|
Report Date : |
02.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KHANH VINH SALT COMPANY LIMITED |
|
|
|
|
Registered Office : |
Cau Trung Hamlet, Quang Hung Commune, An Lao District, Hai Phong City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Incorporation : |
2004 |
|
|
|
|
Com. Reg. No.: |
0200581746 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
The subject is specialized in manufacturing and processing industrial salt. |
|
|
|
|
No. of Employees : |
60 |
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 : |
Usually Correct |
|
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 |
|
KHANH VINH SALT COMPANY LIMITED |
|
Vietnamese Name |
|
CONG TY TRACH NHIEM HUU HAN MUOI KHANH
VINH |
|
Short name |
|
KHANH VINH SALT CO.,LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2004 |
|
Business Registration No. |
|
0200581746 |
|
Date of Registration |
|
2009 |
|
Place of Registration |
|
Hai Phong Department of Planning and
Investment |
|
Chartered capital |
|
VND 9,900,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0200581746 |
|
Total Employees |
|
60 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former chartered capital: VND
5,000,000,000 Changed to: VND 9,900,000,000 |
18
Dec 2010 |
|
2 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH MUOI KHANH VINH Changed to: CONG TY TRACH NHIEM HUU HAN
MUOI KHANH VINH |
18
Dec 2010 |
|
3 |
Subject has got former Business
Registration No: 0202001845 Changed to: 0200581746 |
2009
|
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
Cau Trung Hamlet, Quang Hung Commune, An
Lao District, Hai Phong City, Vietnam |
|
|
||
|
Transaction office
in Hai Phong |
||
|
Address |
|
No. 28/292 Lach Tray Street, Le Chan
District, Hai Phong City, Vietnam |
|
Telephone |
|
(84-31) 3748899/ 3740616 |
|
Fax |
|
(84-31) 3729814 |
|
Email |
|
|
|
|
||
|
Branch in Ninh
Thuan |
||
|
Address |
|
Nui Quyt Hamlet, Ninh Hai District, Ninh
Thuan Province, Vietnam |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Ms.
NGUYEN THI PHUONG |
|
Position |
|
Director |
|
Date of Birth |
|
13 Nov 1949 |
|
ID Number/Passport |
|
030966411 |
|
ID Issue Date |
|
10 Sep 2001 |
|
ID Issue Place |
|
Police station of Hai
Phong City |
|
Resident |
|
Tieu Bang Group Bang
La Ward, Do Son District, Hai Phong City, Vietnam |
|
Current resident |
|
Hao Khe Cluster Du Hang Kenh Ward, Le Chan
District, Hai Phong City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Mr.
NGUYEN VAN CUONG |
|
Position |
|
Chief Accountant |
|
ID Number/Passport |
|
030670847 |
|
Resident |
|
No. 44/12 Ngo Quyen,
May Chai Ward, Ngo Quyen District, Hai Phong City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
+84 912 607767 |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The
subject is specialized in manufacturing and processing industrial salt. |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Industrial salt |
|
·
Market |
|
India (mainly), Pakistan, Bangladesh, etc |
|
|
||
|
EXPORT: |
||
|
Note: Currently, the subject does not export. |
||
|
|
||
BANKERS
|
||
|
|
||
|
1.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT HAI PHONG BRANCH |
||
|
Address |
|
283 Lach Tray Str, Ngo Quyen District, Hai Phong City, Vietnam |
|
Telephone |
|
(84-31) 3728 975 |
|
Fax |
|
(84-31) 3728 113 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Ms.
NGUYEN THI PHUONG |
|
Position |
|
Director |
|
Date of Birth |
|
13 Nov 1949 |
|
ID Number/Passport |
|
030966411 |
|
Issued on |
|
10 Sep 2001 |
|
Issued Place |
|
Police station of Hai Phong City |
|
Resident |
|
Tieu Bang Group Bang La Ward, Do Son
District, Hai Phong City, Vietnam |
|
Current Resident |
|
Hao Khe Cluster Du Hang Kenh Ward, Le Chan
District, Hai Phong City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 5,000,000,000 |
|
Percentage |
|
50.51% |
|
|
||
|
2.
NAME |
|
Mr.
PHAM BA CAM |
|
ID Number/Passport |
|
030642904 |
|
Resident |
|
Housing Group 13, Quarter 1 Du Hang Kenh
Ward, Le Chan District, Hai Phong City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 1,000,000,000 |
|
Percentage |
|
10.1% |
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN VAN CUONG |
|
Position |
|
Chief Accountant |
|
ID Number/Passport |
|
030670847 |
|
Resident |
|
No. 44/12 Ngo Quyen, May Chai Ward, Ngo Quyen
District, Hai Phong City, Vietnam |
|
Mobile phone |
|
+84 912 607767 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 1,900,000,000 |
|
Percentage |
|
19.19% |
|
|
||
|
4.
NAME |
|
Ms.
BUI THI TAM |
|
ID Number/Passport |
|
030825269 |
|
Resident |
|
No. 20 Nguyen Binh, Kenh Duong Ward, Le
Chan District, Hai Phong City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 1,000,000,000 |
|
Percentage |
|
10.1% |
|
|
||
|
5.
NAME |
|
Ms.
HOANG THI HAU THAO |
|
ID Number/Passport |
|
030995381 |
|
Resident |
|
No. 127, Group 15 Hang Kenh 1 Block, Du
Hang Kenh Ward, Le Chan District, Hai Phong City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 1,000,000,000 |
|
Percentage |
|
10.1% |
|
|
||
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 |
24,546,009,547 |
12,072,863,651 |
16,185,767,650 |
|
I. Cash and cash
equivalents |
2,406,405,067 |
319,168,771 |
639,939,236 |
|
1. Cash |
2,406,405,067 |
319,168,771 |
639,939,236 |
|
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 |
10,887,833,551 |
9,851,842,957 |
14,147,316,920 |
|
1. Receivable from customers |
10,887,833,551 |
9,644,842,957 |
14,147,316,920 |
|
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 |
207,000,000 |
0 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
11,223,121,429 |
1,594,187,423 |
1,369,956,494 |
|
1. Inventories |
11,223,121,429 |
1,594,187,423 |
1,369,956,494 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
28,649,500 |
307,664,500 |
28,555,000 |
|
1. Short-term prepaid expenses |
0 |
0 |
0 |
|
2. VAT to be deducted |
0 |
0 |
0 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
28,649,500 |
307,664,500 |
28,555,000 |
|
B. LONG-TERM
ASSETS |
8,440,499,670 |
8,959,419,245 |
4,601,250,622 |
|
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
|
6,340,499,670 |
6,859,419,245 |
4,601,250,622 |
|
1. Tangible assets |
4,379,104,070 |
4,898,023,645 |
3,201,250,622 |
|
- Historical costs |
7,997,191,725 |
7,584,344,309 |
5,196,092,309 |
|
- Accumulated depreciation |
-3,618,087,655 |
-2,686,320,664 |
-1,994,841,687 |
|
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 |
1,961,395,600 |
1,961,395,600 |
1,400,000,000 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
2,100,000,000 |
2,100,000,000 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
2,100,000,000 |
2,100,000,000 |
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 |
32,986,509,217 |
21,032,282,896 |
20,787,018,272 |
|
|
|||
LIABILITIES
|
|||
|
A- LIABILITIES |
21,045,112,037 |
14,453,467,249 |
15,263,008,686 |
|
I. Current
liabilities |
20,925,112,037 |
14,453,467,249 |
15,263,008,686 |
|
1. Short-term debts and loans |
18,664,875,202 |
8,654,599,348 |
13,787,294,892 |
|
2. Payable to suppliers |
1,817,613,130 |
5,769,279,351 |
1,425,151,717 |
|
3. Advances from customers |
0 |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
435,273,705 |
23,797,140 |
49,272,077 |
|
5. Payable to employees |
0 |
0 |
0 |
|
6. Accrued expenses |
0 |
0 |
0 |
|
7. Inter-company payable |
7,350,000 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
0 |
5,791,410 |
1,290,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
11. Bonus and welfare funds |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
120,000,000 |
0 |
0 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
120,000,000 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
0 |
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 |
|
8. Unearned Revenue |
0 |
0 |
0 |
|
9. Science and technology development fund |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
11,941,397,180 |
6,578,815,647 |
5,524,009,586 |
|
I. OWNER’S
EQUITY |
11,865,897,180 |
6,578,815,647 |
5,524,009,586 |
|
1. Capital |
5,000,000,000 |
5,000,000,000 |
5,000,000,000 |
|
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 |
0 |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
2,204,157,514 |
121,962,733 |
6,247,945 |
|
10. Retained earnings |
4,661,739,666 |
1,456,852,914 |
517,761,641 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
12. Business arrangement supporting fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
75,500,000 |
0 |
0 |
|
1. Bonus and welfare funds (Elder form) |
75,500,000 |
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 |
32,986,509,217 |
21,032,282,896 |
20,787,018,272 |
|
|
|||
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
108,530,749,810 |
108,704,480,749 |
111,240,969,131 |
|
2. Deduction item |
0 |
0 |
0 |
|
3. Net revenue |
108,530,749,810 |
108,704,480,749 |
111,240,969,131 |
|
4. Costs of goods sold |
87,369,400,420 |
92,683,757,435 |
94,901,785,816 |
|
5. Gross profit |
21,161,349,390 |
16,020,723,314 |
16,339,183,315 |
|
6. Financial income |
27,496,287 |
17,971,289 |
64,030,466 |
|
7. Financial expenses |
1,796,455,459 |
1,924,196,175 |
3,016,704,937 |
|
- In which: Loan interest expenses |
0 |
1,924,196,175 |
3,016,704,937 |
|
8. Selling expenses |
13,266,737,335 |
|
|
|
9. Administrative overheads |
0 |
12,657,645,514 |
12,941,019,457 |
|
10. Net operating profit |
6,125,652,883 |
1,456,852,914 |
445,489,387 |
|
11. Other income |
90,000,000 |
0 |
0 |
|
12. Other expenses |
0 |
0 |
0 |
|
13. Other profit /(loss) |
90,000,000 |
0 |
0 |
|
14. Total accounting profit before tax |
6,215,652,883 |
1,456,852,914 |
445,489,387 |
|
15. Current corporate income tax |
1,553,913,222 |
254,949,260 |
115,381,755 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
4,661,739,661 |
1,201,903,654 |
330,107,632 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.17 |
0.84 |
1.06 |
1.94 |
|
Quick liquidity ratio |
0.64 |
0.73 |
0.97 |
0.98 |
|
Inventory circle |
13.63 |
62.54 |
69.27 |
9.29 |
|
Average receive period |
36.62 |
33.08 |
46.42 |
54.01 |
|
Utilizing asset performance |
3.29 |
5.17 |
5.35 |
2.21 |
|
Liability by total assets |
63.80 |
68.72 |
73.43 |
58.72 |
|
Liability by owner's equity |
176.24 |
219.70 |
276.30 |
256.76 |
|
Ebit / Total assets (ROA) |
18.84 |
16.08 |
16.66 |
7.90 |
|
Ebit / Owner's equity (ROE) |
52.05 |
51.39 |
62.68 |
25.68 |
|
Ebit / Total revenue (NPM) |
5.73 |
3.11 |
3.11 |
4.18 |
|
Gross profit / Total revenue (GPM) |
19.50 |
14.74 |
14.69 |
15.30 |
|
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 |
|
Normal |
|
Financial Situation |
|
Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Normal |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
Established in 2004 as a limited liability company, the subject was
granted the business registration No. 0202001845 by Hai Phong Department of
Planning and Investment with chartered capital of VND 5 billion. In 2009, the
subject's business registration was adjusted into No. 0200581746 for
coincidence with the tax code according to the new Vietnam business law. At
the end of 2010, it increased its capital to VND 9,900 million. The subject registers its head office at Cau Trung Hamlet - Quang Hung
Commune - An Lao District - Hai Phong City but all its business transactions
are performed at No. 28/292 Lach Tray Street - Le Chan District - Hai Phong
City. There are about 60 persons (both of staffs and workers) working for the
subject now. The subject now focuses on manufacturing and processing
industrial salt. It imports from India, Pakistan, Bangladesh, etc. It does
not have export activity. Its industrial salt products are supplied mainly
for factories that manufacture industrial products in Vietnam. Besides, it
also purchases salt from domestic and sells to customers under both two forms
of retail and wholesale. Financially, the subject's turnover reached over VND 111.2 billion in
2008, increased strongly compared with previous years but in 2009 and 2010 this
number was reduced. Also, according to Mr. Nguyen Van Cuong - the subject's
chief accountant, revenue in 2011 was also lower than that in 2010, main
cause of decrease in recent years is that salt price in local lessens.
However, turnover of the subject still is considered as fairly high in
comparison with other small scale companies in the field. Besides, it profit
also was relative and rose year by year. This proves that the subject’s costs
management capacity is good. In 2010, the subject's ROA, ROE and profit
ratios were much better than the average industry. This shows that although
the subject had to face with difficulties in market, its business operations
are still effective. Moreover, operation ratios also were higher compared
with the average industry reveals that the subject's property management
ability is fairly good. Nevertheless, its liquidity seems limited and its
capital structure also is not very safe. This is reflected in liquidity
indexes and debt rate of the subject. Liquidity ratios were rather low due to
the high current liabilities and the high liabilities were also the cause
that leaded to a not good debt rate although in 2010 this rate was improved
compared with previous years. This is not good signs for creditors. At the
end of 2010, the subject increased its capital from VND 5 billion to VND
9,900 million. Like this, its self-financing ability can be improved
continuously. In general, the subject is ranked as a medium scale company. Its business
activity is fairly effective. Now, it has capacity to meet small
transactions. Caution is needed for medium and big ones with the subject. |
------------ APPENDIX ----------
INDUSTRY DATA
|
||||||
|
|
||||||
|
Industry code |
Growth speed by
price compared with 1994 (%) |
Total
enterprises 2010 |
Total employees
2011 (Thous.pers.) |
Annual average
capital of enterprises 2010 (billion dongs) |
||
|
2012 |
2011 |
|||||
|
Agriculture,
Forestry and Fishing |
2.72 |
4.00 |
8,887 |
24,362.9 |
95,227 |
|
|
Industry and
Construction |
4.52 |
5.53 |
95,217 |
10,718.9 |
3,641,376 |
|
|
Trade and
Services |
6.42 |
6.69 |
187,195 |
15,270.2 |
6,957,082 |
|
|
|
||||||
ECONOMIC INDICATORS
|
||||||
|
|
||||||
|
|
2012 |
2011 |
2010 |
|||
|
Population (Million person) |
88.78 |
87.84 |
86.93 |
|||
|
Gross Domestic Products (USD
billion) |
136 |
119 |
102.2 |
|||
|
GDP Growth (%) |
5.03 |
5.89 |
6.78 |
|||
|
GDP Per Capita
(USD/person/year) |
1,540 |
1,300 |
1,160 |
|||
|
Inflation (% Change in Composite
CPI) |
9.21 |
18.58 |
11.75 |
|||
|
State Budget Deficit compared
with GDP (%) |
4.8 |
4.9 |
5.8 |
|||
|
|
||||||
SERVICE TRADE PERFORMANCE
|
||||||
|
|
||||||
|
Billion USD |
2012 |
2011 |
2010 |
|||
|
Exports |
114.6 |
96.3 |
72.2 |
|||
|
Imports |
114.3 |
105.8 |
84.8 |
|||
|
Trade Balance |
0.3 |
-9.5 |
-12.6 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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.