|
Report Date : |
14.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
nUTIFARM-cORPORATION |
|
|
|
|
Registered Office : |
Lot B2-54, Road No.1,
Tan Dong Hiep B Industrial Park,Tan Dong Hiep Ward, Di An Town, Binh Duong
Province |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
2003 |
|
|
|
|
Com. Reg. No.: |
3700499598 |
|
|
|
|
Legal Form : |
Joint stock
company |
|
|
|
|
Line of Business : |
Manufacturer and Trading in Animal Feeds. |
|
|
|
|
No. of Employees : |
140 |
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 |
|
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 (31.03.2011) |
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
|
||
Current legal status
|
||
|
English Name |
|
NUTIFARM - CORPORATION |
|
Vietnamese Name |
|
CONG TY CO PHAN THUC AN DINH DUONG NUTIFARM |
|
Short name |
|
NUTIFARM
|
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2003 |
|
Business Registration No. |
|
3700499598 |
|
Date of Registration |
|
10 Dec 2010 |
|
Date of 07th Adjustment |
|
19 Jan 2012 |
|
Date of 08th Adjustment |
|
06 Jun 2012 |
|
Place of Registration |
|
Business Registration Office - Planning and Investment Department of
Binh Duong Province |
|
Current registered capital |
|
VND 58,500,000,000 |
|
Tax code |
|
3700499598 |
|
Total Employees |
|
140 |
|
Size |
|
Medium |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business Registration No: 4603000068 which was
issued on 07th May 2003 Changed to: 3700499598 |
10 Dec 2010 |
|
2 |
Subject has got former chartered capital: 30,000,000,000 VND Changed to: 45,000,000,000 VND |
10 Dec 2010 |
|
3 |
Subject has got former Chartered capital: 45,000,000,000 VND Changed to: 58,500,000,000 VND |
19 Jan 2012 |
|
4 |
Subject has got former registration English name: NUTIFARM CORPORATION Changed to: NUTIFARM -
CORPORATION |
19 Jan 2012 |
ADDRESSES
|
||
|
Head Office |
||
|
Address |
|
Lot B2-54, Road No.1, Tan Dong Hiep B Industrial Park,Tan Dong Hiep
Ward, Di An Town, Binh Duong Province, Vietnam |
|
Telephone |
|
(84-650) 373 8888 / 373 8777 |
|
Fax |
|
(84-650) 373 8666 |
|
Email |
|
|
|
Occupied Area |
|
24,000m2 |
DIRECTORS
|
||
|
1. NAME |
|
Mr. TRAN QUOC OAI |
|
Position |
|
General Director |
|
Date of Birth |
|
01 Nov 1962 |
|
ID Number/Passport |
|
023623704 |
|
ID Issue Date |
|
17 Dec 1997 |
|
ID Issue Place |
|
Police Station of Hochiminh City |
|
Resident |
|
No. 105D, Cuu Long Housing Compound, Ngo Tat To
Street, Ward 22, Binh Thanh District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Notes: the given name (Mr. PHAM MINH PHUONG) stopped working for the
subject long time ago. |
||
|
2. NAME |
|
Mr. NGUYEN TAN TRUNG |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
3. NAME |
|
Ms. BUI THI MY NU |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
BUSINESS NATURE AND ACTIVITIES
|
|
The
subject registered operating in the following lines of business: -
Manufacturing
and trading in animal feeds -
Trading
in materials for feed processing industry -
Processing
and trading in agricultural products -
Breeding animals -
Raising
of poultry -
Marine
aquaculture -
Wholesale
of rice -
Wholesale
of food -
Real
estate activities with own or leased property -
Raising
of sheep and goats -
Raising
of pigs -
Freshwater
aquaculture -
Processing
and preserving of fish, crustaceans and mollusks -
Processing
and preserving of fruit and vegetables -
Manufacture
of macaroni, noodles, couscous and similar farinaceous products -
Wholesale
of agricultural raw materials (except wood, bamboo) and live animals -
Freight
transport by road -
Warehousing
and storage -
Other
transportation support activities -
Wholesale
of waste and scrap and other products n.e.c |
IMPORT & EXPORT ACTIVITIES
|
||
|
IMPORT: |
||
|
·
Types
of products |
|
Materials and
equipment |
|
·
Market
|
|
Netherlands,
Australia, USA, Singapore, Argentina, India, Indonesia, Germany |
|
·
Ratio |
|
70% |
|
·
Mode
of payment |
|
L/C |
|
|
||
|
EXPORT: |
||
|
·
Types
of products |
|
Bran, cashew
nuts |
|
·
Market
|
|
China,
Malaysia, Canada etc |
|
·
Mode
of payment |
|
D/P |
|
Notes: The
rest 85 % products of the Subject are consumed in domestic. |
||
BANKERS
|
||
|
1.
HSBC VIETNAM LTD |
||
|
Address |
|
6th Floor, No. 235 Dong Khoi Str., Ben Nghe ward, District
1, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 38292288 |
|
|
||
|
2.
VIETNAM TECHNOLOGYCAL AND COMMERCIAL JOINT STOCK BANK GIA DINH BRANCH |
||
|
Address |
|
Tuoi Tre Building, 60A Hoang Van Thu Str, Ward 9 , Phu Nhuan District,
Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 39954540 |
|
Fax |
|
(84-8) 39954541 |
|
|
||
|
3.
DONG A COMMERCIAL JOINT STOCK BANK - BRANCH IN DISTRICT 4 |
||
|
Address |
|
No. 154-156-158 Nguyen Tat Thanh Street, Ward 13, District 4, Ho Chi
Minh City, Vietnam |
|
Telephone |
|
(84-8) 5401 1511 |
|
Fax |
|
(84-8) 5401 1512 |
|
|
||
|
4.
VIET NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE TRANSACTION
CENTER NO.2 |
||
|
Address |
|
No.79A Ham Nghi Str, Nguyen Thai Binh Ward, District 1, Ho Chi Minh
City, Vietnam |
|
Telephone |
|
(84-8) 3829 0715 |
|
Fax |
|
(84-8) 3829 5342 |
|
Notes:
currently, the subject does not have transaction with Joint Stock Commercial Bank
For Foreign Trade Of Vietnam HCM Branch. |
||
SHAREHOLDERS
|
||
Following is registration shareholder information of subject: |
||
|
NAME |
|
Mr. TRAN QUOC OAI |
|
Position |
|
General Director |
|
Date of Birth |
|
01 Nov 1962 |
|
ID Number/Passport |
|
023623704 |
|
Issued on |
|
17 Dec 1997 |
|
Issued Place |
|
Police Station of Hochiminh City |
|
Resident |
|
No. 105D, Cuu Long Housing Compound, Ngo Tat To Street, Ward 22, Binh
Thanh District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Shares |
|
5,200,000 |
|
Value of shares |
|
VND 52,000,000,000 |
|
Percentage |
|
88.89% |
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 |
224,039,648,728 |
185,558,641,242 |
138,924,092,153 |
|
I. Cash and cash
equivalents |
1,257,781,242 |
4,642,157,684 |
5,633,349,658 |
|
1. Cash |
1,257,781,242 |
4,642,157,684 |
407,313,115 |
|
2. Cash equivalents |
0 |
0 |
5,226,036,543 |
|
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 |
90,879,868,251 |
78,893,135,808 |
59,997,008,972 |
|
1. Receivable from customers |
53,451,905,327 |
53,834,376,614 |
39,422,512,360 |
|
2. Prepayments to suppliers |
37,427,962,924 |
25,045,759,194 |
20,561,496,612 |
|
3. Inter-company receivable |
0 |
|
0 |
|
4. Receivable according to the progress of construction |
0 |
|
0 |
|
5. Other receivable |
0 |
13,000,000 |
13,000,000 |
|
6. Provisions for bad debts |
0 |
|
0 |
|
IV. Inventories |
127,139,796,305 |
91,928,754,586 |
64,657,743,426 |
|
1. Inventories |
127,139,796,305 |
91,928,754,586 |
64,657,743,426 |
|
2. Provisions for devaluation of inventories |
0 |
|
0 |
|
V. Other Current
Assets |
4,762,202,930 |
10,094,593,164 |
8,635,990,097 |
|
1. Short-term prepaid expenses |
23,760,000 |
23,760,000 |
23,760,000 |
|
2. VAT to be deducted |
440,684,327 |
|
1,201,540,907 |
|
3. Taxes and other accounts receivable from the State |
0 |
85,491,891 |
0 |
|
4. Other current assets |
4,297,758,603 |
9,985,341,273 |
7,410,689,190 |
|
B. LONG-TERM
ASSETS |
44,083,974,204 |
36,167,613,210 |
40,383,150,578 |
|
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
|
44,083,974,204 |
36,167,613,210 |
40,383,150,578 |
|
1. Tangible assets |
20,044,189,945 |
22,076,679,305 |
25,875,756,890 |
|
- Historical costs |
48,056,887,711 |
42,344,957,730 |
41,304,456,985 |
|
- Accumulated depreciation |
-28,012,697,766 |
-20,268,278,425 |
-15,428,700,095 |
|
2. Financial leasehold assets |
12,810,918,431 |
2,588,193,301 |
2,730,778,308 |
|
- Historical costs |
15,453,454,577 |
4,383,733,855 |
3,616,059,426 |
|
- Accumulated depreciation |
-2,642,536,146 |
-1,795,540,554 |
-885,281,118 |
|
3. Intangible assets |
11,228,865,828 |
11,502,740,604 |
11,776,615,380 |
|
- Initial costs |
13,669,853,306 |
13,669,853,306 |
13,669,853,306 |
|
- Accumulated amortization |
-2,440,987,478 |
-2,167,112,702 |
-1,893,237,926 |
|
4. Construction-in-progress |
0 |
0 |
0 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
0 |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
0 |
0 |
0 |
|
1. Long-term prepaid expenses |
0 |
0 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
268,123,622,932 |
221,726,254,452 |
179,307,242,731 |
|
|
|||
LIABILITIES
|
|||
|
A- LIABILITIES |
210,222,953,389 |
169,092,323,793 |
145,385,309,522 |
|
I. Current liabilities
|
165,557,348,689 |
154,916,262,728 |
124,039,785,636 |
|
1. Short-term debts and loans |
159,256,160,689 |
149,520,576,473 |
105,469,505,327 |
|
2. Payable to suppliers |
5,345,153,843 |
4,592,496,420 |
17,404,487,140 |
|
3. Advances from customers |
0 |
|
0 |
|
4. Taxes and other obligations to the State Budget |
530,811,078 |
342,768,687 |
729,794,563 |
|
5. Payable to employees |
425,223,079 |
460,421,148 |
341,761,883 |
|
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 |
0 |
0 |
94,236,723 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
11. Bonus and welfare funds |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
44,665,604,700 |
14,176,061,065 |
21,345,523,886 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
44,665,604,700 |
14,176,061,065 |
21,345,523,886 |
|
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 |
57,900,669,543 |
52,633,930,659 |
33,921,933,209 |
|
I. OWNER’S
EQUITY |
57,900,669,543 |
52,633,930,659 |
33,921,933,209 |
|
1. Capital |
45,000,000,000 |
45,000,000,000 |
30,000,000,000 |
|
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 |
0 |
0 |
0 |
|
10. Retained earnings |
12,900,669,543 |
7,633,930,659 |
3,921,933,209 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
12. Business arrangement supporting fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds (Elder form) |
0 |
0 |
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 |
268,123,622,932 |
221,726,254,452 |
179,307,242,731 |
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
FY2009 |
|
1. Total Sales |
646,157,968,737 |
674,798,126,087 |
603,760,031,802 |
|
2. Deduction item |
0 |
|
0 |
|
3. Net revenue |
646,157,968,737 |
674,798,126,087 |
603,760,031,802 |
|
4. Costs of goods sold |
604,802,078,876 |
644,612,433,921 |
579,880,689,335 |
|
5. Gross profit |
41,355,889,861 |
30,185,692,166 |
23,879,342,467 |
|
6. Financial income |
1,253,026,713 |
1,910,263,396 |
3,280,278,801 |
|
7. Financial expenses |
30,013,838,053 |
21,813,320,795 |
15,344,944,739 |
|
- In which: Loan interest expenses |
18,678,671,684 |
17,814,400,265 |
10,633,367,614 |
|
8. Selling expenses |
5,579,352,207 |
5,570,026,125 |
5,533,937,658 |
|
9. Administrative overheads |
2,484,073,340 |
2,679,269,377 |
2,324,238,304 |
|
10. Net operating profit |
4,531,652,974 |
2,033,339,265 |
3,956,500,567 |
|
11. Other income |
1,032,276,057 |
2,477,164,231 |
986,908,871 |
|
12. Other expenses |
18,014,014 |
57,180,129 |
0 |
|
13. Other profit /(loss) |
1,014,262,043 |
2,419,984,102 |
986,908,871 |
|
14. Total accounting profit before tax |
5,545,915,017 |
4,453,323,367 |
4,943,409,438 |
|
15. Current corporate income tax |
291,160,538 |
333,999,253 |
807,153,220 |
|
16. Deferred corporate income tax |
|
|
|
|
17. Interest from subsidiaries/related companies |
|
|
|
|
18. Profit after tax |
5,254,754,479 |
4,119,324,114 |
4,136,256,218 |
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2011 |
FY2010 |
FY2009 |
Average Industry |
|
Current liquidity ratio |
1.35 |
1.20 |
1.12 |
1.47 |
|
Quick liquidity ratio |
0.59 |
0.60 |
0.60 |
0.70 |
|
Inventory circle |
5.52 |
8.23 |
8.97 |
8.31 |
|
Average receive period |
51.34 |
42.67 |
36.27 |
28.57 |
|
Utilizing asset performance |
2.41 |
3.04 |
3.37 |
2.64 |
|
Liability by total assets |
78.41 |
76.26 |
81.08 |
58.07 |
|
Liability by owner's equity |
363.08 |
321.26 |
428.59 |
182.19 |
|
Ebit / Total assets (ROA) |
9.03 |
10.04 |
8.69 |
10.02 |
|
Ebit / Owner's equity (ROE) |
41.84 |
42.31 |
45.92 |
25.93 |
|
Ebit / Total revenue (NPM) |
3.75 |
3.30 |
2.58 |
3.82 |
|
Gross profit / Total revenue (GPM) |
6.40 |
4.47 |
3.96 |
8.54 |
|
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 |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Direct payment or through its corresponding bank, L/C, D/P |
|
Sale Methods |
|
Retailer and Wholesaler |
INTERPRETATION ON THE SCORES
|
|
NUTIFARM
- CORPORATION was established in 2003. The head office and factory are
locating at “Lot B2-54, Road No.1, Tan Dong Hiep B Industrial
Park, Tan Dong Hiep Ward, Di An Town, Binh Duong Province, Vietnam” with the total area of 24,000 sqm.
Currently, the registered capital of the subject is VND 58,500,000,000. The
subject specializes in manufacturing and trading in animal feeds. Now, it is
one of largest local companies in the animal and aquatic feed industry in Vietnam.
The subject mainly imports material and equipment from Argentina (soybean),
India, the US, etc. It also exports bran and cashew nuts to China, Malaysia
and Canada. However, main operating market of the subject is domestic. It has
many types of products for animal, poultry and fish. Its annual production
capacity of feed mill is 140,000 tons of finished pelleted feed. Half of the
output is pig feed and the remainder is being for poultry, fish and dairy
cow. Competitive
capacity of the subject is acceptable. Some competitors of subject: Proconco,
CP Vietnam, Cargill Vietnam, Lai Thieu, CJ Vina Agri, Thanh Binh, Vina, Dinh
Duong A Chau, Thanh Cong, Grobest & I - Mei Industrial VN and New Hope.
The revenue of the subject is increasing annually. Its premises and
facilities are fair. In general, the subject has financial situation to meet
all normal commitments. |
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 |
|||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
|
1 |
Rs.88.05 |
|
Euro |
1 |
Rs.72.29 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.