MIRA INFORM REPORT

 

 

Report Date :

04.07.2013

 

IDENTIFICATION DETAILS

 

Name :

OCEAN SKY INTERNATIONAL LIMITED

 

 

Formerly Known As :

Ocean Sky International Pte. Ltd.

 

 

Registered Office :

5 Tampines Central 1 #03-03 Tampines Plaza Singapore 529541

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2012 (Group)

 

 

Date of Incorporation :

08.09.1988

 

 

Com. Reg. No.:

198803225E

 

 

Legal Form :

Public Company Limited By Shares

 

 

Line of Business :

·         Manufacturer of wearing apparel except fur apparel nec (eg gloves and mittens, garters, handkerchiefs, raincoats, shawls and hair nets)

Manufacturer of shirts & other outer garments

Manufacturer of outer garments

Manufacturer of wearing apparel except footwear nec

 

 

No. of Employees :

Not Available 

 

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 :

Exists

 

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 – March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Singapore ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

 

Company Name:

Registered Number:

OCEAN SKY INTERNATIONAL LIMITED

198803225E

 

Date Incorporated:

Registered Office:

Telephone Number:

08/09/1988

5 TAMPINES CENTRAL 1 #03-03 TAMPINES PLAZA SINGAPORE 529541

6789 9988

Age of Company:

Website:

Industry Type:

25

www.oceanskyintl.com

MANUFACTURING

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

1

160

Payment pattern as per previous month

No. of Charges(s):
0

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

5

Holding Company:

NA

Number that are shareholders

NA

No. of Subsidiaries & Associated Companies:

3




EXECUTIVE SUMMARY

 

Company Name

:

OCEAN SKY INTERNATIONAL LIMITED

Registration No

:

198803225E

Date of Registration

:

08/09/1988

Former Name

:

1.OCEAN SKY KNITTED GARMENTS FACTORY PTE LTD Eff. date : 08/09/1988 Eff. date : 08/09/1988

2.OCEAN SKY TEXTILE PTE LTD Eff. date : 09/10/1989 Eff. date : 09/10/1989

3.OCEAN SKY INTERNATIONAL PTE. LTD. Eff. date : 23/01/2003 Eff. date : 23/01/2003

Date of Change of Name

:

07/02/2003

Type of Company

:

PUBLIC COMPANY LIMITED BY SHARES

Registered Address

:

5 TAMPINES CENTRAL 1 #03-03 TAMPINES PLAZA SINGAPORE 529541

Date of Change of Address

:

03/12/2009

Contact No.

:

6789 9988

Fax No.

:

6789 9933

Website

:

www.oceanskyintl.com

Registered Activities

:

1. MANUFACTURE OF WEARING APPAREL EXCEPT FUR APPAREL NEC (EG GLOVES AND MITTENS, GARTERS, HANDKERCHIEFS, RAINCOATS, SHAWLS AND HAIR NETS)

MANUF SHIRTS & OTHER OUTER GARMENTS

2. MANUFACTURE OF OUTER GARMENTS

MANUF WEARING APPAREL EXCEPT FOOTWEAR NEC

Issued Ordinary Capital*

:

$44,863,224.46 SINGAPORE, DOLLARS ,NO. OF SHARE : 449,441,053

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$44,863,224.46 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

NA

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

2

No. of Local Associates

:

1

Auditor

:

BDO LLP

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 0.00 (FY2012)

Net Worth

:

SGD - SIN 101,224,352.00 (FY2012)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

123 POSITION IN Singapore 500 Public Listed Companies Ranked By Sales/Turnover (2011/2012)

808 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012)

805 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

134 POSITION IN Singapore 500 Public Listed Companies Ranked By Sales/Turnover (2010/2011)

739 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

As Subject is registered as a public company limited by shares, its shareholder details are not available. Please refer to documentary for information.

 

 

OFFICER DETAILS

 

NAME

:

TEO KIANG KOK

ADDRESS

:

9 JALAN ILMU CAPITOL PARK SINGAPORE 299202

POSITION

:

DIRECTOR

DATE OF APPT

:

07/02/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1163581D

 

NAME

:

CHUA KENG HIANG

ADDRESS

:

942 TAMPINES AVENUE 5 #10-237 SINGAPORE 520942

POSITION

:

DIRECTOR

DATE OF APPT

:

07/02/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1199165C

 

NAME

:

ANG BOON CHEOW EDWARD

ADDRESS

:

17B LEEDON PARK SINGAPORE 267895

POSITION

:

DIRECTOR

MANAGING DIRECTOR

DATE OF APPT

:

15/08/1995

05/02/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1205391F

 

NAME

:

ANG BOON CHONG

ADDRESS

:

30 FORD AVENUE SINGAPORE 268710

POSITION

:

DIRECTOR

DATE OF APPT

:

15/08/1995

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1545596I

 

NAME

:

NG YA KEN @ NG AH KAN

ADDRESS

:

57 SUNBIRD CIRCLE APOLLO GARDENS SINGAPORE 487293

POSITION

:

DIRECTOR

DATE OF APPT

:

07/02/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2513318H

 

NAME

:

CHIA YAU LEONG

ADDRESS

:

394 YISHUN AVENUE 6 #08-1076 SINGAPORE 760394

POSITION

:

SECRETARY

DATE OF APPT

:

27/12/2011

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7372832J

 

 

KEY PERSONNEL PROFILE

 

Name:

ANG BOON CHEOW EDWARD

NRIC Number:

S1205391F

Available Address:

17B LEEDON PARK  SINGAPORE 267895

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

ANG TONG SENG BROTHERS ENTERPRISES PTE LTD

DIRECTOR

01/07/1991

630000

42.00

2

BLOOM TIME SERVICES (SG) PTE. LTD.

DIRECTOR

28/06/2007

-

NA

3

BLOOM TIME TRADING (2002) PTE. LTD.

DIRECTOR

30/01/2002

-

NA

4

GAS INVESTMENTS PTE. LTD.

DIRECTOR

08/08/2006

820000

33.33

5

GAS INVESTMENTS PTE. LTD.

SHAREHOLDER

-

-

NA

6

OCEAN SKY INTERNATIONAL LIMITED

MANAGING DIRECTOR

05/02/2003

-

NA

7

OCEAN SKY INTERNATIONAL LIMITED

DIRECTOR

15/08/1995

-

NA

8

SUNTEX MANUFACTURING PTE. LTD.

DIRECTOR

17/05/2004

-

NA

9

TEMBUSU GROWTH FUND II LTD.

SHAREHOLDER

-

200

0.85

10

TEMBUSU GROWTH FUND LTD.

SHAREHOLDER

-

2400

2.97

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

ANG TONG SENG BROTHERS ENTERPRISES PTE LTD

LIVE COMPANY

DIRECTOR

01/04/1982

16/05/2013

2

ANY FASHION HOUSE

TERMINATION

OWNER

15/07/1980

24/03/1982

3

ATS GARMENTS (S) PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

04/01/1995

26/04/2006

4

ATS GARMENTS (S) PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

06/12/2012

5

ATS HOLDINGS (2000) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

15/12/1999

22/09/2006

6

ATS HOLDINGS (2000) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

7

BEYTHIER PTE. LTD.

STRUCK OFF

DIRECTOR

08/10/2009

10/02/2012

8

BEYTHIER PTE. LTD.

STRUCK OFF

SECRETARY

08/10/2009

10/02/2012

9

BEYTHIER PTE. LTD.

STRUCK OFF

SHAREHOLDER

-

-

10

ECAM GARMENTS

CANCELLATION

MANAGER

27/06/1991

09/07/1993

11

ECAM GARMENTS

CANCELLATION

OWNER

27/06/1991

09/07/1993

12

G-6 CONSTRUCTION PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

13

JDC (2010) PTE. LTD.

STRUCK OFF

DIRECTOR

02/07/2010

12/01/2012

14

JDC (2010) PTE. LTD.

STRUCK OFF

SHAREHOLDER

-

-

15

LENCO HOLDINGS PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

29/12/1998

30/05/2003

16

LENCO HOLDINGS PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

17

NICON DEVELOPMENT PTE LTD

STRUCK OFF

DIRECTOR

08/12/1994

07/04/2003

18

NICON DEVELOPMENT PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

19

OCEAN SKY GLOBAL (S) PTE. LTD.

LIVE COMPANY

DIRECTOR

28/02/2011

18/06/2013

20

OCEAN SKY GLOBAL (S) PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

18/06/2013

21

OCEAN SKY INTERNATIONAL LIMITED

LIVE COMPANY

SHAREHOLDER

-

18/06/2013

22

OCEAN SKY SCREEN PRINTING PTE. LTD.

STRUCK OFF

DIRECTOR

06/07/2004

14/10/2005

23

OCEAN SKY SCREEN PRINTING PTE. LTD.

STRUCK OFF

SHAREHOLDER

-

-

24

POLLY GARMENTS

TERMINATION

OWNER

08/04/1987

21/04/1988

25

POLLY GARMENTS PTE. LTD.

STRUCK OFF

DIRECTOR

26/02/1991

16/06/1992

26

SHINGUO CONSULTANCY PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

03/05/2013

27

SPO INTERNATIONAL PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

03/06/2003

08/06/2010

28

SPO INTERNATIONAL PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

09/09/2009

29

SUNGLOBE PTE LTD

LIVE COMPANY

DIRECTOR

10/04/1992

01/07/2013

30

SUNGLOBE PTE LTD

LIVE COMPANY

SHAREHOLDER

-

01/07/2013

31

TAT SENG CARS TRADING CO

TERMINATION

OWNER

06/04/1987

15/08/1989

32

TEMBUSU GROWTH FUND LTD.

LIVE COMPANY

SHAREHOLDER

-

17/03/2013

 

Bankruptcy Record

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Litigation Search – Writ of Summons

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

BLOOM TIME TRADING (2002) PTE. LTD.

100

BLOOM TIME SERVICES (SG) PTE. LTD.

100

ANG TONG SENG BROTHERS ENTERPRISES PTE LTD

30

                                                                                                                       

 

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

 

             

LITIGATION

 

there have been 7 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2013

Past Years

Bef 01 Jan 2013

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

5

District ($80,000 - $250,000)

0

2

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

29368

 

Transfer

:

-

 

Date of Filing

:

31/10/2012

 

Amount

:

0.00

 

Cause

:

Tort - Negligence (Motor Accidents With Injury)

 

Case Status

:

PENDING

 

Plaintiff

:

WANG WEI PANG

 

Last Update Date

:

01/11/2012

 

2)

Court

:

Magistrate Court

 

Case No.

:

30717

 

Transfer

:

-

 

Date of Filing

:

15/11/2010

 

Amount

:

0.00

 

Cause

:

Tort - Negligence (Motor Accidents Without Death/ Injury)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

WANG WEI PANG

 

Last Update Date

:

27/09/2011

 

3)

Court

:

Magistrate Court

 

Case No.

:

3473

 

Transfer

:

-

 

Date of Filing

:

16/02/2005

 

Amount

:

8,938.25

 

Cause

:

Tort - Negligence (Motor Accidents Without Death/ Injury)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

EBENEZER COFFEE MANUFACTURER PTE LTD

 

Last Update Date

:

23/01/2009

 

4)

Court

:

Magistrate Court

 

Case No.

:

30261

 

Transfer

:

-

 

Date of Filing

:

06/10/2001

 

Amount

:

0.00

 

Cause

:

Negligence - Motor Accidents (Not Injuries / Death)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

TONG KAM SENG @ BERNARD TONG KAM SENG

 

Last Update Date

:

23/01/2009

 

5)

Court

:

Magistrate Court

 

Case No.

:

14535

 

Transfer

:

-

 

Date of Filing

:

16/08/1996

 

Amount

:

1,287.83

 

Cause

:

Contracts - General

 

Case Status

:

CONCLUDED

 

Plaintiff

:

SHELL EASTERN PETROLEUM PTE LTD FK/A SHELL EASTERN PETROLEUMPTE LIMITED

 

Last Update Date

:

23/01/2009

 

6)

Court

:

District Court

 

Case No.

:

3444

 

Transfer

:

-

 

Date of Filing

:

26/08/1996

 

Amount

:

0.00

 

Cause

:

Landlord / Tenant (Non-Rent Controlled)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

HOUSING & DEVELOMENT BOARD

 

Last Update Date

:

23/01/2009

 

7)

Court

:

District Court

 

Case No.

:

889

 

Transfer

:

-

 

Date of Filing

:

01/03/1996

 

Amount

:

0.00

 

Cause

:

Landlord / Tenant (Non-Rent Controlled)

 

Case Status

:

CONCLUDED

 

Plaintiff

:

HOUSING & DEVELOPMENT BOARD

 

Last Update Date

:

23/01/2009

 

 

COMPLIANCE

 

Date of Last AGM

:

30/04/2013

Date of Last AR

:

30/05/2013

Date of A/C Laid At Last AGM

:

31/12/2012
 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING, ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

 

Note:

 

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

 

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

 

For more information: www.acra.gov.sg/compliance

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

DEC 2012

% Change

DEC 2011

DEC 2010

DEC 2009

DEC 2008

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

0

NA

0

310,615,681

301,826,597

346,147,442

Profit/(Loss) Before Tax

(1,456,905)

NA

(1,222,808)

12,472,635

5,759,416

2,370,438

Profit After Tax attributable to Shareholders

13,042,352

13.66

11,474,813

11,339,130

6,193,046

1,985,242

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

156,954,388

-4.98

165,180,812

183,657,708

172,382,330

191,371,950

Current Assets

149,828,142

20.37

124,475,357

135,668,137

114,776,525

122,688,509

Non Current Assets

7,126,246

-82.49

40,705,455

47,989,571

57,605,805

68,683,441

 

 

 

 

 

 

 

Total Liabilities

55,730,037

-26.66

75,991,133

92,228,915

80,054,141

108,029,889

Current Liabilities

55,627,842

-21.30

70,684,346

89,167,227

69,558,267

92,778,660

Non Current Liabilities

102,195

-98.07

5,306,787

3,061,688

10,495,874

15,251,229

 

 

 

 

 

 

 

Shareholders' Funds

101,224,352

13.49

89,189,679

91,428,793

92,328,189

83,342,060

Share Capital

36,570,928

8.72

33,638,527

36,459,936

38,981,558

37,798,609

Total Reserves

64,653,424

16.39

55,551,152

54,968,857

53,346,631

45,543,451

 

 

FINANCIAL RATIOS

 

 

Group

 

DEC 2012

DEC 2011

DEC 2010

DEC 2009

DEC 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

NA

-100.00

2.91

-12.80

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

NA

NA

3.65

2.05

0.57

Return on Equity (%)

12.88

12.87

12.40

6.71

2.38

Return on Assets (%)

8.31

6.95

6.17

3.59

1.04

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.55

0.85

1.01

0.87

1.30

Current Debt/Equity (Times)

0.55

0.79

0.98

0.75

1.11

Long Term Debt To Equity (Times)

0.00

0.06

0.03

0.11

0.18

Total Asset To Total Equity (Times)

1.55

1.85

2.01

1.87

2.30

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

NA

NA

1.69

1.75

1.81

Fixed Assets Turnover (Times)

NA

NA

6.47

5.24

5.04

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

2.69

1.76

1.52

1.65

1.32

 

 

FINANCIAL COMMENTARY

 

Profitability

We are unable to comment on Subject's profitability.

 

 

Liquidity

 

Current ratio stood at 2.69 times in FY12. This means that the group has SGD - SIN 2.69 of current assets for every SGD - SIN of current liability incurred.

 

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

 

Leverage

Total debt-to-equity ratio notched 0.55 times in FY12. This means that the group requires additional external financing of SGD - SIN 0.55 for every SGD - SIN injected into its operations.

 

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

 

 

Efficiency Ratio

 

 

Return on equity was 12.88 per cent for Subject in the current financial period. The return on equity measures the return earned on the owner's investment.  Generally, the higher this return, the better off the owner.

 

Return on assets stood at 8.31 per cent. The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

We are unable to comment on Subject's total assets turnover ratio.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.10

UK Pound

1

Rs.91.07

Euro

1

Rs.77.95

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.