MIRA
INFORM REPORT
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Report Date : |
04.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
FELDA MARKETING SERVICES SDN. BHD. |
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Registered Office : |
5th Floor, Balai Felda Kuala Lumpur Wilayah Persekutuan 54000 |
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Country : |
Malaysia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.08.1995 |
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Com. Reg. No.: |
353807-M |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Marketing of Felda Holdings Bhd. Group of companies commodity products and collection of revenues on their behalf and physical trading of crude palm oil and crude palm kernel oil. |
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No. of Employees : |
64 employees (Subject) |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9,500,000 |
|
Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Malaysia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
IDENTIFICATION DETAILS
Verified Address
Subject name : FELDA MARKETING SERVICES SDN. BHD.
Business address : 5th Floor, Balai Felda
Jalan Gurney Satu Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 54000
Country : Malaysia
Tel : +60 3 26005888
Fax : +60 3 26928569
Email : fmssb@felda.net.my
Website : www.feldaholdings.com
Registered address : C/o FELDA PALM INDUSTRIES SDN. BHD.
3th Floor, Balai Felda
Jalan Gurney Satu
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 54000
Country : Malaysia
SUMMARY DETAILS
Executive Summary
Date founded or registered : 03/08/1995
Legal form : Private Company Limited By Shares
Chief executive : Ehsan Bahauddin
Issued & paid up capital : MYR 17,000,000
Sales turnover : MYR 537,532,265 (Non-consolidated 12 months, 31/12/2010)
Net income : MYR 73,819,941 (Non-consolidated 12 months, 31/12/2010)
Total fixed assets : MYR 287,659,506 (Non-consolidated 12 months, 31/12/2010)
Line of business : Marketing of Felda Holdings Bhd. Group of companies commodity products and collection of revenues on their behalf and physical trading of crude palm oil and crude palm kernel oil.
Staff employed : 64 employees (Subject)
CREDIT RISK OPINION
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is booming
Management experience : Management is adequately experienced
Financial performance : Financial performance is very good
Organization structure : Organizational structure is consistent
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 9,500,000
Credit amount asked : Not described.
Comments : Larger credit can still be considered. The Subject is well positioned in the market and the financial stability of the group is positive.
STATUTORY DETAILS
Registry Data
Registration date : 03/08/1995
Legal form : Private Company Limited By Shares
Registration no 353807-M
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
MANAGEMENT / DIRECTORS
Key Management
Name : Ehsan Bahauddin
Designation : Chief Executive Officer
Name : Mohamad Ghazali Ismail
Designation : General Manager for Services
Name : Ahmad Salman Omar
Designation : General Manager for Trading
Name : Mohamad Idris Ismail
Designation : General Manager for Marketing and Operations
Name : Siti Aishah Abd. Rahman
Designation : Financial Manager
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : R Sharifuddin Hizan Bin R Zainal Abidin
Designation : Director
Identification no : 460121-08-5395
Appointment date : 02/01/08
Address : 7, Lorong 7A Taman Sri Ukay
68000 Ampang Selangor Darul Ehsan Malaysia
Name : Megat Dziauddin Bin Megat Mahmud
Designation : Director
Identification no : 460203-08-5057
Appointment date : 01/02/06
Address : 64, Lengkok Zaaba
Taman Tun Dr.Ismail
60000 Kuala Lumpur Wilayah Persekutuan Malaysia
Name : Dato' Sabri Bin Ahmad
Designation : Director
Identification no : 470520-08-5519
Appointment date : 15/07/10
Address : No 108 Jalan Athinahapan 2
Taman Tun Dr Ismail
60000 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Name : Sarchu Bin Sawal
Designation : Director
Identification no : 490129-01-5495
Appointment date : 03/01/07
Address : 26, Jalan G2
Taman Melawati
53100 Kuala Lumpur Wilayah Persekutuan Malaysia
Name : Khamis Bin Mohamed Som
Designation : Director
Identification no : 490524-01-5313
Appointment date : 14/12/95
Address : No.7262, Taman Seri Setia
Gombak
53100 Kuala Lumpur Wilayah Persekutuan Malaysia
Name : Ramli Bin Putih
Designation : Director
Identification no : 530916-02-5231
Appointment date : 01/02/06
Address : A43 Kampung Tunku Putra
Kelang Lama 09000
Kulim, Kedah
Malaysia
Name : Suhaimi Bin Zainuddin
Designation : Director
Identification no : 540621-08-5041
Appointment date : 03/01/07
Address : 21, Jalan 15
Taman Gombak
68100 Batu Caves Selangor Darul Ehsan Malaysia
Name : Dzulkifli Bin Abd Wahab
Designation : Director
Identification no : 550428-05-5333
Appointment date : 04/01/10
Address : No 8 Jalan AU 5C/2
Lembah Keramat
Hulu Kelang
54200 Kuala Lumpur Wilayah Persekutuan Malaysia
Name : Hanapi Bin Suhada
Designation : Director
Identification no : 570515-05-5575
Appointment date : 04/01/10
Address : No.345, Jalan Seri Pagi 7
Taman Seri Pagi
70400 Seremban Negeri Sembilan Malaysia
Name : Wong Siew Yeen
Designation : Company Secretary
Identification no : 700305-05-5166
Appointment date : 28/10/10
Address : No. 3, Jalan SS 15/5E
47500 Subang Jaya Selangor Darul Ehsan Malaysia
Name : Mazatul Aishah Binti Aziz @ Abdul Aziz
Designation : Company Secretary
Identification no : 701207-05-5108
Appointment date : 01/07/01
Address : No 14 Lorong AU 3/12C Taman Keramat
53200 Kuala Lumpur Wilayah Persekutuan Malaysia
Staff employed : 64 employees (Subject)
Key Advisors
Auditors : PRICEWATERHOUSECOOPERS Level 10, 1 Sentral
Jalan Travers
Kuala Lumpur Sentral
50470 Kuala Lumpur
Malaysia
SHARE CAPITAL
Composition
Authorized Capital :
MYR 25,000,000
No of shares : 25,000,000 Ordinary Shares
Share par value :
MYR 1
Issued capital : MYR 17,000,000
Paid up capital :
MYR 17,000,000
Changed in capital : The Subject increased its share capital
from MYR 8,500,000 to MYR 25,000,000 on 09-01-1997.
OWNERSHIP / SHAREHOLDERS
How listed : Full List
Composition
Shareholder name : FELDA PALM INDUSTRIES SDN. BHD.
Address : 3th Floor, Balai Felda
Jalan Gurney Satu
54000 Kuala Lumpur Wilayah Persekutuan Malaysia
No. of shares : 8,670,000 Ordinary Shares
Shareholder name : KOPERASI PERMODALAN FELDA BERHAD
Address : Bangunan Blok J
Anjung Felda
Jalan Maktab
54000 Kuala Lumpur Wilayah Persekutuan Malaysia
No. of shares : 8,330,000 Ordinary Shares
RELATED COMPANIES &
CORPORATE AFFILIATIONS
Structure
Name : KOPERASI PERMODALAN FELDA BERHAD
Affiliation type : Ultimate Holding Company
Address : Bangunan Blok J Anjung Felda Jalan Maktab
54000 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Comments : Koperasi Permodalan FELDA (KPF) or FELDA Investment Co-operative was established on 1st July 1980 under the ordinance of Cooperative. Its main role is to increase the settlers income through share holdings in the company and was established as an agency for members.
KPFs investment activities are managed professionally and help improve the economy status of members, resulted from savings and investing (dividend/bonus).
Name : FELDA PALM INDUSTRIES SDN. BHD.
Affiliation type : Parent Company
Address : 3th Floor, Balai Felda
Jalan Gurney Satu
54000 Kuala Lumpur Wilayah Persekutuan Malaysia
Comments : Felda Palm Industries Sdn Bhd is the nation's largest miller with 70 palm oil mills all over Malaysia with a total capacity of 3,267 tonnes per hour. It manages the processing of fresh fruit bunches (FFB) into crude palm oil (CPO) and palm kernels.
Incorporation Date: 14 September 1995
Paid Up Capital: RM 202 million
Revenue in FY 2009: RM7.72 billion
Felda Palm Industries Sdn Bhd is the biggest contributor to the Felda Holdings
Bhd Group and underpins its plantation activities.
Name : FELDA HOLDINGS BHD
Affiliation type : Sister Company
Address : 9th Floor
Balai Felda
Jalan Gurney Satu
Kuala Lumpur, 54000
Wilayah Persekutuan
Malaysia
Comments : Felda Holdings Bhd, through its subsidiaries, engages in palm oil business. The company provides plantation development and management, oil palm processing, replanting, agricultural and plantation advisory, and cattle rearing services, as well as produces, refines, markets, and packages oil based products. It also involves
in breeding and trading of biological assets; animal food production; and fresh meat and carcass supply. In addition, the company manufactures rubber, latex concentrate, cocoa powder, cocoa mass, compound fertilizers, and sugar, as well as kernel and oleo chemical products. Further, it involves in the development and management of a hotel and resorts; provision of auxiliary police patrolling and guarding, property development, and construction services; provision of
residential and industrial engineering, and consultancy services; provision of bulk storage tanks for vegetable oils, chemicals, and oleo chemicals; operation of warehouse facilities; and supply of hardware and software solutions to the private sector. The company was formerly known as FELDA Corporate Services Corporation. Felda Holdings Bhd was founded in 1988 and is based in Kuala Lumpur, Malaysia with factories in Malaysia, Thailand, and Indonesia. The company has operations in the United States, Pakistan, China, Sri Lanka, Thailand, and South Africa, as well as in London, the United Kingdom.
Name : FELDA GLOBAL VENTURES HOLDINGS SDN BHD
Affiliation type : Sister Company
Address : 3th Floor, Balai Felda
Jalan Gurney Satu
54000 Kuala Lumpur Wilayah Persekutuan Malaysia
Comments : Felda Global Ventures Holdings Sdn Bhd (Felda Global) is a commercial enterprise focusing on oils and fats, oleochemicals, logistics and services. With operations in 13 countries such as USA, China, Canada, Australia, South Africa and the Middle East, Felda Global is among the worlds largest producers of palm oil, contributing almost 8% in 2009.
The Group comprises 99 companies of which 88 are active. 44 of these come under subsidiary Felda Holdings Bhd, which manages the domestic businesses. It is one of Malaysias largest and most diversified agro-based enterprises whose activities relate to the 880,000-hectare plantation land bank of the Federal Land and Development Authority (FELDA).
Felda Globals main subsidiary company, Felda Holdings Bhd, recorded revenue in excess of RM11.8 billion and a profit before tax of more than RM800 million for the financial year ended 31 December 2009.
Name : FELDA RUBBER INDUSTRIES SDN BHD
Affiliation type : Sister Company
Address : 3th Floor, Balai Felda
Jalan Gurney Satu
54000 Kuala Lumpur Wilayah Persekutuan Malaysia
Comments : Rubber processing operations produced 183,218 tonnes of SMR 10/20, SMR CV
and latex concentrate from 10 factories in Malaysia.
Name : FELDA VEGETABLE OIL PRODUCTS SDN BHD
Affiliation type : Sister Company
Address : 3th Floor, Balai Felda
Jalan Gurney Satu
54000 Kuala Lumpur Wilayah Persekutuan Malaysia
Comments : Felda Vegetable Oil Products Sdn Bhd produces, refines, supplies and distributes a range of products including crude palm oil, crude palm olein, RBD palm oil,
RBD palm olein, RBD Palm Stearin and palm fatty acid distillate, It owns four refineries with a total capacity of 6,350 tonnes per day.
Incorporation Date: 3 August 1995
Paid Up Capital: RM 75 million
Revenue in FY 2010: RM 3,650.0 million
Name : FELDA AGRICULTURAL SERVICES SDN BHD
Affiliation type : Sister Company
Address : 3th Floor, Balai Felda
Jalan Gurney Satu
54000 Kuala Lumpur Wilayah Persekutuan Malaysia
Comments : Felda Agricultural Services Sdn Bhd is the number one in oil palm breeding technology, capturing more than a quarter of the market for oil palm planting materials in the country. Strong R&D produces DxP hybrids and oil palm clones which makes FELDA on award-winning market leader, both in Malaysia and the region. We can produce 20 million seeds annually. Apart from oil palm planting materials, FELDA AGRICULTURAL SERVICES SDN BHD also supply fertilisers, biopesticides (metarhizium) and rat baits; provide laboratory services and agronomic advisory.
Incorporation Date: 3 August 1995
Paid Up Capital: RM 65 million
Revenue in FY 2008: RM 401.7 million
Name : FELDA PLANTATIONS SDN BHD
Affiliation type : Sister Company
Address : 3th Floor, Balai Felda
Jalan Gurney Satu
54000 Kuala Lumpur Wilayah Persekutuan Malaysia
Comments : Felda Plantations Sdn Bhd provides plantation management services.
It currently manages 340,180 hectares of FELDA land of which 96% are planted with oil palm, and the rest with sugar cane, rubber and other crops.
Incorporation Date: 13 January 1992
Paid up Capital: RM 30 million
Revenue in FY 2008: RM 3,110.55 million
Name : FELDA KERNEL PRODUCTS SDN BHD
Affiliation type : Sister Company
Address : 3th Floor, Balai Felda
Jalan Gurney Satu
54000 Kuala Lumpur Wilayah Persekutuan Malaysia
Comments : Felda Kernel Products Sdn Bhd owns four kernel crushing plants with a total capacity of 2,900 tonnes per day, located at main ports around the country. These plants produce crude palm kernel oil and palm kernel expeller.
Incorporation Date: 3 August 1995
Paid Up Capital: RM 24 million
Revenue in FY2010: RM 1,515.9 million
Name : FELDA PRODATA SYSTEMS SDN BHD
Affiliation type : Sister Company
Address : 3th Floor, Balai Felda
Jalan Gurney Satu
54000 Kuala Lumpur Wilayah Persekutuan Malaysia
Comments : Felda Prodata Systems Sdn Bhd was initially set up to provide computer services to the Group, but the high demand for IT products and services resulted in it marketing hardware and software solutions to the private sector. Prodata now offers training, applications development, network solutions, multimedia and
e-learning while managing data backup, disaster recovery and other needs of the
Group.
Incorporation Date: 4 August 1995
Paid Up Capital: RM 12.5 million
Revenue in FY 2008: RM 104.1 million
Related companies and corporate affiliations comments: Other companies of the Felda Group should be considered affiliates of the Subject.
BANK & MORTGAGES
Bank Details
Name of bank : Maybank Bank Berhad
Address : Malaysia
Account details : Current Account
Name of bank : CIMB Bank Berhad
Address : Malaysia
Account details : Current Account
Comments : It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.
Mortgages : Total of Charge: 29,000,000.00
Date of Creation: 11-09-1997
Name of Chargee: FEDERAL LAND DEVELOPMENT AUTHORITY
Charge Status: FULLY SATISFIED
Total of Charge: 12,000,000.00
Date of Creation: 30-06-1998
Name of Chargee: FEDERAL LAND DEVELOPMENT AUTHORITY
Charge Status: FULLY SATISFIED
Total of Charge: 12,000,000.00
Date of Creation: 09-04-2001
Name of Chargee: FEDERAL LAND DEVELOPMENT AUTHORITY
Charge Status: FULLY SATISFIED
Total of Charge: 29,000,000.00
Date of Creation: 09-04-2001
Name of Chargee: FEDERAL LAND DEVELOPMENT AUTHORITY
Charge Status: FULLY SATISFIED
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
FINANCIAL DATA
Description
Source of financial statement :
Commercial Registry Filings
Financial statement date : 31/12/10
Type of accounts :
Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate :
1 USD = MYR 3.16 as of 02-01-2012
Summarized Financial Information
|
Consolidation
type : |
Non Consolidated |
Non Consolidated |
|
Currency : |
Malaysia, Ringgit (MYR) |
Malaysia, Ringgit (MYR) |
|
Denomination : |
(x1) One |
(x1) One |
|
Date of
financial year end : |
31/12/10 |
31/12/09 |
|
Length of
accounts : |
12 months |
12 months |
|
Sale turnover /
Income : |
537,532,265 |
395,302,384 |
|
Profit before
tax : |
78,081,873 |
16,025,658 |
|
Net income : |
73,819,941 |
9,352,592 |
|
Non current
assets : |
92,727,726 |
34,772,516 |
|
Current assets : |
194,931,780 |
259,715,712 |
|
Inventories : |
0 |
31,813,597 |
|
Total assets : |
287,659,506 |
294,488,228 |
|
Current
liabilities : |
128,850,791 |
188,759,535 |
|
Non current
liabilities : |
101,893 |
155,700 |
|
Total
liabilities : |
128,952,684 |
188,915,235 |
|
Share equity : |
158,706,822 |
105,572,993 |
|
Retained earning : |
116,668,955 |
63,093,405 |
OPERATION DETAILS
Main activities : The Subject acts as the marketing arm of the Felda Holdings Bhd. Group of companies in the sale of palm oil and palm oil products.
The Subject was initially established in 1974 under section 42 of the Land
Development Ordinance 1956. It began operating as a Company on 1
January 1996, following its corporatisation on 3 August 1995 under the
Companies Act 1965.
The Subject is ultimately owned by Felda Investment Co-operative
(KOPERASI PERMODALAN FELDA BERHAD).
Product & services : Crude Palm Oil Crude Palm Olein RBD Palm Oil RBD Palm Olein
RBD Palm Stearin
Palm Fatty Acid Distillate Crude Palm Kernel Oil RBD Palm Kernel Oil Palm Kernels
Palm Kernels Expeller
Other Oils & Fats
Purchases
Local : Yes
International : South East Asia
Sales
Local : Yes
International : China, Japan, Thailand, Sri Lanka, India, Pakistan, Iran, Saudi Arabia, South Africa, Australia, Belgium, Netherlands, United Kingdom, North America and South America
Key events : The Edge Financial Daily, 16 December 2011
Felda listing likely next April
The listing of Felda Global Ventures Holdings (FGVH) on the Main Market of Bursa Malaysia is expected to take place in April next year, says Felda Global group president Datuk Sabri Ahmad.
He said FGVH has picked five investment banks two local and three international to manage the listing process.
"Felda has elected Maybank, CIMB, Morgan Stanley, JP Morgan and Deutsche Bank to undertake the listing process and secure the best value from the exercise," he added.
He was speaking at a media conference at the Felda Biotechnology Centre here yesterday.
Sabri said Koperasi Permodalan Felda (KPF), comprising Felda settlers, and which now has the biggest interest in Felda, will reap enormous benefits through the listing.
He said FGVH will assist the settlers to own FGVH shares, including providing the "pink form" for the purchase process.
"This listing will become a new income source for the settlers, as they will have a profit through dividend remuneration, apart from the yields from their plantations," he added.
Sabri also denied that the listing involved leasing the settlers' land, explaining that it only concerned what was owned by Felda.
For the record, Felda owns more than 360,000ha. The 112,635 settlers have more than half a million hectares.
Meanwhile, FGVH yesterday announced an important find in the oil palm industry's efforts towards overcoming Ganoderma or better known as Basal Stem Rot disease.
Sabri said FGVH's research and development subsidiary, Felda Agricultural Services Sdn Bhd, has succeeded in creating the world's first marker to identify oil palm trees affected by the disease.
"The Ganoderma molecular marker system is an early attempt to prevent the start of infection. With the presence of this system, the grading programme for oil palm trees, can be more systematically implemented," he added.
The Ganoderma fungus can have a serious impact on the life of an oil palm along with its fresh fruit yield.
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of administrative office.
Branches : None reported.
Other property : Total NBV of property, plant and equipment as of 31-12-2010 was MYR
744,132.
SUMMARIZED COUNTRY RISK
Gross Domestic Products (GDP) & Economic Overview
Central bank : Central Bank of Malaysia
Reserve of foreign exchange & gold : US$ 135.0 billion as of 15 December 2011
Gross domestic product - GDP : US$ 247.781 billion
GPP (Purchasing power parity) : 442.01 billion of International dollars
GDP per capita - current prices : US$ 8,624
GDP - composition by sector : agriculture: 9.4% industry: 40.9% services: 49.7%
Inflation : 2008: 5.4%
2009: 0.6%
2010: 1.7%
Unemployment rate : 2008: 3.3%
2009: 3.6%
2010: 3.3%
Public debt
(General Government gross debt as a % GDP) : 2008: 42.8%
2009: 55.4%
2010: 54.2%
Government bond ratings : Standard & Poor's: A-/Stable/A-2
Moody's rating: A3
Moody's outlook: STA
Market value of publicly traded shares : US$420 billion
Largest companies in the country : CIMB Group Holdings (Banking), Sime Darby (Conglomerates), Public
Bank (Banking), Maybank (Banking), Tenaga Nasional(Utilities), Petronas Chemicals, Maxis Berhad
Trade & Competitiveness Overview
Total exports : US$210.3 billion
Exports commodities : electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals
Total imports : US$156.2 billion
Imports commodities : electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals
Export - major partners : US 15.6%, Singapore 14.6%, Japan 9.1%, China 8.8%, Thailand 5%, Hong Kong 4.6%
Import - major partners : Japan 13%, China 12.9%, Singapore 11.5%, US 10.8%, Taiwan 5.7%, Thailand 5.3%, South Korea 4.9%, Germany 4.6%, Indonesia 4.2%
FDI Inflows : 2007: US$8,538 million
2008: US$7,318 million
2009: US$1,381 million
FDI Outflows : 2007: US$11,280 million
2008: US$14,988 million
2009: US$8,038 million
Best countries for doing business : 21 out of 183 countries
Global competitiveness ranking : 26 (ranking by country on a basis of 133, the first is the best)
Country and Population Overview
Total population : 28.23 million
Total area : 329,847 km2
Capital : Kuala Lumpur
Currency : Malaysia Ringgits (MYR)
Internet users as % of total population: 57.61%
PAYMENT HISTORY
Purchase Term
Local : Prepayment, D/P, D/A, Credit up to 120
days
International : Prepayment, D/P, D/A, Telegraphic
transfer, Credit up to 120 days
Sales Term
Local : Prepayment, D/P, D/A, Credit up to 120
days
International : Prepayment, D/P, D/A, Telegraphic
transfer, Credit up to 120 days
Trade Reference/ Payment
Behaviour
Comments : As local and international trade
references were not supplied, the Subject's payment track record history cannot
be appropriately determined but based on our research, payments are believed to
be met without delay.
Investigation Note
Sources : Interviews and material provided by the
Subject
: Other official and local
business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.23 |
|
|
1 |
Rs.82.87 |
|
Euro |
1 |
Rs.69.13 |
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 SCs 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.