MIRA INFORM REPORT

 

 

Report Date :

12.11.2013

 

IDENTIFICATION DETAILS

 

Name :

HENRIFARMA PRODUTOS QUIMICOS E FARMACEUTICOS LTDA

 

 

Registered Office :

Rua Freire Da Silva, 209 E 217 - Vila Monumento 01523-020 - São Paulo/Sp

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

05.06.1963

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale of Chemical and Pharmaceutical Products

 

 

No. of Employees :

53

 

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)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

brazil - ECONOMIC OVERVIEW

 

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% in 2011, and 1.3% in 2012. Unemployment is at historic lows and Brazil's traditionally high level of income inequality has declined for each of the last 14 years. Brazil's historically high interest rates have made it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchange markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint. In an effort to boost growth, in 2012 the administration implemented a somewhat more expansionary monetary policy that has failed to stimulate much growth

 

Source : CIA

 

company name

 

HENRIFARMA PRODUTOS QUIMICOS E FARMACEUTICOS LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

RUA FREIRE DA SILVA, 209 E 217 - VILA MONUMENTO

ZIP CODE/CITY:

01523-020 - SÃO PAULO/SP

 

 

PHONE:

11 3385-2007

FAX:

11 3385-2007

E-MAIL:

laercio@henrifarma.com.br

WEB SITE:

www.henrifarma.com.br

 

BRANCHES:

 

 

 

ADDRESS:

RUA MACHADO DE ASSIS, 137/141 - VILA MARIANA

ZIP CODE/CITY:

04106-000 SÃO PAULO/SP

 

 

ADDRESS:

RUA JOSÉ BENTO, 125 - CAMBUCI

ZIP CODE/CITY:

01523-030 SÃO PAULO/SP

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

WHOLESALE OF CHEMICAL AND PHARMACEUTICAL PRODUCTS.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

05/06/1963

REGISTER DATE:

13/08/1963

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

61.074.662/0001-09

STATE REGISTER:

105.285.583.114

 

 

SHARE CAPITAL:

R$ 500.000,00

LAST REGISTER OF CAPITAL:

07/08/1998

 

BOARD OF DIRECTORS:

 

 

 

RUBENS HENRIQUES

MANAGING PARTNER

MARIA APPARECIDA GONÇALVES DE ARAÚJO HENRIQUES

MANAGING PARTNER

MERCEDES MARQUES HENRIQUES

MANAGING PARTNER

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGING PARTNERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

MARIA APPARECIDA GONÇALVES DE ARAÚJO HENRIQUES

R$ 198.800,00

MERCEDES MARQUES HENRIQUES

R$ 198.800,00

RUBENS HENRIQUES

R$  39.800,00

MARCIA ANDREA HENRIQUES PAPATERRA LIMONGI

R$  31.300,00

SUELI GUIDA BERLANGA HENRIQUES

R$  31.300,00

 

AFFILIATES / SUBSIDIARIES:

 

 

 

A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS/HAVE THE FOLLOWING UNCONFIRMED HOLDINGS:

 

 

HENRIQUES & PAPATERRA LTDA - M.E.

 

GUIDA - EMPREENDIMENTOS IMOBILIÁRIOS LTDA

 

M.M.H. EMPREENDIMENTOS E PARTICIPAÇÕES LTDA

 

HENRI-MÓVEIS PARTICIPAÇÕES LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON JUNE 05, 1963 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

TRADE NAME: "HENRIFARMA".

 

PARTNERS:

 

MARIA APPARECIDA GONÇALVES DE ARAÚJO HENRIQUES: BRAZILIAN, HOLDER OF DOCUMENTS CPF 393.178.298-05 AND RG 25490217, RESIDENTIAL ADDRESS AT RUA FRANCA PINTO, 718, APTO. 11, VILA MARIANA, ZIP CODE 04016-003, SÃO PAULO/SP;

 

MERCEDES MARQUES HENRIQUES: BRAZILIAN, HOLDER OF DOCUMENTS CPF 116.466.048-90 AND RG 3113537, RESIDENTIAL ADDRESS AT ALAMEDA SANTOS, 545, APTO. 11, CERQUEIRA CÉSAR, ZIP CODE 01419-001, SÃO PAULO/SP;

 

RUBENS HENRIQUES: BRAZILIAN, HOLDER OF DOCUMENTS CPF 037.068.508-34 AND RG 1725553, RESIDENTIAL ADDRESS AT RUA MACHADO DE ASSIS, 137, APTO. 21, VILA MARIANA, ZIP CODE 04106-010, SÃO PAULO/SP;

 

MARCIA ANDREA HENRIQUES PAPATERRA LIMONGI: BRAZILIAN, HOLDER OF DOCUMENTS CPF 031.836.278-33 AND RG 4592359, RESIDENTIAL ADDRESS AT RUA ACUTIRANHA, 374, APTO. 52, JARDIM PANORAMA, ZIP CODE 05679-000, SÃO PAULO/SP;

 

SUELI GUIDA BERLANGA HENRIQUES: BRAZILIAN, HOLDER OF DOCUMENTS CPF 214.208.458-37 AND RG 6035678, RESIDENTIAL ADDRESS AT RUA ACUTIRANHA, 374, JARDIM PANORAMA, ZIP CODE 05679-000, SÃO PAULO/SP.

 

FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY ARE SO FAR NOT KNOWN.

 

PUBLIC INFORMATION:

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

STATE LAWSUIT

30/03/11

VARA DE SP-FISC. EST.

 

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/12/2012, 31/12/2011 AND 31/12/2010.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2012

31/12/2011

31/12/2010

 

 

 

 

CASH AND CASH EQUIVALENTS

268.563,47

223.923,09

689.856,67

CLIENTS

1.625.217,49

1.309.036,82

1.125.704,13

INVENTORY

3.492.373,70

3.986.004,10

3.103.266,70

ADVANCES

1.024.204,01

17.720,27

21.528,06

RECOVERABLE TAXES

217.115,63

612.568,24

284,06

IMPORTS IN PROGRESS

 

6.502,39

24.707,09

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

6.627.474,30

6.155.754,91

4.965.346,71

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

COMPULSORY LOANS

61.567,86

58.403,82

54.357,65

JUDICIAL DEPOSITS

2.633,22

16.633,22

16.633,22

TAX BENEFITS

27.980,69

27.980,69

27.980,69

 

----------------

----------------

----------------

TOTAL LONG-TERM RECEIVABLES

92.181,77

103.017,73

98.971,56

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

516.137,80

565.708,70

654.628,27

 

----------------

----------------

----------------

TOTAL FIXED ASSETS

516.137,80

565.708,70

654.628,27

 

================

================

================

TOTAL ASSETS

7.235.793,87

6.824.481,34

5.718.946,54

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2012

31/12/2011

31/12/2010

 

 

 

 

SUPPLIERS

1.232.335,46

1.037.351,75

776.272,95

LOANS AND FINANCING

2.559.683,75

2.197.004,90

2.107.366,06

SALARY, TAXES & CONTRIB.

44.338,57

423.934,08

861.560,15

ACCOUNTS PAYABLE

83.628,78

80.334,16

69.988,34

TRIBUTARY OBLIGATIONS

247.092,66

 

 

INSTALLMENTS TAXES PAYABLE

106.005,83

 

 

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

4.273.085,05

3.738.624,89

3.815.187,50

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

LOANS AND FINANCING

1.341.997,31

1.394.133,94

442.170,37

INSTALLMENTS TAXES PAYABLE

856.599,48

1.003.359,82

840.616,03

 

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

2.198.596,79

2.397.493,76

1.282.786,40

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

500.000,00

500.000,00

500.000,00

CAPITAL RESERVES

16.007,40

16.007,40

16.007,40

ACCRUED PROFIT (LOSS)

248.104,63

172.355,29

104.965,24

 

----------------

----------------

----------------

TOTAL NET EQUITY

764.112,03

688.362,69

620.972,64

 

================

================

================

TOTAL LIABILITIES

7.235.793,87

6.824.481,34

5.718.946,54

 

PROFIT AND LOSS ACCOUNTS AS OF 31/12/2012, 31/12/2011 AND 31/12/2010.

( FIGURES ARE IN REAIS ).

 

 

31/12/2012

31/12/2011

31/12/2010

 

 

 

 

GROSS SALES

14.885.576,41

13.325.821,01

14.620.444,22

(-) TAXES ON SALES

3.107.871,02

2.803.324,65

3.007.113,69

 

----------------

----------------

----------------

NET SALES

11.777.705,39

10.522.496,36

11.613.330,53

(-) COST OF SOLD GOODS

6.195.053,63

4.739.006,44

5.052.046,65

 

----------------

----------------

----------------

GROSS PROFIT

5.582.651,76

5.783.489,92

6.561.283,88

OPERATING REVENUE (EXPENSE)

-4.381.833,43

-4.745.052,53

-5.553.782,10

FINANCIAL REVENUE(EXPENSE)

-1.074.918,38

-946.554,42

-918.068,67

 

----------------

----------------

----------------

OPERATIONAL PROFIT (LOSS)

125.899,95

91.882,97

89.433,11

CONTRIBUTION/INCOME TAX

-50.150,61

-24.492,92

-35.033,11

 

----------------

----------------

----------------

NET PROFIT (LOSS)

75.749,34

67.390,05

54.400,00

 

MONTHLY SALES

 

  2013

 

 

 

---------------------

 

 

JANUARY

R$ 1.258.539,18

 

 

FEBRUARY

R$ 1.081.148,65

 

 

MARCH

R$ 1.440.332,65

 

 

APRIL

R$ 1.284.689,81

 

 

MAY

R$ 1.333.578,63

 

 

JUNE

R$ 1.457.581,64

 

 

JULY

R$ 1.575.962,96

 

 

AUGUST

R$ 1.456.133,14

 

 

SEPTEMBER

R$ 1.401.832,50

 

 

OCTOBER

R$ 1.331.128,00

 

 

NOVEMBER

 

 

 

DECEMBER

 

 

 

TOTAL

R$ 13.620.927,16

 

 

 

RATIOS:

31/12/2012

31/12/2011

31/12/2010

 

QUICK RATIO

,73

 

,58

 

,49

 

CURRENT RATIO

1,55

 

1,65

 

1,30

 

ACCOUNTS RECEIVABLE TURNOVER

7,25

TIMES

8,04

TIMES

10,32

TIMES

DAYS' SALES IN RECEIVABLES

49,68

DAYS

44,79

DAYS

34,90

DAYS

INVENTORY TURNOVER

1,77

TIMES

1,19

TIMES

1,63

TIMES

ACCOUNTS PAYABLE PERIOD

71,61

DAYS

78,80

DAYS

55,32

DAYS

RETURN ON ASSETS

1,63

TIMES

1,54

TIMES

2,03

TIMES

SALES TURNOVER ON NET EQUITY

15,41

TIMES

15,29

TIMES

18,70

TIMES

NET WORTH TIE-UP

,68

 

,82

 

1,05

 

INDEBTEDNESS

8,47

 

8,91

 

8,21

 

EQUITY RATIO

10,56

%

10,09

%

10,86

%

WORKING CAPITAL RATIO

55,10

%

64,65

%

30,15

%

GENERAL SOLVENCY

1,12

 

1,11

 

1,12

 

RETURN ON NET EQUITY

9,91

%

9,79

%

8,76

%

RETURN ON SALES (PROFIT MARGIN)

,64

%

,64

%

,47

%

GROSS PROFIT MARGIN

47,40

%

54,96

%

56,50

%

OPERATIONAL RESULT

1,07

%

,87

%

,77

%

SALES TURNOVER ON LIABILITIES

2,76

TIMES

2,81

TIMES

3,04

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,31

 - OFFICIAL RATE ON 08/11/2013

US$ 1,00 = R$ 2,04

 - OFFICIAL RATE ON 31/12/2012

US$ 1,00 = R$ 1,87

 - OFFICIAL RATE ON 31/12/2011

US$ 1,00 = R$ 1,66

 - OFFICIAL RATE ON 31/12/2010

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS.

 

THE FIGURES AVAILABLE SHOW A SATISFACTORY FINANCIAL STANDING. IT SHOWS HIGH LEVEL OF INDEBTEDNESS DUE TO ITS HIGH TRADE AND FINANCIAL DEBTS BUT IT IS NOTED GOOD CURRENT RATIO AND POSITIVE WORKING CAPITAL AMOUNT. IN ADDITION IT SHOWS SALES RECOVER AND MADE PROFIT. SO FAR NO SIGNS OF FINANCIAL OR OPERATIONAL PROBLEMS ARE NOTED.

 

REAL ESTATE:

 

NOT AVAILABLE

 

VEHICLES:

 

OWNED VEHICLES ARE VALUED AT R$ 46.800,00

 

MACHINES:

 

NOT AVAILABLE

 

 

INSURANCE

 

INSURANCE COMPANY:

PORTO SEGURO CIA. DE SEGUROS GERAIS.

COVERAGE:

INVENTORY, BUILDING AND OTHER FIXED ASSETS ARE COVERED AGAINST THEFT AND FIRE

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO BRADESCO S/A

11 3209-9733

SÃO PAULO/SP

BANCO DO BRASIL S/A

2065-4057

 

BANCO ITAU S/A

2615-9944

 

BANCO SAFRA S/A

3178-2246

 

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK"). DATE RESEARCHED NOVEMBER 08, 2013.

 

 

ACTIVITIES COMMENTS

 

 

THE SUBJECT IS ENGAGED IN THE WHOLESALE AND RETAIL SALE OF CHEMICAL AND PHARMACEUTICAL PRODUCTS. THE PRODUCTS ARE SOLD MAINLY TO HOSPITAL, DRUGSTORES, LABORATORIES, UNIVERSITIES AND RELATED CLIENTS. PRODUCTS ARE ALSO SOLD TO CHEMICAL INDUSTRIES, PHARMACEUTICAL INDUSTRIES AND THE INDUSTRIES OF COSMETICS AND VETERINARY PRODUCTS.

 

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

SWITZERLAND, ITALY, GERMANY, INDIA, SPAIN, DENMARK AND CHINA.

 

EXPORTS TO:

DOES NOT EXPORT.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

AKZO NOBEL LTDA

 

 

BAYER S/A

 

 

BOTICA AO VEADO D´OURO LTDA

 

 

EMS S/A

 

 

FUNEED - FUNDAÇÃO EZEQUIEL DIAS

 

 

FURP - FUNDAÇÃO PARA O REMÉDIO POPULAR

 

 

HOSPITAL DAS CLÍNICAS DE SÃO PAULO

 

 

INDUSTRIA E COMERCIO DE COSMETICOS NATURA LTDA

 

 

LABORATIRIO TEUTO BRASILEIRO S/A

 

 

 

STAFF:

 

THE COMPANY HAS: 53 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1963. SO FAR IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOR, ENJOYING A FAVORABLE REPUTATION AMONG LOCAL TRADE SOURCES.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

THE LAWSUIT REPORTED IS NOT RELATED WITH TRADE DEBT. IT IS RELATED TO TAX DEBT THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUIT DOES NOT AFFECT THE COMPANY'S TRADE REPUTATION.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

 

AGRO QUÍMICA MARINGÁ S/A

 

 

BUSCHLE & LEPPER S/A

 

41 3275-9669

CRODA DO BRASIL LTDA

 

19 3765-3506

EKA QUÍMICA S/A

 

11 5585-3671

GIMBA SUPRIM. ESCRIT. INFORMAT. LTDA

 

 

IQ SOLUÇÕES & QUÍMICA S/A

 

 

ISP DO BRASIL LTDA

 

11 3649-0458

LABSYNTH PRODUTOS PARA LABORATÓRIOS LTDA

 

11 4072-6115

MAKENI CHEMICALS COM. IND. PROD. QUÍMICOS LTDA

 

 

PLURY QUÍMICA LTDA

 

 

QUIMER COMERCIAL LTDA

 

11 2955-8800

QUIMVALE QUÍMICA INDUSTRIAL VALE DO PARAÍBA LTDA

 

24 2447-2800

 

PAYMENT HISTORY:

 

2 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 9.590,00

 

AMOUNT OF INVOICES PAID: 9

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 4.200,00

HIGHEST CREDIT: R$ 4.200,00

 

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS. IT IS A FAMILY-RUN. UP TO DATE IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOUR.

 

BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH.

 

A CREDIT LIMIT OF USD 200.000,00 MAY BE CONSIDERED. HIGHER AMOUNTS SHOULD BE GRANTED WITH SOME CAUTION AS SUBJECT HAS A LOW NET EQUITY AMOUNT AND ONLY THE EXPRESSIVE AND GROWING SALES ARE THE MAIN SOURCE TO GENERATE THE FUNDS NECESSARY TO FACE THE FINANCIAL AND TRADE COMMITMENTS.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.30

UK Pound

1

Rs.101.36

Euro

1

Rs.84.60

 

 

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%)

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.