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Report Date : |
14.09.2012 |
IDENTIFICATION DETAILS
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Name : |
VIET NHAT INTERNATIONAL IMPORT EXPORT SERVICE
TRADING COMPANY LIMITED |
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Registered Office : |
148/1 Road T5, Group 93, Tam Dong Hamlet, Hoc Mon District, Ho Chi
Minh City |
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Country : |
Vietnam |
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Date of Incorporation : |
24.05.2011 |
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Com. Reg. No.: |
0310876728 |
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Legal Form : |
One member liability limited company |
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Line of Business : |
Wholesale of agricultural raw materials (except wood, bamboo) and live animals |
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No. of Employees : |
10 employees |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
---- |
NB |
New Business |
---- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
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English Name |
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VIET NHAT INTERNATIONAL IMPORT EXPORT
SERVICE TRADING COMPANY LIMITED |
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Vietnamese Name |
|
CONG TY TNHH MOT THANH VIEN THUONG MAI
DICH VU XUAT NHAP KHAU QUOC TE VIET NHAT |
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Type of Business |
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One member liability limited company |
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Year Established |
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2011 |
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Business Registration No. |
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0310876728 |
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Date of Registration |
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24 May 2011 |
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Place of Registration |
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Business registration Office - Planning
and Investment Department of Hochiminh City |
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Chartered capital |
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VND 1,000,000,000 |
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Tax code |
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0310876728 |
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Total Employees |
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10 |
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Head Office |
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Address |
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148/1 Road T5, Group 93, Tam Dong Hamlet,
Hoc Mon District, Ho Chi Minh City, Vietnam |
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Telephone |
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+84 949 813 039 |
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Fax |
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(84-8) 6251 3722 |
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Email |
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NAME |
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Mr. PHAM QUOC VIET |
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Position |
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Director - Owner |
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Date of Birth |
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17 Jul 1979 |
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ID Number/Passport |
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250902996 |
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ID Issue Date |
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11 Mar 2011 |
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ID Issue Place |
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Police Station of Lam
Dong Province |
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Resident |
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Group 8, Quarter 6,
Ward 2, Bao Loc District, Lam Dong Province, Vietnam |
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Current resident |
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No. 148/1 Road T5, Group 93, Tam Dong
Hamlet, Thoi Tam Thon Commune, Hoc Mon District, Ho Chi Minh City, Vietnam |
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Nationality |
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Vietnamese |
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Tel/Mobile phone |
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+84 949 813 039 |
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The
subject specializes in trading fresh onion. Wholesale
of agricultural raw materials (except wood, bamboo) and live animals Other
transportation support activities Other
professional, scientific and technical activities n.e.c Wholesale
of food Other
retail sale of new goods in specialized stores Wholesale
of computer, computer peripheral equipment and software Wholesale
of other household products Wholesale of motor vehicles Wholesale of beverages Manufacture of wearing apparel, except fur
apparel Wholesale of textiles, clothing, footwear Other manufacturing n.e.c Specialized design activities Wholesale of other machinery and equipment
n.e.c Wholesale of metals and metal ores Manufacture of made-up textile articles,
except apparel Wholesale on a fee or contract basis Wholesale of waste and scrap and other
products n.e.c Construction of other civil engineering
projects Site preparation Demolition Advertising Tour operator activities Manufacture of footwear Quarrying of stone, sand and clay |
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IMPORT: |
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Types of
products |
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Fresh onion |
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Market |
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China, India, Indonesia |
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EXPORT: |
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Types of
products |
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N/A |
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ASIA COMMERCIAL JOINT STOCK BANK |
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Address |
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444 Nguyen Thi Minh Khai, District 3, Ho Chi Minh City, Vietnam |
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Telephone |
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(84-8) 3832 8988 |
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Fax |
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(84-8) 3832 8987 |
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NAME |
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Mr. PHAM QUOC VIET |
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Position |
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Director - Owner |
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Date of Birth |
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17 Jul 1979 |
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ID Number/Passport |
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250902996 |
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Issued on |
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11 Mar 2011 |
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Issued Place |
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Police Station of Lam Dong Province |
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Resident |
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Group 8, Quarter 6, Ward 2 , Bao Loc
District, Lam Dong Province, Vietnam |
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Current Resident |
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148/1 Road T5, Group 93, Tam Dong Hamlet,
Thoi Tam Thon Commune , Hoc Mon District, Ho Chi Minh City, Vietnam |
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Mobile phone |
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+84 949 813 039 |
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Nationality |
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Vietnamese |
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Value of shares |
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VND 1,000,000,000 |
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Percentage |
|
100% |
Not available!
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Trade Morality |
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Normal |
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Liquidity |
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N/A |
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Payment status |
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N/A |
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Financial Situation |
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Below Average |
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Development trend |
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N/A |
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Litigation data |
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No Record |
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Bankruptcy |
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No Record |
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Payment Methods |
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Direct payment or through its corresponding bank, TT |
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Sale Methods |
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Wholesaler |
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The subject - VIET NHAT
INTERNATIONAL IMPORT EXPORT SERVICE TRADING COMPANY LIMITED - is one
member limited liability company which has just been established in
2011. The subject is operating under business registration No.
0310876728 issued by Business
Registration Office - Planning and Investment Department of Hochiminh City.
Its registered capital is VND 1 billion. The subject is belonged to Mr.
Pham Quoc Viet (Director). It specializes in trading fresh onion. According
to Mr. Viet, he imports fresh onion from India, China and Indonesia and
distributes in domestic market. Customers of the subject are food
manufacturers, other retailers in markets…
Sometimes the subject exports Vietnamese fresh onion to foreign countries. We had visited to
the subject’s office which is located at 148/1 Road T5, Group 93,
Tam Dong Hamlet, Hoc Mon District, Ho Chi Minh City, Vietnam. This place is
also the private house of Mr. Viet. Premise and facility is normal. As Mr.
Viet shared, business operation of the subject in recent times is not good.
There are a lot of companies which trade in the same field with the subject.
Up till now, the subject do not have profit. In overview, the subject is
operating at a small scale with about 10 staff. The management capacity is
normal. Its business operation seems not busy. Moreover, the registered
capital of the subject is still humble. In our opinion, caution needed for
business transaction with the subject at present. |
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INDUSTRY DATA |
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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) |
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2011 |
2010 |
|||||
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Agriculture,
Forestry and Fishing |
4.00 |
2.78 |
8,749 |
23,896.3 |
81,559 |
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Industry and
Construction |
5.53 |
7.70 |
85,115 |
10,630 |
2,751,975 |
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Trade and
Services |
6.69 |
7.52 |
154,978 |
14,522 |
4,939,069 |
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ECONOMIC INDICATORS |
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2011 |
2010 |
2009 |
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Population (Million person) |
87.84 |
86.93 |
86.02 |
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Gross Domestic Products (USD billion) |
119 |
102.2 |
91 |
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GDP Growth (%) |
5.89 |
6.78 |
5.32 |
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GDP Per Capita (USD/person/year) |
1,300 |
1,160 |
1,080 |
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Inflation (% Change in Composite CPI) |
18.58 |
11.75 |
6.88 |
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State Budget Deficit compared with GDP (%) |
4.9 |
5.8 |
6.9 |
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SERVICE TRADE PERFORMANCE |
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Billion USD |
2011 |
2010 |
2009 |
|||
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Exports |
96.3 |
72.2 |
57.1 |
|||
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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.55.44 |
|
UK Pound |
1 |
Rs.89.31 |
|
Euro |
1 |
Rs.71.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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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.