MIRA
INFORM REPORT
|
Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
BRANCH OF CENTRAL PHARMACEUTICAL COMPANY NO.2
|
|
|
|
|
Registered Office : |
No.60B, Nguyen Huy Tuong, Thanh Xuan Trung Ward, Thanh Xuan District,
Ha Noi City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.07.1994 |
|
|
|
|
Com. Reg. No.: |
0300483319-008 |
|
|
|
|
Legal Form : |
Branch |
|
|
|
|
Line of Business : |
Trading materials for pharmaceutical
industry |
|
|
|
|
No. of Employees : |
70 employees |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Vietnam |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
vietnam - ECONOMIC OVERVIEW
Vietnam is a densely-populated developing country that in the last 30
years has had to recover from the ravages of war, the loss of financial support
from the old Soviet Bloc, and the rigidities of a centrally-planned economy.
While Vietnam's economy remains dominated by state-owned enterprises, which
still produce about 40% of GDP, Vietnamese authorities have reaffirmed their
commitment to economic liberalization and international integration. They have
moved to implement the structural reforms needed to modernize the economy and
to produce more competitive export-driven industries. Vietnam joined the World
Trade Organization in January 2007 following more than a decade-long
negotiation process. Vietnam became an official negotiating partner in the
developing Trans-Pacific Partnership trade agreement in 2010. Agriculture's
share of economic output has continued to shrink from about 25% in 2000 to
about 22% in 2011, while industry's share increased from 36% to 40% in the same
period. Deep poverty has declined significantly, and Vietnam is working to
create jobs to meet the challenge of a labor force that is growing by more than
one million people every year. The global recession has hurt Vietnam's
export-oriented economy, with GDP in 2009-11 growing less than the 7% per annum
average achieved during the last decade. In 2011, exports increased by more
than 33%, year-on-year, and the trade deficit, while reduced from 2010,
remained high, prompting the government to maintain administrative trade
measures to limit the trade deficit. Vietnam's managed currency, the dong,
continues to face downward pressure due to a persistent trade imbalance. Since
2008, the government devalued it in excess of 20% through a series of small
devaluations. Foreign donors pledged nearly $8 billion in new development
assistance for 2011. However, the government's strong growth-oriented economic
policies have caused it to struggle to control one of the region's highest
inflation rates, which reached as high as 23% in August 2011 and averaged 18%
for the year. In February 2011, Vietnam shifted its focus away from economic
growth to stabilizing its economy and tightened fiscal and monetary policies.
In early 2012 Vietnam unveiled a broad "three pillar" economic reform
program, proposing the restructuring of public investment, state-owned
enterprises and the banking sector. Vietnam's economy continues to face
challenges from low foreign exchange reserves, an undercapitalized banking
sector, and high borrowing costs. The near-bankruptcy and subsequent default of
the state-owned-enterprise Vinashin, a leading shipbuilder, led to a ratings
downgrade of Vietnam's sovereign debt, exacerbating Vietnam's borrowing
difficulties.
|
Source : CIA |
SUBJECT IDENTIFICATION &
LEGAL FORM
Current legal status
|
||
|
English name |
|
BRANCH OF CENTRAL PHARMACEUTICAL COMPANY
NO.2 |
|
Registered Vietnamese Name |
|
CHI NHANH CONG TY TNHH MOT THANH VIEN DUOC
PHAM TRUNG UONG 2 HA NOI |
|
Trade Name |
|
CODUPHA HANOI |
|
Type of Business |
|
Branch |
|
Year Established |
|
1994 |
|
Establishment Decision |
|
441/DPTW 2 –TC |
|
Date of Issuance |
|
01 Jul 1994 |
|
Place of Issuance |
|
Union of Vietnam Pharmaceutical
Enterprises |
|
Business Registration No. |
|
0300483319-008 |
|
Date of Registration |
|
01 Sep 2010 |
|
Place of Registration |
|
Planning and Investment Department of Ha
Noi City |
|
Chartered capital |
|
N/A |
|
Status |
|
Unlisted |
|
Tax code |
|
0300483319-008 |
|
Total Employees |
|
70 |
|
Note: The subject’s English name is not
registered on the legal document. The above one is translated by VietnamCredit. |
||
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 0116000756 Changed to: 0300483319-008 |
01
Sep 2010 |
|
2 |
Subject has got former Registered
Vietnamese Name: CHI NHANH CONG TY DUOC PHAM TRUNG UONG 2 Changed to: CHI NHANH CONG TY TNHH MOT
THANH VIEN DUOC PHAM TRUNG UONG 2 HA NOI |
21
Jul 2006 |
|
3 |
Subject has got former Business
Registration No: 301999 Changed to: 0116000756 |
21
Jul 2006 |
company ADDRESSES
|
Head Office |
||
|
Address |
|
No.60B, Nguyen Huy Tuong, Thanh Xuan Trung
Ward, Thanh Xuan District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3858 6059/ 3557 7985/ 35577930/
35588246 |
|
Fax |
|
(84-4) 3858 4368 |
|
Total Land Area |
|
3000 m2 |
|
Website |
|
|
|
Image |
||
|
|
||
SUBSIDIARIES AND RELATED COMPANIES
|
1. PARENT
COMPANY - CENTRAL PHARMACEUTICAL COMPANY NO.2 |
||
|
Business Registration |
|
0300483319 |
|
Date of Registration |
|
18 Aug 2010 |
|
Place of Registration |
|
Business Registration Office – Planning and Investment Department of
Hochiminh City |
|
Registered Capital |
|
102,777,872,638 |
|
Tax code |
|
0300483319 |
|
Address |
|
No. 334 (former No.136) To Hien Thanh Str, Ward 14, 10 District, Ho
Chi Minh City, Vietnam |
|
Tel |
|
(84-8) 38650938 – 38658638 |
|
Fax |
|
(84-8) 38650750 – 38665840 |
|
Website |
|
|
DIRECTORS
|
1.
NAME |
|
Mr.
LE XUAN HAI |
|
Position |
|
Director of Branch |
|
Date of Birth |
|
18 Mar 1973 |
|
ID Number/Passport |
|
171477314 |
|
ID Issue Date |
|
24 Apr 2002 |
|
ID Issue Place |
|
Thanh Hoa Public
Security |
|
Resident |
|
Truong Village, Hoang
Thai Commune, Hoang Hoa District, Thanh Hoa Province, Vietnam |
|
Current resident |
|
No.32/99, Nguyen Khang Road Yen Hoa Ward,
Cau Giay District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
+84 913 203 970 |
|
Email |
|
|
|
|
||
|
2.
NAME |
|
Ms.
LE THI THANG |
|
Position |
|
Deputy Director of Branch |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
- Trading materials for pharmaceutical industry |
IMPORT & EXPORT ACTIVITIES
|
IMPORT: |
||
|
·
Types of products |
|
Materials |
|
·
Market |
|
China, India |
|
·
Mode of payment |
|
T/T, L/C |
|
|
||
|
EXPORT: |
||
|
Note: Currently, the subject does not export. |
||
BANKERS
|
1.
JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM |
||
|
Address |
|
No. 198 Tran Quang Khai Street, Hoan Kiem District, Ha Noi City,
Vietnam |
|
Telephone |
|
(84-4) 3934 3137 / (84-4) 3814 8919 |
|
Fax |
|
(84-4) 3826 9067 / (84-4) 3825 1322 |
SHAREHOLDERS
|
1.
NAME |
|
CENTRAL
PHARMACEUTICAL COMPANY NO.2 |
|
Business Registration |
|
0300483319 |
|
Date of Registration |
|
18 Aug 2010 |
|
Place of Registration |
|
Business Registration Office – Planning and Investment Department of
Hochiminh City |
|
Registered Capital |
|
VND 102,777,872,638 |
|
Tax code |
|
0300483319 |
|
Address |
|
No. 334 (former No.136) To Hien Thanh Str,
Ward 14, 10 District, Ho Chi Minh City, Vietnam |
|
Tel |
|
(84-8) 38650938 – 38658638 |
|
Fax |
|
(84-8) 38650750 – 38665840 |
|
Email |
|
codupha@hcm.fpt.vn |
|
Website |
|
www.codupha.com.vn |
|
Percentage |
|
100% |
FINANCIAL DATA
|
Note: Codupha Hanoi
is a branch of Codupha and acts as a dependent accounting unit; hence it has no
its own financial statements. Here are the parent company’s financial data. |
|||
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Number of weeks |
52 |
52 |
52 |
|
Audited |
Yes |
Yes |
Yes |
|
Auditor |
Auditing and Accounting Financial Consultancy Service Company Limited
(AASC) |
||
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
1,135,222,181,938
|
1,072,494,349,843
|
1,043,892,000,000
|
|
I. Cash and cash
equivalents |
41,927,466,144 |
41,772,213,021 |
21,483,000,000 |
|
1. Cash |
41,927,466,144 |
41,772,213,021 |
21,483,000,000 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
618,253,106,306 |
561,658,492,216 |
505,672,000,000 |
|
1. Receivable from customers |
576,126,913,329 |
515,610,608,912 |
474,718,000,000 |
|
2. Prepayments to suppliers |
6,470,835,857 |
9,554,001,844 |
9,089,000,000 |
|
3. Inter-company receivable |
3,340,339,603 |
3,188,972,694 |
7,854,000,000 |
|
4. Receivable according to the progress of construction |
33,551,870,307 |
0 |
0 |
|
5. Other receivable |
-1,236,852,790 |
34,254,908,933 |
14,011,000,000 |
|
6. Provisions for bad debts |
0 |
-950,000,167 |
0 |
|
IV. Inventories |
461,086,084,434 |
458,822,421,182 |
502,020,000,000 |
|
1. Inventories |
461,086,084,434 |
458,822,421,182 |
506,069,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
-4,049,000,000 |
|
V. Other Current
Assets |
13,955,525,054 |
10,241,223,424 |
14,717,000,000 |
|
1. Short-term prepaid expenses |
232,472,614 |
834,535,400 |
129,000,000 |
|
2. VAT to be deducted |
6,921,903,699 |
4,670,077,924 |
7,638,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
40,305,794 |
1,407,000,000 |
|
4. Other current assets |
6,801,148,741 |
4,696,304,306 |
5,543,000,000 |
|
B. LONG-TERM
ASSETS |
80,643,352,197 |
59,752,008,659 |
31,632,000,000 |
|
I. Long term
accounts receivable |
0 |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
0 |
|
4. Other long-term receivable |
0 |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II. Fixed assets
|
66,607,983,897 |
45,713,640,359 |
17,593,000,000 |
|
1. Tangible assets |
8,691,511,352 |
8,897,253,072 |
10,085,000,000 |
|
- Historical costs |
48,986,381,479 |
46,898,821,940 |
45,775,000,000 |
|
- Accumulated depreciation |
-40,294,870,127 |
-38,001,568,868 |
-35,690,000,000 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
6,942,944,109 |
6,960,920,148 |
7,176,000,000 |
|
- Initial costs |
8,874,340,778 |
8,874,340,778 |
8,874,000,000 |
|
- Accumulated amortization |
-1,931,396,669 |
-1,913,420,630 |
-1,698,000,000 |
|
4. Construction-in-progress |
50,973,528,436 |
29,855,467,139 |
332,000,000 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
14,035,368,300 |
14,038,368,300 |
14,039,000,000 |
|
1. Investments in affiliates |
13,535,808,300 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
499,560,000 |
13,535,808,300 |
13,536,000,000 |
|
3. Other long-term investments |
0 |
502,560,000 |
503,000,000 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
0 |
0 |
0 |
|
1. Long-term prepaid expenses |
0 |
0 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
TOTAL ASSETS |
1,215,865,534,135
|
1,132,246,358,502
|
1,075,524,000,000
|
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
1,102,513,073,171 |
1,021,580,301,659 |
970,113,000,000 |
|
I. Current
liabilities |
1,088,759,585,420 |
1,019,592,330,889 |
967,640,000,000 |
|
1. Short-term debts and loans |
491,816,332,288 |
581,236,432,754 |
494,136,000,000 |
|
2. Payable to suppliers |
441,284,301,516 |
344,436,547,570 |
373,240,000,000 |
|
3. Advances from customers |
19,008,053,057 |
20,937,918,713 |
17,202,000,000 |
|
4. Taxes and other obligations to the State Budget |
7,086,306,101 |
5,960,775,926 |
6,931,000,000 |
|
5. Payable to employees |
5,996,745,071 |
7,734,328,339 |
8,754,000,000 |
|
6. Accrued expenses |
5,120,986,667 |
50,650,000 |
139,000,000 |
|
7. Inter-company payable |
0 |
2,572,244,222 |
3,072,000,000 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
118,446,860,720 |
56,663,433,365 |
64,166,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
|
0 |
|
II. Long-Term
Liabilities |
13,753,487,751 |
1,987,970,770 |
2,473,000,000 |
|
1. Long-term accounts payable to suppliers |
11,444,077,693 |
0 |
0 |
|
2. Long-term inter-company payable |
1,917,040,058 |
0 |
0 |
|
3. Other long-term payable |
392,370,000 |
0 |
456,000,000 |
|
4. Long-term debts and loans |
0 |
0 |
0 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
1,987,970,770 |
2,017,000,000 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
113,352,460,964 |
110,666,056,843 |
105,411,000,000 |
|
I. OWNER’S
EQUITY |
113,335,916,022 |
110,539,760,131 |
102,978,000,000 |
|
1. Capital |
64,953,432,430 |
62,735,191,829 |
60,893,000,000 |
|
2. Share premiums |
0 |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
-2,608,000,000 |
|
6. Foreign exchange differences |
-4,334,247,749 |
0 |
0 |
|
7. Business promotion fund |
39,200,319,511 |
35,795,625,450 |
33,764,000,000 |
|
8. Financial reserved fund |
13,516,411,830 |
12,008,942,852 |
10,729,000,000 |
|
9. Other funds |
0 |
0 |
200,000,000 |
|
10. Retained earnings |
0 |
|
0 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
16,544,942
|
126,296,712
|
2,433,000,000 |
|
1. Bonus and welfare funds |
16,544,942 |
126,296,712 |
2,433,000,000 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
0 |
|
TOTAL LIABILITIES
AND OWNER’S EQUITY |
1,215,865,534,135
|
1,132,246,358,502
|
1,075,524,000,000
|
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
2,462,128,376,305
|
2,115,667,576,238
|
1,840,640,000,000
|
|
2. Deduction item |
29,789,596,260 |
15,893,391,866 |
16,532,000,000 |
|
3. Net sale |
2,432,338,780,045
|
2,099,774,184,372
|
1,824,108,000,000
|
|
4. Costs of goods sold |
2,207,968,013,346 |
1,919,810,835,847 |
1,676,009,000,000 |
|
5. Gross profit |
224,370,766,699 |
179,963,348,525 |
148,099,000,000 |
|
6. Financial income |
34,383,340,702 |
28,059,177,669 |
33,011,000,000 |
|
7. Financial expenses |
113,781,716,709 |
78,297,119,094 |
59,961,000,000 |
|
- In which: Loan interest expenses |
95,141,479,508 |
56,192,514,199 |
25,743,000,000 |
|
8. Selling expenses |
99,064,127,337 |
80,421,975,291 |
75,283,000,000 |
|
9. Administrative overheads |
26,347,303,357 |
28,783,953,140 |
28,787,000,000 |
|
10. Net operating profit |
19,560,959,998 |
20,519,478,669 |
17,079,000,000 |
|
11. Other income |
3,228,230,735 |
1,005,089,156 |
2,226,000,000 |
|
12. Other expenses |
24,609,917 |
1,450,000 |
0 |
|
13. Other profit /(loss) |
3,203,620,818 |
1,003,639,156 |
2,226,000,000 |
|
14. Total accounting profit before tax |
22,764,580,816 |
21,523,117,825 |
19,305,000,000 |
|
15. Current corporate income tax |
5,689,891,037 |
5,348,817,841 |
4,818,000,000 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
17,074,689,779 |
16,174,299,984 |
14,487,000,000 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
1.04 |
1.05 |
1.08 |
1.65 |
|
Quick liquidity ratio |
0.62 |
0.60 |
0.56 |
1.04 |
|
Inventory circle |
4.79 |
4.18 |
3.34 |
4.14 |
|
Average receive period |
92.78 |
97.63 |
101.18 |
105.37 |
|
Utilizing asset performance |
2.00 |
1.85 |
1.70 |
1.20 |
|
Liability by total assets |
90.68 |
90.24 |
90.20 |
53.11 |
|
Liability by owner's equity |
972.80 |
924.29 |
920.31 |
159.74 |
|
Ebit / Total assets (ROA) |
9.70 |
6.86 |
4.19 |
10.37 |
|
Ebit / Owner's equity (ROE) |
104.03 |
70.31 |
42.74 |
23.03 |
|
Ebit / Total sale (NPM) |
4.79 |
3.67 |
2.45 |
10.15 |
|
Gross profit / Total sale (GPM) |
9.11 |
8.51 |
8.05 |
25.88 |
|
Note: The Average Industry
was calculated by VietnamCredit based on our own statistical data |
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Fair |
|
Liquidity |
|
N/A |
|
Payment status |
|
N/A |
|
Financial Situation |
|
N/A |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
T/T, L/C |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Normal |
INTERPRETATION ON THE SCORES
|
CHI
NHANH CONG TY DUOC PHAM TRUNG UONG 2 was established in 1994, which had got the
Business Registration No. 301999 by Planning and Investment Department of Ha
Noi City. On 21 July 2006, its name was changed into CHI NHANH CONG TY TNHH
MOT THANH VIEN DUOC PHAM TRUNG UONG 2 HANOI under the Business Registration
No. 0116000756. Following the latest Vietnamese business law, the business
registration number and the tax code No. 0300483319-008 were synchronized on
01 September 2010. Located
at No.60B, Nguyen Huy Tuong Thanh Xuan Trung Ward - Thanh Xuan District - Ha
Noi City – Vietnam, the subject is specialized in trade of materials for
pharmaceutical industry; cosmetics and nutrition products. At present, the
subject has about 70 employees. The subject’s materials and products are
imported from China and India. These products are distributed to all over
26/31 Northern provinces of Vietnam. CODUPHA
HA NOI is managed by CENTRAL PHARMACEUTICAL COMPANY NO.2 – CODUPHA, one of
the most popular pharmaceutical distributors with strong financial capacity
in Vietnam. As a branch, the subject does not have its own financial
statements. We supplied its parent company’s financial data. According to
that, the financial statement of parent company is above average. The
liquidity ratios were acceptable in compared with the industry average and
the profitability ratios were fairly. In short, the
subject can meet small and small-medium business transactions. |
APPENDIX
|
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) |
||
|
2011 |
2010 |
|||||
|
Agriculture,
Forestry and Fishing |
4.00 |
2.78 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry and
Construction |
5.53 |
7.70 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade and
Services |
6.69 |
7.52 |
154,978 |
14,522 |
4,939,069 |
|
|
|
||||||
|
ECONOMIC
INDICATORS |
||||||
|
|
||||||
|
|
2011 |
2010 |
2009 |
|||
|
Population (Million person) |
87.84 |
86.93 |
86.02 |
|||
|
Gross Domestic Products (USD
billion) |
119 |
102.2 |
91 |
|||
|
GDP Growth (%) |
5.89 |
6.78 |
5.32 |
|||
|
GDP Per Capita
(USD/person/year) |
1,300 |
1,160 |
1,080 |
|||
|
Inflation (% Change in
Composite CPI) |
18.58 |
11.75 |
6.88 |
|||
|
State Budget Deficit compared
with GDP (%) |
4.9 |
5.8 |
6.9 |
|||
|
|
||||||
|
SERVICE TRADE
PERFORMANCE |
||||||
|
|
||||||
|
Billion USD |
2011 |
2010 |
2009 |
|||
|
Exports |
96.3 |
72.2 |
57.1 |
|||
|
Imports |
105.8 |
84.8 |
69.9 |
|||
|
Trade Balance |
-9.5 |
-12.6 |
-12.8 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.88.50 |
|
Euro |
1 |
Rs.70.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.