MIRA INFORM REPORT
|
Report Date : |
28.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
VINA COMPANY LIMITED |
|
|
|
|
Registered Office : |
64 Highway 51 Phuoc Tan Commune, Bien Hoa
City, Dong Nai Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1997 |
|
|
|
|
Com. Reg. No.: |
3600364780 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing Animal Feed Products |
|
|
|
|
No. of Employees
: |
450 Persons |
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 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 Registered Name |
|
VINA COMPANY LIMITED |
|
Vietnamese Registered Name |
|
CONG TY TNHH VINA |
|
Short name |
|
VINA CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
1997 |
|
Business Registration No. |
|
3600364780 |
|
Date of Registration |
|
24 Jun 2010 |
|
Place of Registration |
|
Planning and Investment Department of Dong
Nai Province |
|
Current registered capital |
|
120,000,000,000 VND |
|
Status |
|
Unlisted |
|
Tax code |
|
3600364780 |
|
Total Employees |
|
450 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 052827 issued on 15 Jul 1997 Changed to: 3600364780 |
24
Jun 2010 |
companu ADDRESSES
|
Head Office |
||
|
Address |
|
64 Highway 51 Phuoc Tan Commune, Bien Hoa
City, Dong Nai Province, Vietnam |
|
Telephone |
|
(84-61) 3930402/ 3930601/ 3930798 |
|
Fax |
|
(84-61) 3930403 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Representative
office in Dong Nai |
||
|
Address |
|
C23 Street 3 Long Binh, Bien Hoa City,
Dong Nai Province, Vietnam |
SUBSIDIARIES AND RELATED COMPANIES
|
1. VINA FOOD
BREEDING JOINT STOCK COMPANY |
||
|
Business Registration |
|
0403000061 |
|
Date of Registration |
|
06 Jun 2003 |
|
Place of Registration |
|
Hai Duong Planning and Investment Department |
|
Registered Capital |
|
37,000,000,000 VND |
|
Tax code |
|
0800282233 |
|
Address |
|
Nam Sach Industrial Zone Ai Quoc Commune, Hai Duong City, Hai Duong
Province, Vietnam |
|
Tel |
|
(84-320) 3752 664 |
|
Fax |
|
(84-320) 3852 563 |
|
|
||
|
2. VINA AQUATIC
FEEDS JOINT STOCK COMPANY |
||
|
Address |
|
A1-2 Sa Dec Industry Zone, Sa Dec District, Dong Thap Province,
Vietnam |
|
Tel |
|
(84-67) 376 1055 |
DIRECTORS
|
1.
NAME |
|
Mr.
PHAM DUC NGU |
|
Position |
|
General Director |
|
Date of Birth |
|
26 Jan 1982 |
|
ID Number/Passport |
|
271566567 |
|
ID Issue Date |
|
20 Dec 2006 |
|
ID Issue Place |
|
Police station of
Dong Nai Province |
|
Resident |
|
C26, KP3 Long Binh
Ward, Bien Hoa City, Dong Nai Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
++84 903 004 260 |
|
Email |
|
pdngu@vinafeed.com |
|
|
||
|
2.
NAME |
|
Ms.
DO THI MINH TUYET |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
270720457 |
|
Resident |
|
C26, KP3 Long Binh
Ward, Bien Hoa City, Dong Nai Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
3.
NAME |
|
Mr.
HO DANG LINH |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84-61) 3930723 |
|
Email |
|
hdlinh@vinafeed.com |
|
|
||
|
4.
NAME |
|
Mr.
TRAN HOANG THIEN |
|
Position |
|
Admin Manager |
|
Tel/Mobil phone |
|
(84-61) 3930798 |
BUSINESS NATURE AND ACTIVITIES
|
The subject specializes in |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Materials for production |
|
·
Market |
|
India, Argentina, China, Holland, Singapore, Malaysia, Philippine,
Indonesia, USA, Brazil, Peru, etc. |
|
·
Mode of payment |
|
T/T, L/C |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
The subject does not export |
BANKERS
|
1.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM DONG NAI BRANCH |
||
|
Address |
|
No 77C Hung Dao Vuong,Trung Dung Ward, Bien Hoa City, Dong Nai
Province, Vietnam |
|
Telephone |
|
(84-61) 3823666 |
|
Fax |
|
(84-61) 3824191 |
|
|
||
|
2.
SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK DONG NAI BRANCH |
||
|
Address |
|
No.87 - 89 30/4 str, Thanh Binh ward, Bien Hoa City, Dong Nai
Province, Vietnam |
|
Telephone |
|
(84-61) 3946067 |
|
Fax |
|
(84-61) 3946068 |
|
|
||
|
3.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT DONG NAI BRANCH |
||
|
Address |
|
No. 121-123 30/4 Str., Bien Hoa City, Dong Nai Province, Vietnam |
|
Telephone |
|
(84-61) 3 822 543 |
|
Fax |
|
(84-61) 3 822 585 |
|
VND Account |
|
5900211000340 |
|
|
||
|
4.
VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK DONG NAI BRANCH |
||
|
Address |
|
No.881 Highway 15, Tam Hiep Ward, Bien Hoa City, Dong Nai Province,
Vietnam |
|
Telephone |
|
(84-61) 3915185 |
|
Fax |
|
(84-61) 3915187 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
PHAM DUC NGU |
|
Position |
|
General Director |
|
Date of Birth |
|
26 Jan 1982 |
|
ID Number/Passport |
|
271566567 |
|
Issued on |
|
20 Dec 2006 |
|
Issued Place |
|
Police station of Dong Nai Province |
|
Resident |
|
C26, KP3 Long Binh Ward, Bien Hoa City,
Dong Nai Province, Vietnam |
|
Email |
|
pdngu@vinafeed.com |
|
Mobile phone |
|
++84 903 004 260 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
24,000,000,000 VND |
|
Percentage |
|
20% |
|
|
||
|
2.
NAME |
|
Ms.
DO THI MINH TUYET |
|
Position |
|
Deputy General Director |
|
ID Number/Passport |
|
270720457 |
|
Resident |
|
C26, KP3 Long Binh Ward, Bien Hoa City,
Dong Nai Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
30,640,000,000 VND |
|
Percentage |
|
25.53% |
|
|
||
|
3.
NAME |
|
Mr.
PHAM DUC NGON |
|
ID Number/Passport |
|
271437027 |
|
Resident |
|
C26, KP3 Long Binh Ward, Bien Hoa City,
Dong Nai Province, Vietnam |
|
Mobile phone |
|
++84 903 015 125 |
|
Value of shares |
|
24,000,000,000 VND |
|
Percentage |
|
20% |
|
|
||
|
4.
NAME |
|
Mr.
PHAM DUC VINH |
|
ID Number/Passport |
|
270720343 |
|
Resident |
|
C26, KP3 Long Binh Ward, Bien Hoa City,
Dong Nai Province, Vietnam |
|
Value of shares |
|
41,360,000,000 VND |
|
Percentage |
|
34.47% |
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 |
247,425,349,094 |
214,448,000,000 |
142,134,000,000 |
|
I. Cash and cash
equivalents |
25,408,810,570 |
37,071,000,000 |
29,851,000,000 |
|
1. Cash |
25,408,810,570 |
37,071,000,000 |
29,851,000,000 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
10,000,000,000 |
|
1. Short-term investments |
0 |
0 |
10,000,000,000 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
64,682,643,147 |
59,044,000,000 |
38,091,000,000 |
|
1. Receivable from customers |
57,477,995,352 |
52,744,000,000 |
35,981,000,000 |
|
2. Prepayments to suppliers |
6,155,479,385 |
3,809,000,000 |
1,713,000,000 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
1,049,168,410 |
2,491,000,000 |
397,000,000 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
129,871,069,802 |
112,374,000,000 |
64,177,000,000 |
|
1. Inventories |
129,871,069,802 |
112,374,000,000 |
64,177,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
27,462,825,575 |
5,959,000,000 |
15,000,000 |
|
1. Short-term prepaid expenses |
27,276,696,905 |
4,571,000,000 |
15,000,000 |
|
2. VAT to be deducted |
0 |
1,387,000,000 |
0 |
|
3. Taxes and other accounts receivable from the State |
0 |
1,000,000 |
0 |
|
4. Other current assets |
186,128,670 |
0 |
0 |
|
B. LONG-TERM
ASSETS |
48,074,865,502 |
37,330,000,000 |
37,400,000,000 |
|
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
|
45,869,460,321 |
35,433,000,000 |
35,875,000,000 |
|
1. Tangible assets |
44,673,547,694 |
32,903,000,000 |
34,583,000,000 |
|
- Historical costs |
120,549,168,078 |
102,575,000,000 |
98,549,000,000 |
|
- Accumulated depreciation |
-75,875,620,384 |
-69,672,000,000 |
-63,966,000,000 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
1,170,492,836 |
1,204,000,000 |
1,237,000,000 |
|
- Initial costs |
1,408,537,470 |
1,409,000,000 |
1,409,000,000 |
|
- Accumulated amortization |
-238,044,634 |
-205,000,000 |
-172,000,000 |
|
4. Construction-in-progress |
25,419,791 |
1,326,000,000 |
55,000,000 |
|
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 |
2,205,405,181 |
1,897,000,000 |
1,525,000,000 |
|
1. Long-term prepaid expenses |
2,205,405,181 |
1,897,000,000 |
1,525,000,000 |
|
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 |
295,500,214,596 |
251,778,000,000 |
179,534,000,000 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
151,723,952,921 |
111,750,000,000 |
48,570,000,000 |
|
I. Current
liabilities |
151,723,952,921 |
111,750,000,000 |
48,570,000,000 |
|
1. Short-term debts and loans |
96,869,966,640 |
50,562,000,000 |
0 |
|
2. Payable to suppliers |
52,111,285,430 |
55,121,000,000 |
44,400,000,000 |
|
3. Advances from customers |
740,769,381 |
403,000,000 |
527,000,000 |
|
4. Taxes and other obligations to the State Budget |
-2,493,780,293 |
1,948,000,000 |
1,668,000,000 |
|
5. Payable to employees |
4,490,147,577 |
3,642,000,000 |
1,973,000,000 |
|
6. Accrued expenses |
0 |
0 |
0 |
|
7. Inter-company payable |
0 |
74,000,000 |
2,000,000 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
5,564,186 |
0 |
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 |
143,776,261,675 |
140,028,000,000 |
130,964,000,000 |
|
I. OWNER’S
EQUITY |
143,715,661,053 |
139,795,000,000 |
130,611,000,000 |
|
1. Capital |
120,000,000,000 |
120,000,000,000 |
120,000,000,000 |
|
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 |
6,897,923 |
-926,000,000 |
0 |
|
7. Business promotion fund |
0 |
2,275,000,000 |
2,275,000,000 |
|
8. Financial reserved fund |
977,442,069 |
248,000,000 |
1,523,000,000 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
22,731,321,061 |
18,198,000,000 |
6,813,000,000 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
60,600,622 |
233,000,000 |
353,000,000 |
|
1. Bonus and welfare funds |
60,600,622 |
233,000,000 |
353,000,000 |
|
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 |
295,500,214,596 |
251,778,000,000 |
179,534,000,000 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sale |
1,428,788,003,685
|
973,804,000,000 |
853,973,000,000 |
|
2. Deduction item |
59,656,873,740 |
0 |
189,000,000 |
|
3. Net sale |
1,369,131,129,945
|
973,804,000,000 |
853,784,000,000 |
|
4. Costs of goods sold |
1,297,529,254,511 |
910,036,000,000 |
792,009,000,000 |
|
5. Gross profit |
71,601,875,434 |
63,768,000,000 |
61,775,000,000 |
|
6. Financial income |
501,672,108 |
489,000,000 |
422,000,000 |
|
7. Financial expenses |
15,006,468,783 |
1,503,000,000 |
5,357,000,000 |
|
- In which: Loan interest expenses |
12,577,746,613 |
1,494,000,000 |
4,686,000,000 |
|
8. Selling expenses |
8,375,969,682 |
6,569,000,000 |
5,887,000,000 |
|
9. Administrative overheads |
16,982,369,251 |
15,491,000,000 |
10,820,000,000 |
|
10. Net operating profit |
31,738,739,826 |
40,694,000,000 |
40,133,000,000 |
|
11. Other income |
2,924,572,312 |
3,267,000,000 |
1,656,000,000 |
|
12. Other expenses |
8,458,339 |
1,948,000,000 |
579,000,000 |
|
13. Other profit /(loss) |
2,916,113,973 |
1,319,000,000 |
1,077,000,000 |
|
14. Total accounting profit before tax |
34,654,853,799 |
42,013,000,000 |
41,210,000,000 |
|
15. Current corporate income tax |
9,073,663,392 |
9,966,000,000 |
4,358,000,000 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
25,581,190,407 |
32,047,000,000 |
36,852,000,000 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.63 |
1.92 |
2.93 |
1.47 |
|
Quick liquidity ratio |
0.77 |
0.91 |
1.61 |
0.70 |
|
Inventory circle |
10.71 |
10.31 |
12.34 |
8.31 |
|
Average receive period |
17.24 |
22.13 |
16.28 |
28.57 |
|
Utilizing asset performance |
4.63 |
3.87 |
4.76 |
2.64 |
|
Liability by total asset |
51.34 |
44.38 |
27.05 |
58.07 |
|
Liability by owner equity |
105.53 |
79.81 |
37.09 |
182.19 |
|
Ebit / Total asset (ROA) |
15.98 |
17.28 |
25.56 |
10.02 |
|
Ebit / Owner's equity (ROE) |
32.85 |
31.07 |
35.04 |
25.93 |
|
Ebit / Total sale (NPM) |
3.31 |
4.47 |
5.37 |
3.82 |
|
Gross profit / Total sale (GPM) |
5.01 |
6.55 |
7.23 |
8.54 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
||||
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Negative |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Through its bank, L.C at sight |
|
Sale Methods |
|
Retailer and Wholesaler |
INTERPRETATION ON THE SCORES
|
VINA
CO., LTD was founded in 1997 in Dong Nai Province under the business
registration No. 052827. After many adjustments, the subject operates
according to the business code which same the tax code No. 3600354780 with
the registered capital of VND 120 billion. Currently,
the subject is considered a large company in the industry with total
employees of above 450 people. The head office and factory are located at No.
64 Highway 51 Phuoc Tan commune, Bien Hoa City, Dong Nai Province. The
management capacity is relative good and the business activities are stable. The
subject supplies product under nine brands, they are Vina, Alpha, Happy,
Lucky, Dong A, Quang Vinh, Dong Tam, Toan Thang, Binh Tay. The subject
imports materials and machinery from India, Argentina, China, Netherland,
Singapore, the USA, Brazil, etc. It provides products to domestic market
only. Liabilities
grew up from VND 48.5 billion in 2008 to VND 151.7 billion in 2010, equals to
212%, in which the growth rate of the year 2009 was 130.08% and 35.77% in the
year 2010. The company had not long-term liabilities. The current liabilities
mainly come from the short-term debts and loans and payable to suppliers. The
growth rate of short-term debts and loans in 2010 was relative high, 91.59%. However,
the liabilities of the company were controlled at average. The current assets
can cover the current liabilities. Although the liquidity ratios had
downtrend, but they were still acceptable. Regarding
income statement, total sales of Vina Co., Ltd in 2010 grew up about 46.72%
compared with 2009. However the expenses in this year increased too high,
special the financial expenses up approximately ten times, thus the profit
after tax only reached VND 25.5 billion, down 20.18% compared with 2009. This
problem affected to the profitability ratios, but they were relative high in
compared with the industry average, especial in ROA and ROE. As one
of the first enterprises in the field of manufacturing feed, this is taking
subject’s advantages to develop firmly and largely. Future prospect of the
subject seems bright and fair. |
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.