MIRA INFORM REPORT
|
Report Date : |
17.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
DAITHIENHA JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
No. 3 Nguyen Van Cu Street - Ka Long Ward,
Mong Cai District, Quang Ninh Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
2007 |
|
|
|
|
Com. Reg. No.: |
5700646493 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Subject is engaged in (i)Commercial services, import
and export (ii)Transport
services, taxi |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
|
||
|
Registered English Name |
|
DAITHIENHA JOINT STOCK COMPANY |
|
Registered Vietnamese Name |
|
CONG TY CO PHAN DAI THIEN HA |
|
Registered short name |
|
DAITHIENHA.JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2007 |
|
Business Registration No. |
|
5700646493 |
|
Date of Registration |
|
18 Jan 2011 |
|
Place of Registration |
|
Quang Ninh Department of Planning and
Investment |
|
Current registered capital |
|
10,000,000,000 VND |
|
Status |
|
Unlisted |
|
Tax code |
|
5700646493 |
|
Total Employees |
|
30 |
|
Note |
|
The
correct name of the subject is as above, No space between DAI, THIEN and HA |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Address: Km3 Hai
Yen - Mong Cai District - Quang Ninh Province - Viet Nam Changed to: No. 3 Nguyen Van Cu Street -
Ka Long Ward - Mong Cai City - Quang Ninh Province |
18
Jan 2011 |
company ADDRESSES
|
Head Office |
||
|
Address |
|
No. 3 Nguyen Van Cu Street - Ka Long Ward,
Mong Cai District, Quang Ninh Province, Vietnam |
|
Telephone |
|
(84 - 33) 3772772 |
|
Fax |
|
(84 - 33) 3886258 |
|
Email |
|
|
|
Website |
|
|
|
Note |
|
The given
address is the old one. The company’s current address is as above |
DIRECTORS
|
1.
NAME |
|
Mr.
PHAM KHAC KIEN |
|
Position |
|
Chairman and General Director |
|
Date of Birth |
|
01 Nov 1974 |
|
ID Number/Passport |
|
B2554661 |
|
ID Issue Date |
|
23 Sep 2009 |
|
ID Issue Place |
|
Quang Ninh Pollice |
|
Resident |
|
Group 10 - Block 1 Ka
Long Ward, Mong Cai District, Quang Ninh Province, Vietnam |
|
Tel/Mobil phone |
|
+84 913264016 |
|
Email |
|
pham_khac_kien@yahoo.com |
|
|
||
|
2.
NAME |
|
Mr.
PHAM KHAC TRUNG |
|
Position |
|
Director Business |
|
ID Number/Passport |
|
100818764 |
|
Resident |
|
Group 10 - Block 1 Ka
Long Ward, Mong Cai District, Quang Ninh Province, Vietnam |
|
Tel/Mobil phone |
|
+84 913252636 |
BUSINESS NATURE AND ACTIVITIES
|
The subject registered the following business
activities: |
IMPORT & EXPORT ACTIVITIES
IMPORT:
|
·
Types of products |
|
Cermets, rice seeds, fertilizer, steel, iron, magie oxit,... |
|
·
Market |
|
China, India, Malaysia, Singapore |
|
·
Mode of payment |
|
TT, C.A.D, L/C |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Plastic beads, shell crab, sesame seeds,... |
|
·
Market |
|
China, Singapore |
BANKERS
|
1.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM MONG CAI BRANCH |
||
|
Address |
|
No.2 Van Don, Mong Cai District, Quang Ninh Province, Vietnam |
|
Telephone |
|
(84-33) 3882193 |
|
Fax |
|
(84-33) 3881676 |
|
|
||
|
2.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT MONG CAI BRANCH |
||
|
Address |
|
No.24 Chu Van An Street, Hoa Lac Ward, Mong Cai District, Quang Ninh
Province, Vietnam |
|
Telephone |
|
(84-33) 3777 177 |
|
Fax |
|
(84-33) 3777 175 |
SHAREHOLDERS
This
is the list of foundation shareholders
|
||
|
1.
NAME |
|
Mr.
PHAM KHAC KIEN |
|
Position |
|
Chairman and General Director |
|
Date of Birth |
|
01 Nov 1974 |
|
ID Number/Passport |
|
B2554661 |
|
Issued on |
|
23 Sep 2009 |
|
Issued Place |
|
Quang Ninh Pollice |
|
Resident |
|
Group 10 - Block 1 Ka Long Ward, Mong Cai
District, Quang Ninh Province, Vietnam |
|
Email |
|
pham_khac_kien@yahoo.com |
|
Mobile phone |
|
+84 913264016 |
|
Number of Shares |
|
45,000 |
|
Value of shares |
|
4,500,000,000 VND |
|
Percentage |
|
45% |
|
|
||
|
2.
NAME |
|
Mr.
PHAM KHAC TRUNG |
|
Position |
|
Director Business |
|
ID Number/Passport |
|
100818764 |
|
Resident |
|
Group 10 - Block 1 Ka Long Ward, Mong Cai District,
Quang Ninh Province, Vietnam |
|
Mobile phone |
|
+84 913252636 |
|
Number of Shares |
|
15,000 |
|
Value of shares |
|
1,500,000,000 VND |
|
Percentage |
|
15% |
|
|
||
|
3.
NAME |
|
Ms.
PHAM THI HONG NGAN |
|
ID Number/Passport |
|
100877598 |
|
Resident |
|
Gruop 10 - Lane 1 Ka Long Ward, Mong Cai
District, Quang Ninh Province, Vietnam |
|
Number of Shares |
|
10,000 |
|
Value of shares |
|
1,000,000,000 VND |
|
Percentage |
|
10% |
FINANCIAL DATA
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
55,886,000,000 |
24,058,000,000 |
16,194,985,456 |
|
I. Cash and cash
equivalents |
30,961,000,000 |
952,000,000 |
3,478,454,368 |
|
1. Cash |
30,961,000,000 |
952,000,000 |
3,478,454,368 |
|
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 |
23,928,000,000 |
16,920,000,000 |
3,063,499,861 |
|
1. Receivable from customers |
23,200,000,000 |
16,920,000,000 |
3,063,499,861 |
|
2. Prepayments to suppliers |
0 |
0 |
0 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
728,000,000 |
0 |
0 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
997,000,000 |
6,149,000,000 |
9,617,576,299 |
|
1. Inventories |
997,000,000 |
6,149,000,000 |
9,617,576,299 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
0 |
37,000,000 |
35,454,928 |
|
1. Short-term prepaid expenses |
0 |
37,000,000 |
35,454,928 |
|
2. VAT to be deducted |
0 |
0 |
0 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
0 |
0 |
0 |
|
B. LONG-TERM
ASSETS |
2,094,000,000 |
2,558,000,000 |
3,020,592,705 |
|
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
|
2,057,000,000 |
2,558,000,000 |
3,020,592,705 |
|
1. Tangible assets |
2,057,000,000 |
2,558,000,000 |
3,020,592,705 |
|
- Historical costs |
3,479,000,000 |
3,479,000,000 |
3,479,091,930 |
|
- Accumulated depreciation |
-1,422,000,000 |
-921,000,000 |
-458,499,225 |
|
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 |
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 |
37,000,000 |
0 |
0 |
|
1. Long-term prepaid expenses |
37,000,000 |
0 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
57,980,000,000 |
26,616,000,000 |
19,215,578,161 |
|
LIABILITIES |
|||
|
A- LIABILITIES |
45,953,000,000 |
15,224,000,000 |
8,754,732,034 |
|
I. Current
liabilities |
45,953,000,000 |
14,931,000,000 |
7,105,874,034 |
|
1. Short-term debts and loans |
13,238,000,000 |
6,700,000,000 |
5,448,058,000 |
|
2. Payable to suppliers |
32,021,000,000 |
8,151,000,000 |
1,336,712,950 |
|
3. Advances from customers |
0 |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
694,000,000 |
80,000,000 |
321,103,084 |
|
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 |
0 |
0 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
0 |
293,000,000 |
1,648,858,000 |
|
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 |
0 |
0 |
|
4. Long-term debts and loans |
0 |
293,000,000 |
1,648,858,000 |
|
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 |
12,027,000,000 |
11,392,000,000 |
10,460,846,127 |
|
I. OWNER’S
EQUITY |
12,027,000,000 |
11,392,000,000 |
10,460,846,127 |
|
1. Capital |
10,000,000,000 |
10,000,000,000 |
10,000,000,000 |
|
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 |
0 |
1,392,000,000 |
460,846,127 |
|
11. Construction investment fund |
2,027,000,000 |
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 |
|
|
|
TOTAL LIABILITIES
AND OWNER’S EQUITY |
57,980,000,000 |
26,616,000,000 |
19,215,578,161 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sale |
578,371,000,000 |
223,151,000,000 |
481,967,082,042 |
|
2. Deduction item |
0 |
0 |
0 |
|
3. Net sale |
578,371,000,000 |
223,151,000,000 |
481,967,082,042 |
|
4. Costs of goods sold |
568,877,000,000 |
219,175,000,000 |
475,576,185,148 |
|
5. Gross profit |
9,494,000,000 |
3,976,000,000 |
6,390,896,894 |
|
6. Financial income |
194,000,000 |
0 |
0 |
|
7. Financial expenses |
5,514,000,000 |
525,000,000 |
429,340,854 |
|
- In which: Loan interest expenses |
240,000,000 |
0 |
0 |
|
8. Selling expenses |
2,603,000,000 |
881,000,000 |
4,426,683,540 |
|
9. Administrative overheads |
724,000,000 |
714,000,000 |
894,808,435 |
|
10. Net operating profit |
847,000,000 |
1,856,000,000 |
640,064,065 |
|
11. Other income |
0 |
0 |
0 |
|
12. Other expenses |
0 |
0 |
0 |
|
13. Other profit /(loss) |
0 |
0 |
0 |
|
14. Total accounting profit before tax |
847,000,000 |
1,856,000,000 |
640,064,065 |
|
15. Current corporate income tax |
212,000,000 |
465,000,000 |
179,217,938 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
635,000,000 |
1,391,000,000 |
460,846,127 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.22 |
1.61 |
2.28 |
1.94 |
|
Quick liquidity ratio |
1.19 |
1.20 |
0.93 |
0.98 |
|
Inventory circle |
570.59 |
27.80 |
49.45 |
9.29 |
|
Average receive period |
15.10 |
27.68 |
2.32 |
54.01 |
|
Utilizing asset performance |
9.98 |
8.38 |
25.08 |
2.21 |
|
Liability by total asset |
79.26 |
57.20 |
45.56 |
58.72 |
|
Liability by owner equity |
382.08 |
133.64 |
83.69 |
256.76 |
|
Ebit / Total asset (ROA) |
1.87 |
6.97 |
3.33 |
7.90 |
|
Ebit / Owner's equity (ROE) |
9.04 |
16.29 |
6.12 |
25.68 |
|
Ebit / Total sale (NPM) |
0.19 |
0.83 |
0.13 |
4.18 |
|
Gross profit / Total sale (GPM) |
1.64 |
1.78 |
1.33 |
15.30 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
||||
|
CASH
FLOW STATEMENT |
|
|
(Indirect method) |
|
|
Items |
FY2010 |
|
I. Cash flows
from operating activities |
|
|
1. Profit before tax |
847,000,000 |
|
2. Adjustments |
|
|
- Depreciation and amortization |
501,000,000 |
|
- Provisions |
0 |
|
- Unrealized foreign exchange difference |
0 |
|
- Gain/loss from investing activities |
0 |
|
- Interest expense |
240,000,000 |
|
3. Operating profit before movements in working
capital |
1,588,000,000 |
|
- (Increase)/Decrease in receivables |
-7,009,000,000 |
|
- (Increase)/Decrease in inventories |
5,152,000,000 |
|
- Increase/(Decrease) in accounts payable |
23,870,000,000 |
|
- (Increase)/Decrease in prepaid expenses |
0 |
|
- Interest paid |
-240,000,000 |
|
- Corporate income tax paid |
403,000,000 |
|
- Other cash inflows |
0 |
|
- Other cash outflows |
0 |
|
Net cash from (used in) operating activities |
23,764,000,000 |
|
II. Cash flows
from investing activities |
|
|
1. Acquisition of fixed assets and other long - term assets |
0 |
|
2. Proceeds from fixed assets and long - term assets disposal |
0 |
|
3. Cash outflow for lending, buying debt instruments of other
companies |
0 |
|
4. Cash recovered from lending, selling debt instruments of other
companies |
0 |
|
5. Investment in other entities |
0 |
|
6. Cash recovered from investments in other entities |
0 |
|
7. Interest income, dividend and profit paid |
0 |
|
Net cash from (used in) investing activities |
0 |
|
III. Cash flows
from financing activities |
|
|
1. Proceeds from issuing stocks, receiving capital from owners |
0 |
|
2. Capital withdrawal, buying back issued stocks |
0 |
|
3. Proceeds from borrowings |
6,245,000,000 |
|
4. Repayment of borrowings |
0 |
|
5. Repayment of obligations under finance leased |
0 |
|
6. Dividends paid |
0 |
|
Net cash from (used in) financing activities |
6,245,000,000 |
|
Net increase/(decrease) in cash and cash equivalents |
30,009,000,000 |
|
Cash and cash equivalents at beginning of year |
952,000,000 |
|
Effect from changing foreign exchange rate |
0 |
|
Cash and cash equivalents at end of year |
30,961,000,000 |
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
TT, L/C, C.A.D |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Well-known |
INTERPRETATION ON THE SCORES
|
The
subject is a Joint Stock Company that was founded in 2007 in Quang Ninh province.
Its head office is located at No. 03, Nguyen Van Cu Street, Ka Long Ward,
Mong Cai City, Quang Ninh Province, Viet Nam. It specializes in commercial
services, transport services, etc. Following to Mr. Toan in the Import-Export
Department the company imports cermets, rice seeds, fertilizer, steel, Maggie
oxide, etc from China, India, Malaysia and Singapore. It also exports plastic
beads, shell crab, sesame seeds to China, India and Singapore... Mr. Toan
also reveals: Currently, the company focuses on trading ores and the main
market is India. Currently,
the company is operating under the business registration No. 5700646493 which
is the same with the company's tax code. It has registered capital of VND 10
billion. Its labor force is about 30 employees in total. The
financial situation of the subject is above average. According to the figure
above, the company’s total asset increased with high growth rate. In 2010,
the company’s total asset was approximate VND 58 billion, increased more than
two times compare to 2009. The company’s current asset took a high rate in
total asset through years (above 90%). It is reasonable because the subject
operates in trading field. The figures above also show that the company’s
asset increased is due to the increase of current asset. The company’s
current asset went up from VND 24 billion in 2009 to VND 55.9 billion in
2010. The company is expanding its business scale. As a result, the company’s
total sale also increased. In 2010, its total sale was VND 578 billion while
that number in 2009 was only VND 223 billion. But the company’s profit after
tax had opposite change. It was down from 1.4 billion VND in 2009 to VND 0.6
billion in 2010. It made the company’s profitable ratios was lower than
average industry. In
general, the company has capacity to meet small financial commitments. Medium
and big financial commitments need caution. |
APPENDIXES
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed by
price compared with 1994 (%) |
Total enterprises
2009 |
Total employees
2010 (Thous.pers.) |
Annual average
capital of enterprises 2009 (billion dongs) |
||
|
2010 |
2009 |
|||||
|
Agriculture,
Forestry and Fishing |
2.78 |
1.82 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry and
Construction |
7.70 |
5.52 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade and
Services |
7.52 |
6.63 |
154,978 |
14,522 |
4,939,069 |
|
|
|
||||||
|
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 |
72.2 |
57.1 |
62.7 |
|||
|
Imports |
84.8 |
69.9 |
80.7 |
|||
|
Trade Balance |
-12.6 |
-12.8 |
-18 |
|||
Source: General Statistics
Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.90 |
|
UK Pound |
1 |
Rs.80.30 |
|
Euro |
1 |
Rs.68.48 |
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.