MIRA INFORM REPORT
|
Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
CARGILL VIETNAM COMPANY LIMITED |
|
|
|
|
Registered Office : |
Lot 29, Bien Hoa 2 Industrial Zone - |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Year of Establishment : |
1995 |
|
|
|
|
Legal Form : |
Foreign Invested Company |
|
|
|
|
Line of Business : |
Manufacturing feed for cattle and for
aquaculture |
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 : |
Good |
|
|
|
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
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 |
|
CARGILL VIETNAM COMPANY LIMITED |
|
Vietnamese Name |
|
CONG TY TNHH CARGILL VIET |
|
Short name |
|
CARGILL VIETNAM CO.,LTD |
|
Type of Business |
|
Foreign invested company |
|
Year Established |
|
1995 |
|
Investment Certificate No |
|
472043000219 |
|
Date of investment |
|
23 Aug 2007 |
|
Place of investment |
|
Management Board of Industrial Zones of |
|
Registered Investment Capital |
|
131,233,000 USD |
|
Chartered capital |
|
23,838,000 USD |
|
Investment Duration |
|
42 Years |
|
Status |
|
Unlisted |
|
Tax code |
|
3600233178 |
|
Total Employees |
|
500 |
|
Note |
|
The correct name of subject is as above |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Investment
Certificate No. 1411/GP, Issuance on October 31st, 1995 by
Ministry of Planning and Investment Changed to: 472043000219 by Management
Board of Industrial Zones of |
23
Aug 2007 |
|
2 |
Subject has got former Registered
Investment Capital: 73,457,000 USD Changed to: 131,233,000 USD |
N/A |
company ADDRESSES
|
Registration
Address and main factory |
||
|
Address |
|
Lot 29, Bien Hoa 2 Industrial Zone - |
|
Telephone |
|
(84-61) 383 6525 / 383 6528 |
|
Fax |
|
(84-61) 383 6518 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Headquarters |
||
|
Address |
|
4th floor - Tai Minh Building - 77 Hoang
Van Thai Str - Tan Phu Ward - 7 District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84 - 8) 5416 1555 |
|
Fax |
|
(84 - 8) 5416 0495 |
|
Note: Subject
moved here in Dec 2010 |
||
|
|
||
|
Branch in Hung
Yen |
||
|
Address |
|
Pho Noi A Industrial Park - Trung Trac
Commune - Van Lam District - Hung Yen Province - Vietnam |
|
Telephone |
|
(84-321) 398 0508 |
|
Fax |
|
(84-321) 398 0510 |
|
Manager |
|
Mr. DO BINH MINH |
|
|
||
|
Branch in Dong
Thap |
||
|
Address |
|
C Group - Sa Dec Industrial Zone - Sa Dec
District - |
|
Telephone |
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(84 – 67) 3764 980 |
|
Fax |
|
(84 – 67) 3764 001 |
|
Email |
|
|
|
Manager |
|
Mr. TRAN TONG QUOC |
|
|
||
|
Branch in Dong
Nai |
||
|
Address |
|
Bac Son Commune - |
|
Telephone |
|
(84-61) 3869282 |
|
|
||
|
Branch in Can
Tho |
||
|
Address |
|
Lot 19A6 Tra Noc 1 Industrial Zone - Binh
Thuy District - Can Tho City - |
|
Telephone |
|
(84 – 56) 3549 101 |
|
Fax |
|
(84 – 56) 3549 110 |
|
Email |
|
|
|
Manager |
|
Mr. TRAN TONG QUOC |
|
|
||
|
Branch in Long
An |
||
|
Address |
|
Lot B1- B2 Thuan Dao Industrial Zone - Ben
Luc District - Long An Province - |
|
Telephone |
|
(84 – 72) 3632 750 |
|
Fax |
|
(84 – 72) 3632 752 |
|
Email |
|
|
|
Manager |
|
Mr. VO VAN TUAN |
|
|
||
|
Branch in Binh
Dinh |
||
|
Address |
|
Lot B1-6 Long My Industrial Zone - |
|
Telephone |
|
(84-56) 3549101 |
|
Fax |
|
(84-56) 3549110 |
|
Note: The
registered no. 352043000063 |
||
DIRECTORS
|
1
. NAME |
|
Mr.
TRUONG MINH CHANH |
|
Position |
|
Chairman |
|
Nationality |
|
American (Vietnamese overseas) |
|
Telephone |
|
(84-8) 3822 7737 |
|
Mobil phone |
|
+84 903702334 |
|
Qualification |
|
Bachelor |
|
|
||
|
2
. NAME |
|
Mr.
SU CHEN HUNG (STONEY SU) |
|
Position |
|
General Director |
|
Resident |
|
3 Floor - 25 73 Alley, Tongyuan Street - Taiwan |
|
Nationality |
|
Taiwanese |
|
Tel/Mobil phone |
|
(84-61) 383 6258 |
|
Qualification |
|
Management |
|
|
||
|
3
. NAME |
|
Mr.
TRUONG DAI VIET |
|
Position |
|
Production Director |
|
Contact Address |
|
4th floor - Tai Minh Building - 77 Hoang
Van Thai Str - Tan Phu Ward - 7 District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
4
. NAME |
|
Mr.
PHAM THANH TRUNG |
|
Position |
|
Business Director |
|
Contact Address |
|
4th floor - Tai Minh Building - 77 Hoang
Van Thai Str - Tan Phu Ward - 7 District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Note: Mr. HO HOANG DUNG is the subject’s technical
director. |
||
BUSINESS
NATURE AND ACTIVITIES
The
main business activities of the subject include:
- Manufacturing feed for cattle and for aquaculture
- Manufacturing and trading in agricultural products
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Materials |
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·
Market |
|
|
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
The subject doesn’t export. |
BANKERS
|
1.
|
||
|
Address |
|
No.235 Dong Khoi Str - 1 District - |
|
Telephone |
|
(84-8) 38292288 |
|
Fax |
|
(84-8) 38230530 |
|
|
||
|
2.
VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No. 7 Le Thi Hong Gam Street Nguyen Thai Binh Ward - 1 District - |
|
Telephone |
|
(84-8) 3821 0055 |
|
Fax |
|
(84-8) 3829 6063 |
|
|
||
|
3.
ABN AMRO BANK HO CHI MINH CITY BRANCH |
||
|
Address |
|
162 Pasteur Str - 1 District - |
|
Telephone |
|
(84-8) 38222992 |
|
Fax |
|
(84-8) 38297240 |
|
|
||
|
4.
DEUTSCHE BANK AG, HO CHI MINH CITY BRANCH |
||
|
Address |
|
Floor 14th - |
|
Telephone |
|
(84-8) 38222667 |
|
Fax |
|
(84 8) 3822 2760 |
SHAREHOLDERS
|
1
. NAME |
|
CARGILL
ASIA PACIFIC HOLDINGS PTE LIMITED CO |
|
Address |
|
|
|
Tel |
|
65-6295-1112 |
|
Fax |
|
65-6393-8898 |
|
Percentage |
|
100% |
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 |
519,697,000,000 |
810,311,000,000 |
1,504,907,000,000
|
|
I. Cash and cash
equivalents |
14,257,000,000 |
311,748,000,000 |
1,110,390,000,000
|
|
1. Cash |
7,757,000,000 |
36,248,000,000 |
42,390,000,000 |
|
2. Cash equivalents |
6,500,000,000 |
275,500,000,000 |
1,068,000,000,000 |
|
II. Short-term
investments |
1,937,000,000 |
141,065,000,000 |
42,305,000,000 |
|
1. Short-term investments |
1,937,000,000 |
141,065,000,000 |
42,305,000,000 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
123,061,000,000 |
113,222,000,000 |
125,794,000,000 |
|
1. Receivable from customers |
120,543,000,000 |
100,218,000,000 |
99,216,000,000 |
|
2. Prepayments to suppliers |
0 |
0 |
0 |
|
3. Inter-company receivable |
0 |
0 |
15,504,000,000 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
6,327,000,000 |
15,773,000,000 |
13,032,000,000 |
|
6. Provisions for bad debts |
-3,809,000,000 |
-2,769,000,000 |
-1,958,000,000 |
|
IV. Inventories |
348,958,000,000 |
227,180,000,000 |
210,138,000,000 |
|
1. Inventories |
348,958,000,000 |
227,180,000,000 |
210,138,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
31,484,000,000 |
17,096,000,000 |
16,280,000,000 |
|
1. Short-term prepaid expenses |
2,860,000,000 |
9,436,000,000 |
9,482,000,000 |
|
2. VAT to be deducted |
27,498,000,000 |
6,151,000,000 |
5,532,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
535,000,000 |
0 |
|
4. Other current assets |
1,126,000,000 |
974,000,000 |
1,266,000,000 |
|
B. LONG-TERM
ASSETS |
404,531,000,000 |
357,756,000,000 |
221,461,000,000 |
|
I. Long term
account receivable |
0 |
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 |
0 |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets
|
380,054,000,000 |
340,428,000,000 |
209,740,000,000 |
|
1. Tangible assets |
377,854,000,000 |
202,741,000,000 |
208,603,000,000 |
|
- Historical costs |
651,127,000,000 |
449,552,000,000 |
429,448,000,000 |
|
- Accumulated depreciation |
-273,273,000,000 |
-246,811,000,000 |
-220,845,000,000 |
|
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 |
2,200,000,000 |
137,687,000,000 |
1,137,000,000 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
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 |
24,477,000,000 |
17,328,000,000 |
11,721,000,000 |
|
1. Long-term prepaid expenses |
7,787,000,000 |
0 |
0 |
|
2. Deferred income tax assets |
16,690,000,000 |
0 |
0 |
|
3. Other long-term assets |
0 |
17,328,000,000 |
11,721,000,000 |
|
TOTAL ASSETS |
924,228,000,000 |
1,168,067,000,000
|
1,726,368,000,000
|
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
498,610,000,000 |
307,064,000,000 |
331,505,000,000 |
|
I. Current
liabilities |
487,831,000,000 |
297,223,000,000 |
324,201,000,000 |
|
1. Short-term debts and loans |
44,000,000,000 |
0 |
0 |
|
2. Payable to suppliers |
215,366,000,000 |
118,201,000,000 |
184,891,000,000 |
|
3. Advances from customers |
1,936,000,000 |
800,000,000 |
951,000,000 |
|
4. Taxes and other obligations to the State Budget |
65,754,000,000 |
2,658,000,000 |
9,093,000,000 |
|
5. Payable to employees |
0 |
0 |
0 |
|
6. Accrued expenses |
125,414,000,000 |
120,591,000,000 |
102,305,000,000 |
|
7. Inter-company payable |
0 |
0 |
26,088,000,000 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
35,361,000,000 |
54,973,000,000 |
873,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
10,779,000,000 |
9,841,000,000 |
7,304,000,000 |
|
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 |
9,841,000,000 |
7,304,000,000 |
|
4. Long-term debts and loans |
0 |
0 |
0 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
10,779,000,000 |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
425,618,000,000 |
861,003,000,000 |
1,394,863,000,000
|
|
I. OWNER’S
EQUITY |
425,618,000,000 |
861,003,000,000 |
1,394,863,000,000
|
|
1. Capital |
147,215,000,000 |
147,215,000,000 |
147,215,000,000 |
|
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 |
278,403,000,000 |
713,788,000,000 |
1,247,648,000,000 |
|
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 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
924,228,000,000 |
1,168,067,000,000
|
1,726,368,000,000
|
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2009 |
FY2008 |
FY2007 |
|
1. Total |
3,375,834,000,000
|
3,207,145,000,000
|
2,296,834,000,000
|
|
2. Deduction item |
253,174,000,000 |
222,074,000,000 |
144,287,000,000 |
|
3. Net sale |
3,122,660,000,000
|
2,985,071,000,000
|
2,152,547,000,000
|
|
4. Costs of goods sold |
2,639,650,000,000 |
2,666,818,000,000 |
1,857,208,000,000 |
|
5. Gross profit |
483,010,000,000 |
318,253,000,000 |
295,339,000,000 |
|
6. Financial income |
9,489,000,000 |
60,196,000,000 |
65,856,000,000 |
|
7. Financial expenses |
11,117,000,000 |
4,285,000,000 |
117,000,000 |
|
- In which: Loan interest expenses |
0 |
0 |
0 |
|
8. Selling expenses |
70,979,000,000 |
78,306,000,000 |
49,692,000,000 |
|
9. Administrative overheads |
97,656,000,000 |
75,022,000,000 |
64,060,000,000 |
|
10. Net operating profit |
312,747,000,000 |
220,836,000,000 |
247,326,000,000 |
|
11. Other income |
5,676,000,000 |
1,546,000,000 |
42,505,000,000 |
|
12. Other expenses |
5,266,000,000 |
2,001,000,000 |
20,218,000,000 |
|
13. Other profit /(loss) |
410,000,000 |
-455,000,000 |
22,287,000,000 |
|
14. Total accounting profit before tax |
313,157,000,000 |
220,381,000,000 |
269,613,000,000 |
|
15. Current corporate income tax |
54,986,000,000 |
40,123,000,000 |
40,530,000,000 |
|
16. Deferred corporate income tax |
-638,000,000 |
5,607,000,000 |
0 |
|
18. Profit after tax |
257,533,000,000 |
185,865,000,000 |
229,083,000,000 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2009 |
FY2008 |
FY2007 |
Average Industry |
|
Current liquidity ratio |
1.07 |
2.73 |
4.64 |
1.47 |
|
Quick liquidity ratio |
0.35 |
1.96 |
3.99 |
0.70 |
|
Inventory circle |
15.13 |
12.20 |
9.18 |
8.31 |
|
Average receive period |
14.38 |
13.84 |
21.33 |
28.57 |
|
Utilizing asset performance |
3.38 |
2.56 |
1.25 |
2.64 |
|
Liability by total asset |
53.95 |
26.29 |
19.20 |
58.07 |
|
Liability by owner equity |
117.15 |
35.66 |
23.77 |
182.19 |
|
Ebit / Total asset (ROA) |
33.88 |
18.87 |
15.62 |
10.02 |
|
Ebit / Owner’s equity (ROE) |
73.58 |
25.60 |
19.33 |
25.93 |
|
Ebit / Total sale (NPM) |
9.28 |
6.87 |
11.74 |
3.82 |
|
Gross profit / Total sale (GPM) |
14.31 |
9.92 |
12.86 |
8.54 |
|
Note: The Average Industry was calculated by |
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Good |
|
Liquidity |
|
Medium/High |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Strong |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Through its banks |
|
|
|
Wholesaler |
|
CREDIT INQUIRY: USD 125,000 Against DA in terms ACCEPTABLE! |
INTERPRETATION
ON THE SCORES
|
CARGILL VIETNAM COMPANY LIMITED was established as
100% invested capital company from oversea under the former investment
certificate No. 1411/GP, Issuance on October 31st, 1995 by Ministry of
Planning and Investment. The subject is considered as the first foreign feed
producer in The subject's premises and facilities are
fairly good. Its former headquarters was located at Lot 29 Bien Hoa II
Industrial Zone - Cargill is so well-known trademark in According to the financial statement in 2009, we
found that the subject operated very well. Its net sale rose 4.58% to VND
3,122,660 million while profit after tax soared 38.9% to VND 257,533 million.
Additionally, following the large amount of accumulated retained earning
account, the subject has obtained high profit annually. The subject’s liability ratio was ideal. In late
of 2009 it decreased from 26.29% to 53.95% due to its profit sharing while
industry liability ratio is 58.07%, showed its capital structure was very
safe. With this capital structure, its self-financing was very strong and solvency
was good. However, in 2009 the subject's liquidity was very
low because it remained the high short-term abilities rate. Its cash and cash
equivalents was reduced very fast because it made dividend payment in cash.
Additionally, as it remained the large amount inventory, its quick liquidity
ratio was poor too. In
2009 profitability of the subject rose very well, it was higher than the
industry because it has managed costs more efficiently and cost per unit of
product decreased, utilizing asset performance was quite high. Its ROA soared
from 18.87% to 33.88%. We can find that the subject had operated extremely
well in 2009. In
general, the subject foreign investment company has the capital at large
level in the industry. With its current financial situation, it can meet to
normal payment commitment. However, caution is still needed for large business
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.45.21 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.62.43 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.