MIRA
INFORM REPORT
|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
NHAT VIET AGRO CHEMICAL JOINT STOCK
COMPANY |
|
|
|
|
Registered Office : |
No. 12 Lane 167/31, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishments: |
2006 |
|
|
|
|
Com. Reg. No.: |
0102021457 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading in agricultural materials |
|
|
|
|
No. of Employees : |
40 |
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 : |
No Complaints |
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|
|
|
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
|
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|
|
||
Current legal status
|
||
|
English Name |
|
NHAT VIET AGRO CHEMICAL JOINT STOCK
COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN NONG DUOC NHAT VIET |
|
Short name |
|
NHAT VIETAG., JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2006 |
|
Business Registration No. |
|
0102021457 |
|
Date of Registration |
|
10 Feb 2011 |
|
Place of Registration |
|
Department of Planning and Investment of
Hanoi City |
|
Chartered capital |
|
VND 3,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0102021457 |
|
Total Employees |
|
40 |
|
Size |
|
Small |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 0103013672 Changed to: 0102021457 |
10
Feb 2011 |
|
|
||
Company ADDRESSES
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Head Office |
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|
Address |
|
No. 12 Lane 167/31, Tay Son Street, Dong
Da District, Ha Noi City, Vietnam |
|
Telephone |
|
(84 -4) 35333692 |
|
Fax |
|
(84-4) 35333693 |
|
Email |
|
|
|
|
||
|
Office in Ho Chi
Minh |
||
|
Address |
|
7/C3 Ly Chieu Hoang Residential Area, An Lac
ward, Binh Tan District, Ho Chi Minh City, Vietnam |
DIRECTORS
|
||
|
|
||
|
1.
NAME |
|
Ms.
NGUYEN THI XUYEN |
|
Position |
|
Director |
|
Date of Birth |
|
05 Jun 1959 |
|
ID Number/Passport |
|
012553894 |
|
ID Issue Date |
|
16 Sep 2002 |
|
ID Issue Place |
|
Hanoi City Police |
|
Resident |
|
No.12 Lane 167/31 Tay
Son Str., Dong Da District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Ms.
NGUYEN THI THUONG HUYEN |
|
Position |
|
Deputy Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
3.
NAME |
|
Mr.
NGUYEN ANH PHUONG |
|
Position |
|
Chief Accountant |
|
Nationality |
|
Vietnamese |
|
Tel/Mobile phone |
|
(84) 948 181 155 |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The subject specializes in: +Trading in agricultural materials |
|
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IMPORT & EXPORT ACTIVITIES
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IMPORT: |
||
|
·
Types of products |
|
Fertilizer and pesticide |
|
·
Market |
|
China, India, and Japan... |
|
·
Mode of payment |
|
L/C |
|
|
||
|
EXPORT: |
||
|
Note: Currently, the subject does not export |
||
|
|
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BANKERS
|
||
|
|
||
|
1.
VIET NAM BANK FOR AGRICULTURE AND RURAL DEVELOPMENT |
||
|
Address |
|
No.2 Lang Ha Street, Ba Dinh District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 37722771 |
|
Fax |
|
(84-4) 37722379 |
|
|
||
|
2.
VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK KHAM THIEN BRANCH |
||
|
Address |
|
No.92 Kham Thien Street, Kham Thien Ward, Dong Da District, Ha Noi
City, Vietnam |
|
Telephone |
|
(84-4) 35189774/75 |
|
Fax |
|
(84-4) 35189773 |
|
|
||
SHAREHOLDERS
|
||
|
|
||
|
1.
NAME |
|
Ms.
NGUYEN THI XUYEN |
|
Position |
|
Director |
|
Date of Birth |
|
05 Jun 1959 |
|
ID Number/Passport |
|
012553894 |
|
Issued on |
|
16 Sep 2002 |
|
Issued Place |
|
Hanoi City Police |
|
Resident |
|
No.12 Lane 167/31 Tay Son Str., Dong Da
District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 690,000,000 |
|
Percentage |
|
23% |
|
|
||
|
2.
NAME |
|
Mr.
HOANG DUC THUAN |
|
ID Number/Passport |
|
162072303 |
|
Resident |
|
Toan Thang Giao Tien Village, Giao Thuy
District, Nam Dinh Province, Vietnam |
|
Work phone |
|
(84-4) 38573948 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 450,000,000 |
|
Percentage |
|
15% |
|
|
||
|
3.
NAME |
|
Ms.
NGUYEN THI THANH |
|
ID Number/Passport |
|
161481916 |
|
Resident |
|
No. 365 Hoang Van Thu Str., Ba Trieu Ward,
, Nam Dinh Province, Vietnam |
|
Value of shares |
|
VND 460,000,000 |
|
Percentage |
|
15.33% |
|
|
||
|
4.
NAME |
|
Mr.
TRAN KHAC CHANH |
|
ID Number/Passport |
|
012553893 |
|
Resident |
|
No. 12. Lane 167/31 Tay Son Str., Dong Da
District, Ha Noi City, Vietnam |
|
Work phone |
|
(84-4) 38573948 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 1,100,000,000 |
|
Percentage |
|
36.67% |
|
|
||
|
5.
NAME |
|
Mr.
TRAN SON TUNG |
|
ID Number/Passport |
|
012553881 |
|
Resident |
|
No. 12. Lane 167/31 Tay Son Str., Quang
Trung Ward, Dong Da District, Ha Noi City, Vietnam |
|
Work phone |
|
(84-4) 38573948 |
|
Nationality |
|
Vietnamese |
|
Value of shares |
|
VND 150,000,000 |
|
Percentage |
|
5% |
FINANCIAL DATA
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet
date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
20,191,000,000 |
13,515,935,347 |
11,254,008,573 |
|
I. Cash and cash
equivalents |
894,000,000 |
798,400,648 |
56,905,251 |
|
1. Cash |
280,000,000 |
447,658,548 |
56,905,251 |
|
2. Cash equivalents |
614,000,000 |
350,742,100 |
0 |
|
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 |
5,381,000,000 |
5,749,150,601 |
738,980,009 |
|
1. Receivable from customers |
4,743,000,000 |
5,749,150,601 |
679,412,534 |
|
2. Prepayments to suppliers |
638,000,000 |
0 |
0 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
0 |
0 |
59,567,475 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
12,899,000,000 |
6,579,520,095 |
9,481,460,867 |
|
1. Inventories |
12,899,000,000 |
6,579,520,095 |
9,481,460,867 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
0 |
|
V. Other Current
Assets |
1,017,000,000 |
388,864,003 |
976,662,446 |
|
1. Short-term prepaid expenses |
0 |
0 |
590,814,375 |
|
2. VAT to be deducted |
1,017,000,000 |
388,864,003 |
385,848,071 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
0 |
0 |
0 |
|
B. LONG-TERM
ASSETS |
2,290,000,000 |
1,130,792,900 |
833,095,597 |
|
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
|
2,290,000,000 |
1,130,792,900 |
802,401,269 |
|
1. Tangible assets |
1,475,000,000 |
799,405,900 |
380,467,781 |
|
- Historical costs |
1,730,000,000 |
954,148,000 |
476,152,567 |
|
- Accumulated depreciation |
-255,000,000 |
-154,742,100 |
-95,684,786 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
815,000,000 |
331,387,000 |
421,933,488 |
|
- Initial costs |
1,140,000,000 |
528,543,000 |
481,543,725 |
|
- Accumulated amortization |
-325,000,000 |
-197,156,000 |
-59,610,237 |
|
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 |
30,694,328 |
|
1. Long-term prepaid expenses |
0 |
0 |
30,694,328 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
VI. Goodwill |
|
|
|
|
1. Goodwill |
|
|
|
|
TOTAL ASSETS |
22,481,000,000 |
14,646,728,247 |
12,087,104,170 |
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
13,081,000,000 |
8,424,335,986 |
9,110,264,002 |
|
I. Current
liabilities |
13,081,000,000 |
8,424,335,986 |
9,110,264,002 |
|
1. Short-term debts and loans |
5,795,000,000 |
3,824,650,000 |
3,061,000,000 |
|
2. Payable to suppliers |
5,072,000,000 |
4,451,793,986 |
4,753,508,680 |
|
3. Advances from customers |
978,000,000 |
147,892,000 |
977,360,558 |
|
4. Taxes and other obligations to the State Budget |
36,000,000 |
0 |
97,439,148 |
|
5. Payable to employees |
0 |
0 |
0 |
|
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 |
1,200,000,000 |
0 |
220,955,616 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
11. Bonus and welfare funds |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
0 |
0 |
0 |
|
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 |
0 |
0 |
0 |
|
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 Sale |
0 |
0 |
0 |
|
9. Science and technology development fund |
0 |
0 |
0 |
|
B- OWNER’S
EQUITY |
9,400,000,000 |
6,222,392,261 |
2,976,840,168 |
|
I. OWNER’S
EQUITY |
9,400,000,000 |
6,222,392,261 |
2,976,840,168 |
|
1. Capital |
3,000,000,000 |
3,000,000,000 |
3,000,000,000 |
|
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 |
6,400,000,000 |
3,222,392,261 |
-23,159,832 |
|
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 |
22,481,000,000 |
14,646,728,247 |
12,087,104,170 |
|
|
|||
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
46,856,000,000 |
20,424,541,140 |
8,379,154,720 |
|
2. Deduction item |
2,518,000,000 |
1,993,916,414 |
226,355,157 |
|
3. Net sale |
44,338,000,000 |
18,430,624,726 |
8,152,799,563 |
|
4. Costs of goods sold |
36,357,000,000 |
14,099,427,915 |
6,964,924,815 |
|
5. Gross profit |
7,981,000,000 |
4,331,196,811 |
1,187,874,748 |
|
6. Financial income |
0 |
58,243,000 |
1,194,957 |
|
7. Financial expenses |
0 |
267,485,200 |
342,642,783 |
|
- In which: Loan interest expenses |
0 |
0 |
224,396,176 |
|
8. Selling expenses |
3,021,000,000 |
1,394,140,200 |
505,254,468 |
|
9. Administrative overheads |
888,000,000 |
704,971,396 |
275,652,994 |
|
10. Net operating profit |
4,072,000,000 |
2,022,843,015 |
65,519,460 |
|
11. Other income |
97,000,000 |
0 |
0 |
|
12. Other expenses |
249,000,000 |
0 |
31,901,798 |
|
13. Other profit /(loss) |
-152,000,000 |
0 |
-31,901,798 |
|
14. Total accounting profit before tax |
3,920,000,000 |
2,022,843,015 |
33,617,662 |
|
15. Current corporate income tax |
980,000,000 |
505,710,754 |
9,412,945 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
2,940,000,000 |
1,517,132,261 |
24,204,717 |
|
|
||||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
1.54 |
1.60 |
1.24 |
1.56 |
|
Quick liquidity ratio |
0.56 |
0.82 |
0.19 |
0.82 |
|
Inventory circle |
2.82 |
2.14 |
0.73 |
7.71 |
|
Average receive period |
44.30 |
113.86 |
33.08 |
57.49 |
|
Utilizing asset performance |
1.97 |
1.26 |
0.67 |
2.53 |
|
Liability by total assets |
58.19 |
57.52 |
75.37 |
59.02 |
|
Liability by owner's equity |
139.16 |
135.39 |
306.04 |
219.47 |
|
Ebit / Total assets (ROA) |
17.44 |
13.81 |
2.13 |
13.30 |
|
Ebit / Owner's equity (ROE) |
41.70 |
32.51 |
8.67 |
35.73 |
|
Ebit / Total sale (NPM) |
8.37 |
9.90 |
3.08 |
7.62 |
|
Gross profit / Total sale (GPM) |
17.03 |
21.21 |
14.18 |
16.22 |
|
Note: The Average Industry was calculated by VietnamCredit based on our own
statistical data |
||||
|
|
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Normal |
|
Liquidity |
|
Low/Medium |
|
Payment status |
|
Normal |
|
Financial Situation |
|
Average |
|
Development trend |
|
Stable |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C |
|
Sale Methods |
|
Retailer and Wholesaler |
|
Public opinion |
|
Limited |
INTERPRETATION ON THE SCORES
|
|
|
|
NHAT
VIET AGRO CHEMICAL JOINT STOCK COMPANY is known as a small company in
the field of trading agro chemicals and materials. The subject was founded in
2006 in Hanoi City. Currently, it is operating under business registration
No. 0102021457 (as same as tax code) granted by Department of Planning and
Investment of Hanoi City. The chartered capital is now VND 3 billion and
contributed by 5 shareholders. Besides the subject, its owners have other
companies operating in the same field; one of them is THUAN THANH TRADING AND
SERVICE IMPORT- EXPORT COMPANY LIMITED. Head office of the subject is located
at No. 12 Lane 167/31, Tay Son Street – Quang Trung Ward - Dong Da District -
Ha Noi City. This is also the private house of Ms. Nguyen Thi Xuyen – the
director of the subject. We visited this office and its facilities seem not
to be professional. Besides head office, the subject has also an office in Ho
Chi Minh city. Total employees are now about 40 people working under the
management of Ms. Nguyen Thi Xuyen. In
order to serve for its business operation, the subject often imports
fertilizer and pesticide from China (mainly), India, Japan and some other
countries to supply into domestic market. Its product ranges include Javitin
18EC/ 36EC/ 100WP, Rholam 20EC/ 50WP,
Rholam Super 12EC/ 50SG, Javipas 450EC, Javigent
800WG, Accenta 50EC, Javidan 100WP, Repdor 250 EC, Marigold 0.36SL, Javibean 750WP, Riazor gold 110WP, JAVI Vil 50SC, JAVI Min 20SL/ 60WP, Grosate 480SC, Megafarm 50TB/ 200WP, Morgan 200BR, Sitto - nin 15 BR/ 15SL… According to the above financial data, we can see
that its business operation was effective year by year. Total assets of the
subject at the end of 2010 was VND 22,481 million, increased by 53.5%
compared with year 2009 and 305% compared with year 2006. Liabilities also
increased strongly in the past years. Especially, in 2008, liability by total
assets and liability by owner equity increased to 75.37% and 306.01%,
respectively. However, these numbers have downtrend in the last years and
they were being at acceptable level.
On its income statement,
total sales and profit after tax has the high growth rate. In 2010, the subject
reached VND 46,856 million of total sales and VND 2,940 million of profit
after tax. The profitability ratios were higher than the average industry
index but the liquidity ratios were normal. In an interview with Mr.
Phuong, Chief accountant of the subject, he refused the deeply information
about the subject company. The latest financial data is not available. Thus,
we have no comment about its financial situation in recent years. Generally,
the subject is a small company whose position is humble in the industry.
Caution is needed for medium - large transactions with the subject. |
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.57.73 |
|
UK Pound |
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.