MIRA INFORM REPORT
|
Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
DANANG CHEMICAL AND ELECTRICAL MATERIALS
JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
No. 89, Thai Phien Str., Phuoc Ninh Ward, Hai
Chau District, Da Nang City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1976 |
|
|
|
|
Com. Reg. No.: |
0400432621 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading, Importing and Exporting polypropylene resin, polyethylene resin, chemicals, paints and paints materials, zinc ingot, base metals, solvents, light Bulbs, welding electrodes, vehicles, agricultural machinery and other equipments of production |
|
|
|
|
No. of Employees
: |
55 |
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 |
Current legal status
|
||
|
English Name |
|
DANANG CHEMICAL AND ELECTRICAL MATERIALS
JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN HOA CHAT VAT LIEU DIEN DA
NANG |
|
Short name |
|
CEMACO DANANG |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
1976 |
|
Business Registration No. |
|
0400432621 |
|
Date of Registration |
|
31 Jul 2009 |
|
Place of Registration |
|
Da Nang Province Department of Planning
and Investment |
|
Current registered capital |
|
VND 18,492,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0400432621 |
|
Total Employees |
|
55 |
|
Size |
|
Medium |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Address: No. 245, Phan
Chau Trinh Str., Phuoc Ninh Ward, Hai Chau Dist., Da Nang City Changed to: No. 89, Thai Phien Str., Phuoc
Ninh Ward, Hai Chau Dist., Da Nang City |
31
Mar 2009 |
|
2 |
Subject has got former Business
Registration No: 3203000051 (Date on October 7th 2002) Changed to:
0400432621 |
31
Jul 2009 |
|
3 |
Subject has got former registered capital:
VND 8,515,500,000 Changed to: VND 15,016,500,000 |
31
Jul 2009 |
|
4 |
Subject has got former Registered capital:
VND 15,016,500,000 Changed to: VND 18,492,000,000 |
01
Jul 2010 |
|
Head Office |
||
|
Address |
|
No. 89, Thai Phien Str., Phuoc Ninh Ward,
Hai Chau District, Da Nang City, Vietnam |
|
Telephone |
|
(84-511) 3827598/ 382 2630/ 3822 803 |
|
Fax |
|
(84-511) 382 1212/ 3561 849 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Branch in Da
Nang |
||
|
Address |
|
No. 92A, Phan Thanh Str., Thach Giam Ward,
Thanh Khe District, Da Nang City, Vietnam |
|
Telephone |
|
(84-511) 365 3331 |
|
Fax |
|
(84-511) 382 5309 |
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
No. 33A1, Dinh Bo Linh Str., Ward 26, Binh
Thanh District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 511 4404 |
|
Fax |
|
(84-8) 511 4404 |
|
|
||
|
Branch in Ha Noi
|
||
|
Address |
|
No. 10, Alley 62, Mai Dong Str., Mai Dong Ward,
Hoang Mai District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3633 9050/ 3633 9051 |
|
Fax |
|
(84-4) 3633 9052 |
|
|
||
|
Branch in Da
Nang |
||
|
Address |
|
No. 600A, Ong Ich Khiem Str., Hai Chau
District, Da Nang City, Vietnam |
|
Telephone |
|
(84 511) 358 4070 |
|
Fax |
|
(84 511) 358 4070 |
|
1. VIET PHAT
PACKING AND PLASTICS COMPANY LIMITED |
||
|
Business Registration |
|
3300483843 |
|
Date of Registration |
|
01 Nov 2011 |
|
Place of Registration |
|
Planning and Investment Department of Thua
Thien-Hue Province |
|
Tax code |
|
3300483843 |
|
Address |
|
Road No. 4, Phu Bai Industrial Zone, Huong Thuy District, Thua
Thien-Hue Province, Vietnam |
|
Tel |
|
(84-54) 3242412 |
|
Fax |
|
(84-53) 3951323 |
|
1.
NAME |
|
Mr.
NGUYEN VAN PHUC |
|
Position |
|
Chairman and General Director |
|
Date of Birth |
|
01 Jan 1960 |
|
ID Number/Passport |
|
201110203 |
|
ID Issue Date |
|
05 May 1995 |
|
ID Issue Place |
|
Da Nang Police
Department |
|
Resident |
|
No. 21, Nguyen Thai
Hoc Str., Hai Chau District, Da Nang City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
(84) 903509535 |
|
|
||
|
2.
NAME |
|
Mr.
DOAN ANH MY |
|
Position |
|
Deputy General Director |
|
Resident |
|
74 Thai Phien, Hai
Chau District, Da Nang City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
3.
NAME |
|
Mr.
LE TU TRUNG TIN |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
The subject registers on: - Trading, Importing and Exporting polypropylene
resin, polyethylene resin, chemicals, paints and paints materials, zinc
ingot, base metals, solvents, light Bulbs, welding electrodes, vehicles,
agricultural machinery and other equipments of production; - Renting warehouse, storage; - Transportation services. |
|
IMPORT: |
||
|
·
Types of products |
|
Plastic granules and chemical |
|
·
Market |
|
Korea, India, Singapore, Japan, Thailand and Indonesia etc |
|
·
Mode of payment |
|
L/C, T/T |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Plastic packing and granules |
|
·
Market |
|
China, Italy, Indonesia |
|
·
Mode of payment |
|
T/T, L/C |
|
1.
VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK DA NANG BRANCH |
||
|
Address |
|
No. 244 - 248, Nguyen Van Linh Str., Hai Chau District, Da Nang City,
Vietnam |
|
Telephone |
|
(84-511) 3655 118 |
|
Fax |
|
(84-511) 3655 455 |
|
|
||
|
2.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM DA NANG BRANCH |
||
|
Address |
|
No. 140 - 142 Le Loi Str, Hai Chau District, Da
Nang City, Vietnam |
|
Telephone |
|
(84-511) 3822110 |
|
Fax |
|
(84-511) 3826062 |
|
1.
NAME |
|
Mr.
NGUYEN VAN PHUC |
|
Position |
|
Chairman and General Director |
|
Date of Birth |
|
01 Jan 1960 |
|
ID Number/Passport |
|
201110203 |
|
Issued on |
|
05 May 1995 |
|
Issued Place |
|
Da Nang City Department of Police |
|
Resident |
|
No. 21, Nguyen Thai Hoc Str., Hai Chau
District, Da Nang City, Vietnam |
|
Mobile phone |
|
+84 903509535 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
84,791 |
|
|
||
|
2.
NAME |
|
Mr.
LE CONG XINH |
|
Resident |
|
No. 02, Ba Huyen Thanh Quan Str., Ngu Hanh
Son District, Da Nang City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
6,005 |
|
|
||
|
3.
NAME |
|
Ms.
NGUYEN THI HONG HOA |
|
Resident |
|
No. 49/33, Ong Ich Khiem Str., Hai Chau
District, Da Nang City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
10,789 |
|
|
||
|
4.
NAME |
|
Mr.
DOAN ANH MY |
|
Position |
|
Deputy General Director |
|
Resident |
|
No. 74, Thai Phien Str., Hai Chau
District, Da Nang City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
16,837 |
|
|
||
|
5.
NAME |
|
Mr.
DANG QUANG SINH |
|
Resident |
|
No. 71, Thai Phien Str., Hai Chau District,
Da Nang City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
9,379 |
|
|
||
|
6.
NAME |
|
OTHER
SHAREHOLDRES |
|
Number of Shares |
|
57,119 |
|
BALANCE
SHEET |
|||
Unit: Million VND
|
|||
|
Balance sheet
date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
200,838 |
143,243 |
97,933 |
|
I. Cash and cash
equivalents |
22,765 |
12,496 |
1,639 |
|
1. Cash |
22,765 |
12,496 |
1,639 |
|
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 |
90,244 |
90,808 |
52,763 |
|
1. Receivable from customers |
67,421 |
27,075 |
13,925 |
|
2. Prepayments to suppliers |
22,809 |
3,607 |
6,122 |
|
3. Inter-company receivable |
0 |
59,610 |
29,231 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
14 |
516 |
3,485 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
70,648 |
29,179 |
32,937 |
|
1. Inventories |
70,648 |
29,179 |
32,937 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
17,181 |
10,760 |
10,594 |
|
1. Short-term prepaid expenses |
191 |
52 |
8 |
|
2. VAT to be deducted |
15,707 |
10,708 |
10,586 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
1,283 |
0 |
0 |
|
B. LONG-TERM
ASSETS |
36,430 |
26,272 |
20,666 |
|
I. Long term
accounts receivable |
0 |
13,633 |
13,633 |
|
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 |
13,633 |
13,633 |
|
4. Other long-term receivable |
0 |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets
|
21,053 |
11,132 |
5,526 |
|
1. Tangible assets |
3,757 |
2,251 |
1,271 |
|
- Historical costs |
9,329 |
8,256 |
8,131 |
|
- Accumulated depreciation |
-5,572 |
-6,005 |
-6,860 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
17,296 |
8,881 |
2,533 |
|
- Initial costs |
17,341 |
8,926 |
2,578 |
|
- Accumulated amortization |
-45 |
-45 |
-45 |
|
4. Construction-in-progress |
0 |
0 |
1,722 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
15,140 |
1,507 |
1,507 |
|
1. Investments in affiliates |
15,140 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
0 |
1,507 |
1,507 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
237 |
0 |
0 |
|
1. Long-term prepaid expenses |
0 |
0 |
0 |
|
2. Deferred income tax assets |
237 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
|
|
|
1. Goodwill |
0 |
|
|
|
TOTAL ASSETS |
237,268 |
169,515 |
118,599 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
213,474 |
150,513 |
103,072 |
|
I. Current
liabilities |
213,294 |
126,612 |
73,170 |
|
1. Short-term debts and loans |
135,650 |
77,309 |
44,105 |
|
2. Payable to suppliers |
35,411 |
0 |
0 |
|
3. Advances from customers |
14,548 |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
6,491 |
8,665 |
4,854 |
|
5. Payable to employees |
249 |
600 |
0 |
|
6. Accrued expenses |
516 |
876 |
349 |
|
7. Inter-company payable |
0 |
37,235 |
23,474 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
20,429 |
1,927 |
388 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
180 |
23,901 |
29,902 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
180 |
0 |
0 |
|
4. Long-term debts and loans |
0 |
23,901 |
29,902 |
|
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 |
23,794 |
19,002 |
15,527 |
|
I. OWNER’S
EQUITY |
23,794 |
19,001 |
15,526 |
|
1. Capital |
18,492 |
18,492 |
15,016 |
|
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 |
1,175 |
0 |
0 |
|
7. Business promotion fund |
510 |
509 |
510 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
3,617 |
0 |
0 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
1 |
1 |
|
1. Bonus and welfare funds |
0 |
1 |
1 |
|
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 |
237,268 |
169,515 |
118,599 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
833,101 |
1,016,933 |
934,778 |
|
2. Deduction item |
56 |
0 |
79 |
|
3. Net revenue |
833,045 |
1,016,933 |
934,699 |
|
4. Costs of goods sold |
797,993 |
984,089 |
908,962 |
|
5. Gross profit |
35,052 |
32,844 |
25,737 |
|
6. Financial income |
2,191 |
10,360 |
3,970 |
|
7. Financial expenses |
12,719 |
13,318 |
16,258 |
|
- In which: Loan interest expenses |
9,961 |
6,164 |
9,922 |
|
8. Selling expenses |
19,304 |
14,648 |
10,037 |
|
9. Administrative overheads |
5,304 |
8,159 |
3,231 |
|
10. Net operating profit |
-84 |
7,079 |
181 |
|
11. Other income |
5,207 |
9,889 |
1,039 |
|
12. Other expenses |
616 |
7,116 |
55 |
|
13. Other profit /(loss) |
4,591 |
2,773 |
984 |
|
14. Total accounting profit before tax |
4,507 |
9,852 |
1,165 |
|
15. Current corporate income tax |
1,127 |
903 |
46 |
|
16. Deferred corporate income tax |
-237 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
3,617 |
8,949 |
1,119 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
0.94 |
1.13 |
1.34 |
1.92 |
|
Quick liquidity ratio |
0.61 |
0.90 |
0.89 |
1.02 |
|
Inventory circle |
15.99 |
33.73 |
27.49 |
5.97 |
|
Average receive period |
39.54 |
32.59 |
20.60 |
66.39 |
|
Utilizing asset performance |
3.51 |
6.00 |
7.88 |
2.29 |
|
Liability by total assets |
89.97 |
88.79 |
86.91 |
65.45 |
|
Liability by owner's equity |
897.18 |
792.09 |
663.82 |
290.21 |
|
Ebit / Total assets (ROA) |
6.10 |
9.45 |
9.35 |
10.65 |
|
Ebit / Owner's equity (ROE) |
60.81 |
84.29 |
71.40 |
31.58 |
|
Ebit / Total revenue (NPM) |
1.74 |
1.57 |
1.19 |
4.98 |
|
Gross profit / Total revenue (GPM) |
4.21 |
3.23 |
2.75 |
14.19 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our own statistical data |
||||
|
CASH
FLOW STATEMENT |
|||
|
(Indirect method) |
|||
|
Items |
FY2010 |
||
|
I. Cash flows
from operating activities |
|||
|
1. Profit before tax |
4,507 |
|
|
|
2. Adjustments |
|
|
|
|
- Depreciation and amortization |
1,413 |
|
|
|
- Provisions |
0 |
|
|
|
- Unrealized foreign exchange difference |
0 |
|
|
|
- Gain/loss from investing activities |
-2,061 |
|
|
|
- Interest expense |
9,961 |
|
|
|
3. Operating profit before movements in working
capital |
13,820 |
|
|
|
- (Increase)/Decrease in receivables |
-38,084 |
|
|
|
- (Increase)/Decrease in inventories |
-41,469 |
|
|
|
- Increase/(Decrease) in accounts payable |
58,613 |
|
|
|
- (Increase)/Decrease in prepaid expenses |
-139 |
|
|
|
- Interest paid |
-9,445 |
|
|
|
- Corporate income tax paid |
-1,090 |
|
|
|
- Other cash inflows |
0 |
|
|
|
- Other cash outflows |
0 |
|
|
|
Net cash from (used in) operating activities |
-17,794 |
|
|
|
II. Cash flows
from investing activities |
|||
|
1. Acquisition of fixed assets and other long - term assets |
-11,580 |
|
|
|
2. Proceeds from fixed assets and long - term assets disposal |
2,432 |
|
|
|
3. Cash outflow for lending, buying debt instruments of other
companies |
0 |
|
|
|
4. Cash recovered from lending, selling debt instruments of other
companies |
0 |
|
|
|
5. Investment in other entities |
0 |
|
|
|
6. Cash recovered from investments in other entities |
0 |
|
|
|
7. Interest income, dividend and profit paid |
76 |
|
|
|
Net cash from (used in) investing activities |
-9,072 |
|
|
|
III. Cash flows
from financing activities |
|
||
|
1. Proceeds from issuing stocks, receiving capital from owners |
0 |
|
|
|
2. Capital withdrawal, buying back issued stocks |
0 |
|
|
|
3. Proceeds from borrowings |
757,588 |
|
|
|
4. Repayment of borrowings |
-720,452 |
|
|
|
5. Repayment of obligations under finance leased |
0 |
|
|
|
6. Dividends paid |
0 |
|
|
|
Net cash from (used in) financing activities |
37,136 |
|
|
|
Net increase/(decrease) in cash and cash equivalents |
10,270 |
|
|
|
Cash and cash equivalents at beginning of year |
12,497 |
|
|
|
Effect from changing foreign exchange rate |
-2 |
|
|
|
Cash and cash equivalents at end of year |
22,765 |
|
|
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C, T/T |
|
Sale Methods |
|
To contracts |
|
Established in 1976 as a state owned
company, till 2002, subject equitizated and became a joint stock company with
the name DANANG CHEMICAL AND ELECTRICAL MATERIALS JOINT STOCK COMPANY. Now,
it operates under the business code number 0400432621 with registered capital
is VND 18,492,000,000. The head office locates at No.
89 Thai Phien Str., Phuoc Ninh Ward, Hai Chau District, Da Nang City,
Vietnam. Moreover, the subject has got two branches in the same city and one
branch in Hanoi City. It also has a subsidiary company in Thua Thien-Hue Province. The major activities of subject
is trading, importing and exporting polypropylene and polyethylene resin,
chemicals, paints and paint materials… Besides, it also operates in the
fields: renting warehouse and storage; transportation services. Subject imports plastic granules
from a lot of countries in the world such as Korea, India, Singapore, Japan,
Thailand and Indonesia. The products sold in the domestic market and exported
to Italy, China and Indonesia. Base on financial data in recent
years, we see that total assets increase year by year, reflecting that
subject expanded business scale more. However, business result in 2010 was
not very good, both revenue and profit reduced considerably compared with
2009. In addition, current liabilities occupied a large amount (89.89%) in
total assets showed the subject used much external finance for its business
activities. Liquidity ratios also decreased due to increase in inventories. According to Mr. Hien
(Administrative Department), total sales of subject in 2011 reached about VND
1,000 billion. In general, after nearly a
decade equitization, subject has been trying to affirm its position. Its
prospect is expected to develop in the future. At the moment, subject has
ability to meet small-normal transactions. |
|
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) |
||
|
2011 |
2010 |
|||||
|
Agriculture,
Forestry and Fishing |
4.00 |
2.78 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry and
Construction |
5.53 |
7.70 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade and
Services |
6.69 |
7.52 |
154,978 |
14,522 |
4,939,069 |
|
|
|
||||||
|
ECONOMIC
INDICATORS |
||||||
|
|
||||||
|
|
2011 |
2010 |
2009 |
|||
|
Population (Million person) |
87.84 |
86.93 |
86.02 |
|||
|
Gross Domestic Products (USD billion) |
119 |
102.2 |
91 |
|||
|
GDP Growth (%) |
5.89 |
6.78 |
5.32 |
|||
|
GDP Per Capita (USD/person/year) |
1,300 |
1,160 |
1,080 |
|||
|
Inflation (% Change in Composite CPI) |
18.58 |
11.75 |
6.88 |
|||
|
State Budget Deficit compared with GDP (%) |
4.9 |
5.8 |
6.9 |
|||
|
|
||||||
|
SERVICE TRADE
PERFORMANCE |
||||||
|
|
||||||
|
Billion USD |
2011 |
2010 |
2009 |
|||
|
Exports |
96.3 |
72.2 |
57.1 |
|||
|
Imports |
105.8 |
84.8 |
69.9 |
|||
|
Trade Balance |
-9.5 |
-12.6 |
-12.8 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.12 |
|
UK Pound |
1 |
Rs.79.37 |
|
Euro |
1 |
Rs.66.02 |
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.