MIRA INFORM REPORT

 

 

Report Date :

26.10.2012

 

IDENTIFICATION DETAILS

 

Name :

PRECHEZA A.S.

 

 

Registered Office :

 

Nábř. Dr. E. Beneše 24 751 62 Přerov

 

 

 

 

Country :

Czech Republic

 

 

 

 

Financials (as on) :

31.12.2011

 

 

 

 

Date of Incorporation :

31.12.2005

 

 

 

 

Com. Reg. No.:

B/2953

 

 

 

 

Legal Form :

Public Limited Company

 

 

 

 

Line of Business :

Manufacture of dyes and pigments

 

 

 

 

No. of Employees :

607

 

 

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)

Czech Republic

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CZECH REPUBLIC - ECONOMIC OVERVIEW

 

The Czech Republic is a stable and prosperous market economy, which harmonized its laws and regulations with those of the EU prior to its EU accession in 2004. While the conservative, inward-looking Czech financial system has remained relatively healthy, the small, open, export-driven Czech economy remains sensitive to changes in the economic performance of its main export markets, especially Germany. When Western Europe and Germany fell into recession in late 2008, demand for Czech goods plunged, leading to double digit drops in industrial production and exports. As a result, real GDP fell 4.7% in 2009, with most of the decline occurring during the first quarter. Real GDP, however, has slowly recovered with positive quarter-on-quarter growth starting in the second half of 2009 and continuing throughout 2011. The auto industry remains the largest single industry, and, together with its upstream suppliers, accounts for nearly 24% of Czech manufacturing. The Czech Republic produced more than a million cars for the first time in 2010, over 80% of which were exported. Foreign and domestic businesses alike voice concerns about corruption especially in public procurement. Other long term challenges include dealing with a rapidly aging population, funding an unsustainable pension and health care system, and diversifying away from manufacturing and toward a more high-tech, services-based, knowledge economy.

Source : CIA

Company name and address

 

PRECHEZA a.s.

Nábř. Dr. E. Beneše 24
751 62 Přerov

telephone: 00420/ 581 252 111
telefax: 00420/ 581 217 048
e-mail: precheza@precheza.cz
Web: www.precheza.cz

 

 

Summary

 

 

Company development

Positive business development

(21)

 

Order situation

Good course of business

(21)

Terms of payment

mostly no complaints, but occasional delays / reminders

(31)

 

Business connection

Business connections appear permissible

(31)

 

 

Legal form

Public limited company

 

 

Foundation

31/12/2005 - Public limited company

Comp. Register

31/12/2005, Krajský soud v Ostravě, RegNr.: B/2953
Statistical number: 26872307
Tax number: CZ26872307

 

Share Capital

31/12/2005

CZK

1.000.000.000,-

 

 

10 pcs common bearer shares at nominal value of CZK 100.000.000,-
- in documentary form

 

Main Shareholder

AGROFERT HOLDING, a.s. (Statistical number: 26185610)
Pyšelská 2327/2, 149 00 Praha 4

%

100

 

Board of Directors

Ing. Daniel Kurucz (03.03.1968)
Královická 1931, 250 01 Brandýs nad Labem-Stará Boleslav
chairman

 

 

Ing. Ivo Hanáček (17.09.1963)
Pod Kozincem 1309, 756 61 Rožnov pod Radhoštěm
vice-chairman

 

Ing. Jan Stoklasa (10.05.1971)
Louňovice 240, 251 62 Mukařov

 

 

Ing. Jan Stoklasa (10.05.1971)
Louňovice, Polní 240, 251 62 Mukařov

 

Ing. Jan Stoklasa (10.05.1971)
Polní 240, 251 62 Mukařov, Louňovice

 

 

Ing. Oldřich Konečný, MBA (02.06.1966)
Sušilova 490, 769 01 Holešov
Tel:00420/ 581 252 270

Supervisory Board

Ing. Pavel Valášek (10.03.1977)
Tř. Gen. Janouška 2632/14, 750 02 Přerov

 

 

Ing. Karel Vabroušek (22.08.1969)
Jabloňová 1920, 274 01 Slaný

 

JUDr. Libor Široký (09.10.1953)
Dlouhá 167, 250 66 Zdiby - Brnky

 

General Data

Manufacture of chemical products, of inorganic pigments and
chemicals, or titanic white, of sulphuric acid.

 

Main activity:
Manufacture of dyes and pigments


(20.12)

 

 

Trade name(s)
PRECHEZA a.s.

 

Export:
European Union

85%

 

 

Import:
Norway
Poland
Ukraine

20%

 

General contacts:
telephone:
00420/ 581 252 111
telefax:
00420/ 581 217 048
e-mail:
precheza@precheza.cz
Web:
www.precheza.cz

 

 

Address:
Nábř. Dr. E. Beneše 24, 751 62 Přerov
Beginning of validity: 13.04.2006

 

Nábř. Dr. E. Beneše 24, 750 62 Přerov
Beginning of validity: 31.12.2005
End of validity: 13.04.2006

 

Staff

2007

603 employees

 

2008

593 employees

 

 

2009

565 employees

 

2010

561 employees

 

 

2011

564 employees

 

2012

607 employees

 

 

(+42 employees from the company PRECOLOR)

Annual Sales

2005

actual sales

CZK

1.922.663.000,-

 

 

 

2006

actual sales

CZK

1.862.371.000,-

 

 

2007

actual sales

CZK

1.838.091.000,-

 

 

 

2008

actual sales

CZK

1.758.492.000,-

 

 

2009

actual sales

CZK

2.092.289.000,-

 

 

 

2010

actual sales

CZK

2.173.028.000,-

 

 

2011

actual sales

CZK

2.830.729.000,-

 

 

 

AGROFERT HOLDING, a.s., branch office PRECOLOR has realized, for the year 2011, turnover amounting to CZK 70.701.000.

Property

Property of the company: Business premises
(verified in the real estate registry)
CZ-750 62 Přerov - Město, Nábř. Dr. E. Beneše 1170/24

 

Balance sheets

The enclosed balance of 2011 from business register, it is authenticated by the auditor. (31.12.2011 - 1 CZK)
The enclosed balance of 2010 from business register, it is authenticated by the auditor. (31.12.2010 - 1 CZK)
The enclosed balance of 2009 from business register, it is authenticated by the auditor. (31.12.2009 - 1 CZK)
The enclosed balance of 2008. (31.12.2008 - 1 CZK)

 

The enclosed profit/loss account of 2011 from business register, it is authenticated by the auditor. (31.12.2011 - 1 CZK)
The enclosed profit/loss account of 2010 from business register, it is authenticated by the auditor. (31.12.2010 - 1 CZK)
The enclosed profit/loss account of 2009 from business register, it is authenticated by the auditor. (31.12.2009 - 1 CZK)
The enclosed profit/loss account of 2008. (31.12.2008 - 1 CZK)

 

Auditor

PricewaterhouseCoopers Audit, s.r.o. (Statistical number: 40765521)
Kateřinská 40/466, 120 00 Praha 2

 

 

 

Remarks

The company is a holder of certificates: ISO 9001 - Quality Management
system Certificate, ISO 14001 - environment protection management system
and OHSAS 18001 - security and health protection management system.

 

 

Subsidiary company:
- České technologické centrum pro anorganické pigmenty a.s.,
IČ 26834839, Přerov, share 100%
- KEMIFLOC a.s., Přerov, IČ 47674695, share 49 %
- Precheza Titanium Dioxide Technology Co. Ltd., China, share 100 %

Business management:
Ing. Ivo Hanáček – general director, phone 00420/ 581 252 100
Ing. Karel Šimeček – production director, phone 00420/ 581 252 400
Ing. Marian Bartoš - commercial director, phone. 00420/ 581 252 390
Ing. Oldřich Konečný – economic director, phone. 00420/ 581 252 270, e-mal: oldrich.konecny@precheza.cz
Ing. Josef Winter - technical director, phone. 004240/ 581 252 700

The company is a part of the group Agrofert. The sole shareholder company
AGROFERT HOLDING, a.s. has the share capital of CZK 628.000.000,-,
Turnover for the year 2010 having reached CZK 13.762.733.000,- and the consolidated revenues amounted to CZK 92.139.875.000,-. The sole shareholder is ing. Andrej Babiš.

PRECHEZA a.s. is the greatest inland manufacturer of inorganic and ferrous pigments.

The exclusive sales subject for products of the company PRECHEZA a.s. is the company
AGROFERT HOLDING a.s., branch office PRECOLOR, IČ 26185610.

The company has taken its origin by division of the company PRECHEZA a.s., IČ 14617064.
To the company, a part of the divided company PRECHEZA a.s.,
IČ 14617064 has been transferred, namely at the extent stated in the Project of division.
The rest part of property of the divided company has been transferred to the successor company CECHEM - Správa kapitálových účastí, a.s., IČ 26872331
(in 2006, it was dissolved and mergered with the company AGROFERT HOLDING, a.s.)

The company has stored at the Companies Register Agreement on sale of a part of enterprise, where AGROFERT HOLDING, a.s. is the sales party and PRECHEZA a.s. is the purchaser. Subject to sale is the part of the company belonging to the sale subject and bearing the marking AGROFERT HOLDING, a.s., branch office PRECOLOR, which has occupied itself with sale of products of the company PRECHEZA a.s. This agreement has come into effect on January 1, 2012.

Principal data from the final account for the year 2011 relating to the branch office PRECOLOR (in CZK):
Total assets: 1.1.79.160
Long-term property: 32.853
Long-term intangible assets: 188
Long-term tangible assets: 32.664
Current assets: 1.145.822
Provisions: 6.979
Long-term receivables: 87
Short-term receivables: Short-term financial assets: 129.669
Time accruals: 485
Total liabilities: 1.179.160
Equity capital: 316.002
Capital funds: 106.334
Profit funds: 53.746
Profit/Loss of the past years: 148.989
Profit/Loss of the current accounting period: 6.932
Third party sources 863.158
Short-term obligations: 863.158
Turnover: 70.701
Revenues from sale of goods: 24.655
Costs expended for sold goods: 19.682
Business margin: 4.972
Revenues from sale of proper products and services: 46.046
Output consumption: 15.544
Value added: 35.474
Staff costs: 258.048
Taxes and fees: 257
Depreciation of long-term tangible and intangible assets: 2.566
Revenues from sale of long-term property and material: 136
Other production revenues: 464
Other production costs: 280
Profit/Loss of production: 7.922
Interest revenues: 606
Other financial revenues: 9.781
Other financial costs: 11.376
Financial profit/Loss: -989
Profit/Loss for current activity: 6.932

Further contact:
Mrs.. Tománková – chief accountant, phone: 004240/ 581 252 272

Bankers

Komerční banka, a.s.

Citibank Europe plc, organizační složka

(0100)

(2600)

 

 

balance

31.12.2008 (CZK)

31.12.2009 (CZK)

31.12.2010 (CZK)

31.12.2011 (CZK)

r1

TOTAL ASSETS

2.098.123.000

2.059.469.000

1.966.263.000

2.524.075.000

r2

Receivables for subscriptions

 

0

0

0

r3

Fixed assets

1.020.414.000

906.563.000

858.567.000

1.109.037.000

r4

Intangible fixed assets

4.841.000

2.312.000

883.000

6.852.000

r7

Software

4.841.000

2.312.000

696.000

391.000

r8

Valuable rights

0

 

 

5.724.000

r11

Intangible fixed assets under construction

0

 

187.000

737.000

r13

Tangible fixed assets

983.772.000

872.450.000

825.883.000

790.083.000

r14

Lands

31.445.000

32.964.000

32.993.000

33.957.000

r15

Constructions

439.728.000

420.215.000

391.920.000

356.262.000

r16

Equipment

614.055.000

597.184.000

503.128.000

474.938.000

r17

Perennial corps

0

 

 

 

r19

Other tangible fixed assets

39.000

39.000

39.000

39.000

r20

Tangible fixed assets under construction

130.552.000

30.125.000

77.324.000

89.357.000

r21

Advance payments for tangible fixed assets

 

2.875.000

10.336.000

4.292.000

r22

Adjustment to acquired assets

-232.047.000

-210.952.000

-189.857.000

-168.762.000

r23

Long-term financial assets

31.801.000

31.801.000

31.801.000

312.102.000

r24

Shares in controlled and managed organizations

15.000.000

15.000.000

15.000.000

78.000.000

r25

Shares in accounting units with substantial influence

16.801.000

16.801.000

16.801.000

16.801.000

r27

Loans to controlled and managed organizations and to accounting unit with substantial influence

 

 

 

217.301.000

r31

Current assets

1.051.757.000

1.125.414.000

1.072.924.000

1.382.904.000

r32

Inventory

483.720.000

358.947.000

386.067.000

563.343.000

r33

Materials

193.259.000

110.255.000

174.287.000

200.063.000

r34

Work in progress and semi-products

43.710.000

39.717.000

54.153.000

61.883.000

r35

Finished products

246.751.000

208.975.000

143.732.000

201.231.000

r38

Advance payments for inventory

0

 

13.895.000

100.166.000

r39

Long-term receivables

29.750.000

29.344.000

53.145.000

33.500.000

r46

Other receivables

0

 

 

 

r47

Deferred tax receivable

29.750.000

29.344.000

53.145.000

33.500.000

r48

Short-term receivables

520.916.000

541.233.000

412.987.000

749.945.000

r49

Trade receivables

458.918.000

372.825.000

359.081.000

722.647.000

r50

Receivables from controlled and managed organizations

5.000.000

 

 

5.163.000

r54

Due from state - tax receivable

3.072.000

6.432.000

4.107.000

11.568.000

r55

Short-term deposits given

6.156.000

14.331.000

5.788.000

5.955.000

r56

Estimated receivable

4.426.000

1.022.000

3.599.000

305.000

r57

Other receivables

43.344.000

146.623.000

40.412.000

4.307.000

r58

Short-term financial assets

17.371.000

195.890.000

220.725.000

36.116.000

r59

Cash

133.000

103.000

174.000

110.000

r60

Bank accounts

17.238.000

195.787.000

220.551.000

36.006.000

r63

Accruals

25.952.000

27.492.000

34.772.000

32.134.000

r64

Deferred expenses

25.952.000

27.492.000

34.772.000

32.134.000

r67

TOTAL LIABILITIES

2.098.123.000

2.059.469.000

1.966.263.000

2.524.075.000

r68

Equity

1.527.276.000

1.718.288.000

1.658.051.000

2.053.812.000

r69

Registered capital

1.000.000.000

1.000.000.000

1.000.000.000

1.000.000.000

r70

Registered capital

1.000.000.000

1.000.000.000

1.000.000.000

1.000.000.000

r73

Capital funds

-132.060.000

-106.376.000

-15.165.000

-32.646.000

r75

Other capital funds

181.000

202.000

202.000

642.000

r76

Differences from revaluation of assets and liabilities ( +/- )

-132.241.000

-106.578.000

-15.367.000

-33.288.000

r78

Reserve funds, statutory reserve account for cooperatives, and other retained earnings

220.349.000

218.565.000

219.065.000

219.566.000

r79

Legal reserve fund / indivisible fund

216.265.000

216.265.000

216.265.000

216.265.000

r80

Statutory and other funds

4.084.000

2.300.000

2.800.000

3.301.000

r81

Profit / loss - previous years

581.097.000

439.877.000

102.558.000

150.582.000

r82

Retained earnings from previous years

581.097.000

439.877.000

102.558.000

150.582.000

r84

Profit / loss - current year (+/-)

-142.110.000

166.222.000

351.593.000

716.310.000

r85

Liabilities

570.847.000

341.181.000

308.062.000

470.263.000

r86

Reserves

31.475.000

33.811.000

39.373.000

132.717.000

r89

Income tax reserves

 

 

 

94.247.000

r90

Other reserves

31.475.000

33.811.000

39.373.000

38.470.000

r91

Long-term payables

 

0

0

0

r102

Short-term payables

440.228.000

307.370.000

268.689.000

337.546.000

r103

Trade payables

244.605.000

134.779.000

189.898.000

242.947.000

r107

Payroll

10.045.000

9.693.000

9.736.000

13.526.000

r108

Payables to social securities and health insurance

6.341.000

5.895.000

5.799.000

8.390.000

r109

Due from state - tax liabilities and subsidies

1.472.000

1.332.000

2.116.000

2.433.000

r110

Short-term deposits received

71.000

59.000

57.000

46.000

r112

Estimated payables

8.464.000

14.961.000

15.399.000

15.843.000

r113

Other payables

169.230.000

140.651.000

45.684.000

54.361.000

r114

Bank loans and financial accommodations

99.144.000

0

0

0

r115

Long-term bank loans

0

0

0

0

r116

Short-term bank loans

99.144.000

0

0

0

r117

Short-term accommodations

0

0

0

0

r118

Accruals

 

0

150.000

0

r120

Deferred revenues

 

 

150.000

 

 

 

profit/loss account

31.12.2008 (CZK)

31.12.2009 (CZK)

31.12.2010 (CZK)

31.12.2011 (CZK)

a1

Turnover

1.758.492.000

2.092.289.000

2.173.028.000

2.830.729.000

a2

Revenues from sold goods

 

0

0

0

a3

Expenses on sold goods

 

0

0

0

a4

Sale margin

 

0

0

0

a5

Production

1.808.811.000

2.044.827.000

2.127.602.000

2.901.225.000

a6

Revenues from own products and services

1.758.492.000

2.092.289.000

2.173.028.000

2.830.729.000

a7

Change in inventory of own products

39.522.000

-55.817.000

-52.295.000

65.434.000

a8

Capitalization

10.797.000

8.355.000

6.869.000

5.062.000

a9

Production consumption

1.473.009.000

1.490.939.000

1.487.503.000

1.738.004.000

a10

Consumption of material and energy

1.245.709.000

1.120.367.000

1.109.568.000

1.321.435.000

a11

Services

227.300.000

370.572.000

377.935.000

416.569.000

a12

Added value

335.802.000

553.888.000

640.099.000

1.163.221.000

a13

Personnel expenses

215.407.000

216.162.000

219.495.000

244.453.000

a14

Wages and salaries

157.869.000

160.944.000

162.280.000

181.295.000

a15

Renumeration of board members

863.000

215.000

216.000

214.000

a16

Social security expenses and health insurance

54.129.000

52.536.000

54.614.000

60.545.000

a17

Other social expenses

2.546.000

2.467.000

2.385.000

2.399.000

a18

Taxes and fees

6.736.000

6.096.000

8.989.000

6.408.000

a19

Depreciations of intangible and tangible assets

184.860.000

174.167.000

160.798.000

155.806.000

a20

Revenues from disposals of fixed assets and materials

6.402.000

4.707.000

15.057.000

15.991.000

a21

Revenues from disposals of fixed assets

665.000

813.000

3.295.000

9.827.000

a22

Revenues from disposals of materials

5.737.000

3.894.000

11.762.000

6.164.000

a23

Net book value of disposed fixed assets and materials

4.581.000

2.808.000

10.763.000

6.586.000

a24

Net book value of sold fixed assets

387.000

109.000

466.000

1.388.000

a25

Net book value of sold material

4.194.000

2.699.000

10.297.000

5.198.000

a26

Change in operating reserves and adjustments and complex deferred costs ( + / - )

34.461.000

-7.187.000

10.733.000

4.170.000

a27

Other operating revenues

21.439.000

21.926.000

29.531.000

29.859.000

a28

Other operating expenses

8.742.000

11.335.000

13.558.000

39.067.000

a31

Operating profit / loss

-91.144.000

177.140.000

260.351.000

752.581.000

a34

Revenues from long-term financial assets

34.815.000

34.815.000

47.619.000

38.416.000

a35

Revenues from shares in controlled and managed organizations and in accounting units with substantial influence

34.815.000

34.815.000

47.619.000

38.416.000

a40

Revenues from revaluation of securities and derivatives

25.374.000

21.714.000

13.507.000

7.883.000

a41

Cost of revaluation of securities and derivatives

17.250.000

31.802.000

8.117.000

 

a42

Change in financial reserves and adjustments ( + / - )

91.576.000

 

 

35.150.000

a43

Interest revenues

307.000

1.616.000

3.383.000

4.921.000

a44

Interest expenses

5.600.000

2.304.000

0

69.000

a45

Other financial revenues

12.596.000

104.045.000

93.849.000

139.876.000

a46

Other financial expenses

14.394.000

135.299.000

90.481.000

71.849.000

a49

Profit / loss from financial operations ( transactions )

-55.728.000

-7.215.000

59.760.000

84.028.000

a50

Income tax on ordinary income

-4.762.000

3.703.000

-31.482.000

120.299.000

a51

Due tax

-247.000

 

515.000

94.377.000

a52

Tax deferred

-4.515.000

3.703.000

-31.997.000

25.922.000

a53

Operating profit / loss ordinary activity

-142.110.000

166.222.000

351.593.000

716.310.000

a59

Operating profit / loss extraordinary activity

 

0

0

0

a61

Profit / loss of current accounting period (+/-)

-142.110.000

166.222.000

351.593.000

716.310.000

a62

Profit / loss before tax (+/-)

-146.872.000

169.925.000

320.111.000

836.609.000

 

Operating cash flow

158.216.000

462.248.000

486.665.000

499.191.000

 

Investment cash flow

-199.530.000

-182.801.000

41.211.000

-380.732.000

 

Financial cash flow

-20.551.000

-100.928.000

503.041.000

-303.068.000

 

Receivables after due date total

38.117.000

7.559.000

11.274.000

6.336.000

 

Liabilities after due date total

13.000

12.000

73.000

60.000

Balance indices

 

31.12.2008

31.12.2009

31.12.2010

31.12.2011

Return on total assets ROA (in %)

a62/r1 * 100

-7,00

8,25

16,28

33,15

Return on equity ROE (in %)

a62/r68 * 100

-9,62

9,89

19,31

40,73

Return on sales ROS (in %)

a62/a1 * 100

-8,35

8,12

14,73

29,55

Turnover of receivables (in days)

r49/a1 * 365

95,25

65,04

60,31

93,18

Turnover of liabilities (in days)

r103/a1 * 365

50,77

23,51

31,90

31,33

Turnover of inventories (days)

r32/a1 * 365

100,40

62,62

64,85

72,64

Net working capital (in ths. CZK)

r31 - r102 - r116 - r117

512.385,00

818.044,00

804.235,00

1.045.358,00

Ratio of accounts payable to accounts receivable (in %)

(r39+r48) / (r91+r102) * 100

n/a

185,63

173,48

232,10

Ratio of profit/loss to tangible assets (in%)

r3 / a1 * 100

58,03

43,33

39,51

39,18

Current ratio

r31 / (r102+r116+r117)

1,95

3,66

3,99

4,10

Quick ratio

(r58+r48) / (r102+r116+r117)

1,00

2,40

2,36

2,33

Cash ratio

r58 / (r102+r116+r117)

0,03

0,64

0,82

0,11

Debt ratio I (in %)

(1-r68/r67) * 100

27,21

16,57

15,68

18,63

Debt ratio II (in %)

r85/r67 * 100

27,21

16,57

15,67

18,63

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.63

UK Pound

1

Rs.86.17

Euro

1

Rs.69.74

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.