MIRA INFORM REPORT
|
Report Date : |
13.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
OPV PHARMACEUTICAL JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
No 27 Road 3A, Bien Hoa II Industrial Zone - Bien Hoa City - Dong Nai Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
19.07.2007 |
|
|
|
|
Com. Reg. No.: |
472033000196 |
|
|
|
|
Legal Form : |
Foreign Invested Company |
|
|
|
|
Line of Business : |
The company is specialized in manufacturing and trading pharmaceutical, nutrition foods, personal healthcare and skincare products. |
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 |
|
Maximum Credit Limit : |
USD 95,195 |
|
|
|
|
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 Name |
|
OPV PHARMACEUTICAL JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN DUOC PHAM OPV |
|
Trade name |
|
OPV PHARMACEUTICAL., JSC |
|
Type of Business |
|
Foreign invested company |
|
Year Established |
|
1995 |
|
Business Registration No. |
|
472033000196 |
|
Date of Registration |
|
19 Jul 2007 |
|
Place of Registration |
|
Dong Nai Industrial Zones Authority |
|
Registered Investment Capital |
|
23,875,000 USD |
|
Chartered capital |
|
14,469,052 USD |
|
Investment Duration |
|
35 years |
|
Status |
|
Unlisted |
|
Tax code |
|
3600447130 |
|
Total Employees |
|
350 |
|
Size |
|
Large |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered English Name:
OPV PHARMACEUTICAL COMPANY LIMITED Changed to: OPV PHARMACEUTICAL JOINT STOCK
COMPANY |
19
Jul 2007 |
|
2 |
Subject has got former Registered
Vietnamese Name: CONG TY DUOC PHAM OPV Changed to: CONG TY CO PHAN DUOC PHAM
OPV |
19
Jul 2007 |
|
3 |
Subject has got former Trade Name: OPV
VIETNAM CO., LTD Changed to: OPV PHARMACEUTICAL., JSC |
19
Jul 2007 |
|
4 |
Subject has got former Chartered capital:
8,400,000 USD Changed to: 14,469,052 USD |
19
Jul 2007 |
Company ADDRESSES
|
Head Office |
||
|
Address |
|
No 27 Road 3A, Bien Hoa II Industrial Zone
- Bien Hoa City - Dong Nai Province - Vietnam |
|
Telephone |
|
(84-61) 3 992 999/ 3892353 |
|
Fax |
|
(84-61) 3 992 088 / 3 892 344 |
|
Email |
|
|
|
Website |
|
|
|
Occupied Area |
|
50,000 m2 |
|
Land-use Right |
|
Leased |
|
|
||
|
Representative office
in Ha Noi |
||
|
Address |
|
4th Floor, King Building, No 7 Chua Boc
Street - Dong Da District - Ha Noi City - Vietnam |
|
Telephone |
|
(84-4) 3734 2774 / (84-4) 3734 2775 |
|
Fax |
|
(84-4) 3734 2773. |
|
Email |
|
|
|
Website |
|
|
SUBSIDIARIES AND RELATED COMPANIES
|
1. OTSUKA OPV
COMPANY LIMITED |
||
|
Business Registration |
|
472023000635 |
|
Date of Registration |
|
19 Aug 2008 |
|
Place of Registration |
|
Ministry of Planning and Investment |
|
Registered Capital |
|
10,150,000 USD |
|
Tax code |
|
3600627535 |
|
Address |
|
No. 27 - 3A Road Bien Hoa II Industrial Zone - Bien Hoa City - Dong
Nai Province - Vietnam |
|
Tel |
|
(84-61) 399 2077 |
|
Fax |
|
(84-61) 399 2088 |
DIRECTORS
|
1.
NAME |
|
Ms.
NGUYEN CAO THANG |
|
Position |
|
Chairwoman |
|
Resident |
|
Ho Chi Minh City -
Vietnam |
|
Nationality |
|
Vietnamese American |
|
|
||
|
2.
NAME |
|
Ms.
HA TRUONG BICH TUY |
|
Position |
|
General Director |
|
Date of Birth |
|
23 Jul 1942 |
|
ID Number/Passport |
|
Z8022757 |
|
Resident |
|
No. 1265 Beacon
Street, #801 Brooline, MA 02446 - New
York - United States of America |
|
Nationality |
|
Vietnamese American |
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN CAO PHONG |
|
Position |
|
Vice General Director |
|
Current resident |
|
Dong Nai Province - Vietnam |
|
Qualification |
|
Pharmacist |
|
|
||
|
4.
NAME |
|
Mr.
NGUYEN CAO HUNG |
|
Position |
|
Vice General Director |
|
Date of Birth |
|
15 Nov 1963 |
|
Current resident |
|
Dong Nai Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
5.
NAME |
|
Mr.
TRAN DUONG CHIEN THANG |
|
Position |
|
Manager |
|
Email |
|
tran.duong.chien.thang@opv.com.vn |
|
|
||
|
6.
NAME |
|
Ms.
TRAN THI TY |
|
Position |
|
Chief Accountant |
|
Date of Birth |
|
01 Nov 1950 |
BUSINESS NATURE AND ACTIVITIES
The company is specialized in manufacturing and
trading pharmaceutical, nutrition foods, personal healthcare and skincare
products.
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Equipments, machines and materials |
|
·
Market |
|
China, US, France, Germany, Japan, Netherlands, Italy,
India, The East Middle, and Africa. |
|
·
Mode of payment |
|
L/C, T/T |
|
|
||
|
EXPORT: |
||
|
Notes: The subject does not export. |
||
BANKERS
|
1.
BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM- HCM CITY BRANCH |
||
|
Address |
|
134 Nguyen Cong Tru - 1 District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 38230125, 38297384 |
|
Fax |
|
(84-8) 38298862 |
|
VND Account |
|
310.10.0000.13371 |
|
SWIFT Code |
|
BIDVVNVX310 |
|
|
||
|
2.
HONGKONG SHANGHAI BANK CORPORATION (HSBC) – HO CHI MINH BRANCH |
||
|
Address |
|
6 Floor, No. 235 Dong Khoi Str., Ben Nghe ward - 1 District - Ho Chi
Minh City - Vietnam |
|
Telephone |
|
(84-8) 38292288 |
|
|
||
|
3.
SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK HOCHIMINH CITY BRANCH |
||
|
Address |
|
No. 6-8 Pho Duc Chinh Str - 1 District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 39144514 |
|
Fax |
|
(84-8) 39144516 |
SHAREHOLDERS
|
1.
NAME |
|
OPV
INTERNATIONAL INC |
|
Address |
|
No. 40 Central Park South - Suite 12H - New
York - NY 10019 United States of America |
|
Value of shares |
|
45,793,780,000 VND |
|
Percentage |
|
21.25% |
|
|
||
|
2.
NAME |
|
OPV
OVERSEAS SINGAPORE PTE. LTD |
|
Address |
|
# 02-01, 341 Bukit Timah Road - Singapore |
|
Value of shares |
|
18,317,510,000 VND |
|
Percentage |
|
8.5% |
|
|
||
|
3.
NAME |
|
VIETNAM
STRATEGIC PARTNERS LTD |
|
Value of shares |
|
119,063,820,000 VND |
|
Percentage |
|
55.25% |
|
|
||
|
4.
NAME |
|
DARWELL
INVESTMENT LIMITED |
|
Business Registration |
|
1374103 |
|
Address |
|
British Virgin Islands |
|
Value of shares |
|
32,325,020,000 VND |
|
Percentage |
|
15% |
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 |
99,206,234,417
|
110,287,576,526
|
90,034,935,442
|
|
I. Cash and cash
equivalents |
10,164,374,049
|
11,201,956,296
|
7,299,822,598
|
|
1. Cash |
10,164,374,049 |
11,201,956,296 |
7,299,822,598 |
|
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 |
30,973,836,479
|
45,736,614,624
|
38,829,007,061
|
|
1. Receivable from customers |
26,152,968,946 |
32,804,331,280 |
29,907,717,861 |
|
2. Prepayments to suppliers |
2,927,950,806 |
4,956,267,933 |
1,283,878,751 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
4,686,993,406 |
8,956,999,975 |
8,646,404,837 |
|
6. Provisions for bad debts |
-2,794,076,679 |
-980,984,564 |
-1,008,994,388 |
|
IV. Inventories |
51,576,119,998
|
45,432,988,634
|
39,486,685,324
|
|
1. Inventories |
53,915,060,069 |
47,891,595,020 |
40,897,677,098 |
|
2. Provisions for devaluation of inventories |
-2,338,940,071 |
-2,458,606,386 |
-1,410,991,774 |
|
V. Other Current
Assets |
6,491,903,891
|
7,916,016,972
|
4,419,420,459
|
|
1. Short-term prepaid expenses |
1,258,819,842 |
2,582,851,687 |
2,117,429,596 |
|
2. VAT to be deducted |
0 |
891,745,105 |
0 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
5,233,084,049 |
4,441,420,180 |
2,301,990,863 |
|
B. LONG-TERM
ASSETS |
103,679,845,078
|
114,745,986,505
|
127,246,311,292
|
|
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
|
94,693,880,029
|
101,247,562,545
|
109,498,881,473
|
|
1. Tangible assets |
94,585,733,745 |
100,784,728,420 |
108,572,531,770 |
|
- Historical costs |
153,128,568,511 |
150,435,147,111 |
149,784,792,534 |
|
- Accumulated depreciation |
-58,542,834,766 |
-49,650,418,691 |
-41,212,260,764 |
|
2. Financial leasehold assets |
0 |
248,840,953 |
622,102,381 |
|
- Historical costs |
1,119,784,285 |
1,119,784,285 |
1,119,784,285 |
|
- Accumulated depreciation |
-1,119,784,285 |
-870,943,332 |
-497,681,904 |
|
3. Intangible assets |
105,846,882 |
211,693,770 |
0 |
|
- Initial costs |
609,176,245 |
609,176,245 |
397,482,475 |
|
- Accumulated amortization |
-503,329,363 |
-397,482,475 |
-397,482,475 |
|
4. Construction-in-progress |
2,299,402 |
2,299,402 |
304,247,322 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
7,042,034,162
|
12,582,061,499
|
16,842,337,499
|
|
1. Investments in affiliates |
65,303,971,346 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
52,051,571,346 |
52,051,571,346 |
|
3. Other long-term investments |
0 |
12,558,700,000 |
11,883,900,000 |
|
4. Provisions for devaluation of long-term investments |
-58,261,937,184 |
-52,028,209,847 |
-47,093,133,847 |
|
V. Other
long-term assets |
1,943,930,887
|
916,362,461
|
905,092,320
|
|
1. Long-term prepaid expenses |
952,394,537 |
0 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
991,536,350 |
916,362,461 |
905,092,320 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
202,886,079,495
|
225,033,563,031
|
217,281,246,734
|
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
189,535,429,178
|
197,500,840,072
|
192,536,582,874
|
|
I. Current
liabilities |
99,708,339,576
|
143,936,934,767
|
112,888,551,739
|
|
1. Short-term debts and loans |
36,370,716,749 |
72,124,903,354 |
52,510,503,162 |
|
2. Payable to suppliers |
36,511,366,192 |
33,209,143,466 |
18,268,796,080 |
|
3. Advances from customers |
8,882,238,467 |
5,212,227,023 |
3,023,705,378 |
|
4. Taxes and other obligations to the State Budget |
604,626,124 |
1,035,771,413 |
897,497,249 |
|
5. Payable to employees |
2,455,789,488 |
2,406,024,154 |
4,258,260,928 |
|
6. Accrued expenses |
4,236,763,751 |
5,275,440,536 |
7,425,176,417 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
10,646,838,805 |
24,673,424,821 |
26,504,612,525 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
89,827,089,602
|
53,563,905,305
|
79,648,031,135
|
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
45,926,859,000 |
51,637,971,000 |
51,637,971,000 |
|
4. Long-term debts and loans |
42,334,862,066 |
137,197,518 |
26,413,132,322 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
1,565,368,536 |
1,788,736,787 |
1,596,927,813 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
13,350,650,317
|
27,532,722,959
|
24,744,663,860
|
|
I. OWNER’S
EQUITY |
13,350,650,317
|
27,532,722,959
|
24,744,663,860
|
|
1. Capital |
215,500,130,000 |
215,500,130,000 |
215,500,130,000 |
|
2. Share premiums |
48,499,980,000 |
48,499,980,000 |
48,499,980,000 |
|
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 |
-2,834,116,298 |
-1,114,411,573 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
-247,815,343,385 |
-235,352,975,468 |
-239,255,446,140 |
|
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 |
202,886,079,495
|
225,033,563,031
|
217,281,246,734
|
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sale |
176,020,447,215
|
164,389,801,446
|
134,038,208,702
|
|
2. Deduction item |
10,835,636,463 |
1,030,401,558 |
1,030,747,164 |
|
3. Net sale |
165,184,810,752
|
163,359,399,888
|
133,007,461,538
|
|
4. Costs of goods sold |
103,387,702,812 |
99,908,503,736 |
73,697,697,453 |
|
5. Gross profit |
61,797,107,940
|
63,450,896,152
|
59,309,764,085
|
|
6. Financial income |
1,670,758,421 |
770,582,109 |
2,486,351,339 |
|
7. Financial expenses |
17,496,585,494 |
13,440,670,900 |
16,403,264,029 |
|
- In which: Loan interest expenses |
7,382,068,777 |
6,935,495,501 |
10,115,477,078 |
|
8. Selling expenses |
28,351,983,034 |
26,488,468,589 |
31,290,869,166 |
|
9. Administrative overheads |
25,185,931,746 |
19,959,782,286 |
21,036,657,696 |
|
10. Net operating profit |
-7,566,633,913
|
4,332,556,486
|
-6,934,675,467
|
|
11. Other income |
865,901,578 |
43,872,163 |
318,465,559 |
|
12. Other expenses |
1,038,524,503 |
473,957,979 |
19,868,430 |
|
13. Other profit /(loss) |
-172,622,925
|
-430,085,816
|
298,597,129
|
|
14. Total accounting profit before tax |
-7,739,256,838
|
3,902,470,670
|
-6,636,078,338
|
|
15. Current corporate income tax |
0 |
0 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
-7,739,256,838
|
3,902,470,670
|
-6,636,078,338
|
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.00 |
0.77 |
0.80 |
1.74 |
|
Quick liquidity ratio |
0.48 |
0.45 |
0.45 |
1.02 |
|
Inventory circle |
2.00 |
2.35 |
2.01 |
3.74 |
|
Average receive period |
68.44 |
102.19 |
106.55 |
76.97 |
|
Utilizing asset performance |
0.81 |
0.73 |
0.61 |
1.31 |
|
Liability by total asset |
93.42 |
87.77 |
88.61 |
49.32 |
|
Liability by owner equity |
1,419.67 |
717.33 |
778.09 |
129.21 |
|
Ebit / Total asset (ROA) |
-0.18 |
4.82 |
1.60 |
8.55 |
|
Ebit / Owner's equity (ROE) |
-2.68 |
39.36 |
14.06 |
18.02 |
|
Ebit / Total sale (NPM) |
-0.20 |
6.59 |
2.60 |
6.82 |
|
Gross profit / Total sale (GPM) |
35.11 |
38.60 |
44.25 |
21.89 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Good |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C, T/T |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Good |
INTERPRETATION ON THE SCORES
|
OPV PHARMACEUTICAL
JOINT STOCK COMPANY is a foreign invested company. In 1995, the subject was
founded with the name OPV PHARMACEUTICAL COMPANY LIMITED. Then on 19th July
2007, the firm changed the name into current name. OPV is large-scale company
with the registered investment capital of 23,875,000 USD in which the
registered capital is about 14,469,052 USD. The large-scale operation is also
illustrated through the production base of 18,000 meter square. Headquarter
of the firm is located at No 27 Road 3A, Bien Hoa II Industrial Zone - Bien
Hoa City - Dong Nai Province – Vietnam. Besides, it has one representative
office at 4th Floor, King Building, No 7, Chua Boc Street, Dong Da District,
Ha Noi, Viet Nam. The company is specialized in manufacturing and trading
pharmaceutical, nutrition foods, personal healthcare and skincare products.
Most of the inputs are imported from China, US, France, Germany, Japan,
Netherlands, Italy, India, The East Middle, and Africa. Finished products are
distributed domestically. OPV manufacturing facilities are safe and modern.
OPV manufacturing facilities is the "closed system" which minimizes
risks of contamination. Equipment, including process and utility equipment,
has been selected to meet the high standards of quality and efficiency, from
top-of-the-line equipment manufacturers from Germany, Sweden, Italy, Denmark,
and the USA. Although
in 2010 the firm had growth in total sale, profit after tax was negative.
Total sale increased 7.07% but profit after tax reduced 298.3%. The reason
for bad profit result is higher amount of expenses such as costs of goods
sold, selling expenses, administrative overheads and other expenses. Despite
the decrease in total liability, liability by owner equity ratio was very
high in 2010 due to sharp reduction in owner’s equity which was mainly caused
by minus retain earning. Negative profit in 2010 made profitability ratios
such as ROE, ROA as well as NPM become worse and worse. To sum
up, in 2010, business result of the subject was not as good as that in 2009.
Therefore, the firm maybe meets small transactions. |
Credit Limit
USD 95,195
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.49.24 |
|
UK Pound |
1 |
Rs.76.80 |
|
Euro |
1 |
Rs.67.17 |
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.