|
Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
DIEN THANH JOINT STOCK COMPANY |
|
|
|
|
|
|
Registered Office : |
327 Nguyen Trong Tuyen Str, Ward 10, Phu Nhuan District, Ho Chi Minh City |
|
|
|
|
|
|
Country : |
Vietnam |
|
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
|
|
Year of Establishment : |
2004 |
|
|
|
|
|
|
Com. Reg. No.: |
0303549261 |
|
|
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
|
|
Line of Business : |
This subject specialized in trading chemicals, fertilizers, plant seeds used for agriculture. |
|
|
|
|
|
|
No. of Employees : |
7 |
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) |
|
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 |
|
DIEN THANH JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN DIEN THANH |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2004 |
|
Business Registration No. |
|
0303549261 |
|
Date of Registration |
|
21 Mar 2011 |
|
Date of the latest (04th)
Adjustment |
|
22 Feb 2012 |
|
Place of Registration |
|
Business Registration Office – Planning
and Investment Department of Ho chi minh City |
|
Chartered capital |
|
VND 6,800,000,000 |
|
Tax code |
|
0303549261 |
|
Total Employees |
|
7 |
|
Size |
|
Small |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 4103002869 Changed to: 0303549261 |
21
Mar 2011 |
|
2 |
Subject has got former chartered capital:
VND 1,600,000,000 Changed to: VND 6,800,000,000 |
21
Mar 2011 |
|
3 |
Subject has got former Vietnamese name:
Cong Ty Co Phan Bao Ve Thuc Vat Dien Thanh Changed to: Cong Ty Co Phan Dien Thanh |
N/A |
ADDRESSES
|
|||
|
|
|||
|
Registered
Office |
|||
|
Address |
|
327 Nguyen Trong Tuyen Str, Ward 10, Phu
Nhuan District, Ho Chi Minh City, Vietnam |
|
|
Telephone |
|
(84-8) 3844 1445 |
|
|
|
|||
|
Head office |
|||
|
Address |
|
387 Nguyen Trong Tuyen, Ward 10, Phu Nhuan
District, Ho Chi Minh City - Vietnam |
|
|
Telephone |
|
(84-8) 3844 8489 |
|
|
Fax |
|
(84-8) 3844 2778 |
|
|
Note: This is also the head
office of Nong Phat Trading
and Service Co.,Ltd (business code: 0301419926) |
|||
|
|
|||
DIRECTORS
|
|||
|
|
|||
|
1.
NAME |
|
Mr.
PHAM VAN NAM |
|
|
Position |
|
Director – Legal representer |
|
|
Year
of Birth |
|
1964 |
|
|
ID Number/Passport |
|
310468693 |
|
|
ID Issue Date |
|
09 Jan 2004 |
|
|
ID Issue Place |
|
Pollice Station of
Tien Giang Province |
|
|
Resident |
|
Quarter 4, Ward 10,
My Tho City, Tien Giang Provinve, Vietnam |
|
|
Current Resident |
|
No. 385/1 Nguyen Trong
Tuyen Str, Ward 2, Tan Binh District, Ho Chi Minh City, Vietnam |
|
|
Nationality |
|
Vietnamese |
|
|
|
|||
|
NAME |
|
Mr. VO NGOC SON |
|
|
Position
|
|
Former
Director |
|
|
Date
of Birth |
|
22
Mar 1978 |
|
|
ID
Number/Passport |
|
311612046 |
|
|
ID
Issue Date |
|
08 Sep 1997 |
|
|
ID
Issue Place |
|
Pollice Station of Tien Giang Province |
|
|
Resident |
|
339/27 Nguyen Thai Binh Str, Ward 12, Tan Binh
District, Ho Chi Minh City, Vietnam |
|
|
Nationality |
|
Vietnamese |
|
|
2.
NAME |
|
Mr.
VO VAN MINH |
|
|
Position |
|
Chairman |
|
|
ID Number/Passport |
|
024637718 |
|
|
Resident |
|
339/27 Nguyen Thai Binh Str, Ward 12, Tan
Binh District, Ho Chi Minh City, Vietnam |
|
|
Nationality |
|
Vietnamese |
|
|
|
|||
BUSINESS
NATURE AND ACTIVITIES
|
|
|
|
This
subject specialized in trading chemicals, fertilizers, plant seeds used for
agriculture. |
|
|
IMPORT
& EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Products (chemicals, fertilizers,
plant seeds) |
|
·
Market |
|
China, Malaysia |
|
|
||
|
EXPORT: |
||
|
The subject does
not export |
||
|
|
||
BANKERS
|
||
|
|
||
|
1.
ASIA COMMERCIAL BANK NGUYEN VAN TROI BRANCH |
||
|
Address |
|
No.23 Nguyen Van Troi, Phu Nhuan District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3845 8479 |
|
Fax |
|
(84-8) 3845 5690 |
|
|
||
|
2.
EXIMBANK BINH TAN BRANCH |
||
|
Address |
|
10 Kinh Duong Vuong, Ward 13, 6th District, Ho Chi Minh City,
Vietnam |
|
Telephone |
|
|
|
|
||
SHAREHOLDERS
|
||
Following is its registration
shareholders:
|
||
|
1.
NAME |
|
Mr.
DANG HOANG NAM |
|
ID Number/Passport |
|
300887906 |
|
Resident |
|
15 Nguyen Huu Huan, Group No. 2, Tam Vu
Town, Chau Thanh District, Long An Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
500 |
|
Value of shares |
|
VND 500,000,000 |
|
|
||
|
2.
NAME |
|
Ms.
VO THI ANH |
|
ID Number/Passport |
|
024672837 |
|
Resident |
|
327 Nguyen Trong Tuyen, Ward 10, Phu Nhuan
Dist, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
500 |
|
Value of shares |
|
VND 500,000,000 |
|
|
||
|
3.
NAME |
|
Mr.
VO VAN MINH |
|
Position |
|
Chairman |
|
ID Number/Passport |
|
024637718 |
|
Resident |
|
339/27 Nguyen Thai Binh, Ward 12, Tan Binh
Dist, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
600 |
|
Value of shares |
|
VND 600,000,000 |
|
|
||
FINANCIAL
DATA
|
|||
|
|
|||
|
BALANCE
SHEET |
|||
Unit: One
VND
|
|||
|
Balance sheet
date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
52 |
ASSETS
|
|||
|
A – CURRENT
ASSETS |
45,209,802,410 |
42,863,656,643 |
27,679,593,209 |
|
I. Cash and cash
equivalents |
664,864,480 |
804,973,234 |
431,599,121 |
|
1. Cash |
664,864,480 |
804,973,234 |
431,599,121 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term investments
|
1,115,100,000 |
0 |
0 |
|
1. Short-term investments |
1,115,100,000 |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
37,241,420,068 |
29,059,696,228 |
18,387,654,667 |
|
1. Receivable from customers |
37,241,420,068 |
26,059,696,228 |
15,887,654,667 |
|
2. Prepayments to suppliers |
0 |
0 |
0 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
0 |
3,000,000,000 |
2,500,000,000 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
5,977,083,132 |
12,457,359,102 |
8,456,237,698 |
|
1. Inventories |
5,977,083,132 |
12,457,359,102 |
8,456,237,698 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
|
|
V. Other Current
Assets |
211,334,730 |
541,628,079 |
404,101,723 |
|
1. Short-term prepaid expenses |
0 |
0 |
2,699,504 |
|
2. VAT to be deducted |
211,334,730 |
899,840 |
401,402,219 |
|
3. Taxes and other accounts receivable from the State |
0 |
540,728,239 |
0 |
|
4. Other current assets |
0 |
0 |
0 |
|
B. LONG-TERM
ASSETS |
801,736,158 |
8,599,858 |
20,282,614 |
|
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
|
801,736,158 |
8,599,858 |
20,282,614 |
|
1. Tangible assets |
801,736,158 |
8,599,858 |
20,282,614 |
|
- Historical costs |
873,183,626 |
58,413,743 |
58,413,743 |
|
- Accumulated depreciation |
-71,447,468 |
-49,813,885 |
-38,131,129 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
0 |
|
- Initial costs |
0 |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
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 |
|||
|
1. Goodwill |
|||
|
TOTAL ASSETS |
46,011,538,568 |
42,872,256,501 |
27,699,875,823 |
|
|
|||
LIABILITIES
|
|||
|
A- LIABILITIES |
45,223,278,492 |
41,311,630,916 |
26,281,682,736 |
|
I. Current
liabilities |
44,973,078,492 |
41,311,630,916 |
26,281,682,736 |
|
1. Short-term debts and loans |
9,000,000,000 |
7,000,000,000 |
2,500,000,000 |
|
2. Payable to suppliers |
35,970,527,661 |
34,262,387,074 |
23,735,485,013 |
|
3. Advances from customers |
0 |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
2,550,831 |
49,243,842 |
4,947,723 |
|
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 |
41,250,000 |
|
9. Other payable |
0 |
0 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
250,200,000 |
0 |
0 |
|
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 |
250,200,000 |
0 |
0 |
|
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 |
788,260,076 |
1,560,625,585 |
1,418,193,087 |
|
I. OWNER’S
EQUITY |
788,260,076 |
1,560,625,585 |
1,418,193,087 |
|
1. Capital |
1,600,000,000 |
1,600,000,000 |
1,600,000,000 |
|
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 |
0 |
|
6. Foreign exchange differences |
-129,636 |
-129,696 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
-811,610,288 |
-39,244,719 |
-181,806,913 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds |
0 |
0 |
0 |
|
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 |
46,011,538,568 |
42,872,256,501 |
27,699,875,823 |
|
|
|||
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
68,687,257,100 |
48,719,747,474 |
33,373,002,340 |
|
2. Deduction item |
0 |
0 |
0 |
|
3. Net revenue |
68,687,257,100 |
48,719,747,474 |
33,373,002,340 |
|
4. Costs of goods sold |
64,325,470,426 |
45,047,999,619 |
30,666,149,809 |
|
5. Gross profit |
4,361,786,674 |
3,671,747,855 |
2,706,852,531 |
|
6. Financial income |
139,946,003 |
357,757,041 |
299,433,178 |
|
7. Financial expenses |
3,561,341,390 |
3,317,596,053 |
2,367,761,033 |
|
- In which: Loan interest expenses |
1,010,716,934 |
3,317,596,053 |
2,367,761,033 |
|
8. Selling expenses |
0 |
0 |
|
|
9. Administrative overheads |
544,155,097 |
430,515,448 |
501,483,799 |
|
10. Net operating profit |
396,236,190 |
281,393,395 |
137,040,877 |
|
11. Other income |
0 |
0 |
0 |
|
12. Other expenses |
0 |
0 |
0 |
|
13. Other profit /(loss) |
0 |
0 |
0 |
|
14. Total accounting profit before tax |
396,236,190 |
281,393,395 |
137,040,877 |
|
15. Current corporate income tax |
99,059,048 |
0 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
|||
|
18. Profit after tax |
297,177,142 |
281,393,395 |
137,040,877 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.01 |
1.04 |
1.05 |
1.56 |
|
Quick liquidity ratio |
0.87 |
0.74 |
0.73 |
0.82 |
|
Inventory circle |
6.98 |
4.31 |
3.63 |
7.71 |
|
Average receive period |
197.90 |
217.71 |
201.11 |
57.49 |
|
Utilizing asset performance |
1.49 |
1.14 |
1.20 |
2.53 |
|
Liability by total assets |
98.29 |
96.36 |
94.88 |
59.02 |
|
Liability by owner's equity |
5,737.10 |
2,647.12 |
1,853.18 |
219.47 |
|
Ebit / Total assets (ROA) |
3.06 |
8.39 |
9.04 |
13.30 |
|
Ebit / Owner's equity (ROE) |
178.49 |
230.61 |
176.62 |
35.73 |
|
Ebit / Total revenue (NPM) |
2.05 |
7.39 |
7.51 |
7.62 |
|
Gross profit / Total revenue (GPM) |
6.35 |
7.54 |
8.11 |
16.22 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
|
|
||||
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
|
||
|
|
|
||
|
Trade Morality |
|
Normal |
|
|
Liquidity |
|
Low/Medium |
|
|
Payment status |
|
Limited |
|
|
Financial Situation |
|
Average |
|
|
Development trend |
|
Stable |
|
|
Litigation data |
|
No Record |
|
|
Bankruptcy |
|
No Record |
|
|
Payment Methods |
|
Direct payment or through its corresponding bank |
|
|
Sale Methods |
|
Retailer and Wholesaler |
|
|
Public opinion |
|
Normal |
|
|
|
|||
INTERPRETATION
ON THE SCORES
|
|
|
|
DIEN THANH JOINT STOCK COMPANY was established in
2004 under the Business Registration No. 4103002869 with a chartered capital
of VND 1,600,000,000. Currently, the subject is operating under the Business
Registration No. 0303549261 with a chartered
capital of VND 6,800,000,000. This subject specializes in trading materials and
products used for agriculture such as fertilizers, medical products and other
products. Some products of the subject are Katera 50EC, NP Pheta 6.6EC, Nicozol 12.5WP, T.B.Zol
250EW… Most
of its goods are purchased domestically through other big agency. In order to
decline input expenses and expand its business activities, this subject made
a decision on the import from Chinese traders and manufacturers. In addition,
the subject imports products from Malaysia market. The market has been a little hard, but it is saw that subject’s business is still positive with green lights. The latest financial
statements have not been available in our source. In general, the subject
is a small company and it is not famous in the market. The future prospect is
just normal. The subject is graded at B, it just can meet small financial
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.53.53 |
|
|
1 |
Rs.86.82 |
|
Euro |
1 |
Rs.69.03 |
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.