MIRA
INFORM REPORT
|
Report Date : |
01.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
PHARMASCRIPT PHARMACEUTICALS LTD |
|
|
|
|
Formerly Known As : |
WATSON PHARMACEUTICALS. |
|
|
|
|
Registered Office : |
1st Floor Block C Sandton Close Corner 1st And Norwick Close Sandton Gauteng |
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|
Country : |
South Africa |
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|
Date of Incorporation : |
20 July 2001 |
|
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Com. Reg. No.: |
2001/015798/06 |
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|
|
Legal Form : |
Private Company |
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|
|
|
Line of Business : |
The importing, manufacturing and distribution of scheduled pharmaceuticals. |
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 |
|
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) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Assessment
This is an established company which forms
part of an international group.
The subject is meeting commitments on time.
Suppliers speak highly of the subject.
The subject is considered equal to an amount
of US$1 500 000.
Company Information
|
Registered
Name |
PHARMASCRIPT PHARMACEUTICALS LTD It was stated that the subject applied to CIPC to change its name to
WATSON PHARMACEUTICALS. |
|
Trading
as/ Division Name |
|
|
Previous Name |
|
|
Date of Name
Change |
|
|
Registration
Number |
2001/015798/06 |
|
Registration
Date |
20 July 2001 |
|
Date Commenced
Trading |
20 July 2001 |
|
History of
Business |
The subject was commenced as a new business. |
|
History of
Principals |
|
|
Shareholders of
subject and % holding |
100% SCRIPTPHARM HOLDINGS (PTY)
LTD – registration certificate number:
2001/015798/06, which is in turn owned by WATSON PHARMACEUTICALS INC.
in New YORK. |
|
Authorised Share
Capital |
|
|
Issued Share
Capital/Members Contribution |
8 268 430 of R1 shares |
|
Age of Company |
10 years 1 month |
|
Status |
Active |
|
Operations
Assessment |
The importing, manufacturing and
distribution of scheduled pharmaceuticals. |
|
Industry/
Customers |
Pharmacies, doctors, hospitals, clinics
etc. |
|
Area of
distribution |
All South African distributions are done
via UTI PHARMA, which is a pharmaceutical distribution company. |
|
Export |
The subject exports on a limited scale via
UTI PHARMA to African countries. |
|
Major Industry
Code / SICC |
33530 MANUFACTURING |
|
Definition of
Code |
Manufacture of pharmaceuticals, medicinal
chemical & botanical products |
|
Head Office
Physical Address |
1st Floor Block C Sandton Close Corner 1st and Norwick Close SANDTON Gauteng The subject moved from the premises 1 Stirrup Lane Woodmead Office Park WOODMEAD, Johannesburg, 2125. |
|
Head Office
Postal Address |
P O Box 653590 BENMORE 2010 The subject is also utilizing the postal
address: Postnet Suite 525 Private Bag X29 GALLO MANOR 2128 |
|
Current Tel
Number |
010 591 0100 |
|
Current Fax
Number |
011 388 3085 |
|
Current Email
Address |
|
|
Web Site Address |
Auditors Information
|
Company
Registered Name |
GRANT THORNTON |
|
Trading Name |
Partnership |
|
Physical Address |
137 Daisy Street Grayston Drive SANDOWN 2196 |
|
Postal Address |
Private Bag X28 BENMORE 2010 |
|
Contact Person |
Mandy Turner |
|
Contact Number |
011 322 4500 011 322 4711 |
|
Email |
mturner@gt.co.za |
|
Principals |
18 |
|
Subject Verified
as Client |
Yes |
|
Practice number |
903485E |
|
VAT Number |
4300118389 |
|
Years With
Auditors |
5 years |
|
Website |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
MALHERBE LOURENSE |
Unknown by the respondent |
|
BDO SPENCER STEWARD (JHB) INC |
Unknown by the respondent |
Tax Information
|
Vat Number |
4400207538 |
|
Status |
Active |
|
Vat Liable Date |
1 March 2003 |
|
Tax Number |
9471180142 |
|
Financial Year
End |
DECEMBER |
Black Economic Empowerment
|
Status |
None |
|
Score |
Not applicable |
|
Expire Date |
Not applicable |
|
BEE Certificate
Available |
No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
No |
|
ISO Certificate
Available |
No |
|
Certified by
anAccredited Agent |
No |
Workman’s compensation
|
Registered |
No It was stated that only the associate company, SCRIPTPHARM MANAGEMENT
(PTY) LTD, which employs the personnel of the group, is registered for
workman’s compensation. |
|
Compliance
Certified |
Yes – under the name of the associate company, SCRIPTPHARM MANAGEMENT
(PTY) LTD. |
Company Structure
|
Branches |
The subject has
small sales offices in: Durban, Port
Elizabeth, Cape Town and Bloemfontein. |
|
Subsidiary
Company |
None |
|
Shareholding |
|
|
Registration
Number |
|
|
Import / Export |
|
|
South African
Registered Associated Companies |
WATSON PHARMA (PTY) LTD - dormant |
|
Registration
Number |
2001/025128/07 |
|
Comments |
It was established that the above mentioned company is in the process
of changing its name to SCRIPTPHARM MANAGEMENT (PTY) LTD. |
|
South African Registered Associated Companies |
SCRIPTPHARM
MANAGEMENT (PTY) LTD |
|
Registration Number |
2001/009157/07 |
|
Comments |
It was stated
that the above mentioned company is in the process of changing its name to
WATSON PHARMA (PTY) LTD. |
|
Number of
Employees |
|
|
1.
Salaried
employees |
80group
employees It should be noted
that all employees are employed via the associate company, SCRIPTPHARM
MANAGEMENT (PTY) LTD. |
Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is
made up of |
|
|
|
|
|
1.
Light
Delivery Vehicles |
2 |
Owned by the
subject |
Combined book
value of R300 000 |
Unknown by the
respondent |
Head
OfficeOwned/ Rented |
It was stated that the head office premises are leased. |
|
Rental Company |
GROWTH POINT |
|
Lease Agreement |
5 year lease agreement |
|
Lease Expire
Date |
2015 |
|
Type of Premises |
The head office premises comprise of administration offices. |
Branches Owned/
Rented |
It was stated that some of the sales representatives have home offices,
while others only have desks at other companies. |
Trade References
The subject imports finished and related
products from India
|
Supplier |
Contact |
|
WRAPSA |
012 653
0347 |
|
PHARMA-Q |
011 474
7400 |
|
DIV PHARM |
011 473
2140 |
|
FINE CHEMICALS |
021 531
6421 |
|
UTI PHARMA |
011 458
2222 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
9 years |
Open |
R2 000 000 |
30 days |
R1 000 000 |
30 days |
Very good |
|
3 years |
Open |
R1 500 000 |
30 days |
R80 000 –
R1 500 000 |
30 days |
Excellent |
|
6 years |
Haven’t |
Dealt |
30 days |
Since beginning
2011 |
30 days |
Good |
|
Unable |
To |
Obtain |
A |
Trade |
reference |
|
|
Subject |
Is |
A |
Client |
Don’t give |
Trade |
references |
Adverse Information on Subject
|
Judgements |
No information on record |
Judgements
|
Case Number |
No information on record |
Default Data
|
Date |
Details |
|
No information on record |
|
Notarial Bonds
|
Date |
Details |
|
No information on record |
|
Deeds Information
|
Property Interest |
|||
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Property Type: |
No information on record |
Stand Number: |
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Street Number: |
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Street Name: |
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Municipal Suburb: |
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Municipal City: |
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Township Name: |
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Province: |
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Deeds Office: |
|
Transfer ID: |
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Title Deed Number: |
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Purchase Date: |
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|
Transfer Date: |
|
Erf Size: |
|
|
Sold Price: |
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|
Bank Information
|
Bank |
FIRST NATIONAL BANK |
|
Branch |
Wierda Valley |
|
Bank Account
Number |
62051792375 |
|
Type of Account |
Current |
|
Account Name |
PHARMASCRIPT PHARMACEUTICALS LTD |
|
Overdraft
Facilities |
The subject does not require overdraft facilities as credit balances
are normally maintained at the bank. |
|
Date Opened |
27 March 2003 |
|
Bank Code |
C |
|
Bank Comment |
The subject’s bankers consider them good for all business normal
engagements |
It was stated that the subject also has a
call account with FIRST NATIONAL BANK.
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
No information on record |
|
|
|
|
|
|
Previous Bank Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
No information on record |
|
|
|
|
|
Financial Information
Financial Estimates
|
CURRENT ASSETS |
|
|
Stock |
R12 000 000 – R13 000 000 |
|
Debtors |
R32 000 000 Debtors book managed by the associated company SCRIPTPHARM MANAGEMENT
(PTY) LTD |
|
Cash on Hand |
R600 000 in call account |
|
FIXED ASSETS |
|
|
Plant,
Equipment, Vehicles |
R300 000 In the name of the associate company SCRIPTPHARM MANAGEMENT (PTY) LTD. |
|
Property |
Nil |
|
CURRENT
LIABILITIES |
|
|
Creditors |
R6 000 000 |
|
Loans to the
subject |
R186 000 000 |
|
LONG TERM
LIABILITIES |
|
|
Morgage Bonds |
Nil |
|
ANNUAL Turnover (2010) |
R106 800 000 |
|
Estimated Year
Turnover (2011) |
R121200000 |
Principals
|
Number of
Principals |
4 |
|
Average Age of
Active Principals |
|
Active Principals
Principal 1 of 4
|
Surname |
RANCHOD |
|
First Names |
RAJENDRA |
|
Marital Status |
Married |
|
ID Number |
5908105039050 |
|
Verified ID
Number |
Yes |
|
Current Age |
52 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2008-05-07 |
|
Address (at time
of Appointment) |
84 Agapanthus Street MALABAR Port |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt
review |
No information on record |
Other
|
Default
data |
No information on record |
Business Information on Principal
Current Business Interests
|
Company
Name |
Registration No |
Status |
Judgements |
Liquidation |
|
PHARMACY
COMMUNITY INVESTMENTS (PTY) LTD |
1949.035226/07 |
In business |
0 |
No |
|
HILLSBORO
INVESTMENTS (PTY) LTD |
1989/003984/07 |
Deregistration process |
0 |
No |
|
PHARMASCRIPT
PHARMACEUTICALS LTD |
2001/015798/06 |
In business |
0 |
No |
|
SCRIPTNET
LTD |
2001/024372/06 |
In business |
0 |
No |
|
B
K SIMON AND ASSOCIATES CC |
2003/083819/23 |
In business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
9 years 3 months |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
GOAL-9
INVESTMENTS CC |
1994/033411/23 |
Deregistration
final |
0 |
No |
|
B AND
R RANCHOD CC |
2006/055557/23 |
Deregistration
final |
0 |
No |
|
CARNATION
INVESTMENTS CC |
2005/041822/23 |
Deregistration
final |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 2 of 4
|
Surname |
DU TOIT |
|
First Names |
JACOBUS PETRUS |
|
Marital Status |
Married |
|
ID Number |
4712245021080 |
|
Verified ID
Number |
No |
|
Current Age |
64 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2008-05-07 |
|
Address (at time
of Appointment) |
2 Turkoois Street Universitas BLOEMFONTEIN 9301 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No additional business interests |
|
|
|
|
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
No information on record |
|
|
|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 3 of 4
|
Surname |
SOMERVILLE |
|
First Names |
WILLIAM, V, G |
|
Marital Status |
Married |
|
ID Number |
5409255090183 |
|
Verified ID
Number |
Yes |
|
Current Age |
57 |
|
Designation |
CEO / director |
|
Status |
Active |
|
Appointment Date |
2011-08-01 |
|
Address
(at time of Appointment) |
18 Lovat Road HURLINGHAM 2196 It was stated that W V G SOMERVILLE is resident in the UK. |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
SCRIPTPHARM
MANAGEMENT (PTY) LTD |
2001/009157/07 |
In Business |
0 |
No |
|
SCRIPTHARM
HOLDINGS (PTY) LTD |
2001/024762/07 |
In Business |
0 |
No |
|
LEGAE
(PTY) LTD |
1983/070242/07 |
|
|
|
|
RANDCARE
INVESTMENTS (PTY) LTD |
1993/007864/07 |
Deregistration
process |
0 |
No |
|
GANDO
(PTY)LTD Preliminary |
1969/009579/07 |
Judicial
Management |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
25 years 5 months |
|
Company
Name |
Registration No |
Status |
Judgements |
Liquidation |
|
UTI
SHARED SERVICES (PTY) LTD |
1987/006075/07 |
In business |
0 |
No |
|
UTI
SOUTH AFRICA (PTY) LTD |
2004/015747/07 |
In business |
0 |
No |
|
UTI
LOGISTICS |
1987/003821/10 |
In business |
0 |
No |
|
PYRAMID
FREIGHTS |
1987/003687/10 |
In business |
0 |
No |
|
LIFE
IMPILO (PTY) LTD |
1985/001313/07 |
In business |
0 |
No |
|
COMMUNITY
CLINICS (PTY) LTD |
1986/003133/07 |
Deregistration |
0 |
No |
|
LIFE
ESIDIMENI (PTY) LTD |
1982/000915/07 |
In business |
0 |
No |
|
LIFECARE
PROPERTIES (PTY) LTD |
1971/009028/07 |
In business |
0 |
No |
|
CARENET
PROPERTIES (PTY) LTD |
1966/007194/07 |
In business |
0 |
No |
|
JEPPE
STREET NOMINEES (PTY) LTD |
1984/003117/07 |
Deregistration
process |
0 |
No |
|
LIFE
ESIDIMENI GROUP HOLDINGS LTD |
1988/001854/06 |
In business |
0 |
No |
|
OSHBRO
INVESTMENTS 30 (PTY) LTD |
1992/003078/07 |
Dissolved |
0 |
No |
|
FAIRFIELD
COURT (PTY) LTD |
1994/004655/07 |
Voluntary
liquidation |
0 |
Yes |
|
|
|
|
|
|
|
BALANCED
SUPPLIERS (PTY) LTD |
1983/011198/07 |
Voluntary
liquidation |
0 |
Yes |
|
DIRECT
INVESTMENTS (PTY) LTD |
1983/011199/07 |
Voluntary
liquidation |
0 |
Yes |
|
ACCREDITED
SUPPLIERS (PTY) LTD |
1983/011200/07 |
Dissolved |
0 |
No |
|
EMANATE
INVESTMENTS (PTY) LTD |
1984/003057/07 |
Dissolved |
0 |
No |
|
OSHBRO
INVESTMENTS 29 (PTY) LTD |
1992/003077/07 |
Voluntary
liquidation |
0 |
Yes |
|
LIFECON
INVESTMENTS LTD |
1992/003074/06 |
Deregistration
final |
0 |
No |
|
INTERNATIONAL
HEALTH CARE DISTRIBUTORS (PTY) LTD |
1993/003736/07 |
Voluntary
liquidation |
0 |
Yes |
|
SANSAF
HOLDINGS (PTY)LTD |
1969/007157/07 |
Voluntary Liquidation |
0 |
Yes |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 4 of 4
|
Surname |
SCHOOMBIE |
|
First Names |
DERRICK ANDRE |
|
Marital Status |
Divorced |
|
ID Number |
4912025082084 |
|
Verified ID
Number |
Yes |
|
Current Age |
62 |
|
Designation |
Director |
|
Status |
Active |
|
Appointment Date |
2011-08-01 |
|
Address
(at time of Appointment) |
472 The Ranyn Rivonia Road SUNNINGHILL 2191 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on Principal
Current Business Interests
|
Company
Name |
Registration No |
Status |
Judgements |
Liquidation |
|
ALLEGRA
PHARMACEUTICAL CARE MANAGEMENT SOLUTIONS (PTY) LTD |
2008/003071/07 |
In business |
0 |
No |
|
PUZANI
(PTY) LTD |
1969/011677/07 |
|
|
|
|
ARROW
PHARMA SOUTH AFRICA (PTY) LTD |
2000/025840/07 |
In business |
0 |
No |
|
SCRIPTPHARM
MANAGEMENT (PTY) LTD |
2001/009157/07 |
In business |
0 |
No |
|
CHESTNUT
HILL INVESTMENTS 44 (PTY) LTD |
2004/000096/07 |
Deregistration
process |
0 |
No |
|
TAMBOTI
LODGE SHARE BLOCK (PTY) LTD |
1997/005692/07 |
In business |
0 |
No |
|
TRADEMARK
MANAGEMENT CC |
1991/011967/23 |
In business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
11 years |
|
Company
Name |
Registration No |
Status |
Judgements |
Liquidation |
|||
|
DIRECT
PATIENT SUPPORT (PTY) LTD |
2005/038516/07 |
In business |
0 |
No |
|||
|
CLICKS
DIRECT MEDICINES (PTY) LTD |
2005/005435/07 |
In business |
0 |
No |
|||
|
SCRIPTNET
LTD |
2001/024372/06 |
In business |
0 |
No |
|||
|
SCRIPTPHARM
RISK MANAGEMENT (PTY) LTD |
2002/004492/07 |
In business |
0 |
No |
|||
|
WATSON
PHARMA (PTY) LTD |
2001/025128/07 |
In business |
0 |
No |
|||
|
SCRIPTPHARM
HOLDINGS (PTY) LTD |
2001/024762/07 |
In business |
0 |
No |
|||
|
SCRIPTPHARM
ADMINISTRATION AND PROCUREMENT (PTY) LTD |
2002/004480/07 |
Deregistration
process |
0 |
No |
|||
|
PHARMASCRIPT
PHARMACEUTICALS LTD |
2001/015798/06 |
In business |
0 |
No |
|||
|
SCRIPTPHARM
PROPERTIES (PTY) LTD |
2002/003825/07 |
In business |
0 |
No |
|||
|
SELECTIVE
PRODUCT IMPACT (PTY) LTD |
2002/026217/07 |
In business |
0 |
No |
|||
|
THE
DOCTORS LABORATORY (PTY) LTD |
2000/010118/07 |
Deregistration
process |
0 |
No |
|||
|
OCCUPATIONAL
CARE SOUTH AFRICA (PTY) LTD |
1995/004774/07 |
In business |
0 |
No |
|||
|
ASPEN
PORT ELIZABETH (PTY) LTD |
1973/002147/07 |
In business |
0 |
No |
|||
|
PERFECT
10 DISTRIBUTION CC |
1987/001510/23 |
In business |
0 |
No |
|||
|
DIRECT
PATIENT SUPPORT (PTY) LTD |
2005/038516/07 |
In business |
0 |
No |
|||
|
GENESIS
PHARMACEUTICALS AFRICA (PTY) LTD |
2008/000075/07 |
Deregistration
final |
0 |
No |
|||
|
PHARMASCRIPT
GENESIS SOUTH AFRICA (PTY) LTD |
2008/003115/07 |
Deregistration
final |
0 |
No |
|||
|
JEUIM
PROPERTIES CC |
2004/080702/23 |
Deregistration
final |
0 |
No |
|||
|
FLEET-TRAK
CC |
1993/018028/23 |
Deregistration
final |
0 |
No |
|||
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
T60891/2009 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
WOODMEAD Sandton |
|
Property Type |
Freehold / Ervin |
Extent / Size |
509.0SQM |
|
Purchase Date |
2009-05-08 |
Purchase price |
R2 750 000 |
|
% Ownership |
|
Bond Holder |
Firstrand Bank Ltd |
|
Bond Number |
B387942009 |
Bond Amount |
R1 700 000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.87 |
|
|
1 |
Rs.78.11 |
|
Euro |
1 |
Rs.68.36 |
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.