|
Report Date : |
26.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
CENTURY SYNTHETIC FIBER
CORPORATION |
|
|
|
|
Registered Office : |
Block B1-1 Tay Bac (North-West) Cu Chi
Industrial Zone - Cu Chi District - |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Date of Incorporation : |
2000 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Subject Specializes in Producing
all Kinds of Synthetic Fibers |
|
|
|
|
No. of Employees : |
629 |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Viet Nam |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Current
legal status
|
||
|
English Name |
|
CENTURY SYNTHETIC FIBER
CORPORATION |
|
Vietnamese Name |
|
CONG TY CO PHAN SOI THE KY |
|
Trade name |
|
CENTURY SYNTHETIC FIBER CORPORATION |
|
Short name |
|
CENTURY CORP |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2000 |
|
Business Registration No. |
|
0302018927 |
|
Date of Registration |
|
13 Jan 2010 |
|
Date of 8th Adjustment |
|
19 Oct 2011 |
|
Place of Registration |
|
Business Registration Office -
Planning and Investment Department of Ho Chi Minh City |
|
Current registered capital |
|
VND 229,888,340,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0302018927 |
|
Total Employees |
|
629 |
Historical Identification &
Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former
registered capital: VND 201,000,000,0000 Changed to: VND
229,888,340,000 |
19 Oct 2011 |
|
2 |
Subject has got former
Business Registration No: 4103003288 which was issued on 11 Apr 2005 Changed to: 0302018927 |
13 Jan 2010 |
|
3 |
Subject has got former
Business Registration No: 4102001242 which was issued on 01 Jun 2000 Changed to: 4103003288 |
11 Apr 2005 |
|
4 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH SAN XUAT THUONG MAI THE KY Changed to: CONG TY CO PHAN
SOI THE KY |
11 Apr 2005 |
ADDRESSES
|
||
|
Head
Office |
||
|
Address |
|
Block B1-1 Tay
Bac (North-West) Cu Chi Industrial Zone - Cu Chi District - Ho
Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3790 7565 |
|
Fax |
|
(84-8) 3790 7566 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Branch
in Tay Ninh |
||
|
Address |
|
Road No. 8 – Trang Bang Industrial
Zone – Trang Bang District – Tay Ninh Province - Vietnam |
|
|
||
DIRECTORS
|
||
|
|
||
|
1. NAME |
|
Mr. DANG TRIEU HOA |
|
Position |
|
Chairman and General Director |
|
Date of Birth |
|
19 Oct 1969 |
|
ID Number/Passport |
|
023323686
|
|
ID Issue Date |
|
25 Dec
2006 |
|
ID Issue Place |
|
Police
Station of Ho Chi Minh City |
|
Resident |
|
No. A30
Bau Cat Residential Quarter - Ward 14 - Tan Binh District - Ho Chi Minh City
- Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
2. NAME |
|
Mr. HUANG WEI LING |
|
Position |
|
Vice General Director |
|
Nationality |
|
Taiwanese |
|
|
||
|
3. NAME |
|
Ms. TRAN THI TRANG LIEN |
|
Position |
|
HR Director |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
4. NAME |
|
Mr. PHAN NHU BICH |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
|
||
|
5. NAME |
|
Ms. NGUYEN THI NGOC BINH |
|
Position |
|
Director of Manufacturing |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
|
The subject specializes in producing all kinds of synthetic fibers |
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT:
|
||
|
·
Types of products |
|
Machines |
|
·
Market |
|
Germany, Taiwan, South Korea, Hong Kong, China |
|
|
||
|
EXPORT:
|
||
|
·
Market |
|
Turkey, France, Switzerland, Japan, Taiwan, South Korea,
Thailand, Malaysia, Pakistan, Indonesia |
BANKERS
|
||
|
1. VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
8th Floor, VinCom Center, No. 72 Le Thanh Ton
Str - District 1 - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3821 0055 |
|
Fax |
|
(84-8) 3829 6063 |
|
|
||
|
2. DONGA COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No.130 Phan Dang Luu Str - Ward 3 - Phu Nhuan District -
Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3995 1483 |
|
Fax |
|
(84-8) 3995 1614 |
|
|
||
|
3. HSBC BANK (VIETNAM) LTD |
||
|
Address |
|
6th Floor, The Metropolitan Building – No. 235 Dong Khoi Str - District 1 - Ho Chi Minh City - Vietnam |
|
Telephone |
|
(84 8) 3829 2288 |
|
Fax |
|
(84 8) 3299 0018 |
|
|
||
|
4. ANZ BANK HOCHIMINH CITY BRANCH |
||
|
Address |
|
No. 11 Me Linh Square - Ben Nghe Ward – District 1 - Ho
Chi Minh City - Vietnam |
|
Telephone |
|
(84-8) 3829 9319 |
|
Fax |
|
(84-8) 3829 9316 |
SHAREHOLDERS
|
||
|
|
||
|
1. NAME |
|
Mr. DANG TRIEU HOA |
|
Position |
|
Chairman and General Director |
|
Date of Birth |
|
19 Oct 1969 |
|
ID Number/Passport |
|
023323686 |
|
Issued on |
|
25 Dec 2006 |
|
Issued Place |
|
Police Station of Ho Chi Minh
City |
|
Resident |
|
No. A30
Bau Cat Residential Quarter - Ward 14
- Tan Binh District - Ho Chi Minh City -
Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
3,285,000 |
|
Value of shares |
|
VND 32,850,000,000 |
|
Percentage |
|
14.29% |
|
|
||
|
2. NAME |
|
Ms. DANG MY LINH |
|
ID Number/Passport |
|
023323687 |
|
Resident |
|
No.65/39 Phu Tho Str - Ward 1
- District 11 - Ho Chi Minh City -
Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
1,288,250 |
|
Value of shares |
|
VND 12,882,500,000 |
|
Percentage |
|
5.604% |
|
|
||
|
3. NAME |
|
Mr. DANG HUONG CUONG |
|
ID Number/Passport |
|
023323688 |
|
Resident |
|
No.65/39 Phu Tho Str - Ward 1
- District 11 - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
1,288,250 |
|
Value of shares |
|
VND 12,882,500,000 |
|
Percentage |
|
5.604% |
FINANCIAL DATA
|
|||
|
|
|||
|
BALANCE SHEET |
|||
Unit: One VND
|
|||
|
Balance
sheet date |
30/06/2011
|
31/12/2010
|
31/12/2009
|
|
Number of weeks |
26 |
52 |
52 |
ASSETS
|
|||
|
A –
CURRENT ASSETS |
331,582,990,085
|
221,756,881,708
|
157,200,000,000
|
|
I.
Cash and cash equivalents |
137,910,492,079
|
36,060,781,013
|
75,452,000,000
|
|
1. Cash |
16,146,812,079 |
13,235,581,013 |
10,452,000,000 |
|
2. Cash equivalents |
121,763,680,000 |
22,825,200,000 |
65,000,000,000 |
|
II.
Short-term investments |
0 |
0 |
0 |
|
1. Short-term investments |
|
|
0 |
|
2. Provisions for devaluation of short-term investments |
|
|
0 |
|
III.
Accounts receivable |
62,562,782,020
|
93,940,142,294
|
36,204,000,000
|
|
1. Receivable from customers |
55,477,687,079 |
32,884,181,106 |
26,743,000,000 |
|
2. Prepayments to suppliers |
4,782,169,414 |
4,759,593,881 |
8,579,000,000 |
|
3. Inter-company receivable |
0 |
|
0 |
|
4. Receivable according to the progress of construction |
|
|
0 |
|
5. Other receivable |
2,302,925,527 |
56,296,367,307 |
882,000,000 |
|
6. Provisions for bad debts |
|
|
0 |
|
IV.
Inventories |
92,156,973,315
|
73,482,231,437
|
27,493,000,000
|
|
1. Inventories |
92,156,973,315 |
73,482,231,437 |
27,493,000,000 |
|
2. Provisions for devaluation of inventories |
|
|
0 |
|
V.
Other Current Assets |
38,952,742,671
|
18,273,726,964
|
18,051,000,000
|
|
1. Short-term prepaid expenses |
2,121,393,648 |
1,111,675,595 |
325,000,000 |
|
2. VAT to be deducted |
32,196,367,065 |
15,903,014,095 |
13,231,000,000 |
|
3. Taxes and other accounts receivable from the State |
3,942,318 |
|
0 |
|
4. Other current assets |
4,631,039,640 |
1,259,037,274 |
4,495,000,000 |
|
B.
LONG-TERM ASSETS |
552,621,484,953
|
434,273,072,930
|
272,651,000,000
|
|
I.
Long term accounts receivable |
0 |
0 |
0 |
|
1. Long term account receivable from customers |
|
|
0 |
|
2. Working capital in affiliates |
|
|
0 |
|
3. Long-term inter-company receivable |
|
|
0 |
|
4. Other long-term receivable |
|
|
0 |
|
5. Provisions for bad debts from customers |
|
|
0 |
|
II.
Fixed assets |
507,251,284,641
|
422,391,433,873
|
248,265,000,000
|
|
1. Tangible assets |
282,853,225,306 |
190,134,658,947 |
216,884,000,000 |
|
- Historical costs |
407,122,569,393 |
293,914,098,914 |
216,884,000,000 |
|
- Accumulated depreciation |
-124,269,344,087 |
-103,779,439,967 |
0 |
|
2. Financial leasehold assets |
118,277,058,972 |
|
0 |
|
- Historical costs |
122,355,578,248 |
|
0 |
|
- Accumulated depreciation |
-4,078,519,276 |
|
0 |
|
3. Intangible assets |
0 |
29,375,238,198 |
30,423,000,000 |
|
- Initial costs |
113,300,000 |
30,502,330,000 |
30,423,000,000 |
|
- Accumulated amortization |
-113,300,000 |
-1,127,091,802 |
0 |
|
4. Construction-in-progress |
106,121,000,363 |
202,881,536,728 |
958,000,000 |
|
III.
Investment property |
|
|
0 |
|
Historical costs |
|
|
0 |
|
Accumulated depreciation |
|
|
0 |
|
IV.
Long-term investments |
1,000,000,000
|
0 |
11,411,000,000
|
|
1. Investments in affiliates |
1,000,000,000 |
|
0 |
|
2. Investments in business concerns and joint ventures |
|
|
0 |
|
3. Other long-term investments |
|
|
11,411,000,000 |
|
4. Provisions for devaluation of long-term investments |
|
|
0 |
|
V.
Other long-term assets |
44,370,200,312
|
11,881,639,057
|
12,975,000,000
|
|
1. Long-term prepaid expenses |
39,007,332,672 |
6,518,771,417 |
8,008,000,000 |
|
2. Deferred income tax assets |
5,362,867,640 |
5,362,867,640 |
0 |
|
3. Other long-term assets |
|
|
4,967,000,000 |
|
VI.
Goodwill |
|
|
|
|
1. Goodwill |
|
|
|
|
TOTAL
ASSETS |
884,204,475,038
|
656,029,954,638
|
429,851,000,000
|
|
|
|||
LIABILITIES
|
|||
|
A-
LIABILITIES |
512,418,433,462
|
326,879,606,691
|
260,343,000,000
|
|
I. Current
liabilities |
287,947,556,980
|
153,340,957,379
|
186,512,000,000
|
|
1. Short-term debts and loans |
106,270,966,450 |
29,641,836,000 |
50,184,000,000 |
|
2. Payable to suppliers |
141,191,460,461 |
104,595,623,309 |
50,641,000,000 |
|
3. Advances from customers |
10,211,332,905 |
3,560,909,060 |
973,000,000 |
|
4. Taxes and other obligations to the State Budget |
15,255,566,166 |
4,694,367,822 |
5,541,000,000 |
|
5. Payable to employees |
2,927,629,395 |
1,850,203,535 |
832,000,000 |
|
6. Accrued expenses |
9,497,723,051 |
7,750,988,457 |
2,079,000,000 |
|
7. Inter-company payable |
|
|
0 |
|
8. Payable according to the progress of construction
contracts |
|
|
0 |
|
9. Other payable |
2,592,878,552 |
1,247,029,196 |
76,262,000,000 |
|
10. Provisions for short-term accounts payable |
|
|
0 |
|
II.
Long-Term Liabilities |
224,470,876,482
|
173,538,649,312
|
73,831,000,000
|
|
1. Long-term accounts payable to suppliers |
224,237,169,807 |
173,281,822,356 |
0 |
|
2. Long-term inter-company payable |
|
|
0 |
|
3. Other long-term payable |
|
|
0 |
|
4. Long-term debts and loans |
|
|
73,831,000,000 |
|
5. Deferred income tax payable |
|
|
0 |
|
6. Provisions for unemployment allowances |
233,706,675 |
256,826,956 |
0 |
|
7. Provisions for long-term accounts payable |
|
|
0 |
|
B-
OWNER’S EQUITY |
371,786,041,576
|
329,150,347,947
|
169,508,000,000
|
|
I.
OWNER’S EQUITY |
371,786,041,576
|
329,150,347,947
|
169,321,000,000
|
|
1. Capital |
229,888,340,000 |
201,000,000,000 |
140,000,000,000 |
|
2. Share premiums |
40,145,500,800 |
40,557,750,800 |
13,913,000,000 |
|
3. Other sources of capital |
-11,650,560,000 |
|
0 |
|
4. Treasury stocks |
|
|
0 |
|
5. Differences on asset revaluation |
11,995,362,983 |
|
0 |
|
6. Foreign exchange differences |
|
|
0 |
|
7. Business promotion fund |
|
|
0 |
|
8. Financial reserved fund |
|
1,219,011,000 |
1,219,000,000 |
|
9. Other funds |
1,219,011,000 |
|
0 |
|
10. Retained earnings |
100,188,386,793 |
86,373,586,147 |
14,189,000,000 |
|
11. Construction investment fund |
|
|
0 |
|
II.
Other sources and funds |
|
|
187,000,000
|
|
1. Bonus and welfare funds |
|
|
187,000,000 |
|
2. Sources of expenditure |
|
|
0 |
|
3. Fund to form fixed assets |
|
|
0 |
|
MINORITY’S
INTEREST |
|
|
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
884,204,475,038
|
656,029,954,638
|
429,851,000,000
|
|
|
|||
|
PROFIT & LOSS STATEMENT |
|||
|
|
|||
|
Description |
First Half/ FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
444,689,516,366
|
505,959,194,077
|
372,576,000,000
|
|
2. Deduction item |
|
|
0 |
|
3. Net revenue |
444,689,516,366
|
505,959,194,077
|
372,576,000,000
|
|
4. Costs of goods sold |
347,970,900,266 |
387,698,528,690 |
297,875,000,000 |
|
5. Gross profit |
96,718,616,100
|
118,260,665,387
|
74,701,000,000
|
|
6. Financial income |
18,041,898,212 |
17,339,657,203 |
1,532,000,000 |
|
7. Financial expenses |
35,460,151,984 |
21,158,462,332 |
29,070,000,000 |
|
- In which: Loan interest expenses |
10,260,638,103 |
7,043,015,410 |
8,617,000,000 |
|
8. Selling expenses |
7,687,698,024 |
8,666,584,943 |
2,774,000,000 |
|
9. Administrative overheads |
15,107,295,204 |
22,200,529,946 |
9,576,000,000 |
|
10. Net operating profit |
56,505,369,100
|
83,574,745,369
|
34,813,000,000
|
|
11. Other income |
301,872,452 |
46,591,300 |
481,000,000 |
|
12. Other expenses |
10,962,421 |
497,026,127 |
16,000,000 |
|
13. Other profit /(loss) |
290,910,031
|
-450,434,827
|
465,000,000
|
|
14. Total accounting profit before tax |
56,796,279,131
|
83,124,310,542
|
35,278,000,000
|
|
15. Current corporate income tax |
9,392,452,477 |
4,779,543,727 |
3,686,000,000 |
|
16. Deferred corporate income tax |
|
|
-570,000,000 |
|
17. Interest from subsidiaries/related companies |
|
|
|
|
18. Profit after tax |
47,403,826,654
|
78,344,766,815
|
31,022,000,000
|
|
|
|||
|
FINANCIAL
RATIOS AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2010
|
FY2009
|
Average
Industry |
|
Current liquidity ratio |
1.45 |
0.84 |
1.18 |
|
Quick liquidity ratio |
0.97 |
0.70 |
0.72 |
|
Inventory circle |
5.28 |
10.83 |
9.18 |
|
Average receive period |
67.77 |
35.47 |
64.20 |
|
Utilizing asset performance |
0.77 |
0.87 |
1.50 |
|
Liability by total assets |
49.83 |
60.57 |
69.79 |
|
Liability by owner's equity |
99.31 |
153.59 |
238.92 |
|
Ebit / Total assets (ROA) |
13.74 |
10.21 |
6.08 |
|
Ebit / Owner's equity (ROE) |
27.39 |
25.90 |
21.50 |
|
Ebit / Total revenue (NPM) |
17.82 |
11.78 |
4.89 |
|
Gross profit / Total revenue (GPM) |
23.37 |
20.05 |
12.63 |
|
Note: The Average Industry was calculated by VietnamCredit based
on our own statistical data |
|||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Even |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
Through its corresponding bank. Foreign remittance by L/C,
T/T. |
|
Sale Methods |
|
To contracts |
INTERPRETATION ON THE SCORES
|
|
The subject was formerly a liability
limited company which was found on June 2000. Since 2005, the subject has
officially changed to joint stock company. Currently, the subject is
operating under Business Registration No. 0302018927, issued by Business Registration Office - Planning and Investment
Department of Ho Chi Minh City with
registered capital VND 229,888,340,000. Its head office is located at “Block B1-1 North-West Cu Chi Industrial Zone - Cu Chi District -
Ho Chi Minh City – Vietnam”. Total workforce is about 629 employees. The subject is specializing in
producing synthetic fibers. Its main products are Drawn Texture Yarn (DTY) & Polyester
Textured Yarn (PTY). It is supplying all kinds of fibers with high quality
for knitted, metal machines to produce fabric, shoes accessories by orders of
the multinational corporation such as Nike, Adidas, Columbia, Ikea, Reebok,
Guess, and Decathlon… Main customers of the subject are TCG, Thai Tuan Corp,
Formosa Taffeta Vietnam Company, Paiho Group, Tiong Liong Corp, HuGe Bamboo
Company; Promax Textile Company…The subject continues expanding product distribution network and sales agents throughout the country. Its import markets are in Germany,
Taiwan, South Korea, Hong Kong, China….
The subject exports its products to Turkey, France, Switzerland,
Japan, Taiwan, South Korea, Thailand, Malaysia, Pakistan, Indonesia… In 2011, the subject achieved Certificate
of Merit from Vietnam Prime Minister for its achievement in attracting
investment, developing export processing and contributing to HCMC’s
socio-economic development. Its chairman (Mr. Dang Trieu Hoa) achieved many awards and certificates. In
2007, he was achieved award for his outstanding performance in business by
Ministry of Industry and Trade. In 2008, he was voted “Typical entrepreneur
2008” by Vietnam Trademark Magazine – The Vietnam Union of Science &
Technology Associations. According to financial statement of
the subject, financial situation was stable. Its profit of the first half of
2011 increased in comparison with same period of 2010. In 2010, liquidity was
high with current liquidity ratio 1.45. Its turnover and profit are relatively
high and increase year after year. The subject is running well. It has financial capacity to meet all
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) |
||
|
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.50.90 |
|
|
1 |
Rs.80.77 |
|
Euro |
1 |
Rs.67.40 |
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.