MIRA INFORM REPORT

 

 

Report Date :           

12.01.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

S.C. MICRON CHEMICALS CORPORATION

 

 

Registered Office :

16 Ricardo Street, Hayaville Subdivision, Amjeet 6, Bahay Toro 1106, Quezon City

 

 

Country :

Philippines

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

17.06.2002

 

 

Com. Reg. No.:

A200209707

 

 

Legal Form :

Corporation

 

 

Line of Business :

trading and importing of chemical products

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 10,000

 

 

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)

Philippines

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


Company Details

 

Company Name:

S.C. MICRON CHEMICALS CORPORATION

Supplied Name:

S C Micron Chemical Corpn

Trading Address:

16 Ricardo Street, Hayaville Subdivision, Amjeet 6, Bahay Toro 1106, Quezon City, Philippines

Supplied Address:

16 Ricardo Street, Hayaville Subdivision Amjeet 6 Quezm City 1100 Metro Manila, Philippines

Telephone Number:

+63 02 242-1079

 

Note:

The name you supplied is inexact. Subject’s accurate name is as above.

The address you supplied is incorrect. Subject’s accurate address is as above.

 

 

Credit Summary

 

Credit Rating:

Maximum credit USD 10,000

Credit Opinion:

Business connections are permissible.

 

 

Company Identification Details

 

Company Name:

S.C. MICRON CHEMICALS CORPORATION

Registered Number:

A200209707

Legal Form:

Corporation

Date Incorporated:

06/17/2002

Authorized Capital Stock:

PHP 5,000,000 (USD 113,450)

(As of 2012.01, 1 PHP=0.02269 USD)

Subscribed Capital Stock:

PHP 1,250,000 (USD 28,362.5)

Paid-up Capital:

PHP 1,250,000 (USD 28,362.5)

Listed at Stock Exchange:

No

Staff:

N/A

 

Note:

Amounts in Philippine Peso unless otherwise specified

The staff number is not obtained from the subject or other sources.

 

 

History

 

CORPORATION

 

Verification with the local registry revealed the following correct registration details as of (January 10, 2012).

 

Company Background

Regulatory Agency

Date Registered

Registration No.

Term

Securities and Exchange Commission

06/17/2002

A200209707

50 years

 

Annual Meeting Date: 03/18/2011

Type

Share

Authorized Capital

5,000,000.00

Paid Up Capital

1,250,000.00

Subscribed Capital

1,250,000.00

Capital structure per latest available General Information Sheet.

 

 

Shareholders

 

Stockholders (03/18/2011):

COMMON

Name

Subscribed and Paid Up

ANG, RICHARD C.

62,500.00

COO, EDWIN L.

562,500.00

COO, YUET NGAR ANNA S.

500,000.00

LOZADA, EVANGELINE C.

62,500.00

YU, EVELINE C.

62,500.00

List of stockholders and their shareholdings per latest available General Information Sheet

 

Management Information

 

Management (03/18/2011):

Name

Position

COO, EDWIN L.

16 Ricardo St., Hayaville Subd., Quezon City

Chairman / President

YU, EVELINE C.

206 University Avenue, Ayala Alabang, Muntinlupa City

Vice President / Director

COO, YUET NGAR ANNA S.

16 Ricardo St., Hayaville Subd., Quezon City

Treasurer / Director

LOZADA, EVANGELINE C.

1082 Albuquerque St., Tondo, Manila

Corporate Secretary / Director

ANG, RICHARD C.

98 East Maya Drive, Phil-Am Home, Quezon City

Director

List of officers per latest available General Information Sheet

 

 

Operation

 

Activities

Engage in the business of trading and importing of chemical products.

Premises

Location: Located at above address.

 

 

Balance Sheet

 

Unit: PHP

 

2010.12.31

2009.12.31

TotalCurrentAssets

15,292,139.49

9,849,044.34

Cash

581,651.19

480,998.45

ShortInvest

0.00

0.00

Receivable

3,842,181.55

2,391,274.21

Inventory

10,831,645.20

6,959,128.82

OtherCurrentAssets

36,661.55

17,642.86

LongInvestTotal

0.00

0.00

LongInvestSecurity

0.00

0.00

LongInvestEquity

0.00

0.00

LongInvestOther

0.00

0.00

FixedAssetsTotal

705,945.90

0.00

FixedAssets

705,945.90

0.00

DepreciationTotal

0.00

0.00

IntangibleAssets

0.00

0.00

OtherAssets

0.00

0.00

TotalAssets

15,998,085.39

9,849,044.34

TotalCurrentDebt

11,099,326.99

5,722,141.94

ShortLoan

0.00

0.00

AccountsPayable

11,099,326.99

5,722,141.94

OtherCurrentLiability

0.00

0.00

LongLiabilityTotal

0.00

0.00

LongLeases

0.00

0.00

LongLoan

0.00

0.00

LongLoanOther

0.00

0.00

TotalLiability

11,099,326.99

5,722,141.94

TotalEquity

4,898,758.40

4,126,902.40

ShareCapital

1,250,000.00

1,250,000.00

CapitalPaid

0.00

0.00

LegalReserve

0.00

0.00

SurplusReserve

0.00

0.00

UndistributedProfit

0.00

0.00

RetainedEarning

3,648,758.40

2,876,902.40

OtherEquity

0.00

0.00

TotalLiabilityAndEquity

15,998,085.39

9,849,044.34

 

Profit/ Loss Accounts

 

Unit: PHP

 

2010

2009

OperatingRevenue

0.00

0.00

SalesRevenue

59,358,596.10

45,862,576.18

InterestRevenue

0.00

0.00

OtherRevenue

0.00

0.00

TotalRevenue

59,358,596.10

45,862,576.18

SalesCost

51,968,450.89

40,363,610.39

GrossProfit

7,390,145.21

5,498,965.79

SalesExpenses

0.00

0.00

ManagementExpenses

5,785,088.54

4,382,508.39

FinancialExpenses

0.00

0.00

TotalExpenses

57,753,539.43

44,746,118.78

OperatingProfit

1,605,056.67

1,116,457.40

NonOperatingProfit

0.00

0.00

ProfitBeforeTax

1,605,056.67

1,116,457.40

Tax

481,517.00

334,937.00

NetProfit

1,123,539.67

781,520.40

 

 

Cash Flow

 

 

2010

2009

OperatingNetCash

1,236,720.74

-47,367.53

InvestmentNetCash

0.00

0.00

FinanceNetCash

0.00

0.00

 

Bankers

 

No dealings based on credit exposure report with one million and above dealings as of June 30, 2011.

 

 

Public

 

NEGATIVE RECORDS

No negative records (court cases, credit cards cancelled and delinquent accounts) found under “S.C. MICRON CHEMICALS CORPORATION” in OUR available database as of January 10, 2012.

 

 

Special Note

 

Above information were based on the subject’s 2011 General Information Sheet, the latest available at the Securities and Exchange Commission.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.75

UK Pound

1

Rs.80.01

Euro

1

Rs.65.99

 

 

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.