MIRA INFORM REPORT

 

 

Report Date :

05.01.2013

 

IDENTIFICATION DETAILS

 

Name :

INDUSTRIAL MECANO IMPORT-EXPORT SRL

 

 

Registered Office :

Str. Mitropolit Veniamin Costache nr. 22, Bucuresti, 050192, Sector 4

 

 

Country :

Romania

 

 

Financials (as on) :

30.06.2012

 

 

Date of Incorporation :

04.03.2004

 

 

Com. Reg. No.:

J40/3374/2004

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of plastic plates, sheets, tubes and profiles

 

 

No. of Employees :

102 Persons

 

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

 

Maximum Credit Limit :

EUR 100.000,00

Status :

Satisfactory

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)

Romania

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

ROMANIA - ECONOMIC OVERVIEW

 

Romania, which joined the European Union on 1 January 2007, began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets. Domestic consumption and investment fueled strong GDP growth, but led to large current account imbalances. Romania's macroeconomic gains have only recently started to spur creation of a middle class and to address Romania's widespread poverty. Corruption and red tape continue to permeate its business environment. Inflation rose in 2007-08, driven by strong consumer demand and high wage growth, rising energy costs, a nation-wide drought, and a relaxation of fiscal discipline. As a result of the global financial crisis, Romania's GDP fell more than 7% in 2009, prompting Bucharest to seek a $26 billion emergency assistance package from the IMF, the EU, and other international lenders. Drastic austerity measures, as part of Romania's IMF-led agreement, led to a 1.3% GDP contraction in 2010. The economy returned to positive growth in 2011 due to a strong export performance, but in a deflationary environment caused by bountiful crops and weak domestic demand. In March 2011, Romania and the IMF/EC/World Bank signed a 24-month precautionary stand-by agreement, worth $4.9 billion, to promote compliance with fiscal targets, progress on structural reforms, and financial sector stability. The Romanian authorities have announced that they do not intend to draw funds from the facility.

Source : CIA

company name and address

 

INDUSTRIAL MECANO IMPORT-EXPORT SRL

Str. Mitropolit Veniamin Costache nr. 22, Bucuresti, 050192, Sector 4

Tel +40 21 3368393/ +40 21 3368394

Fax +40 21 3368393

Email ambalare@industrial.ro

WEB www.industrial.ro

 

 

 

Company details

 

Legal Form

Private Limited Company

 

 

Foundation

04.03.2004

 

 

Trade Register

Reg. Nr. J40/3374/2004

Fiscal code RO 10973931

 

 

Capital

RON 50,000.00

 

 

Associates

Marius Razvan Bohan, born on 1967, Romanian, Romania

42,00000000%

 

 

Leontin Florin  Radu Pascaru, born on 1961, Romanian, Romania

42,00000000%

 

 

Abraflex Enterprises Inc, Usa

10,00000000%

Wilmington

 

Bramson (overseas) Ltd, Virgin Islands

6,00000000%

Trident Chambers Road Townn

 

 

 

Principals

Marius Razvan Bohan

Administrator

Leontin Florin  Radu Pascaru

Administrator

Kpmg Audit Srl

Auditor

Sc Tastel Srl

Auditor

Tastel Srl

Auditor

 

 

Participation

Participations and functions: Bohan Marius Razvan

 - API ADMINISTRARE PROPRIETATI IMOBILIARE SRL, RO 27871510, shareholder, 2,44000000%

 - BASARABI EOL SUD SRL, RO 25452613, administrator,

 - GALATI EOL SUD SRL, RO 25451952, administrator and shareholder, 0,70580000%

 - HUSI EOL SRL, RO 25451944, administrator,

 - INDUSTRIAL PLASTIC RECYCLING SRL, RO 15868767, administrator and shareholder, 30,00000000%

 - INDUSTRIAL TRADE & TECHNOLOGY SRL, RO 15840677, shareholder, 50,00000000%

 - MANAGEMENT PRODUCŢIE SRL, RO 16855510, shareholder, 55,00000000%

 

Participations and functions: Pascaru Leontin Florin  Radu

 - HELICAM GEOSPAŢIAL SYSTEMS SRL, RO 30527330, administrator and shareholder, 40,00000000%

 - INDUSTRIAL PLASTIC RECYCLING SRL, RO 15868767, administrator and shareholder, 30,00000000%

 - INDUSTRIAL TRADE & TECHNOLOGY SRL, RO 15840677, administrator and shareholder, 50,00000000%

 - LUXURY GOODS IMPORT SRL, RO 30111272, administrator,

 - MANAGEMENT PRODUCŢIE SRL, RO 16855510, administrator and shareholder, 45,00000000%

 - ROSIE RE SRL, RO 18947555, administrator and shareholder, 18,56000000%

 

Participations of the company: INDUSTRIAL MECANO IMPORT-EXPORT SRL

 - ROSIE RE SRL, RO 18947555, 25,00000000%

 

 

Generalities

2221 Manufacture of plastic plates, sheets, tubes and profiles

 Legal office and working spaces at the above mentioned address

 

Working Points:

 

 -  Timisoara, Str.Anton Bacalbasa, Nr.2/d, Jud.Timis

 -  Cluj Napoca, Str.Calea Baciului, Nr.2-4

 

 

Real estate

According to the Balance Sheet 2011 the company holds real estates with a book value of 3,768,695 RON, but we do not have any other details on the type and location of these assets.

 

 

Employees

2001

36 Persons

2002

52 Persons

2003

65 Persons

2004

84 Persons

2005

83 Persons

2006

98 Persons

2007

99 Persons

2008

92 Persons

2009

87 Persons

2010

92 Persons

2011

107 Persons

2012

102 Persons

 

 

Annual turnover

1999

RON

3,448,743.40

 

2000

RON

6,808,282.90

 

2001

RON

22,200,596.50

 

2002

RON

23,416,909.10

 

2003

RON

34,341,579.90

 

2004

RON

44,330,862.30

 

2005

RON

43,744,797.00

 

2006

RON

53,900,285.00

 

2007

RON

59,419,593.00

 

2008

RON

61,732,222.00

 

2009

RON

54,721,008.00

 

2010

RON

55,869,813.00

 

2011

RON

62,865,706.00

 

2012

RON

33,595,240.00

 

 

Assets

Figures in RON per

31.12.2010

31.12.2011

30.06.2012

 

1.Incorporation expenses 

0.0

0.0

N/A

 

2.Development expenses

0.0

0.0

N/A

 

3.Concession rights, patents, licences, trademarks, similar rights and assets and other intangible fixed assets

12,588.0

34,636.0

N/A

 

4.Goodwill

0.0

0.0

N/A

 

5.Down payments and intangible fixed assets in progress

0.0

0.0

N/A

 

TOTAL INTANGIBLE FIXED ASSETS

12,588.0

34,636.0

24,821.0

 

1.Land and buildings

3,557,422.0

3,617,082.0

N/A

 

2.Technical installations and machines

4,759,452.0

8,503,096.0

N/A

 

3.Other installations, machinery and furniture

210,485.0

161,278.0

N/A

 

4.Down payments and tangible fixed assets in progress

7,169.0

2,031,513.0

N/A

 

TOTAL TANGIBLE FIXED ASSETS

8,534,528.0

14,312,969.0

17,511,838.0

 

1.Shares in subsidiaries

0.0

0.0

N/A

 

2.Loans given to subsidiaries

0.0

0.0

N/A

 

3.Participating interests

6,000.0

510,000.0

N/A

 

4.Loans given to associates

364,208.0

630,676.0

N/A

 

5.Other long term investments

0.0

0.0

N/A

 

6.Other loans

0.0

0.0

N/A

 

TOTAL CAPITAL ASSETS

370,208.0

1,140,676.0

1,576,465.0

 

NON CURRENT ASSETS - TOTAL

8,917,324.0

15,488,281.0

19,113,124.0

 

1.Raw materials and consumables

3,190,867.0

3,776,767.0

N/A

 

2.Work in progress

0.0

23,669.0

N/A

 

3.Finished goods

2,789,420.0

3,696,448.0

N/A

 

4.Down payments on inventory purchases

15,401.0

1,529,686.0

N/A

 

TOTAL INVENTORIES

5,995,688.0

9,026,570.0

10,276,341.0

 

1.Trade receivables

10,232,262.0

11,332,205.0

N/A

 

2.Receivables from subsidiaries

0.0

0.0

N/A

 

3.Receivables from entities in respect of participating interests

0.0

0.0

N/A

 

4.Other receivables

91,355.0

25,436.0

N/A

 

5.Unpaid subscribed capital

0.0

0.0

N/A

 

TOTAL RECEIVABLES

10,323,617.0

11,357,641.0

16,369,044.0

 

1.Shares in subsidiaries

0.0

0.0

N/A

 

2.Other short-term investments

0.0

0.0

N/A

 

TOTAL SHORT-TERM INVESTMENTS

0.0

0.0

0.0

 

IV. PETTY CASH AND BANK ACCOUNTS

1,242,724.0

1,650,790.0

365,878.0

 

CURRENT ASSETS - TOTAL

17,562,029.0

22,035,001.0

27,011,263.0

 

C. PREPAID EXPENSES

49,696.0

64,227.0

72,603.0

 

TOTAL ASSETS

26,529,049.0

37,587,509.0

46,196,990.0

 

Liabilities

Figures in RON per

31.12.2010

31.12.2011

30.06.2012

 

1.Debenture loans

0.0

0.0

N/A

 

2.Amounts payable to credit entities

3,085,100.0

4,338,760.0

N/A

 

3.Down payments received on orders in progress

30,148.0

20,677.0

N/A

 

4.Commercial debts - suppliers

6,466,332.0

9,983,967.0

N/A

 

5.Commercial bills due

0.0

0.0

N/A

 

6.Amounts payable to subsidiaries

0.0

0.0

N/A

 

7.Amounts payable to associates in respect of participating interests 

0.0

0.0

N/A

 

8.Other debts, including fiscal debts and amounts payable to social security

1,009,075.0

956,104.0

N/A

 

TOTAL SHORT-TERM DEBTS

10,590,655.0

15,299,508.0

19,381,715.0

 

E.NET CURRENT ASSETS/NET CURRENT DEBTS

7,021,070.0

6,799,720.0

N/A

 

F.TOTAL ASSETS MINUS CURRENT DEBTS

15,938,394.0

22,288,001.0

N/A

 

1.Debenture loans

0.0

0.0

N/A

 

2.Amounts payable to credit entities

0.0

6,297,313.0

N/A

 

3.Down payments received on orders in progress

0.0

0.0

N/A

 

4.Commercial debts - suppliers

0.0

0.0

N/A

 

5.Commercial bills due

0.0

0.0

N/A

 

6.Amounts payable to subsidiaries

0.0

0.0

N/A

 

7.Amounts payable to associates in respect of participating interests  

0.0

0.0

N/A

 

8.Other debts, including fiscal debts and amounts payable to social security

0.0

0.0

N/A

 

TOTAL LONG-TERM DEBTS

0.0

6,297,313.0

10,936,277.0

 

1.Provisions for pensions and other similar obligations

0.0

0.0

N/A

 

2.Provisions for taxes

0.0

0.0

N/A

 

3.Other provisions

13,058.0

13,058.0

N/A

 

TOTAL DEBTS

10,590,655.0

21,596,821.0

30,317,992.0

 

TOTAL PROVISIONS

13,058.0

13,058.0

13,058.0

 

Grants for investments

0.0

0.0

N/A

 

deferred income

0.0

0.0

N/A

 

TOTAL DEFERRED INCOME

0.0

0.0

0.0

 

1.Subscribed and paid capital

50,000.0

50,000.0

N/A

 

2.Subscribed and unpaid capital

0.0

0.0

N/A

 

3.Assets and liabilities (public sector companies)

0.0

0.0

N/A

 

TOTAL SHARE CAPITAL

50,000.0

50,000.0

50,000.0

 

II. CAPITAL PREMIUM

0.0

0.0

N/A

 

III. REVALUATION RESERVES

2,245,282.0

2,322,268.0

N/A

 

1.Legal reserves

10,000.0

10,000.0

N/A

 

2.Statutory or contractual reserves

0.0

0.0

N/A

 

3.Reserves representing the revaluation reserve surplus

3,726,011.0

3,811,232.0

N/A

 

4.Other reserves

9,700,376.0

9,700,376.0

N/A

 

TOTAL RESERVES

13,436,387.0

13,521,608.0

N/A

 

Own shares

0.0

0.0

N/A

 

Earnings associated to own capital instruments

0.0

0.0

N/A

 

Losses associated to own capital instruments

0.0

0.0

N/A

 

Reported profit or loss (e) Balance account C

0.0

0.0

N/A

 

Reported profit or loss (e) Balance account D

0.0

77,550.0

N/A

 

Profit or loss as per the financial year Balance account C

193,667.0

161,304.0

N/A

 

Profit or loss as per the financial year Balance account D

0.0

0.0

N/A

 

Profit distribution

0.0

0.0

N/A

 

SHAREHOLDERS' EQUITY - TOTAL

15,925,336.0

15,977,630.0

15,865,940.0

 

Public patrimony

0.0

0.0

N/A

 

EQUITY - TOTAL

15,925,336.0

15,977,630.0

N/A

 

TOTAL LIABILITIES

26,529,049.0

37,587,509.0

46,196,990.0

 

Notes

Figures in RON per

31.12.2010

31.12.2011

30.06.2012

 

1. Net turnover

55,869,813.0

62,865,706.0

33,595,240.0

 

Own work sold

39,645,127.0

44,134,759.0

24,504,538.0

 

Income from the sale of goods

16,252,491.0

18,925,477.0

9,092,033.0

 

Income from interests made by leasing

0.0

0.0

0.0

 

Income from grants related to income corresponding to net turnover

0.0

0.0

0.0

 

-------Balance account C

250,602.0

604,902.0

564,162.0

 

Balance account D

0.0

0.0

0.0

 

3. Production made by the entity for its own purposes and capitalized

0.0

0.0

14,344.0

 

4. Other operating income

22,210.0

79,251.0

4.0

 

OPERATING INCOME - TOTAL

56,142,625.0

63,549,859.0

34,173,750.0

 

5. a) Expenses on raw materials and consumables

34,396,139.0

38,805,321.0

21,919,770.0

 

Other expenses supplies and materials

78,261.0

98,132.0

28,216.0

 

b) Other outsourced expenses (electricity and water)

1,027,060.0

1,076,120.0

658,030.0

 

c) Expenses on goods

13,958,220.0

15,911,332.0

7,702,196.0

 

6. Expenses on personnel, of which:

1,243,851.0

1,493,667.0

713,988.0

 

a) Salaries and benefits

995,084.0

1,181,096.0

556,433.0

 

b) Insurance and social security costs

248,767.0

312,571.0

157,555.0

 

7. a) Adjustments of the value of tangible and intangible fixed assets

1,584,289.0

1,958,392.0

1,223,376.0

 

a.1) Expenses

1,584,289.0

1,958,392.0

1,223,376.0

 

a.2) Income

0.0

0.0

0.0

 

b) Adjustments of the value of current assets

20,928.0

21,068.0

4,170.0

 

b.1) Expenses

20,928.0

71,907.0

4,170.0

 

b.2) Income

0.0

50,839.0

0.0

 

8. Other operating costs

3,650,938.0

3,518,087.0

1,444,963.0

 

8.1. Expenses on third party services

3,576,877.0

3,475,704.0

1,400,188.0

 

8.2. Expenses on other taxes, duties and similar charges

46,027.0

34,540.0

27,542.0

 

8.3. Expenses on compensations, donations and assigned assets

28,034.0

7,843.0

17,233.0

 

Expenses with refinancing interest rates of leasing entities

0.0

0.0

0.0

 

Adjustments of provisions

-10,590.0

0.0

0.0

 

Expenses

0.0

0.0

0.0

 

income

10,590.0

0.0

0.0

 

OPERATING EXPENSES - TOTAL

55,521,065.0

62,513,278.0

33,614,730.0

 

 - Profit

621,560.0

1,036,581.0

559,020.0

 

 - Loss

0.0

0.0

0.0

 

9. Income from participating interests, of which:

0.0

0.0

0.0

 

income obtained from subsidiaries

0.0

0.0

0.0

 

10. Income from other financial investments and loans which are part of intangible fixed assets (acc. 763), of which:

0.0

0.0

0.0

 

income obtained from subsidiaries

0.0

0.0

0.0

 

11. Income from interest rates, of which:

6,701.0

4,938.0

3,968.0

 

income obtained from subsidiaries

0.0

0.0

0.0

 

Other financial income

629,051.0

1,224,852.0

325,043.0

 

FINANCIAL INCOME - TOTAL

635,752.0

1,229,790.0

329,011.0

 

12. Value adjustments in respect of capital assets and investments as current assets

0.0

0.0

0.0

 

Expenses

0.0

0.0

0.0

 

income

0.0

0.0

0.0

 

13. Interest expenses

139,861.0

459,340.0

265,519.0

 

of which, expenses in respect of subsidiaries

0.0

0.0

0.0

 

Other financial expenses

778,952.0

1,559,173.0

725,372.0

 

FINANCIAL EXPENSES - TOTAL

918,813.0

2,018,513.0

990,891.0

 

 - Financial profit

0.0

0.0

0.0

 

 - Financial loss

283,061.0

788,723.0

661,880.0

 

 - Current profit

338,499.0

247,858.0

0.0

 

 - Current loss

0.0

0.0

102,860.0

 

15. Extraordinary income

0.0

0.0

0.0

 

16. Extraordinary expenses

13,082.0

0.0

0.0

 

 - Extraordinary profit

0.0

0.0

0.0

 

 - Extraordinary loss

13,082.0

0.0

0.0

 

TOTAL INCOME

56,778,377.0

64,779,649.0

34,502,761.0

 

TOTAL EXPENSES

56,452,960.0

64,531,791.0

34,605,621.0

 

 - Gross profit

325,417.0

247,858.0

0.0

 

 - Gross loss

0.0

0.0

102,860.0

 

18. Income tax

131,750.0

86,554.0

8,830.0

 

19. Other taxes which are not recorded above

0.0

0.0

0.0

 

 - Net profit

193,667.0

161,304.0

0.0

 

 - Net loss

0.0

0.0

111,690.0

 

Net result

193,667.0

161,304.0

-111,690.0

 

Additional information

Figures in RON per

31.12.2010

31.12.2011

30.06.2012

 

Outstanding payments-total, of which: - TOTAL

294,715.0

635,356.0

206,626.0

 

Accounts payable outstanding- total, of which: - TOTAL

294,715.0

634,901.0

206,626.0

 

over 30 days - TOTAL

70,759.0

N/A

105,113.0

 

over 90 days - TOTAL

53,894.0

N/A

16,702.0

 

over 1 year - TOTAL

170,062.0

N/A

84,811.0

 

Outstanding payments to social security- total, of which: - TOTAL

0.0

0.0

0.0

 

contributions to social security payable by employers, employees and other assimilated entities - TOTAL

0.0

0.0

0.0

 

contributions to the social health insurance fund - TOTAL

0.0

0.0

0.0

 

contribution to the additional state pension system - TOTAL

0.0

0.0

0.0

 

contributions to the unemployment fund - TOTAL

0.0

0.0

0.0

 

other social liabilities - TOTAL

0.0

0.0

0.0

 

Payments due to special funds and other funds - TOTAL

0.0

0.0

0.0

 

Payments due to other creditors - TOTAL

0.0

0.0

0.0

 

Taxes and fees unpaid to the public budget on the date due - TOTAL

0.0

0.0

0.0

 

Taxes and fees unpaid to the local budget on the date due - TOTAL

0.0

455.0

0.0

 

Bank credits which were not reimbursed on the date due - total, of which: - TOTAL

0.0

0.0

0.0

 

 back payments after 30 days - TOTAL

0.0

N/A

0.0

 

back payments after 90 days - TOTAL

0.0

N/A

0.0

 

back payments after 1 year - TOTAL

0.0

N/A

0.0

 

Past due interest - TOTAL

0.0

0.0

0.0

 

Average number of employees

92

107

102

 

Specific tangible fixed assets

Figures in RON per

31.12.2010

31.12.2011

30.06.2012

 

Lands

2,536,430.0

2,534,490.0

N/A

 

Buildings

1,332,036.0

1,234,205.0

N/A

 

Technical installations and machines

14,966,392.0

20,408,826.0

N/A

 

Notes

 

In 04.03.2004 The address changed from Jud. Timis  (j35/932/1998) to the actual address Bucuresti

T

 

Banks

Otp Bank, Timisoara

 

 

 

The subject is registered in the Electronic Archive for Secured Transactions, as having credits at:

Otp Bank  Timisoara 

These credits are guaranteed with cash-flow and fixed assets.

If the company is asking for credits, for which the company has to present guarantees, these have to be first verified.

 

 

Payment behavior

So far no complaints ,recently occasional reminders (33)

 

 

 

According to the information registered at the Ministry of Finance, the company has no overdue debts to the State budget as of 30.09.2012.

 

There are no related to the subject at the Payment Incidents Bureau (CIP) in the period 03.01.2006 - 03.01.2013.

 

 

 

There are no related to the subject company at the Insolvency Proceedings Bulletin.

 

There are no records related to the subject company in our debt collection department.

 

 

Solvency

Business connections appear permissible (31)

Max. credit: EUR 100.000,00

 

 

 

Financial analysis - 2011

* Liquidity ratios

   -current ratio:                                                1,44  medium

   -quick ratio:                                                  0,85  medium

* Solvency ratios

   -leverage ratio:                                               1,35  medium

   -long and medium term debts' ratio:                            0,39  very good

* Profitability ratios

   -financial profitability:                                      1,01% unsatisfactory

   -gross profit margin's ratio:                                  0,39% unsatisfactory

   -return on assets (economic profitability):                    0,43% unsatisfactory

* Activity ratios

   -turnover of assets:                                           1,67

   -average debt cashing period:                                 65,04  days

 

Exchange rate

Per 30.06.2012

USD 1,-- = RON 3.3851

EUR 1,-- = RON 4.3888

Per 31.12.2011

USD 1,-- = RON 3.0486

EUR 1,-- = RON 4.2379

Per 31.12.2010

USD 1,-- = RON 3.1779

EUR 1,-- = RON 4.2099

Per 31.12.2009

USD 1,-- = RON 3.0493

EUR 1,-- = RON 4.2373

Per 31.12.2008

USD 1,-- = RON 2.5189

EUR 1,-- = RON 3.6827

Per 31.12.2007

USD 1,-- = RON 2.4383

EUR 1,-- = RON 3.3373

 

 

About

This report belongs only to the addressee.

The report contains commercial and financial information obtained from official sources and from the subject. Any responsibility for the above-mentioned information or for the minor mistakes that may arise in this report is declined. The addressee may process and use the information only for the purpose this report was ordered and must comply with the above-mentioned conditions.

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.54.84

UK Pound

1

Rs.88.16

Euro

1

Rs.71.54

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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%)

 

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