MIRA INFORM REPORT
|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
AROMA BEVERAGE JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
196 Street - Yen Tap Hamlet Nhan Hoa Commune, My Hao District, Hung Yen
Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
2006 |
|
|
|
|
Com. Reg. No.: |
0900251486 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
The subject specializes
in Producing and trading in beverage
& Import, export of related products |
|
|
|
|
No. of Employees : |
300 |
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 (31.03.2012) |
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 |
SUBJECT IDENTIFICATION &
LEGAL FORM
|
||
|
|
||
|
English Name |
|
AROMA BEVERAGE JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN RUOU BIA NUOC GIAI KHAT
AROMA |
|
Short name |
|
AROMA., JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2006 |
|
Business Registration No. |
|
0900251486 |
|
First Date of Registration |
|
31 May 2006 |
|
Place of Registration |
|
Department of Planning and Investment of
Hung Yen Province |
|
Chartered capital |
|
VND 30,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0900251486 |
|
Total Employees |
|
300 |
|
Size |
|
Medium |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
||
|
1 |
Subject has got former Chartered capital:
2,000,000,000 VND Changed to: 30,000,000,000 VND |
2010
|
||
|
|
||||
ADDRESSES
|
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|
|
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|
Head Office |
||||
|
Address |
|
196 Street - Yen Tap Hamlet Nhan Hoa
Commune, My Hao District, Hung Yen Province, Vietnam |
||
|
Telephone |
|
(84-321) 3974480/ 3751031 |
||
|
Fax |
|
(84-321) 3974481 |
||
|
Email |
|
|||
|
Website |
|
|||
|
Note: The exact address of the subject is as above. The given email (thamnguyen1978@gmail.com) belongs to Ms.
Tham, in charge of Import-Export Department. |
||||
|
|
||||
RELATED COMPANIES
|
||
|
|
||
|
1. PARENT
COMPANY - AROWINES JOINT STOCK COMPANY |
||
|
Business Registration |
|
0101624300 |
|
Date of Registration |
|
23 Jul 2012 |
|
Place of Registration |
|
Hanoi Department of Planning and Investment |
|
Registered Capital |
|
VND 10,000,000,000 |
|
Tax code |
|
0101624300 |
|
Address |
|
625 Kim Ma Str, Ba Dinh District, Ha Noi City, Vietnam |
|
Tel |
|
(84-4) 37666468 |
|
Fax |
|
(84-4) 37666469 |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
PHAM KINH KHA |
|
Position |
|
Director |
|
Date of Birth |
|
07 Nov 1972 |
|
ID Number/Passport |
|
011933157 |
|
ID Issue Date |
|
14 Nov 2001 |
|
ID Issue Place |
|
Ha Noi Police Station
|
|
Resident |
|
No.52 Alley 260/28 -
Group 26 - Quan Hoa Ward, Cau Giay District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
(84-4) 556 7135 / (84) 913 048 962 |
|
|
||
|
2.
NAME |
|
Ms.
HOANG THI SANG |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The subject specializes in: |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Material, machinery |
|
·
Market |
|
EU, China, India |
|
·
Mode of payment |
|
LC |
|
|
||
|
EXPORT: |
||
|
Note: Currently, the subject does not
export |
||
|
|
||
BANKERS
|
||
|
|
||
|
1.
GLOBAL PETRO COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No109 Tran Hung Dao Street, Hoan Kiem District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 37345 345 |
|
Fax |
|
(84-4) 37263 999 |
|
|
||
|
2.
HA NOI BRANCH OF HSBC BANK (VIETNAM) LTD |
||
|
Address |
|
Pacific Place, 83 B Ly Thuong Kiet Street , Hoan Kiem District, Ha Noi
City, Vietnam |
|
Telephone |
|
(84-4) 39333189 |
|
Fax |
|
(84-4) 39460207 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
AROWINES
JOINT STOCK COMPANY |
|
Business Registration |
|
0101624300 |
|
Date of Registration |
|
23 Jul 2012 |
|
Place of Registration |
|
Hanoi Department of Planning and Investment |
|
Registered Capital |
|
VND 10,000,000,000 |
|
Tax code |
|
0101624300 |
|
Address |
|
625 Kim Ma Str, Ba Dinh District, Ha Noi
City, Vietnam |
|
Tel |
|
(84-4) 37666468 |
|
Fax |
|
(84-4) 37666469 |
|
Number of shares |
|
60,000 |
|
Value of shares |
|
VND 6,000,000,000 |
|
Percentage |
|
20% |
|
|
||
|
2.
NAME |
|
Mr.
PHAM KINH KHA |
|
Position |
|
Director |
|
Date of Birth |
|
07 Nov 1972 |
|
ID Number/Passport |
|
011933157 |
|
Issued on |
|
14 Nov 2001 |
|
Issued Place |
|
Ha Noi Police Station |
|
Resident |
|
No.52 Alley 260/28 - Group 26 - Quan Hoa Ward,
Cau Giay District, Ha Noi City, Vietnam |
|
Work phone |
|
(84-4) 556 7135 |
|
Mobile phone |
|
(84) 913 048 962 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
225,000 |
|
Value of shares |
|
VND 22,500,000,000 |
|
Percentage |
|
75% |
|
|
||
|
3.
NAME |
|
Mr.
LE VAN CHUONG |
|
ID Number/Passport |
|
010162622 |
|
Resident |
|
No.5 - group 8 Thanh Cong Ward, Ba Dinh
District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
15,000 |
|
Value of shares |
|
VND 1,500,000,000 |
|
Percentage |
|
5% |
|
|
||
FINANCIAL DATA
|
|||
|
|
|||
|
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 |
68,310,000,000
|
102,981,679,122
|
31,348,964,108
|
|
I. Cash and cash
equivalents |
1,505,000,000
|
4,975,401,990
|
824,248,651
|
|
1. Cash |
1,505,000,000 |
4,975,401,990 |
824,248,651 |
|
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 |
4,847,000,000
|
6,333,895,985
|
907,170,149
|
|
1. Receivable from customers |
129,000,000 |
1,799,098,070 |
|
|
2. Prepayments to suppliers |
4,357,000,000 |
4,534,797,915 |
907,170,149 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
361,000,000 |
0 |
0 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
59,320,000,000
|
82,630,553,781
|
27,138,540,282
|
|
1. Inventories |
59,320,000,000 |
82,630,553,781 |
27,138,540,282 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
2,638,000,000
|
9,041,827,366
|
2,479,005,026
|
|
1. Short-term prepaid expenses |
0 |
2,345,436,293 |
1,629,345,263 |
|
2. VAT to be deducted |
1,592,000,000 |
6,686,794,693 |
781,831,955 |
|
3. Taxes and other accounts receivable from the State |
0 |
9,596,380 |
9,596,380 |
|
4. Other current assets |
1,046,000,000 |
0 |
58,231,428 |
|
B. LONG-TERM
ASSETS |
91,231,000,000
|
48,396,119,604
|
12,878,951,222
|
|
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
|
86,849,000,000
|
34,797,338,663
|
5,811,914,096
|
|
1. Tangible assets |
63,454,000,000 |
29,563,234,321 |
5,691,914,143 |
|
- Historical costs |
85,044,000,000 |
32,027,334,339 |
6,817,183,139 |
|
- Accumulated depreciation |
-21,590,000,000 |
-2,464,100,018 |
-1,125,268,996 |
|
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 |
23,395,000,000 |
5,234,104,342 |
119,999,953 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
0 |
10,031,980,970
|
4,968,954,143
|
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
10,031,980,970 |
4,968,954,143 |
|
3. Other long-term investments |
0 |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
4,382,000,000
|
3,566,799,971
|
2,098,082,983
|
|
1. Long-term prepaid expenses |
0 |
3,566,799,971 |
2,098,082,983 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
4,382,000,000 |
0 |
0 |
|
VI. Goodwill |
|
0 |
0 |
|
1. Goodwill |
|
0 |
0 |
|
TOTAL ASSETS |
159,541,000,000
|
151,377,798,726
|
44,227,915,330
|
|
|
|||
LIABILITIES
|
|||
|
A- LIABILITIES |
121,548,000,000
|
102,367,539,691
|
43,078,463,038
|
|
I. Current
liabilities |
54,111,000,000
|
91,734,736,591
|
43,078,463,038
|
|
1. Short-term debts and loans |
21,952,000,000 |
16,736,304,686 |
2,211,304,686 |
|
2. Payable to suppliers |
7,515,000,000 |
20,248,262,724 |
15,835,249,403 |
|
3. Advances from customers |
0 |
0 |
110,089,900 |
|
4. Taxes and other obligations to the State Budget |
22,826,000,000 |
13,790,374,238 |
1,564,156,968 |
|
5. Payable to employees |
1,751,000,000 |
729,351,679 |
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 |
0 |
|
9. Other payable |
67,000,000 |
40,230,443,264 |
23,357,662,081 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
67,437,000,000
|
10,632,803,100
|
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 |
39,832,000,000 |
0 |
0 |
|
4. Long-term debts and loans |
27,605,000,000 |
10,632,803,100 |
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 |
37,993,000,000
|
49,010,259,035
|
1,149,452,292
|
|
I. OWNER’S
EQUITY |
38,026,000,000
|
49,014,406,580
|
1,149,452,292
|
|
1. Capital |
32,804,000,000 |
50,000,000,000 |
2,000,000,000 |
|
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 |
1,821,000,000 |
0 |
0 |
|
10. Retained earnings |
3,401,000,000 |
-985,593,420 |
-850,547,708 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
12. Business arrangement supporting fund |
|
|
|
|
II. Other
sources and funds |
-33,000,000
|
-4,147,545
|
0 |
|
1. Bonus and welfare funds |
-33,000,000 |
-4,147,545 |
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 |
159,541,000,000
|
151,377,798,726
|
44,227,915,330
|
|
|
||
|
PROFIT
& LOSS STATEMENT |
||
|
|
||
|
Description |
FY2011 |
FY2010 |
|
1. Total Sales |
207,155,000,000
|
54,807,956,000
|
|
2. Deduction item |
37,052,000,000 |
17,009,365,655 |
|
3. Net revenue |
170,103,000,000
|
37,798,590,345
|
|
4. Costs of goods sold |
151,675,000,000 |
34,746,254,674 |
|
5. Gross profit |
18,428,000,000
|
3,052,335,671
|
|
6. Financial income |
54,000,000 |
26,100,548 |
|
7. Financial expenses |
7,153,000,000 |
1,088,865,220 |
|
- In which: Loan interest expenses |
0 |
|
|
8. Selling expenses |
0 |
|
|
9. Administrative overheads |
6,948,000,000 |
1,718,287,365 |
|
10. Net operating profit |
4,381,000,000
|
271,283,634
|
|
11. Other income |
326,000,000 |
141,525,455 |
|
12. Other expenses |
1,306,000,000 |
141,525,455 |
|
13. Other profit /(loss) |
-980,000,000
|
0 |
|
14. Total accounting profit before tax |
3,401,000,000
|
271,283,634
|
|
15. Current corporate income tax |
0 |
|
|
16. Deferred corporate income tax |
0 |
|
|
17. Interest from subsidiaries/related companies |
|
|
|
18. Profit after tax |
3,401,000,000
|
271,283,634
|
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average
Industry |
|
Current liquidity ratio |
1.26 |
1.12 |
0.73 |
1.70 |
|
Quick liquidity ratio |
0.17 |
0.22 |
0.10 |
1.05 |
|
Inventory circle |
2.56 |
0.63 |
- |
7.68 |
|
Average receive period |
10.40 |
61.16 |
- |
37.77 |
|
Utilizing asset performance |
1.07 |
0.25 |
- |
1.72 |
|
Liability by total assets |
76.19 |
67.62 |
97.40 |
51.74 |
|
Liability by owner's equity |
319.92 |
208.87 |
3,747.74 |
145.40 |
|
Ebit / Total assets (ROA) |
2.13 |
0.18 |
- |
14.18 |
|
Ebit / Owner's equity (ROE) |
8.95 |
0.55 |
- |
31.73 |
|
Ebit / Total revenue (NPM) |
1.64 |
0.50 |
- |
10.11 |
|
Gross profit / Total revenue (GPM) |
8.90 |
5.57 |
- |
20.29 |
|
Note: The Average Industry was calculated by VietnamCredit based
on our own statistical data |
||||
|
|
||||
PAYMENT HISTORY &
PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Normal |
|
Liquidity |
|
Low |
|
Payment status |
|
Normal |
|
Financial Situation |
|
Below Average |
|
Development trend |
|
Developing |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
LC |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Well-known |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
AROMA BEVERAGE JOINT STOCK COMPANY was founded in
2006 as a beverage manufacturing company. It was capitalized by 2 individuals
and a company named AROWINES JOINT STOCK COMPANY, which focuses on trading
imported wines. Mr. PHAM KINH KHA, subject’s director and the other
shareholder, Mr. LE VAN CHUONG also hold ownership in AROWINES JOINT STOCK
COMPANY. Besides, Mr. PHAM KINH KHA is also director of several companies in
beverage trading and manufacture field such as HUONG
VANG MIEN NAM COMPANY LIMITED, HUONG VANG NAM MIEN TRUNG COMPANY LIMITED,
AROMA ETHANOL DISTILLATION JOINT STOCK COMPANY. The subject is located at 196 Street - Yen Tap
Hamlet - Nhan Hoa Commune - My Hao District - Hung Yen Province - Vietnam. The
subject mainly engages in producing wines with brand name Men’ Vodka. The
subject imports material from India, machinery from China (the main market)
and EU. Its product is distributed in domestic market. Financial situation of Aroma was below average. As
illustrated in the bellowing chart, total sales increased rapidly year by
year from just 1.48 billion VND in 2007 to more than 200 billion VND in 2011.
However, it incurred high deduction items annually. Specifically, deduction
items took up 17.8% and 31% total sales respectively in 2010 and 2011. In
addition, due to high COGS and high financial expenses, GPM and NPM stayed
low relative to the industry average.
The inventories occupied more than 80% of current assets, which resulted in low quick ratio. Thanks to capital increase in 2010, liability over equity ratio reduced significantly, however, it remained high relative to the industry average. In general, the subject
is operating normally. Its Vodka products face competitors such as AVINAA
JOINT STOCK COMPANY, HALICO, etc and other imported Vodka. Financial
situation seems not good. The subject is reliable for small commitments. |
------------ APPENDIX
1 ----------
|
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) |
||
|
2011 |
2010 |
|||||
|
Agriculture,
Forestry and Fishing |
4.00 |
2.78 |
8,887 |
24,362.9 |
95,227 |
|
|
Industry and
Construction |
5.53 |
7.70 |
95,217 |
10,718.9 |
3,641,376 |
|
|
Trade and
Services |
6.69 |
7.52 |
187,195 |
15,270.2 |
6,957,082 |
|
|
|
||||||
|
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.53.32 |
|
UK Pound |
1 |
Rs.84.59 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.