|
Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
JIA NON BIOTECH (VN) SHAREHOLDING COMPANY |
|
|
|
|
Registered Office : |
B05 – 2, Road III, Duc Hoa 1 Industrial Zone, Hamlet 5, Duc Hoa Dong Village, Duc Hoa District, Long An Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Incorporation : |
2004 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
The subject focuses on manufacturing and processing pesticides, environmental sanitary products and emulsifiers. |
|
|
|
|
No. of Employees : |
60 |
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 : |
Slow |
|
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) |
|
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
|
||
|
|
||
Current legal status
|
||
|
English Name |
|
JIA NON BIOTECH (VN) SHAREHOLDING COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN JIA NON BIOTECH (VN) |
|
Trade name |
|
JIA NON BIOTECH (VN) |
|
Type of Business |
|
Joint Stock Company |
|
Year Established |
|
2004 |
|
Investment Certificate No |
|
502033000023 |
|
Date Of Issuance |
|
23 Jul 2007 |
|
Place of Issuance |
|
Long An Industrial Zone Authority |
|
Registered Investment Capital |
|
USD 6,000,000 |
|
Chartered capital |
|
USD 3,500,000 |
|
Duration |
|
50 years |
|
Tax code |
|
1100653004 |
|
Total Employees |
|
60 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Investment Certificate
No: No. 22/GP-KCN-LA Changed to Investment Certificate: 502033000023 |
23
Jul 2007 |
|
2 |
Subject has got former Type of Business:
Limited Liability Company Changed to: Joint Stock Company |
N/A |
|
3 |
Subject has got former Registered English
Name: JIA NON BIOTECH (VN) COMPANY LIMITED Changed to: JIA NON BIOTECH (VN)
SHAREHOLDING COMPANY |
N/A |
|
4 |
Subject has got former Registered
Vietnamese Name: CONG TY TNHH JIA NON BIOTECH (VN) Changed to: CONG TY CO PHAN JIA NON
BIOTECH (VN) |
N/A |
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
B05 – 2, Road III, Duc Hoa 1 Industrial
Zone, Hamlet 5, Duc Hoa Dong Village, Duc Hoa District, Long An Province,
Vietnam |
|
Telephone |
|
(84-72) 3779262 / 69 / 266 |
|
Fax |
|
(84-72) 3779261 |
|
|
||
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Mr.
HSU JUNG CHUN |
|
Position |
|
General Director |
|
Date of Birth |
|
20 Sep 1952 |
|
ID Number/Passport |
|
131372913 |
|
ID Issue Date |
|
08 Mar 2001 |
|
Current resident |
|
Lot B05-2 - Road 3 Duc Hoa 1 Industrial
Zone - Hamlet 5 - Duc Hoa Dong Commune, Duc Hoa District, Long An Province,
Vietnam |
|
Nationality |
|
Taiwanese |
|
|
||
|
2.
NAME |
|
Mr.
LIANG CHIN CHI |
|
Position |
|
Former CEO |
|
Nationality |
|
Taiwanese |
|
|
||
|
3.
NAME |
|
Mr.
HO VAN HIEP |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The subject
focuses on manufacturing and processing pesticides, environmental sanitary
products and emulsifiers. |
|
|
IMPORT & EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Materials and products |
|
·
Market |
|
China, Taiwan |
|
|
||
|
EXPORT: |
||
|
Note: Currently, the subject does not export |
||
|
|
||
BANKERS
|
||
|
|
||
|
1.
MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD - HO CHI MINH BRANCH |
||
|
Address |
|
No.5B Ton Duc Thang Str, District 1, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 38225697 |
|
Fax |
|
(84-8) 38225698 |
|
|
||
|
2.
FIRST JOINT STOCK COMMERCIAL BANK LONG AN BRANCH |
||
|
Address |
|
Duc Hoa 1 Industry Zone , Duc Hoa District, Long An Province, Vietnam |
|
Telephone |
|
(84-072) 3779791 / 3779792 |
|
Fax |
|
(84-072) 3779790 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Mr.
LIANG CHIN CHI |
|
Position |
|
Former CEO |
|
Nationality |
|
Taiwanese |
|
Number of Shares |
|
120,000 |
|
Value of shares |
|
USD 75,000 |
|
|
||
|
2.
NAME |
|
Mr.
YANG YU LUNG |
|
Nationality |
|
Taiwanese |
|
Number of Shares |
|
120,000 |
|
Value of shares |
|
USD 75,000 |
|
|
||
|
3.
NAME |
|
Mr.
SU HUANG KAI |
|
Nationality |
|
Taiwanese |
|
Number of Shares |
|
120,000 |
|
Value of shares |
|
USD 75,000 |
|
|
||
|
4.
NAME |
|
Mr.
KUO YAO KUN |
|
Nationality |
|
Taiwanese |
|
Number of Shares |
|
48,000 |
|
Value of shares |
|
USD 30,000 |
|
|
||
|
5.
NAME |
|
Mr.
TSAI JUNG CHOU |
|
Nationality |
|
Taiwanese |
|
Number of Shares |
|
240,000 |
|
Value of shares |
|
USD 150,000 |
|
|
||
|
6.
NAME |
|
Mr.
SYU JHENG HUEI |
|
Nationality |
|
Taiwanese |
|
Number of Shares |
|
120,000 |
|
Value of shares |
|
USD 75,000 |
|
|
||
|
7.
NAME |
|
Mr.
HSIEH JIN HSIUNG |
|
Nationality |
|
Taiwanese |
|
Number of Shares |
|
840,000 |
|
Value of shares |
|
USD 525,000 |
|
|
||
|
8.
NAME |
|
Mr.
CHEN FU TSAI |
|
Nationality |
|
Taiwanese |
|
Number of Shares |
|
192,000 |
|
Value of shares |
|
USD 120,000 |
|
|
||
|
9.
NAME |
|
Mr.
YANG CHING HSIANG |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
120,000 |
|
Value of shares |
|
USD 75,000 |
|
|
||
|
10.
NAME |
|
Mr.
CHEN JEN HUANG |
|
Nationality |
|
Taiwanese |
|
Number of Shares |
|
480,000 |
|
Value of shares |
|
USD 300,000 |
|
|
||
|
11.
NAME |
|
OTHER
SHAREHOLDERS |
|
Number of shares |
|
3,200,000 |
|
Value of shares |
|
USD 2,000,000 |
|
|
||
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
|
165,234,453,691 |
139,773,000,000 |
|
I. Cash and cash
equivalents |
2,602,653,427 |
4,404,000,000 |
|
1. Cash |
2,602,653,427 |
4,404,000,000 |
|
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 |
60,991,911,846 |
49,712,000,000 |
|
1. Receivable from customers |
60,859,767,938 |
49,628,000,000 |
|
2. Prepayments to suppliers |
0 |
0 |
|
3. Inter-company receivable |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
|
5. Other receivable |
132,143,908 |
84,000,000 |
|
6. Provisions for bad debts |
0 |
0 |
|
IV. Inventories |
77,391,985,841 |
68,534,000,000 |
|
1. Inventories |
77,391,985,841 |
68,534,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
|
V. Other Current
Assets |
24,247,902,577 |
17,123,000,000 |
|
1. Short-term prepaid expenses |
1,530,915,551 |
1,034,000,000 |
|
2. VAT to be deducted |
1,486,258,802 |
501,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
|
4. Other current assets |
21,230,728,224 |
15,588,000,000 |
|
B. LONG-TERM
ASSETS |
17,420,531,999 |
18,085,000,000 |
|
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
|
11,066,191,972 |
11,662,000,000 |
|
1. Tangible assets |
11,040,570,116 |
11,630,000,000 |
|
- Historical costs |
20,564,100,601 |
19,794,000,000 |
|
- Accumulated depreciation |
-9,523,530,485 |
-8,164,000,000 |
|
2. Financial leasehold assets |
0 |
32,000,000 |
|
- Historical costs |
0 |
56,000,000 |
|
- Accumulated depreciation |
0 |
-24,000,000 |
|
3. Intangible assets |
25,621,856 |
0 |
|
- Initial costs |
55,844,324 |
0 |
|
- Accumulated amortization |
-30,222,468 |
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 |
6,354,340,027 |
6,423,000,000 |
|
1. Long-term prepaid expenses |
6,354,340,027 |
6,423,000,000 |
|
2. Deferred income tax assets |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
|
1. Goodwill |
|
0 |
|
TOTAL ASSETS |
182,654,985,690 |
157,858,000,000 |
|
|
||
LIABILITIES
|
||
|
A- LIABILITIES |
120,247,572,066 |
93,290,000,000 |
|
I. Current
liabilities |
120,247,572,066 |
93,290,000,000 |
|
1. Short-term debts and loans |
73,433,627,589 |
52,157,000,000 |
|
2. Payable to suppliers |
44,471,349,050 |
39,442,000,000 |
|
3. Advances from customers |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
1,433,265,737 |
915,000,000 |
|
5. Payable to employees |
417,004,100 |
436,000,000 |
|
6. Accrued expenses |
158,519,900 |
0 |
|
7. Inter-company payable |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
|
9. Other payable |
333,805,690 |
340,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
|
11. Bonus and welfare funds |
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 |
|
8. Unearned Revenue |
|
|
|
9. Science and technology development fund |
|
|
|
B- OWNER’S
EQUITY |
62,407,413,624 |
64,568,000,000 |
|
I. OWNER’S
EQUITY |
62,407,413,624 |
64,568,000,000 |
|
1. Capital |
56,344,450,837 |
56,344,000,000 |
|
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 |
72,867,403 |
-495,000,000 |
|
7. Business promotion fund |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
|
9. Other funds |
0 |
0 |
|
10. Retained earnings |
5,990,095,384 |
8,719,000,000 |
|
11. Construction investment fund |
0 |
0 |
|
12. Business arrangement supporting fund |
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 |
182,654,985,690 |
157,858,000,000 |
|
|
||
|
PROFIT
& LOSS STATEMENT |
||
|
|
||
|
Description |
FY2011 |
FY2010 |
|
1. Total Sales |
175,001,311,819 |
149,145,000,000 |
|
2. Deduction item |
3,321,473,349 |
3,794,000,000 |
|
3. Net revenue |
171,679,838,470 |
145,351,000,000 |
|
4. Costs of goods sold |
136,704,353,769 |
113,971,000,000 |
|
5. Gross profit |
34,975,484,701 |
31,380,000,000 |
|
6. Financial income |
1,224,019,363 |
1,109,000,000 |
|
7. Financial expenses |
12,547,516,695 |
10,223,000,000 |
|
- In which: Loan interest expenses |
5,542,109,237 |
3,023,000,000 |
|
8. Selling expenses |
8,511,520,103 |
6,226,000,000 |
|
9. Administrative overheads |
10,162,506,131 |
7,382,000,000 |
|
10. Net operating profit |
4,977,961,135 |
8,658,000,000 |
|
11. Other income |
61,332,457 |
0 |
|
12. Other expenses |
77,899,209 |
13,000,000 |
|
13. Other profit /(loss) |
-16,566,752 |
-13,000,000 |
|
14. Total accounting profit before tax |
4,961,394,383 |
8,645,000,000 |
|
15. Current corporate income tax |
271,603,239 |
651,000,000 |
|
16. Deferred corporate income tax |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
|
18. Profit after tax |
4,689,791,144 |
7,994,000,000 |
|
|
|||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
Average Industry |
|
Current liquidity ratio |
1.37 |
1.50 |
1.72 |
|
Quick liquidity ratio |
0.73 |
0.76 |
1.06 |
|
Inventory circle |
1.77 |
1.66 |
13.62 |
|
Average receive period |
129.67 |
124.83 |
78.59 |
|
Utilizing asset performance |
0.94 |
0.92 |
1.55 |
|
Liability by total assets |
65.83 |
59.10 |
52.62 |
|
Liability by owner's equity |
192.68 |
144.48 |
163.63 |
|
Ebit / Total assets (ROA) |
5.75 |
7.39 |
13.16 |
|
Ebit / Owner's equity (ROE) |
16.83 |
18.07 |
29.85 |
|
Ebit / Total revenue (NPM) |
6.00 |
7.82 |
7.13 |
|
Gross profit / Total revenue (GPM) |
19.99 |
21.04 |
19.87 |
|
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 |
|
Normal |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
T/T |
|
Sale Methods |
|
Retailer and Wholesaler |
|
|
INTERPRETATION ON THE SCORES
|
|
|
|
The company was established in 2004 with name Jia
Non Bio Tech (VN) Company Limited with the investment license No.
22/GP-KCN-LA. In Jul 2007, the investment Certificate Number was changed to No.
502033000023. Now, the investment capital of it is US$6 million and the
charted capital is US$3.5 million. The head office and factory of the subject
are located at Duc Hoa 1 Industrial Zone, Hamlet 5, Duc Hoa Dong Village, Duc
Hoa Dist., Long An Province. The subject focuses on manufacturing and processing pesticides, environmental sanitary products and emulsifiers. The material is imported from China and Taiwan. The payment method is T/T. In 2011, the subject gained over 175 billion VND
revenue. However, expenses and administrative overhead were high, especially
financial expenses; therefore, the amount of profit after tax recorded was
humble. In debt structure, the firm used mainly current
liabilities and did not used long-term debts. Besides using short-term
borrowing, the subject also took advantages capital from its suppliers.
Profitability indicators were not as good as average level in the industry
because the firm did not controlled the expenses and costs well. In comparison with other
companies in this field, the subject is small company. Although the subject
must face to a lot of difficulties, scale of the subject is widened. It has
about 60 employees now. In general, the subject has capacity to meet small
financial commitments |
------------ 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) |
||
|
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.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
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.