MIRA INFORM REPORT
|
Report Date : |
05.01.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
NO VA TRADING CORPORATION |
|
|
|
|
Registered Office : |
No. 307/11 Nguyen Van Troi Street - Ward 1
- Tan Binh District - Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Year of Establishment : |
2008 |
|
|
|
|
Com. Reg. No.: |
0305726741 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
trading animal feeds, equipment for breeding and veterinary;
fertilizers; chemicals, pesticides, agro-aquatic machines; consumer products:
animal feeds, papers and paper materials |
|
|
|
|
No. of Employees
: |
65 |
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 : |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Vietnam |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT IDENTIFICATION &
LEGAL FORM
Current legal status
|
||
|
Registration English Name |
|
NO VA TRADING CORPORATION |
|
Registration Vietnamese Name |
|
CONG TY CO PHAN THUONG MAI NO VA |
|
Registration short name |
|
NO VA TRADING CORP |
|
Other short name |
|
NOVA TRADING |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2008 |
|
Business Registration No. |
|
0305726741 |
|
Date of 01st Registration |
|
11 Nov 2009 |
|
Date of 03rd Adjustment |
|
08 Mar 2011 |
|
Place of Registration |
|
Business Registration Office- Planning and
Investment Department of Hochiminh City |
|
Current registered capital |
|
VND 15,000,000,000 |
|
Tax code |
|
0305726741 |
|
Total Employees |
|
65 |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered English Name:
NO VA TRADING ONE MEMBER COMPANY LIMITED Changed to: NO VA TRADING CORPORATION |
11
Nov 2009 |
|
2 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH MOT THANH VIEN THUONG MAI NO VA Changed to: CONG TY CO PHAN THUONG MAI NO
VA |
11
Nov 2009 |
|
3 |
Subject has got former Type of Business:
One member limited liability Changed to: Joint stock company |
11
Nov 2009 |
|
4 |
Subject has got former Business
Registration No: 4104004554 which was issued on May 08th, 2008 Changed to: 0305726741 |
11
Nov 2009 |
|
5 |
Subject has got former Registered English
Name: PHU AN LOC ONE MEMBER LIABILITY LIMITED COMPANY (Original name) Changed to: NO VA TRADING ONE MEMBER
COMPANY LIMITED |
N/A |
|
6 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH MOT THANH VIEN PHU AN LOC (Original name) Changed to: CONG TY TNHH MOT THANH VIEN
THUONG MAI NO VA |
N/A |
company ADDRESSES
|
Head Office |
||
|
Address |
|
No. 307/11 Nguyen Van Troi Street - Ward 1
- Tan Binh District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3997 3404 - 3997 3792 |
|
Fax |
|
(84-8) 3997 3713 |
|
Email |
|
|
|
Website |
|
|
DIRECTORS
|
1.
NAME |
|
Mr.
NGUYEN HIEU LIEM |
|
Position |
|
Chairman - Legal Representative |
|
Date of Birth |
|
13 Mar 1959 |
|
ID Number/Passport |
|
020203121 |
|
ID Issue Date |
|
16 Jan 2007 |
|
ID Issue Place |
|
Police Station of
Hochiminh city |
|
Resident |
|
6A/11, Nguyen Canh
Chan Nguyen Van Cu Ward - 1 District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
2.
NAME |
|
Mr.
CAO TRIEU LIEM |
|
Position |
|
Chief Accountant |
|
Current resident |
|
Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+ 84 913 127 318 |
|
|
||
|
3.
NAME |
|
Mr.
BUI PHAN PHU LOC |
|
Position |
|
General Director |
|
Date of Birth |
|
22 Mar 1973 |
|
ID Number/Passport |
|
024651113 |
|
ID Issue Date |
|
30 Oct 2006 |
|
ID Issue Place |
|
Police Station of
HoChiMinh City |
|
Resident |
|
No. 43/27 Bui Thi
Xuan Street - Ward 3 - Tan Binh District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 903 935 212 |
|
Qualification |
|
Bachelor |
BUSINESS NATURE AND ACTIVITIES
|
Subject
specializes in trading animal feeds, equipment for breeding and veterinary;
fertilizers; chemicals, pesticides, agro-aquatic machines; consumer products:
animal feeds, papers and paper materials. |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
materials |
|
·
Market |
|
USA, France, Singapore, Germany, China, India and Australia |
|
·
Mode of payment |
|
T/T; L/C |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
raw materials for animal feeds |
|
·
Market |
|
Hong Kong, Belgium, Turkey, New Zealand |
BANKERS
|
1.
VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No. 7 Le Thi Hong Gam Street -
Nguyen Thai Binh Ward – 1st
District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3821 0055 |
|
Fax |
|
(84-8) 3829 6063 |
|
|
||
|
2.
HONGKONG SHANGHAI BANK CORPORATION (HSBC) – HO CHI MINH BRANCH |
||
|
Address |
|
6 Floor, No. 235 Dong Khoi Street - Ben Nghe ward – 1st
District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3829 2288 |
|
|
||
|
3.
SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No. 266-268 Nam Ky Khoi Nghia Street -
Ward 8 – 3rd District - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3932 0420 - 3932 0643 |
|
Fax |
|
(84-8) 3932 2488 |
|
|
||
|
4.
JOINT STOCK BANK FOR FOREIGN TRADE OF VIETNAM HO CHI MINH BRANCH |
||
|
Address |
|
No. 29 Ben Chuong Duong Street – Nguyen Thai Binh Ward – 1st
District – Ho Chi Minh City – Vietnam |
|
Telephone |
|
(84-8) 3825 1317 |
|
Fax |
|
(84-8) 3829 7228 |
SHAREHOLDERS
|
1.
NAME |
|
A
NO VA CORPORATION |
|
Vietnamese
Name |
|
CONG
TY CO PHAN A NO VA |
|
Business Registration |
|
0301447257 |
|
Date of Registration |
|
06 May 2011 |
|
Place of Registration |
|
Planning and Investment Department of Ho Chi Minh City |
|
Registered Capital |
|
200,000,000,000 VND |
|
Tax code |
|
0301447257 |
|
Address |
|
No. 315 Nam Ky Khoi Nghia Street - Ward 7 –
3rd District - Ho Chi Minh City
- Vietnam |
|
Tel |
|
(84-8) 3997 3672 - 3997 3390 - 3997 3442 |
|
Fax |
|
(84-8) 3997 3791 - 3997 3404 |
|
Shares |
|
1,497,000 |
|
Value of shares |
|
VND 14,970,000,000 |
|
Percentage |
|
99.8% |
|
|
||
|
2.
NAME |
|
Ms.
BUI CAO NGOC QUYNH |
|
ID Number/Passport |
|
024567852 |
|
Resident |
|
No. 315 Nam Ky Khoi Nghia Street – Ward 7
– 3rd District – Ho Chi Minh City – Vietnam |
|
Nationality |
|
Vietnamese |
|
Shares |
|
1,500 |
|
Value of shares |
|
VND 15,000,000 |
|
Percentage |
|
0.1% |
|
|
||
|
3.
NAME |
|
Ms.
CAO THI NGOC SUONG |
|
ID Number/Passport |
|
020203157 |
|
Resident |
|
No. 315 Nam Ky Khoi Nghia Street – Ward 7
– 3rd District – Ho Chi Minh City – Vietnam |
|
Nationality |
|
Vietnamese |
|
Shares |
|
1,500 |
|
Value of shares |
|
VND 15,000,000 |
|
Percentage |
|
0.1% |
FINANCIAL DATA
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
30/06/2011 |
31/12/2010 |
31/12/2009 |
|
Number of weeks |
26 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
150,292,277,653 |
131,743,000,000 |
102,395,958,340 |
|
I. Cash and cash
equivalents |
3,138,850,294 |
10,676,000,000 |
3,295,218,873 |
|
1. Cash |
3,138,850,294 |
10,676,000,000 |
3,295,218,873 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
96,925,190,170 |
47,550,000,000 |
49,234,791,374 |
|
1. Receivable from customers |
74,173,556,988 |
43,507,000,000 |
48,068,337,061 |
|
2. Prepayments to suppliers |
22,139,068,693 |
3,856,000,000 |
1,166,454,313 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
612,564,489 |
187,000,000 |
0 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
48,304,942,545 |
70,436,000,000 |
46,822,001,336 |
|
1. Inventories |
48,304,942,545 |
70,436,000,000 |
46,822,001,336 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
1,923,294,644 |
3,081,000,000 |
3,043,946,757 |
|
1. Short-term prepaid expenses |
78,074,256 |
101,000,000 |
100,974,168 |
|
2. VAT to be deducted |
1,615,655,125 |
2,508,000,000 |
2,730,941,279 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
229,565,263 |
472,000,000 |
212,031,310 |
|
B. LONG-TERM
ASSETS |
2,144,297,465 |
1,793,000,000 |
1,980,987,805 |
|
I. Long term
account receivable |
0 |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
0 |
|
4. Other long-term receivable |
0 |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets
|
1,375,725,796 |
1,564,000,000 |
1,768,859,827 |
|
1. Tangible assets |
1,375,725,796 |
1,564,000,000 |
1,768,859,827 |
|
- Historical costs |
1,944,845,584 |
1,945,000,000 |
1,796,684,399 |
|
- Accumulated depreciation |
-569,119,788 |
-381,000,000 |
-27,824,572 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
0 |
|
- Initial costs |
0 |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
0 |
0 |
0 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
0 |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
768,571,669 |
229,000,000 |
212,127,978 |
|
1. Long-term prepaid expenses |
58,571,669 |
79,000,000 |
62,127,978 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
710,000,000 |
150,000,000 |
150,000,000 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
152,436,575,118 |
133,536,000,000 |
104,376,946,145 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
125,866,745,986 |
103,390,000,000 |
84,667,726,342 |
|
I. Current
liabilities |
125,866,745,986 |
103,390,000,000 |
84,667,726,342 |
|
1. Short-term debts and loans |
109,931,167,292 |
67,451,000,000 |
0 |
|
2. Payable to suppliers |
7,481,596,489 |
27,728,000,000 |
82,595,888,309 |
|
3. Advances from customers |
556,701,861 |
3,410,000,000 |
842,409,509 |
|
4. Taxes and other obligations to the State Budget |
6,604,283,833 |
4,451,000,000 |
1,123,838,524 |
|
5. Payable to employees |
150,000,000 |
0 |
0 |
|
6. Accrued expenses |
1,090,166,663 |
289,000,000 |
20,000,000 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
52,829,848 |
61,000,000 |
85,590,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
0 |
0 |
0 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
0 |
0 |
0 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
26,569,829,132 |
30,146,000,000 |
19,709,219,803 |
|
I. OWNER’S
EQUITY |
26,569,829,132 |
30,146,000,000 |
19,709,219,803 |
|
1. Capital |
15,000,000,000 |
15,000,000,000 |
15,000,000,000 |
|
2. Share premiums |
0 |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
11,569,829,132 |
15,146,000,000 |
4,709,219,803 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds |
0 |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
152,436,575,118 |
133,536,000,000 |
104,376,946,145 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
First Half/ FY2011 |
FY2010 |
FY2009 |
|
1. Total Sale |
395,845,409,127 |
619,647,000,000 |
172,579,122,950 |
|
2. Deduction item |
90,000 |
1,000,000 |
0 |
|
3. Net sale |
395,845,319,127 |
619,646,000,000 |
172,579,122,950 |
|
4. Costs of goods sold |
366,825,824,211 |
579,218,000,000 |
162,844,049,490 |
|
5. Gross profit |
29,019,494,916 |
40,428,000,000 |
9,735,073,460 |
|
6. Financial income |
371,000,739 |
1,693,000,000 |
74,008,675 |
|
7. Financial expenses |
7,621,948,420 |
6,416,000,000 |
32,957,093 |
|
- In which: Loan interest expenses |
4,603,692,826 |
5,722,000,000 |
|
|
8. Selling expenses |
9,334,962,639 |
16,231,000,000 |
3,174,857,287 |
|
9. Administrative overheads |
3,505,667,930 |
6,182,000,000 |
843,207,929 |
|
10. Net operating profit |
8,927,916,666 |
13,292,000,000 |
5,758,059,826 |
|
11. Other income |
1,255,105,746 |
1,284,000,000 |
13,729 |
|
12. Other expenses |
84,557,673 |
75,000,000 |
1,239,000 |
|
13. Other profit /(loss) |
1,170,548,073 |
1,209,000,000 |
-1,225,271 |
|
14. Total accounting profit before tax |
10,098,464,739 |
14,501,000,000 |
5,756,834,555 |
|
15. Current corporate income tax |
2,843,030,325 |
3,668,000,000 |
1,050,553,218 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
7,255,434,414 |
10,833,000,000 |
4,706,281,337 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
1.27 |
1.21 |
1.45 |
|
Quick liquidity ratio |
0.59 |
0.66 |
0.87 |
|
Inventory circle |
8.22 |
3.48 |
7.48 |
|
Average receive period |
28.01 |
104.13 |
64.15 |
|
Utilizing asset performance |
4.64 |
1.65 |
2.38 |
|
Liability by total asset |
77.42 |
81.12 |
69.14 |
|
Liability by owner equity |
342.96 |
429.58 |
281.46 |
|
Ebit / Total asset (ROA) |
15.14 |
5.52 |
10.33 |
|
Ebit / Owner's equity (ROE) |
67.08 |
29.21 |
35.61 |
|
Ebit / Total sale (NPM) |
3.26 |
3.34 |
4.71 |
|
Gross profit / Total sale (GPM) |
6.52 |
5.64 |
15.43 |
|
Note: The
Average Industry was calculated by Vietnam Credit based on our owned
statistical data |
|||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Uptrend |
|
Litigation data |
|
No Recorded |
|
Bankruptcy |
|
No Recorded |
|
Payment Methods |
|
Cash, L/C, T/T |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Good |
|
Total Evaluated Scores |
55 |
100 |
|
CREDIT INQUIRY: 125,000 USD, D/A |
|
Accepted! |
INTERPRETATION ON THE SCORES
|
The subject
was established in 2008. After times of adjustment and change, the subject is
operating under the Business Code 0305726741 and registration capital VND 15
billion. Subject specializes in trading animal feeds, equipment for breeding
and veterinary; fertilizers; chemicals, pesticides, agro-aquatic machines;
consumer products: animal feeds, papers and paper materials. Subject
represents as exclusive distributor for many animal feed manufacturers from USA,
France, Germany, Australia, India, Korea, China... such as MITSUI, VEDAN, CP
VIETNAM, CARGILL, ALAND, CJ, KIRINS, NB GROUP... It often imports from USA,
France, Singapore, Germany, China, India and Australia markets. The subject
has been regarded as a strong distributor in products of Methionine, Ascorbic
acid, Cholin Chloride, Sodium bicarbonate, Ferrous sulphate, Zinc sulphate,
Zinc oxide and Manganese sulphate. Premises
and facilities of the subject are fair. Subject is a member of ANOVA GROUP
(former was NOVA GROUP). Management capacity of the subject is fair with 65
employees. Currently,
the subject is operating fair effectively and busily. According to reported
financial statements, its financial capacity was fair. Its sale and profit in
were high and increased. In
general, subject is a medium company in its operating industry. It is
expected that the company’s income and profit margin would be optimistic in
the next couple of years; therefore the rating outlook for the company is
above average level. The company has guarantees for small, average size debt
repayment. |
APPENDIXES
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed (%) |
Total employees
2009 (Thousand) |
Total
enterprises |
Annual average capital
of enterprises |
||
|
Predict 2010 |
2009 |
|||||
|
Agriculture,
Forestry and Fishing |
2.8 |
3.0 |
24,788.5 |
2,399 |
50,530 |
|
|
Trade and
Services |
7.5 |
11 |
10,517.9 |
79,181 |
1,754,973 |
|
|
Construction |
7 |
11.3 |
2,692.8 |
17,783 |
248,268 |
|
|
Manufacturing |
12 |
7.6 |
7,591.2 |
30,786 |
967,068 |
|
|
|
||||||
|
ECONOMIC
INDICATORS |
||||||
|
|
||||||
|
|
2010 |
2009 |
2008 |
|||
|
Population (Million person) |
86.93 |
86.02 |
86.1 |
|||
|
Gross Domestic Products (US$ billion) |
102.2 |
91 |
84.9 |
|||
|
GDP Growth (%) |
6.78 |
5.32 |
6.2 |
|||
|
GDP Per Capita (US$) |
1,160 |
1,080 |
1,040 |
|||
|
Inflation (% Change in Composite CPI) |
11.75 |
6.88 |
24.4 |
|||
|
|
||||||
|
SERVICE TRADE
PERFORMANCE |
||||||
|
|
||||||
|
Billion USD |
2010 |
2009 |
2008 |
|||
|
Exports |
71.6 |
56.6 |
62.9 |
|||
|
Imports |
84 |
68.8 |
76.6 |
|||
|
Trade Balance |
-12.4 |
-12.2 |
-14.6 |
|||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.14 |
|
UK Pound |
1 |
Rs.83.08 |
|
Euro |
1 |
Rs.69.25 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.