MIRA INFORM REPORT
|
Report Date : |
15.07.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
CHEMICAL MARKET DEVELOPMENT AND INVESTMENT
COMPANY LIMITED |
|
|
|
|
Registered Office : |
Suite 135TT3 My Dinh New Urban Area - Me Tri- My Dinh - Tu Liem
District - Ha Noi City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
17.09.2010 |
|
|
|
|
Com. Reg. No.: |
0101539599 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
importing and trading all
chemicals |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Vietnam |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT IDENTIFICATION & LEGAL FORM
Current legal status
|
||
|
English Name |
|
CHEMICAL MARKET DEVELOPMENT AND INVESTMENT
COMPANY LIMITED |
|
Vietnamese Name |
|
CONG TY TNHH DAU TU VA PHAT TRIEN THI
TRUONG HOA CHAT |
|
Short name |
|
MDI CHEMICAL CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2004 |
|
Business Registration No. |
|
0101539599 |
|
Date of Registration |
|
17 Sep 2010 |
|
Place of Registration |
|
Business Registration Office of Ha Noi
City |
|
Current registered capital |
|
5,000,000,000 VND |
|
Tax code |
|
0101539599 |
|
Total Employees |
|
60 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Shareholders: MR. NGUYEN
MANH HIEN, MR. VU TUNG LAM, MR. TRAN TRUNG KIEN Changed to: MR. TRAN BINH AN |
17
Sep 2010 |
|
2 |
Subject has got former Business
Registration No: 0102014174 which was issued on 22 Sep 2004 Changed to:
0101539599 |
17
Sep 2010 |
|
3 |
Subject has got former Chartered capital:
VND 2 billion Changed to: VND 5 billion |
17
Sep 2010 |
|
4 |
Subject has got former Address: House B10
- Hoang Nam Hamlet - Co Nhue Commune - Tu Liem District - Hanoi Changed to:
Suite 135 TT3 - My Dinh New Urban Area - Me Tri- My Dinh - Tu Liem District -
Hanoi |
01
Sep 2010 |
company ADDRESSES
|
Head Office |
||
|
Address |
|
Suite 135TT3 My Dinh New Urban Area - Me
Tri- My Dinh - Tu Liem District - Ha Noi City - Vietnam |
|
Telephone |
|
(84-4) 3747 2977; 37473004; 37472978 |
|
Fax |
|
(84-4) 37472979 |
|
Email |
|
|
|
Website |
|
|
|
Land-use Right |
|
Leased |
|
|
||
|
Representative office
in Ha Noi |
||
|
Address |
|
Suite 114 TT3 My Dinh - Me Tri New Urban
Zone - My Dinh Commune - Tu Liem District - Ha Noi City - Vietnam |
|
Land-use Right |
|
Leased |
|
|
|
|
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
No. 422/24 Ho Van Hue Str, ward 9 - Phu
Nhuan District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 38446535 |
|
Fax |
|
(84-8) 38454489 |
|
Email |
|
|
|
Land-use Right |
|
Leased |
|
Business Registration No. |
|
0101539599-001 |
|
Note:
Client gave contact details of the branch locating in Ho Chi Minh City
of MDI CHEMICAL CO., LTD. On legal document, MDI CHEMICAL CO., LTD has registered branch office in Ho Chi Minh
city but most of activities of this branch are also run directly by MDI CHEMICAL CO., LTD- Ha Noi. Thus,
we made report on MDI CHEMICAL CO.,
LTD |
||
DIRECTORS
|
1.
NAME |
|
Ms.
BUI THUY HA |
|
Position |
|
CEO |
|
Date of Birth |
|
29 Sep 1972 |
|
ID Number/Passport |
|
030819571 |
|
ID Issue Date |
|
10 Dec 2003 |
|
ID Issue Place |
|
Haiphong police
department |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-4) 37472977 |
|
|
||
|
2.
NAME |
|
Mr.
VU TUNG LAM |
|
Position |
|
Deputy CEO |
|
Date of Birth |
|
01 Jan 1971 |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 902100571 |
|
Email |
|
lam.vutung@mdi.vn |
|
|
||
|
3.
NAME |
|
Mr.
TRAN VAN TAN |
|
Position |
|
Chief Accountant |
|
Resident |
|
No. 08A Ly Tu Trong
Street, Loc Tho Ward – Nha Trang City – Khanh Hoa Province – Vietnam |
|
Email |
|
tan.tranvan@midi.vn |
BUSINESS NATURE AND ACTIVITIES
|
The subject
specializes in importing and trading all chemicals and specialties to meet
diversified demands of the Vietnam’s domestic chemical industries which
includes paint, printing ink, plastic, rubber, textile, paper, candle, glass,
pottery, food, feeds, cosmetic, medicine, and metal finishing (polishing
stainless steel, electroplating and anti-corrosion coating). |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Chemical |
|
·
Market |
|
USA, England, France, Germany, Canada, Belgium, Austria, Holland,
Spain, Italy, Brazil, Korea, China, India, Thailand, Singapore, Malaysia,
Philipine, Indonesia, Taiwan, Hongkong... |
|
·
Ratio |
|
90% |
|
·
Mode of payment |
|
L/C, TT |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
The subject dosen't export. |
BANKERS
|
1.
ANZ BANK HA NOI BRANCH |
||
|
Address |
|
No. 14 Le Thai To Str. - Hoan Kiem District - Ha Noi City - Vietnam |
|
Telephone |
|
(84-4) 3825 8190 |
|
Fax |
|
(84-4) 3825 8188 |
|
|
||
|
2.
SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK THU DO BRANCH |
||
|
Address |
|
No.88 Ly Thuong Kiet Cua Nam ward - Hoan Kiem District - Ha Noi City -
Vietnam |
|
Telephone |
|
(84-4) 39428095 |
|
Fax |
|
(84-4) 39428085 |
|
|
||
|
3.
SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK HOCHIMINH CITY BRANCH |
||
|
Address |
|
No. 6-8 Pho Duc Chinh Str - District 1- Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 39144514 |
|
Fax |
|
(84-8) 39144516 |
SHAREHOLDERS
|
1.
NAME |
|
Ms.
BUI THUY HA |
|
Position |
|
CEO |
|
Date of Birth |
|
29 Sep 1972 |
|
ID Number/Passport |
|
030819571 |
|
Issued on |
|
10 Dec 2003 |
|
Issued Place |
|
Haiphong police department |
|
Work phone |
|
(84-4) 37472977 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
2,000,000,000 VND |
|
Percentage |
|
40% |
|
|
||
|
2.
NAME |
|
Mr.
TRAN BINH AN |
|
Date of Birth |
|
14 Sep 1962 |
|
ID Number/Passport |
|
030060217- |
|
Issued on |
|
19 Feb 2001 |
|
Issued Place |
|
Hai Phong department of policy |
|
Resident |
|
No. 142/106 Duong Giang Street - Ngo Quyen
District - Hai Phong City - Vietnam |
|
Mobile phone |
|
+84 903425421 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
3,000,000,000 VND |
|
Percentage |
|
60% |
FINANCIAL DATA
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
30,688,934,303 |
15,685,000,000 |
12,909,000,000 |
|
I. Cash and cash
equivalents |
998,411,830 |
291,000,000 |
693,000,000 |
|
1. Cash |
998,411,830 |
291,000,000 |
693,000,000 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
20,179,855,338 |
7,401,000,000 |
7,220,000,000 |
|
1. Receivable from customers |
14,557,061,749 |
7,225,000,000 |
6,953,000,000 |
|
2. Prepayments to suppliers |
3,793,403,966 |
176,000,000 |
17,000,000 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
1,950,000,000 |
0 |
250,000,000 |
|
6. Provisions for bad debts |
-120,610,377 |
0 |
0 |
|
IV. Inventories |
8,978,561,435 |
7,493,000,000 |
4,996,000,000 |
|
1. Inventories |
13,154,327,144 |
7,493,000,000 |
4,996,000,000 |
|
2. Provisions for devaluation of inventories |
-4,175,765,709 |
0 |
0 |
|
V. Other Current
Assets |
532,105,700 |
500,000,000 |
0 |
|
1. Short-term prepaid expenses |
0 |
0 |
0 |
|
2. VAT to be deducted |
0 |
0 |
0 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
532,105,700 |
500,000,000 |
0 |
|
B. LONG-TERM
ASSETS |
4,962,028,204 |
767,000,000 |
860,000,000 |
|
I. Long term
account receivable |
3,878,213,680 |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
0 |
|
4. Other long-term receivable |
3,878,213,680 |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets
|
0 |
767,000,000 |
860,000,000 |
|
1. Tangible assets |
0 |
767,000,000 |
860,000,000 |
|
- Historical costs |
0 |
1,115,000,000 |
1,023,000,000 |
|
- Accumulated depreciation |
0 |
-348,000,000 |
-163,000,000 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
0 |
|
- Initial costs |
0 |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
0 |
0 |
0 |
|
III. Investment
property |
1,083,814,524 |
0 |
0 |
|
Historical costs |
1,432,065,187 |
0 |
0 |
|
Accumulated depreciation |
-348,250,663 |
0 |
0 |
|
IV. Long-term
investments |
0 |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
0 |
0 |
0 |
|
1. Long-term prepaid expenses |
0 |
0 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
|
|
|
1. Goodwill |
0 |
|
|
|
TOTAL ASSETS |
35,650,962,507 |
16,452,000,000 |
13,769,000,000 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
32,293,840,015 |
13,559,000,000 |
10,885,000,000 |
|
I. Current
liabilities |
32,293,840,015 |
13,559,000,000 |
10,885,000,000 |
|
1. Short-term debts and loans |
16,761,067,782 |
7,027,000,000 |
2,241,000,000 |
|
2. Payable to suppliers |
10,974,716,093 |
5,133,000,000 |
7,820,000,000 |
|
3. Advances from customers |
3,637,414,081 |
780,000,000 |
306,000,000 |
|
4. Taxes and other obligations to the State Budget |
420,642,059 |
114,000,000 |
518,000,000 |
|
5. Payable to employees |
0 |
0 |
0 |
|
6. Accrued expenses |
0 |
0 |
0 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
500,000,000 |
505,000,000 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
0 |
0 |
0 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
0 |
0 |
0 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
3,357,122,492 |
2,893,000,000 |
2,884,000,000 |
|
I. OWNER’S
EQUITY |
3,357,122,492 |
2,893,000,000 |
2,884,000,000 |
|
1. Capital |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
|
2. Share premiums |
0 |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
1,357,122,492 |
893,000,000 |
884,000,000 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds |
0 |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
|
0 |
|
TOTAL LIABILITIES
AND OWNER’S EQUITY |
35,650,962,507 |
16,452,000,000 |
13,769,000,000 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2009 |
FY2008 |
FY2007 |
|
1. Total Sale |
86,997,801,216 |
67,224,000,000 |
18,911,000,000 |
|
2. Deduction item |
28,068,023 |
0 |
0 |
|
3. Net sale |
86,969,733,193 |
67,224,000,000 |
18,911,000,000 |
|
4. Costs of goods sold |
74,400,876,778 |
56,996,000,000 |
16,246,000,000 |
|
5. Gross profit |
12,568,856,415 |
10,228,000,000 |
2,665,000,000 |
|
6. Financial income |
21,477,745 |
24,000,000 |
28,000,000 |
|
7. Financial expenses |
3,576,765,285 |
1,801,000,000 |
55,000,000 |
|
- In which: Loan interest expenses |
3,576,765,285 |
|
|
|
8. Selling expenses |
0 |
0 |
0 |
|
9. Administrative overheads |
8,143,554,067 |
7,802,000,000 |
1,215,000,000 |
|
10. Net operating profit |
870,014,808 |
649,000,000 |
1,423,000,000 |
|
11. Other income |
200,156,255 |
0 |
0 |
|
12. Other expenses |
362,420,932 |
1,000,000 |
0 |
|
13. Other profit /(loss) |
-162,264,677 |
-1,000,000 |
0 |
|
14. Total accounting profit before tax |
707,750,131 |
648,000,000 |
1,423,000,000 |
|
15. Current corporate income tax |
176,937,533 |
162,000,000 |
398,000,000 |
|
16. Deferred corporate income tax |
|
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
|
|
|
18. Profit after tax |
530,812,598 |
486,000,000 |
1,025,000,000 |
FINANCIAL RATIOS AND AVERAGE
INDUSTRY RATIOS
|
||||
|
|
||||
|
Description |
FY2009 |
FY2008 |
FY2007 |
Average Industry |
|
Current liquidity ratio |
0.95 |
1.16 |
1.19 |
1.45 |
|
Quick liquidity ratio |
0.67 |
0.60 |
0.73 |
0.87 |
|
Inventory circle |
9.03 |
7.61 |
6.13 |
7.48 |
|
Average receive period |
84.69 |
40.18 |
139.35 |
64.15 |
|
Utilizing asset performance |
2.44 |
4.09 |
1.37 |
2.38 |
|
Liability by total asset |
90.58 |
82.42 |
79.05 |
69.14 |
|
Liability by owner equity |
961.95 |
468.68 |
377.43 |
281.46 |
|
Ebit / Total asset (ROA) |
12.02 |
3.94 |
10.33 |
10.33 |
|
Ebit / Owner's equity (ROE) |
127.62 |
22.40 |
49.34 |
35.61 |
|
Ebit / Total sale (NPM) |
4.92 |
0.96 |
7.52 |
4.71 |
|
Gross profit / Total sale (GPM) |
14.45 |
15.21 |
14.09 |
15.43 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Low |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Developing |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C, TT |
|
Sale Methods |
|
To contracts |
|
Public opinion |
|
Normal |
|
CREDIT INQUIRY: 125,000 DA in term Acceptable! |
INTERPRETATION ON THE SCORES
|
CHEMICAL MARKET DEVELOPMENT AND INVESTMENT COMPANY
LIMITED was established in 2004 under the former business registration No.
0102014174. Currently, the subject is operating under the business
registration No. 0101539599 granted by Busiess Registration Office of Ha Noi
City. The subject specializes in importing and trading all chemicals and
specialties to meet diversified demands of the Vietnam’s domestic chemical
industries which includes paint, printing ink, plastic, rubber, textile,
paper, candle, glass, pottery, food, feeds, cosmetic, medicine, and metal
finishing (polishing stainless steel, electroplating and anti-corrosion
coating). Currently, the subject mainly imports chemical from USA, France,
United Kingdom, Germany, Austria, Japan, Holland, Spain, Italy, Belgium,
Brazil, Peru, Korea, PR China, India, Thailand, Singapore, Malaysia,
Philippines, Indonesia, Taiwan, and Hong Kong. Branch of
the subject is located at No. 422/24 Ho Van Hue St, Ward 9, Phu Nhuan
District, Ho Chi Minh City. The subject only imports then sell to it
customers without any processing. Following to the Vietnam Customs, the subject has
not overdue tax. Its total Value added tax of goods imported in the grace
period in March 2011 was VND 384 million. So its total volume of import in
March 2011 was VND 3,840 million, in which its max volume of import per time
was VND1.688 million. The
subject’s liability ratio was high. In last 2009 it increased from 82.42% to
90.58% while industry liability ratio is 69.14%, show its capital structure
was very risky. So its self-financing and solvency were not good. However,
its registered capital was rose from VND 2 billion to VND 5 billion in 2010,
improved its financial capability. In general,
the subject is a small company in the industry. With its current financial
situation it can meet the small payment commitments. However caution is still
needed for all medium-large transactions. |
APPENDIXES
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed (%) |
Total employees
2009 (Thousand) |
Total
enterprises |
Annual average
capital of enterprises |
||
|
Predict 2010 |
2009 |
|||||
|
Agriculture,
Forestry and Fishing |
2.8 |
3.0 |
24,788.5 |
2,399 |
50,530 |
|
|
Trade and Services |
7.5 |
11 |
10,517.9 |
79,181 |
1,754,973 |
|
|
Construction |
7 |
11.3 |
2,692.8 |
17,783 |
248,268 |
|
|
Manufacturing |
12 |
7.6 |
7,591.2 |
30,786 |
967,068 |
|
|
|
||||||
|
ECONOMIC
INDICATORS |
||||||
|
|
||||||
|
|
2010 |
2009 |
2008 |
|||
|
Population (Million person) |
86.93 |
86.02 |
86.1 |
|||
|
Gross Domestic Products (US$ billion) |
102.2 |
91 |
84.9 |
|||
|
GDP Growth (%) |
6.78 |
5.32 |
6.2 |
|||
|
GDP Per Capita (US$) |
1,160 |
1,080 |
1,040 |
|||
|
Inflation (% Change in Composite CPI) |
11.75 |
6.88 |
24.4 |
|||
|
|
||||||
|
SERVICE TRADE
PERFORMANCE |
||||||
|
|
||||||
|
Billion USD |
2010 |
2009 |
2008 |
|||
|
Exports |
71.6 |
56.6 |
62.9 |
|||
|
Imports |
84 |
68.8 |
76.6 |
|||
|
Trade Balance |
-12.4 |
-12.2 |
-14.6 |
|||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.53 |
|
UK Pound |
1 |
Rs.71.80 |
|
Euro |
1 |
Rs.63.15 |
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.