MIRA INFORM REPORT

 

 

Report Date :

17.08.2012

 

IDENTIFICATION DETAILS

 

Name :

GUNVOR SINGAPORE PTE. LTD.

 

 

Registered Office :

2 Battery Road #30-00 Maybank Tower Singapore 049907

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

15.05.2006

 

 

Com. Reg. No.:

200606959K

 

 

Legal Form :

Limited Private Company

 

 

line of business :

Wholesale of Mineral Fuels And Lubricants

 

 

No. of Employees :

Not Available

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company Name:

Registered Number:

GUNVOR SINGAPORE PTE. LTD.

200606959K

 

Date Incorporated:

Registered Office:

Telephone Number:

15/05/2006

2 BATTERY ROAD #30-00 MAYBANK TOWER SINGAPORE 049907

6496 9900

Age of Company:

Website:

Industry Type:

6

NA

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

The entity is paying current to the creditors

No. of Charges(s):
27

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

7

Holding Company:

GUNVOR GROUP LTD

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

1

 

EXECUTIVE SUMMARY

 

Company Name

:

GUNVOR SINGAPORE PTE. LTD.

Registration No

:

200606959K

Date of Registration

:

15/05/2006

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

2 BATTERY ROAD #30-00 MAYBANK TOWER SINGAPORE 049907

Date of Change of Address

:

08/07/2008

Contact No.

:

6496 9900

Fax No.

:

6223 3156

Website

:

NA

Registered Activities

:

1. WHOLESALE OF MINERAL FUELS AND LUBRICANTS

2. WHOLESALE OF SOLID, LIQUID AND GASEOUS FUELS AND RELATED PRODUCTS NEC (EG BITUMEN)

Issued Ordinary Capital*

:

$1,000,001.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,000,001

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,001.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

NA

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

1

No. of Local Associates

:

NA

Auditor

:

PRICEWATERHOUSECOOPERS LLP

Bankers / Financiers

:

NATIONAL AUSTRALIA BANK LIMITED

BNP PARIBAS (SUISSE) SA

THE ROYAL BANK OF SCOTLAND N.V.

SOCIETE GENERALE

RAIFFEISEN BANK INTERNATIONAL AG

FIRST GULF BANK PJSC

BANK OF CHINA LIMITED

FORTIS BANK (NEDERLAND) N.V. SINGAPORE BRANCH

UNITED OVERSEAS BANK LIMITED

SUMITOMO MITSUI BANKING CORPORATION

NATIXIS

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.("RABOBANK NEDERLAND")

BNP PARIBAS

FORTIS BANK S.A./N.V.

ING BANK N.V.

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK

Turnover

:

SGD - SIN 26,181,304,638.00 (FY2011)

Net Worth

:

SGD - SIN 175,401,499.00 (FY2011)

No. of Bank Charges

:

27

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

21 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

787 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2010/2011)

265 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

30 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

106 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

GUNVOR GROUP LTD

SHAREHOLDER ID

:

T06UF1937G

NATIONALITY

:

NA

ADDRESS

:

48 THEMISTOCLES DERVIS STREET,ATHIENITIS CENTENNIAL BUILDING SUITE 501, 1066 NICOSIA, CYPRUS

NO. OF ORD SHARES

:

1,000,001

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

TIMOTHY COWPER LEGGE

ADDRESS

:

8, CHEMIN DE LA MOETTE, 1257 CROIX-DE-ROZON GENEVA, SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

24/09/2009

NATIONALITY

:

BRITISH

I/C PASSPORT

:

704967315

 

NAME

:

JACQUES RAYMOND ERNI

ADDRESS

:

CHEMIN DES MARGUERITES 5, 1009 PULLY SUISSE

POSITION

:

DIRECTOR

DATE OF APPT

:

01/07/2010

NATIONALITY

:

SWISS

I/C PASSPORT

:

F0541358

 

NAME

:

JEROEN HENDRIKJAN MAARTEN SCHURINK

ADDRESS

:

15 CHEMIN LADAME, 1226 THONEX SWITZERLAND

POSITION

:

DIRECTOR

DATE OF APPT

:

23/07/2008

NATIONALITY

:

SWISS

I/C PASSPORT

:

F3660806

 

NAME

:

MURIEL ANOUK SCHWAB

ADDRESS

:

80 MOHAMED SULTAN ROAD #03-08 SINGAPORE 239013

POSITION

:

DIRECTOR

DATE OF APPT

:

01/08/2012

NATIONALITY

:

SWISS

I/C PASSPORT

:

G6220495N

 

NAME

:

LIAN KIM SENG

ADDRESS

:

33 WEST COAST RISE #12-23 MONTEREY PARK CONDOMINIUM SINGAPORE 127476

POSITION

:

SECRETARY

DATE OF APPT

:

01/11/2006

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2586702E

 

NAME

:

LA CHON JULIEN

ADDRESS

:

9 NASSIM ROAD #04-02 SINGAPORE 258376

POSITION

:

DIRECTOR

DATE OF APPT

:

01/05/2007

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7281847D

 

NAME

:

LEE TJUN KHUN

ADDRESS

:

98 COMMONWEALTH CRESCENT #03-46 SINGAPORE 140098

POSITION

:

DIRECTOR

DATE OF APPT

:

17/10/2011

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S7377891C

 

 

KEY PERSONNEL PROFILE

 

Name:

LA CHON JULIEN

NRIC Number:

S7281847D

Available Address:

12 NASSIM ROAD #04-08 BEAUFORT ON NASSIM  SINGAPORE 258380

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

CLEARLAKE SHIPPING PTE. LTD.

DIRECTOR

18/04/2011

-

-

2

GUNVOR SINGAPORE PTE. LTD.

DIRECTOR

01/05/2007

-

-

3

GUNVOR SINGAPORE PTE. LTD.

MANAGING DIRECTOR

01/05/2007

-

-

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

ADDAX ASIA PTE. LIMITED

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

22/06/2005

05/04/2012

2

SORYX PTE. LTD.

STRUCK OFF

DIRECTOR

31/07/2007

-

 

Bankruptcy Record

 

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

Litigation Search – Writ of Summons

 

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

M

8908

-

2010

08/04/2010

SGD 2,374.72

Negligence Related

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

CORAL CAY PTE. LTD.

100

 

           

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 27 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201208504

 

Date of Registration

:

27/07/2012

 

Chargee

:

NATIONAL AUSTRALIA BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

5 TEMASEK BOULEVARD #15-01 SUNTEC TOWER FIVE SINGAPORE 038985

 

2)

Charge No.

:

C201115663

 

Date of Registration

:

14/12/2011

 

Chargee

:

BNP PARIBAS (SUISSE) SA

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

3)

Charge No.

:

C201114842

 

Date of Registration

:

25/11/2011

 

Chargee

:

BNP PARIBAS (SUISSE) SA

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

4)

Charge No.

:

C201114400

 

Date of Registration

:

15/11/2011

 

Chargee

:

THE ROYAL BANK OF SCOTLAND N.V.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

5)

Charge No.

:

C201107969

 

Date of Registration

:

01/07/2011

 

Chargee

:

SOCIETE GENERALE

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

6)

Charge No.

:

C201107865

 

Date of Registration

:

29/06/2011

 

Chargee

:

RAIFFEISEN BANK INTERNATIONAL AG

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

7)

Charge No.

:

C201100018

 

Date of Registration

:

03/01/2011

 

Chargee

:

FIRST GULF BANK PJSC

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

8)

Charge No.

:

C201010508

 

Date of Registration

:

04/11/2010

 

Chargee

:

SOCIETE GENERALE

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

9)

Charge No.

:

C201003188

 

Date of Registration

:

16/04/2010

 

Chargee

:

BANK OF CHINA LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

7 TEMASEK BOULEVARD #30-01/02/03 SUNTEC CITY TOWER 1 SINGAPORE 038987

 

10)

Charge No.

:

C201001406

 

Date of Registration

:

12/02/2010

 

Chargee

:

FORTIS BANK (NEDERLAND) N.V. SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

11)

Charge No.

:

C201001145

 

Date of Registration

:

04/02/2010

 

Chargee

:

FORTIS BANK (NEDERLAND) N.V. SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

12)

Charge No.

:

C201000440

 

Date of Registration

:

13/01/2010

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

13)

Charge No.

:

C201000304

 

Date of Registration

:

11/01/2010

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

14)

Charge No.

:

C201000246

 

Date of Registration

:

08/01/2010

 

Chargee

:

SUMITOMO MITSUI BANKING CORPORATION

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 TEMASEK AVENUE #06-01 CENTENNIAL TOWER SINGAPORE 039190

 

15)

Charge No.

:

C201000245

 

Date of Registration

:

08/01/2010

 

Chargee

:

SUMITOMO MITSUI BANKING CORPORATION

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 TEMASEK AVENUE #06-01 CENTENNIAL TOWER SINGAPORE 039190

 

16)

Charge No.

:

C201000244

 

Date of Registration

:

08/01/2010

 

Chargee

:

SUMITOMO MITSUI BANKING CORPORATION

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 TEMASEK AVENUE #06-01 CENTENNIAL TOWER SINGAPORE 039190

 

17)

Charge No.

:

C200902419

 

Date of Registration

:

24/04/2009

 

Chargee

:

NATIXIS

 

Amount Secured  and Currency

:

All Monies

 

Address

:

50 RAFFLES PLACE #41-01 SINGAPORE LAND TOWER SINGAPORE 048623

 

18)

Charge No.

:

C200902417

 

Date of Registration

:

24/04/2009

 

Chargee

:

NATIXIS

 

Amount Secured  and Currency

:

All Monies

 

Address

:

50 RAFFLES PLACE #41-01 SINGAPORE LAND TOWER SINGAPORE 048623

 

19)

Charge No.

:

C200900151

 

Date of Registration

:

06/01/2009

 

Chargee

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.("RABOBANK NEDERLAND")

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

20)

Charge No.

:

C200900150

 

Date of Registration

:

06/01/2009

 

Chargee

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.("RABOBANK NEDERLAND")

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

21)

Charge No.

:

C200808346

 

Date of Registration

:

08/09/2008

 

Chargee

:

SOCIETE GENERALE

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

22)

Charge No.

:

C200808345

 

Date of Registration

:

08/09/2008

 

Chargee

:

SOCIETE GENERALE

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

23)

Charge No.

:

C200803161

 

Date of Registration

:

04/04/2008

 

Chargee

:

BNP PARIBAS

 

Amount Secured  and Currency

:

All Monies

 

Address

:

20 COLLYER QUAY #01-01 TUNG CENTRE SINGAPORE 049319

 

24)

Charge No.

:

C200802211

 

Date of Registration

:

04/03/2008

 

Chargee

:

FORTIS BANK S.A./N.V.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

63 MARKET STREET #21-00 SINGAPORE 048942

 

25)

Charge No.

:

C200802210

 

Date of Registration

:

04/03/2008

 

Chargee

:

FORTIS BANK S.A./N.V.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

63 MARKET STREET #21-00 SINGAPORE 048942

 

26)

Charge No.

:

C200710031

 

Date of Registration

:

16/11/2007

 

Chargee

:

ING BANK N.V.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

9 RAFFLES PLACE #19-02 REPUBLIC PLAZA SINGAPORE 048619

 

27)

Charge No.

:

C200709638

 

Date of Registration

:

07/11/2007

 

Chargee

:

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

28/04/2012

Date of Last AR

:

07/05/2012

Date of A/C Laid At Last AGM

:

31/12/2011

 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

 

Note:

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

 

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

 

For more information: www.acra.gov.sg/compliance

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2011

% Change

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

26,181,304,638

51.19

17,316,572,005

9,904,032,083

3,129,900,709

0

Profit/(Loss) Before Tax

87,422,848

142.65

36,027,688

94,364,939

26,980,953

(1,925,435)

Profit After Tax attributable

 to Shareholders

79,174,760

147.88

31,941,281

84,471,520

24,324,070

(1,925,435)

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

2,868,378,710

76.07

1,629,087,819

1,665,290,349

93,359,340

1,079,426

Current Assets

2,866,988,626

76.22

1,626,910,592

1,664,467,688

92,588,200

544,514

Non Current Assets

1,390,084

-36.15

2,177,227

822,661

771,140

534,912

 

 

 

 

 

 

 

Total Liabilities

2,692,977,211

77.40

1,517,986,377

1,580,639,558

70,609,910

2,756,339

Current Liabilities

2,692,977,211

77.40

1,517,986,377

1,580,639,558

70,609,910

2,756,339

Non Current Liabilities

0

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

175,401,499

57.88

111,101,441

84,650,789

22,749,429

(1,676,913)

Share Capital

902,440

-7.74

978,132

240,669

233,365

248,522

Total Reserves

174,499,059

58.46

110,123,309

84,410,120

22,516,064

(1,925,435)

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

51.19

74.84

216.43

NA

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.30

0.18

0.85

0.78

0.00

Return on Equity (%)

45.14

28.75

99.79

106.92

114.82

Return on Assets (%)

2.76

1.96

5.07

26.05

-178.38

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

15.35

13.66

18.67

3.10

-1.64

Current Debt/Equity (Times)

15.35

13.66

18.67

3.10

0.00

Long Term Debt To Equity (Times)

0.00

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

16.35

14.66

19.67

4.10

-0.64

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

9.13

10.63

5.95

33.53

0.00

Fixed Assets Turnover (Times)

18,834.33

7,953.50

12,039.02

4,058.80

0.00

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.06

1.07

1.05

1.31

0.20

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 0.30 per cent in FY11 (FY10: 0.18 per cent). The company is now able to book in SGD - SIN 0.00 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.00 a year ago.

 

Liquidity

Current ratio stood at 1.06 times in FY11 (FY10: 1.07 times). This means that the company has SGD - SIN 1.06 of current assets for every SGD - SIN of current liability incurred.

 

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

 

 

FINANCIAL COMMENTARY

 

Leverage

Total debt-to-equity ratio notched 15.35 times in FY11, compared with 13.66 times in FY10. This means that the company requires additional external financing of SGD - SIN 15.35 for every SGD - SIN injected into its operations.

 

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

 

 

Efficiency Ratio

 

Return on equity was 45.14 per cent for Subject in the current financial period, as compared to 28.75 per cent a year ago. The return on equity measures the return earned on the owner's investment.  Generally, the higher this return, the better off the owner.

 

Return on assets stood at 2.76 per cent (FY10: 1.96 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

Total assets turnover ratio logged at 9.13 times in FY11 (FY10: 10.63 times). This ratio measures the company's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.99

UK Pound

1

Rs.87.55

Euro

1

Rs.68.69

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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

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NB

New Business

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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.