MIRA INFORM REPORT

 

 

Report Date :

14.04.2012

 

IDENTIFICATION DETAILS

 

Name :

SOCER BRASIL INDÚSTRIA E COMÉRCIO LTDA

 

 

Registered Office :

Estrada Do Guarujá, 3150 Bloco 01 - Jardim Marília 13320-902 - Salto/Sp

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

25.11.1996

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of Intermediate Chemicals.

 

 

No. of Employees :

107

 

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 :

US$ 1.000.000,00

Status :

Good

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


Company name

 

SOCER BRASIL INDÚSTRIA E COMÉRCIO LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

ESTRADA DO GUARUJÁ, 3150 BLOCO 01 - JARDIM MARÍLIA

ZIP CODE/CITY:

13320-902 - SALTO/SP

 

 

PHONE:

11 4028-9900

FAX:

11 4028-9900

E-MAIL:

edson@socer.com.br

WEB SITE:

www.socer.com.br

 

BRANCHES:

 

 

 

ADDRESS:

ESTRADA MUNICIPAL OLAVO EGYDIO DE SOUZA ARANHA SETUBAL, 251 BLOCO B - PONTE ALTA

ZIP CODE/CITY:

18200-000 ITAPETININGA/SP

 

 

ADDRESS:

AVENIDA PREFEITO PAULO NAVES, 470 - CENTRO

ZIP CODE/CITY:

AVARÉ/SP

PHONE:

14 3711-2222

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF INTERMEDIATE CHEMICALS.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

25/11/1996

REGISTER DATE:

25/11/1996

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

01.593.699/0001-03

STATE REGISTER:

600.044.670.110

 

 

SHARE CAPITAL:

R$ 10.330.000,00

LAST REGISTER OF CAPITAL:

21/09/2011

 

BOARD OF DIRECTORS:

 

 

 

ANIBAL SIMÕES MENDES DOS SANTOS

MANAGING PARTNER

JOSÉ PINTO DA ROCHA JORGE FERREIRA

MANAGER

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGING PARTNER AND MANAGER ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

 

SHAREHOLDERS / PARTNERS:

 

 

 

ANIBAL SIMÕES MENDES DOS SANTOS (PORTUGAL)

21,00%

ANTONIO MANUEL HENRIQUES JORGE FERREIRA (PORTUGAL)

39,50%

VITOR HENRIQUES LAGOA (PORTUGAL)

39,50%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

RESINAS BRASIL INDÚSTRIA E COMÉRCIO LTDA

 

RESINAS DO PARANÁ INÚSTRIA E COMÉRIO LTDA

 

SOCIEDADE LUSO BRASILEIRA EXTRAÇÃO E COM. RESINA LTDA

 

RESINA TROPICAIS INDÚSTRIA E COMÉRCIO LTDA

 

HGP IMPORTAÇÃO E EXPORTAÇÃO LTDA

 

AGRO FLORESTAL LAVRAS LTDA

 

OXY TRADE COMERCIO E INDUSTRIA DE PRODUT

 

MGP COMERCIO DE PRODUTOS FLORESTAIS LTDA

 

AGRO FLORESTAL RS LTDA

 

RESINAS RS LTDA

 

RESINAS RP LTDA

 

AGRO FLORESTAL SAO BENTO LTDA

 

AVCA EXPORTAÇÃO E IMPORTAÇÃO LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON NOVEMBER 25, 1996 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

APPROXIMATELY A HUNDRED YEARS OF HISTORY HAVE TRANSFORMED SOCER GROUP INTO A REMARKABLE COMPANY WITH WORLDWIDE RECOGNITION. ORIGINATING IN PORTUGAL IN 1910, SOCER GROUP, WHOSE OWNER WAS MR. MANUEL HENRIQUE JUNIOR, BEGAN THE MANUFACTURING AND COMMERCIALIZATION OF COLOPHONY.

 

IN THE 50'S, AFTER THE MERGE WITH TWO OTHER IMPORTANT COMPANIES IN THE PORTUGUESE MARKET: CPR - COMPANHIA DE PRODUTOS RESINOSOS AND CIR - COMPANHIA INDUSTRIAL RESINEIRA AND THE PURCHASE OF ANOTHER IMPORTANT COMPANY IN THIS TRADE, URP - UNIÃO RESINEIRA PORTUGUESA, SOCER GROUP REACHES THE LEADING POSITION IN THE PORTUGUESE MARKET AND BECOMES ONE OF THE MOST IMPORTANT EXPORTERS OF TERPENIC PRODUCTS IN THE MARKET.

 

SINCE THE BEGINNING, SOCER GROUP HAS BEEN IN THE VANGUARD OF THE DEVELOPMENT AND MANUFACTURING OF TERPENE DERIVATIVES AND SEVERAL PARTNERSHIPS WERE MADE THROUGHOUT THIS PERIOD WITH OTHER COMPANIES IN THE WORLD, SUCH AS: SEPULCHRE, REICHOLD, HERCULES, AND HOECHST.

 

AIMING TO INCREASE THEIR BUSINESS SHARE, THE GROUP STARTED TO EXPAND IN 1992, REACHING BRAZIL.  IN 1996, WITHIN A JOINT VENTURE WITH THE GROUP RESINAS BRASIL, THEY PURCHASED THE GUM ROSIN PRODUCTION UNIT FROM THE EUCATEX GROUP AND FOUNDED 'SOCER BRASIL LTDA.', THE COMPANY, WHICH SINCE 2003 UNIFIES THE WHOLE SOCER'S TERPENE PRODUCT MANUFACTURING.

 

IN 2004 BASED ON ITS MARKET PERFORMANCE SOCER BECAME BRAZIL'S SEGMENT LEADER AND LARGEST GUM ROSIN AND TURPENTINE DERIVATIVES EXPORTER WITH A COMPREHENSIVE PRODUCT PORTFOLIO.

 

IN 2007, SOCER WAS INTEGRALLY ACQUIRED BY THE GROUP RESINAS BRASIL AND BECAME PART OF THE LARGEST BRAZILIAN PRODUCER AND EXPORTER GROUP OF ITS MARKET SEGMENT IN LATIN AMERICA.

 

THE CONTACTS WERE MADE THROUGH THE COMPANY RESINAS BRASIL INDÚSTRIA E COMÉRCIO LTDA, PHONE 14 3711-2222.

 

THE COMPANY HAS THE ISO 9001 - 2008 CERTIFICATION.

 

PARTNERS:

 

ANIBAL SIMÕES MENDES DOS SANTOS: PORTUGUESE, MARRIED, HOLDER OF DOCUMENTS CPF 107.927.163-53, RG 36.374.663-8 SSP/SP, RESIDENTIAL ADDRESS AT AV. PREFEITO PAULO NOVAES 470, AVARE/SP.

 

ANTONIO MANUEL HENRIQUES JORGE FERREIRA: PORTUGUESE, MARRIED, HOLDER OF DOCUMENTS CPF 226.019.568-79, RG V512162-8 CGPI/DIREX/DPF - SP, RESIDENTIAL ADDRESS AT RUA GRECIA 85, AVARE/SP.

 

VITOR HENRIQUES LAGOA: PORTUGUESE, MARRIED, HOLDER OF DOCUMENTS CPF 226.019.638-16, PASSPORT 505576 - SP, RESIDENTIAL ADDRESS AT AV. NOSSA SENHORA DO ROSARIO 1012, CASCAIS, PORTUGAL.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE SENT TO YOUR ATTENTION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC RECORDS INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 


FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/12/2010, 31/12/2009 AND 31/12/2008.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2010

31/12/2009

31/12/2008

 

 

 

 

CASH

5.588,12

3.696,51

1.437,00

BANKS

1.617.453,11

1.032.315,85

1.797.146,17

CLIENTS

17.296.105,86

7.782.057,20

4.006.544,29

INVENTORY

5.994.379,91

5.936.554,66

5.304.177,85

ADVANCE TO SUPPLIERS

4.020.786,03

1.474.961,57

412.249,58

RECOVERABLE TAXES

2.440.577,62

349.975,53

241.666,59

JUDICIAL DEPOSITS

433.059,81

433.059,81

415.325,89

OTHER CREDITS

35.698,63

29.195,21

41.855,44

PRE PAID EXPENSES

83.248,71

64.809,44

56.899,18

INVESTMENTS

 

 

2.175.000,00

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

31.926.897,80

17.106.625,78

14.452.301,99

 

FIXED ASSETS:

 

 

 

 

 

 

 

INVESTMENTS

21.436,39

21.436,39

21.436,39

FIXED ASSETS

67.452.925,47

9.779.386,65

8.641.502,95

 

----------------

----------------

----------------

TOTAL FIXED ASSETS

67.474.361,86

9.800.823,04

8.662.939,34

 

================

================

================

TOTAL ASSETS

99.401.259,66

26.907.448,82

23.115.241,33

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2010

31/12/2009

31/12/2008

 

 

 

 

SUPPLIERS

15.584.206,89

3.305.354,27

3.609.905,28

LABOR OBLIGATIONS

 

 

171.272,72

TRIBUTARY OBLIGATIONS

395.349,45

753.414,26

187.122,32

PROVISIONS

 

 

385.231,12

ADVANCE FROM CLIENTS

88.824,09

 

8.298,90

ACCOUNTS PAYABLE

4.150.000,00

4.141.111,02

4.142.250,52

SOCIAL CONTRIBUTION

865.535,94

545.590,11

 

ADVANCE TO EXCHANGE CONTRACT

4.226.525,20

 

 

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

25.310.441,57

8.745.469,66

8.504.080,86

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

INTERCOMPANY DEBTS

750.550,00

497.912,05

468.373,60

LOANS AND FINANCING

2.188.225,19

2.208.302,25

3.771.194,75

DEFERRED TAXES

17.335.440,61

 

 

 

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

20.274.215,80

2.706.214,30

4.239.568,35

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

2.180.000,00

2.180.000,00

2.180.000,00

CAPITAL RESERVES

 

 

16.836,39

ACCRUED PROFIT (LOSS)

17.985.452,87

13.275.764,86

8.174.755,73

OTHER COMPREHENSIVE INCOME

33.651.149,42

 

 

 

----------------

----------------

----------------

TOTAL NET EQUITY

53.816.602,29

15.455.764,86

10.371.592,12

 

================

================

================

TOTAL LIABILITIES

99.401.259,66

26.907.448,82

23.115.241,33

 

PROFIT AND LOSS ACCOUNTS AS OF 31/12/2010, 31/12/2009 AND 31/12/2008.

( FIGURES ARE IN REAIS ).

 

 

31/12/2010

31/12/2009

31/12/2008

 

 

 

 

GROSS SALES

99.556.227,48

68.892.435,56

57.018.332,81

(-) TAXES ON SALES

16.171.158,83

12.380.253,61

10.997.980,77

 

----------------

----------------

----------------

NET SALES

83.385.068,65

56.512.181,95

46.020.352,04

(-) COST OF SOLD GOODS

67.099.199,56

43.271.141,67

37.151.791,54

 

----------------

----------------

----------------

GROSS PROFIT

16.285.869,09

13.241.040,28

8.868.560,50

OPERATING REVENUE (EXPENSE)

-7.173.821,91

-4.075.581,51

-4.169.974,93

FINANCIAL REVENUE(EXPENSE)

-874.206,98

-55.896,62

-1.339.100,00

 

----------------

----------------

----------------

OPERATIONAL PROFIT (LOSS)

8.237.840,20

9.109.562,15

3.359.485,57

NON-OPERATING RESULT

 

49.814,72

7.905,80

CONTRIBUTION/INCOME TAX

-2.808.337,19

-3.125.837,13

-1.027.325,44

 

----------------

----------------

----------------

NET PROFIT (LOSS)

5.429.503,01

6.033.539,74

2.340.065,93

 

MONTHLY SALES

 

  2011

 

 

 

---------------------

 

 

JANUARY

R$ 10.607.316,55

 

 

FEBRUARY

R$ 10.680.935,89

 

 

MARCH

R$ 8.940.798,13

 

 

APRIL

R$ 6.867.006,63

 

 

MAY

R$ 8.346.636,74

 

 

JUNE

R$ 7.922.750,85

 

 

JULY

R$ 9.561.567,23

 

 

AUGUST

R$ 9.513.048,27

 

 

SEPTEMBER

R$ 10.206.683,00

 

 

OCTOBER

R$ 9.690.609,91

 

 

NOVEMBER

R$ 9.065.318,48

 

 

DECEMBER

 

 

 

TOTAL

R$ 101.402.671,68

 

 

 

RATIOS:

31/12/2010

31/12/2009

31/12/2008

 

QUICK RATIO

1,02

 

1,28

 

1,08

 

CURRENT RATIO

1,26

 

1,96

 

1,70

 

ACCOUNTS RECEIVABLE TURNOVER

4,82

TIMES

7,26

TIMES

11,49

TIMES

DAYS' SALES IN RECEIVABLES

74,67

DAYS

49,57

DAYS

31,34

DAYS

INVENTORY TURNOVER

11,19

TIMES

7,29

TIMES

7,00

TIMES

ACCOUNTS PAYABLE PERIOD

83,61

DAYS

27,50

DAYS

34,98

DAYS

RETURN ON ASSETS

,84

TIMES

2,10

TIMES

1,99

TIMES

SALES TURNOVER ON NET EQUITY

1,55

TIMES

3,66

TIMES

4,44

TIMES

NET WORTH TIE-UP

1,25

 

,63

 

,83

 

INDEBTEDNESS

,85

 

,74

 

1,23

 

EQUITY RATIO

54,14

%

57,44

%

44,87

%

WORKING CAPITAL RATIO

26,14

%

95,61

%

69,95

%

GENERAL SOLVENCY

2,18

 

2,35

 

1,81

 

RETURN ON NET EQUITY

10,09

%

39,04

%

22,56

%

RETURN ON SALES (PROFIT MARGIN)

6,51

%

10,68

%

5,08

%

GROSS PROFIT MARGIN

19,53

%

23,43

%

19,27

%

OPERATIONAL RESULT

9,88

%

16,12

%

7,30

%

SALES TURNOVER ON LIABILITIES

3,29

TIMES

6,46

TIMES

5,41

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 1,83

 - OFFICIAL RATE ON 11/04/2012

US$ 1,00 = R$ 1,66

 - OFFICIAL RATE ON 31/12/2010

US$ 1,00 = R$ 1,74

 - OFFICIAL RATE ON 31/12/2009

US$ 1,00 = R$ 2,33

 - OFFICIAL RATE ON 31/12/2008

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS

 

THE FIGURES AVAILABLE SHOW A GOOD FINANCIAL STANDING. IT SHOWS GOOD LIQUIDITY RATIOS AND POSITIVE WORKING CAPITAL AMOUNT, AS WELL AS LOW LEVEL OF INDEBTEDNESS. IT ALSO SHOWS GROWING SALES AND PROFITABILITY.

 

 

REAL ESTATE:

 

   NOT AVAILABLE

 

VEHICLES:

 

   NOT AVAILABLE

 

MACHINES:

 

   NOT AVAILABLE

 

 

INSURANCE

 

NOT AVAILABLE.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO ITAÚ S/A

14 3102-1268

BAURU/SP

BANCO DO BRASIL S/A

14 3214-5200

BAURU/SP

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

 

ACTIVITIES COMMENTS

 

THE SUBJECT IS ENGAGED IN THE MANUFACTURE OF INTERMEDIATE CHEMICALS.

 

IMPORT AND EXPORT:

 

   IMPORTS FROM:

NOT AVAILABLE.

 

 

   EXPORTS TO:

NOT AVAILABLE.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

PHONE:

3M DO BRASIL LTDA

 

19 3838-6865

ADECOL IND. QUIMICA LTDA

 

 

ARCOR DO BRASIL LTDA

 

19 3493-9117

BOAINAIN IND. E COMERCIO LTDA

 

 

BOMBRIL S/A

 

 

FIRMENICH & CIA LTDA

 

11 4617-8800

GIVAUDAN DO BRAIL IND. E COM. DE AROMAS E FRAGANCIAS LTDA

 

19 3876-8819

NACIONAL DE GRAFITE

 

37 3341-8000

SUKEST INDÚSTRIA  DE ALIMENTOS E FARMA LTDA

 

14 4009-3000

 

STAFF:

 

THE COMPANY HAS: 107 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1996. SO FAR IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOR.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

CARBOCLORO S/A INDS. QUIMICAS

 

11 3704-4200

CIA BRASILEIRA DE PETROLEO IPIRANGA

 

 

COREMAL COM. REPRES. MAIA LTDA

 

81 3267-4700

EÇEKEIROZ S/A

 

11 4596-8780

FEIRABOR LTDA

 

 

GREIF EMBALAGENS INDUSRIAIS DO BRASIL LTDA

 

21 3865-3358

IBÉRIA IND. DE EMBALAGENS LTDA

 

19 3652-9108

IQ SOLUÇÕES & QUIMICA S/A

 

 

JORPAN IND. E COM. DE EMBALAGENS LTDA

 

11 4648-6877

KROMINOX ACOS METAIS LTDA

 

 

MAKENI CHEMICALS COM IND DE PROD. QUIMICOS LTDA

 

11 4071-0694

MANCHESTER CHEMICAL PROD. QUIMICOS LTDA

 

11 6905-1522

MAPEX COML. DISTRIBUIDORA LTDA

 

 

PLURY QUIMICA LTDA

 

11 4091-4711

POLIKRAFGT SACOS MULTIFOLHADOS DE PAPEL LTDA

 

11 3686-5848

QUÍMICA AMPARO

 

11 3683-8333

SUKEST IND SUCOS LTDA

 

 

 

PAYMENT HISTORY:

 

07 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 283.116,00

 

AMOUNT OF INVOICES PAID: 59

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 14.538,00

HIGHEST CREDIT: R$ 14.538,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 30 DAYS:

 

---------------------------

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

2

2

R$ 6.560,21

 

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS. UP TO DATE IT HAS A GOOD FINANCIAL STANDING, A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOR.

 

BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH.

 

A CREDIT LIMIT OF US$ 1.000.000,00 MAY BE CONSIDERED.

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.51.42

UK Pound

1

Rs.81.93

Euro

1

Rs.67.67

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.