|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
CARATCO (PTY) LTD |
|
|
|
|
Registered Office : |
1st Floor Block C The Pivot1 Montecasino,
Boulevard Fourwasy Johannesburg 2055 |
|
|
|
|
Country : |
South Africa |
|
|
|
|
Date of Incorporation : |
24.07.2003 |
|
|
|
|
Com. Reg. No.: |
M2003/017551/07 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Wholesale trade in precious stones, jewellery and silverware |
|
|
|
|
No. of Employees : |
95 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
South Africa ECONOMIC OVERVIEW
South Africa is a middle-income,
emerging market with an abundant supply of natural resources; well-developed financial,
legal, communications, energy, and transport sectors and a stock exchange that
is the 15th largest in the world. Even though the country possesses modern
infrastructure that support a relatively efficient distribution of goods to
major urban centers throughout the region, some components retard growth. The
economy began to slow in the second half of 2007 due to an electricity crisis.
State power supplier Eskom encountered problems with
aging plants and meeting electricity demand necessitating "load-shedding"
cuts in 2007 and 2008 to residents and businesses in the major cities.
Subsequently, the global financial crisis reduced commodity prices and world
demand. GDP fell nearly 2% in 2009 but has recovered since then. Unemployment,
poverty, and inequality remain a challenge, with official unemployment at
nearly 25% of the work force. State power supplier Eskom
has built two new power stations and installed new power demand management
programs to improve power grid reliability. South Africa's economic policy has
focused on controlling inflation, however, the country has had significant
budget deficits that restrict its ability to deal with pressing economic
problems. The current government faces growing pressure from special interest
groups to use state-owned enterprises to deliver basic services to low-income
areas and to increase job growth.
|
Source : CIA |
|
Subject Name |
CARATCO (PTY)LTD |
|
Country |
SOUTH AFRICA |
|
Enquiry Terms |
30 Days |
|
Account Review |
Recommended Every 6 Months |
|
Subject Contact Person |
WES MAKAVINI-Financial director |
|
Assessment |
This is a well-established business. On investigation we made contact with WES MAKOVINI the financial director who assisted with all of the information required. The subject is meeting commitments timeously with suppliers. Please see the available information on the subject below. |
|
Registered Name |
CARATCO (PTY)LTD |
|
Trading as/ Division Name |
PANDA DIAMONDS |
|
Previous Name |
None |
|
Date of Name Change |
None |
|
Registration Number |
M2003/017551/07 |
|
Registration Date |
2003/07/24 |
|
Date Commenced Trading |
2003-07-24 |
|
Age of Business |
10 Years 4 Months |
|
History of Business |
The business was established in 2003 |
|
History of Principals |
There is currently 4 active directors within the subject. |
|
Shareholders/Members/Partners of subject and % holding |
50%-TIMOTHY WATSON50%-ROSY BLUE INVESTMENT |
|
Authorised Share Capital |
R 0.00 |
|
Issued Share Capital/Members Contribution |
R 0.00 |
|
Status |
In Business |
|
Operations Assessment |
The subject main operation is wholesale and retail of jewelery |
|
Industry/ Customers |
The general Public and all major Jewellery stores |
|
Export |
Yes |
|
Export Countries |
Mauritania |
|
Import |
Yes |
|
Import Countries |
Belgium, Hong Kong, India |
|
Major Industry Code / SICC |
61393 |
|
Definition of Code |
Wholesale trade in precious stones, jewellery and silverware |
|
Head Office Physical Address |
1st Floor Block C The Pivot1 Montecasino BoulevardFourwasyJohannesburg2055 |
|
Head Office Postal Address |
P O BOX 71511Bryanston2021 |
|
Current Tel Number |
0110119100 |
|
Cell Number |
None |
|
Current Fax Number |
0110119790 |
|
Current Email Address |
|
|
Web Site Address |
|
Company Registered Name |
HARRIS DOWDEN AND FONTEINE |
|
Trading Name |
Unavailable |
|
Registration Number |
Unavailable |
|
Physical Address |
7 Pam RoadMorningsideSandton2196 |
|
Postal Address |
P O BOX 651129Benmore2010 |
|
Contact Person |
Brian Dowden |
|
Contact Number |
0118847373 |
|
Email |
|
|
Principals |
3 |
|
Judgements Against Subject |
No found on file |
|
Judgements Against
Principals |
No found on file |
|
Subject Verified as Client |
Yes |
|
Practice Number |
943703 |
|
VAT Number |
4460135777 |
|
Tax Number |
Unavailable |
|
BEE Status |
Unavailable |
|
Financial Year End |
February |
|
No of years in Business |
20 Years |
|
Website |
Unavailable |
Previous Auditors Information - No Information on Record
|
Vat Number |
4100105362 |
|
Status |
ACTIVE |
|
Tax Number |
9457029842 |
|
Financial Year End |
December |
|
Registered |
Yes |
|
Compliance Certified |
Yes |
Subsidiaries
|
Subsidiary Company |
TROPICAL COLLECT (PTY) LTD |
|
Shareholding |
100% |
|
Registration Number |
2006/011015/07 |
|
|
|
|
Subsidiary Company |
ADARA JEWELLERY (PTY) LTD |
|
Shareholding |
100% |
|
Registration Number |
1997/021416/07 |
|
|
|
|
Subsidiary Company |
AURUM DESIGN (PTY) LTD |
|
Shareholding |
50%o |
|
Registration Number |
2006/009932/07 |
|
Employees |
|
|
Number of Employees |
95 |
|
1. Salaried employees |
95 |
|
2. Waged employees |
-- |
|
3. Permanent employees |
95 |
Company Fleet
|
Company Fleet |
No of vehicles: |
Owned/Leased |
Value |
Outstanding Balance |
|
Fleet Operations |
|
|
|
|
|
The Fleet is made up of |
3 |
|||
|
Comment |
The subject has 3 owned cars and 1 leased |
|||
|
Cars |
3 |
Owned |
|
|
Offices
|
Offices |
Offices |
|
|
Head Office Owned/ Rented |
Leased |
|
|
Rental Company |
ABREAL(PTY) LTD |
|
|
Type of Premises |
Offices and Retail Showrooms |
|
|
Comment |
|
|
|
Branch
Information |
||
|
Branches Names |
Country |
Province |
|
PANDA DIAMONDS |
South Africa |
WESTERN CAPE |
|
JEWEL AFRICA |
South Africa |
WESTERN CAPE |
|
Branch Detail
Information |
||
|
Branches Owned/ Rented |
Leased |
|
|
Rental Company |
PUBLIC INVESTMENT COOPERATION |
|
|
Type of Premises |
Offices and retail showroom |
|
|
|
||
|
Branches Owned/ Rented |
Leased |
|
|
Rental Company |
ORO PROPERTIES |
|
|
Type of Premises |
Offices and retail showroom |
|
Organisation Chart
Level Position Name
1 CEO TIMOTHY WATSON
2 FINANCIAL DIRECTOR WES MAKOVINI
Company Structure
(Ownership)
Note: One level up and all
levels down
|
Holding |
Company |
Sub |
Comment |
|
50%-TIMOTHY WATSON |
CARATCO (PTY)LTD |
|
|
|
50%-ROSY BLUE INVESTMENT |
CARATCO (PTY)LTD |
|
|
Key Deals - No
Information on Record
Trade References
|
Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
Comment |
|
1 |
MEGA FREIGHT |
0119711000 |
|
|
|
|
2 |
EGL |
0113344527 |
|
|
|
|
3 |
KUROTATWA BROTHERS |
0214225077 |
|
|
|
Trade References Detail
|
Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1 |
6 Years |
R 2000000.00 |
R 2000000 |
30 Days |
R 600000 |
30 Days |
Good account |
|
2 |
9 Years |
|
|
30 Days |
R 92000 |
30 Days |
Good account,The subject has an open credit limit with the
supplier |
|
3 |
12 Years |
|
|
90 Days |
R 2000000 |
90 Days |
Excellent account,the subject has an open credit limit with the
supplier |
Adverse
Information on Subject
Judgements - No information on record
Business Rescue - No Information on Record
Default Listing - No information on record
Notarial Bonds - No information on record
|
Bank |
NEDBANK |
|
Branch |
DIAMOND EXCHANGE |
|
Brach Code |
198765 |
|
Bank Account Number |
1932269835 |
|
Type of Account |
CURRENT |
|
Account Name |
CARATCO (PTY)LTD |
|
Overdraft Facilities |
NONE |
|
Bank Code |
C- FOR R2000000 |
|
Bank Comment |
The subject's bankers consider them good for all business normal
engagements |
Bank Code History - No Information on Record
Previous Bank Account Information - No Information on Record
Deeds Information - No information on record
|
CURRENT ASSETS |
R132000000.00 |
|
FIXED ASSETS |
R 5000000.00 |
|
CURRENT LIABILITIES |
R 47000000.00 |
|
LONG TERM LIABILITIES |
R 9000000.00 |
|
Please note the following: |
|
|
Turnover and assets less than R
1,000,000.00 |
The subject falls within the National Credit Act |
|
Turnover and assets less than R
2,000,000.00 |
The subject falls within the Consumer Protection Act |
|
Number of Principals |
4 |
|
Average Age of Active Principals |
47 |
Active Principals
Principal - 1 of 4 VISHAL MEHTA
|
Surname |
MEHTA |
|
First Name |
VISHAL |
|
Other Names |
NONE |
|
Marital Status |
|
|
ID Number |
8004020000000 |
|
Verified ID Number |
No |
|
Current Age |
33 Years 7 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2007/08/23 |
|
Physical Address (at time of Appointment) |
APARTMENT 2708, MICHELANGELO TOWERS 8, MAUDE STREET, SANDTON, 2196 |
|
Postal Address |
P O BOX 2326, JOHANNESBURG, Gauteng, 2000 |
|
Current Tel Number |
0110119100 |
|
Cell number |
NONE |
Principal's
Adverse - No information on record
Business Information
for VISHAL MEHTA
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARATCO (PTY)LTD |
M2003/017551/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
EPISTEME COAL SA
(PTY)LTD |
M2008/006308/07 |
In Business |
5 Years 5 Months |
0 |
No |
|
|
EPISTEME PARTNERS (PTY)LTD |
2007/030856/07 |
In Business |
6 Years 6 Months |
0 |
No |
|
|
ROSY BLUE WIRELESS AFRICA (PTY)LTD |
M2007/032193/07 |
In Business |
6 Years 6 Months |
0 |
No |
|
|
TUFFSAN TRADING 258 (PTY)LTD |
M2007/032216/07 |
In Business |
6 Years 6 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 27 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ROSY BLUE INVESTMENTS (PTY)LTD |
M2003/012502/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
ROSYBLUE MANUFACTURING (PTY)LTD |
M1966/008325/07 |
In Business |
47 Years 11 Months |
0 |
No |
|
|
ROSYBLUE TRADING (PTY)LTD |
M1988/002681/07 |
In Business |
25 Years 1 Months |
0 |
No |
|
Principal - 2 of 4
SOMEN DAS
|
Surname |
DAS |
|
First Name |
SOMEN |
|
Other Names |
NONE |
|
Marital Status |
|
|
ID Number |
5506270000000 |
|
Verified ID Number |
No |
|
Current Age |
58 Years 5 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2007/08/23 |
|
Physical Address (at time of Appointment) |
NO 3 SAN RAPHAEL, BERRIL LANE, MORNINGSIDE, 2196 |
|
Postal Address |
P O BOX 2326, JOHANNESBURG, Gauteng, 2000 |
|
Current Tel Number |
0110119100 |
|
Cell number |
NONE |
|
Shareholding/Membership |
0.00 |
Principal's Adverse
- No information on record
Business Information for SOMEN DAS
Principal Current Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARATCO (PTY)LTD |
M2003/017551/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
EPISTEME COAL SA
(PTY)LTD |
M2008/006308/07 |
In Business |
5 Years 5 Months |
0 |
No |
|
|
EPISTEME PARTNERS (PTY)LTD |
2007/030856/07 |
In Business |
6 Years 6 Months |
0 |
No |
|
|
ROSY BLUE INVESTMENTS (PTY)LTD |
M2003/012502/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
ROSY BLUE WIRELESS AFRICA (PTY)LTD |
M2007/032193/07 |
In Business |
6 Years 6 Months |
0 |
No |
|
|
ROSYBLUE MANUFACTURING (PTY)LTD |
M1966/008325/07 |
In Business |
47 Years 11 Months |
0 |
No |
|
|
ROSYBLUE TRADING
(PTY)LTD |
M1988/002681/07 |
In Business |
25 Years 1 Months |
0 |
No |
|
Principal - 3 of 4
WESLEY MAKOVINI
|
Surname |
MAKOVINI |
|
First Name |
WESLEY |
|
Other Names |
NONE |
|
Marital Status |
|
|
ID Number |
6905115052080 |
|
Verified ID Number |
Yes |
|
Current Age |
44 Years 6 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2003/08/06 |
|
Physical Address (at time of Appointment) |
36 PARKWAY, FOURWAYS GARDENS, 2191 |
|
Postal Address |
P O BOX 71511, BRYANSTON, 2021 |
|
Current Tel Number |
0114656276 |
|
Cell number |
0828908514 |
|
Shareholding/Membership |
0.00 |
Principal's Adverse -
No information on record
Business Information
for WESLEY MAKOVINI
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARATCO (PTY)LTD |
M2003/017551/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
JADWIGA JEWELLERY (PTY)LTD |
M2005/011794/07 |
In Business |
8 Years 8 Months |
0 |
No |
|
|
PANDA DIAMONDS (PTY)LTD |
M2006/009814/07 |
In Business |
7 Years 7 Months |
0 |
No |
|
|
WES MAKOVINI |
6905115052080 |
|
Unknown |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 8 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
ADARA JEWELLERY (PTY)LTD |
M1997/021416/07 |
In Business |
16 Years 4 Months |
0 |
No |
|
|
AFRICAN JEWELLERY AND DIAMONDS (PTY)LTD |
M2001/022277/07 |
Deregistration Final |
|
0 |
No |
|
|
JEWELLERY
EXPERIENCE (PTY)LTD |
M2000/022022/07 |
In Business |
13 Years 1 Months |
0 |
No |
|
|
JOUEL (PTY)LTD |
M2010/005800/07 |
In Business |
3 Years 3 Months |
0 |
No |
|
Principal Deeds
Information
Property Interests
for WESLEY MAKOVINI
|
Title Deed No. |
T15652/2010 |
Erf/Site No. |
|
|
Deeds Office |
PRETORIA |
Physical Address |
30 PARK FOURWAYS GARDENS SANDTON |
|
Property Type |
Freehold |
Extent / Size |
948.0SQM |
|
Purchase Date |
2010/01/15 |
Purchase price |
|
|
% Ownership |
0.00 |
Bond Holder |
ABSA BANK LTD |
|
Bond Number |
B107212010 |
Bond Amount |
|
|
Comment |
|
||
Principal - 4 of 4
TIMOTHY WATSON
|
Surname |
WATSON |
|
First Name |
TIMOTHY |
|
Other Names |
NONE |
|
Marital Status |
|
|
ID Number |
5712225245005 |
|
Verified ID Number |
Yes |
|
Current Age |
55 Years 11 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2003/07/24 |
|
Physical Address (at time of Appointment) |
8 HIGHWICK RIOAD, KENILWORTH, CAPE TOWN, 7700 |
|
Postal Address |
P O BOX 71511, BRYANSTON, 2021 |
|
Current Tel Number |
0112744905 |
|
Cell number |
0824565868 |
|
Shareholding/Membership |
50% |
Principal's Adverse -
No information on record
Business Information
for TIMOTHY WATSON
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
CARATCO (PTY)LTD |
M2003/017551/07 |
In Business |
10 Years 10 Months |
0 |
No |
|
|
HARD ASSET
INVESTMENT BROKERS(PTY)LTD |
M1986/002467/07 |
Deregistration Process |
27 Years 3 Months |
0 |
No |
|
|
INTERCOLOUR GEMS CC |
B1991/029031/23 |
In Business |
22 Years 10 Months |
0 |
No |
|
|
PANDA DIAMONDS (PTY)LTD |
M2006/009814/07 |
In Business |
7 Years 7 Months |
0 |
No |
|
Principal Previous Business Interests
Average Age of Previous Business 17 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|||||
|
1ST AVENUE GOLD ACCEPTANCES (PTY)LTD |
M1996/012338/07 |
Deregistration Final |
17 Years 5 Months |
0 |
No |
|
|||||
|
AFRICAN JEWELLERY AND DIAMONDS (PTY)LTD |
M2001/022277/07 |
Deregistration Final |
|
0 |
No |
|
|||||
|
AKOYA PEARLS CC |
B1993/012313/23 |
Deregistration Final |
20 Years 8 Months |
0 |
No |
|
|||||
|
CARWAY PANELBEATERS CC |
B1991/029779/23 |
Deregistration Final |
22 Years 10 Months |
0 |
No |
|
|||||
|
CONSTANTIA OAK PROPERTIES CC |
B1997/047414/23 |
Deregistration Final |
16 Years 4 Months |
0 |
No |
|
|||||
|
CORPCLO 326 CC |
B1998/033883/23 |
Deregistration Final |
15 Years 3 Months |
0 |
No |
|
|||||
|
CULLINAN DIAMONDS (PTY)LTD |
M2000/023394/07 |
In Business |
13 Years 1 Months |
0 |
No |
|
|||||
|
DUNROSE INVESTMENTS 77 (PTY)LTD |
M2000/029079/07 |
Deregistration Final |
13 Years 1 Months |
0 |
No |
|
|||||
|
FIRST GOLD TRADING CC |
B1995/025742/23 |
Deregistration Final |
18 Years 6 Months |
0 |
No |
|
|||||
|
OLD VINEYARD PROPERTIES CC |
B1997/051176/23 |
Deregistration Final |
16 Years 4 Months |
0 |
No |
|
|||||
|
OUWINGERD PROPERTIES CC |
B1997/047451/23 |
Deregistration Final |
16 Years 4 Months |
0 |
No |
|
|||||
|
SECTION 14 HOLLYBANK ILLOVO CC |
B1997/064565/23 |
In Business |
16 Years 4 Months |
0 |
No |
|
|||||
|
SUNSTAR DIAMOND CUTTERS CC |
B1992/030954/23 |
In Business |
21 Years 9 Months |
0 |
No |
|
|||||
|
TANZANITE S A (PTY)LTD |
M1960/002580/07 |
Deregistration Final |
53 Years 5 Months |
0 |
No |
|
|||||
|
TROPICAL COLLECTION (PTY)LTD |
M2006/011015/07 |
In Business |
7 Years 7 Months |
0 |
No |
|
|||||
|
WATERSONG INVESTMENTS (PTY)LTD |
M1996/000559/07 |
Deregistration Final |
17 Years 5 Months |
0 |
No |
|
|||||
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council
in its statistical data has shown the export of polished diamonds to have
increase by 28 % in February 2013. Compared to $ 1.4 bn
worth of polished diamond export in February, 2012, India exported $ 1.84
billion worth of polished diamonds in February 2013. A senior executive of
GJEPC said, “Export of cut and polished diamonds started falling month-wise
after the imposition of 2 % of import duty on the polished diamonds. But
February, 2013 has given a new ray of hope to the industry as the export of
polished diamonds has actually increased by 28 %. It means the industry
is on the track of recovery and round tripping of diamonds has stopped
completely.” Demand has started coming from the US, the UK, Japan and China.
India’s polished diamond export is expected to cross $ 21 bn
in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel
III accord – a global voluntary regulatory standard on bank capital adequacy,
stress testing and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
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.