MIRA INFORM REPORT

 

 

Report Date :

03.11.2012

 

IDENTIFICATION DETAILS

 

Name :

BASHAN TARIMSAL URUNLERI PAZARLAMA SANAYI VE DIS TICARET A.S.

 

 

 

 

Formerly Known As :

MEMISLER INSAAT VE DIS TICARET A.S.

 

 

Registered Office :

 

Emek Mah. Mersin Adana Karayolu Uzeri Ataturk Bulvari No:18 Karacailyas Mersin

 

 

 

 

Country :

Turkey

 

 

 

 

Financials (as on) :

31.12.2011

 

 

 

 

Date of Incorporation :

10.11.1988

 

 

 

 

Legal Form :

Joint Stock Company

 

 

 

 

Line of Business :

Processing, packaging and trade of pulse, grain, rough rice and other food products. 

 

 

 

 

No. of Employees :

300

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Turkey

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

TURKEY - ECONOMIC OVERVIEW

 

Turkey's largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment. An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkey's export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market. Several gas pipelines projects also are moving forward to help transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkey's dependence on imported oil and gas to meet 97% of its energy needs. After Turkey experienced a severe financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the country's economic fundamentals and ushered in an era of strong growth - averaging more than 6% annually until 2008. Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkey's well-regulated financial markets and banking system helped the country weather the global financial crisis and GDP rebounded strongly to 8.2% in 2010, as exports returned to normal levels following the recession. Turkey's public sector debt to GDP ratio has fallen to roughly 40%. Continued strong growth has pushed inflation to the 8% level, however, and worsened an already high current account deficit. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit. The stock value of FDI stood at $99 billion at year-end 2011. Inflows have slowed considerably in light of continuing economic turmoil in Europe, the source of much of Turkey's FDI. Further economic and judicial reforms and prospective EU membership are expected to boost Turkey's attractiveness to foreign investors. However, Turkey's relatively high current account deficit, uncertainty related to monetary policy-making, and political turmoil within Turkey's neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence.

Source : CIA

COMPANY IDENTIFICATION

 

 

NAME

:

BASHAN TARIMSAL URUNLERI PAZARLAMA SANAYI VE DIS TICARET A.S.

HEAD OFFICE ADDRESS

:

Emek Mah. Mersin Adana Karayolu Uzeri Ataturk Bulvari No:18 Karacailyas Mersin / Turkey

PHONE NUMBER

:

90-324-221 41 41

 

FAX NUMBER

:

90-324-221 41 42

 

WEB-ADDRESS

:

www.bashan.com.tr

 

 

LEGAL STATUS AND HISTORY

 

 

TAX OFFICE

:

Uray

TAX NO

:

6140054775

REGISTRATION NUMBER

:

27827

REGISTERED OFFICE

:

Mersin Chamber of Commerce and Industry

DATE ESTABLISHED

:

10.11.1988

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   30.000.000

 

HISTORY

:

Previous Name

:

Memisler Insaat ve Dis Ticaret A.S.

Changed On

:

02.06.2005 (Commercial Gazette Date /Number 09.06.2005/ 6321)

Previous Registered Capital

:

TL 5.000.000

Changed On

:

03.06.2009 (Commercial Gazette Date /Number 10.06.2009/ 7329)

Previous Registered Capital

:

TL 6.500.000

Changed On

:

18.11.2009 (Commercial Gazette Date /Number 25.11.2009/ 7446)

Previous Registered Capital

:

TL 10.000.000

Changed On

:

16.06.2010 (Commercial Gazette Date /Number 23.06.2010/ 7591)

Previous Registered Capital

:

TL 15.000.000

Changed On

:

14.06.2011 (Commercial Gazette Date /Number 23.06.2011/ 7843)

Previous Registered Capital

:

TL 20.000.000

Changed On

:

31.05.2012 (Commercial Gazette Date /Number 08.06.2012/ 8086)

Previous Address

:

Evren Mah. Milli Egemenlik Cad. No:1 Karacailyas – Mersin

Changed On

:

22.01.2007 (Commercial Gazette Date /Number 01.02.2007/ 6736)

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Husamettin Memis

20 %

Atilla Memis

20 %

Bedrettin Memis

20 %

Necmettin Memis

20 %

Semsettin Memis

20 %

 

 

SISTER COMPANIES

:

KIVAM ENDUSTRIYEL MADDELERI GIDA TARIM AMBALAJ MAKINA PAZARLAMA SANAYI VE TICARET LTD. STI.

 

SUBSIDIARIES

:

None

 

BOARD OF DIRECTORS

:

Husamettin Memis

Chairman

Semsettin Memis

Vice-Chairman

Bedrettin Memis

Member

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Processing, packaging and trade of pulse, grain, rough rice and other food products. 

 

NACE CODE

:

G .51.21

 

TRADEMARKS OWNED

:

Bashan

Prizma

 

NUMBER OF EMPLOYEES

:

300

 

NET SALES

:

31.567.905 TL

(2007) 

65.295.754 TL

(2008) 

109.773.931 TL

(2009) 

121.168.767 TL

(2010) 

183.106.862 TL

(2011) 

96.680.125 TL

(01.01-30.06.2012) 

 

 

IMPORT VALUE

:

21.167.472 TL

(2008)

7.613.473 TL

(01.01-30.06.2009)

 

 

IMPORT COUNTRIES

:

China

Kyrgyzstan

Uzbekistan

Egypt

Italy

India

 

MERCHANDISE IMPORTED

:

Bean

Lentil

Pea

Rice

 

EXPORT VALUE

:

19.363 TL

(2005)

741.260 TL

(2006)

5.081.615 TL

(2007)

15.676.776 TL

(2008)

22.380.501 TL

(2009)

34.001.902 TL

(2010)

82.550.368 TL

(2011)

34.862.320 TL

(01.01-30.06.2012)

 

 

 

EXPORT COUNTRIES

:

Italy

Netherlands

Sweden

Germany

Northern Cyprus Turkish Republic

Free Zone

France

Iraq

 

MERCHANDISE  EXPORTED

:

Canned tomatoes

Olives

Rice

Wheat

 

HEAD OFFICE ADDRESS

:

Emek Mah. Mersin Adana Karayolu Uzeri Ataturk Bulvari No:18 Karacailyas  Mersin / Turkey ( owned )

 

BRANCHES

:

Processing Plant  :  Gonen Yolu 1 Km Balikesir/Turkey

 

Head Office/Processing Plant  :  Emek Mah. Mersin Adana Karayolu Uzeri Ataturk Bulvari No:18 Karacailyas Mersin/Turkey (owned)

 

Branch Office  :  Serbest Bolge Mersin/Turkey

 

Branch Office  :  Erzurun Yolu 3.Km. Mus/Turkey (owned)

 

Branch Office  :  Battalgazi Sark Cad.Aytop Gidacilar Sitesi H Blk.N.12/30 Sultanbeyli Istanbul/Turkey (rented)

                                                                                

INVESTMENTS

:

Investments are going on.

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2011. There appears an upwards trend in  1.1 - 30.6.2012.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Alternatifbank Merkez Branch

Garanti Bankasi Merkez Branch

Halk Bankasi Merkez Branch

Turk Ekonomi Bankasi Merkez Branch

Yapi ve Kredi Bankasi Merkez Branch

 

CREDIT FACILITIES

:

The subject company is making active use of credit facilities.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge in the last years.

 

 

KEY FINANCIAL ELEMENTS

:

 

(2008) TL

(2009) TL

(2010) TL

(2011) TL

(01.01-30.06.2012) TL

Net Sales

65.295.754

109.773.931

121.168.767

183.106.862

96.680.125

Profit (Loss) Before Tax

608.561

925.111

1.747.464

2.611.240

703.316

Stockholders' Equity

9.806.825

11.577.928

19.784.436

49.473.781

 

Total Assets

30.498.792

37.740.322

68.532.842

128.879.212

 

Current Assets

23.590.659

27.965.623

55.433.053

107.542.858

 

Non-Current Assets

6.908.133

9.774.699

13.099.789

21.336.354

 

Current Liabilities

19.658.005

20.156.468

48.089.030

78.448.595

 

Long-Term Liabilities

1.033.962

6.005.926

659.376

956.836

 

Gross Profit (loss)

4.128.456

6.157.100

9.800.259

17.440.653

6.827.045

Operating Profit (loss)

1.429.601

2.110.691

3.665.426

10.666.117

3.490.693

Net Profit (loss)

481.537

710.790

1.381.333

2.059.711

703.316

 

 

 

COMMENT ON FINANCIAL POSITION

 

THE DETAILS OF THE CAPITAL INCREASE  AFTER LAST BALANCE SHEET

 

:

Cash Part

:7.368.025,93 TL

Equity Part

:2.631.974,07 TL

Payment Due Date

:31.12.2013

Number of Days To Pay First Portion of The Cash Part of Capital Increase

:90

 

 

Capitalization

Satisfactory

 

Remarks on Capitalization

There has been capital increase after the last balance sheet date. The capital increase is expected to have a slight positive effect on equity total since the last balance sheet date.

 

Liquidity

Insufficient

 

Remarks On Liquidity

The capital increase after the last balance sheet is expected to have a positive effect on liquidity since the last balance sheet date. 

 

The unfavorable gap between average collection and average payable period has an adverse effect on liquidity. 

 

The liquid assets consist mainly of receivables the amount of cash&banks or marketable securities (which are more liquid) are low.

 

Profitability

Fair Operating Profitability  in 2008

Low Net Profitability  in 2008

Fair Operating Profitability  in 2009

Low Net Profitability  in 2009

Fair Operating Profitability  in 2010

Low Net Profitability  in 2010

Good Operating Profitability  in 2011

Low Net Profitability  in 2011

In Order Operating Profitability (01.01-30.06.2012)

Low Net Profitability (01.01-30.06.2012)

 

Gap between average collection and payable periods

Unfavorable in 2011

General Financial Position

Passable

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2005 )

2,66 %

1,3499

1,6882

2,4623

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 2007 )

5,94 %

1,3075

1,7901

2,6133

 ( 2008 )

8,11 %

1,2858

1,8876

2,3708

 ( 01.01-30.06.2009)

3,27 %

1,5955

2,1421

2,3861

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-30.06.2012)

1,95 %

1,8028

2,3463

2,8462

 ( 01.01-30.09.2012)

3,34 %

1,8029

2,3233

2,8527

 

 

BALANCE SHEETS

 

 

 ( 31.12.2008 )  TL

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

CURRENT ASSETS

23.590.659

0,77

27.965.623

0,74

55.433.053

0,81

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

Cash and Banks

3.124.449

0,10

3.899.978

0,10

353.413

0,01

Marketable Securities

0

0,00

0

0,00

0

0,00

Account Receivable

14.377.309

0,47

12.788.284

0,34

27.659.282

0,40

Other Receivable

3.861

0,00

3.861

0,00

1.806

0,00

Inventories

5.757.518

0,19

10.578.521

0,28

24.635.181

0,36

Advances Given

0

0,00

58.812

0,00

2.043.228

0,03

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

Other Current Assets

327.522

0,01

636.167

0,02

740.143

0,01

NON-CURRENT ASSETS

6.908.133

0,23

9.774.699

0,26

13.099.789

0,19

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

Long-term Receivable

0

0,00

0

0,00

0

0,00

Financial Assets

0

0,00

0

0,00

0

0,00

Tangible Fixed Assets (net)

6.579.882

0,22

9.433.373

0,25

12.895.564

0,19

Intangible Assets

307.423

0,01

305.985

0,01

187.762

0,00

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

20.828

0,00

35.341

0,00

16.463

0,00

TOTAL ASSETS

30.498.792

1,00

37.740.322

1,00

68.532.842

1,00

CURRENT LIABILITIES

19.658.005

0,64

20.156.468

0,53

48.089.030

0,70

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

Financial Loans

5.869.204

0,19

9.877.802

0,26

28.564.107

0,42

Accounts Payable

13.668.551

0,45

10.023.469

0,27

17.681.918

0,26

Loans from Shareholders

0

0,00

0

0,00

0

0,00

Other Short-term Payable

0

0,00

116.722

0,00

126.079

0,00

Advances from Customers

0

0,00

46.781

0,00

1.564.784

0,02

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

Taxes Payable

87.824

0,00

51.460

0,00

74.031

0,00

Provisions

32.426

0,00

40.234

0,00

78.111

0,00

Other Current Liabilities

0

0,00

0

0,00

0

0,00

LONG-TERM LIABILITIES

1.033.962

0,03

6.005.926

0,16

659.376

0,01

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

Financial Loans

1.033.962

0,03

6.005.926

0,16

659.376

0,01

Securities Issued

0

0,00

0

0,00

0

0,00

Long-term Payable

0

0,00

0

0,00

0

0,00

Loans from Shareholders

0

0,00

0

0,00

0

0,00

Other Long-term Liabilities

0

0,00

0

0,00

0

0,00

Provisions

0

0,00

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

9.806.825

0,32

11.577.928

0,31

19.784.436

0,29

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

Paid-in Capital

4.982.227

0,16

6.500.000

0,17

13.325.147

0,19

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

Inflation Adjustment of Capital

0

0,00

0

0,00

0

0,00

Equity of Consolidated Firms

0

0,00

0

0,00

0

0,00

Reserves

24.576

0,00

48.653

0,00

759.471

0,01

Revaluation Fund

4.318.485

0,14

4.318.485

0,11

4.318.485

0,06

Accumulated Losses(-)

0

0,00

0

0,00

0

0,00

Net Profit (loss)

481.537

0,02

710.790

0,02

1.381.333

0,02

TOTAL LIABILITIES AND EQUITY

30.498.792

1,00

37.740.322

1,00

68.532.842

1,00

 

 

 

 

 ( 31.12.2011 )  TL

 

CURRENT ASSETS

107.542.858

0,83

Not Detailed Current Assets

0

0,00

Cash and Banks

861.698

0,01

Marketable Securities

0

0,00

Account Receivable

42.600.535

0,33

Other Receivable

6.628

0,00

Inventories

62.619.809

0,49

Advances Given

378.638

0,00

Accumulated Construction Expense

0

0,00

Other Current Assets

1.075.550

0,01

NON-CURRENT ASSETS

21.336.354

0,17

Not Detailed Non-Current Assets

0

0,00

Long-term Receivable

0

0,00

Financial Assets

0

0,00

Tangible Fixed Assets (net)

21.008.532

0,16

Intangible Assets

264.808

0,00

Deferred Tax Assets

63.014

0,00

Other Non-Current Assets

0

0,00

TOTAL ASSETS

128.879.212

1,00

CURRENT LIABILITIES

78.448.595

0,61

Not Detailed Current Liabilities

0

0,00

Financial Loans

58.338.422

0,45

Accounts Payable

18.826.727

0,15

Loans from Shareholders

0

0,00

Other Short-term Payable

127.029

0,00

Advances from Customers

580.987

0,00

Accumulated Construction Income

0

0,00

Taxes Payable

414.830

0,00

Provisions

160.600

0,00

Other Current Liabilities

0

0,00

LONG-TERM LIABILITIES

956.836

0,01

Not Detailed Long-term Liabilities

0

0,00

Financial Loans

956.836

0,01

Securities Issued

0

0,00

Long-term Payable

0

0,00

Loans from Shareholders

0

0,00

Other Long-term Liabilities

0

0,00

Provisions

0

0,00

STOCKHOLDERS' EQUITY

49.473.781

0,38

Not Detailed Stockholders' Equity

49.473.781

0,38

Paid-in Capital

0

0,00

Cross Shareholding Adjustment of Capital

0

0,00

Inflation Adjustment of Capital

0

0,00

Equity of Consolidated Firms

0

0,00

Reserves

0

0,00

Revaluation Fund

0

0,00

Accumulated Losses(-)

0

0,00

Net Profit (loss)

0

0,00

TOTAL LIABILITIES AND EQUITY

128.879.212

1,00

 

 

REMARKS ON FINANCIAL STATEMENT

:

At the financial statements according to TAS, "Cheques Received" and "Outstanding Cheques" figures are under "Cash And Banks" figure. Beginning from the financial statements of 31.12.2011, "Cheques Received" and "Outstanding Cheques" figures are given under "Account Receivable" figure and "Account Payable" figure respectively. 

 

 

 

INCOME STATEMENTS

 

 

(2008) TL

 

(2009) TL

 

(2010) TL

 

Net Sales

65.295.754

1,00

109.773.931

1,00

121.168.767

1,00

Cost of Goods Sold

61.167.298

0,94

103.616.831

0,94

111.368.508

0,92

Gross Profit

4.128.456

0,06

6.157.100

0,06

9.800.259

0,08

Operating Expenses

2.698.855

0,04

4.046.409

0,04

6.134.833

0,05

Operating Profit

1.429.601

0,02

2.110.691

0,02

3.665.426

0,03

Other Income

631.715

0,01

1.111.391

0,01

858.422

0,01

Other Expenses

504.077

0,01

1.078.366

0,01

1.115.043

0,01

Financial Expenses

948.678

0,01

1.218.605

0,01

1.661.341

0,01

Minority Interests

0

0,00

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

0

0,00

Profit (loss) Before Tax

608.561

0,01

925.111

0,01

1.747.464

0,01

Tax Payable

127.024

0,00

214.321

0,00

366.131

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

Net Profit (loss)

481.537

0,01

710.790

0,01

1.381.333

0,01

 

 

 

(2011) TL

 

(01.01-30.06.2012) TL

 

Net Sales

183.106.862

1,00

96.680.125

1,00

Cost of Goods Sold

165.666.209

0,90

89.853.080

0,93

Gross Profit

17.440.653

0,10

6.827.045

0,07

Operating Expenses

6.774.536

0,04

3.336.352

0,03

Operating Profit

10.666.117

0,06

3.490.693

0,04

Other Income

2.731.554

0,01

2.670.447

0,03

Other Expenses

7.864.439

0,04

2.875.030

0,03

Financial Expenses

2.921.992

0,02

2.582.794

0,03

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

2.611.240

0,01

703.316

0,01

Tax Payable

551.529

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

2.059.711

0,01

703.316

0,01

 

 

FINANCIAL RATIOS

 

 

(2008)

(2009)

(2010)

(2011)

LIQUIDITY RATIOS

 

 

Current Ratio

1,20

1,39

1,15

1,37

Acid-Test Ratio

0,89

0,83

0,58

0,55

Cash Ratio

0,16

0,19

0,01

0,01

ASSET STRUCTURE RATIOS

 

 

Inventory/Total Assets

0,19

0,28

0,36

0,49

Short-term Receivable/Total Assets

0,47

0,34

0,40

0,33

Tangible Assets/Total Assets

0,22

0,25

0,19

0,16

TURNOVER RATIOS

 

 

Inventory Turnover

10,62

9,80

4,52

2,65

Stockholders' Equity Turnover

6,66

9,48

6,12

3,70

Asset Turnover

2,14

2,91

1,77

1,42

FINANCIAL STRUCTURE

 

 

Stockholders' Equity/Total Assets

0,32

0,31

0,29

0,38

Current Liabilities/Total Assets

0,64

0,53

0,70

0,61

Financial Leverage

0,68

0,69

0,71

0,62

Gearing Percentage

2,11

2,26

2,46

1,61

PROFITABILITY RATIOS

 

 

Net Profit/Stockholders' Eq.

0,05

0,06

0,07

0,04

Operating Profit Margin

0,02

0,02

0,03

0,06

Net Profit Margin

0,01

0,01

0,01

0,01

Interest Cover

1,64

1,76

2,05

1,89

COLLECTION-PAYMENT

 

 

Average Collection Period (days)

79,27

41,94

82,18

83,76

Average Payable Period (days)

80,45

34,82

57,16

40,91

WORKING CAPITAL

3932654,00

7809155,00

7344023,00

29094263,00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.66

UK Pound

1

Rs.86.37

Euro

1

Rs.69.24

 

 

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

--

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%)

 

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.