MIRA INFORM REPORT
|
Report Date : |
19.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
HAYEN CORPORATION |
|
|
|
|
Registered Office : |
No.3, CN6 Block, Tu Liem small and medium industrial
zone, Minh Khai Commune, Tu Liem District, Ha Noi City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1999 |
|
|
|
|
Com. Reg. No.: |
0103028500 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and trading industrial kitchen equipments |
|
|
|
|
No. of Employees
: |
150 |
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 Registered Name |
|
HAYEN CORPORATION |
|
Vietnamese Registered Name |
|
CONG TY CO PHAN HA YEN |
|
Registered short name |
|
HAYEN.,CORP |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
1999 |
|
Establishment Decision |
|
4083/GP-TLDN |
|
Date of Issuance |
|
08 Feb 1999 |
|
Place of Issuance |
|
Ha Noi People's Committee |
|
Business Registration No. |
|
0103028500 |
|
Date of Registration |
|
08 Dec 2008 |
|
Place of Registration |
|
Hanoi Department of Planning and Investing
|
|
Current registered capital |
|
VND 37,400,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0100850096 |
|
Total Employees |
|
150 |
|
Note: The given name HAYDEN CORPORATION is
not correct, the correct one as above. |
||
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered English Name:
HAYEN MANUFACTURING – TRADING COMPANY LIMITED Changed to: HAYEN CORPORATION |
08
Dec 2008 |
|
2 |
Subject has got former Business
Registration No: 070975 Changed to: 0103028500 |
08
Dec 2008 |
|
3 |
Subject has got former Type of Business: Limited
Liability Company Changed to: Joint Stock Company |
08
Dec 2008 |
company
ADDRESSES
|
Head Office |
||
|
Address |
|
No.3, CN6 Block, Tu Liem small and medium
industrial zone, Minh Khai Commune, Tu Liem District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3765 6979 / 3765 6976 |
|
Fax |
|
(84-4) 3765 6981 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Transaction
office in Ha Noi |
||
|
Address |
|
Room 1065 16th Floor Artex Building, No.
172 Ngoc Khanh, Ba Dinh District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3 773 0961 |
|
Fax |
|
(84-4) 3 773 0960 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
318A - Lac Long Quan Str - Ward 8 , Tan
Binh District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3975 1822 |
|
Fax |
|
(84-8) 3975 1824 |
|
Email |
|
|
|
Website |
|
|
DIRECTORS
|
1.
NAME |
|
Ms.
NGUYEN THI LAN ANH |
|
Position |
|
Director |
|
Date of Birth |
|
26 Jun 1964 |
|
ID Number/Passport |
|
011152127 |
|
ID Issue Date |
|
13 Sep 2004 |
|
ID Issue Place |
|
Hanoi Police Station |
|
Resident |
|
C1 - Nha May Nuoc
Team - Nghia Dung Str - Phuc Xa Ward , Ba Dinh District, Ha Noi City, Vietnam
|
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Ms.
NGUYEN THANH THUY |
|
Position |
|
Chief Accountant |
|
Email |
|
|
|
Nationality |
|
Vietnamese |
BUSINESS
NATURE AND ACTIVITIES
Manufacturing and trading industrial kitchen equipments.
IMPORT
& EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Industrial kitchen equipment. |
|
·
Market |
|
Italia,
America, China, Spain… |
|
·
Mode of payment |
|
T/T; L/C |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Industrial kitchen equipment |
|
·
Market |
|
Japan, Australia, China… |
|
·
Mode of payment |
|
T/T;L/C |
BANKERS
|
1.
DONG A COMMERCIAL JOINT STOCK BANK HA NOI BRANCH |
||
|
Address |
|
No.181 Nguyen Luong Bang Street, Dong Da District, Ha Noi City,
Vietnam |
|
Foreign account |
|
USD: 000150270005 EUR: 000150270004 |
|
Telephone |
|
(84-4) 3733 6113 |
|
Fax |
|
(84-4) 3733 9871 |
SHAREHOLDERS
|
1.
NAME |
|
Mr.
PHAM NGOC BAI |
|
ID Number/Passport |
|
011816006 |
|
Resident |
|
No.72B - Goup 39 - Hao Nam Str - O Cho Dua
Ward , Dong Da District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 16,860,000,000 |
|
Percentage |
|
45% |
|
|
||
|
2.
NAME |
|
Mr.
DUONG VAN HUNG |
|
ID Number/Passport |
|
012005313 |
|
Resident |
|
No.65 - Group 60 - Tuong Mai Ward , Hoang
Mai District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 1,840,000,000 |
|
Percentage |
|
5% |
|
|
||
|
3.
NAME |
|
Mr.
KIM QUANG TIEN |
|
ID Number/Passport |
|
0117894403 |
|
Resident |
|
Group 32 - Yen Hoa Ward , Cau Giay
District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 1,840,000,000 |
|
Percentage |
|
5% |
|
|
||
|
4.
NAME |
|
Ms.
NGUYEN THI LAN ANH |
|
Position |
|
Director |
|
Date of Birth |
|
26 Jun 1964 |
|
ID Number/Passport |
|
011152127 |
|
Issued on |
|
13 Sep 2004 |
|
Issued Place |
|
Hanoi Police Station |
|
Resident |
|
C1 - Nha May Nuoc Team - Nghia Dung Str -
Phuc Xa Ward , Ba Dinh District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 16,860,000,000 |
|
Percentage |
|
45% |
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 |
29,395,064,425 |
21,801,571,291 |
18,906,510,522 |
|
I. Cash and cash
equivalents |
470,166,269 |
610,537,710 |
92,932,164 |
|
1. Cash |
470,166,269 |
610,537,710 |
92,932,164 |
|
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 |
14,592,934,210 |
4,228,426,602 |
4,133,351,842 |
|
1. Receivable from customers |
13,887,107,041 |
2,681,128,852 |
3,497,857,582 |
|
2. Prepayments to suppliers |
705,827,169 |
1,362,768,202 |
632,812,380 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
0 |
184,529,548 |
2,681,880 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
14,331,963,946 |
16,962,606,979 |
14,601,026,516 |
|
1. Inventories |
14,331,963,946 |
16,962,606,979 |
14,601,026,516 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
0 |
0 |
79,200,000 |
|
1. Short-term prepaid expenses |
0 |
0 |
0 |
|
2. VAT to be deducted |
0 |
0 |
0 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
0 |
0 |
79,200,000 |
|
B. LONG-TERM
ASSETS |
31,100,080,150 |
35,762,301,818 |
12,141,259,166 |
|
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
|
25,522,480,150 |
30,155,261,818 |
12,141,259,166 |
|
1. Tangible assets |
5,782,849,106 |
9,402,676,018 |
10,743,871,398 |
|
- Historical costs |
13,693,893,243 |
15,750,977,167 |
16,933,626,999 |
|
- Accumulated depreciation |
-7,911,044,137 |
-6,348,301,149 |
-6,189,755,601 |
|
2. Financial leasehold assets |
0 |
1,012,954,756 |
1,257,756,724 |
|
- Historical costs |
0 |
1,965,027,606 |
1,965,027,606 |
|
- Accumulated depreciation |
0 |
-952,072,850 |
-707,270,882 |
|
3. Intangible assets |
19,739,631,044 |
19,739,631,044 |
139,631,044 |
|
- Initial costs |
19,824,775,492 |
19,824,775,492 |
224,775,492 |
|
- Accumulated amortization |
-85,144,448 |
-85,144,448 |
-85,144,448 |
|
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 |
4,400,000,000 |
4,400,000,000 |
0 |
|
1. Investments in affiliates |
4,400,000,000 |
4,400,000,000 |
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 |
1,177,600,000 |
1,207,040,000 |
0 |
|
1. Long-term prepaid expenses |
1,177,600,000 |
1,207,040,000 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
|
|
1. Goodwill |
0 |
0 |
|
|
TOTAL ASSETS |
60,495,144,575 |
57,563,873,109 |
31,047,769,688 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
21,101,134,586 |
19,977,103,456 |
21,916,439,642 |
|
I. Current
liabilities |
21,101,134,586 |
19,970,813,306 |
21,568,725,997 |
|
1. Short-term debts and loans |
16,078,042,659 |
8,524,937,934 |
6,525,929,915 |
|
2. Payable to suppliers |
3,358,239,648 |
4,320,313,170 |
1,938,490,498 |
|
3. Advances from customers |
1,051,731,634 |
6,646,510,038 |
12,165,413,191 |
|
4. Taxes and other obligations to the State Budget |
318,089,480 |
157,701,620 |
627,982,852 |
|
5. Payable to employees |
290,600,000 |
269,900,000 |
270,765,252 |
|
6. Accrued expenses |
2,476,400 |
0 |
0 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
1,954,765 |
51,450,544 |
40,144,289 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
0 |
6,290,150 |
347,713,645 |
|
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 |
6,290,150 |
347,713,645 |
|
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 |
39,394,009,989 |
37,586,769,653 |
9,131,330,046 |
|
I. OWNER’S
EQUITY |
39,394,009,989 |
37,586,769,653 |
9,131,330,046 |
|
1. Capital |
37,400,000,000 |
37,400,000,000 |
9,000,000,000 |
|
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 |
1,994,009,989 |
186,769,653 |
131,330,046 |
|
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 |
60,495,144,575 |
57,563,873,109 |
31,047,769,688 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
45,557,470,573 |
37,121,883,811 |
43,449,505,830 |
|
2. Deduction item |
121,248,776 |
22,469,832 |
0 |
|
3. Net revenue |
45,436,221,797 |
37,099,413,979 |
43,449,505,830 |
|
4. Costs of goods sold |
42,422,701,365 |
34,190,537,055 |
39,362,420,997 |
|
5. Gross profit |
3,013,520,432 |
2,908,876,924 |
4,087,084,833 |
|
6. Financial income |
79,170,059 |
15,434,055 |
30,479,237 |
|
7. Financial expenses |
1,034,584,197 |
726,082,035 |
1,293,278,690 |
|
- In which: Loan interest expenses |
|
|
0 |
|
8. Selling expenses |
0 |
155,632,600 |
292,598,899 |
|
9. Administrative overheads |
1,948,072,643 |
1,712,314,885 |
2,193,542,778 |
|
10. Net operating profit |
110,033,651 |
330,281,459 |
338,143,703 |
|
11. Other income |
5,181,974,602 |
38,723,625 |
538,588,053 |
|
12. Other expenses |
3,901,141,482 |
177,993 |
768,860,451 |
|
13. Other profit /(loss) |
1,280,833,120 |
38,545,632 |
-230,272,398 |
|
14. Total accounting profit before tax |
1,390,866,771 |
368,827,091 |
107,871,305 |
|
15. Current corporate income tax |
347,716,693 |
19,686,255 |
30,203,965 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
1,043,150,078 |
349,140,836 |
77,667,340 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.39 |
1.09 |
0.88 |
1.48 |
|
Quick liquidity ratio |
0.71 |
0.24 |
0.20 |
0.86 |
|
Inventory circle |
2.71 |
2.02 |
2.14 |
6.84 |
|
Average receive period |
117.23 |
41.60 |
34.72 |
57.12 |
|
Utilizing asset performance |
0.75 |
0.64 |
1.40 |
1.40 |
|
Liability by total assets |
34.88 |
34.70 |
70.59 |
53.27 |
|
Liability by owner's equity |
53.56 |
53.15 |
240.01 |
165.07 |
|
Ebit / Total assets (ROA) |
2.30 |
0.64 |
0.35 |
9.44 |
|
Ebit / Owner's equity (ROE) |
3.53 |
0.98 |
1.18 |
22.99 |
|
Ebit / Total revenue (NPM) |
3.05 |
0.99 |
0.25 |
6.94 |
|
Gross profit / Total revenue (GPM) |
6.61 |
7.84 |
9.41 |
16.18 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own statistical data |
||||
|
CASH
FLOW STATEMENT |
||
|
(Direct method) |
||
|
Items |
FY2010 |
FY2009 |
|
I. Cash flows
from operating activities |
||
|
1.Cash received from customers |
38,277,146,022 |
36,016,178,952 |
|
2. Cash paid to suppliers |
-41,263,428,549 |
-37,215,158,978 |
|
3. Cash paid to employees |
-3,633,400,000 |
-3,376,265,252 |
|
4. Interest paid |
-1,457,615,197 |
-749,551,823 |
|
5. Income taxes paid |
-388,460,251 |
-30,203,965 |
|
6. Other operating cash receipts |
77,428,970 |
12,715,890 |
|
7. Other operating payments |
0 |
-177,993 |
|
Net cash flows from operating activities |
-8,388,329,005 |
-5,342,463,169 |
|
II. Cash flows
from investing activities |
||
|
1. Purchases and construction of fixed assets and other long-term
assets |
-82,011,819 |
-17,857,143 |
|
2. Gains from disposals and liquidation of fixed assets and other
long-term assets |
0 |
0 |
|
3. Loans given and purchases of debt instruments of other entities |
0 |
0 |
|
4. Recovery of loans given and disposals of debt instruments of other
entities |
0 |
0 |
|
5. Investments into other entities |
0 |
-2,000,000,000 |
|
6. Withdrawals of investments in other entities |
0 |
0 |
|
7. Receipts of loan interests, dividends and profit shared |
838,594,893 |
-106,725,897 |
|
Net cash flows from investing activities |
756,583,074 |
-2,124,583,040 |
|
III. Cash flows from
financing activities |
||
|
1. Gains from stock issuance and capital contributions from
shareholders |
0 |
6,400,000,000 |
|
2. Repayment for capital contributions and re-purchases of stocks
already issues |
0 |
0 |
|
3. Short-term and long-term loans received |
33,017,651,170 |
17,687,554,023 |
|
4. Loan principal amounts repaid |
-25,515,736,445 |
-15,747,311,823 |
|
5. Payments for financial leasehold assets |
-10,540,235 |
-355,590,445 |
|
6. Dividends and profit already paid to the owners |
0 |
0 |
|
Net cash flows from financing activities |
7,491,374,490 |
7,984,651,755 |
|
Net cash flows during the year |
-140,371,441 |
517,605,546 |
|
Beginning cash and cash equivalents |
610,537,710 |
92,932,164 |
|
Effects of fluctuations in foreign exchange rates |
0 |
0 |
|
Ending cash and cash equivalents |
470,166,269 |
610,637,710 |
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Low |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Even |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
T/T; L/C |
|
Sale Methods |
|
Retailer and Wholesaler |
|
CREDIT INQUIRY: Subject can meet the credit of USD 20,000 and the max
credit of USD 150,000 |
INTERPRETATION ON THE SCORES
|
Started
with name “HA YEN MANUFACTURING TRADING COMPANY LIMITED”, subject was founded
in 1999 following decision No. 4083/GP-TLDN dated 8 Feb 1999 granted by Hanoi
People’s Committee. In 2008, subject’s type business was changed from limited
liability company to joint stock company. Business registration was changed
to which is No. 0103028500. Currently, subject registered capital of VND 37.4
billion with four shareholders. Subject is running by Ms. Nguyen Thi Lan Anh. Subject’s
head office is situated at No. No.3, CN06 Block, Tu Liem small and medium
industrial Zone - Tu Liem District - Ha Noi City – Vietnam. This is also its
factory with total area of 5,000 square meters. Besides, subject has
transaction office in Hanoi City and Hochiminh City. Now, subject is specializing
in producing and trading kitchen equipment, laundry equipment, refrigeration
equipment, stainless steel appliances, electrical equipment for hotels from 3
stars to 5stars, resorts such as Sofitel Metropole Hanoi, Sai Gon – Qui Nhon
Hotel, Imperial Hotel Hue, The Nam Hai Resort, Sheraton Hanoi, Vinpearl,
Mercure Hotel Hue, Four Point by Sheraton Ha Long Bay, Cendeluxe Hotel…
Subject is trading the products of Fagor, Primus, Wincool which are import
from Spain, Czech, Malaysia and so on. In addition, in 2004, subject has
started export to foreign country for M1 Co., Ltd (Japan), C1 Co., Ltd (Hong
Kong) and G-SPIT (Australia)… Financially,
in 2009 total sales was reduced by 15% in comparison with 2008. However, in
2010, revenue increased by 23% against 2009. In three recent years, costs of
goods sold had uptrend which occupied 91% (in 2008), 92% (in 2009) and 93%
(in 2010) total sales. In 2010, the expenses were higher so the business
profit was low. In
liability structure, in two recent years, liabilities only made up 35% total
asset, instead of 71% in 2008. Although business operation was good, but net
cash from operating activities was still lacked (in 2009: VND 5.3 billion, in
2010: VND 8.3 billion). General,
with a long time operation, subject has a stable customer amount. Financial
situation is average. No caution needed for the small business transactions. |
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.50.67 |
|
UK Pound |
1 |
Rs.77.72 |
|
Euro |
1 |
Rs.64.63 |
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.