MIRA INFORM REPORT
|
Report Date : |
28.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
HIEP QUANG TRADING SERVICES COMPANY
LIMITED |
|
|
|
|
Registered Office : |
Unit 6.7C, Flr 6th, E-Town 2, 364 Cong Hoa
Str, Ward 13, Tan Binh District, Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
25.03.2010 |
|
|
|
|
Com. Reg. No.: |
0304208306 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading in agro and aqua products, materials
for aqua feed processing, aqua feed, car, motorbike, household appliances,
food, handicraft product |
|
|
|
|
No. of Employees
: |
60 Persons |
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
|
||
|
English Name |
|
HIEP QUANG TRADING SERVICES COMPANY
LIMITED |
|
Vietnamese Name |
|
CONG TY TNHH THUONG MAI DICH VU HIEP QUANG
|
|
Trade name |
|
HIEP QUANG CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2006 |
|
Business Registration No. |
|
0304208306 |
|
Date of Registration |
|
25 Mar 2010 |
|
Place of Registration |
|
Business Registration Office- Planning and
Investment Department of Hochiminh City |
|
Current registered capital |
|
20,000,000,000 VND |
|
Tax code |
|
0304208306 |
|
Total Employees |
|
60 |
|
Note: The given name “HIEP QUANG COMPANY LIMITED” is
not exactly. |
||
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 4102036767 which was issued on 15 Feb 2006 Changed to:
0304208306 |
25
Mar 2010 |
|
2 |
Subject has got former Registered capital:
10,000,000,000 VND Changed to: 20,000,000,000 VND |
25
Mar 2010 |
company ADDRESSES
|
Head Office |
||
|
Address |
|
Unit 6.7C, Flr 6th, E-Town 2, 364 Cong Hoa
Str, Ward 13, Tan Binh District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3812 5789 - 3812 5790 |
|
Fax |
|
(84-8) 3812 5788 |
|
Email |
|
|
|
Website |
|
|
|
Occupied Area |
|
400m2 |
|
Land-use Right |
|
Leased |
|
Notes: Former address: This address is also head
office of Hung Vuong Hiep Quang Corporation. Now the subject is a biggest
shareholder of Hung Vuong Hiep Quang Corporation. |
||
DIRECTORS
|
1.
NAME |
|
Mr.
TRAN VU KHANH |
|
Position |
|
General Director |
|
Date of Birth |
|
1975 |
|
ID Number/Passport |
|
024673025 |
|
ID Issue Place |
|
Police Station of HoChiMinh
City |
|
Resident |
|
22/22 C Lu Gia
Housing Compound, Ward 15, 11 District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Ms.
PHAM THI THANH DUYEN |
|
Position |
|
Director |
|
Date of Birth |
|
05 Jun 1977 |
|
ID Number/Passport |
|
022834057 |
|
Resident |
|
22/22C Lu Gia Housing
compound, Ward 15, 11 District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 903 783 003 / 918 264 655 |
|
Notes: Ms. Pham Thi Thanh Duyen is also managing
director of Hung Vuong Hiep Quang Corporation. |
||
|
|
||
|
3.
NAME |
|
Ms.
HUYNH THI THANH HUYEN |
|
Position |
|
Sale Manager |
|
Date of Birth |
|
01 Oct 1983 |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 916 239 515 |
|
|
||
|
4.
NAME |
|
Mr.
TRAN PHAN TRONG DANH |
|
Position |
|
Financial Manager |
|
Current resident |
|
Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 903 873737 |
|
Email |
|
trongdanh@hiepquang.com |
|
Qualification |
|
Bachelor |
BUSINESS NATURE AND ACTIVITIES
|
Subject
is specializing in: |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Material |
|
·
Market |
|
Singapore, Australia, Austria, Italy and India |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Product |
|
·
Market |
|
America and Mexico |
BANKERS
|
1.
NAM VIET COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No. 39 – 41 – 43 Chuong Duong Port, 1 District, Ho Chi Minh City,
Vietnam |
|
Telephone |
|
(84-8) 3821 6216 / 3914 2738 |
|
Fax |
|
(84-8) 3914 2738 |
|
|
||
|
2.
VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
5 Cong Hoa, Ward 4, Tan Binh District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3811 7534 |
|
Fax |
|
(84-8) 3811 6896 |
|
SWIFT Code |
|
TCCBVNVX |
|
|
||
|
3.
ASIA COMMERCIAL BANK PHAN DANG LUU BRANCH |
||
|
Address |
|
No.30A Phan Dang Luu, Binh Thanh District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3510 3623 |
|
Fax |
|
(84-8) 3510 3624 |
|
SWIFT Code |
|
ASCBVNVX |
|
|
||
|
4.
HSBC BANK (VIETNAM) LTD |
||
|
Address |
|
Floor 06th, The Metropolitan Building 235 Dong Khoi Street, 1
District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84 8) 3829 2288 |
|
Fax |
|
(84 8) 3299 0018 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
TRAN VU KHANH |
|
Position |
|
General Director |
|
Date of Birth |
|
1975 |
|
ID Number/Passport |
|
024673025 |
|
Issued Place |
|
Police Station of HoChiMinh City |
|
Resident |
|
22/22 C Lu Gia Housing Compound, Ward 15,
11 District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
10,000,000,000 VND |
|
Percentage |
|
50% |
|
|
||
|
2.
NAME |
|
Ms.
PHAM THI THANH DUYEN |
|
Position |
|
Director |
|
Date of Birth |
|
05 Jun 1977 |
|
ID Number/Passport |
|
022834057 |
|
Resident |
|
22/22C Lu Gia Housing compound, Ward 15,
11 District, Ho Chi Minh City, Vietnam |
|
Mobile phone |
|
++84 903 783 003 / 918 264 655 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
10,000,000,000 VND |
|
Percentage |
|
50% |
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 |
541,701,190,942 |
251,063,000,000 |
104,896,998,080 |
|
I. Cash and cash
equivalents |
8,286,721,943 |
13,457,000,000 |
6,678,471,847 |
|
1. Cash |
8,286,721,943 |
13,457,000,000 |
6,678,471,847 |
|
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 |
289,987,633,590 |
146,149,000,000 |
39,186,782,542 |
|
1. Receivable from customers |
210,321,459,285 |
56,398,000,000 |
22,961,332,128 |
|
2. Prepayments to suppliers |
55,285,879,194 |
83,907,000,000 |
15,816,570,052 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
24,380,295,111 |
5,844,000,000 |
408,880,362 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
227,009,539,195 |
69,749,000,000 |
56,605,225,500 |
|
1. Inventories |
227,009,539,195 |
69,749,000,000 |
56,605,225,500 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
16,417,296,214 |
21,708,000,000 |
2,426,518,191 |
|
1. Short-term prepaid expenses |
40,171,594 |
3,732,000,000 |
156,150,466 |
|
2. VAT to be deducted |
15,815,920,135 |
4,548,000,000 |
0 |
|
3. Taxes and other accounts receivable from the State |
53,444,113 |
407,000,000 |
2,270,367,725 |
|
4. Other current assets |
507,760,372 |
13,021,000,000 |
0 |
|
B. LONG-TERM
ASSETS |
19,360,710,878 |
33,358,000,000 |
2,456,181,363 |
|
I. Long term
account receivable |
0 |
0 |
147,295,000 |
|
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 |
147,295,000 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets
|
3,521,342,702 |
4,096,000,000 |
2,259,500,515 |
|
1. Tangible assets |
3,349,014,361 |
3,776,000,000 |
2,211,209,669 |
|
- Historical costs |
5,284,692,742 |
4,981,000,000 |
2,828,072,317 |
|
- Accumulated depreciation |
-1,935,678,381 |
-1,205,000,000 |
-616,862,648 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
172,328,341 |
320,000,000 |
48,290,846 |
|
- Initial costs |
535,262,580 |
535,000,000 |
99,349,660 |
|
- Accumulated amortization |
-362,934,239 |
-215,000,000 |
-51,058,814 |
|
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 |
15,445,987,298 |
28,605,000,000 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
15,445,987,298 |
28,405,000,000 |
0 |
|
3. Other long-term investments |
0 |
200,000,000 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
393,380,878 |
657,000,000 |
49,385,848 |
|
1. Long-term prepaid expenses |
253,200,878 |
517,000,000 |
49,385,848 |
|
2. Deferred income tax assets |
140,180,000 |
0 |
0 |
|
3. Other long-term assets |
0 |
140,000,000 |
0 |
|
TOTAL ASSETS |
561,061,901,820 |
284,421,000,000 |
107,353,179,443 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
526,264,431,164 |
267,249,000,000 |
104,578,735,588 |
|
I. Current
liabilities |
525,417,056,856 |
265,957,000,000 |
103,684,809,551 |
|
1. Short-term debts and loans |
97,256,628,680 |
149,686,000,000 |
46,210,140,797 |
|
2. Payable to suppliers |
333,833,235,891 |
88,002,000,000 |
33,081,788,658 |
|
3. Advances from customers |
55,022,157,146 |
4,126,000,000 |
23,259,478,613 |
|
4. Taxes and other obligations to the State Budget |
3,816,314,447 |
961,000,000 |
267,841,218 |
|
5. Payable to employees |
356,897,890 |
118,000,000 |
771,442,885 |
|
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 |
35,131,822,802 |
23,064,000,000 |
94,117,380 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
847,374,308 |
1,292,000,000 |
893,926,037 |
|
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 |
847,374,308 |
1,292,000,000 |
893,926,037 |
|
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 |
34,797,470,656 |
17,172,000,000 |
2,774,443,855 |
|
I. OWNER’S
EQUITY |
37,797,470,656 |
17,514,000,000 |
3,091,548,255 |
|
1. Capital |
20,000,000,000 |
10,000,000,000 |
5,000,000,000 |
|
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 |
48,334,767 |
535,000,000 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
14,749,135,889 |
6,979,000,000 |
-1,908,451,745 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
-342,000,000 |
-317,104,400 |
|
1. Bonus and welfare funds |
0 |
-342,000,000 |
-317,104,400 |
|
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 |
561,061,901,820 |
284,421,000,000 |
107,353,179,443 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sale |
1,057,831,792,825
|
881,884,000,000 |
484,345,949,235 |
|
2. Deduction item |
821,934,983 |
655,000,000 |
4,583,072,262 |
|
3. Net revenue |
1,057,009,857,842
|
881,229,000,000 |
479,762,876,973 |
|
4. Costs of goods sold |
978,450,308,518 |
807,702,000,000 |
457,138,058,403 |
|
5. Gross profit |
78,559,549,324 |
73,527,000,000 |
22,624,818,570 |
|
6. Financial income |
3,650,139,084 |
1,250,000,000 |
983,110,978 |
|
7. Financial expenses |
29,432,238,333 |
33,518,000,000 |
9,814,550,857 |
|
- In which: Loan interest expenses |
20,329,916,146 |
14,237,000,000 |
6,402,069,737 |
|
8. Selling expenses |
24,409,979,164 |
21,976,000,000 |
9,590,780,383 |
|
9. Administrative overheads |
15,017,828,699 |
13,690,000,000 |
10,380,180,284 |
|
10. Net operating profit |
13,349,642,212 |
5,593,000,000 |
-6,177,581,976 |
|
11. Other income |
5,674,981,701 |
4,955,000,000 |
376,659,807 |
|
12. Other expenses |
8,547,063,981 |
6,992,000,000 |
791,847,696 |
|
13. Other profit /(loss) |
-2,872,082,280 |
-2,037,000,000 |
-415,187,889 |
|
14. Total accounting profit before tax |
10,477,559,932 |
3,556,000,000 |
-6,592,769,865 |
|
15. Current corporate income tax |
2,619,389,983 |
622,000,000 |
642,738,495 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
18. Profit after tax |
7,858,169,949 |
2,934,000,000 |
-7,235,508,360 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.03 |
0.94 |
1.01 |
1.47 |
|
Quick liquidity ratio |
0.60 |
0.68 |
0.47 |
0.70 |
|
Inventory circle |
4.31 |
11.58 |
12.91 |
8.31 |
|
Average receive period |
100.14 |
60.53 |
29.81 |
28.57 |
|
Utilizing asset performance |
1.88 |
3.10 |
4.47 |
2.64 |
|
Liability by total asset |
93.80 |
93.96 |
97.42 |
58.07 |
|
Liability by owner equity |
1,512.36 |
1,556.31 |
3,769.36 |
182.19 |
|
Ebit / Total asset (ROA) |
5.49 |
6.26 |
-0.18 |
10.02 |
|
Ebit / Owner's equity (ROE) |
88.53 |
103.62 |
-6.87 |
25.93 |
|
Ebit / Total revenue (NPM) |
2.91 |
2.02 |
-0.04 |
3.82 |
|
Gross profit / Total revenue (GPM) |
7.43 |
8.34 |
4.67 |
8.54 |
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Uptrend |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
Direct payment or through its corresponding bank. (L/C) or (T/T) |
|
Sale Methods |
|
Retailer and Wholesaler |
INTERPRETATION ON THE SCORES
|
The
subject - HIEP QUANG TRADING SERVICE CO., LTD was established in 2006
under business registration No. 4102036767 and the original registered capital of VND 05
billion. Currently, the subject is operating under the Business Registration
No. 0304208306 and its current registration capital is VND 20 billion. The
subject is now locating at Unit 6.7C- 6th Floor-
E-Town 2 Building- 364 Cong Hoa Street- Ward 13 - Tan Binh District - Ho Chi
Minh City. This location is also
operation head office of HUNG VUONG HIEP QUANG CORPORATION. HUNG VUONG HIEP
QUANG CORPORATION is new established company on May 2009, operating under the
Business Registration No. 0308773186 with registration capital of VND 100
billion and it is specialized in trading foodstuff for animal; rice, corn and
grain, agricultural and forest material. The subject holds 45% shares of HUNG
VUONG HIEP QUANG CORPORATION. Now, two companies use the same transaction
office and have the same management board. The subject has just opened a
representative office in Hanoi City in July 2010 for expanding market share
purposes. The
subject specializes in trading many types of material for manufacturing food
and foodstuff for animal such as: oil-cake, supplementary energy material,
milk product for animal, material using in processing water environment,
amino acid, mineral substance, product used for manufacturing aqua-feed. Now
CP VIETNAM is one of large customers of the subject. The subject's products
are exported to EU, USA, Japan, Korea and Australia. The subject exports
about 200,000 - 300,000 tons/ a year for agricultural goods. It mainly
imports material and additive from Singapore, Australia, Malaysia, Argentina,
Italy and India to distribute to domestic producers of Vietnam. Its
premises and facilities are fair. Management capacity of the subject is
fairly good. The subject's owner has experiences and good relation with
partners and suppliers in this field. Its market share has developed. In
recent years, the subject has expanded its market shares as well as increased
competitive capacity with other competitors. At present, the subject is
concentrating on improving its operation efficiency and making profit instead
they follow to boost up revenue such years ago. According to Mr. Tran Phan
Trong Danh - Financial manager, the subject shares partly market shares with
Hung Vuong Hiep Quang – alliance of the subject. The subject has planned the
construction a warehouse in Vung Tau to store goods and reduce the costs of
warehousing. Subject
is in the progress of development. In overview, the subject's business status
is really busy now. The position in the industry of the subject is relative
with about 5 year of construction and development. The BB
credit estimate on this subject reflects that this subject is vulnerable with
changes in business environment especially at foodstuff field in Vietnam;
however, with speed of development so fast, this subject has capacity to meet
with all small - medium business transactions. |
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.52.17 |
|
UK Pound |
1 |
Rs.80.64 |
|
Euro |
1 |
Rs.69.43 |
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 |
|
---- |
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.