MIRA INFORM REPORT

 

 

Report Date :

25.07.2012

 

IDENTIFICATION DETAILS

 

Name :

PACIFIC OCEAN ENGINEERING & TRADING PTE LTD

 

 

Registered Office :

302 Jalan Besar #03-01 Singapore 208963

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

31.10.1990

 

 

Com. Reg. No.:

199005374C

 

 

Legal Form :

Limited Exempt Private Company

 

 

LINE OF BUSINESS :

SHIPBUILDING ENGINEERING AS WELL AS TRADING OF MARINE EQUIPMENT

 

 

No. of Employees :

Not Available

 

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

                            

Company Name:

Registered Number:

PACIFIC OCEAN ENGINEERING & TRADING PTE LTD

199005374C

 

Date Incorporated:

Registered Office:

Telephone Number:

31/10/1990

302 JALAN BESAR #03-01 SINGAPORE 208963

6296 4878

Age of Company:

Website:

Industry Type:

22

NA

TRANSPORT/STORAGE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

1

NA

The entity is paying current to the creditors

No. of Charges(s):
11

Industry DTC

 

30

 

Directors

 

Corporate Structure

Number of Current Directors

2

Holding Company:

POET INVESTMENT HOLDINGS PTE. LTD.

Number that are shareholders

1

No. of Subsidiaries & Associated Companies:

NA

 

 

 

EXECUTIVE SUMMARY

 

Company Name

:

PACIFIC OCEAN ENGINEERING & TRADING PTE LTD

Registration No

:

199005374C

Date of Registration

:

31/10/1990

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

302 JALAN BESAR #03-01 SINGAPORE 208963

Date of Change of Address

:

22/12/2008

Contact No.

:

6296 4878

Fax No.

:

6296 4829

Website

:

NA

Registered Activities

:

1. ENGINEERING ACTIVITIES NEC

2. GENERAL BUILDING ENGINEERING SERVICES

SHIPBUILDING ENGINEERING AS WELL AS TRADING OF MARINE EQUIPMENT

Issued Ordinary Capital*

:

$1,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$1,000,000.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

NA

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

NA

No. of Local Associates

:

NA

Auditor

:

ADEPT PUBLIC ACCOUNTING CORPORATION

Bankers / Financiers

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

STANDARD CHARTERED BANK

DBS BANK LTD.

CITIBANK N.A.

THE BANK OF EAST ASIA LIMITED

OVERSEA-CHINESE BANKING CORPORATION LIMITED

UNITED OVERSEAS BANK LIMITED

KTB LIMITED

Turnover

:

SINGAPORE, DOLLARS 169,660,886.53 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 129,881,412.58 (FY2010)

No. of Bank Charges

:

11

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

786 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2010/2011)

1239 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

627 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

613 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2009/2010)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

POET INVESTMENT HOLDINGS PTE. LTD.

SHAREHOLDER ID

:

200312164N

NATIONALITY

:

SINGAPORE

ADDRESS

:

302 JALAN BESAR #03-01 SINGAPORE 208963

NO. OF ORD SHARES

:

1,000,000

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

QUAH PENG WAH

ADDRESS

:

12 LORONG LIMAU #10-07 PARC HAVEN SINGAPORE 328741

POSITION

:

DIRECTOR

DATE OF APPT

:

31/10/1990

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1115893E

 

NAME

:

QUAH KIAN BENG

ADDRESS

:

30 STURDEE ROAD #21-06 KERRISDALE SINGAPORE 207852

POSITION

:

DIRECTOR

DATE OF APPT

:

30/12/1996

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1602025G

 

NAME

:

LIM LAY HOON (LIN LIYUN)

ADDRESS

:

550 WOODLANDS DRIVE 44 #02-80 SINGAPORE 730550

POSITION

:

SECRETARY

DATE OF APPT

:

30/12/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7404153A

 

 

 

KEY PERSONNEL PROFILE

 

Name:

QUAH PENG WAH

NRIC Number:

S1115893E

Available Address:

12 LORONG LIMAU #10-07 PARC HAVEN  SINGAPORE 328741

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

ARAQ HOLDING PTE. LTD.

DIRECTOR

20/08/2007

-

-

2

HARBOUR MARITIME SERVICES PTE. LTD.

DIRECTOR

15/10/2004

-

-

3

HOE EE MARINE PTE LTD

DIRECTOR

01/02/1993

-

-

4

HOE EE TRADING PRIVATE LIMITED

DIRECTOR

25/10/1983

450000

90.00

5

HOE EE TRADING PRIVATE LIMITED

MANAGER

28/12/1987

450000

90.00

6

MASIN MARITIME SERVICES PTE. LTD.

DIRECTOR

16/04/2002

-

-

7

OCEANIC MARINE SERVICES PTE. LTD.

DIRECTOR

09/09/2009

-

-

8

PAC-OCEAN SHIPPING & TRADING PTE LTD

DIRECTOR

01/07/2002

-

-

9

PAC-ORIENT MARITIME PTE. LTD.

DIRECTOR

30/04/2003

-

-

10

PAC-UNION MARINE SERVICES PTE. LTD.

DIRECTOR

30/04/2003

-

-

11

PACIFIC GLOBAL OFFSHORE SERVICES PTE. LTD.

DIRECTOR

22/07/2011

-

-

12

PACIFIC OCEAN ENGINEERING & TRADING PTE LTD

DIRECTOR

31/10/1990

-

-

13

PACIFIC OCEAN ENGINEERING & TRADING PTE LTD

MANAGING DIRECTOR

01/12/1995

-

-

14

POET INVESTMENT HOLDINGS PTE. LTD.

DIRECTOR

01/12/2003

5040000

90.00

15

POET SHIPBUILDING & ENGINEERING PTE. LTD.

DIRECTOR

19/06/2007

-

-

16

SATRIA SAMUDRA PTE LTD

DIRECTOR

24/07/1996

-

-

17

SINO-OCEAN MARITIME PTE. LTD.

DIRECTOR

12/12/1998

-

-

18

WINBUILD MARITIME SERVICES PTE LTD

DIRECTOR

02/05/2001

2

0.00

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

ARAQ HOLDING PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

21/02/2012

2

HOE EE MARINE PTE LTD

LIVE COMPANY

SHAREHOLDER

-

27/06/2012

3

HOE EE TRADING CO

TERMINATION

OWNER

01/12/1980

01/11/1983

4

JESTA PTE LTD

STRUCK OFF

DIRECTOR

20/05/1995

05/03/2008

5

KOYO MANUFACTURING (SINGAPORE) PTE LTD

DISSOLVED - CREDITORS' VOLUNTARY WINDING UP

DIRECTOR

12/01/1996

11/01/2008

6

KOYO MANUFACTURING (SINGAPORE) PTE LTD

DISSOLVED - CREDITORS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

7

MARBLETEX SALES (S) PTE LTD

STRUCK OFF

DIRECTOR

01/10/1985

28/03/1988

8

MARBLETEX SALES (S) PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

9

MARINE PROJECTS SINGAPORE PTE. LTD.

LIVE COMPANY

DIRECTOR

02/01/2003

11/02/2008

10

MARINE-LINK PTE LTD

LIVE COMPANY

DIRECTOR

09/09/1992

02/05/1994

11

MASIN MARITIME SERVICES PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

07/03/2012

12

OCEANIC MARINE SERVICES PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

19/07/2012

13

PAC-OCEAN SHIPPING & TRADING PTE LTD

LIVE COMPANY

DIRECTOR

24/01/1992

06/12/2011

14

PAC-ORIENT MARINE SERVICES PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

11/10/1993

11/01/2005

15

PAC-ORIENT MARINE SERVICES PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

16

PAC-ORIENT MARITIME PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

22/02/2011

17

PAC-UNION MARINE SERVICES PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

02/04/2012

18

PAC-UNION SHIPPING & TRADING PTE LTD

STRUCK OFF

DIRECTOR

16/05/1992

04/12/2003

19

PAC-UNION SHIPPING & TRADING PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

20

PACIFIC OCEAN ENGINEERING & TRADING PTE LTD

LIVE COMPANY

SHAREHOLDER

-

04/07/2012

21

QAL OFFSHORE SERVICES PTE LTD

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

24/08/1998

12/01/2006

22

QAL OFFSHORE SERVICES PTE LTD

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

23

QS AGENCY PTE LTD

STRUCK OFF

DIRECTOR

15/10/1996

11/05/2002

24

QS MARINE PTE LTD

STRUCK OFF

DIRECTOR

08/12/1993

26/01/2002

25

QS MARINE PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

26

SEA WIN MARINE CHARTERING PTE. LTD.

STRUCK OFF

DIRECTOR

07/08/2002

26/09/2003

27

SINO-OCEAN MARITIME PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

27/01/2012

28

TANJUNG BAHARI SHIPPING PTE LTD

STRUCK OFF

DIRECTOR

06/08/1996

25/10/2002

29

TANJUNG BAHARI SHIPPING PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

30

TRIO MARINE (INTERNATIONAL) PTE. LTD.

IN LIQUIDATION - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

08/02/2007

-

31

WINBUILD PETROFIN PTE. LTD.

LIVE COMPANY

DIRECTOR

22/08/1996

23/05/2001

 

 

Bankruptcy Record

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

 

Litigation Search – Writ of Summons

 

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

NA

 

                                                                                                                       

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 11 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201207608

 

Date of Registration

:

09/07/2012

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

2)

Charge No.

:

C201004322

 

Date of Registration

:

24/05/2010

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

3)

Charge No.

:

C200906123

 

Date of Registration

:

28/09/2009

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

4)

Charge No.

:

C200806413

 

Date of Registration

:

15/07/2008

 

Chargee

:

CITIBANK N.A.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 TEMASEK AVENUE #12-00 CENTENNIAL TOWER SINGAPORE 039190

 

5)

Charge No.

:

C200803667

 

Date of Registration

:

18/04/2008

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

6)

Charge No.

:

C200602828

 

Date of Registration

:

03/05/2006

 

Chargee

:

THE BANK OF EAST ASIA LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

60 ROBINSON ROAD BEA BUILDING SINGAPORE 068892

 

 

7)

Charge No.

:

C200602028

 

Date of Registration

:

29/03/2006

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513

 

8)

Charge No.

:

C200402869

 

Date of Registration

:

15/06/2004

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

9)

Charge No.

:

C200401232

 

Date of Registration

:

15/03/2004

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513

 

10)

Charge No.

:

C200400147

 

Date of Registration

:

09/01/2004

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513

 

11)

Charge No.

:

9402981

 

Date of Registration

:

28/05/1994

 

Chargee

:

KTB LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

LITIGATION

 

To date, there have been 1 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2012

Past Years

Bef 01 Jan 2012

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

2

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

13212

 

Transfer

:

-

 

Date of Filing

:

03/06/1998

 

Amount

:

4,686.50

 

Cause

:

Contracts - Renovations

 

Case Status

:

CONCLUDED

 

Plaintiff

:

CDBIZ DIRECTORIES PTE LTD

 

2)

Court

:

Magistrate Court

 

Case No.

:

1128

 

Transfer

:

-

 

Date of Filing

:

14/01/1999

 

Amount

:

10,000.00

 

Cause

:

Contracts - Sale of Goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

ONG ENG GIOW (SUING AS A PARTNERSHIP)

 

 

 

COMPLIANCE

 

Date of Last AGM

:

26/08/2011

Date of Last AR

:

29/09/2011

Date of A/C Laid At Last AGM

:

31/12/2010
 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN OR ACCOUNTS LATE

 

Note:

 

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

 

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

 

For more information: www.acra.gov.sg/compliance

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

169,660,887

-55.05

377,426,075

296,652,674

255,450,752

178,861,083

Profit/(Loss) Before Tax

38,930,835

-10.43

43,465,945

43,024,387

19,951,341

16,386,022

Profit After Tax attributable

 to Shareholders

31,968,370

-10.76

35,822,049

35,469,887

16,388,219

13,110,413

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

256,912,266

8.36

237,090,229

270,091,672

205,511,184

68,362,838

Current Assets

256,325,580

8.36

236,550,370

269,601,973

205,009,003

68,102,402

Non Current Assets

586,686

8.67

539,859

489,699

502,181

260,436

 

 

 

 

 

 

 

Total Liabilities

127,030,854

-4.04

132,381,990

198,788,851

167,312,698

45,407,618

Current Liabilities

125,135,668

-3.17

129,230,097

198,684,261

167,159,227

45,407,618

Non Current Liabilities

1,895,186

-39.87

3,151,893

104,590

153,471

0

 

 

 

 

 

 

 

Shareholders' Funds

129,881,413

24.04

104,708,238

71,302,822

38,198,485

22,955,221

Share Capital

834,785

-6.49

892,720

865,629

921,851

971,948

Total Reserves

129,046,627

24.30

103,815,518

70,437,193

37,276,634

21,983,273

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-55.05

27.23

16.13

42.82

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

18.84

9.49

11.96

6.42

7.33

Return on Equity (%)

24.61

34.21

49.75

42.90

57.11

Return on Assets (%)

12.44

15.11

13.13

7.97

19.18

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.98

1.26

2.79

4.38

1.98

Current Debt/Equity (Times)

0.96

1.23

2.79

4.38

1.98

Long Term Debt To Equity (Times)

0.01

0.03

0.00

0.00

0.00

Total Asset To Total Equity (Times)

1.98

2.26

3.79

5.38

2.98

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.66

1.59

1.10

1.24

2.62

Fixed Assets Turnover (Times)

289.19

699.12

605.79

508.68

686.78

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.05

1.83

1.36

1.23

1.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 18.84 per cent in FY10 (FY09: 9.49 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.19 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.09 a year ago.

 

Liquidity

 

Current ratio stood at 2.05 times in FY10 (FY09: 1.83 times). This means that the company has SINGAPORE, DOLLARS 2.05 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

 

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

 

 

 

 

 

FINANCIAL COMMENTARY

 

Leverage

Total debt-to-equity ratio notched 0.98 times in FY10, as compared with 1.26 times in FY09. This means that the company requires additional external financing of SINGAPORE, DOLLARS 0.98 for every SINGAPORE, DOLLARS injected into its operations.

 

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

 

 

Efficiency Ratio

 

Return on equity was 24.61 per cent for Subject in the current financial period, as compared to 34.21 per cent a year ago. The return on equity measures the return earned on the owner's investment.  Generally, the higher this return, the better off the owner.

 

Return on assets stood at 12.44 per cent (FY09: 15.11 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

Total assets turnover ratio logged at 0.66 times in FY10 (FY09: 1.59 times). This ratio measures the company's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.01

UK Pound

1

Rs.86.89

Euro

1

Rs.67.83

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.