MIRA INFORM REPORT
|
Report Date : |
14.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
GLOMED PHARMACEUTICAL COMPANY INC |
|
|
|
|
Registered Office : |
No. 35 Tu Do Boulevard, Vietnam Singapore Industrial Park (VSIP), Thuan An Town, Binh Duong Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
2006 |
|
|
|
|
Com. Reg. No.: |
3700754914 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and trading in pharmaceutical products |
|
|
|
|
No. of Employees
: |
300 |
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
|
||
|
English Name |
|
GLOMED PHARMACEUTICAL COMPANY INC |
|
Vietnamese Name |
|
CONG TY CO PHAN DUOC PHAM GLOMED |
|
Short name |
|
GLOMED INC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2006 |
|
Business Registration No. |
|
3700754914 |
|
Date of Registration |
|
24 Feb 2009 |
|
Place of Registration |
|
Planning and Investment Department of Binh
Duong Province |
|
Current registered capital |
|
VND 120,000,000,000 |
|
Tax code |
|
3700754914 |
|
Total Employees |
|
300 |
|
|
||
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business Registration
No: 4603000275 issued on 27 Oct 2006 Changed to: 3700754914 |
26
Feb 2009 |
|
2 |
Subject has got former Trade Name: CONG TY
CO PHAN DUOC PHAM TOAN CAU Changed to: CONG TY CO PHAN DUOC PHAM
GLOMED |
- |
company ADDRESSES
|
Head Office |
||
|
Address |
|
No. 35 Tu Do Boulevard, Vietnam Singapore
Industrial Park (VSIP), Thuan An Town, Binh Duong Province, Vietnam |
|
Telephone |
|
(84-650) 3768 824 / 3768 823 / 3768 826 /
3768 827 |
|
Fax |
|
(84-650) 3768 825 / 3769 094 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Factory Address |
||
|
Address |
|
No.29A Tu Do Boulevard, Vietnam Singapore
Industrial Park (VSIP), Thuan An Town, Binh Duong Province, Vietnam |
|
|
||
|
Representative
office in Ho Chi Minh |
||
|
Address |
|
No. 781/B9 Le Hong Phong Street, Ward 12, District
10, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3863 2323 |
|
Fax |
|
(84-8) 3863 2326 |
|
|
||
|
Branch in Ha Noi
|
||
|
Address |
|
No. 11B Le Van Thiem Street, Nhan Chinh
Ward, Thanh Xuan District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3557 7430 / 3557 7429 |
|
|
||
|
Branch in Khanh
Hoa |
||
|
Address |
|
No. 41A. Quang Trung , Nha Trang City,
Khanh Hoa Province, Vietnam |
|
Telephone |
|
(84-58) 3704 098 |
|
Fax |
|
(84-58) 3526 343 |
|
|
||
|
Branch in Da
Nang |
||
|
Address |
|
No.53 Ly Tai Tong Street - Thanh Khe Tay
Ward, Thanh Khe District, Da Nang City, Vietnam |
|
|
||
|
Branch in Can
Tho |
||
|
Address |
|
No. 576 - 577 Street B2 - An Khanh Ward,
Ninh Kieu District, Can Tho City, Vietnam |
|
Telephone |
|
(84-710) 6257 575 - 6257 676 |
|
Fax |
|
(84-710) 3833 838 |
DIRECTORS
|
1.
NAME |
|
Mr.
TRANG VAN TOT |
|
Position |
|
Chairman |
|
Date of Birth |
|
01 Mar 1957 |
|
ID Number/Passport |
|
024417402 |
|
ID Issue Date |
|
03 Nov 2005 |
|
ID Issue Place |
|
Police Station of
Hochiminh city |
|
Resident |
|
No. 386 Ba Hat
Street, Ward 8, District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Ms.
TRANG CAM TU |
|
Position |
|
HR Manager |
|
ID Number/Passport |
|
023732571 |
|
Resident |
|
No. 386 Ba Hat
Street, Ward 8, District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Email |
|
|
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN HUU KHANG |
|
Position |
|
IT Dept |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84) 917 509 609 |
|
|
||
|
4.
NAME |
|
Mr.
TRANG VAN TY |
|
Position |
|
Deputy General Director |
|
Resident |
|
No. 491 Lac Long Quan
street, District 11, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
5.
NAME |
|
Mr.
NGUYEN THANH PHONG |
|
Position |
|
Accountant |
|
Resident |
|
Ho Chi Minh City,
Vietnam |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
The subject registers and
operates in the following business activities:
Manufacturing and trading in pharmaceutical products.
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
materials and equipment |
|
·
Market |
|
USA, Germany, Switzerland and Japan |
|
·
Mode of payment |
|
Through the bank |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Products |
|
·
Market |
|
Campuchia, Myanmar, Indonesia..... |
|
·
Mode of payment |
|
L/C, T/T |
BANKERS
|
VIETNAM
PROSPERITY JOINT STOCK COMMERCIAL BANK HOCHIMINH CITY BRANCH |
||
|
Address |
|
No.87 Ham Nghi Street, 1 District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3821 0076 /3821 0077 |
|
Fax |
|
(84-8) 3824 3456 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
TRANG VAN TOT |
|
Position |
|
Chairman |
|
Date of Birth |
|
01 Mar 1957 |
|
ID Number/Passport |
|
024417402 |
|
Issued on |
|
03 Nov 2005 |
|
Issued Place |
|
Police Station of Hochiminh city |
|
Resident |
|
No. 386 Ba Hat Street, Ward 8, District
10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 40,000,000,000 |
|
|
||
|
2.
NAME |
|
Ms.
TRANG CAM TU |
|
Position |
|
HR Manager |
|
ID Number/Passport |
|
023732571 |
|
Resident |
|
No. 386 Ba Hat Street, Ward 8, District
10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Email |
|
|
|
Value of shares |
|
VND 2,500,000,000 |
|
|
||
|
3.
NAME |
|
Mr.
TRANG VAN TY |
|
Position |
|
Deputy General Director |
|
Resident |
|
No. 491 Lac Long Quan street, District 11,
Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 5,000,000,000 |
|
|
||
|
4.
NAME |
|
Ms.
TRANG HOANG YEN |
|
Resident |
|
No. 386 Ba Hat Street, Ward 8, 10
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 2,500,000,000 |
FINANCIAL DATA
|
|
|||
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
124,468,000,000
|
75,302,591,273
|
30,410,266,544
|
|
I. Cash and cash
equivalents |
6,094,000,000
|
1,117,138,156
|
592,514,957
|
|
1. Cash |
6,094,000,000 |
1,117,138,156 |
592,514,957 |
|
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 |
72,885,000,000
|
22,145,101,685
|
1,526,601,140
|
|
1. Receivable from customers |
60,464,000,000 |
16,025,493,606 |
812,165,315 |
|
2. Prepayments to suppliers |
0 |
0 |
0 |
|
3. Inter-company receivable |
12,421,000,000 |
5,879,929,875 |
714,435,825 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
0 |
239,678,204 |
0 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
39,243,000,000
|
48,176,663,391
|
21,923,856,914
|
|
1. Inventories |
39,243,000,000 |
48,176,663,391 |
21,923,856,914 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
6,246,000,000
|
3,863,688,041
|
6,367,293,533
|
|
1. Short-term prepaid expenses |
2,632,000,000 |
1,367,557,014 |
2,032,278,320 |
|
2. VAT to be deducted |
2,989,000,000 |
1,268,432,465 |
3,977,903,135 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
625,000,000 |
1,227,698,562 |
357,112,078 |
|
B. LONG-TERM
ASSETS |
166,116,000,000
|
113,339,032,682
|
125,942,010,598
|
|
I. Long term
accounts 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
|
156,403,000,000
|
103,381,969,374
|
115,719,160,468
|
|
1. Tangible assets |
93,388,000,000 |
98,080,149,881 |
107,338,518,971 |
|
- Historical costs |
124,046,000,000 |
116,723,321,067 |
114,530,466,821 |
|
- Accumulated depreciation |
-30,658,000,000 |
-18,643,171,186 |
-7,191,947,850 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
28,000,000 |
40,611,930 |
53,436,750 |
|
- Initial costs |
64,000,000 |
64,124,100 |
64,124,100 |
|
- Accumulated amortization |
-36,000,000 |
-23,512,170 |
-10,687,350 |
|
4. Construction-in-progress |
62,987,000,000 |
5,261,207,563 |
8,327,204,747 |
|
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 |
9,713,000,000
|
9,957,063,308
|
10,222,850,130
|
|
1. Long-term prepaid expenses |
9,713,000,000 |
9,957,063,308 |
10,222,850,130 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
290,584,000,000
|
188,641,623,955
|
156,352,277,142
|
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
163,711,000,000
|
113,246,334,511
|
127,733,257,479
|
|
I. Current
liabilities |
91,643,000,000
|
59,042,603,829
|
26,380,832,209
|
|
1. Short-term debts and loans |
71,225,000,000 |
32,339,409,378 |
7,633,260,214 |
|
2. Payable to suppliers |
19,239,000,000 |
24,868,766,498 |
16,662,386,380 |
|
3. Advances from customers |
0 |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
755,000,000 |
1,221,328,961 |
1,364,889,204 |
|
5. Payable to employees |
0 |
131,153,000 |
180,954,292 |
|
6. Accrued expenses |
429,000,000 |
408,116,052 |
42,753,637 |
|
7. Inter-company payable |
0 |
0 |
475,296,165 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
-5,000,000 |
73,829,940 |
21,292,317 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
72,068,000,000
|
54,203,730,682
|
101,352,425,270
|
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
2,715,000,000 |
5,005,000,000 |
20,000,000 |
|
4. Long-term debts and loans |
69,353,000,000 |
49,198,730,682 |
101,332,425,270 |
|
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 |
126,873,000,000
|
75,395,289,444
|
28,619,019,663
|
|
I. OWNER’S
EQUITY |
126,873,000,000
|
75,395,289,444
|
28,619,019,663
|
|
1. Capital |
120,000,000,000 |
100,500,000,000 |
50,000,000,000 |
|
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 |
6,873,000,000 |
-25,104,710,556 |
-21,380,980,337 |
|
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 |
290,584,000,000
|
188,641,623,955
|
156,352,277,142
|
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
225,348,000,000
|
105,190,795,373
|
31,751,465,458
|
|
2. Deduction item |
11,959,000,000 |
3,439,758,714 |
3,942,004,943 |
|
3. Net sale |
213,389,000,000
|
101,751,036,659
|
27,809,460,515
|
|
4. Costs of goods sold |
121,903,000,000 |
66,481,263,028 |
20,226,233,457 |
|
5. Gross profit |
91,486,000,000
|
35,269,773,631
|
7,583,227,058
|
|
6. Financial income |
297,000,000 |
51,815,709 |
84,043,991 |
|
7. Financial expenses |
13,745,000,000 |
13,471,554,438 |
10,569,312,769 |
|
- In which: Loan interest expenses |
10,122,000,000 |
11,618,971,978 |
10,311,757,988 |
|
8. Selling expenses |
17,268,000,000 |
3,871,335,435 |
841,566,858 |
|
9. Administrative overheads |
29,103,000,000 |
21,704,703,693 |
17,659,130,859 |
|
10. Net operating profit |
31,667,000,000
|
-3,726,004,226
|
-21,402,739,437
|
|
11. Other income |
316,000,000 |
2,274,007 |
21,759,100 |
|
12. Other expenses |
4,000,000 |
0 |
0 |
|
13. Other profit /(loss) |
312,000,000
|
2,274,007
|
21,759,100
|
|
14. Total accounting profit before tax |
31,979,000,000
|
-3,723,730,219
|
-21,380,980,337
|
|
15. Current corporate income tax |
0 |
0 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
31,979,000,000
|
-3,723,730,219
|
-21,380,980,337
|
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.36 |
1.28 |
1.15 |
1.74 |
|
Quick liquidity ratio |
0.93 |
0.46 |
0.32 |
1.02 |
|
Inventory circle |
2.79 |
1.38 |
0.92 |
3.74 |
|
Average receive period |
124.67 |
79.44 |
20.04 |
76.97 |
|
Utilizing asset performance |
0.73 |
0.54 |
0.18 |
1.31 |
|
Liability by total assets |
56.34 |
60.03 |
81.70 |
49.32 |
|
Liability by owner's equity |
129.04 |
150.20 |
446.32 |
129.21 |
|
Ebit / Total assets (ROA) |
14.49 |
4.19 |
-7.08 |
8.55 |
|
Ebit / Owner's equity (ROE) |
33.18 |
10.47 |
-38.68 |
18.02 |
|
Ebit / Total sale (NPM) |
18.68 |
7.51 |
-34.86 |
6.82 |
|
Gross profit / Total sale (GPM) |
40.60 |
33.53 |
23.88 |
21.89 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own statistical data |
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Normal |
|
Liquidity |
|
Low |
|
Payment status |
|
Normal |
|
Financial Situation |
|
Normal |
|
Development trend |
|
Even |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
By cash or through the bank |
|
Sale Methods |
|
Retailer and Wholesaler |
INTERPRETATION ON THE SCORES
|
GLOMED INC is a joint stock company which was officially established
in 2006. The precursor of it was Cam Tu Pharmaceutical Company., Ltd which
was established in 1995 in Ho Chi Minh City. The
subject is specializing in manufacturing and trading in pharmaceutical
products. The subject has close relationship with Cam Tu Pharmaceutical
Company., Ltd, has been a large distributor for domestic and foreign
pharmaceutical companies. The
main products of subject are drugs of the Non – Betalactam group and drugs of
the Betalactam group (the cephalosporins) with a capacity of about one
billion tablets /capsules per year, and consisting of tablets, film-coated
tablets, hard-gelatin capsules, sachets, creams/ointments. At
present, products of the subject are distributed all over the provinces and
cities in the nation, among them there are some typical products such as
Cadiovascular drugs: Glovitor, Lodovax, Glocor; Antibiotics: Actixim, Glocip… In
production, besides the investment in a modern line for R&D and trial production,
the company has established the production lines of tablets, film-coated
tablets, capsules, sachets, creams/ointments with equipment such as rapid
mixer granulation, fluid bed drier, tabling machine, capsule filling machine,
metal detector, film coating machine, blistering machine, packaging machine,
cream fabricating machine, from Germany, the United States, Spain, Belgium,
Singapore. In
general, the subject is medium scale company. Its operation is now average.
Competition capacity of the subject is normal in pharmaceutical field. |
APPENDIX
|
INDUSTRY
DATA |
||||||
|
|
||||||
|
Industry
code |
Growth speed by
price compared with 1994 (%) |
Total
enterprises 2009 |
Total employees
2010 (Thous.pers.) |
Annual average capital
of enterprises 2009 (billion dongs) |
||
|
2010 |
2009 |
|||||
|
Agriculture,
Forestry and Fishing |
2.78 |
1.82 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry and
Construction |
7.70 |
5.52 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade and
Services |
7.52 |
6.63 |
154,978 |
14,522 |
4,939,069 |
|
|
|
||||||
|
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 |
72.2 |
57.1 |
62.7 |
|||
|
Imports |
84.8 |
69.9 |
80.7 |
|||
|
Trade Balance |
-12.6 |
-12.8 |
-18 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.43 |
|
UK Pound |
1 |
Rs.79.10 |
|
Euro |
1 |
Rs.66.17 |
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.