MIRA INFORM REPORT

 

Report Date :

30.01.2012

 

IDENTIFICATION DETAILS

 

Name :

INTERPRINT DECOR (MALAYSIA) SDN. BHD.

 

 

Formerly Known As :

IP-DECOR (MALAYSIA) SDN.BHD.

 

 

Registered Office :

Lot 121, Jalan Permata 2 Arab-Malaysian Industrial Park Nilai Negeri Sembilan

71800

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

08.02.1995

 

 

Com. Reg. No.:

333049-D

 

 

Legal Form :

Private Company Limited By Shares

 

 

Line of Business :

Manufacture and sale of decorative paper for wide range of applications mainly in the furniture and decorative surface industry sector.

 

 

No. of Employees :

55 employees (Subject); 962 employees (Interprint Group)

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1,500,000

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)

Malaysia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

IDENTIFICATION DETAILS

 

 

Verified Address

 

Subject name                            :           INTERPRINT DECOR (MALAYSIA) SDN. BHD.

 

Business address                      :           Lot 121, Jalan Permata 2

Arab-Malaysian Industrial Park

Town                                         :           Nilai

Province                                    :           Negeri Sembilan

Zip/postal code                          :           71800

Country                                     :           Malaysia

Tel                                            :           +60 6 7994005

Fax                                           :           +60 6 7995986

Email                                        :           info@interprint.com.my

Website                                    :           www.interprint.com

 

 

Registered address                    :           C/o SYMPHONY CORPORATEHOUSE SDN BHD.

Level 8, Symphony House

Pusat Dagangan Dana 1

Jalan PJU 1A/46

 

Town                                         :           Petaling Jaya

Province                                    :           Selangor Darul Ehsan

Zip/postal code                          :           47301

Country                                                                                   :                       Malaysia

 

 

SUMMARY DETAILS

 

Executive Summary

 

Date founded or registered          :   08/02/1995

 

Legal form                                 :   Private Company Limited By Shares

 

Chief executive                          :   Siegmund Maierbrugger

 

Issued & paid up capital             :   MYR 19,033,411

 

Sales turnover                            :   MYR 67,602,311 (Non-consolidated 12 months, 31/12/2010)

Net income                                :   MYR 11,003,371 (Non-consolidated 12 months, 31/12/2010)

Total fixed assets                       :   MYR 54,965,832 (Non-consolidated 12 months, 31/12/2010)

Line of business                         :  Manufacture and sale of decorative paper for wide range of applications mainly in the furniture and decorative surface industry sector.

Staff employed                                                                        :   55 employees (Subject); 962 employees (Interprint Group)

 

CREDIT RISK OPINION

 

Company Analysis

 

Country risk                               :   Country risk is minimal

Operation trend                          :   Operational trend is progressing

Management experience :   Management is adequately experienced

Financial performance                :   Financial performance is good

Organization structure                :   Organizational structure is consistent

Detrimental                    :   No detrimental records found

Payment history                                    :   No payment delays noted

 

Credit amount suggestion     :   USD 1,500,000

 

Credit amount asked                  :   Not described

 

Comments                                                      :   Larger credit can still be considered.

 

 

STATUTORY DETAILS

 

 

Registry Data

 

Registration date            :   08/02/1995

Legal form                     :   Private Company Limited By Shares

Registration no                 333049-D

Registered authority       :   Companies Commission of Malaysia

Registry status              :   Live/Active

 

Previous name               :   The Subject was established under the name IP-DECOR (MALAYSIA) SDN.

BHD. and changed to the current style on 05-07-2000.

 

Change of legal form             :   None reported.

 

 

MANAGEMENT / DIRECTORS

 

Key Management

 

Name                :           Siegmund Maierbrugger

Designation       :           Managing Director

 

Name                :           Tan Chong Eng

Designation       :           Joint Managing Director

 

 

 

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

 

Appointments

 

Name                            :           Frank Schumacher

Designation                   :           Director

 Identification no :           5427059154

Appointment date           :           01/11/04

Address                        :           Wolfskamp 25

D-59846 Sundern (Sauerland) Germany

 

 

Name                            :           Thomas Wrede

Designation                   :           Director

Identification no              :           5663172325

Appointment date           :           23/10/00

Address                        :           Zum Herdringer Schloί 15

D-59757 Arnsberg

Germany

 

 

Name                            :           Helmut Schmidt

Designation                   :           Director

Identification no              :           5663204509

Appointment date           :           04/09/96

Address                        :           Schwiedinghauser Straίe 4

D-59755 Arnsberg

Germany

 

 

Name                            :           Tan Chong Eng

Designation                   :           Director

Identification no              :           590410-07-5607

Appointment date           :           07/03/03

Address                        :           142A, Jalan BU 6/2

Bandar Utama

47800 Petaling Jaya Selangor Darul Ehsan Malaysia

 

 

Name                            :           Siegmund Maierbrugger

Designation                   :           Director

Identification no              :           H02006065

Appointment date           :           05/11/03

Address                        :           12-20, OBD Garden Tower

Jalan Desa Utama, Off Jalan Kelang Lama

58100 Kuala Lumpur Wilayah Persekutuan Malaysia

 

Name                            :           Wong Siew Yeen

Designation                   :           Company Secretary

Identification no              :           700305-05-5166

Appointment date           :           09/12/10

Address                        :           3, Jalan SS 15/5E

47500 Subang Jaya Selangor Darul Ehsan Malaysia

 

 

Name                            :           Cheong Choon Yin

Designation                   :           Company Secretary

Identification no              :           711103-03-5216

Appointment date           :           09/12/10

Address                        :           No. 11, Jalan USJ 3/4J

47600 Subang Jaya Selangor Darul Ehsan Malaysia

 

Staff employed               :           55 employees (Subject); 962 employees (Interprint Group)

 

 

Key Advisors

 

Auditors                        :           PRICEWATERHOUSECOOPERS Level 10, 1 Sentral

Jalan Travers

Kuala Lumpur Sentral

50470 Kuala Lumpur

Malaysia

 

 

SHARE CAPITAL

 

Composition

 

Authorized Capital                              :   MYR 25,000,000

 

No of shares                                       :   25,000,000 Ordinary Shares

 

Share par value                                   :   MYR 1

 

Issued capital                                     :   MYR 19,033,411

 

Paid up capital                                   :   MYR 19,033,411

 

Changed in capital                              :   The Subject increased its share capital from MYR 5,000,000 to MYR 25,000,000 on 03-04-1998.

 

 

 

OWNERSHIP / SHAREHOLDERS

 

How listed                     :   Full List

 

Composition

 

Shareholder name          :   PROJEKTGESELLSCHAFT INTERPRINT ROTATIONSDRUCK MBH & CO.

KOMMANDITGESELLSCHAFT

 

Address                        :   Westring 22

59759 Arnsberg

Germany

 

No. of shares                 :   19,033,411 Ordinary Shares

 

% of shares                            :   100%

 

 

RELATED COMPANIES & CORPORATE AFFILIATIONS

 

Structure

 

Name                :   WREDE INDUSTRIEHOLDING GMBH & CO. KOMMANDITGESELLSCHAFT

Affiliation type    :   Ultimate Holding Company

Address            :   Goethestraίe 40

59755 Arnsberg

Germany

 

Comments        :   WREDE Industrieholding GmbH & CO. KG, through its subsidiaries, manufactures printed decorative surfaces and plastic household products in Germany and internationally. It imprints special paper with wood, creative, and stone decors. The company offers its decorative papers to wood-based products and flooring manufacturers for use in surfacing furniture, kitchens, laminate flooring, and interior finishing products. It provides plastic household products for retail chain stores, such as consumer outlets, do-it-yourself stores, and discounters in Europe. WREDE Industrieholding GmbH & CO. KG was formerly known as Niederbergheim. The company was founded in 1880 and is based in Arnsberg, Germany

 

WREDE INDUSTRIEHOLDING GMBH & CO. KG is the family-owned and has two subsidiaries INTERPRINT and OKT. INTERPRINT is one of the world’s leading manufacturers of decorative surfaces, while the OKT Group is an important manufacturer of plastic household products in Europe. The WREDE Group has a total of twelve production facilities – two in its home country Germany, and ten at various locations around the globe. The group achieves an annual turnover of €270 million and employs 1,400 people globally.

 

 

Name                :   INTERPRINT GMBH

Affiliation type    :   Intermediate Holding Company

Address            :   Westring 22

59759 Arnsberg

Germany

 

Comments        :   Interprint is one of the leading decor printers in the world. Interprint styles decorate the surfaces of numerous materials in the segment of derived timber products, including living room, kitchen and bathroom furniture, laminate flooring and for interior furnishing in trains, ships or in the recreational vehicle industry.

 

Worldwide, Interprint has seven locations with own production facilities, sales and service departments, three sales offices plus additionally one sales and service office in Italy. Furthermore, Interprint is represented on all continents by sales agencies.

 

The Interprint is wholly-owned of Wrede Industrieholding based in Arnsberg, Germany. The Wrede Industrieholding is a traditional, family-managed company with more than 125 years experience in derived timber products.

 

The Interprint prints on a total of 24 production machines with an overall capacity of 100,000 tons and has more than 950 employees.

 

Interprint’s world headquarters is situated in Arnsberg, where the company was founded in 1969.

 

Name                :   PROJEKTGESELLSCHAFT INTERPRINT ROTATIONSDRUCK MBH & CO.

KOMMANDITGESELLSCHAFT

Affiliation type    :   Parent Company

Address            :   Westring 22

59759 Arnsberg

Germany

 

Comments        :   Holding company.

 

Name                :   INTERPRINT (CHINA) DECORATIVE MATERIALS CO., LTD.

Affiliation type    :   Sister Company

Address            :   North Industrial Zone

Henglin Town

213101 Changzhou Jiangsu Province China

 

Comments        :   On 1 July 2003, the green light was given to INTERPRINT (China) Decorative Materials Co., Ltd. to begin production of decor papers for the Chinese market. The company is situated in Changzhou-Wujin, 130km west of Shanghai.

 

A large, 42,600m² building complex is the base for the production and sales of a wide range of products. Modern equipment, know-how and the commitment of the approximately 80 employees guarantee that the needs of both the market and its customers will be met effectively.

 

The current production capacity of its 5 printing machines is approximately 8,000 tons.

 

Name                :   OOO INTERPRINT RUS

Affiliation type    :   Sister Company

Address            :   P. Novij,100

140341 Moscow region District Egorjewsk Russia

Comments        :   Interprint opened a sales office in Moscow way back in 1990 in order to optimally serve the Eastern European market.

 

Due to the dynamic development of the Russian market and the strong demand for Interprint decors, the foundation stone for a production facility was laid in Egorievsk, about 100 kilometres south-east of Moscow in 2006.

 

About 70 staff are currently employed in Egorievsk; the first production machine contributes to the total capacity of almost 4,000 tons. A second production machine is planned in the medium term.

 

Name                :   INTERPRINT, INC.

Affiliation type    :   Sister Company

Address            :   101 Central Berkshire Boulevard

Pittsfield, MA 01201

United States

 

Comments        :   The US location, Interprint Inc., was founded in Pittsfield, Massachusetts in 1983.

Interprint moved into a completely new production and administration building in

2006.

 

About 130 employees currently work for Interprint Inc. Five printing machines, one of which has a width of up to 2,730 mm, three laboratory machines and an

in-house repro department supply the North American market with the latest decors.

 

Name                :   INTERPRINT ITALIA S.R.L.

Affiliation type    :   Sister Company

Address            :   Via Volta 32

37010 Affi (VR) Italy

 

Comments        :   INTERPRINT Italia S.r.l., was initially founded as a sales office in 1997 and in

2000 expanded into a Full-Service Centre with two laboratory machines and one Colour Matching System. Today, 16 employees work in Affi.

 

 

Name                :   INTERPRINT DECOR IBERIA S.L.

Affiliation type    :   Sister Company

Address            :   Av. Puente Cultural, 10B, 2 -9

28700 San Sebastian de los Reyes, Madrid

Spain

 

Comments        :   Sales office.

 

 

Name                :   INTERPRINT POLSKA SP. Z O.O.

Affiliation type    :   Sister Company

Address            :   Adamσwek 37 A

95-035 Ozorkσw

Poland

 

Comments        :   INTERPRINT Polska Sp. z o.o. was established in Ozorkσw near Lodz in 1998 and has substantially supported the economic development of the region.

 

In the beginning, Interprint Polska employed just one person. Currently, there are

133 employees working with a total of three production machines, of which one press prints up to a width of 2,730mm.

 

The maximum production capacity of the company is 25,000 tons per year.

 

Name                :   OOO INTERPRINT SAMARA

Affiliation type    :   Sister Company

Address            :   litera 22

Volzhskiy district, Smyshlyaevka

443548, Russia, Samara region Russia

 

Related companies and corporate affiliations comments :   Other companies of the Interprint and Wrede Group should be considered affiliates of the Subject.

 

 

BANK & MORTGAGES

 

Bank Details

 

Name of bank    :   Malayan Banking Berhad

Address            :   Malaysia

Account details  :   Current Account

 

 

Comments        :   It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.

 

Mortgages      :   Total of Charge: 2,700,000.00

Date of Creation: 22-11-1996

Name of Chargee: MALAYAN BANKING BERHAD Charge Status: UNSATISFIED

 

Total of Charge: 1,200,000.00

Date of Creation: 28-08-1999

Name of Chargee: MALAYAN BANKING BERHAD Charge Status: UNSATISFIED

 

Total of Charge: OPEN CHARGE Date of Creation: 18-02-2003

Name of Chargee: 1. DRESDNER BANK AG Charge Status: UNSATISFIED

 

Total of Charge: 6,200,000.00

Date of Creation: 17-04-2009

Name of Chargee: MALAYAN BANKING BERHAD Charge Status: UNSATISFIED

 

Legal Fillings

 

Bankruptcy fillings          :   None reported.

Court judgements           :   None reported.

Tax liens                       :   None reported.

Others                          :   None reported.

 

FINANCIAL DATA

 

Description

 

Source of financial statement               :   Commercial Registry Filings

 

Financial statement date                     :   31/12/10

 

Type of accounts                                :   Full audited

 

Currency                                            :   Malaysia, Ringgit (MYR)

 

Exchange rate                                                                                          :   1 USD = MYR 3.04 as of 26-01-2012

 

Summarized Financial Information

 

Consolidation type                              :

Non Consolidated

Non Consolidated

Currency                                            :

Malaysia, Ringgit (MYR)

Malaysia, Ringgit (MYR)

Denomination                                     :

(x1) One

(x1) One

Date of financial year end                    :

31/12/10

31/12/09

Length of accounts                             :

12 months

12 months

Sale turnover / Income                         :

67,602,311

58,980,443

Gross profit                                        :

21,791,133

17,743,278

Operating profit                                   :

14,279,841

10,992,783

Profit before tax                                  :

14,143,053

10,838,239

Net income                                        :

11,003,371

8,260,456

Non current assets                             :

24,752,336

24,479,262

Current assets                                    :

30,213,496

32,893,749

Inventories                                          :

13,324,580

13,265,085

Total assets                                       :

54,965,832

57,373,011

Current liabilities                                 :

10,788,736

14,571,286

Non current liabilities                           :

30,000

158,000

Total liabilities                                    :

10,818,736

14,729,286

Share equity                                       :

44,147,096

42,643,725

Retained earning                                 :

25,113,685

23,610,314

 

 

OPERATION DETAILS

 

Main activities    :   The Subject is engaged in manufacturing and sales of decorative paper for wide range of applications mainly in the furniture and decorative surface industry sector.

 

The Subject imprints special paper with wood and stone decors. Its customers are global wood-based products and flooring manufacturers that use the decorative paper for surfacing furniture, kitchens, laminate flooring and interior finishing products.

 

The Subject is own by INTERPRINT Group and ultimately owned by the privately held WREDE INDUSTRIEHOLDING GMBH & CO. KG. INTERPRINT is a leading manufacturer of printed decorative paper with 6 production facilities all over the world.

 

In 1989, INTERPRINT went global, with its first non-German production facility in North America. In the 1990s, large production facilities followed in Malaysia (1996) and Poland (1999). The two latest major investments were the move into China (2003) and an all-new factory for INTERPRINT USA (2005/2006).

 

With 24 gravure printing machines and over 900 employees, the company achieves a yearly turnover of €190 million. INTERPRINT imprints about 50,000 tons of decorative paper per year.

 

The Subject ultimate holding company WREDE INDUSTRIEHOLDING GMBH & CO. KG is the family-owned and has 2 subsidiaries INTERPRINT and OKT. INTERPRINT is one of the world’s leading manufacturers of decorative surfaces, while the OKT Group is an important manufacturer of plastic household products in Europe.

 

The WREDE Group has 12 production facilities – 2 in its home country Germany, and 10 at various locations around the globe. The group achieves an annual turnover of €270 million and employs 1,400 people globally.

 

Product & services         :   Products:

Printed decorative paper

 

Services:

Imprints special paper with wood and stone decors.

 

Purchases

 

International    :   Asian countries

 

Sales

 

Local                :   Yes

 

International       :   Korea, Taiwan, Thailand, Japan, Pakistan, Middle East, Singapore , Vietnam , Hong Kong, India, Australia, New Zealand, Indonesia , Philippines

 

 

Key events        :   23 March 2011

Wrede Group reports strong sales increase in 2010

 

Profit improved as well compared to last year, but fell short of expectations due to the ex-treme raw material price increases. Despite continuous productivity improvements this addi-tional burden could not fully be passed on to the market in time, considerably straining prof-itability.

 

Following the acquisition of Coveright's impregnation business in Samara/Russia the group produces in 12 locations worldwide. The number of employees increased by 7.2% to reach 1.465 at year end. At the largest site in Arnsberg the workforce increased by 17 to a total of 345 employees.

 

Investments during the past year focused on the expansion of the Decorative Surfaces divi-sion's Russian activities as well as the implementation of a Europe-wide integrated IT system for OKT Group. Wrede Group's investments in 2010 totaled approximately 34 Mio €.

 

INTERPRINT Group significantly benefited from the economic upswing in

2010. The group's sales showed double digit growth in all locations with especially strong increases in Russia and Malaysia. Dedicated distribution subsidiaries were established in Spain and Tur-key. Overall revenue of the Decorative Surfaces division in 2010 grew by 30% to 201 Mio €.

 

To take full advantage of the dynamic growth in Russia INTERPRINT

expanded its decor printing facilities in Egorievsk near Moscow (opened in

2008) by installing a second printing machine and erecting an additional logistics building. With the acquisition of the Russian subsidiary of Coveright Group in Samara INTERPRINT increased vertical integration and is now able to offer its Russian customers dιcor printing and impregnation products from a single source.

 

Equally encouraging was the development of the furniture film business with production at INTERPRINT's Polish location. Sales of so-called finish foil doubled to more than 24 Mio sqm.

 

Joint venture Asia Pacific Engravers (APE) in Malaysia, in which INTERPRINT has a 50% stake, entered into a joint venture with a local engraver in Vietnam. Using state-of-the-art technology the new company produces rotogravure cylinders for the Vietnamese market.

 

The Household Products division benefited from OKT Group's position as a leading Euro-pean supplier of household products made of plastic. In the environment of economic recov-ery revenues showed double digit growth.

 

This growth was fueled by the introduction of numerous new products as well as the expansion of the baby product collection.

 

OKT laid the foundation for further growth by investing into the implementation of a Eu-rope-wide integrated IT system in order to optimize production and logistics.

 

Outlook

 

Wrede Group feels fully confirmed in its strategic orientation towards consistent internationalization and expansion of its leadership in technological excellence.

 

In the Decorative Surfaces division especially the Russian business will benefit from the start-up of a second printing machine in Egorievsk and a third impregnation line in Samara as well as from the impetus of partnering with German impregnation specialist BMK, who acquired a minority stake in Interprint Samara at the beginning of 2011.

 

The Household Products division will open up additional sales potential by extending its collection of baby products and expanding the "private label" business.

 

Particular cause for concern in both divisions is the extreme increase in raw material costs that persistently continues in the first months of 2011.

 

Wrede Group has planned investments of approximately 25 Mio € for 2011. The emphasis will be on the completion of the Egorievsk and Samara expansion plans, installing an additional lacquering line for finish foil production in Poland and expanding logistics capacities at OKT Poland.

 

Wrede Industrieholding as a successful family-owned business with more than 130 years of tradition continues to be strong and flexible in adjusting

to changing market conditions. Therefore the group is well prepared to take advantage of any opportunities arising from the expected market consolidation.

 

 

 

Property & Assets

 

Premises          :   The Subject operates from premises located at the verified heading address consisting of production facilities, warehouse and administrative office.

Branches          :   None reported.

 

Other property   :   Total NBV of property, plant and equipment as of 31-12-2010 was MYR

19,380,785.

 

 

SUMMARIZED COUNTRY RISK

 

Gross Domestic Products (GDP) & Economic Overview

 

Central bank                                          :   Central Bank of Malaysia

 

Reserve of foreign exchange & gold         :   US$ 133.6 billion as of 31 December 2011

 

Gross domestic product - GDP               :   US$ 247.781 billion

 

GPP (Purchasing power parity)               :   US$ 442.01 billion of International dollars

 

GDP per capita - current prices               :   US$ 8,624

 

GDP - composition by sector                  :   agriculture: 9.4% industry: 40.9% services: 49.7%

 

Inflation                                                 :   2008: 5.4%

2009: 0.6%

2010: 1.7%

 

Unemployment rate                                :   2008: 3.3%

2009: 3.6%

2010: 3.3%

 

 

Public debt

(General Government gross debt as a % GDP) :   2008: 42.8%

2009: 55.4%

2010: 54.2%

 

Government bond ratings                        :   Standard & Poor's: A-/Stable/A-2

Moody's rating: A3

Moody's outlook: STA

 

Market value of publicly traded shares      :   US$420 billion

 

Largest companies in the country            :   CIMB Group Holdings (Banking), Sime Darby (Conglomerates), Public

Bank Berhad (Banking), Maybank (Banking), Tenaga Nasional Berhad(Utilities), Petronas Chemicals, Maxis Berhad

 

Trade & Competitiveness Overview

 

Total exports                 :   US$210.3 billion

 

Exports commodities     :   electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals

 

Total imports                 :   US$156.2 billion

 

Imports commodities      :   electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals

 

Export - major partners   :   US 15.6%, Singapore 14.6%, Japan 9.1%, China 8.8%, Thailand 5%, Hong

Kong 4.6%

 

Import - major partners   :   Japan 13%, China 12.9%, Singapore 11.5%, US 10.8%, Taiwan 5.7%, Thailand 5.3%, South Korea 4.9%, Germany 4.6%, Indonesia 4.2%

 

FDI Inflows                    :   2007: US$8,538 million

2008: US$7,318 million

2009: US$1,381 million

 

FDI Outflows                  :   2007: US$11,280 million

2008: US$14,988 million

2009: US$8,038 million

 

Best countries for doing business:   21 out of 183 countries

 

Global competitiveness ranking   :   26 (ranking by country on a basis of 133, the first is the best)

 

 

Country and Population Overview

 

 

Total population :   28.23 million

 

Total area          :   329,847 km2

 

Capital              :   Kuala Lumpur

 

Currency         :   Malaysia Ringgits (MYR)

 

Internet users as % of total population:   57.61%

 

 

PAYMENT HISTORY

 

Purchase Term

 

Local                                                 :   Prepayment, Document against document, Credit up to 180 days

 

International                                       :   Prepayment, L/C, Document against document, Credit up to 180 days

 

 

Sales Term

 

Local                                                 :   Prepayment, Document against document, Credit up to 180 days

 

International                                       :   Prepayment, L/C, Document against document, Credit up to 180 days

 

 

Trade Reference/ Payment

Behaviour

 

Comments                                         :   As local and international trade references were not supplied, the Subject's payment track record history cannot be appropriately determined but based on our research, payments are believed to be met without delay.

 

 

Investigation Note

 

Sources                                             :   Interviews and material provided by the Subject

 

:   Other official and local business sources

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.64

UK Pound

1

Rs.77.79

Euro

1

Rs.65.05

 

 

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

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NB

                                       New Business

 

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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.