MIRA INFORM REPORT
|
Report Date : |
17.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
QUOC VIET SEAPRODUCTS PROCESSING TRADING AND
IMPORT EXPORT CO., LTD |
|
|
|
|
Registered Office : |
444 Ly Thuong Kiet - ward 6 - Ca Mau City
- Ca Mau Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1998 |
|
|
|
|
Com. Reg. No.: |
049286 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Purchasing, processing export
aquatic products, especially sugpo praw |
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 Name |
|
QUOC VIET SEAPRODUCTS PROCESSING TRADING
AND IMPORT EXPORT CO., LTD |
|
Vietnamese Name |
|
CONG TY TNHH KINH DOANH CHE BIEN THUY SAN
XUAT NHAP KHAU QUOC VIET |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
1998 |
|
Business Registration No. |
|
049286 |
|
Date of Registration |
|
23 Jun 2006 |
|
Place of Registration |
|
Ca Mau Planning and Investment Department |
|
Current registered capital |
|
75,736,960,000 VND |
|
Tax code |
|
2000226378 |
|
Total Employees |
|
1,953 |
|
Size |
|
Large |
Historical Identification & Legal form
|
List |
Changed Items |
|
1 |
Subject has got former Registered English
Name: QUOC VIET SEAPRODUCTS PROCESSING TRADING AND EXPORT CO., LTD Changed
to: QUOC VIET SEAPRODUCTS PROCESSING TRADING AND IMPORT EXPORT CO., LTD |
|
2 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH KINH DOANH CHE BIEN THUY SAN XUAT KHAU QUOC
VIET Changed to: CONG TY TNHH KINH DOANH CHE BIEN THUY SAN XUAT NHAP KHAU
QUOC VIET |
|
3 |
Subject has got former Chartered capital: VND
55,736,960,000 Changed to: VND 75,736,960,000 |
company ADDRESSES
|
Head Office |
||
|
Address |
|
444 Ly Thuong Kiet - ward 6 - Ca Mau City
- Ca Mau Province - Vietnam |
|
Telephone |
|
84-780 - 836454/ 560169 |
|
Fax |
|
84-780 - 832021/ 830561 |
|
|
||
|
Workshop Address
|
||
|
Address |
|
62/2 Phan Boi Chau - Ward 7 - Ca Mau City
- Ca Mau Province - Vietnam |
|
Telephone |
|
84-780 - 827343 |
|
|
||
|
Workshop Address
|
||
|
Address |
|
56 Hamlet 03 - Tac Van commune - Ca Mau
City - Ca Mau Province - Vietnam |
|
Telephone |
|
84-780 - 832021 |
|
|
||
|
Transaction
office in Ho Chi Minh |
||
|
Address |
|
No 2A1- A2 Nguyen Thi Minh Khai - Da Kao
ward - 1 District - Ho Chi Minh City - Vietnam |
DIRECTORS
|
1.
NAME |
|
Mr.
NGO VAN NGA |
|
Position |
|
General Director |
|
Date of Birth |
|
02 Jan 1951 |
|
ID Number/Passport |
|
380520670 |
|
ID Issue Date |
|
13 Jun 1995 |
|
ID Issue Place |
|
Minh Hai Police
Station |
|
Resident |
|
62/2 Phan Boi Chau -
ward 7 - Ca Mau City - Ca Mau Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
++840903818783 |
|
|
||
|
2.
NAME |
|
Mr.
NGO QUOC VIET |
|
Position |
|
Deputy General Director |
|
Resident |
|
62/2 A Phan Boi Chau
- Ca Mau City - Ca Mau Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
++84 913988057 |
|
|
||
|
3.
NAME |
|
Mr.
NGO QUOC TUAN |
|
Position |
|
Deputy General Director |
|
Resident |
|
Ca Mau Province -
Vietnam |
|
Tel/Mobil phone |
|
++840909691479 |
|
Email |
|
tuan.ngo@quocvietseafood.com.vn |
|
|
||
|
4.
NAME |
|
Mr.
HUYNH TUNG CHUNG |
|
Position |
|
Deputy General Director |
|
Resident |
|
Ca Mau Province -
Vietnam |
|
Nationality |
|
++84 0903619765 |
|
|
||
|
5.
NAME |
|
Mr.
DO TRUNG HAU |
|
Position |
|
Chief Accountant |
|
Resident |
|
Ca Mau City - Ca Mau
Province - Vietnam |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
The subject specializes in the following lines of
business: |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Market |
|
India (shrimp) and Thailand (flour) |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
shrimp |
|
·
Market |
|
EU Countries, Australia, Japan, Korea, China, Switzerland, U.S.A,
Canada |
BANKERS
|
1.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM CA MAU BRANCH |
||
|
Address |
|
No.3-4C Au Co Street,No.7 Ward - Ca Mau City - Ca Mau Province -
Vietnam |
|
Telephone |
|
(84-780) 3835027 |
|
Fax |
|
(84-780) 3833466 |
|
|
||
|
2.
VIET NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE CA MAU BRANCH |
||
|
Address |
|
No.94 Ly Thuong Kiet - Ca Mau City - Ca Mau Province - Vietnam |
|
Telephone |
|
(84-780) 3831102 |
|
|
||
|
3.
AUSTRALIA AND NEW ZEALAND BANK (ANZ BANK) - HCMC BRANCH |
||
|
Address |
|
No.11 Me Linh Str - 1 District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 38246491 |
|
Fax |
|
(84-8) 38299 316 |
|
|
||
|
4.
ASIA COMMERCIAL BANK |
||
|
Address |
|
No.442, Nguyen Thi Minh Khai Street - 3 District - Ho Chi Minh City -
Vietnam |
|
Telephone |
|
(84-8) 3929 0999 |
|
Fax |
|
(84-8) 3839 9885 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
NGO VAN NGA |
|
Position |
|
General Director |
|
Date of Birth |
|
02 Jan 1951 |
|
ID Number/Passport |
|
380520670 |
|
Issued on |
|
13 Jun 1995 |
|
Issued Place |
|
Minh Hai Police Station |
|
Resident |
|
62/2 Phan Boi Chau - ward 7 - Ca Mau City
- Ca Mau Province - Vietnam |
|
Mobile phone |
|
++840903818783 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
74,836,960,000 VND |
|
Percentage |
|
98.81% |
|
|
||
|
2.
NAME |
|
Mr.
HUYNH TUNG CHUNG |
|
Position |
|
Deputy General Director |
|
Resident |
|
Ca Mau Province - Vietnam |
|
Nationality |
|
++84 0903619765 |
|
Value of shares |
|
100,000,000 VND |
|
Percentage |
|
0.13% |
|
|
||
|
3.
NAME |
|
Mr.
NGO QUOC VIET |
|
Position |
|
Deputy General Director |
|
Resident |
|
62/2 A Phan Boi Chau - Ca Mau City - Ca
Mau Province - Vietnam |
|
Mobile phone |
|
++84 913988057 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
550,000,000 VND |
|
Percentage |
|
0.73% |
|
|
||
|
4.
NAME |
|
Mr.
NGUYEN VAN BE |
|
Resident |
|
Ward 06 - Ca Mau City - Ca Mau Province -
Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
100,000,000 VND |
|
Percentage |
|
0.13% |
|
|
||
|
5.
NAME |
|
Mr.
VO QUOC HAU |
|
Resident |
|
Tac Van commune - Ca Mau City - Ca Mau
Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
50,000,000 VND |
|
Percentage |
|
0.07% |
|
|
||
|
6.
NAME |
|
Mr.
NGO THUY KIEU |
|
Resident |
|
62/2A Phan Boi Chau - Ca Mau City - Ca Mau
Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
550,000,000 VND |
|
Percentage |
|
0.13% |
FINANCIAL DATA
|
BALANCE
SHEET |
|||
Unit: Million VND
|
|||
|
Balance sheet
date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
671,413 |
458,420 |
363,803 |
|
I. Cash and cash
equivalents |
10,467 |
21,992 |
35,185 |
|
1. Cash |
7,971 |
8,709 |
3,460 |
|
2. Cash equivalents |
2,496 |
13,283 |
31,725 |
|
II. Short-term
investments |
45,957 |
40,397 |
2,000 |
|
1. Short-term investments |
45,957 |
40,397 |
2,000 |
|
2. Provisions for devaluation of short-term investments |
|
0 |
0 |
|
III. Accounts
receivable |
338,114 |
226,348 |
156,804 |
|
1. Receivable from customers |
115,256 |
162,053 |
85,435 |
|
2. Prepayments to suppliers |
33,906 |
45,982 |
7,886 |
|
3. Inter-company receivable |
4,012 |
973 |
3,345 |
|
4. Receivable according to the progress of construction |
|
0 |
0 |
|
5. Other receivable |
184,940 |
17,340 |
60,138 |
|
6. Provisions for bad debts |
|
0 |
0 |
|
IV. Inventories |
251,990 |
158,008 |
152,659 |
|
1. Inventories |
251,990 |
158,008 |
152,659 |
|
2. Provisions for devaluation of inventories |
|
0 |
0 |
|
V. Other Current
Assets |
24,885 |
11,675 |
17,155 |
|
1. Short-term prepaid expenses |
|
2,967 |
2,391 |
|
2. VAT to be deducted |
24,885 |
8,708 |
14,764 |
|
3. Taxes and other accounts receivable from the State |
|
0 |
0 |
|
4. Other current assets |
|
0 |
0 |
|
B. LONG-TERM
ASSETS |
206,773 |
212,764 |
205,116 |
|
I. Long term
account receivable |
|
0 |
0 |
|
1. Long term account receivable from customers |
|
0 |
0 |
|
2. Working capital in affiliates |
|
0 |
0 |
|
3. Long-term inter-company receivable |
|
0 |
0 |
|
4. Other long-term receivable |
|
0 |
0 |
|
5. Provisions for bad debts from customers |
|
0 |
0 |
|
II. Fixed assets
|
206,476 |
212,362 |
204,674 |
|
1. Tangible assets |
200,688 |
137,566 |
147,539 |
|
- Historical costs |
270,068 |
171,680 |
169,902 |
|
- Accumulated depreciation |
-69,380 |
-34,114 |
-22,363 |
|
2. Financial leasehold assets |
|
0 |
0 |
|
- Historical costs |
|
0 |
0 |
|
- Accumulated depreciation |
|
0 |
0 |
|
3. Intangible assets |
3,868 |
16,118 |
16,037 |
|
- Initial costs |
3,868 |
16,118 |
16,037 |
|
- Accumulated amortization |
|
0 |
0 |
|
4. Construction-in-progress |
1,920 |
58,678 |
41,098 |
|
III. Investment
property |
|
0 |
0 |
|
Historical costs |
|
0 |
0 |
|
Accumulated depreciation |
|
0 |
0 |
|
IV. Long-term
investments |
|
0 |
40 |
|
1. Investments in affiliates |
|
0 |
40 |
|
2. Investments in business concerns and joint ventures |
|
0 |
0 |
|
3. Other long-term investments |
|
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
|
0 |
0 |
|
V. Other
long-term assets |
297 |
402 |
402 |
|
1. Long-term prepaid expenses |
297 |
402 |
402 |
|
2. Deferred income tax assets |
|
0 |
0 |
|
3. Other long-term assets |
|
0 |
0 |
|
VI. Goodwill |
|
|
|
|
1. Goodwill |
|
|
|
|
TOTAL ASSETS |
878,186 |
671,184 |
568,919 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
720,787 |
485,275 |
389,183 |
|
I. Current
liabilities |
668,996 |
427,668 |
355,243 |
|
1. Short-term debts and loans |
653,880 |
421,055 |
347,740 |
|
2. Payable to suppliers |
|
0 |
4,430 |
|
3. Advances from customers |
|
0 |
764 |
|
4. Taxes and other obligations to the State Budget |
4,673 |
0 |
0 |
|
5. Payable to employees |
6,605 |
6,613 |
2,309 |
|
6. Accrued expenses |
3,838 |
0 |
0 |
|
7. Inter-company payable |
|
0 |
0 |
|
8. Payable according to the progress of construction contracts |
|
0 |
0 |
|
9. Other payable |
|
0 |
0 |
|
10. Provisions for short-term accounts payable |
|
0 |
0 |
|
II. Long-Term
Liabilities |
51,791 |
57,607 |
33,940 |
|
1. Long-term accounts payable to suppliers |
|
0 |
0 |
|
2. Long-term inter-company payable |
|
0 |
0 |
|
3. Other long-term payable |
|
0 |
0 |
|
4. Long-term debts and loans |
51,791 |
57,607 |
33,940 |
|
5. Deferred income tax payable |
|
0 |
0 |
|
6. Provisions for unemployment allowances |
|
0 |
0 |
|
7. Provisions for long-term accounts payable |
|
0 |
0 |
|
B- OWNER’S
EQUITY |
157,399 |
185,909 |
179,736 |
|
I. OWNER’S
EQUITY |
169,601 |
194,344 |
178,421 |
|
1. Capital |
73,484 |
73,484 |
73,484 |
|
2. Share premiums |
|
0 |
0 |
|
3. Other sources of capital |
|
0 |
0 |
|
4. Treasury stocks |
|
0 |
0 |
|
5. Differences on asset revaluation |
|
0 |
0 |
|
6. Foreign exchange differences |
7,601 |
0 |
0 |
|
7. Business promotion fund |
|
0 |
0 |
|
8. Financial reserved fund |
|
0 |
0 |
|
9. Other funds |
|
0 |
0 |
|
10. Retained earnings |
88,516 |
120,860 |
104,937 |
|
11. Construction investment fund |
|
0 |
0 |
|
II. Other
sources and funds |
-12,202 |
-8,435 |
1,315 |
|
1. Bonus and welfare funds |
-12,202 |
-8,435 |
1,315 |
|
2. Sources of expenditure |
|
0 |
0 |
|
3. Fund to form fixed assets |
|
0 |
0 |
|
MINORITY’S
INTEREST |
|
|
|
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
878,186 |
671,184 |
568,919 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sale |
1,897,190 |
1,327,322 |
1,374,355 |
|
2. Deduction item |
11,343 |
0 |
22,442 |
|
3. Net sale |
1,885,847 |
1,327,322 |
1,351,913 |
|
4. Costs of goods sold |
1,722,038 |
1,224,501 |
1,179,298 |
|
5. Gross profit |
163,809 |
102,821 |
172,615 |
|
6. Financial income |
19,223 |
52,155 |
25,548 |
|
7. Financial expenses |
65,013 |
36,819 |
56,486 |
|
- In which: Loan interest expenses |
44,931 |
36,819 |
50,109 |
|
8. Selling expenses |
56,422 |
39,416 |
51,517 |
|
9. Administrative overheads |
16,618 |
8,951 |
10,364 |
|
10. Net operating profit |
44,979 |
69,790 |
79,796 |
|
11. Other income |
0 |
0 |
4 |
|
12. Other expenses |
0 |
0 |
10 |
|
13. Other profit /(loss) |
0 |
0 |
-6 |
|
14. Total accounting profit before tax |
44,979 |
69,790 |
79,790 |
|
15. Current corporate income tax |
11,245 |
17,447 |
0 |
|
16. Deferred corporate income tax |
-5,622 |
-17,447 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
39,356 |
69,790 |
79,790 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.00 |
1.07 |
1.02 |
1.45 |
|
Quick liquidity ratio |
0.63 |
0.70 |
0.59 |
0.93 |
|
Inventory circle |
6.83 |
7.88 |
7.73 |
7.42 |
|
Average receive period |
65.44 |
62.24 |
42.34 |
68.87 |
|
Utilizing asset performance |
2.15 |
1.98 |
2.38 |
1.66 |
|
Liability by total asset |
82.08 |
72.30 |
68.41 |
63.62 |
|
Liability by owner equity |
457.94 |
261.03 |
216.53 |
289.65 |
|
Ebit / Total asset (ROA) |
10.24 |
15.88 |
22.83 |
8.16 |
|
Ebit / Owner's equity (ROE) |
57.12 |
57.34 |
72.27 |
27.66 |
|
Ebit / Total sale (NPM) |
4.74 |
8.03 |
9.45 |
5.74 |
|
Gross profit / Total sale (GPM) |
8.63 |
7.75 |
12.56 |
11.21 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
||||
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Good |
|
Liquidity |
|
Medium/High |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
DP, TT, LC |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Good |
|
CREDIT INQUIRY: USD 125,000 |
|
Reliable! |
INTERPRETATION ON THE SCORES
|
Founding
in 1998, the subject specializes in processing and exporting sugpo prawn with
original name QUOC VIET SEAPRODUCTS PROCESSING TRADING AND EXPORT CO., LTD.
It is operating under business registration number 049286, issued by Ca Mau
Department of Planning and Investment on 23 Jun 2006. The tax code is
2000226378. Now chartered capital of the subject up to more than VND 75
billion. The
subject is one of the biggest companies in the field. According to Vietnam
Customs in 2010, the subject is ranked at number 3rd position in
term of value in top ten seafood exporters. It export value is USD
94,905,483. It exports markets is EU Countries, Australia, Japan, Korea,
China, Switzerland, U.S.A, Canada. In the area of input market, the subject
sometimes import shrimp from India and flour from Thailand with a limited
volume. To
serve for production activities, the subject has one aquaculture zone of
about 32 ha and fours purchase centers in Ca Mau province. Its factory is
fairly large and equipped with modern machines from Japan. Head office of the
subject is at No 444 Ly Thuong Kiet - ward 6 - Ca Mau City - Ca Mau Province.
Premise and facilities are fair. Management capacity is above average. Now
these are about 2,000 people working for the subject in fair working
condition. Financially,
the subject has high growth speed of total asset and sale. In 2010 the
subject reached VND 1,897,190 million of total sales, increased of 42.93%
previous year. Total asset went up from VND 671,184 million in 2009 to VND
878,186 million in 2010, over 30.84%. However, profit after tax had reduced
strongly in 2010, only by 56.39% value in 2009. It is caused from increasing
operating expenses while fall financial income. In overview, the subject’s
profitability still high and financial strengthen is fairly good. It is
available to meet small and normal financial commitments. |
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.49.07 |
|
UK Pound |
1 |
Rs.77.42 |
|
Euro |
1 |
Rs.67.72 |
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.