi Hypermarkets Co Ltd:
Associates
Subject is 25% owned by Olayan Financing Company (OFC), member of the
Olayan Group of Companies whose operations are administered by
following main entities:
1. Olayan Saudi Holdings Company Ltd (OSHCO)
Al Khobar 31952
Telephone: (966 3) 857 5622 /
857 3377
Fax : (966 3) 857 5834 / 857 9126
2. Crescent Holding GmbH (CHG)
Opernring 1/R/709
A-1010
Telephone: (43 1) 585 9250
Fax : (43 1) 581 6247
3. Olayan Saudi Investment Co (OSICO)
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
4. Olayan Real Estate Company (OCO)
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
5. Olayan Europe Ltd. (OEL)
140 Piccadilly
Telephone: (44 207) 245 4000
Fax
: (44 207) 245 4001
6. Olayan America Corporation (OAC)
Telephone: (1 212) 750 4800
Fax : (1 212) 308 3654
The above companies Holds and manages following companies :
1. Al-Bustan Company Ltd. (AL-BUSTAN)
Telephone: (966 3) 887 1000
Fax : (966 3) 887 2000
Email : info@al-bustan.net
2. Aluminium Products Company Ltd.
Dammam 31451
Telephone: (966 3) 847 1300
Fax : (966 3) 847 3010
Email: gmoffice@alupco.com
3. Arabian Business Machines Company
Telephone: (966 1) 478 4909
Fax : (966 1) 477 7803
Email: abm@abmsate.com.sa
4. Arabian Health Care Supply Company
Telephone: (966 1) 474 7444
Fax : (966 1) 291 4234
Email: ahcfyr@ofc.com.sa
5. Arabian Medical Products Manufacturing Company
Telephone: (966 1) 498 5895
Fax :
(966 1) 498 5903
Email: info@enayah.com.sa
6. Arabian Paper Products Company
Telephone: (966 3) 887 1000
Fax : (966 3) 882 6291
Email: z.nazer@oshco.com
7. Arabian Telecommunications & Electronics Company
Telephone: (966 1) 478 4909
Fax : (966 1) 477 7803
Email: abm@abmsate.com.sa
8. Atlas Industrial Equipment Company
Jeddah 21462
Telephone: (966 2) 693 3357
Fax : (966 2) 693 2893
Email:
emile.bado@atlascopco.com
9. BP Solar Arabia Ltd.
Telephone: (966 1) 265 1573
Fax : (966 1) 265 1556
Email: info@bpsarabia.com.sa
10.HANA International Company Ltd. (HANA)
11.Coca-Cola Bottling Company of
Dammam 31421
Telephone: (966 3) 847 4111
Fax : (966 3) 847 3306
12.Colgate-Palmolive Arabia Ltd.
Jebel Ali Free Zone,
LOB 12, Office 28
U.A.E.
Telephone: (971 4) 881 9398
Fax : (971 4) 881 9343
13.Colgate-Palmolive Arabia Ltd. (CPAL)
Dammam 31461
Telephone: (966 3) 847 3133
Fax : (966 3) 847 1397
14.Drilling Equipment & Chemicals Company
Dammam 31411
Telephone: (966 3) 832 5113
Fax : (966 3) 832 3619
Email: drecco@atheer.net.sa
15.Exel-
Telephone: (966 3) 887 1000
Fax : (966 3) 887 2000
17.General Transportation & Equipment Company (GTE)
Block No. 7 - Building's 135
& 136
Safat 13011
Telephone: (965) 398 9508
Fax : (965) 398 9545
18.Global Company for Modern Printing & Copying
Telephone: (966 1) 464 1600
Fax : (966 1) 464 5104
Email: SA000@alphagraphics.com
19.Global Company for Modern Printing & Copying (MPC)
Telephone: (966 3) 882 2242
Fax : (966 3) 882 3164
Email: SA000@alphagraphics.com
20.HANA International Company Ltd. (HANA)
Telephone: (966 1) 477 2920
Fax : (966 1) 478 5314
21.Health Water Bottling Co. Ltd.
Telephone: (966 1) 263 3300
Fax : (966 1) 263 6499
Email: info@hwb-sa.com
22.Insulation Products Company (SAPTEX)
Telephone: (966 1) 265 1785
Fax : (966 1) 265 1041
23.Nabisco Arabia Company Ltd.
Dammam 31442
Telephone: (966 3) 847 3502
Fax : (966 3) 847 3659
Email: rafiq@nabisco.com.sa
24.Olayan America Corporation
Telephone: (212) 750 4800
Fax : (212) 308 3654
Email: OAC@olayangroup.com
25.Olayan Arabian Packaging Company Ltd.
Telephone: (966 3) 358 3272
Fax : (966 3) 358 5672
Email: sales@opcfilm.com
26.Olayan Descon Industrial Co. Ltd
Telephone: (966 3) 341 0671
Fax : (966 3) 341 0950
Email: odico@olayandescon.com
27.Olayan Food Services Company (OFS)
Telephone: (966 1) 477 2920
Fax : (966 1) 478 5314
28.Olayan Investments Company Establishment
Glyfada
Telephone: (30 210) 891 3000
Fax :
(30 210) 891 3001
Email: OICE@olayangroup.com
29.Olayan Kimberly-Clark
Telephone: (966 3) 847 3133
Fax : (966 3) 847 3129
Email: okc@kcc.com
30.Olayan Kimberly-Clark (
South Alba Industrial Area
Building No. 1051
Street No. 5135, Block No. 951
31.Saudi Arabian Bechtel Company
Telephone: (966 1) 482 9051
Fax : (966 1) 482 9563
32.Saudi Box Company Ltd.
Jeddah
Telephone: (966 2) 608 0426
Fax : (966 2) 637 3528
33.Saudi Plastic Products Company Ltd.
Arabian Plastics Company
(APLACO)
Telephone: (966 1) 448 0250
Fax : (966 1) 448 0543
34.Saudi Plastic Products Company Ltd. (SAPPCO)
Telephone: (966 1) 448 0448
Fax : (966 1) 448 1392
35.Saudi Xerox Agencies Company
Telephone: (966 1) 473 9800
Fax : (966 1) 473 9898
Email:
saudi.xerox@saudixerox.com
36.Steel Products Company Ltd.
Telephone: (966 1) 498 1888
Fax : (966 1) 498 2600
Email:
steel_products_co@yahoo.com
37.Technical Trading Company Ltd.
Telephone: (966 3) 887 1000
Fax : (966 3) 887 2000
38.United Arab Can Manufacturing Company
Dammam 31483
Telephone: (966 3) 812 1361
Fax : (966 3) 812 1363
Email: gmo@uacan.com
39.Vetco Saudi Arabia Ltd.
Telephone: (966 3) 882 6300
Fax : (966 3) 882 9595
Email: sales.vetco@varco.com.sa
40.Weir Arabian Metals Company
Telephone: (966 3) 812 1084
Fax : (966 3) 812 1260
41.Thermo Electron (
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
42.Industrial Processing Co. Ltd.
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
43.Saudi Marryot Ltd. - JV with Marryot Sun Line Ltd. of
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
44.Urban and Rural development Co. Ltd.
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
45.Saudi Lord Ltd. - JV with Lord International Inc. of the
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
46.Saudi Graphco Ltd.
2nd Industrial Area
Al Khobar 31952
47.RSV Saudi Construction Co. Ltd.
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
49.FMC Saudi Arabia Ltd.
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
50.Saudi Container Services.
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
51.Saudi General Site Services (GSS).
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
52.Rijn-Schelde-Vetralme Saudi Construction Co.
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
53.Olayan Arabia Automotive
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
54.Saudi Maritime Company (SMC)
Jeddah
Telephone: (966 2) 657 3119
Fax : (966 2) 657 3106
55.Saudi Forwarding & Transportation Company (Sauditrans)
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
56.Olayan National Marketing Co
Telephone: (966 1) 474 9000
Fax : (966 1) 474 9108
Affiliates of Parent Company
1. Majid Al Futtaim Investments LLC 100.0%
2. Majid Al Futtaim Leisure and Entertainment LLC 100.0%
3. International Property Services LLC 100.0%
4. Arabian Entertainment Services LLC 100.0%
5. MAF
6. MAF Misr for Commercial and Real Estate Investment 100.0%
7. MAF for Real Estate Investment SAE 100.0%
8. Majid Al Futtaim Retail LLC 100.0%
9. MAF Hyper Markets LLC 75.0%
Telephone: (971 4) 294 9999
Fax : (971 4) 294 9090
10.Majid Al Futtaim Hospitality LLC 100.0%
11.Majid Al Futtaim Fashions LLC 100.0%
12.Majid Al Futtaim Investment
13.
14.MAF
15.Majid Al Futtaim
16.Majid Al Futtaim Shopping Malls LLC 100.0%
17.Majid Al Futtaim Developments LLC 100.0%
18.MAF Investments
19.Majid Al Futtaim Properties LLC 100.0%
20.MAF Fashion
21.MAF Fashion
22.MAF Fashion Ready Wear W.L.L. 100.0%
23.Majid Al Futtaim North
24.MAF Fashion
25.Majid Al Futtaim Investments Mirdiff LLC 100.0%
26.MAM Investments LLC 100.0%
27.Majid Al Futtaim Malls International LLC 100.0%
28.Societe Tunisia WIFEK 100.0%
29.Majid Al Futtaim Shopping Malls KSA 100.0%
30.MAF for Installation and Management of Hypermarkets SAE 75.0%
31.Majid Al Futtaim Hypermarkets LLC, 75.0%
32.Majid Al Futtaim Fashion LLC 100.0%
33.Al Saqr Hypermarket LLC 75.0%
34.Majid Al Futtaim Hypermarkets
35.MAF Retail
36.Suburban Development Company SAL 92.7%
37.MAF Pars Hypermarket PJSC 75.0%
38.MAF Hypermarkets
39.Majid Al Futtaim Hypermarkets
40.MAF Hypermarkets
41.MAF Orix Finance Co. PJSC 60.0%
42.Majid Al Futtaim Greater Union LLC 51.0%
43.Majid Al Futtaim Dalkia Middle
44.MAF Fashion KSA LLC 75.0%
ACTIVITIES
The Company is involved in the following activities :
Owners and operators of hypermarkets selling foodstuff, garments,
electrical equipment, cosmetic, hygienic products and other items.
Imports mainly from
The company does not export, all sales are domestic.
FACILITIES
The Company has the following facilities :
14,500 sq.m. rented premises comprising administrative offices and a
9,000 sq.m. hypermarket with storage facilities located at the
heading address as well as 8 hypermarkets located elsewhere in Saudi
Subject previously was located at:
Al Malaz Area
Telephone: (966 1) 474 9900
Fax : (966 1) 477 9911
BRANCH OFFICES
Main hypermarkets :
1.
Telephone: (966 1) 253 5555
Fax : (966 1) 253 4662
General Manager : Teri Beylot
2. Le Mall
Telephone: (966 1) 229 9002
Fax : (966 1) 229 9024
(opened November 2005)
3. Jeddah Hypermaket
P.O. Box14497
Jeddah 21424
Telephone: (966 2) 227 0214
(opened on 23 March 2006)
Generl Manager : Remi Ferrec
4. Al Khayma Centre, Exit 26
Telephone: (966 1) 257 2004
Fax : (966 1) 257 2004
General Manager : Stephen Ponte
5. Rashed Mall next Extension
Al Khobar 31952
Telephone: (966 3) 897 5699 /
869 2185
Opened in August 2006.
General Manager : Christian
Nervegno
GENERAL INFORMATION
The accession of the Kingdom to the WTO is expected to lead to the
further expansion of the retail market in which Carrefour is
preparing would play one of the major roles. As a global chain,
Carrefour is operating some 10,000 branches in 30 countries including
the
The new Carrefour outlets also have a toys corner, a big digital
world and game play station areas, where customers not only can buy
products, but can also test them and evaluate them properly before
purchasing. It is also reported to have enhanced the ambiance, the
comfort and the image to make them more customer friendly.
Carrefour's
Philanthropic Society for Women during the holy month of Ramadan in
2005.
SPECIAL NOTE
You enquired on: Saudi Hypermarkets Co.. Please note that the correct
name is as per heading.
Interviewed : Mohammed Al Ater (Financial Manager / Supermarkets).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
|
|
1 |
Rs.72.71 |
|
Euro |
1 |
Rs.61.15 |
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.