MIRA
INFORM REPORT
|
Report Date : |
17.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
HYOSUNG VIETNAM CO., LTD |
|
|
|
|
Registered Office : |
N2 Road Nhon Trach 5 Industrial Zone, Nhon Trach District, Dong Nai Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
2007 |
|
|
|
|
Com. Reg. No.: |
472023000143 |
|
|
|
|
Legal Form : |
Foreign Invested Company |
|
|
|
|
Line of Business : |
Manufacturing and trading spandex fabric, nylon and polyester cloths, etc |
|
|
|
|
No. of Employees : |
2200 |
RATING & COMMENTS
|
MIRAs 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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Viet Nam |
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 |
|
HYOSUNG VIETNAM CO., LTD |
|
Vietnamese Name |
|
CONG TY TNHH HYOSUNG VIET NAM |
|
Type of Business |
|
Foreign invested company |
|
Year Established |
|
2007 |
|
Investment Certificate No |
|
472023000143 |
|
Date Of Issuance |
|
28 Nov 2007 |
|
Latest Date Of Issuance |
|
23 Sep 2011 |
|
Place of Issuance |
|
Dong Nai Industrial Zones Authority |
|
Registered Investment Capital |
|
USD 751,276,000 |
|
Chartered capital |
|
USD 69,400,000 |
|
Investment Duration |
|
20 years |
|
Status |
|
Unlisted |
|
Tax code |
|
3600890952 |
|
Total Employees |
|
2,200 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered
Investment Capital: 682,919,000 USD Changed to: 751,276,000 USD |
23
Sep 2011 |
|
2 |
Subject has got former Registered
Investment Capital: USD 18,744,000, changed to USD 368,659,000, changed to
USD 563,227,000 Changed to: USD 682,919,000 |
15
Jun 2011 |
|
3 |
Subject has got former Chartered capital:
USD 6,000,000 Changed to: USD 69,400,000 |
28
Jul 2008 |
|
4 |
Subject has got former Business
Registration No: 472043000143 (issued 22 May 2007) Changed to: 472023000143 |
28
Nov 2007 |
|
5 |
Subject has got former Board Of Director:
Mr LEE DOO HA - Director, changed to Mr KWON GI SOO Changed to: Mr. KIM CHI
HYUNG |
N/A |
|
|
||
|
ADDRESSES |
||
|
|
||
|
Head Office |
||
|
Address |
|
N2 Road Nhon Trach 5 Industrial Zone, Nhon
Trach District, Dong Nai Province, Vietnam |
|
Telephone |
|
(84-61) 3569445/ 3569458/ 3569472/3569455 |
|
Fax |
|
(84-61) 3569230/ 3569299 |
|
Email |
|
|
|
Website |
|
|
|
Occupied Area |
|
410,887 m2 |
|
Land-use Right |
|
Leased |
|
|
||
|
Representative
office in Ho Chi Minh |
||
|
Address |
|
No. 65, Nguyen Du Room 4B1, 4th Floor, 1
District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 38231970 |
|
Fax |
|
(84-8) 38231971 |
|
|
||
|
SUBSIDIARIES AND
RELATED COMPANIES |
||
|
|
||
|
1. PARENT
COMPANY - HYOSUNG CORPORATION |
||
|
Address |
|
21-1, Seosomun-dong Chung-ku - Seoul 100-110, Korea, South |
|
Tel |
|
82 (2) 3707-1806 |
|
Fax |
|
82 (2) 3707-2305 |
|
Website |
|
|
|
|
||
|
DIRECTORS |
||
|
|
||
|
1.
NAME |
|
Mr.
KIM CHI HYUNG |
|
Position |
|
General Director |
|
Date of Birth |
|
23 Nov 1961 |
|
ID Number/Passport |
|
M42830297 |
|
ID Issue Date |
|
22 Feb 2010 |
|
ID Issue Place |
|
Korea |
|
Resident |
|
307-601 Donga APT,
933-7 (13/1) Pyeong-chon-dong, Anyang City, Kyonggi-do 467-850, Korea, South |
|
Nationality |
|
Korean |
|
|
||
|
2.
NAME |
|
Mr.
DANG BUU PHUONG |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 918 539 359 |
|
Email |
|
phuongdang@hyosung.com |
|
|
||
|
BUSINESS NATURE
AND ACTIVITIES |
|
|
|
The
subject is specialized in manufacturing and trading spandex fabric, nylon and
polyester cloths... |
|
|
|
IMPORT &
EXPORT ACTIVITIES |
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Materials, machines |
|
·
Market |
|
Korea, China, Japan, USA, Germany ... |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Goods |
|
·
Market |
|
Korea, USA, Japan |
|
BANKERS |
||
|
|
||
|
1.
INDUSTRIAL BANK OF KOREA |
||
|
Address |
|
No.34 Le Duan Str, District 1, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 38232661 |
|
Fax |
|
(84-8) 38232669 |
|
|
||
|
2.
WOORI BANK - HOCHIMINH CITY BRANCH |
||
|
Address |
|
2nd Floor , Kumho Aisana Plaza Saigon, 39 Le Duan Street, Ben Nghe Ward
, 1 District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3821 9839 |
|
Fax |
|
(84-8) 3821 9838 |
|
|
||
|
3.
JOINT STOCK BANK FOR FOREIGN TRADE OF VIETNAM NHON TRACH BRANCH |
||
|
Address |
|
Road No.25B Nhon Trach III Industrial Zone, Nhon Trach District, Dong
Nai Province, Vietnam |
|
Telephone |
|
(84-61) 3560033 |
|
Fax |
|
(84-61) 3560880 |
|
|
||
|
SHAREHOLDERS |
||
|
|
||
|
1.
NAME |
|
HYOSUNG
CORPORATION |
|
Address |
|
21-1, Seosomun-dong Chung-ku - Seoul
100-110, Korea, South |
|
Tel |
|
82 (2) 3707-1806 |
|
Fax |
|
82 (2) 3707-2305 |
|
Percentage |
|
71.43% |
|
|
||
|
2.
NAME |
|
HYOSUNG
INVESTMENT & DEVELOPMENT CORPOTATION |
|
Address |
|
450 Kongdok-Dong, Mapo-Gu , Korea, South |
|
Tel |
|
27077000 |
|
Percentage |
|
28.57% |
|
|
||
|
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 |
2,283,160,888,716
|
902,565,783,441 |
508,109,084,427 |
|
I. Cash and cash
equivalents |
1,020,343,208,698
|
324,654,591,054 |
96,081,504,350 |
|
1. Cash |
1,020,343,208,698 |
324,654,591,054 |
96,081,504,350 |
|
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 |
222,992,783,300 |
171,571,677,938 |
59,646,418,870 |
|
1. Receivable from customers |
89,002,369,856 |
89,891,007,295 |
53,214,845,677 |
|
2. Prepayments to suppliers |
55,788,228,190 |
0 |
6,358,729,093 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
79,695,380,066 |
82,553,071,862 |
72,844,100 |
|
6. Provisions for bad debts |
-1,493,194,812 |
-872,401,219 |
0 |
|
IV. Inventories |
875,251,275,347 |
362,885,991,487 |
281,004,253,759 |
|
1. Inventories |
875,251,275,347 |
362,885,991,487 |
281,004,253,759 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
164,573,621,371 |
43,453,522,962 |
71,376,907,448 |
|
1. Short-term prepaid expenses |
516,562,550 |
774,641,035 |
987,326,129 |
|
2. VAT to be deducted |
159,955,216,353 |
29,357,490,222 |
53,268,355,360 |
|
3. Taxes and other accounts receivable from the State |
0 |
9,926,186,550 |
12,839,494,283 |
|
4. Other current assets |
4,101,842,468 |
3,395,205,155 |
4,281,731,676 |
|
B. LONG-TERM
ASSETS |
8,295,649,137,218
|
5,026,627,956,231
|
4,162,946,543,575
|
|
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
|
7,783,806,911,396
|
4,534,036,089,927
|
3,975,645,846,371
|
|
1. Tangible assets |
7,036,918,429,962 |
3,701,555,692,444 |
2,519,733,418,999 |
|
- Historical costs |
8,023,661,507,192 |
4,185,810,854,256 |
2,519,733,418,999 |
|
- Accumulated depreciation |
-986,743,077,230 |
-484,255,161,812 |
0 |
|
2. Financial leasehold assets |
34,739,460,199 |
39,897,025,099 |
0 |
|
- Historical costs |
41,260,519,157 |
41,260,519,157 |
0 |
|
- Accumulated depreciation |
-6,521,058,958 |
-1,363,494,058 |
0 |
|
3. Intangible assets |
38,118,146,791 |
67,721,832,760 |
97,325,035,406 |
|
- Initial costs |
97,964,227,193 |
97,964,227,193 |
97,325,035,406 |
|
- Accumulated amortization |
-59,846,080,402 |
-30,242,394,433 |
0 |
|
4. Construction-in-progress |
674,030,874,444 |
724,861,539,624 |
1,358,587,391,966 |
|
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 |
511,842,225,822 |
492,591,866,304 |
187,300,697,204 |
|
1. Long-term prepaid expenses |
498,480,699,018 |
481,946,752,500 |
167,148,209,999 |
|
2. Deferred income tax assets |
10,645,113,804 |
10,645,113,804 |
20,152,487,205 |
|
3. Other long-term assets |
2,716,413,000 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
|
|
1. Goodwill |
0 |
0 |
|
|
TOTAL ASSETS |
10,578,810,025,934
|
5,929,193,739,672
|
4,671,055,628,002
|
LIABILITIES
|
|||
|
A- LIABILITIES |
8,890,619,827,913
|
4,774,538,165,964
|
3,810,782,855,648
|
|
I. Current
liabilities |
3,866,696,711,407
|
517,397,954,712 |
999,065,708,614 |
|
1. Short-term debts and loans |
2,559,445,983,485 |
|
169,770,000,000 |
|
2. Payable to suppliers |
1,249,292,897,040 |
476,005,332,133 |
799,873,998,784 |
|
3. Advances from customers |
6,050,926,772 |
0 |
5,732,068,112 |
|
4. Taxes and other obligations to the State Budget |
0 |
6,731,863,176 |
3,466,353,300 |
|
5. Payable to employees |
3,627,931,764 |
3,134,124,144 |
1,152,256,076 |
|
6. Accrued expenses |
31,655,996,307 |
27,271,008,439 |
17,618,264,426 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
16,622,976,039 |
4,255,626,820 |
1,452,767,916 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
5,023,923,116,506
|
4,257,140,211,252
|
2,811,717,147,034
|
|
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 |
5,023,815,437,221 |
4,256,886,978,418 |
2,811,404,025,784 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
107,679,285 |
253,232,834 |
313,121,250 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNERS
EQUITY |
1,688,190,198,021
|
1,154,655,573,708
|
860,272,772,354 |
|
I. OWNERS
EQUITY |
0 |
1,154,655,573,708
|
860,272,772,354 |
|
1. Capital |
1,126,336,210,470 |
1,126,336,210,470 |
1,126,336,210,470 |
|
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 |
16,845,092,777 |
-4,147,873,306 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
545,008,894,774 |
32,467,236,544 |
-266,063,438,116 |
|
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 |
|
MINORITYS
INTEREST |
0 |
0 |
|
|
TOTAL
LIABILITIES AND OWNERS EQUITY |
10,578,810,025,934
|
5,929,193,739,672
|
4,671,055,628,002
|
|
|
|||
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
6,187,605,183,237
|
3,581,838,195,387
|
772,377,611,549 |
|
2. Deduction item |
0 |
0 |
1,502,441,720 |
|
3. Net revenue |
6,187,605,183,237
|
3,581,838,195,387
|
770,875,169,829 |
|
4. Costs of goods sold |
4,673,381,168,449 |
2,583,965,217,158 |
735,375,231,049 |
|
5. Gross profit |
1,514,224,014,788
|
997,872,978,229 |
35,499,938,780 |
|
6. Financial income |
74,106,112,755 |
11,580,736,429 |
19,137,281,691 |
|
7. Financial expenses |
412,374,606,403 |
314,855,225,336 |
178,384,361,584 |
|
- In which: Loan interest expenses |
136,912,806,537 |
109,849,572,851 |
50,280,594,721 |
|
8. Selling expenses |
147,003,372,569 |
99,981,310,373 |
38,925,932,494 |
|
9. Administrative overheads |
535,692,279,508 |
328,488,193,175 |
130,505,184,818 |
|
10. Net operating profit |
493,259,869,063 |
266,128,985,774 |
-293,178,258,425
|
|
11. Other income |
31,393,610,473 |
38,784,453,827 |
24,605,855,197 |
|
12. Other expenses |
2,884,323,070 |
4,481,294,263 |
127,426,173 |
|
13. Other profit /(loss) |
28,509,287,403 |
34,303,159,564 |
24,478,429,024 |
|
14. Total accounting profit before tax |
521,769,156,466 |
300,432,145,338 |
-268,699,829,401
|
|
15. Current corporate income tax |
7,706,317,720 |
|
0 |
|
16. Deferred corporate income tax |
1,521,180,540 |
1,901,470,680 |
-20,152,487,205 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
512,541,658,206 |
298,530,674,658 |
-248,547,342,196
|
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
0.59 |
1.74 |
0.51 |
1.18 |
|
Quick liquidity ratio |
0.36 |
1.04 |
0.23 |
0.72 |
|
Inventory circle |
5.34 |
8.03 |
2.62 |
9.18 |
|
Average receive period |
13.15 |
17.48 |
28.24 |
64.20 |
|
Utilizing asset performance |
0.58 |
0.60 |
0.17 |
1.50 |
|
Liability by total assets |
84.04 |
80.53 |
81.58 |
69.79 |
|
Liability by owner's equity |
526.64 |
413.50 |
442.97 |
238.92 |
|
Ebit / Total assets (ROA) |
6.23 |
6.92 |
-4.68 |
6.08 |
|
Ebit / Owner's equity (ROE) |
39.02 |
35.53 |
-25.39 |
21.50 |
|
Ebit / Total revenue (NPM) |
10.65 |
11.45 |
-28.28 |
4.89 |
|
Gross profit / Total revenue (GPM) |
24.47 |
27.86 |
4.60 |
12.63 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
|
|
||||
PAYMENT HISTORY &
PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Uptrend |
|
Litigation data |
|
No record |
|
Bankruptcy |
|
No record |
|
Payment Methods |
|
T/T, L/C |
|
Sale Methods |
|
Distributor |
|
Public opinion |
|
Average |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
HYOSUNG
VIETNAM CO., LTD was established in 2007 under Investment Certificate No.
472023000143 granted by Dong Nai Industrial Zones Authority. It is a 100%
foreign invested company. The
subject is specialized in manufacturing and trading spandex fabric, nylon and
polyester cloths. It imports material and machines from some countries such
as: Korea, China, Japan, USA, Germany ...The companys products are exported
to Korea, America, and Japan. The
head office and factory are located in the area of 410,887 m2 on N2 Road,
Nhon Trach 5 Industrial Zone - Nhon Trach District - Dong Nai Province
Vietnam. It also has a representative office in Ho Chi Minh City Vietnam.
Now, the subject has about 2,200 employees. Its facilities and management
ability are considered at above average. According
to the financial statement of the subject, we can see that its financial
status was fair. Its total asset and total sale increased year after year.
Its total asset came from VND 750,653 million in 2007 to VND 10,578,810
million in 2010. The business result also increased sharply. In 2010, the
revenue reached VND 6,187,605 million. It was 72.7% increase in comparison
with the previous year. The profit after tax was fairly high with the value
of VND 512,541 million. This figure was 71.7% higher than 2009. Especially,
it was much higher than that of 2008 with the negative value of VND 248,547
million. In
term of financial ratios, as business results, its profitability ratios were
good. They were higher than average industry. However, other financial ratios
of the subject were not good. Specially, the current liquidity ratio and
quick liquidity ratio were quite low. In 2019, its current liquidity ratio
was only 0.59 (lower than 1). This means that the subject did not guarantee
financial security principles. Its financial leverage was high, too. It was
unsafe for its creditors. Talking
to accountant of the subject, it is preparing financial statement of 2011. It
will update for us in the future. In
overview, the subject is a medium - large company. Its operation and
activities have effective. However, it must be tried to increase its
liquidity ability. |
------------ 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.51.65 |
|
|
1 |
Rs.79.09 |
|
Euro |
1 |
Rs.65.32 |
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.