MIRA INFORM REPORT

 

 

Report Date :

22.12.2012

 

IDENTIFICATION DETAILS

 

Name :

MEDITERRANEAN POWER ELECTRIC COMPANY LIMITED

 

 

Registered Office :

A 18B, Industrial Estate, MRS 3000 Marsa

 

 

Country :

Malta

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

31.08.1977

 

 

Com. Reg. No.:

C 3762 Valletta

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of electricity distribution and control apparatus

 

 

No. of Employees :

49 employees

 

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 – June 30th, 2012

                                                   

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Malta

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Malta - ECONOMIC OVERVIEW

 

Malta produces only about 20% of its food needs, has limited fresh water supplies, and has few domestic energy sources. Malta's geographic position between Europe and North Africa makes it a target for illegal immigration, which has strained Malta's political and economic resources. Malta's fertility rate is below the EU average, and population growth in recent years has largely been from immigration, putting increasing pressure on the pension system. Malta adopted the euro on 1 January 2008. Malta's economy is dependent on foreign trade, manufacturing, and tourism, and was hurt by the global economic downturn. Malta has low unemployment relative to other European countries, and growth has recovered since the 2009 recession. Malta's financial services industry has grown in recent years and in 2008-09 it escaped significant damage from the international financial crisis, largely because the sector is centered on the indigenous real estate market and is not highly leveraged and the banking system is closely regulated. Fiscal stimulus measures contributed to a deterioration in Malta's public finances in 2011, leading the EU to warn Malta that it would risk sanctions if it failed to bring its deficit and debt levels within EU guidelines. Moody's downgraded Malta's sovereign credit rating in September 2011.

 

Source CIA

 

 

 

 

 

company Name & Address

 

Correct Registered Name:

MEDITERRANEAN POWER ELECTRIC COMPANY LIMITED

 

Address:

A 18B, Industrial Estate
MRS 3000 Marsa MALTA

 

Telephone:

+356-21232373
+356-00356-21220771
+356-00356-21221497

 

Fax:

+356-21220128

 

Email:

info@mpe.com.mt

 

Web:

www.mpe.com.mt

 

Business address:

A 18B, Industrial Estate
MRS 3000 Marsa MALTA

 

 

 

 

Payment

 

PAYMENT HABITS:

No Complaints

 

Comment:

A check against all available information souced revealed that no late payment incidents against Subject Company exist.

 

Good For Amount & Terms Of Inquiry:

Nothing adverse is reported; the Company is considered as a sovereign trade risk, the company is held to be reliable for amount requested of Eur 1,200,000.

 

 

Commercial Morality:

Good

 

Financial Strength:

Good

 

 

 

Legal Status

 

Legal Form:

Private Limited Liability Company

 

Private Limited Liability A private limited liability company is one that, in its constitutive document, restricts the rights to transfer shares, limits the number of its members to fifty and prohibits any invitation to the public to subscribe for any shares or debentures of the company.

 

Registration number and city:

C 3762 VALLETTA

 

Registration date:

31.08.1977

 

Present Style Adopted on:

31.08.1977

 

National ID: C 3762 
VAT number: MT10771410

 

 

 

Company Status

 

Registration status: 31.08.1977 - registered company
Activity status: 31.08.1977 - Company is active

 

 

 

Principals

 

Shareholders

 

Full Name

Personal ID

Function

Nationality

Equity

Address

THE LIBYAN ARAB MALTESE HOLDING COMPANY LIMITED
Registration: No. C 3215, 18.11.1975, MFSA, TRIQ NOTABILE, BIRKIRKARA, MALTA

Shareholder

40.00%
170,000 Ordinary - B
30,000 Ordinary - D

ST. MARK HSE, F. X. FENECH STREET
FLORIANA MALTA

LIBYAN ARAB FOREIGN INVESTMENT COMPANY
Registration: No. OC71, MALTA

Shareholder

29.00%
145,000 Ordinary - C

7, Dar Al Estithmar, Triq Albert Laferla
SAN GWANN MALTA

Hawker Siddeley Switchgear Limited 
Registration: No. FC C3762, UNITED KINGDOM

Shareholder

26.00%
130,000 Ordinary - A

THE GOVERNMENT OF MALTA
Registration: MALTA

Shareholder

5.00%
25,000 Ordinary - C

 

Management

Full Name

Personal ID

Age

Function

Nationality

Qualification

Experience

Address

Stephen Michael Dymond

205282386

Director

UNITED KINGDOM

Not disclosed

Not disclosed

CWM Gelli, Blackwood, Rushmere, 13 Coed Gelli Parc
NP12 1GS South Wales UNITED KINGDOM

Mr. Luay Clement Toma

007192986

Director

UNITED KINGDOM

Not disclosed

Not disclosed

Hogarth House, Bray Road
SL6 1UQ BERKSHIRE UNITED KINGDOM

YOUSEF ETWEBI ADEL BASHIR

Director

LIBYAN ARAB JAMAHIRIYA

Not disclosed

Not disclosed

AL-YAH AJAMEA
TRIPOLI LIBYAN ARAB JAMAHIRIYA

MOFTAH ALI SULIAMAN ABDULLAH

305944

Director

LIBYAN ARAB JAMAHIRIYA

Not disclosed

Not disclosed

JANZOUR
TRIPOLI LIBYAN ARAB JAMAHIRIYA

MOFTAH ALI SULIAMAN ABDULLAH

305944

Legal representative

LIBYAN ARAB JAMAHIRIYA

Not disclosed

Not disclosed

JANZOUR
TRIPOLI LIBYAN ARAB JAMAHIRIYA

MOFTAH ALI SULIAMAN ABDULLAH

305944

Judicial Representative

LIBYAN ARAB JAMAHIRIYA

Not disclosed

Not disclosed

JANZOUR
TRIPOLI LIBYAN ARAB JAMAHIRIYA

Dr. Joseph Borg Bartolo

171567M

45

Secretary

MALTA

Not disclosed

Secretary MEDITERRANEAN POWER ELECTRIC COMPANY LIMITED, Company�s Official Secretary MEDITERRANEAN POWER ELECTRIC SERVICES LTD

St. Domnic Street, No. 6, Alley 2
Attard MALTA

JESMOND PACE

595563M

49

Director

MALTA

Not disclosed

Not disclosed

42, PARSOTTA, TRIQ IL-GNIEN
NAXXAR MALTA

FAUZI EMHEMED KHALIFA ELWALDA

Director

LIBYAN ARAB JAMAHIRIYA

Not disclosed

Not disclosed

TRIQ IL-PELLIKAN, VILLA MADONNA DELLE LACRIME
SAN GWANN MALTA

Dr. Scicluna Joseph Caruana

742753M

59

Secretary

MALTA

Not Disclosed.

Not Disclosed.

The Haven, 91, Triq is-Sidra
Swieqi MALTA

PETER PAUL BUGEJA

264070M

42

Director

MALTA

Not disclosed

Not disclosed

32, TRIQ PAWLU BORG
ATD2630 ATTARD MALTA


PLEASE NOTE OTHER DIRECTOR'S INVOLVEMENTS:

Luay Cleement Toma, British I.D. 007192986 is also involved in:

MEDITERRANEAN POWER ELECTRIC SERVICES LTD - C 28113 
Director 

Stephen Michael Dymond is also involved in:

MEDITERRANEAN POWER ELECTRIC SERVICES LTD - C 28113 
Director 

FAUZI EMHEMED KHALIFA ELWALDA is involved in:

BIM LIMITED - C 475 
Director 

LIBYAN MALTESE INVESTMENT COMPANY LIMITED - C 2591 
Director 
Legal Representative 
Judicial Representative 

THE LIBYAN ARAB MALTESE HOLDING COMPANY LIMITED - C 3215 
Director 

MEDELEC SWITCHGEAR LIMITED - C 3814 
Director 

MILANO DUE LIMITED - C 10077 
Director 
Legal Representative 
Judicial Representative 

VIVALDI HOTEL (OPERATIONS) LIMITED - C 24056 
Director 
Legal Representative 
Judicial Representative 

PETER PAUL BUGEJA is involved in:

BIM LIMITED - C 475 
Director 

LIBYAN MALTESE INVESTMENT COMPANY LIMITED - C 2591 
Director 
Legal Representative 
Judicial Representative 

MEDELEC SWITCHGEAR LIMITED - C 3814 
Director 

MILANO DUE LIMITED - C 10077 
Director 
Legal Representative 
Judicial Representative 

SWISSQUOTE EUROPE LTD - C 57936 
Secretary 

THE LIBYAN ARAB MALTESE HOLDING COMPANY LIMITED - C 3215 
Director 
Legal Representative 
Judicial Representative 

VIVALDI HOTEL (OPERATIONS) LIMITED - C 24056 
Director 
Legal Representative 
Judicial Representative 

JESMOND PACE is involved in:

ACEBIT TRANS LIMITED - C 38325 
Director 
Legal Representative 
Judicial Representative 

BIM LIMITED - C 475 
Director 

D-LEE PRODUCTIONS LTD - C 43908 
Secretary 

FACT HOLDINGS LTD - C 46523 
Director 
Secretary 
Legal Representative 
Judicial Representative 

FACT Technologies Limited - C 58224 
Director 
Secretary 
Legal Representative 
Judicial Representative 

FISH WISH PRODUCTIONS LIMITED - C 39955 
Director 
Secretary 
Legal Representative 
Judicial Representative 

INTERNATIONAL WRITERS INSTITUTE LIMITED - C 55040 
Director 
Secretary 
Legal Representative 
Judicial Representative 

JANUSIMAGES LIMITED - C 45826 
Secretary 

MILANO DUE LIMITED - C 10077 
Director 
Legal Representative 
Judicial Representative 

SASEKAPA LTD - C 36462 
Secretary 

THE LIBYAN ARAB MALTESE HOLDING COMPANY LIMITED - C 3215 
Director 

THORNAPPLE INVESTMENTS LTD - C 40124 
Director 
Secretary 
Legal Representative 
Judicial Representative 

TRISMA LIMITED - C 43751 
Director 
Legal Representative 
Judicial Representative

 

 

Activities

 

Activities:

Manufacturers & Exporters

 

Operations:

NACE
  2712 Manufacture of electricity distribution and control apparatus


SIC
  3613 Switchgear and Switchboard Apparatus
  3629 Electrical Industrial Apparatus, NEC

The group's principal activity is the manufacture of electrical distribution switchgear to carry out export trading operations.

To manufacture and export, sell or otherwise deal in all types of electrical mechanical and electronic components, machines tools and equipment.

The company’s clientele includes Industrial Companies and Insurance Companies. 

The company was awarded quality certification ISO – 9001 in 1999.

Industry Classification - NAICS
Switchgear and Switchboard Apparatus Manufacturing (NAICS #335313)

Detailed Description of Industry Classification:
Switchgear and Switchboard Apparatus Manufacturing (NAICS #335313)
This U.S. industry comprises establishments primarily engaged in manufacturing switchgear and switchboard apparatus. Manufacturing relays--are classified in U.S. Industry 335314, Relay and Industrial Control Manufacturing; Manufacturing switches for electronic applications--are classified in U.S. Industry 334419, Other Electronic Component Manufacturing; and Manufacturing snap, pushbutton, and similar switches for electrical circuits--are classified in U.S. Industry 335931, Current-Carrying Wiring Device Manufacturing.

 

 

Motor Vehicles

 

This information is not available.

 

 

Imports

 

EUROPE
Payment terms: 
L/C Base (Letter of Credit)
Special Agreements


Imports from France and UK, Belgium and Other European countries

 

 

Exports

 

 

LIBYAN ARAB JAMAHIRIYA
Payment terms: 
O/A (Open Account)
Special Agreements

 

 

Agencies

 

Name

Country

Product

Groupe Schneider

FRANCE

moulded case circuit Breakers

Terasaki (Europe) Ltd

UNITED KINGDOM

 

 

Trade Suppliers

 

Name

Country

Product

Groupe Schneider Malta/Libya representative Mr Riadh Chekili

Terasaki (Europe) Ltd

South Wales Transformers Ltd

UNITED KINGDOM

Tozzisud Spa

ITALY

 

 

Workforce

 

Number Of Employees:

49

 

 

Description Of Premises

 

Address:

A 18B, Industrial Estate
MRS 3000 Marsa MALTA

Type of premises:

Production Plant

Size:

3900 Sq. Metres

Type of ownership:

rented

Area:

Industrial Area

 

Headquarters:

Premises are situated in an Industrial Area, in Marsa city of Malta. Premises comprised of offices and the production plant.

 

 

Related Companies

 

Associated Company
BIM LIMITED , MALTA , National ID: C 475

Affiliated Company
CORINTHIA PALACE HOTEL COMPANY LIMITED , MALTA , National ID: C257

Affiliated Company
Mediterranean Aviation Company Limited , MALTA , National ID: C 4145

Subsidiary Company
MEDITERRANEAN POWER ELECTRIC SERVICES LTD , MALTA , National ID: C28113

Associated Company
Milano Due Ltd , MALTA , National ID: C 10077

PLEASE NOTE BRIEF INFORMATION ON RELATED COMPANIES:

Registration No. C 28113 
Company Name MEDITERRANEAN POWER ELECTRIC SERVICES LTD 
Registration Date Apr 30, 2001 
Registered Office A18B,
INDUSTRIAL ESTATE, 
City/Locality MARSA 

Registration No. C 257 
Company Name CORINTHIA PALACE HOTEL COMPANY LIMITED 
Registration Date Jun 21, 1966 
Registered Office 22, EUROPA CENTRE
City/Locality FLORIANA FRN 1400 

Registration No. C 475 
Company Name BIM LIMITED 
Registration Date Jun 17, 1966 
Registered Office INDUSTRIAL ESTATE,
City/Locality MARSA 

Registration No. C 10077 
Company Name MILANO DUE LIMITED 
Registration Date Nov 14, 1988 
Registered Office 'ST. MARK'S HOUSE'
F.X FENECH STREET, 
City/Locality FLORIANA 

Registration No. C 4145 
Company Name MEDITERRANEAN AVIATION COMPANY LIMITED 
Registration Date Aug 21, 1978 
Registered Office MEDAVIA HANGAR,
TAL-KARWIJA 
City/Locality SAFI 

 

 

 

Bankers

 

Bank of Valletta plc
Race Course, Marsa, Malta

HSBC BANK MALTA plc
233, Republic Street, Valletta, Malta


Bank accounts are not disclosed.

 

 

Press

 

11.03.2011, Times of Malta
Crisis risks impacting economic growth


Economic growth forecasts for this year could be blown off course if the turmoil in Libya persists for months, according to an economist.

With exports to Libya valued at €85.6 million, the North African state was the fourth most important trading partner outside the EU last year, accounting for almost four per cent of outward trade flows.

The amount could be below popular expectation but the significance of Libya as a trading partner is borne by the fact that Malta exports more than it imports from the North African country.

Libya is one of only four countries, the others being Singapore, Japan and the US, with which Malta has a trade surplus, in this case amounting to €50.9 million.

However, Libyan unrest risks not only disrupting trade but could also affect Maltese investment in the country and a number of well-paid jobs. This multi-faceted impact has economists worried.

“In the worst case scenario where the fighting would drag on for months, I fear the impact of the Libyan crisis on our GDP would be higher than the government’s projected growth for this year,” economist Karm Farrugia said, pointing out trade was only one aspect of the equation.

“Lack of earnings for employees who worked in Libya and loss of profitability for companies that have invested in the country will have an impact on GDP as well,” Mr Farrugia said.

The situation could become more complicated for some Maltese companies partly-owned by the Libyan government’s investment arm in view of additional sanctions imposed by the EU on the Libyan regime.

Although under the sanctions these companies could still continue with their normal operations they could face restrictions when raising capital from banks, according to former Central Bank governor Francis Vassallo.

“If the bank evaluates that the company’s operation on its own is not enough to secure financing and the bank has to rely on the shareholders then the company may face difficulty to raise capital,” Mr Vassallo explained.

Any dividends due to shareholders on the sanctions list, he added, would have to be frozen but this would not impact normal operations.

He described the sanctions as a serious mechanism to control global cash flows that might be used by the Libyan government for illicit purposes.

The EU is expected to officially announce fresh sanctions today in a bid to freeze the assets of the Libyan Investment Authority, the Libyan Arab Foreign Investment Company (Lafico) and the Libyan Central Bank after UN sanctions froze the assets of Libyan leader Muammar Gaddafi and his family.

The Maltese government and Lafico jointly own the Libyan Arab Maltese Holding Company (LAMHC), which, in turn, has a number of subsidiary companies in Malta.

The joint company wholly owns Milano Due Ltd, the operators of a hotel in Gżira, and is the majority shareholder in Vivaldi Hotels (Operations) Ltd, which runs a hotel in Paceville.

The jointly-owned holding company is also the majority shareholder in BIM Ltd, a steel fabrication services and furniture company situated in Marsa.

LAMHC has a 40 per cent stake in the manufacturing companies Medelec Switchgear and Mediterranean Power Electric, respectively.

There are other Maltese companies in which Lafico has direct shareholding including aviation company Medavia and international hotel chain Corinthia.

The Chamber of Commerce, Enterprise and Industry on Wednesday urged European Commission president José Manuel Barroso to set up structures and mechanisms that provided “concrete and support” to Euro-Med countries facing considerable difficulties because of the situation in North Africa.

The Chamber expressed concern since some companies in Europe and Malta specialised and developed their markets in North Africa to such an extent they had become highly dependent on them.

For how long the conflict will drag on is uncertain for the time being but according to Mr Farrugia an early resolution could turn out to be good for business in the long term.

“Libyans would want to better their standard of living to address some of the issues that caused the protests and this could lead to more spending, which may lead to higher exports from Malta, more investment and work opportunities,” he said.

 

 

Auditors / Accountants

 

Auditor: David A. Valencia
Date: 31.12.2011
Financials have been audited
Company: PRICEWATERHOUSECOOPERS, 167, Merchants Street, Valletta, Malta

 

 

Share Capital

 

Registered capital:

EUR 1,164,686.50

Number of Ordinary - A:

130,000

Value per share of Ordinary - A:

EUR 2.33

Number of Ordinary - B:

170,000

Value per share of Ordinary - B:

EUR 2.33

Number of Ordinary - C:

200,000

Value per share of Ordinary - C:

EUR 2.33

 

Issued capital:

EUR 1,164,686.50

Number of Ordinary - A:

130000

Value per share of Ordinary - A:

EUR 2.33

Number of Ordinary - B:

170000

Value per share of Ordinary - B:

EUR 2.33

Number of Ordinary - C:

200000

Value per share of Ordinary - C:

EUR 2.33

 

Paid-up capital:

EUR 1,164,686.50


As from 1 January 2008 the local currency is the Euro and no longer the Malta Lira – for conversion purposes the exchange rate is 2.329373 to 1 Malta Lira. 

Nominal value: €2.329373
Share description: Capital is made up of: 
130,000 Ordinary 'A' shares, 
170,000 Ordinary 'B' shares, 
170,000 Ordinary 'C' shares and 
30,000 Ordinary 'D' shares. 

Each share is entitled to one vote.

 

 

Charges

 

This information is not available.

 

 

Finance

 

Amounts shown in Euro (EUR) 

01.01.2011-31.12.2011

01.01.2010-31.12.2010

01.01.2009-31.12.2009

2008



PROFIT & LOSS

 

Sales Turnover

5,450,367.00

5,747,020.00

6,911,286.00

7,832,746.00

 

Cost of Sales

-4,742,631.00

-4,465,558.00

-4,737,291.00

-5,738,739.00

 

Gross Profit

707,736.00

1,281,462.00

2,173,995.00

2,094,007.00

 

Other Operating Income

 

 

200,130.00

 

 

Administrative Expenses

-559,620.00

-594,691.00

-535,387.00

-557,082.00

 

Other Operating Expenses

-15,317.00

-23,728.00

 

-22,753.00

 

Operational Profit

132,799.00

663,043.00

1,838,738.00

1,514,172.00

 

Finance Costs

-162,103.00

160,261.00

-160,191.00

-82.00

 

Financial Income

824,767.00

3,370,836.00

21,263.00

39,017.00

 

Profit Before Taxation

795,463.00

3,873,618.00

1,699,810.00

1,553,107.00

 

Corporate Income Tax

 

 

 

-152,144.00

 

Net Profit or Loss for the year

 

 

 

1,400,963.00

 

Taxation

-197,156.00

-889,983.00

-427,768.00

 

 

Profit for the year

598,307.00

2,983,635.00

1,272,042.00

 



BALANCE SHEET

 

Property, Plant & Equipment

258,000.00

322,538.00

375,016.00

448,591.00

 

Investment in Affiliated and Associated Units

11,647.00

11,647.00

11,647.00

11,647.00

 

Investment Property

35,137.00

36,676.00

38,200.00

42,911.00

 

Investments Avaialable for Sales

53,865.00

69,270.00

55,589.00

41,536.00

 

Total Fixed Assets

358,649.00

440,131.00

480,452.00

559,125.00

 

Inventory / Stock

1,008,609.00

1,956,697.00

1,317,653.00

1,009,902.00

 

Trade Debtors (receivables from customer)

6,695,878.00

5,197,467.00

5,245,958.00

5,015,537.00

 

Taxation Receivable

646,897.00

348,193.00

 

25,278.00

 

Cash in Hand & at Bank

1,687,583.00

2,370,027.00

2,229,361.00

2,132,575.00

 

Total Current Assets

10,038,967.00

9,872,384.00

8,792,972.00

8,183,292.00

 

Deferred Taxation

59,189.00

53,264.00

15,877.00

14,440.00

 

Total Assets

10,456,805.00

10,365,779.00

9,289,301.00

8,742,417.00

 

Called up share capital (issued capital stock)

1,164,687.00

1,164,687.00

 

 

 

Revaluation Reserves

49,471.00

64,876.00

 

 

 

Other Reserves

 

 

 

37,142.00

 

Profit & Loss Account

4,309,812.00

4,711,505.00

 

2,455,828.00

 

Total Equity

5,523,970.00

5,941,068.00

 

3,657,657.00

 

Long - Term Loans

 

750,000.00

 

2,000,000.00

 

Short - Term Borrowings, Loans

 

 

 

1,128,410.00

 

Issued and Paid Up Capital

 

 

 

1,164,687.00

 

Total Current Liabilities

4,932,835.00

3,674,711.00

 

3,084,760.00

 

Total Equity & Liabilities

10,456,805.00

10,365,779.00

 

8,742,417.00

 

Borrowings

1,500,000.00

750,000.00

 

 

 

Creditors

3,432,835.00

2,924,711.00

 

 

 

Creditors & Accruals

 

 

 

1,956,350.00

 

Total Liabilities

4,932,835.00

4,424,711.00

 

5,084,760.00



OTHER INDICATORS

 

Employees - Total

 

 

 

44.00


Please note that the financial information provided in the report was obtained from official sources.

 

 

GENERAL COMMENTS

 

Mediterranean Power Electric Co. Ltd, MPE, was set up in 1977 as joint venture between Maltese, Libyan and British parties for the fabrication of Low Voltage Switchgear. 

We have contacted the Company and sent an email. To date no reply has been received.

All information in this report was obtained from the company registry and other local sources. 

Court Information & Defaulting Debts:
No records of any Court information and defaulting debts, related to the company in question, were found.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.07

UK Pound

1

Rs.89.54

Euro

1

Rs.72.77

 

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.