MIRA INFORM REPORT

 

 

Report Date :

06.11.2012

 

IDENTIFICATION DETAILS

 

Name :

MULTILAB INDUSTRIA E COMERCIO DE PRODUTOS FARMACEUTICOS LTDA

 

 

Registered Office :

 

Rodovia Rs 401 - Km 30 - Nº. 1009 - São Jerônimo 96700-000 - São Jerônimo/RS

 

 

 

 

Country :

Brazil

 

 

 

 

Financials (as on) :

30.09.2012

 

 

 

 

Date of Incorporation :

01.08.1988

 

 

 

 

Legal Form :

Limited Liability Company

 

 

 

 

Line of Business :

Manufacture and Trade of Medicines.

 

 

 

 

No. of Employees :

741

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BRAZIL - ECONOMIC OVERVIEW

 

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% for 2011 as a whole, though forecasts for 2012 growth are somewhat higher. Despite slower growth in 2011, Brazil overtook the United Kingdom as the world's seventh largest economy in terms of GDP. Urban unemployment is at the historic low of 4.7% (December 2011), and Brazil's traditionally high level of income equality has declined for each of the last 12 years. Brazil's high interest rates make it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchanges markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint.

Source : CIA


Company name

 

MULTILAB INDUSTRIA E COMERCIO DE PRODUTOS FARMACEUTICOS LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

RODOVIA RS 401 - KM 30 - Nº. 1009 - SÃO JERÔNIMO

ZIP CODE/CITY:

96700-000 - SÃO JERÔNIMO/RS

 

 

PHONE:

51 3055-9000

FAX:

51 3055-9068

E-MAIL:

marcio.borges@multilab.com.br

WEB SITE:

www.multilab.com.br

 

BRANCHES:

 

 

 

ADDRESS:

RUA MARIANO DE MATOS, 742

ZIP CODE/CITY:

90880-250 PORTO ALEGRE/RS

 

 

ADDRESS:

AVENIDA INSUTRIAL BELGRAF, 250 CENTRO

ZIP CODE/CITY:

92990-000 ELDORADO SUL SUL/RS

PHONE:

51 3230-4043

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE AND TRADE OF MEDICINES.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

01/08/1988

REGISTER DATE:

04/08/1988

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

92.265.552/0001-40

STATE REGISTER:

121/0050568

 

 

SHARE CAPITAL:

R$ 41.570.000,00

 

BOARD OF DIRECTORS:

 

 

 

GILES RICHARD PLATFORD

MANAGER

JUN CELSO EGUTI

MANAGER

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

TAKEDA FARMACÊUTICA BRASIL LTDA

100%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

INDUSTRIA FARMACEUTICA MILIAN LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON AUGUST 01, 1988 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

TRADE NAME: "MULTILAB".

 

PARTNERS:

 

GENESIO CERVO: BRAZILIAN, DIVORCED, HOLDER OF DOCUMENTS RG 100292632 SSP/RS, CPF 140.389.860-04, RESIDENTIAL ADDRESS AT PRAÇA SÃO CAETANO 90 CASA 05, PORTO ALEGRE/RS;

 

REJANE TEREZINHA GOBBI: BRAZILIAN, SINGLE, HOLDER OF DOCUMENTS RG 7032924537 SSP/RS, CPF 503.542.130-91, RESIDENTIAL ADDRESS AT PRAÇA SÃO CAETANO 90 CASA 05, PORTO ALEGRE/RS.

 

REMARKS:

 

ACCORDING TO AMENDMENT TO THE ARTICLES OF INCORPORATION DATED OF JULY 02, 2012 (AND PURCHASE AND SALE OF SHARES CONTRACT DATED OF MAY 25, 2012) THE PARTNERS GENÉSIO CERVO AND TERESINHA GOBBI, WITHDREW FROM THE PARTNERSHIP AND TRANSFERRED THE TOTALITY OF SHARES TO TAKEDA FARMACÊUTICA BRASIL LTDA., WHICH BELONGS TO THE TAKEDA GROUP FROM JAPAN. OUTSIDE SOURCES STATED THAT ACQUISITION AMOUNTED TO R$ 540 MILLIONS. FURTHER, IN 2011 THE TAKEDA GROUP ALSO ACQUIRED NYCOMED FROM SWITZERLAND FOR THE AMOUNT OF 14 BILLION.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

PUBLIC INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 

 


FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 30/09/2012, 31/12/2011 AND 31/12/2010.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

30/09/2012

31/12/2011

31/12/2010

 

 

 

 

CASH AND CASH EQUIVALENTS

15.217.433,75

2.995.301,73

1.486.139,40

CLIENTS

32.013.438,25

36.785.546,71

27.766.170,91

INVENTORY

36.973.351,18

28.480.717,70

32.653.857,81

RECOVERABLE TAXES

14.185.826,29

13.960.052,80

8.760.100,75

ADVANCES

79.341,58

59.425,62

31.294,38

OTHER CREDITS

939.032,88

957.943,54

703.362,14

PRE PAID EXPENSES

767.068,42

409.516,27

1.640.615,02

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

100.175.492,35

83.648.504,37

73.041.540,41

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

JUDICIAL DEPOSITS

2.665.983,48

3.127.069,20

2.945.345,38

DEFERRED TAXES

10.609.045,72

890.985,98

 

PUBLIC DEBTS

 

7.262.460,83

9.549.710,88

INTERCOMPANY CREDITS

346.397,14

1.700.287,34

1.409.490,14

OTHER CREDITS

 

695.826,58

7.590.533,02

 

----------------

----------------

----------------

TOTAL LONG-TERM RECEIVABLES

13.621.426,34

13.676.629,93

21.495.079,42

 

FIXED ASSETS:

 

 

 

 

 

 

 

INVESTMENTS

1.549,29

1.549,29

1.549,29

FIXED ASSETS

61.876.459,18

59.488.525,71

47.870.681,11

INTANGIBLE

31.847.224,94

26.425.567,76

22.206.119,34

 

----------------

----------------

----------------

TOTAL FIXED ASSETS

93.725.233,41

85.915.642,76

70.078.349,74

 

================

================

================

TOTAL ASSETS

207.522.152,10

183.240.777,06

164.614.969,57

 

LIABILITIES:

 

 

 

CURRENT:

30/09/2012

31/12/2011

31/12/2010

 

 

 

 

SUPPLIERS

8.488.418,92

5.785.967,73

5.479.897,43

LOANS AND FINANCING

 

34.264.627,27

33.561.142,56

SOCIAL / LABOR OBLIGATIONS

5.388.257,13

4.830.069,23

8.056.652,10

TAX LIABILITIES

6.304.389,52

6.253.034,55

7.972.745,15

DEBT WITH RELATED PARTIES

 

 

562.332,57

DEFERRED TAXES

547.878,46

701.504,04

906.382,35

ACCOUNTS PAYABLE

 

3.021.018,14

2.694.551,53

OTHER

6.087.320,73

124.256,65

2.272.065,04

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

26.816.264,76

54.980.477,61

61.505.768,73

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

INSTALLMENTS TAXES PAYABLE

17.175.321,20

789.500,35

1.793.556,86

RELATED COMPANIES

95.713.965,71

13.126.095,49

1.743.093,18

LOANS AND FINANCING

 

24.524.705,34

20.726.307,28

JUDICIAL DEPOSITS

2.531.722,71

 

 

PROVISIONS

23.072.421,76

386.363,45

1.526.145,76

DEFERRED TAXES

 

5.779.086,71

4.573.275,61

TAX INCENTIVES

 

12.621.319,61

11.711.609,43

DEFERRED REVENUE

11.607.287,02

8.066.021,39

1.875.470,59

OTHER

42.319,22

 

 

 

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

150.143.037,62

65.293.092,34

43.949.458,71

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

41.570.000,00

41.570.000,00

2.600.000,00

CAPITAL RESERVES

7.162.115,97

6.836.971,95

6.439.757,11

ACCRUED PROFIT (LOSS)

 

11.222.709,90

46.562.802,20

OTHER

 

3.337.525,26

3.557.183,22

OTHER COMPREHENSIVE INCOME

3.172.802,34

 

 

PROFIT RESERVES

1.345.563,00

 

 

PROFIT (LOSS) OF PERIOD

-22.687.631,59

 

 

 

----------------

----------------

----------------

TOTAL NET EQUITY

30.562.849,72

62.967.207,11

59.159.742,53

 

================

================

================

TOTAL LIABILITIES

207.522.152,10

183.240.777,06

164.614.969,97

 

PROFIT AND LOSS ACCOUNTS AS OF 30/09/2012, 31/12/2011 AND 31/12/2010.

( FIGURES ARE IN REAIS ).

 

 

30/09/2012

31/12/2011

31/12/2010

 

 

 

 

GROSS SALES

116.425.960,34

164.068.207,98

146.531.136,25

(-) TAXES ON SALES

16.983.881,90

24.036.044,91

20.961.986,67

 

----------------

----------------

----------------

NET SALES

99.442.078,44

140.032.163,07

125.569.149,58

(-) COST OF SOLD GOODS

56.608.009,00

80.033.737,48

71.997.712,94

 

----------------

----------------

----------------

GROSS PROFIT

42.834.069,44

59.998.425,59

53.571.436,64

OPERATING REVENUE (EXPENSE)

-56.373.237,83

-33.976.305,02

-29.768.528,59

FINANCIAL REVENUE(EXPENSE)

-9.148.463,20

-11.113.408,93

-6.349.293,70

 

----------------

----------------

----------------

OPERATIONAL PROFIT (LOSS)

-22.687.631,59

14.908.711,64

17.453.614,35

CONTRIBUTION/INCOME TAX

 

-1.553.000,12

-3.559.576,24

INTERESTS ON OWN CAPITAL

 

3.175.099,09

2.495.907,44

 

----------------

----------------

----------------

NET PROFIT (LOSS)

-22.687.631,59

16.530.810,61

16.389.945,55

 

RATIOS:

30/09/2012

31/12/2011

31/12/2010

 

QUICK RATIO

2,36

 

1,00

 

,66

 

CURRENT RATIO

3,74

 

1,52

 

1,19

 

ACCOUNTS RECEIVABLE TURNOVER

3,11

TIMES

3,81

TIMES

4,52

TIMES

DAYS' SALES IN RECEIVABLES

86,92

DAYS

94,57

DAYS

79,60

DAYS

INVENTORY TURNOVER

1,53

TIMES

2,81

TIMES

2,20

TIMES

ACCOUNTS PAYABLE PERIOD

40,49

DAYS

26,03

DAYS

27,40

DAYS

RETURN ON ASSETS

,48

TIMES

,76

TIMES

,76

TIMES

SALES TURNOVER ON NET EQUITY

3,25

TIMES

2,22

TIMES

2,12

TIMES

NET WORTH TIE-UP

2,02

 

,94

 

,81

 

INDEBTEDNESS

5,79

 

1,91

 

1,78

 

EQUITY RATIO

14,73

%

34,36

%

35,94

%

WORKING CAPITAL RATIO

273,56

%

52,14

%

18,76

%

GENERAL SOLVENCY

1,17

 

1,52

 

1,56

 

RETURN ON NET EQUITY

-74,23

%

26,25

%

27,70

%

RETURN ON SALES (PROFIT MARGIN)

-22,81

%

11,81

%

13,05

%

GROSS PROFIT MARGIN

43,07

%

42,85

%

42,66

%

OPERATIONAL RESULT

-22,81

%

10,65

%

13,90

%

SALES TURNOVER ON LIABILITIES

3,71

TIMES

2,55

TIMES

2,04

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,03

 - OFFICIAL RATE ON 01/11/2012

US$ 1,00 = R$ 2,03

 - OFFICIAL RATE ON 30/09/2012

US$ 1,00 = R$ 1,87

 - OFFICIAL RATE ON 31/12/2011

US$ 1,00 = R$ 1,66

 - OFFICIAL RATE ON 31/12/2010

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS.

 

THE ANNUAL FIGURES FOR 2011 SHOW A SATISFACTORY FINANCIAL STANDING. THE LEVEL OF INDEBTEDNESS WAS HIGH AND WAS MOSTLY COMPRISED BY LONG TERM LIABILITIES. ON THE OTHER HAND, IT HAD GOOD LIQUIDITY AND POSITIVE WORKING CAPITAL, CONSIDERED SUFFICIENT TO FACE THE SHORT TERM DEBTS. IT ALSO SHOWED GROWING SALES AND PROFITABILITY.

 

THE INTERIM FIGURES FOR SEPTEMBER 2012 SHOW A SIGNIFICANT INCREASE IN THE LEVEL OF INDEBTEDNESS. NEVERTHELESS, THE LIQUIDITY ALSO INCREASED. IT ALSO SHOWS DOWNWARD SALES TREND AND NEGATIVE RESULT DUE TO THE HIGH OPERATING EXPENSES.

 

REMARKS:

 

ACCORDING TO THE COMPANY IT FACED HIGH LOSS IN SEPTEMBER 2012 DUE TO R$ 20 MILLIONS IN PROVISIONS. THEY STATED THAT THEY COMPANY IS CARRYING OUT ADJUSTMENTS AND SUCH PROVISIONS WILL NO LONGER BE USED.

 

REAL ESTATE:

 

   OWNED PREMISES ARE VALUED AT R$ 14.547.933,64

 

VEHICLES:

 

   OWNED VEHICLES ARE VALUED AT R$ 79.452,47

 

MACHINES:

 

   OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 12.527.895,24

 

 

INSURANCE

 

THE COMPANY CONTRACTS INSURANCE OVER ITS OPERATIONAL ASSETS IN AMOUNTS CONSIDERED ADEQUATE BY ITS MANAGEMENT

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO DO BRASIL S/A

3418-5  /  51 3214-7676

 

BANCO BANRISUL S/A

047  /  51 3223-1799

 

BANCO SAFRA S/A

51 2131-3746

 

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

 

ACTIVITIES COMMENTS

 

SUBJECT IS ENGAGED IN THE MANUFACTURE AND TRADE OF MEDICINES.

 

IMPORT AND EXPORT:

 

   IMPORTS FROM:

ITALY, GERMANY, MEXICO, CANADA AND INDIA.

 

   EXPORTS TO:

DOES NOT EXPORT.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

PHONE:

CERVOSUL DISTRIB MEDICAMENTOS LTDA

 

51 3230-4000

DISTRIBUIDORA BRINGEL LTDA

 

92 2126-4000

DIVAMED DISTR IRMÃOS VALOTTO MEDIC

 

14 3405-5500

EMEFARMA RIO REPRESENTAÇÕES LTDA

 

21 2187-8900

GALINDO DIT E REPRES LTDA (PE)

 

81 3343-8999

GAUCH FARMA MEDICAMENTOS LTDA

 

51 3382-2200

GERRAFARMA DISTR E REPRES LTDA

 

86 3221-2359

GLOBO FARMA DISTRIBUIDORA LTDA

 

75 3603-7800

MS FARMA COMERCIAL LTDA

 

75 3224-0228

NORTEFARMA COMÉRCIO LTDA

 

84 3661-2393

PRODIET FARMACEUTICA S/A

 

41 2169-4848

TAPAJOS DISTR DE PROD FARMAC LTDA

 

92 2123-4000

TOTAL COMERCIO E REPRESENTAÇÕES LTDA

 

85 3311-2350

 

STAFF:

 

THE COMPANY HAS: 741 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1988. SO FAR IT HAS A CLEAR TRADE HISTORY AND NO PAYMENT PROBLEMS ARE NOTED.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

AB FARM QUIMICA LTDA

 

62 3316-3420

BRASKAP COMERCIO E INDÚSTRIA S/A

 

15 3225-3355

CASA DA QUIMICA

 

11 4043-2855

COLORCON DO BRASIL LTDA

 

11 4617-8669

COMERCIAL REBESCHINI DE ÁLCOOL

 

51 3336-1809

FARMAPLAST IND EMBALAGENS PLÁSTICAS

 

11 4612-2700

GENIX INDUSTRIA FARMACEUTICA LTDA

 

11 2067-5600

GRAFICA LOTICOMART LTDA

 

51 3041-3434

IPIRANGA QUIMICA DIVISÃO EMCA

 

11 3245-4416

M CASSAB COM IND LTDA

 

11 2162-7609

NILCATEX TEXTIL LTDA.

 

47 3231-2500

NORTIS FRMACÊUTICA LTDA

 

43 3443-2244

TROMBINI INDUSTRIAL S/A

 

51 2129-2300

VALDEQUIMICA PRODUTOS QUIMICOS

 

11 3721-1077

VEDAT TAMPAS

 

51 3217-1177

WHEATON DO BRASIL INDÚSTRIA COMÉRCIO

 

51 3217-1177

 

FOREIGN SUPPLIERS:

COUNTRY:

 

FERSINSA GB

MEXICO

 

LA FIDUCIARIA

ITALY

 

LEE PHARMA

INDIA

 

CONCEPT

 

 

 

PAYMENT HISTORY:

 

16 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 383.292,00

 

AMOUNT OF INVOICES PAID: 101

TOTAL OF PROMPT PAYMENTS: 99,8%

TOTAL OF DELAYED PAYMENTS: 0,2%

 

HIGHEST INVOICE: R$ 26.238,00

HIGHEST CREDIT: R$ 26.238,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 30 DAYS:

 

---------------------------

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

1

1

R$ 624,00

 

 

FINAL OPINION

 

BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH.

 

DESPITE THE LOSS, A CREDIT LIMIT OF US$ 2.000.000,00 MAY BE CONSIDERED.

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.54.08

UK Pound

1

Rs.86.68

Euro

1

Rs.69.36

 

 

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.