MIRA INFORM REPORT
|
Report Date : |
28.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
DAMSAN YARNTEX JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
Lot A4 Bui Vien Street - Nguyen Duc Canh
Industrial Zone - Thai Binh City - Thai Binh Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
2006 |
|
|
|
|
Com. Reg. No.: |
1000389853 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
manufacturing and trading
textile products such as fiber, towel and dyeing items |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 |
|
DAMSAN YARNTEX JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN DET SOI DAMSAN |
|
Short name |
|
DAMSAN CO. |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2006 |
|
Business Registration No. |
|
1000389853 |
|
Date of Registration |
|
29 Sep 2010 |
|
Place of Registration |
|
Thai Binh Department of Planning and
Investment |
|
Current registered capital |
|
60,000,000,000 VND |
|
Status |
|
Unlisted |
|
Tax code |
|
1000389853 |
|
Total Employees |
|
645 |
|
Size |
|
Medium |
|
Note: The given name DAMSAN YARNTEX JSC
VIETNAM is not absolutely correct. The correct name of the subject is as
above. |
||
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Total Employees:
500 people Changed to: 645 people |
2011
|
|
2 |
Subject has got former Registered capital:
VND 33,668,000,000 Changed to: VND 60,000,000,000 |
29
Sep 2010 |
|
3 |
Subject has got former Business
Registration No: 0803000284 Changed to: 1000389853 |
29
Sep 2010 |
company ADDRESSES
|
Head Office |
||
|
Address |
|
Lot A4 Bui Vien Street - Nguyen Duc Canh
Industrial Zone - Thai Binh City - Thai Binh Province - Vietnam |
|
Telephone |
|
(84-36) 3 642 311/ 3 643 808/3 643 998 |
|
Fax |
|
(84-36) 3 642 311/3 642 312 |
|
|
||
|
DamSan Factory I
|
||
|
Address |
|
Lot A4 Bui Vien Street - Duc Canh
Industrial Zone - Thai Binh City - Thai Binh Province - Vietnam |
|
|
||
|
DamSan Factory
II |
||
|
Address |
|
Gia Le Industrial Zone - Dong Hung
District - Thai Binh Province - Vietnam |
DIRECTORS
|
1.
NAME |
|
Mr.
VU HUY DONG |
|
Position |
|
Chairman cum General Director |
|
Date of Birth |
|
21 Jun 1955 |
|
ID Number/Passport |
|
150011086 |
|
ID Issue Date |
|
26 Aug 2004 |
|
ID Issue Place |
|
Police station of
Thai Binh Province |
|
Resident |
|
Group 53 Bo Xuyen
ward - Thai Binh City - Thai Binh Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Mr.
VU HUU DAO |
|
Position |
|
Vice General Director |
|
ID Number/Passport |
|
150004635 |
|
Resident |
|
Ky Ba ward - Thai
Binh City - Thai Binh Province - Vietnam |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
The
subject registers and operates in manufacturing and trading textile products
such as fiber, towel and dyeing items. |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Cotton |
|
·
Market |
|
America, Pakistan, India and Western Africa |
|
·
Ratio |
|
100% |
|
·
Mode of payment |
|
L/C |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Fiber, Towel |
|
·
Market |
|
Taiwan, Japan and Korea |
|
·
Ratio |
|
40% |
BANKERS
|
1.
THE JOINT VENTURE BANK BETWEEN INDUSTRIAL AND COMMERCIAL BANK OF VIETNAM AND
CA THAY UNITED BANK HA NOI BRANCH |
||
|
Address |
|
88 HAI BA TRUNG - Hoan Kiem District - Ha Noi City - Vietnam |
|
Telephone |
|
(84-4) 3826 5516 |
|
Fax |
|
(84-4) 3826 6320 |
|
|
||
|
2.
VIETNAM INTERNATIONAL COMMERCIAL JOINT STOCK BANK THAI BINH BRANCH |
||
SHAREHOLDERS
|
1.
NAME |
|
THAI
BINH TRADING AND INVESTMENT JOINT STOCK COMPANY |
|
Business Registration |
|
0803000204 |
|
Address |
|
No. 399 Le Quy Don street - Thai Binh City -
Thai Binh Province - Vietnam |
|
Number of shares |
|
100,000 |
|
Value of shares |
|
1,000,000,000 VND |
|
Percentage |
|
1.67% |
|
|
||
|
2.
NAME |
|
HANDICRAFT
AND ART ARTICLES EXPORT- IMPORT CORPORATION |
|
Business Registration |
|
0103006536 |
|
Date of Registration |
|
18 Jan 2005 |
|
Place of Registration |
|
Hanoi Planning & Investment Department |
|
Registered Capital |
|
93,742,000,000 VND |
|
Tax code |
|
0100107356 |
|
Address |
|
Artexport House Building - No. 2A - Pham Su
Manh Str Phan Chu Trinh Ward - Hoan Kiem District - Ha Noi City - Vietnam |
|
Tel |
|
(84-4) 3826 5438, 38252760, 38266576 |
|
Fax |
|
(84-4) 3825 9275 |
|
Number of shares |
|
480,000 |
|
Value of shares |
|
4,800,000,000 VND |
|
Percentage |
|
8% |
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN LE HUNG |
|
Date of Birth |
|
30 Aug 1973 |
|
ID Number/Passport |
|
011652545 |
|
Issued on |
|
16 Aug 2007 |
|
Issued Place |
|
Hanoi Police Station |
|
Resident |
|
Room 1403 No 27 Huynh Thuc Khang Lang Ha
Ward - Dong Da District - Ha Noi City - Vietnam |
|
Mobile phone |
|
++84 903423008 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
798,000 |
|
Value of shares |
|
7,980,000,000 VND |
|
Percentage |
|
13.3% |
|
|
||
|
4.
NAME |
|
Ms.
LE MAI KHANH |
|
ID Number/Passport |
|
011543980 |
|
Resident |
|
No. 7 Nam Trang Str - Truc Bach Ward - Hoan
Kiem District - Ha Noi City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
650,200 |
|
Value of shares |
|
6,502,000,000 VND |
|
Percentage |
|
10.84% |
|
|
||
|
5.
NAME |
|
Ms.
DUONG THI NGAN |
|
ID Number/Passport |
|
010271242 |
|
Resident |
|
No. 63 Tran Quoc Toan Str - Hoan Kiem
District - Ha Noi City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
400,000 |
|
Value of shares |
|
4,000,000,000 VND |
|
Percentage |
|
6.67% |
|
|
||
|
6.
NAME |
|
Mr.
VU HUU DAO |
|
Position |
|
Vice General Director |
|
ID Number/Passport |
|
150004635 |
|
Resident |
|
Ky Ba ward - Thai Binh City - Thai Binh
Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
16,000 |
|
Value of shares |
|
160,000,000 VND |
|
Percentage |
|
0.27% |
|
|
||
|
7.
NAME |
|
Mr.
NGUYEN TUAN AN |
|
ID Number/Passport |
|
150056243 |
|
Resident |
|
Phu Khanh Ward - Thai Binh City - Thai
Binh Province - Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
20,000 |
|
Value of shares |
|
200,000,000 VND |
|
Percentage |
|
0.33% |
|
|
||
|
8.
NAME |
|
OTHER
SHAREHOLDERS |
|
Number of shares |
|
3,535,800 |
|
Value of shares |
|
35,358,000,000 VND |
|
Percentage |
|
58.93% |
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 |
|
Status |
Audited |
Audited |
Audited |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
174,385,722,886 |
77,035,350,003 |
52,977,475,754 |
|
I. Cash and cash
equivalents |
3,908,033,061 |
2,499,001,447 |
121,307,801 |
|
1. Cash |
3,908,033,061 |
2,499,001,447 |
121,307,801 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term
investments |
700,000,000 |
0 |
410,000,000 |
|
1. Short-term investments |
700,000,000 |
0 |
410,000,000 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
83,355,491,521 |
39,561,585,154 |
22,463,632,638 |
|
1. Receivable from customers |
32,389,739,258 |
27,835,680,219 |
20,006,313,279 |
|
2. Prepayments to suppliers |
48,432,560,688 |
11,444,424,491 |
2,457,319,359 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
2,663,733,048 |
507,636,935 |
0 |
|
6. Provisions for bad debts |
-130,541,473 |
-226,156,491 |
0 |
|
IV. Inventories |
77,511,449,194 |
29,546,122,991 |
29,054,747,502 |
|
1. Inventories |
77,511,449,194 |
29,546,122,991 |
29,054,747,502 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
8,910,749,110 |
5,428,640,411 |
927,787,813 |
|
1. Short-term prepaid expenses |
0 |
93,914,190 |
90,603,630 |
|
2. VAT to be deducted |
994,319,819 |
1,558,506,206 |
156,571,416 |
|
3. Taxes and other accounts receivable from the State |
28,872,368 |
0 |
123,706,910 |
|
4. Other current assets |
7,887,556,923 |
3,776,220,015 |
556,905,857 |
|
B. LONG-TERM
ASSETS |
203,631,082,696 |
171,753,945,125 |
109,770,403,106 |
|
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
|
189,701,539,343 |
170,371,147,830 |
109,463,879,293 |
|
1. Tangible assets |
184,801,874,787 |
161,308,392,110 |
107,528,384,379 |
|
- Historical costs |
228,070,753,881 |
185,311,721,951 |
119,580,829,357 |
|
- Accumulated depreciation |
-43,268,879,094 |
-24,003,329,841 |
-12,052,444,978 |
|
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 |
4,899,664,556 |
9,062,755,720 |
1,935,494,914 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
12,600,000,000 |
0 |
0 |
|
1. Investments in affiliates |
12,600,000,000 |
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 |
1,329,543,353 |
1,382,797,295 |
306,523,813 |
|
1. Long-term prepaid expenses |
1,329,543,353 |
1,382,797,295 |
306,523,813 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
|
|
1. Goodwill |
0 |
0 |
|
|
TOTAL ASSETS |
378,016,805,582 |
248,789,295,128 |
162,747,878,860 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
296,086,538,242 |
195,581,603,747 |
123,896,807,202 |
|
I. Current
liabilities |
173,219,816,253 |
91,917,021,952 |
65,234,964,892 |
|
1. Short-term debts and loans |
109,961,233,437 |
61,502,887,329 |
15,899,638,421 |
|
2. Payable to suppliers |
46,079,984,730 |
25,338,697,665 |
45,845,251,525 |
|
3. Advances from customers |
7,011,421,140 |
308,068,933 |
81,004,593 |
|
4. Taxes and other obligations to the State Budget |
4,150,562,938 |
206,831,660 |
0 |
|
5. Payable to employees |
2,319,670,642 |
646,294,056 |
471,814,480 |
|
6. Accrued expenses |
556,625,284 |
1,315,269,292 |
0 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
3,140,318,082 |
2,598,973,017 |
2,937,255,873 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
122,866,721,989 |
103,664,581,795 |
58,661,842,310 |
|
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 |
122,838,523,393 |
103,642,770,610 |
58,661,842,310 |
|
5. Deferred income tax payable |
|
|
0 |
|
6. Provisions for unemployment allowances |
28,198,596 |
21,811,185 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
81,930,267,340 |
53,207,691,381 |
38,851,071,658 |
|
I. OWNER’S
EQUITY |
81,030,876,053 |
53,207,691,381 |
38,851,071,658 |
|
1. Capital |
60,000,000,000 |
50,570,600,000 |
32,939,441,904 |
|
2. Share premiums |
322,900,000 |
322,900,000 |
1,659,000,000 |
|
3. Other sources of capital |
1,498,985,479 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
0 |
|
6. Foreign exchange differences |
0 |
-11,108,039 |
0 |
|
7. Business promotion fund |
1,990,939,572 |
491,954,093 |
0 |
|
8. Financial reserved fund |
599,594,191 |
0 |
0 |
|
9. Other funds |
|
0 |
0 |
|
10. Retained earnings |
16,618,456,811 |
1,833,345,327 |
4,252,629,754 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
899,391,287 |
0 |
0 |
|
1. Bonus and welfare funds |
899,391,287 |
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 |
378,016,805,582 |
248,789,295,128 |
162,747,878,860 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sale |
516,726,430,606 |
244,515,451,155 |
198,640,918,562 |
|
2. Deduction item |
9,015,909 |
755,907,724 |
108,639,346 |
|
3. Net sale |
516,717,414,697 |
243,759,543,431 |
198,532,279,216 |
|
4. Costs of goods sold |
445,010,099,238 |
223,244,858,897 |
181,901,907,147 |
|
5. Gross profit |
71,707,315,459 |
20,514,684,534 |
16,630,372,069 |
|
6. Financial income |
3,068,015,833 |
3,698,885,241 |
779,688,099 |
|
7. Financial expenses |
25,773,597,172 |
13,966,384,075 |
7,949,778,194 |
|
- In which: Loan interest expenses |
15,850,513,732 |
7,395,946,195 |
7,949,778,194 |
|
8. Selling expenses |
8,217,500,083 |
3,505,022,959 |
2,173,667,536 |
|
9. Administrative overheads |
7,255,448,809 |
5,033,070,082 |
2,460,273,697 |
|
10. Net operating profit |
33,528,785,228 |
1,709,092,659 |
4,826,340,741 |
|
11. Other income |
492,954,068 |
179,804,779 |
68,554,567 |
|
12. Other expenses |
398,263,875 |
57,686,006 |
119,796,665 |
|
13. Other profit /(loss) |
94,690,193 |
122,118,773 |
-51,242,098 |
|
14. Total accounting profit before tax |
33,623,475,421 |
1,831,211,432 |
4,775,098,643 |
|
15. Current corporate income tax |
3,643,765,850 |
206,831,660 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
|
|
|
|
18. Profit after tax |
29,979,709,571 |
1,624,379,772 |
4,775,098,643 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.01 |
0.84 |
0.81 |
1.18 |
|
Quick liquidity ratio |
0.56 |
0.52 |
0.37 |
0.72 |
|
Inventory circle |
8.31 |
7.56 |
6.26 |
9.18 |
|
Average receive period |
58.88 |
59.24 |
41.30 |
64.20 |
|
Utilizing asset performance |
1.37 |
0.98 |
1.22 |
1.50 |
|
Liability by total asset |
78.33 |
78.61 |
76.13 |
69.79 |
|
Liability by owner equity |
361.39 |
367.58 |
318.90 |
238.92 |
|
Ebit / Total asset (ROA) |
13.09 |
3.71 |
7.82 |
6.08 |
|
Ebit / Owner's equity (ROE) |
60.39 |
17.34 |
32.75 |
21.50 |
|
Ebit / Total sale (NPM) |
9.57 |
3.77 |
6.41 |
4.89 |
|
Gross profit / Total sale (GPM) |
13.88 |
8.39 |
8.37 |
12.63 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
||||
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Low/Medium |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Developing |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Well-known |
INTERPRETATION ON THE SCORES
|
DAMSAN
CO. was founded on June 12th, 2006 under the business registration No.
0803000284 granted by Planning and investment department of Thai Binh
Province. In 2010, it was changed to the Business Code No. 1000389853. The
registered capital is currently increased to VND 60,000,000,000. Its business
scale is expanded and therefore, the total number of employees is also
increased to about 645 people. The
head office of the subject is located at Lot A4, Bui Vien Street, Duc Canh
Industrial Zone, Thai Binh City, Thai Binh Province. Besides, the subject has
two factories named DamSan Factory I and DamSan Factory II. The second one -
DamSan Factory II has been operated since March 2010 with the total area of
60,000 m2. Its operations are now mainly focused on manufacturing and trading
textile products such as fiber, towel and dyeing items. Moreover, it
currently also expands into trading construction materials and real estate
investment. According to Mr. Chien - the subject’s chief accountant, 60% of
subject’s total products are consumed in the domestic market and the left 40%
products are exported to Taiwan, Japan, Korea and European countries. Based
on the financial data, the business result of the company is considered good.
The total turnover was high and stably increased over the years. The profit
after tax was also remarkably achieved, except for the year 2009. In the year
of 2009, the fluctuation in material price and exchange rate, bank loan had
certain influence on its operation and profitability. Therefore, the profit
after tax in 2009 was lower than that in 2010 and 2008. On the other hand,
the business operation was quickly recovered in the year 2010 with VND
29,979,709,571 as profit after tax. In
short, the subject is a medium sized company in the industry. The subject is
now trying its best to stabilize operation and expand the market share
further. The company has ability to meet small and medium 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.49.18 |
|
UK Pound |
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.63 |
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.