|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
HOANG KIM CO., LTD |
|
|
|
|
Registered Office : |
No.383 To Hien Thanh Street, Ward 14, District 10, Ho Chi Minh City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Incorporation : |
2001 |
|
|
|
|
Com. Reg. No.: |
0302488753 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
The subject is specializing in distributing and trading equipment and medical instrument. |
|
|
|
|
No. of Employees : |
45 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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
|
||
|
|
||
|
Registered English Name |
|
HOANG KIM CO., LTD |
|
Registered Vietnamese Name |
|
CONG TY TNHH TRANG THIET BI Y TE HOANG KIM
|
|
Registered Short name |
|
HK CO., LTD |
|
Type of Business |
|
Limited liability company |
|
Year Established |
|
2001 |
|
Business Registration No. |
|
0302488753 |
|
Date of Registration |
|
26 Dec 2001 |
|
Date of latest adjustment (6th) |
|
28 Feb 2011 |
|
Place of Registration |
|
Business registration office - Planning
and Investment Department of Hochiminh City |
|
Chartered capital |
|
VND 4,000,000,000 |
|
Tax code |
|
0302488753 |
|
Total Employees |
|
45 |
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
No.383 To Hien Thanh Street, Ward 14,
District 10, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3866 5909 - 3866 3920 |
|
Fax |
|
(84-8) 3864 9581 |
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
T4 Hong Linh, Bac Hai Housing Compound,
Ward 15, District 10, Ho Chi Minh City, Vietnam |
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
Lot 102, No.334 To Hien Thanh Street, Ward
14, 10 District, Ho Chi Minh City, Vietnam |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mrs.
DO THI KIM CO |
|
Position |
|
Director – Legal representative |
|
Date of Birth |
|
01 Mar 1957 |
|
ID Number/Passport |
|
022202021 |
|
ID Issue Date |
|
04 Jun 1996 |
|
ID Issue Place |
|
Police station of
Hochiminh City |
|
Resident |
|
X9 To Hien Thanh
Street, Ward 14, District 10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Managing |
|
|
||
|
2.
NAME |
|
Mrs.
TRUONG DO THU HIEN |
|
Position |
|
Deputy Director |
|
Current resident |
|
Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
+ 84 903 638 074 |
|
Qualification |
|
Managing |
|
|
||
|
3.
NAME |
|
Mr.
LY VAN NO |
|
Position |
|
Chief Accountant |
|
Current resident |
|
Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Bachelor |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The subject
is specializing in distributing and trading equipment and medical instrument. |
|
|
|
IMPORT & EXPORT ACTIVITIES |
||
|
|
||
|
IMPORT: |
||
|
·
Market |
|
Malaysia, Indonesia and China |
|
|
||
|
EXPORT: N/A |
||
|
·
Market |
|
N/A |
|
|
||
BANKERS
|
||
|
|
||
|
1.
ASIA COMMERCIAL BANK PHU THO BRANCH |
||
|
Address |
|
No.455 To Hien Thanh Street, District 10, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3863 8467 |
|
Fax |
|
(84-8) 3863 8466 |
|
|
||
|
2.
SAIGON THUONG TIN COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No. 335 – 337 Nguyen Tri Phuong Street, Ward 5, District 10, Ho Chi
Minh City, Vietnam |
|
Telephone |
|
(84-8) 3834 7458 |
|
Fax |
|
(84-8) 3834 5043 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Mrs.
DO THI KIM CO |
|
Position |
|
Director |
|
Date of Birth |
|
01 Mar 1957 |
|
ID Number/Passport |
|
022202021 |
|
Issued on |
|
04 Jun 1996 |
|
Issued Place |
|
Police station of Hochiminh City |
|
Resident |
|
X9 To Hien Thanh Street, Ward 14, District
10, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 3,962,000,000 |
|
Percentage |
|
99.5% |
|
|
||
|
2.
NAME |
|
Mr.
HOANG QUOC LAP |
|
ID Number/Passport |
|
023667275 |
|
Resident |
|
No. 59 Luong Nhu Hoc Street, Ward 10,
District 5, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 38,000,000 |
|
Percentage |
|
0.95% |
|
|
||
FINANCIAL DATA
|
||
|
|
||
|
BALANCE
SHEET |
||
Unit: One
VND
|
||
|
Balance sheet
date |
31/12/2011 |
31/12/2010 |
|
Number of weeks |
52 |
52 |
ASSETS
|
||
|
A – CURRENT
ASSETS |
33,443,964,152 |
33,719,259,712 |
|
I. Cash and cash
equivalents |
3,385,526,788 |
2,283,976,074 |
|
1. Cash |
3,385,526,788 |
2,283,976,074 |
|
2. Cash equivalents |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
|
III. Accounts
receivable |
6,048,712,470 |
7,944,401,737 |
|
1. Receivable from customers |
2,942,478,694 |
7,936,893,969 |
|
2. Prepayments to suppliers |
3,098,726,008 |
0 |
|
3. Inter-company receivable |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
|
5. Other receivable |
7,507,768 |
7,507,768 |
|
6. Provisions for bad debts |
0 |
0 |
|
IV. Inventories |
23,661,475,553 |
22,728,079,154 |
|
1. Inventories |
23,661,475,553 |
22,728,079,154 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
|
V. Other Current
Assets |
348,249,341 |
762,802,747 |
|
1. Short-term prepaid expenses |
53,742,824 |
53,742,824 |
|
2. VAT to be deducted |
69,627,463 |
484,180,869 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
|
4. Other current assets |
224,879,054 |
224,879,054 |
|
B. LONG-TERM
ASSETS |
486,894,743 |
164,482,290 |
|
I. Long term
accounts receivable |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
|
4. Other long-term receivable |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
|
II. Fixed assets
|
457,863,015 |
135,450,562 |
|
1. Tangible assets |
457,863,015 |
135,450,562 |
|
- Historical costs |
597,780,043 |
217,780,043 |
|
- Accumulated depreciation |
-139,917,028 |
-82,329,481 |
|
2. Financial leasehold assets |
0 |
0 |
|
- Historical costs |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
|
- Initial costs |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
|
4. Construction-in-progress |
0 |
0 |
|
III. Investment property
|
0 |
0 |
|
Historical costs |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
|
IV. Long-term
investments |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
|
V. Other
long-term assets |
29,031,728 |
29,031,728 |
|
1. Long-term prepaid expenses |
29,031,728 |
29,031,728 |
|
2. Deferred income tax assets |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
|
1. Goodwill |
0 |
0 |
|
TOTAL ASSETS |
33,930,858,895 |
33,883,742,002 |
|
|
||
LIABILITIES
|
||
|
A- LIABILITIES |
26,833,084,220 |
27,744,833,726 |
|
I. Current
liabilities |
26,833,084,220 |
27,744,833,726 |
|
1. Short-term debts and loans |
2,000,000,000 |
2,000,000,000 |
|
2. Payable to suppliers |
0 |
3,790,140,695 |
|
3. Advances from customers |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
251,577,334 |
264,627,310 |
|
5. Payable to employees |
-4 |
18,166,621 |
|
6. Accrued expenses |
0 |
0 |
|
7. Inter-company payable |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
|
9. Other payable |
24,581,506,890 |
21,671,899,100 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
|
11. Bonus and welfare funds |
0 |
0 |
|
II. Long-Term Liabilities
|
0 |
0 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
|
4. Long-term debts and loans |
0 |
0 |
|
5. Deferred income tax payable |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
|
8. Unearned Revenue |
0 |
0 |
|
9. Science and technology development fund |
0 |
0 |
|
B- OWNER’S
EQUITY |
7,097,774,675 |
6,138,908,276 |
|
I. OWNER’S
EQUITY |
7,097,774,675 |
6,138,908,276 |
|
1. Capital |
4,000,000,000 |
4,000,000,000 |
|
2. Share premiums |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
|
9. Other funds |
0 |
0 |
|
10. Retained earnings |
3,097,774,675 |
2,138,908,276 |
|
11. Construction investment fund |
0 |
0 |
|
12. Business arrangement supporting fund |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
|
1. Bonus and welfare funds (Elder form) |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
33,930,858,895 |
33,883,742,002 |
|
|
||
|
PROFIT
& LOSS STATEMENT |
||
|
|
||
|
Description |
FY2011 |
FY2010 |
|
1. Total Sales |
56,939,818,675 |
39,763,981,313 |
|
2. Deduction item |
99,163,472 |
63,821,300 |
|
3. Net revenue |
56,840,655,203 |
39,700,160,013 |
|
4. Costs of goods sold |
53,105,663,734 |
37,146,118,384 |
|
5. Gross profit |
3,734,991,469 |
2,554,041,629 |
|
6. Financial income |
32,961,579 |
36,042,658 |
|
7. Financial expenses |
1,355,823,404 |
706,780,719 |
|
- In which: Loan interest expenses |
1,050,631,749 |
|
|
8. Selling expenses |
424,498,126 |
171,678,265 |
|
9. Administrative overheads |
937,254,317 |
662,445,110 |
|
10. Net operating profit |
1,050,377,201 |
1,049,180,193 |
|
11. Other income |
133,217,228 |
179,859,734 |
|
12. Other expenses |
12,405,832 |
28,430,300 |
|
13. Other profit /(loss) |
120,811,396 |
151,429,434 |
|
14. Total accounting profit before tax |
1,171,188,597 |
1,200,609,627 |
|
15. Current corporate income tax |
203,395,902 |
307,259,982 |
|
16. Deferred corporate income tax |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
|
18. Profit after tax |
967,792,695 |
893,349,645 |
|
|
|||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
Average Industry |
|
Current liquidity ratio |
1.25 |
1.22 |
1.74 |
|
Quick liquidity ratio |
0.36 |
0.40 |
0.95 |
|
Inventory circle |
2.29 |
1.63 |
5.39 |
|
Average receive period |
38.84 |
73.04 |
100.84 |
|
Utilizing asset performance |
1.68 |
1.17 |
1.64 |
|
Liability by total assets |
79.08 |
81.88 |
60.51 |
|
Liability by owner's equity |
378.05 |
451.95 |
309.92 |
|
Ebit / Total assets (ROA) |
6.55 |
3.54 |
9.59 |
|
Ebit / Owner's equity (ROE) |
31.30 |
19.56 |
28.73 |
|
Ebit / Total revenue (NPM) |
3.90 |
3.02 |
7.66 |
|
Gross profit / Total revenue (GPM) |
6.56 |
6.42 |
22.62 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
|||
|
|
||
|
CASH
FLOW STATEMENT |
||
|
(Direct method) |
||
|
Items |
FY2011 |
FY2010 |
|
I. Cash flows
from operating activities |
||
|
1.Cash received from customers |
77,070,266,081 |
43,876,580,709 |
|
2. Cash paid to suppliers |
-75,848,149,759 |
-57,779,463,003 |
|
3. Cash paid to employees |
-595,601,308 |
-199,832,879 |
|
4. Interest paid |
-1,050,631,749 |
|
|
5. Income taxes paid |
-219,226,558 |
-218,344,342 |
|
6. Other operating cash receipts |
|
|
|
7. Other operating payments |
-1,723,051,244 |
-2,082,486,451 |
|
Net cash flows from operating activities |
-2,366,394,537 |
-16,403,545,966 |
|
II. Cash flows
from investing activities |
||
|
1. Purchases and construction of fixed assets and other long-term
assets |
-380,000,000 |
-14,545,455 |
|
2. Gains from disposals and liquidation of fixed assets and other
long-term assets |
|
|
|
3. Loans given and purchases of debt instruments of other entities |
|
|
|
4. Recovery of loans given and disposals of debt instruments of other
entities |
|
|
|
5. Investments into other entities |
|
|
|
6. Withdrawals of investments in other entities |
|
|
|
7. Receipts of loan interests, dividends and profit shared |
20,031,251 |
20,332,544 |
|
Net cash flows from investing activities |
-359,968,749 |
5,787,089 |
|
III. Cash flows
from financing activities |
||
|
1. Gains from stock issuance and capital contributions from
shareholders |
|
|
|
2. Repayment for capital contributions and re-purchases of stocks
already issues |
|
|
|
3. Short-term and long-term loans received |
13,800,000,000 |
13,650,000,000 |
|
4. Loan principal amounts repaid |
-10,900,000,000 |
-3,896,200 |
|
5. Payments for financial leasehold assets |
|
|
|
6. Dividends and profit already paid to the owners |
|
|
|
Net cash flows from financing activities |
2,900,000,000 |
13,646,103,800 |
|
Net cash flows during the year |
173,636,714 |
-2,751,655,077 |
|
Beginning cash and cash equivalents |
2,283,976,074 |
4,252,421,151 |
|
Effects of fluctuations in foreign exchange rates |
|
|
|
Ending cash and cash equivalents |
2,457,612,788 |
1,500,766,074 |
PAYMENT HISTORY &
PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Low |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Recorded |
|
Bankruptcy |
|
No Recorded |
|
Payment Methods |
|
through by bank |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Normal |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
The subject – HOANG KIM CO., LTD was established since 2001. At
present, the subject is operating under business registration no. 0302488753 (the
same with tax code) with chartered capital VND 4 billion. The subject is specializing in distributing and trading equipment and
medical instruments. The subject imports goods from Malaysia, Indonesia and
Thailand. Its main market is in Hochiminh city and neighbouring province. Its
competitiveness is fair. Premises and facilities of the subject are fair. Head office of the
subject is locating at no. 383 To Hien Thanh Street, Ward 14, District 10,
Hochiminh City. This location is equipment and medical center in Hochiminh
City so it is advantage for its business activities. Besides, the subject has
two branches in District 10, Hochiminh City. Management capacity of the subject is acceptable. Operation about 12
years, the subject has traditional customers in industry. The subject’s
director – Mrs. Do Thi Kim Co has experiences over 20 years in this field.
Formerly, she had worked at Cong Ty TNHH Trang Thiet Bi Y Te Thanh Pho Ho Chi
Minh. By visited to head office of the subject, its business activities are
now busy. Its market share is stable. As reported financial data, its
business situation is effectively. However, its financial capacity is normal.
In our opinion, the subject has capacity to meet small transactions. |
------------ 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.54.62 |
|
|
1 |
Rs.83.69 |
|
Euro |
1 |
Rs.71.41 |
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.