MIRA INFORM REPORT

 

 

Report Date :

03.08.2012

 

IDENTIFICATION DETAILS

 

Name :

FUJIFILM IMAGING COLORANTS LTD.

 

 

Registered Office :

P o Box 42, Hexagon Tower, Blackley, Manchester, M9 8ZS

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

18.02.2005

 

 

Com. Reg. No.:

05369196

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

manufacturer of colourants and inks for the home and office ink-jet printing sectors

 

 

No. of Employees :

174

 

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 :

Slow

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)

United Kingdom 

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name & address 

 

Fujifilm Imaging Colorants Ltd.

Po Box 42

Hexagon Tower

Manchester, M9 8ZS

United Kingdom

Web:    www.fujifilmimagingcolorants.co.uk

           

 

Synthesis

 

Employees:                  174

Company Type:             Private Subsidiary

Corporate Family:          3 Companies

Ultimate Parent:            Fujifilm Corporation

Quoted Status:             Non-quoted Company

Incorporation Date:         18-Feb-2005

Auditor:                        Ernst & Youngllp           

Financials in:                 USD (Millions)

Fiscal Year End:            31-Mar-2012

Reporting Currency:       British Pound Sterling

Annual Sales:               51.0  1

Net Income:                   6.3

Total Assets:                60.5

 

 

Business Description     

 

Fujifilm Imaging Colorants Ltd. is a global manufacturer of colourants and inks for the home and office ink-jet printing sectors. The company also develops and manufactures chemically produced toners for laser printers and photocopiers and infrared absorbers used in high-value markings. Fujifilm Imaging Colorants serves a wide range of industrial markets, including commercial print, packaging, electronics and graphic arts. It offers a range of aqueous-based colourants, which are used within consumer and desktop printer markets. It offers a solution-based approach to developing customised colourant products for specific applications. (Updated by OneSource Information Services)

 

Industry             

Industry            Chemical Manufacturing

ANZSIC 2006:    1899 - Other Basic Chemical Product Manufacturing Not Elsewhere Classified

NACE 2002:      2466 - Manufacture of other chemical products not elsewhere classified

NAICS 2002:     325998 - All Other Miscellaneous Chemical Product and Preparation Manufacturing

UK SIC 2003:    2466 - Manufacture of other chemical products not elsewhere classified

US SIC 1987:    2899 - Chemicals and Chemical Preparations, Not Elsewhere Classified

 

 

Key Executives   

 

Name

Title

Neil Llewellyn Denham

Secretary

Yoshihisa Goto

Director

Mamoru Matsushita

Director

Brian John Meldrum

Director

Kazuo Nobechi

Director

 

 

Financial Summary    

 

FYE: 31-Mar-2012          USD (mil)

Key Figures    

Current Assets  18.75

Fixed Assets     41.72

Total Liabilities   70.80

Net Worth         -21.79

 

Key Ratios      

Current Ratio     0.26

Acid Test          0.08

 

Registered No.(UK): 05369196

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6267523

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6281078

 

 

Corporate Overview

 

Location

Po Box 42

Hexagon Tower

Manchester, M9 8ZS

Greater Manchester County

United Kingdom

Web:    www.fujifilmimagingcolorants.co.uk

           

Sales GBP(mil):             32.0

Assets GBP(mil):           38.0

Employees:                   174

Fiscal Year End:            31-Mar-2012

Industry:                        Chemical Manufacturing

           


Registered Address:

Po Box 42

Hexagon Tower

Blackley

Manchester, M9 8ZS

United Kingdom

 

Incorporation Date:         18-Feb-2005

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(UK):       05369196

Secretary:                     Neil Llewellyn Denham

 

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

ANZSIC 2006 Codes:

1899     -          Other Basic Chemical Product Manufacturing Not Elsewhere Classified

 

NACE 2002 Codes:

2466     -          Manufacture of other chemical products not elsewhere classified

 

NAICS 2002 Codes:

325998  -          All Other Miscellaneous Chemical Product and Preparation Manufacturing

 

US SIC 1987:

2899     -          Chemicals and Chemical Preparations, Not Elsewhere Classified

 

UK SIC 2003:

2466     -          Manufacture of other chemical products not elsewhere classified

 

Business Description

Fujifilm Imaging Colorants Ltd. is a global manufacturer of colourants and inks for the home and office ink-jet printing sectors. The company also develops and manufactures chemically produced toners for laser printers and photocopiers and infrared absorbers used in high-value markings. Fujifilm Imaging Colorants serves a wide range of industrial markets, including commercial print, packaging, electronics and graphic arts. It offers a range of aqueous-based colourants, which are used within consumer and desktop printer markets. It offers a solution-based approach to developing customised colourant products for specific applications. (Updated by OneSource Information Services)

 

Financial Data

Financials in:

GBP(mil)

 

Revenue:

32.0

Net Income:

3.9

Assets:

38.0

Current Assets:

11.8

 

Fixed Assets:

26.2

 

Long Term Debt:

0.8

 

Total Liabilities:

45.3

 

Issued Capital:

72.7

 

Working Capital:

-32.7

 

Net Worth:

-13.7

 

 

 

Date of Financial Data:

31-Mar-2012

 

1 Year Growth

-3.3%

NA

204.7%

 

Key Corporate Relationships

Auditor:

Ernst & Youngllp

 

Auditor:

Ernst & Youngllp

 

 

 

GBP(mil)

Audit Fees:

0.1

Audit Fiscal Year:

03-31-2012

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Fujifilm Imaging Colorants Ltd.

Fujifilm Imaging Colorants Ltd. 
Total Corporate Family Members: 3 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Fujifilm Corporation

Parent

 

 

 

 

 

 

Fujifilm Imaging Colorants Ltd.

Subsidiary

Manchester

United Kingdom

Chemical Manufacturing

51.0

174

 

Sericol Ink Ltd.

Subsidiary

Broadstairs

United Kingdom

Miscellaneous Fabricated Products

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Yoshihisa Goto

 

Director

Director/Board Member

 

Age: 61

 

Mamoru Matsushita

 

Director

Director/Board Member

 

 

Age: 55

 

Brian John Meldrum

 

Director

Director/Board Member

 

 

Age: 49

 

Kazuo Nobechi

 

Director

Director/Board Member

 

 

Age: 59

 

Stephen Edward Roberts

 

Director

Director/Board Member

 

 

Age: 48

 

Toshiki Taguchi

 

Director

Director/Board Member

 

 

Age: 49

 

Kimura Yoshiki

 

Director

Director/Board Member

 

 

Age: 50

 

 

Executives

 

Name

Title

Function

 

Neil Llewellyn Denham

 

Secretary

Company Secretary

 

Age: 46

 


Directors and Shareholders Report

Main Office Address:
Po Box 42
Hexagon Tower
Manchester
United Kingdom M9 8ZS

URL:http://www.fujifilmimagingcolorants.co.uk

Annual Return Date: 24 Jul 2011
Total Issued Capital (GBP 000): 72,655

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Toshiki 
Taguchi

Current

23 Feb 1963

Po Box 42, Hexagon Tower, 
Manchester, Greater Manchester M9 8ZS

10 Nov 2010

NA

Current:1
Previous:0
Disqualifications:0

 

Kimura 
Yoshiki

Current

04 Apr 1962

Po Box 42, Hexagon Tower, 
Manchester, Greater Manchester M9 8ZS

10 Nov 2010

NA

Current:1
Previous:0
Disqualifications:0

 

Yoshihisa 
Goto

Current

02 Apr 1951

Po Box 42, Hexagon Tower, 
Manchester, Greater Manchester M9 8ZS

18 Mar 2010

NA

Current:1
Previous:0
Disqualifications:0

 

Kazuo 
Nobechi

Current

07 May 1953

Po Box 42, Hexagon Tower, 
Manchester, Greater Manchester M9 8ZS

18 Mar 2010

NA

Current:1
Previous:0
Disqualifications:0

 

Brian John 
Meldrum

Current

18 Oct 1962

Po Box 42, Hexagon Tower, 
Manchester, Greater Manchester M9 8ZS

02 Sep 2011

NA

Current:1
Previous:1
Disqualifications:0

 

Stephen Edward 
Roberts

Current

29 Mar 1964

11 Sadlers Wells, Bunbury, 
Tarporley, Cheshire CW6 9NU

17 Feb 2006

NA

Current:1
Previous:1
Disqualifications:0

 

Mamoru 
Matsushita

Current

04 Jan 1957

Po Box 42, Hexagon Tower, 
Manchester, Greater Manchester M9 8ZS

18 Mar 2010

NA

Current:2
Previous:2
Disqualifications:0

 

Yoshiro 
Kumano

Previous

21 Jan 1953

6 Albert Place, 
Stirling, Stirling FK8 2QL

17 Feb 2006

17 Jul 2010

Current:0
Previous:1
Disqualifications:0

 

Akio 
Mitsui

Previous

05 May 1947

1952-5 Nobusawa Kaisei-Machi, Ashigarakami-Gun, 
Kanagawa, 208-0026

17 Feb 2006

04 Aug 2008

Current:0
Previous:1
Disqualifications:0

 

Satoru 
Hattori

Previous

30 Dec 1959

14 Streamside Close, Timperley, 
Altrincham, Cheshire WA15 7PE

08 Oct 2007

01 Oct 2009

Current:0
Previous:2
Disqualifications:0

 

Nobuo 
Sakai

Previous

18 Oct 1953

9 Walnut Close, Salisbury Avenue, 
Broadstairs, Kent CT10 2EL

17 Feb 2006

08 Oct 2007

Current:0
Previous:4
Disqualifications:0

 

Kazuyoshi 
Hirao

Previous

11 Feb 1962

Hexagon Tower, Blackley, 
Manchester, Greater Manchester M9 8ZS

01 Sep 2010

10 Nov 2010

Current:0
Previous:1
Disqualifications:0

 

Paul Richard Ferdinand 
Borloo

Previous

07 Mar 1943

266 Dorpsstraat, 
Bertem

30 Sep 2008

31 Aug 2010

Current:0
Previous:1
Disqualifications:0

 

Tadashi 
Sasaki

Previous

24 Aug 1946

544-22 Ichigao-Cho, Aoba-Ku, 
Yokohama-Shi, Kanagawa

21 Apr 2009

02 Sep 2011

Current:0
Previous:1
Disqualifications:0

 

Jeremy Paul 
Scudamore

Previous

27 Apr 1947

White House, Cliff Road Acton Bridge, 
Northwich, Cheshire CW8 3QP

18 Feb 2005

17 Feb 2006

Current:0
Previous:19
Disqualifications:0

 

Duncan 
Mclellan

Previous

01 Apr 1957

19 Fairways, Frodsham, 
Frodsham, Cheshire WA6 7RU

03 Oct 2005

17 Feb 2006

Current:15
Previous:6
Disqualifications:0

 

Hideaki 
Horie

Previous

NA

Mukouhara 238-24, Yamakita-Chou, 
Ashigara-Kami-Gun, Kanagawa

04 Aug 2008

21 Apr 2009

Current:0
Previous:1
Disqualifications:0

 

David Charles 
Greensmith

Previous

13 Mar 1953

Q5 Quorum Business Park Benton Lane, 
Newcastle Upon Tyne, Tyne And Wear NE12 8BS

18 Feb 2005

30 Sep 2008

Current:3
Previous:17
Disqualifications:0

 

Derrick Alan 
Nicholson

Previous

02 May 1950

Treelands, 55 Spring Lane Burn Bridge, 
Harrogate, North Yorkshire HG3 1NP

18 Feb 2005

04 Oct 2005

Current:1
Previous:15
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

There are no corporate directors for this company.

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Neil Llewellyn
Denham

Current

22 Mar 1966

38 School Lane, Didsbury, 
Manchester, Greater Manchester M20 6RG

13 Feb 2006

NA

Current:2
Previous:18
Disqualifications:0

 

Andrew Peter 
Cree

Previous

03 Aug 1952

Webber House 26-28 Market Street, 
Altrincham, Cheshire WA14 1PF

18 Feb 2005

13 Feb 2006

Current:5
Previous:20
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

There are no corporate secretaries for this company.

 

 

Individual Shareholders

 

Name

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Fujifilm Corporation

72655187 Ordinary GBP 1.00

Ordinary

72,655,187

1.00

72,655,187.00

100.00

 

 

 

 

 

 

 

 

Corporate Shareholders

 

There are no corporate shareholders for this company.

 

 

 

 

 

Annual Profit & Loss

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.626752

0.643394

0.627794

0.592803

0.498361

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Turnover (UK)

1.2

1.4

1.5

1.0

2.0

Turnover (Exports)

49.8

50.0

40.1

38.8

49.8

Total Turnover

51.0

51.4

41.6

39.8

51.9

Cost of Sales

26.1

40.8

28.3

21.7

32.6

Gross Profit

24.9

10.6

13.3

18.1

19.2

Depreciation

4.9

6.3

6.1

3.7

4.9

Other Expenses

23.3

46.9

28.5

28.0

44.9

Other Income

3.9

13.1

4.1

10.5

7.0

Interest Paid

1.0

9.2

0.5

15.7

1.0

Exceptional Income

0.0

16.0

0.0

-1.1

0.0

Discontinued Operations

0.0

0.0

0.0

0.0

0.0

Profit Before Taxes

4.6

-16.4

-11.6

-16.2

-19.7

Tax Payable / Credit

-1.7

0.2

-3.4

1.9

1.0

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

0.0

0.0

0.0

0.0

0.0

Profit After Taxes

6.3

-16.6

-8.2

-18.1

-20.7

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.1

0.1

0.1

0.1

0.1

Non Audit Fees

-

-

-

-

0.0

Number of Employees

174

175

200

211

239

Wages

11.5

11.5

12.6

14.0

17.6

Social Security Costs

1.3

1.2

1.3

1.4

1.8

Pensions

-

-

-

-

0.0

Other Pension Costs

2.1

3.0

1.8

2.4

3.4

Employees Remuneration

14.9

15.7

15.7

17.8

22.8

Directors Emoluments

-

-

-

-

1.6

Other Costs

-

-

-

-

0.0

Directors Remuneration

0.6

0.7

1.1

2.0

1.6

Highest Paid Director

0.4

0.3

0.4

1.8

0.8

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.628108

0.62385

0.659239

0.697666

0.503145

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

1.8

3.9

2.9

2.5

21.1

Fixtures & Fittings

0.0

0.0

0.0

0.0

0.0

Plant & Vehicles

36.2

37.4

49.7

46.6

22.6

Total Tangible Fixed Assets

38.0

41.4

52.5

49.1

43.7

Intangible Assets

3.7

4.2

11.8

13.3

17.2

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

41.7

45.5

64.4

62.4

61.0

Stocks

7.4

8.2

6.1

6.1

5.5

Work in Progress

5.8

3.3

3.0

1.1

0.9

Total Stocks Work In Progress

13.1

11.5

9.0

7.2

6.3

Trade Debtors

1.3

1.2

1.0

1.3

3.3

Inter-Company Debtors

2.6

1.7

3.5

2.2

1.4

Other Debtors

0.6

1.0

1.2

1.4

2.1

Total Debtors

4.5

3.8

5.7

5.0

6.8

Cash and Equivalents

1.1

6.4

15.4

14.1

20.5

Other Current Assets

0.0

0.0

0.0

0.0

18.0

Total Current Assets

18.7

21.7

30.2

26.3

51.7

Total Assets

60.5

67.2

94.5

88.8

112.6

Trade Creditors

3.4

7.0

7.6

6.8

6.2

Inter-Company Creditors

61.8

64.3

68.6

56.8

28.7

Hire Purchase (Current Liability)

0.0

-

-

-

-

Finance Lease (Current Liability)

0.0

-

-

-

-

Total Finance Lease/Hire Purchase (Current Liability)

0.0

0.0

0.0

0.0

-

Total Short Term Loans

2.7

-

1.5

1.4

-

Accruals/Deferred Income (Current Liability)

2.1

2.5

1.3

1.4

1.9

Social Security/VAT

0.4

0.4

0.5

0.3

0.6

Other Current Liabilities

0.5

0.3

0.3

0.1

0.5

Total Current Liabilities

70.8

74.4

79.8

67.0

37.8

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Long Term Liability)

0.0

0.0

-

-

0.0

Leasing (Long Term Liability)

0.0

0.0

-

-

0.0

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Long Term Liability)

1.2

1.4

1.4

1.1

0.4

Other Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Total Long Term Liabilities

1.2

1.4

1.5

1.2

0.4

Deferred Taxation

-

0.0

0.0

0.0

0.0

Other Provisions

6.5

1.1

23.1

4.7

7.3

Total Provisions

6.5

1.1

23.1

4.7

7.3

Issued Capital

115.7

116.5

110.2

104.1

144.4

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

-133.8

-126.1

-120.0

-88.2

-77.3

Other Reserves

0.0

0.0

0.0

0.0

0.0

Minority Interests (Balance Sheet)

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

-18.1

-9.6

-9.8

16.0

67.1

Net Worth

-21.8

-13.8

-21.7

2.7

49.8

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.626752

0.643394

0.627794

0.592803

0.498361

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.628108

0.62385

0.659239

0.697666

0.503145

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

0.26

0.29

0.38

0.39

1.37

Liquidity Ratio

0.08

0.14

0.26

0.29

1.20

Stock Turnover

3.87

4.61

4.39

4.68

8.10

Credit Period (Days)

9.25

8.11

9.21

14.45

23.73

Working Capital by Sales

-102.22%

-99.29%

-125.22%

-120.11%

26.92%

Trade Credit by Debtors

2.61

5.92

7.59

5.09

1.85

Return on Capital

-

-

-74.85%

-63.06%

-26.12%

Return on Assets

7.60%

-25.10%

-11.69%

-15.49%

-17.34%

Profit Margin

9.03%

-31.84%

-27.91%

-40.68%

-38.04%

Return on Shareholders Funds

-

-

-

-86.12%

-29.13%

Borrowing Ratio

-296.01%

-466.44%

-323.93%

2,182.56%

57.60%

Equity Gearing

-29.94%

-14.30%

-10.40%

17.99%

59.53%

Debt Gearing

-

-

-0.05%

1.13%

-

Interest Coverage

4.75

-1.78

-23.66

-1.03

-18.83

Sales by Tangible Assets

1.34

1.28

0.75

0.69

1.17

Average Remuneration per Employee

0.1

0.1

0.1

0.1

0.1

Profit per Employee

0.0

-0.1

-0.1

-0.1

-0.1

Sales per Employee

0.3

0.3

0.2

0.2

0.2

Capital Employed per Employee

-0.1

0.0

0.1

0.1

0.3

Tangible Assets per Employee

0.2

0.2

0.3

0.2

0.2

Total Assets per Employee

0.3

0.4

0.5

0.4

0.5

Employee Remuneration by Sales

29.20%

30.54%

37.78%

44.64%

43.91%

Creditor Days (Cost of Sales Based)

47.13

60.39

102.71

135.21

69.72

Creditor Days (Sales Based)

24.12

47.99

69.91

73.60

43.89

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.78

UK Pound

1

Rs.86.75

Euro

1

Rs.68.32

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.