|
Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
EUROPE NUTRITION COMPANY LIMITED |
|
|
|
|
Registered Office : |
No. 4 Street, Lot B2-28, Tan Dong Hiep B Industrial Park, Tan Hiep
Dong Ward, Di An Town, Binh Duong Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
2003 |
|
|
|
|
Com. Reg. No.: |
0303096565 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of prepared animal, fish, poultry feeds |
|
|
|
|
No. of Employees : |
100 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 |
Current legal status
|
||
|
Registered English Name |
|
EUROPE NUTRITION COMPANY LIMITED |
|
Registered Vietnamese Name |
|
CONG TY TNHH DINH DUONG AU CHAU |
|
Registered Trade name |
|
EUROPE NUTRITION CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2003 |
|
Business Registration No. |
|
0303096565 |
|
Date of lastest adjustment (9th) |
|
14 Jun 2011 |
|
Place of Registration |
|
Business Registration Office - Planning and
Investment Department of Binh Duong Province |
|
Chartered capital |
|
VND 18,000,000,000 |
|
Tax code |
|
0303096565 |
|
Total Employees |
|
100 |
Historical
Identification & Legal form
|
List |
Changed Items |
|
1 |
Subject has got former Chartered Capital:
VND 9,000,000,000 Changed to: VND 18,000,000,000 |
|
2 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH THUC AN CHAN NUOI AU CHAU V.N Changed to: CONG TY TNHH DINH DUONG AU
CHAU |
|
3 |
Subject has got former Business
Registration No. 4602001383 issued on 12 Jan 2005 Changed to: No. 0303096565 |
|
Head Office |
||
|
Address |
|
No. 4 Street, Lot B2-28, Tan Dong Hiep B Industrial
Park, Tan Hiep Dong Ward, Di An Town, Binh Duong Province, Vietnam |
|
Telephone |
|
(84-650) 373 7468 |
|
Fax |
|
(84-650) 373 7469 |
|
Email |
|
|
|
1.
NAME |
|
Mr.
LE BINH HUNG |
|
Position |
|
Chairman cum Director |
|
Date of Birth |
|
30 Sep 1963 |
|
ID Number/Passport |
|
023896671 |
|
ID Issue Date |
|
04 May 2001 |
|
ID Issue Place |
|
Police station of
Hochiminh City |
|
Resident |
|
D25 Le Duc Tho Street,
Ward 6, Go Vap District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
2.
NAME |
|
Mr.
NGUYEN DINH PHUONG |
|
Position |
|
Deputy Director |
|
ID Number/Passport |
|
024832697 |
|
Resident |
|
No. 111 Nguyen Kiem
Street, Ward 3, Go Vap District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
3.
NAME |
|
Ms.
LE THI MONG HUYEN |
|
Position |
|
Chief Accountant |
|
Resident |
|
Ho Chi Minh City,
Vietnam |
|
Nationality |
|
Vietnamese |
|
Email |
|
|
|
Qualification |
|
Bachelor |
|
The subject
registers and operates in the following business activities: -
Manufacture
of prepared animal, fish, poultry feeds -
Wholesale
of agricultural machinery, equipment and supplies -
Wholesale
of agricultural raw materials (except wood, bamboo) and live animals -
Freshwater
aquaculture -
Support
activities for animal production -
Wholesale
of other machinery and equipment, parts |
|
IMPORT: |
||
|
·
Market |
|
Canada, India, HonggKong, China |
|
|
||
|
EXPORT: |
||
|
·
Market |
|
N/A |
|
VIET
NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE BINH DUONG INDUSTRIAL
PARK |
||
|
Address |
|
No.20 Doc Lap Street, Di An Town, Binh Duong Province, Vietnam |
|
Telephone |
|
(84-650) 3790 309 |
|
1.
NAME |
|
Mr.
LE BINH HUNG |
|
Position |
|
Director |
|
Date of Birth |
|
30 Sep 1963 |
|
ID Number/Passport |
|
023896671 |
|
Issued on |
|
04 May 2001 |
|
Issued Place |
|
Police station of Hochiminh City |
|
Resident |
|
D25 Le Duc Tho Street, Ward 6, Go Vap
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 17,280,000,000 |
|
Percentage |
|
96% |
|
|
||
|
2.
NAME |
|
Mr.
NGUYEN DINH PHUONG |
|
Position |
|
Deputy Director |
|
ID Number/Passport |
|
024832697 |
|
Resident |
|
No. 111 Nguyen Kiem Street, Ward 3, Go Vap
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 720,000,000 |
|
Percentage |
|
4% |
|
BALANCE
SHEET |
|||
Unit: Million VND
|
|||
|
Balance sheet
date |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
32,513 |
29,618 |
22,666 |
|
I. Cash and cash
equivalents |
2,143 |
1,913 |
922 |
|
1. Cash |
1,146 |
551 |
922 |
|
2. Cash equivalents |
997 |
1,362 |
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 |
9,394 |
13,339 |
7,210 |
|
1. Receivable from customers |
4,715 |
5,173 |
3,852 |
|
2. Prepayments to suppliers |
58 |
135 |
3,309 |
|
3. Inter-company receivable |
4,000 |
8,000 |
49 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
621 |
31 |
0 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
20,119 |
13,775 |
14,205 |
|
1. Inventories |
20,119 |
13,775 |
14,205 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
857 |
591 |
329 |
|
1. Short-term prepaid expenses |
757 |
0 |
0 |
|
2. VAT to be deducted |
100 |
591 |
329 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
0 |
0 |
0 |
|
B. LONG-TERM
ASSETS |
6,571 |
6,962 |
5,024 |
|
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
|
6,571 |
6,962 |
5,024 |
|
1. Tangible assets |
5,500 |
5,814 |
3,800 |
|
- Historical costs |
9,048 |
8,758 |
6,077 |
|
- Accumulated depreciation |
-3,548 |
-2,944 |
-2,277 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
1,071 |
1,148 |
1,224 |
|
- Initial costs |
1,565 |
1,565 |
1,565 |
|
- Accumulated amortization |
-494 |
-417 |
-341 |
|
4. Construction-in-progress |
0 |
0 |
0 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
0 |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
0 |
|
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 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
39,084 |
36,580 |
27,690 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
8,474 |
10,522 |
12,917 |
|
I. Current
liabilities |
8,122 |
9,842 |
12,602 |
|
1. Short-term debts and loans |
5,024 |
2,771 |
3,445 |
|
2. Payable to suppliers |
2,756 |
6,713 |
8,831 |
|
3. Advances from customers |
342 |
358 |
326 |
|
4. Taxes and other obligations to the State Budget |
0 |
0 |
0 |
|
5. Payable to employees |
0 |
0 |
0 |
|
6. Accrued expenses |
0 |
0 |
0 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
0 |
0 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term Liabilities
|
352 |
680 |
315 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
352 |
680 |
315 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
30,610 |
26,058 |
14,773 |
|
I. OWNER’S
EQUITY |
29,222 |
25,921 |
14,541 |
|
1. Capital |
17,250 |
17,741 |
8,753 |
|
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 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
1,202 |
835 |
1,138 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
10,770 |
7,345 |
4,650 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
1,388 |
137 |
232 |
|
1. Bonus and welfare funds (Elder form) |
1,388 |
137 |
232 |
|
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 |
39,084 |
36,580 |
27,690 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
90,895 |
80,412 |
61,469 |
|
2. Deduction item |
156 |
225 |
439 |
|
3. Net sale |
90,739 |
80,187 |
61,030 |
|
4. Costs of goods sold |
72,645 |
65,777 |
49,629 |
|
5. Gross profit |
18,094 |
14,410 |
11,401 |
|
6. Financial income |
16 |
19 |
33 |
|
7. Financial expenses |
698 |
939 |
1,284 |
|
- In which: Loan interest expenses |
698 |
939 |
1,284 |
|
8. Selling expenses |
5,805 |
5,409 |
0 |
|
9. Administrative overheads |
2,323 |
1,839 |
6,008 |
|
10. Net operating profit |
9,284 |
6,242 |
4,142 |
|
11. Other income |
1,828 |
2,036 |
632 |
|
12. Other expenses |
342 |
933 |
124 |
|
13. Other profit /(loss) |
1,486 |
1,103 |
508 |
|
14. Total accounting profit before tax |
10,770 |
7,345 |
4,650 |
|
15. Current corporate income tax |
0 |
0 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
|
|
|
18. Profit after tax |
10,770 |
7,345 |
4,650 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
4.00 |
3.01 |
1.80 |
1.21 |
|
Quick liquidity ratio |
1.53 |
1.61 |
0.67 |
0.41 |
|
Inventory circle |
3.61 |
4.70 |
3.49 |
4.09 |
|
Average receive period |
37.79 |
60.72 |
43.12 |
35.22 |
|
Utilizing asset performance |
2.32 |
2.19 |
2.20 |
1.99 |
|
Liability by total assets |
21.68 |
28.76 |
46.65 |
64.75 |
|
Liability by owner's equity |
27.68 |
40.38 |
87.44 |
199.02 |
|
Ebit / Total assets (ROA) |
29.34 |
22.65 |
21.43 |
12.59 |
|
Ebit / Owner's equity (ROE) |
37.46 |
31.79 |
40.17 |
36.14 |
|
Ebit / Total sale (NPM) |
12.62 |
10.30 |
9.65 |
6.48 |
|
Gross profit / Total sale (GPM) |
19.91 |
17.92 |
18.55 |
12.11 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
|
CASH
FLOW STATEMENT |
||
|
(Indirect method) |
||
|
Items |
FY2011 |
FY2010 |
|
I. Cash flows
from operating activities |
||
|
1. Profit before tax |
10,770 |
7,345 |
|
2. Adjustments |
|
|
|
- Depreciation and amortization |
681 |
743 |
|
- Provisions |
0 |
0 |
|
- Unrealized foreign exchange difference |
0 |
0 |
|
- Gain/loss from investing activities |
0 |
|
|
- Interest expense |
698 |
939 |
|
3. Operating profit before movements in working
capital |
12,149 |
9,027 |
|
- (Increase)/Decrease in receivables |
3,945 |
-6,129 |
|
- (Increase)/Decrease in inventories |
-6,344 |
430 |
|
- Increase/(Decrease) in accounts payable |
-2,722 |
-2,086 |
|
- (Increase)/Decrease in prepaid expenses |
-757 |
-262 |
|
- Interest paid |
-698 |
-939 |
|
- Corporate income tax paid |
0 |
0 |
|
- Other cash inflows |
0 |
|
|
- Other cash outflows |
-6,487 |
-5,048 |
|
Net cash from (used in) operating activities |
-914 |
-5,007 |
|
II. Cash flows from
investing activities |
||
|
1. Acquisition of fixed assets and other long - term assets |
-290 |
-2,681 |
|
2. Proceeds from fixed assets and long - term assets disposal |
0 |
0 |
|
3. Cash outflow for lending, buying debt instruments of other companies
|
0 |
0 |
|
4. Cash recovered from lending, selling debt instruments of other
companies |
0 |
0 |
|
5. Investment in other entities |
0 |
0 |
|
6. Cash recovered from investments in other entities |
0 |
0 |
|
7. Interest income, dividend and profit paid |
0 |
|
|
Net cash from (used in) investing activities |
-290 |
-2,681 |
|
III. Cash flows
from financing activities |
||
|
1. Proceeds from issuing stocks, receiving capital from owners |
-491 |
8,988 |
|
2. Capital withdrawal, buying back issued stocks |
0 |
|
|
3. Proceeds from borrowings |
1,925 |
-309 |
|
4. Repayment of borrowings |
0 |
|
|
5. Repayment of obligations under finance leased |
0 |
|
|
6. Dividends paid |
0 |
|
|
Net cash from (used in) financing activities |
1,434 |
8,679 |
|
Net increase/(decrease) in cash and cash equivalents |
230 |
991 |
|
Cash and cash equivalents at beginning of year |
1,913 |
922 |
|
Effect from changing foreign exchange rate |
0 |
|
|
Cash and cash equivalents at end of year |
2,143 |
1,913 |
|
Trade Morality |
|
Normal |
|
Liquidity |
|
Medium/High |
|
Payment status |
|
Normal |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Direct payment or through its corresponding bank |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Normal |
|
Subject
- EUROPE NUTRITION COMPANY
LIMITED - is a limited
liability company which was established in 2003. Currently subject is activating
under the business registration No. 0303096565. Its chartered capital is VND
18,000,000,000. The
subject specializes in manufacturing and trading animal feed, poultry feed.
Besides, subject trades equipment, machine for animal husbandry sector. The
materials and machine for production of the subject are imported from Canada
and India, HongKong and china. Its products are distributed for domestic
market. Currently,
subject located at No. 4 Street, Lot B2-28, Tan Dong Hiep B Park - Di An
District - Binh Duong Province. Competition
capability of subject is average. Its trademark is normal. Its market share
is small and more difficulties because there are many big and strong
competitors from international and domestic companies in this industry such as
CJ VINA AGRI, CARGILL, PROCONCO, GREENFEED, CP, ANOVAFEED and ANCO… In
2011, most of big feed companies in Vietnam got high profitability. Business
results of subject was quite good growth. Profitability of subject on 2011
was more than VND 10.7 billion increasing 46,63% in comparison with 2010.
Liquidity and operational ratios are fair. In
general, subject operates in small-medium scale. Its management capability is
average with a labor force of about 100 persons. In our opinion, it has
capacity to meet financial commitments and no caution needed for any
small-normal business transaction. |
|
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.