|
Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIX FOUR SEVEN AERONAUTICS PROJECT CONSTRUCTION JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
127 Dinh Tien Hoang Street, Ward 3, Binh Thanh District, Ho Chi Minh City, |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Incorporation : |
2007 |
|
|
|
|
Com. Reg. No.: |
0305143877 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Construction of buildings |
|
|
|
|
No. of Employees : |
80 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 has
been transitioning from the rigidities of a centrally-planned economy since
1986. Vietnamese authorities have reaffirmed their commitment to economic
modernization in recent years. Vietnam joined the World Trade Organization in
January 2007, which has promoted more competitive, export-driven industries.
Vietnam became an official negotiating partner in the Trans-Pacific Partnership
trade agreement in 2010. Agriculture''s share of economic output has continued
to shrink from about 25% in 2000 to less than 22% in 2012, while industry''s
share increased from 36% to nearly 41% in the same period. State-owned
enterprises account for roughly 40% of GDP. 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 hurt Vietnam''s export-oriented economy, with GDP in 2012 growing at
5%, the slowest rate of growth since 1999. In 2012, however, exports increased
by more than 18%, year-on-year; several administrative actions brought the
trade deficit back into balance. Between 2008 and 2011, Vietnam''s managed
currency, the dong, was devalued in excess of 20%, but its value remained
stable in 2012. Foreign direct investment inflows fell 4.5% to $10.5 billion in
2012. Foreign donors have pledged $6.5 billion in new development assistance
for 2013. Hanoi has oscillated between promoting growth and emphasizing
macroeconomic stability in recent years. In February 2011, the Government
shifted policy away from policies aimed at achieving a high rate of economic
growth, which had stoked inflation, to those aimed at stabilizing the economy,
through tighter monetary and fiscal control. Although Vietnam unveiled a broad,
"three pillar" economic reform program in early 2012, proposing the
restructuring of public investment, state-owned enterprises, and the banking
sector, little perceptible progress had been made by early 2013. Vietnam''s
economy continues to face challenges from an undercapitalized banking sector.
Non-performing loans weigh heavily on banks and businesses. In September 2012,
the official bad debt ratio climbed to 8.8%, though some independent analysts
believe it could be higher than 15%.
Source
: CIA
SUBJECT IDENTIFICATION &
LEGAL FORM
|
||
|
|
||
Current legal status
|
||
|
English Name |
|
SIX FOUR SEVEN AERONAUTICS PROJECT
CONSTRUCTION JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN XAY DUNG CONG TRINH HANG KHONG
SAU BON BAY |
|
Trade name |
|
SIX FOUR SEVEN AERONAUTICS PROJECT CONSTRUCTION
JOINT STOCK COMPANY |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2007 |
|
Business Registration No. |
|
0305143877 |
|
Date of Registration |
|
19 Jun 2010 |
|
Place of Registration |
|
Business registration office – Planning
And Investment Department of Ho Chi Minh City |
|
Chartered capital |
|
VND 20,000,000,000 |
|
Tax code |
|
0305143877 |
|
Total Employees |
|
80 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 4103007664 issued on 29 Aug 2007 Changed to: 0305143877 |
19
Jun 2010 |
|
|
||
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
127 Dinh Tien Hoang Street, Ward 3, Binh
Thanh District, Ho Chi Minh City, Vietnam |
|
Telephone |
|
(84-8) 3551 2714 |
|
Fax |
|
(84-8) 3510 2753 |
|
Email |
|
|
|
Website |
|
|
|
|
||
DIRECTORS
|
||
|
|
||
|
NAME |
|
Mr.
NGUYEN CHIEN THANG |
|
Position |
|
Director |
|
Date of Birth |
|
21 Apr 1956 |
|
ID Number/Passport |
|
023147695 |
|
ID Issue Date |
|
30 Jul 1999 |
|
ID Issue Place |
|
Police station of Ho
Chi Minh City |
|
Resident |
|
32/F1 Nguyen Van
Luong Street, Ward 16, Go Vap District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
Construction
of buildings |
|
|
IMPORT & EXPORT ACTIVITIES
|
|
|
|
IMPORT: |
|
Note: N/A |
|
|
|
EXPORT: |
|
Note: N/A |
|
|
||
BANKERS
|
||
|
|
||
|
BANK
FOR INVESTMENT AND DEVELOPMENT OF VIETNAM |
||
|
Address |
|
No. 117 Nguyen Hue Street, Ben Nghe Ward, District 1, Ho Chi Minh
City, Vietnam |
|
Telephone |
|
(84-8) 3914 1729 |
|
Fax |
|
(84-8) 3914 1979 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
CONG
TY TNHH XAY DUNG SAN XUAT THUONG MAI VA DICH VU PHUC THINH |
|
Business Registration |
|
4602001022 |
|
Address |
|
Lot B2, No. 54, Tan Dong Hiep B IP, Di An
Town, Binh Duong Province, Vietnam |
|
Representative |
|
Mr. Nguyen Quoc
Khanh |
|
Number of shares |
|
719,300 |
|
Value of shares |
|
VND 7,193,000,000 |
|
Percentage |
|
35.97% |
|
|
||
|
2.
NAME |
|
CONG
TY CO PHAN CO KHI XAY DUNG CONG TRINH 623 |
|
Business Registration |
|
4103002717 |
|
Address |
|
127 Dinh Tien Hoang Street, Ward 3, Binh
Thanh District, Ho Chi Minh City, Vietnam |
|
Representative |
|
Mr. Hoang Minh
Dung |
|
Number of shares |
|
200,000 |
|
Value of shares |
|
VND 2,000,000,000 |
|
Percentage |
|
10% |
|
|
||
|
3.
NAME |
|
CONG
TY CO PHAN XAY DUNG CONG TRINH GIAO THONG 710 |
|
Business Registration |
|
4103002567 |
|
Address |
|
127 Dinh Tien Hoang Street, Ward 3, Binh
Thanh District, Ho Chi Minh City, Vietnam |
|
Representative |
|
Mr. Vo Phi Anh |
|
Number of shares |
|
200,000 |
|
Value of shares |
|
VND 2,000,000,000 |
|
Percentage |
|
10% |
|
|
||
|
4.
NAME |
|
CIVIL
ENGINEERING CONSTRUCTION CORPORATION No 6 |
|
Business Registration |
|
0300487137 |
|
Date of Registration |
|
25 Jan 2011 |
|
Place of Registration |
|
Business registration office - Planning and Investment Department of
Ho Chi Minh City |
|
Registered Capital |
|
VND 538,227,305,772 |
|
Tax code |
|
0300487137 |
|
Address |
|
127 Dinh Tien Hoang Str Ward 3, Binh Thanh District,
Ho Chi Minh City, Vietnam |
|
Tel |
|
(84 8) 3510 1863 -35101867 |
|
Fax |
|
(84 8) 3510 1858 |
|
Email |
|
|
|
Website |
|
|
|
Representative |
|
Mr. Nguyen Chien
Thang |
|
Number of shares |
|
165,700 |
|
Value of shares |
|
VND 1,657,000,000 |
|
Percentage |
|
8.29% |
|
|
||
|
5.
NAME |
|
674
CIVIL ENGINEERING JOINT STOCK COMPANY |
|
Business Registration |
|
1100111114 |
|
Date of Registration |
|
18 Sep 2009 |
|
Place of Registration |
|
Planning and Investment Department of Long An Province |
|
Tax code |
|
1100111114 |
|
Address |
|
No. 216 Highway 1, Ward 2, Tan An City, Long
An Province, Vietnam |
|
Representative |
|
Mr. Pham Quoc
Tan |
|
Number of shares |
|
115,000 |
|
Value of shares |
|
VND 1,150,000,000 |
|
Percentage |
|
5.74% |
|
|
||
|
6.
NAME |
|
Ms.
NGUYEN THI KIM CHUNG |
|
ID Number/Passport |
|
241000985 |
|
Issued Place |
|
Police station of Daak Lak Province |
|
Resident |
|
Group 8, Ea Tam Commune, Buon Ma Thuot
City, Dak Lak Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
520,000 |
|
Value of shares |
|
VND 5,200,000,000 |
|
Percentage |
|
26% |
|
|
||
|
7.
NAME |
|
Ms.
LE HONG THANH |
|
ID Number/Passport |
|
023037896 |
|
Issued Place |
|
Police station of Ho Chi Minh City |
|
Resident |
|
93/28 Hoang Hoa Tham Street, Ward 6, Binh Thanh
District, Ho Chi Minh City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
80,000 |
|
Value of shares |
|
VND 800,000,000 |
|
Percentage |
|
4% |
|
|
||
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 |
192,690,000,000 |
180,331,000,000 |
|
I. Cash and cash
equivalents |
13,276,000,000 |
2,490,000,000 |
|
1. Cash |
13,276,000,000 |
2,490,000,000 |
|
2. Cash equivalents |
0 |
0 |
|
II. Short-term
investments |
200,000,000 |
10,000,000,000 |
|
1. Short-term investments |
200,000,000 |
10,000,000,000 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
|
III. Accounts
receivable |
13,721,000,000 |
16,899,000,000 |
|
1. Receivable from customers |
6,407,000,000 |
13,001,000,000 |
|
2. Prepayments to suppliers |
7,091,000,000 |
3,647,000,000 |
|
3. Inter-company receivable |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
|
5. Other receivable |
223,000,000 |
251,000,000 |
|
6. Provisions for bad debts |
0 |
0 |
|
IV. Inventories |
151,281,000,000 |
131,993,000,000 |
|
1. Inventories |
151,281,000,000 |
131,993,000,000 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
|
V. Other Current
Assets |
14,212,000,000 |
18,949,000,000 |
|
1. Short-term prepaid expenses |
1,580,000,000 |
7,920,000,000 |
|
2. VAT to be deducted |
1,899,000,000 |
3,284,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
|
4. Other current assets |
10,733,000,000 |
7,745,000,000 |
|
B. LONG-TERM
ASSETS |
48,188,000,000 |
43,857,000,000 |
|
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
|
40,421,000,000 |
33,457,000,000 |
|
1. Tangible assets |
38,691,000,000 |
30,805,000,000 |
|
- Historical costs |
51,247,000,000 |
37,168,000,000 |
|
- Accumulated depreciation |
-12,556,000,000 |
-6,363,000,000 |
|
2. Financial leasehold assets |
1,724,000,000 |
2,090,000,000 |
|
- Historical costs |
2,200,000,000 |
2,200,000,000 |
|
- Accumulated depreciation |
-476,000,000 |
-110,000,000 |
|
3. Intangible assets |
6,000,000 |
10,000,000 |
|
- Initial costs |
20,000,000 |
20,000,000 |
|
- Accumulated amortization |
-14,000,000 |
-10,000,000 |
|
4. Construction-in-progress |
0 |
552,000,000 |
|
III. Investment property
|
0 |
0 |
|
Historical costs |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
|
IV. Long-term
investments |
5,300,000,000 |
5,300,000,000 |
|
1. Investments in affiliates |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
|
3. Other long-term investments |
5,300,000,000 |
5,300,000,000 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
|
V. Other
long-term assets |
2,467,000,000 |
5,100,000,000 |
|
1. Long-term prepaid expenses |
2,319,000,000 |
4,982,000,000 |
|
2. Deferred income tax assets |
0 |
0 |
|
3. Other long-term assets |
148,000,000 |
118,000,000 |
|
VI. Goodwill |
0 |
0 |
|
1. Goodwill |
0 |
0 |
|
TOTAL ASSETS |
240,878,000,000 |
224,188,000,000 |
|
|
||
LIABILITIES
|
||
|
A- LIABILITIES |
226,366,000,000 |
213,534,000,000 |
|
I. Current
liabilities |
216,344,000,000 |
207,633,000,000 |
|
1. Short-term debts and loans |
23,353,000,000 |
11,000,000,000 |
|
2. Payable to suppliers |
48,293,000,000 |
52,487,000,000 |
|
3. Advances from customers |
141,375,000,000 |
142,139,000,000 |
|
4. Taxes and other obligations to the State Budget |
2,494,000,000 |
1,340,000,000 |
|
5. Payable to employees |
181,000,000 |
385,000,000 |
|
6. Accrued expenses |
29,000,000 |
0 |
|
7. Inter-company payable |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
|
9. Other payable |
619,000,000 |
282,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
|
11. Bonus and welfare funds |
0 |
0 |
|
II. Long-Term
Liabilities |
10,022,000,000 |
5,901,000,000 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
|
3. Other long-term payable |
0 |
720,000,000 |
|
4. Long-term debts and loans |
7,498,000,000 |
5,152,000,000 |
|
5. Deferred income tax payable |
0 |
0 |
|
6. Provisions for unemployment allowances |
20,000,000 |
29,000,000 |
|
7. Provisions for long-term accounts payable |
2,504,000,000 |
0 |
|
8. Unearned Revenue |
0 |
0 |
|
9. Science and technology development fund |
0 |
0 |
|
B- OWNER’S
EQUITY |
14,512,000,000 |
10,654,000,000 |
|
I. OWNER’S
EQUITY |
14,376,000,000 |
10,710,000,000 |
|
1. Capital |
8,961,000,000 |
8,961,000,000 |
|
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 |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
|
9. Other funds |
0 |
0 |
|
10. Retained earnings |
5,415,000,000 |
1,749,000,000 |
|
11. Construction investment fund |
0 |
0 |
|
12. Business arrangement supporting fund |
0 |
0 |
|
II. Other
sources and funds |
136,000,000 |
-56,000,000 |
|
1. Bonus and welfare funds (Elder form) |
0 |
0 |
|
2. Sources of expenditure |
136,000,000 |
-56,000,000 |
|
3. Fund to form fixed assets |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
240,878,000,000 |
224,188,000,000 |
|
|
||
|
PROFIT
& LOSS STATEMENT |
||
|
|
||
|
Description |
FY2011 |
FY2010 |
|
1. Total Sales |
185,945,000,000 |
190,054,000,000 |
|
2. Deduction item |
0 |
0 |
|
3. Net revenue |
185,945,000,000 |
190,054,000,000 |
|
4. Costs of goods sold |
168,010,000,000 |
180,334,000,000 |
|
5. Gross profit |
17,935,000,000 |
9,720,000,000 |
|
6. Financial income |
1,735,000,000 |
1,201,000,000 |
|
7. Financial expenses |
1,993,000,000 |
731,000,000 |
|
- In which: Loan interest expenses |
1,808,000,000 |
604,000,000 |
|
8. Selling expenses |
0 |
0 |
|
9. Administrative overheads |
11,014,000,000 |
7,976,000,000 |
|
10. Net operating profit |
6,663,000,000 |
2,214,000,000 |
|
11. Other income |
372,000,000 |
451,000,000 |
|
12. Other expenses |
68,000,000 |
180,000,000 |
|
13. Other profit /(loss) |
304,000,000 |
271,000,000 |
|
14. Total accounting profit before tax |
6,967,000,000 |
2,485,000,000 |
|
15. Current corporate income tax |
1,742,000,000 |
736,000,000 |
|
16. Deferred corporate income tax |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
|
18. Profit after tax |
5,225,000,000 |
1,749,000,000 |
|
|
|||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2011 |
FY2010 |
Average Industry |
|
Current liquidity ratio |
0.89 |
0.87 |
1.49 |
|
Quick liquidity ratio |
0.19 |
0.23 |
0.76 |
|
Inventory circle |
1.19 |
1.37 |
4.15 |
|
Average receive period |
26.93 |
32.45 |
428.99 |
|
Utilizing asset performance |
0.77 |
0.85 |
0.47 |
|
Liability by total assets |
93.98 |
95.25 |
68.68 |
|
Liability by owner's equity |
1,559.85 |
2,004.26 |
399.20 |
|
Ebit / Total assets (ROA) |
3.64 |
1.38 |
4.58 |
|
Ebit / Owner's equity (ROE) |
60.47 |
28.99 |
22.45 |
|
Ebit / Total revenue (NPM) |
4.72 |
1.63 |
17.51 |
|
Gross profit / Total revenue (GPM) |
9.65 |
5.11 |
19.94 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
|||
|
|
|||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Low |
|
Payment status |
|
Average |
|
Financial Situation |
|
Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Through the bank |
|
Sale Methods |
|
To projects |
|
Public opinion |
|
Well-known |
|
|
|
INTERPRETATION ON THE SCORES |
|
|
|
The subject - SIX FOUR SEVEN AERONAUTICS PROJECT CONSTRUCTION JOINT
STOCK COMPANY was established in 2007. At present, the subject is
operating under business registration No. 0305143877 (the same with tax code) and registered capital VND 20,000,000,000. The subject is one of member of CIVIL ENGINEERING CONSTRUCTION CORPORATION
No 6 (CIENCO 6). The subject is
specializing in building airport construction, harbor, transport constructions, civil works, hydropower
projects, supplying construction consultancy services… The subject has joined
many projects such as: Can Tho Airport, Can Tho Station, leveling
international terminal of Tan Son Nhat Airport, upgrading aircraft parking of Tan Son Nhat Airport, Da Nang Airport, Lien Khuong
Airport, Phu Quoc Airport… The premised and facility of the subject is relative. Its head office located at 127 Dinh Tien Hoang Street, Ward 3, Binh Thanh District, Ho Chi Minh City, Vietnam. Beside the subject, this location also office of many companies - members of CIENCO 6 such as CONG TY CO PHAN XAY DUNG CONG TRINH GIAO THONG 710, CONG TY CO PHAN CO KHI XAY DUNG CONG TRINH 623… In general, the
subject operates fair effective with over 80 employees. It received great
support from CIENCO 6. In our opinion, the subject has capacity to meet all
small – medium transactions. |
------------ APPENDIX ----------
INDUSTRY DATA
|
||||||
|
|
||||||
|
Industry code |
GDP growth speed
by price compared with 1994 (%) |
Total
enterprises 2010 |
Total employees
2011 (Thous.pers.) |
Annual average
capital of enterprises 2010 (billion dongs) |
||
|
2012 |
2011 |
|||||
|
Agriculture,
Forestry and Fishing |
2.72 |
4.00 |
8,887 |
24,362.9 |
95,227 |
|
|
Industry and
Construction |
4.52 |
5.53 |
95,217 |
10,718.9 |
3,641,376 |
|
|
Trade and
Services |
6.42 |
6.69 |
187,195 |
15,270.2 |
6,957,082 |
|
|
|
||||||
ECONOMIC INDICATORS
|
||||||
|
|
||||||
|
|
2012 |
2011 |
2010 |
|||
|
Population (Million person) |
88.78 |
87.84 |
86.93 |
|||
|
Gross Domestic Products (USD
billion) |
136 |
119 |
102.2 |
|||
|
GDP Growth (%) |
5.03 |
5.89 |
6.78 |
|||
|
GDP Per Capita
(USD/person/year) |
1,540 |
1,300 |
1,160 |
|||
|
Inflation (% Change in Composite
CPI) |
9.21 |
18.58 |
11.75 |
|||
|
State Budget Deficit compared
with GDP (%) |
4.8 |
4.9 |
5.8 |
|||
|
|
||||||
SERVICE TRADE PERFORMANCE
|
||||||
|
|
||||||
|
Billion USD |
2012 |
2011 |
2010 |
|||
|
Exports |
114.6 |
96.3 |
72.2 |
|||
|
Imports |
114.3 |
105.8 |
84.8 |
|||
|
Trade Balance |
0.3 |
-9.5 |
-12.6 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
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.