|
Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. BASF INDONESIA |
|
|
|
|
|
|
Formerly Known As : |
P.T. BASF INDONESIA MANETIS |
|
|
|
|
|
|
Registered Office : |
Plaza GRI, 10th Floor Jalan H.R. Rasuna Said
Block X-2 No. 1 Jakarta Selatan,
12950 |
|
|
|
|
|
|
Country : |
Indonesia |
|
|
|
|
|
|
Date of Incorporation : |
03.12.1974 |
|
|
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-27650 |
|
|
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
|
|
Line of Business : |
Polymer Dispersion and Chemical Processing |
|
|
|
|
|
|
No. of Employees : |
1,085 persons |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDONESIA - ECONOMIC OVERVIEW
Indonesia, a vast polyglot
nation, grew an estimated 6.1% and 6.4% in 2010 and 2011, respectively. The
government made economic advances under the first administration of President
YUDHOYONO (2004-09), introducing significant reforms in the financial sector,
including tax and customs reforms, the use of Treasury bills, and capital
market development and supervision. During the global financial crisis,
Indonesia outperformed its regional neighbors and joined China and India as the
only G20 members posting growth in 2009. The government has promoted fiscally
conservative policies, resulting in a debt-to-GDP ratio of less than 25%, a
small current account surplus, a fiscal deficit below 2%, and historically low
rates of inflation. Fitch and Moody's upgraded Indonesia's credit rating to
investment grade in December 2011. Indonesia still struggles with poverty and
unemployment, inadequate infrastructure, corruption, a complex regulatory
environment, and unequal resource distribution among regions. The government in
2012 faces the ongoing challenge of improving Indonesia's insufficient
infrastructure to remove impediments to economic growth, labor unrest over
wages, and reducing its fuel subsidy program in the face of rising oil prices.
Source
: CIA
P.T. BASF
INDONESIA
Head Office
Plaza GRI, 10th
Floor
Jalan H.R. Rasuna
Said Block X-2 No. 1
Jakarta Selatan, 12950
Indonesia
Phones -
(62-21) 5262481 (Hunting), 5262505
Fax - (62-21) 5262493, 5262515
Building Area - 18 storey
Office Space - 400 sq. meters
Region - Commercial
Building
Status - Rent
Factories
a. Jalan Daan
Mogot Km. 14
Cengkareng
Jakarta Barat, 11750
Indonesia
Phones - (62-21) 6190007 (7 lines)
Fax -
(62-21) 6190741
Land Area - 111,651 sq. meters
Building Space - 90,000 sq. meters
Region - Industrial
Zone
Status - Owned
b. Jalan Raya
Cibitung Km. 46
Desa
Sukadanau, Cibitung
Bekasi, 17520
West Java
Indonesia
Phones - (62-21) 88328445, 88328434
Fax -
(62-21) 88328423
Land Area - 10,000 sq. meters
Building Space - 7,000 sq. meters
Region - Industrial
Zone
Status - Owned
c. Jalan Jababeka
V Block I No. 1
Cikarang Industrial Estate
Bekasi, 17530
West Java
Indonesia
Phones - (62-21) 8934339 (Hunting)
Fax -
(62-21) 8934342
Land Area - 12,000 sq. meters
Building Space - 8,400 sq. meters
Region - Industrial Estate
Status - Owned
d. Jalan Raya Salira Merak (ex P.T. LATEXIA
INDONESIA)
Desa Mangunrejo, Bojonegara
Merak, 42438
Banten Province
Indonesia
Phones - (62-254) 5750011 (Hunting)
Fax -
(62-254) 5750012
Land Area - 67,000 sq. meters
Building Space - 45,000 sq. meters
Region - Industrial Zone
Status - Owned
Representative
Office
Jalan Raya Bogor
Km. 27.3
Jakarta Timur,
13710
Indonesia
Phones -
(62-21) 87710030 (Hunting)
Fax - (62-21) 8729563
Land Area - 10,000 sq.
meters
Building Space - 7,000 sq. meters
Region - Commercial
Building
Status - Owned
Date of Incorporation :
a. 3 December
1974 as P.T. BASF INDONESIA MANETIS
b. 1984 as P.T.
BASF INDONESIA
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. AHU-12973.AH.01.02.TH.2008
Dated 17
March 2008
- No. AHU-AH.01.10-11946
Dated 14
May 2008
- No. 62275.AH.01.02.TH.2008
Dated 12
September 2008
- No. AHU-AH.01.10-05345
Dated 6
May 2009
- No. AHU-AH.01.10-24660
Dated 30 September 2010
- No. AHU-33683.AH.01.02.TH.2012
Dated 20 June 2012
- No. AHU-AH.01.10-27650
Dated 26 July 2012
Company Status
:
Foreign
Investment (PMA) Company
Permit by the
Government Department :
a. The Department of Finance
NPWP No. 01.000.561.9-092.000
b. The President of the Republic of
Indonesia
- No. B-99/Pres/10/1974
Dated 23 October 1974
- No. B-01/Pres/1/1976
Dated 6 January 1976
c. The Capital Investment Coordinating Board
- No. 273/VI/PMA/1983
Dated 23 March 1983
- No. 25/II/PMA/1985
Dated 2 November 1985
- No. 11/III/PMA/1988
Dated 12 January 1988
- No. 44/III/PMA/1988
Dated 12 February 1988
-
No. 176/III/PMA/1989
Dated 13 May 1989
- No. 100/III/PMA/1991
Dated 14 February 1991
- No. 52/II/PMA/1992
Dated 3 July 1992
- No. 93/II/PMA/1997
Dated 02 June 1997
- No. 283/II/PMA/2001
Dated 06 November 2001
- No. 89/II/PMA/2002
Dated 15 May 2002
- No. 1780/III/PMA/2009
Dated 28 December 2009
d. The Department of Industry
No. 31/M/SK/2/1976
Dated 12 February 1976
Related
Company :
A Member Company
of the BASF Group, Germany
Capital
Structure :
Authorized
Capital : US$
28,517,000.-
Issued Capital : US$
28,517,000.-
Paid up Capital : US$
28,517,000.-
Shareholders/Owners
:
a. BASF SE -
US$ 28,516,900.-
Address
: Carl – Bosch Strasse 38
67057 Ludwigshafen
AM Berlin
Germany
b. Mr. Human Effendi -
US$ 100.-
Address : Puspita Loka Block F.2/18
Bumi Serpong
Damai
Tangerang,
Banten
Indonesia
Lines of
Business :
a. Polymer
Dispersion and Chemical Processing
b. Pesticides
Formulating Industry
c. Chemical
Construction Industry
d. Trading and
Export Import of Chemical
e. Styrene
Butadiene Latex Industry
Production
Capacity :
A. Initial Plant
a. Pigment and Pigment Dispersions - 2,600 tons p.a.
b. Polymer Dispersions (Styrene Butadiene
Latex, Acrylonitrile Butadiene Latex and
Supplementary Products) - 97,000 tons p.a.
c. Demulsifiers -
600 tons p.a.
d. Flocculation Agents - 400 tons p.a.
e. Vitamin Concentrates - 250 tons p.a.
f.
Premixes - 750 tons p.a.
g. Liquide Pesticides - 2,000 kiloliters p.a.
h. Powder Pesticides - 1,000 tons p.a.
i. Brake Fluids - 500 kiloliter p.a.
j. Concrete admixture products - 8,400 tons p.a.
k.Grout products - 3,600 tons p.a.
l. Floor Protection products - 2.800 tons p.a.
m. Concrete repair products - 1,000 tons p.a.
n. Water proofing & others
protection products - 1,600 tons p.a.
B. Factory (ex. P.T. LATEXINDO INDONESIA)
o. Styrene Butadiene Latex - 30,000 tons p.a.
p. Styrene Acrylic Latex - 5,000 tons p.a.
q. Polymer Dispersion - 5,000 tons p.a.
r. Precipitated Calcium - 20,000 tons p.a.
Total
Investment :
A. Initial Plant
a. Equity Capital - US$ 13.1 million
b. Reinvested Profit - US$ 3.8 million
c. Total Investment - US$ 53.1 million
d. Total Investment - US$ 70.0 million
B. Styrene Butadiene (ex. P.T.
LATEXINDO INDONESIA)
a. Equity Capital - US$ 16.4 million
b. Total Investment - None
c. Total Investment - US$ 16.4 million
Started
Operation :
1988
Brand Name :
BASF
Technical
Assistance :
BASF SE of
Germany
Number of
Employee :
1,085 persons
Marketing Area
:
Export - 100%
Main Customers
:
a. Chemical
Industries
b. Paint
Industries
c. Feed Mill
Industries
d. Agricultural
Industries
e. Other
Industries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ARISTEK
HIGHPOLYMER
b. P.T. INKOMAS LESTARI
c. P.T. REHAU INDONESIA
d. P.T. TUNAS
TASIK
e. Etc.
Business Trend
:
Growing
B a n k e r s
:
a.
DEUTSCHE Bank AG
Deutsche Bank Building
Jalan Imam Bonjol 80
Jakarta 10310
Indonesia
b.
CITIBANK N.A.
Landmark Center
Jalan Jend. Sudirman No. 1
Jakarta Pusat
Indonesia
c.
P.T. Bank MANDIRI Tbk
Jalan Jend. Gatot
Subroto Kav. 36-38
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp.
2,120.0 billion
2010 – Rp.
2,212.0 billion
2011 – Rp.
2,289.0 billion
2012 – Rp.
1,160.0 billion (January – June)
Net Profit
(estimated) :
2009 – Rp. 159.0
billion
2010 – Rp. 163.0
billion
2011 – Rp. 175.0
billion
2012 – Rp. 95.0 billion (January – June)
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Henry Choo Kim Hong
Directors -
a. Mr. Drs. Prawira Atmadja
b. Mr. Soehari Liono
c. Mr. Nabil Farid Tamzil
Board of Commissioners :
President Commissioner -
Mr. Dean Trevor Draper
Commissioners -
a. Mr. Gopalan Pillay
b. Ms. Joane Leong Lai Fun
Signatories :
President Director (Mr.
Henry Choo Kim Hong) or one of the Directors (Mr. Drs. Prawira Atmadja, Mr.
Soehari Liono or Mr. Nabil Farid Tamzil) which must be approved by Board of
Commissioner.
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
Initially named
P.T. BASF INDONESIA MANETIS, the company was established in 1974 with an
authorized capital of US$ 2,750,000 entirely was issued and paid up. The
original founding shareholders were BASF AG of Germany and P.T. URECON UTAMA, a
private company of Indonesia. Its notarial act has frequently been revised and
in 1984 it was renamed P.T. BASF INDONESIA (P.T. BI). According to the revision
its authorized capital was in 1984 raised to US$ 13,083,300 wholly issued and
paid up, and the whole shares since were controlled by BASF AG, P.T. URECON
UTAMA, P.T. ASEAM INDONESIA Bank, P.T. Bank FINCONESIA and Mr. Danny Jozal
Salimsyah.
In May 2008, the
whole shares of the company were controlled by BASF SE of Germany and Mr. Human
Effendi, an Indonesian businessman of Chinese extraction. In November 2001,
P.T. DHARMA ARDHA FORMA was merged into P.T. BASF INDONESIA (surviving
company). On the same occasion, P.T. DHARMA ARDHA FORMA had dissolved without
prior to liquidation. Then in May 2008 P.T. BASF CONSTRUCTION CHEMICALS
INDONESIA was merged into P.T. BASF INDONESIA (surviving company) and P.T. BASF
CONSTRUCTION CHEMICALS INDONESIA had also dissolved without prior to
liquidation. Then in May 2009, board management of management and board of
commissioner of the company has been changed. However, the capitalization structure
of the company remained the same. The deed of amendment was made by Mrs.
Misahardi Wilamarta, SH., was approved by the Ministry of Law and Human Right
in its Decision Letter No. AHU-AH.01.10-05345, dated May 06, 2009.
After that based
on notary deed of Mrs. Misahardi Wilamarta, SH., No. 10 dated 21 January 2010,
P.T. LATEXIA INDONESIA was merged into P.T. BASF INDONESIA (surviving company)
and P.T. LATEXIA INDONESIA had dissolved without prior to liquidation. On the
same occasion the authorized capital was increased to US$ 28,517,000 wholly
issued and paid up. With this development the composition of its shareholders
has been changed to become BASF SE of Germany (99.99%) and Mr. Human Effendi
(0.01%). The merged process was approved by the Ministry of Law and Human
Rights in its decision letter No. AHU-08342.AH.01.02.TH.2010 dated 16 February
2010. Then latest based on notary deed of Mrs. Misahardi Wilamarta, SH., No. 2
dated 1 September 2010 the board of directors and the board of commissioners was
reappointed to lead and runs of the company’s operation. The deed of amendments
was approved by the Ministry of Law and Human Rights in its decision letter No.
AHU-AH.01.10-24660 dated September 30, 2010. Then according to the latest
revision of notary documents of Mr. Bagus Nugraha Kusuma Wardhana, SH., M.Kn.,
No. 3 dated 10 July 2012 the board of director and the board of commissioner
had been changed to lead and runs of the company’s operation (see profile). The
latest revision of notary documents was approved by the Ministry of Law and
Human Rights in its decision letter No. AHU-AH.01.10-27650 dated July 26, 2012.
P.T. BASF
INDONESIA (P.T. BI) was incorporated the frame work of Foreign Capital
Investment (PMA) to be engaged in the field manufacturing of audio & video
recording, electronic data processing media, magnetic media, prerecorded tape
& record assembling of audio/video equipments & pigment dispersion. It
plant located at Jalan Daan Mogot Km. 14, Cengkareng, West Jakarta over around 111,651
square meters wide land. The plant has been commercial operating since 1988 and
has been expanded for several times. Prior in 1985, it was expanded for
increasing the production capacity of its polymer dispersions (styrene
butadiene latex, acrylonitrile butadiene latex and supplementary products),
emulsifiers, flocculation agents, vitamin concentrates and premixes. Later in
2002, the plant was expanded again for increasing the production capacity of
its dispersions.
In November
2001, P.T. DHARMA ARDHA FORMA (P.T. DAF) operation as from 1981 in pesticides
formulation industry whose plant is located at Jalan Raya Cibitung Km.46, Desa
Sukadanau, Cibitung, Bekasi (West Java) merged into P.T. BI and its whole
assets and business activities also shifted to P.T. BI. Since May 2008, P.T.
BASF CONSTRUCTION CHEMICALS INDONESIA, a company having been in operation since 1993 dealing with
chemical construction industry by managing a plant located at Jalan Jababeka V
Block I No. 1, Cikarang Industrial Estate on a land of 1.2 hectares, has been
merged into P.T. BI.
P.T. BASF
CONSTRUCTION CHEMICAL INDONESIA produces various types of chemical construction
materials such as epoxy flooring, floor hardeners, grouts, auxiliaries, air
entertainment, specialty, super plasticizers, sealants, repair, composite, and
others under brands of MRACE, POLYHEED, GLENIUM, POZZOLITH, BARRALASTIC,
BARRAFER, BARRA, SONOPLASTIC, MASTERFLEX, RHEOMIX, RHEOMAC, MICROAIR,
RHEOFINISH, MASTERKURE, MASTERTOP, MASTERFLOW and others. Since that time,
whole assets and activities of P.T. BASF CONSTRUCTION CHEMICAL INDONESIA have
been shifted to P.T. BASF INDONESIA.
P.T. BI has
annual production capacity of Pigment and Pigment Dispersions of 2,600 tons, Polymer
Dispersions (Styrene Butadiene Latex, Acrylonitrile Butadiene Latex and
Supplementary Products) of 97,000 tons, Demulsifiers of 600 tons, Flocculation
Agents of 400 tons, Vitamin Concentrates of 250 tons, Premixes of 750 tons,
Liquide Pesticides of 2,000 kiloliters, Powder Pesticides of 1,000 tons,
Concrete admixture products of 8,400 tons, Grout products of 3,600 tons, Floor
Protection products of 2.800 tons, Concrete repair products of 1,000 tons,
Water proofing & others protection products of 1,600 tons respectively per
annum. The construction of the above plants has absorbed an investment of US$
70.0 million.
Later P.T.
LATEXIA INDONESIA was merged into P.T. BASF INDONESIA (P.T. BI) in January
2010, the whole assets and factory was taken over by P.T. BASF INDONESIA with
its plant located at Jalan Salira Merak, Desa Mangunrejo, Bojonegara, Merak,
West Java, on a land of some 6.7 hectares with a production capacity of 30,000
tons styrene butadiene latex, 5,000 tons styrene acrylic latex, 5,000 ton
polymer dispersion and 20,000 ton precipitatet calcium, all per year.
Management of the company said to our inquiry that some 85% of the products
marketed locally and the other 15% is exported to PR. China, Vietnam, Malaysia,
Singapore, etc. P.T. BI is the largest producers of polymer dispersions
controlling 22% of the local market shares. The products marketed to various
industries such as coating and paint industries, textile industries, chemical
processing, agricultural industries, feed milling industries, pulp and paper
industries and others industries. We observe the operation of P.T. BASF
INDONESIA has been growing and developing well in the last three years.
Generally, the
demand for pigment/pigment preparation, polymer, vitamin, and mineral premix
had been rising by 8% to 10% in line with the growth of textile, paper,
leather, chemicals and fertilizer industries, feed milling industry in the same
period. But later it declined as the impact of the global economic crisis and
tight money policy imposed by government in October 2008. Starting in the
second semester 2008, many markets in various parts of the world experienced
adverse economic condition. This condition was triggered by, amongst others,
the housing and mortgage loans crisis in the United States of America (US) that
spread to securities, structures products and commodity markets. The volatility
in the US markets coupled with the sharp appreciation in the US Dollars and a
series of corporate bankruptcies and takeovers enabled the crisis to spread to
other parts of the world. The impact of the global economic crisis has also
been felt in Indonesia as the Indonesian Rupiah weakened, demand decrease,
commodity prices decreased, securities market declines, interest rate
increased, followed by decreases, tightened liquidity conditions, and increased
credit risks. Up to this time, the Company has not significantly suffered from
the economic crisis. In response to these economic events, during 2010 the
Company have plans as follows: Negotiation
with main customer regarding increasing selling price. Cost reduction in
business trip, pantry needs, technical support cost, etc. Reduction
finishing cost and transportation cost with transferring product to customers, Improvement
of internal production, increasing cycle time and increasing machine running
time.
Since mid-of
2009 demand started to improve and predicted to be higher in the coming two
three years. In spite of the adverse economic conditions, management believes
that the Company will be able to continue operating as going concern for the
foreseeable future. Many similar companies operating in the country have
elicited tight competition.
Petrochemical
Products, 2001-2008
|
No. |
Type of Chemical Products |
Capacity Ton/Year |
Production, Ton |
Growth, % / Year |
|||||
|
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
||||
|
1 |
Styrene Acrylonitrile |
Supply |
23,057 |
23,308 |
32,333 |
38,048 |
32,959 |
33,628 |
|
|
|
|
Production |
21,400 |
20,161 |
24,649 |
25,812 |
22,540 |
21,600 |
|
|
|
|
Exports |
4,077 |
1,289 |
3,432 |
5,065 |
3,232 |
4,011 |
|
|
|
|
Imports |
5,734 |
4,436 |
11,116 |
17,301 |
13,651 |
16,039 |
|
|
|
|
Change, % |
|
1.09 |
38.72 |
17.68 |
(13.38) |
2.03 |
9.23 |
|
2 |
Acrylonitrile Butadiene Styrene |
Supply |
16,195 |
16,113 |
28,353 |
35,838 |
44,918 |
43,240 |
|
|
|
|
Production |
11,300 |
12,133 |
14,304 |
15,621 |
13,960 |
14,100 |
|
|
|
|
Exports |
11,681 |
14,555 |
6,836 |
7,898 |
6,190 |
6,425 |
|
|
|
|
Imports |
16,576 |
18,535 |
20,885 |
28,115 |
37,148 |
35,565 |
|
|
|
|
Change, % |
|
(0.51) |
75.96 |
26.40 |
25.34 |
(3.74) |
24.69 |
|
3 |
Styrene-Butadiene Latex |
Supply |
72,656 |
72,370 |
76,190 |
75,730 |
80,728 |
78,372 |
|
|
|
|
Production |
88,200 |
91,600 |
89,400 |
92,900 |
95,400 |
97,340 |
|
|
|
|
Exports |
23,005 |
27,887 |
20,829 |
25,350 |
24,379 |
28,240 |
|
|
|
|
Imports |
7,461 |
8,657 |
7,619 |
8,180 |
9,707 |
9,272 |
|
|
|
|
Change, % |
|
(0.39) |
5.28 |
(0.60) |
6.60 |
(2.92) |
1.59 |
|
4 |
Styrene-Butadiene Rubber |
Supply |
60,854 |
66,546 |
68,136 |
91,053 |
91,520 |
90,694 |
|
|
|
|
Production |
35,043 |
34,766 |
40,051 |
43,560 |
44,540 |
45,100 |
|
|
|
|
Exports |
9,802 |
10,331 |
11,529 |
11,371 |
4,917 |
7,129 |
|
|
|
|
Imports |
35,613 |
42,111 |
39,614 |
58,864 |
51,897 |
52,723 |
|
|
|
|
Change, % |
|
9.35 |
2.39 |
33.63 |
0.51 |
(0.90) |
9.00 |
Source: Department of Industry, Processed
P.T. BI has not been
registered with Indonesian Stock Exchange, so that they shall not obliged to
announce their financial statement. The management of P.T. BI is very reclusive
towards outsiders and rejected to disclose its financial condition. We observed
that total sales turnover of the company in 2009 amounted to Rp. 2,120.0
billion rose to Rp. 2,212.0 billion in 2010 increased to Rp. 2,289.0 billion in
2011. As from January to June 2012 the sales has reached to Rp. 1,160.0 billion
with a net profit of Rp. 95.0 billion and projected to go on rising by at least
5% in 2013. The company has an estimated total networth of at least Rp. 397.0
billion. We observe that P.T. BI is supported by foreign partner of Germany
with has financially strong and sound behind it. So far, we did not heard that
the company having been black listed by the Central Bank (Bank Indonesia). The
company usually pays its debts punctually to suppliers.
The
management of P.T. BI is headed by Mr. Henry Choo Kim Hong (59) a professional
manager with experience in broad experience in polymer dispersions, chemical
processing and pesticide formulating industry and trading. The company's
management is handled by professional managers in the above business. The
management has good reputation in the above industries and has experienced.
They have wide relations with private businessmen within and outside the
country. So far, we did not hear that the management of the company being filed
to the district court for detrimental cases or involved in any business
malpractices. The company’s litigation record is clean and it has not
registered with the black list of Bank of Indonesia. P.T. BASF INDONESIA is
sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.97 |
|
|
1 |
Rs.89.02 |
|
Euro |
1 |
Rs.70.61 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.