|
Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GREEN TECH VIETNAM JOINT STOCK
COMPANY |
|
|
|
|
Registered Office : |
Hamlet 1, An Tay Commune, Ben Cat District, Binh Duong
Province, Vietnam |
|
|
|
|
Country : |
Viet Nam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
2003 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacturing, processing
leather, imitation leather for producing shoes, sandal, and bags for export. |
|
|
|
|
No. of Employees : |
300 |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Viet Nam |
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
|
||
|
English Name |
|
GREEN TECH VIETNAM JOINT STOCK
COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN GREEN TECH
VIET NAM |
|
Trade name |
|
GREEN TECH VIETNAM JOINT STOCK
COMPANY |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2003 |
|
Investment Certificate No |
|
461033000109 |
|
Date Of Issuance |
|
18 May 2007 |
|
Place of Issuance |
|
People's Comittee of Ho Chi
Minh City |
|
Registered Investment Capital |
|
USD 12,613,000 |
|
Chartered capital |
|
USD 6,266,515 |
|
Investment Duration |
|
50 years |
|
Tax code |
|
3700525456 |
|
Total Employees |
|
300 |
Historical Identification &
Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered
English Name: GREEN TECH VIETNAM COMPANY LIMITED Changed to: GREEN TECH VIETNAM
JOINT STOCK COMPANY |
18 May 2007 |
|
2 |
Subject has got former
Registered Vietnamese Name: CONG TY TNHH GREEN TECH VIETNAM Changed to: CONG TY CO PHAN GREEN
TECH VIETNAM |
18 May 2007 |
|
3 |
Subject has got former
Business line: Limited liability company Changed to: Joint Stock
Company |
18 May 2007 |
|
4 |
Subject has got former Business
Registration No: No. 286/GP-BD which was issued on September 10th, 2004 Changed to: No. 461033000109 |
18 May 2007 |
|
|
|
|
||
|
Head
Office |
||
|
Address |
|
Hamlet 1, An Tay Commune, Ben
Cat District, Binh Duong Province, Vietnam |
|
Telephone |
|
84-650) 3580 800 – 3580 801 –
3580 802 – 3580 803 – 3580 804 – 3580 805 – 3580 806 |
|
Fax |
|
(84-650) 3580808 |
|
Email |
|
|
|
Note: the
given tel “ 84-650-358080006” is incorrect |
||
|
|
||
|
|
||
|
1. NAME |
|
Mr. JEONG JAN TAE |
|
Position |
|
Chairman |
|
Nationality |
|
Korean |
|
|
||
|
2. NAME |
|
Mr. BAE HYO JO |
|
Position |
|
General Director |
|
Nationality |
|
Korean |
|
|
||
|
3. NAME |
|
Mr. HUYNH DONG PHONG |
|
Position |
|
Sales Manager |
|
Nationality |
|
Vietnamses |
|
|
||
|
4. NAME |
|
Ms. PHAN THI LINH PHUONG |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
|
|
The subject registers and operates in
the following business activities: |
|
|
||
|
IMPORT:
|
||
|
·
Types of products |
|
Leather products |
|
·
Market |
|
Taiwan, Korea, Bangladesh, China, India, Japan |
|
|
||
|
EXPORT:
|
||
|
·
Types of products |
|
Chemicals, Leather products |
|
·
Market |
|
Korea, Malaysia, China, Indonesia |
|
|
||
|
1. JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM BINH
DUONG BRANCH |
||
|
Address |
|
No 72 Phu Hoa ward, Thu Dau Mot City, Binh Duong Province,
Vietnam |
|
Telephone |
|
(84-650) 3898 989 |
|
Fax |
|
(84-650) 3831 220 |
|
|
||
|
2. KEXIM VIETNAM LEASING COMPANY LIMITED |
||
|
Address |
|
Flr 9, Diamond Plaza, No.34 Le Duan Str, District 1, Ho
Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3825 7000 |
|
Fax |
|
(84-8) 3823 0854 |
|
|
||
|
3. SHINHANVINA JOINT VENTURE BANK HO CHI MINH BRANCH |
||
|
Address |
|
41 Nguyen Thi Minh Khai, District 1, Ho Chi Minh City,
Vietnam |
|
Telephone |
|
(84-8) 3823 0012 |
|
Fax |
|
(84-8) 3829 9386 |
|
|
||
|
|
|||
|
1. NAME |
|
Mr. JEONG JAN TAE |
|
|
Position |
|
Chairman |
|
|
Nationality |
|
Korean |
|
|
Percentage |
|
52.08% |
|
|
|
|||
|
2. NAME |
|
Mr. HAN MYENG JIN |
|
|
Nationality |
|
Korean |
|
|
Percentage |
|
23.96% |
|
|
|
|||
|
3. NAME |
|
Mr. KIM ME AE |
|
|
Nationality |
|
Korean |
|
|
Percentage |
|
23.96% |
|
|
|
|||
|
|
|||
|
BALANCE SHEET |
|||
Unit:
One VND
|
|||
|
Balance
sheet date |
31/12/2011
|
31/12/2010
|
31/12/2009
|
|
Number of weeks |
52 |
52 |
52 |
ASSETS
|
|||
|
A –
CURRENT ASSETS |
188,011,000,000
|
167,486,000,000
|
149,271,000,000
|
|
I.
Cash and cash equivalents |
144,000,000
|
1,983,000,000
|
1,616,000,000
|
|
1. Cash |
144,000,000 |
1,983,000,000 |
1,616,000,000 |
|
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 |
23,964,000,000
|
18,574,000,000
|
25,997,000,000
|
|
1. Receivable from customers |
22,979,000,000 |
17,064,000,000 |
23,784,000,000 |
|
2. Prepayments to suppliers |
1,218,000,000 |
1,743,000,000 |
2,445,000,000 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
0 |
0 |
1,000,000 |
|
6. Provisions for bad debts |
-233,000,000 |
-233,000,000 |
-233,000,000 |
|
IV.
Inventories |
160,203,000,000
|
142,034,000,000
|
116,838,000,000
|
|
1. Inventories |
160,203,000,000 |
142,034,000,000 |
116,838,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V.
Other Current Assets |
3,700,000,000
|
4,895,000,000
|
4,820,000,000
|
|
1. Short-term prepaid expenses |
36,000,000 |
523,000,000 |
492,000,000 |
|
2. VAT to be deducted |
737,000,000 |
1,397,000,000 |
1,094,000,000 |
|
3. Taxes and other accounts receivable from the State |
31,000,000 |
19,000,000 |
201,000,000 |
|
4. Other current assets |
2,896,000,000 |
2,956,000,000 |
3,033,000,000 |
|
B.
LONG-TERM ASSETS |
45,219,000,000
|
53,376,000,000
|
60,197,000,000
|
|
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 |
42,602,000,000
|
52,150,000,000
|
58,882,000,000
|
|
1. Tangible assets |
37,395,000,000 |
47,117,000,000 |
52,835,000,000 |
|
- Historical costs |
111,390,000,000 |
111,515,000,000 |
107,422,000,000 |
|
- Accumulated depreciation |
-73,995,000,000 |
-64,398,000,000 |
-54,587,000,000 |
|
2. Financial leasehold assets |
0 |
-307,000,000 |
573,000,000 |
|
- Historical costs |
0 |
0 |
800,000,000 |
|
- Accumulated depreciation |
0 |
-307,000,000 |
-227,000,000 |
|
3. Intangible assets |
5,207,000,000 |
5,340,000,000 |
5,474,000,000 |
|
- Initial costs |
6,675,000,000 |
6,676,000,000 |
6,677,000,000 |
|
- Accumulated amortization |
-1,468,000,000 |
-1,336,000,000 |
-1,203,000,000 |
|
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 |
2,617,000,000
|
1,226,000,000
|
1,315,000,000
|
|
1. Long-term prepaid expenses |
2,467,000,000 |
1,076,000,000 |
1,078,000,000 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
150,000,000 |
150,000,000 |
237,000,000 |
|
VI. Goodwill
|
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL
ASSETS |
233,230,000,000
|
220,862,000,000
|
209,468,000,000
|
|
|
|||
LIABILITIES
|
|||
|
A-
LIABILITIES |
141,551,000,000
|
128,866,000,000
|
119,763,000,000
|
|
I.
Current liabilities |
141,273,000,000
|
128,866,000,000
|
119,763,000,000
|
|
1. Short-term debts and loans |
59,763,000,000 |
53,222,000,000 |
48,364,000,000 |
|
2. Payable to suppliers |
54,031,000,000 |
54,055,000,000 |
54,076,000,000 |
|
3. Advances from customers |
22,128,000,000 |
18,355,000,000 |
14,594,000,000 |
|
4. Taxes and other obligations to the State Budget |
49,000,000 |
168,000,000 |
60,000,000 |
|
5. Payable to employees |
1,674,000,000 |
1,031,000,000 |
1,083,000,000 |
|
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 |
3,628,000,000 |
2,035,000,000 |
1,586,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
11. Bonus and welfare funds |
0 |
|
|
|
II.
Long-Term Liabilities |
278,000,000
|
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 |
278,000,000 |
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 |
|
8. Unearned Revenue |
0 |
|
|
|
9. Science and technology development fund |
0 |
|
|
|
B-
OWNER’S EQUITY |
91,679,000,000
|
91,996,000,000
|
89,705,000,000
|
|
I. OWNER’S
EQUITY |
91,679,000,000
|
91,996,000,000
|
89,705,000,000
|
|
1. Capital |
82,541,000,000 |
82,541,000,000 |
82,541,000,000 |
|
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 |
0 |
0 |
0 |
|
10. Retained earnings |
9,138,000,000 |
9,455,000,000 |
7,164,000,000 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
12. Business arrangement supporting fund |
0 |
|
|
|
II.
Other sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds (Elder form) |
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 |
233,230,000,000
|
220,862,000,000
|
209,468,000,000
|
|
|
|||
|
PROFIT & LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
270,236,000,000
|
220,174,000,000
|
232,112,000,000
|
|
2. Deduction item |
0 |
0 |
29,000,000 |
|
3. Net revenue |
270,236,000,000
|
220,174,000,000
|
232,083,000,000
|
|
4. Costs of goods sold |
241,141,000,000 |
197,628,000,000 |
219,478,000,000 |
|
5. Gross profit |
29,095,000,000
|
22,546,000,000
|
12,605,000,000
|
|
6. Financial income |
372,000,000 |
2,699,000,000 |
4,919,000,000 |
|
7. Financial expenses |
13,778,000,000 |
8,124,000,000 |
9,157,000,000 |
|
- In which: Loan interest expenses |
4,322,000,000 |
3,704,000,000 |
2,757,000,000 |
|
8. Selling expenses |
5,117,000,000 |
4,289,000,000 |
3,442,000,000 |
|
9. Administrative overheads |
10,498,000,000 |
10,603,000,000 |
11,537,000,000 |
|
10. Net operating profit |
74,000,000
|
2,229,000,000
|
-6,612,000,000
|
|
11. Other income |
4,000,000 |
308,000,000 |
160,000,000 |
|
12. Other expenses |
160,000,000 |
123,000,000 |
375,000,000 |
|
13. Other profit /(loss) |
-156,000,000
|
185,000,000
|
-215,000,000
|
|
14. Total accounting profit before tax |
-82,000,000
|
2,414,000,000
|
-6,827,000,000
|
|
15. Current corporate income tax |
0 |
123,000,000 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
-82,000,000
|
2,291,000,000
|
-6,827,000,000
|
|
|
||||
|
FINANCIAL
RATIOS AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011
|
FY2010
|
FY2009
|
Average
Industry |
|
Current liquidity ratio |
1.33 |
1.30 |
1.25 |
1.22 |
|
Quick liquidity ratio |
0.20 |
0.20 |
0.27 |
0.91 |
|
Inventory circle |
1.51 |
1.53 |
1.88 |
11.97 |
|
Average receive period |
32.37 |
30.79 |
40.89 |
137.12 |
|
Utilizing asset performance |
1.16 |
1.00 |
1.11 |
1.09 |
|
Liability by total assets |
60.69 |
58.35 |
57.17 |
58.32 |
|
Liability by owner's equity |
154.40 |
140.08 |
133.51 |
169.46 |
|
Ebit / Total assets (ROA) |
1.82 |
2.77 |
-1.94 |
5.93 |
|
Ebit / Owner's equity (ROE) |
4.62 |
6.65 |
-4.54 |
21.06 |
|
Ebit / Total revenue (NPM) |
1.57 |
2.78 |
-1.75 |
5.12 |
|
Gross profit / Total revenue (GPM) |
10.77 |
10.24 |
5.43 |
13.95 |
|
Note: The Average Industry was calculated by VietnamCredit
based on our own statistical data |
||||
|
|
||||
PAYMENT HISTORY &
PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Medium |
|
Payment status |
|
Above average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Even |
|
Litigation data |
|
No |
|
Bankruptcy |
|
No |
|
Payment Methods |
|
Direct payment or through its corresponding bank, L/C, T/T |
|
Sale Methods |
|
Other |
|
|
|
The subject - GREEN TECH VIETNAM JOINT STOCK COMPANY is a foreign invested company. Being
founded in 2003 as a liability limited company belonged to Yujin Industrial
Co., Ltd of Korea, the subject has just changed to Joint Stock company in
2007. The subject is located at Hamlet 1, An Tay
Commune, Ben Cat District, Binh Duong Province, Vietnam. The subject specializes in the production
and processing finished leather, safety working clothing, glove, and shoes.
The subject’s products include cow split suede leather, PU coated leather, PU
coated furniture leather, PU coated synthetic leather worker glove, welding
glove, welding jacket & pants. The subject’s products are supplied in
domestic mainly. Additon, the subject also exports to Korea, Malaysia,
China, Indonesia. The subject imports
materials (chemicals and leather material for production) from Taiwan,
Korea, Bangladesh, China, India, Japan According to the financial statement, business acitivities were not
stable. Turnover of subject increased in recent years but profit after tax
was not good. Because, its cost of goods sold was high. Quick liquidity ratio
of subject was much lower than average industry. So its solvency was not
high. Debt to equity ratio was fairly good so its structure capital was quite
safe. In general, the subject operates normally in medium scale with over 300
staff. The future prospect seems bright. In our opinion, the subject has
capacity to meet all small-normal transactions. |
|
|
|
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.54.38 |
|
|
1 |
Rs.82.04 |
|
Euro |
1 |
Rs.69.58 |
INFORMATION DETAILS
|
Report Prepared by
: |
PDT |
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.