MIRA INFORM REPORT
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Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
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Name : |
BAC THANG LONG COMPANY LIMITED |
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Registered Office : |
No. 47, |
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Country : |
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Year of Establishment : |
2003 |
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Com. Reg. No.: |
0101426482 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
trading and processing
agricultural and forest product |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Vietnam |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
Source
: CIA
Current legal status
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English Name |
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BAC THANG LONG COMPANY LIMITED |
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Vietnamese Name |
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CONG TY TNHH BAC THANG LONG |
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Short name |
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BAC THANG LONG CO., LTD |
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Type of Business |
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Limited liability company |
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Year Established |
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2003 |
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Business Registration No. |
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0101426482 |
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Date of Registration |
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26 Aug 2010 |
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Place of Registration |
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Department of Planning and Investment of
Ha Noi City |
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Current registered capital |
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17,000,000,000 VND |
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Status |
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Unlisted |
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Tax code |
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0101426482 |
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Total Employees |
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70 |
Historical Identification & Legal form
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List |
Changed Items |
Date of changes |
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1 |
Subject has got former Business
Registration No. 0102010614 Changed to: 0101426482 |
26 Aug
2010 |
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Head Office |
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Address |
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No. 47, Hang Trong Street, Hang Trong Ward
- Hoan Kiem District - Ha Noi City - Vietnam |
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Telephone |
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(84-4) 38259195 |
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Fax |
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(84-4) 39288698 |
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Factory Address |
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Address |
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Lot 38I Quang Minh Industrial Zone - Me
Linh District - Ha Noi City - Vietnam |
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Telephone |
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(84-4) 38182404 |
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1.
NAME |
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Ms.
NGUYEN THI HUE |
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Position |
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Director |
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Date of Birth |
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24 Feb 1978 |
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ID Number/Passport |
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013074633 |
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ID Issue Date |
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30 Oct 2008 |
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Current resident |
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No. 10, Alley 378/58 Thuy Khue Street Buoi
Ward - Tay Ho District - Ha Noi City - Vietnam |
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Nationality |
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Vietnamese |
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The
subject is specializing in trading and processing agricultural and forest
product. |
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EXPORT: |
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·
Types of products |
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Agricultural and forest product |
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Market |
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India, Korea, China |
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IMPORT: The subject buys material in domestic |
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1.
VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK |
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Address |
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No.70-72 Ba Trieu - Hoan Kiem District - Ha Noi City - Vietnam |
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Telephone |
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(84-4) 3944 6368 |
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Fax |
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(84-4) 3944 6362 |
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2.
HANOI BUILDING COMMERCIAL JOINT STOCK BANK VINH PHUC BRANCH |
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Address |
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No.361 Me Linh Str, Lien Bao ward - Vinh Yen City - Vinh Phuc Province
- Vietnam |
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Telephone |
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(84-211) 3710145 |
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Fax |
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(84-211) 3710146 |
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1.
NAME |
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Mr.
TRAN ANH TUAN |
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ID Number/Passport |
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B0955750 |
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Current Resident |
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No. 10, Alley 378/58, Thuy Khue Street
Buoi Ward - Tay Ho District - Ha Noi City - Vietnam |
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Value of shares |
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9,000,000,000 VND |
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Percentage |
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52.94% |
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2.
NAME |
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Ms.
NGUYEN THI HUE |
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Position |
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Director |
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Date of Birth |
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24 Feb 1978 |
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ID Number/Passport |
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013074633 |
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Issued on |
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30 Oct 2008 |
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Current Resident |
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No. 10, Alley 378/58 Thuy Khue Street Buoi
Ward - Tay Ho District - Ha Noi City - Vietnam |
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Value of shares |
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4,800,000,000 VND |
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Percentage |
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28.24% |
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3.
NAME |
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Mr.
NGUYEN DUY DAT |
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ID Number/Passport |
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125277198 |
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Resident |
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Dinh Hamlet Dinh Bang Town - Tu Son
District - Bac Ninh Province - Vietnam |
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Value of shares |
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3,200,000,000 VND |
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Percentage |
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18.82% |
We have tried best to collect financial data but it is not available
in our sources.
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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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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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D/P |
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Sale Methods |
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Wholesaler |
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Public opinion |
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Normal |
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The
subject was established in 2003 under business registration No.0102010614. In
August 2010, subject transformed business registration same tax code into No.
0101426482. Currently, subject has got registered capital VND 17 billion. Head
office of the subject is located at No. 47 Hang Trong street, Hang Trong
Ward, Hoan Kiem District, Ha Noi City. However, all operations of the subject
is performed at its factory address Lot 38I, Quang Minh Industrial Zone, Me
Linh District, Ha Noi city. Number of labors of the subject dependent on crop
and there are average 70 employees working in subject's factory. The
subject is specializing in processing and trading agriculture and forest
product such as cinnamon, star aniseed. It buys material in domestic and
export to India, Korea, China... An
interview Ms. Dao - accountant of the subject, she said: the subject often
exported to India with large orders. She also revealed that in tax report,
total sale in 2010 reached about 35 billion and profit after tax was negative
but in fact, total sale and profit after tax of the subject was higher than
those number. In
general, subject is medium company. Operations business is busy. The
development capacity in the future seems bright. Cautions are necessary with
medium and large transaction. |
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INDUSTRY DATA |
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Industry code |
Growth speed (%) |
Total employees
2009 (Thousand) |
Total
enterprises |
Annual average
capital of enterprises |
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Predict 2010 |
2009 |
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Agriculture,
Forestry and Fishing |
2.8 |
3.0 |
24,788.5 |
2,399 |
50,530 |
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Trade and
Services |
7.5 |
11 |
10,517.9 |
79,181 |
1,754,973 |
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Construction |
7 |
11.3 |
2,692.8 |
17,783 |
248,268 |
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Manufacturing |
12 |
7.6 |
7,591.2 |
30,786 |
967,068 |
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ECONOMIC
INDICATORS |
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2010 |
2009 |
2008 |
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Population (Million person) |
86.93 |
86.02 |
86.1 |
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Gross Domestic Products (US$ billion) |
102.2 |
91 |
84.9 |
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GDP Growth (%) |
6.78 |
5.32 |
6.2 |
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GDP Per Capita (US$) |
1,160 |
1,080 |
1,040 |
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Inflation (% Change in Composite CPI) |
11.75 |
6.88 |
24.4 |
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SERVICE TRADE
PERFORMANCE |
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Billion USD |
2010 |
2009 |
2008 |
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Exports |
71.6 |
56.6 |
62.9 |
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Imports |
84 |
68.8 |
76.6 |
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Trade Balance |
-12.4 |
-12.2 |
-14.6 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.88 |
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UK Pound |
1 |
Rs.83.54 |
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Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.