MIRA
INFORM REPORT
|
Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
NAR
IMPEX CO., LTD. |
|
|
|
|
Registered Office : |
62/9 Soi
Pramote [Yasu], Surawong
Road, Suriyawongse, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
13.05.2002 |
|
|
|
|
Com. Reg. No.: |
0105545050697 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
importer and
distributor of various kinds
of precious and
semi-precious stones for
jewelry production industry,
as well as
jewelry products. |
|
|
|
|
No. of Employees : |
02 |
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 : |
Small Company |
|
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) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
THAILAND - ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise economy,
generally pro-investment policies, and strong export industries, Thailand
achieved steady growth due largely to industrial and agriculture exports -
mostly electronics, agricultural commodities, automobiles and parts, and
processed foods. Thailand is trying to maintain growth by encouraging domestic
consumption and public investment to offset weak exports in 2012. Unemployment,
at less than 1% of the labor force, stands as one of the lowest levels in the
world, which puts upward pressure on wages in some industries. Thailand also
attracts nearly 2.5 million migrant workers from neighboring countries. The
Thai government is implementing a nation-wide 300 baht ($10) per day minimum
wage policy and deploying new tax reforms designed to lower rates on
middle-income earners. The Thai economy has weathered internal and external
economic shocks in recent years. The global economic severely cut Thailand's
exports, with most sectors experiencing double-digit drops. In 2009, the
economy contracted 2.3%. However, in 2010, Thailand's economy expanded 7.8%,
its fastest pace since 1995, as exports rebounded. In late 2011 growth was
interrupted by historic flooding in the industrial areas in Bangkok and its
five surrounding provinces, crippling the manufacturing sector. Industry
recovered from the second quarter of 2012 onward with GDP growth at 5.5% in
2012. The government has approved flood mitigation projects worth $11.7
billion, which were started in 2012, to prevent similar economic damage, and an
additional $75 billion for infrastructure over the next seven years with a plan
to start in 2013.
Source : CIA
Company name
NAR IMPEX
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 62/9
SOI PRAMOTE [YASU],
SURAWONG ROAD,
SURIYAWONGSE, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2635-8842
FAX :
[66] 2635-9363
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2002
REGISTRATION
NO. : 0105545050697
TAX
ID NO. : 3030549310
CAPITAL REGISTERED : BHT. 4,000,000
CAPITAL PAID-UP : BHT.
4,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HAMID NOOHA
ALI, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 2
LINES
OF BUSINESS : PRECIOUS , SEMI-PRECIOUS
STONES AND
JEWELRY PRODUCTS
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on May 13,
2002 as a
private limited company under
the registered name
NAR IMPEX CO.,
LTD., by Thai
and Indian groups,
with the business
objective to import
and distribute various
precious and semi-precious
stones for jewelry
industry. It currently
employs 2 staff.
The
subject’s registered address was
initially located at 6th Floor,
Bangrak Condominium, 5/140
Soi Samarnmit, Charoenkrung
Rd., Yannawa, Sathorn,
Bangkok 10110.
On
April 10, 2012, its
registered address was
relocated to 62/9
Soi Pramote [Yasu], Surawong
Rd., Suriyawongse, Bangrak, Bangkok
10500, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hamid Nooha Ali |
|
Indian |
45 |
|
Mr. Premkumar James Rayan |
|
Indian |
26 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Hamid Nooha Ali
is the Managing
Director.
He is Indian
nationality with the
age of 45
years old.
BUSINESS OPERATIONS
The subject
is engaged in
importing and distributing
various kinds of
precious and semi-precious
stones for jewelry
production industry, as
well as jewelry
products.
PURCHASE
Most
of the products
are imported from
India and Hong
Kong, the remaining
is purchased from
local suppliers.
SALES
100% of the
products is sold
locally to traders,
manufacturer and end-users.
SUBSIDIARY
AND AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
LITIGATION
Bankruptcy and
Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
for the past
two years.
CREDIT
Sales are by
cash or on
the credit term
of 30 days.
Local bills are
paid by cash
or on the
credit term of
30 days.
Imports are by
T/T.
BANKING
Kasikornbank
Public Co., Ltd.
[Suriwongse Branch, 462-468
Suriyawongse Rd., Siphraya,
Bangrak, Bangkok]
EMPLOYMENT
The
subject currently employs
2 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in a prime
commercial area.
COMMENT
Subject
operates small business engaging
in importing and
distributing gemstones and
semi-precious stones including
jewelry products. Sales in 2012 were
reported at slow
level, while its
current business is
relatively slow from
slow purchasing power
of domestic market.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 3,000,000 divided
into 30,000 shares
of Bht. 100
each with fully
paid.
On
May 23, 2006,
the registered capital
was increased to
Bht. 4,000,000 divided
into 40,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
May 22, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Hamid Nooha Ali Nationality: Indian Address : 62/21
Surawong Rd., Suriyawongse,
Bangrak, Bangkok |
19,600 |
49.00 |
|
Ms. Orasa Ritmontree Nationality: Thai Address : 505/22
Charoenkrung Rd., Wadprayakrai,
Bangkorlaem, Bangkok |
4,000 |
10.00 |
|
Ms. Jongrak Sitthika Nationality: Thai Address : 29
Moo 17, T. Khambia,
A. Bodhichai, Roi-ed |
4,000 |
10.00 |
|
Ms. Supaporn Ritmontree Nationality: Thai Address : 125/59
Moo 13, T. Sila,
A. Muang, Khon Kaen |
4,000 |
10.00 |
|
Ms. Ladda Khumprem Nationality: Thai Address : 65
Moo 10, T. Phunamyod, A. Vichienburi, Petchabun
|
4,000 |
10.00 |
|
Mrs. Noothien Panyapradit Nationality: Thai Address : 99
Mahaesak Rd., Suriyawongse,
Bangrak, Bangkok |
4,000 |
10.00 |
|
Mr. Arnon Na-udom Nationality: Thai Address : 505/22
Charoenkrung Rd., Wadprayakrai,
Bangkorlaem, Bangkok |
400 |
1.00 |
Total Shareholders : 7
Share Structure [as
at May 22,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
20,400 |
51.00 |
|
Foreign-Indian |
1 |
19,600 |
49.00 |
|
Total |
7 |
40,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Monchaya Tantikulpong
No. 6866
BALANCE SHEET [BAHT]
The latest financial figures published as at December 31, 2012, 2011 & 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
335,754.57 |
244,639.72 |
136,532.37 |
|
Trade Accounts & Other Receivable |
5,742,774.29 |
4,949,060.37 |
3,230,095.09 |
|
|
|
|
|
|
Total Current Assets
|
6,078,528.86 |
5,193,700.09 |
3,366,627.46 |
|
Total Assets |
6,078,528.86 |
5,193,700.09 |
3,366,627.46 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts & Other Payable
|
3,014,149.85 |
2,354,679.84 |
21,050.00 |
|
Accrued Income Tax |
8,632.52 |
2,133.14 |
32,700.86 |
|
Loan Director |
- |
- |
665,873.00 |
|
|
|
|
|
|
Total Current Liabilities |
3,022,782.37 |
2,356,812.98 |
719,623.86 |
|
Total Liabilities |
3,022,782.37 |
2,356,812.98 |
719,623.86 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 40,000 shares |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
|
|
|
|
|
Capital Paid |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earning Unappropriated [Deficit] |
[944,253.51] |
[1,163,112.89] |
[1,352,996.40] |
|
Total Shareholders' Equity |
3,055,746.49 |
2,836,887.11 |
2,647,003.60 |
|
Total Liabilities & Shareholders' Equity |
6,078,528.86 |
5,193,700.09 |
3,366,627.46 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
Sales Income |
4,735,279.07 |
4,687,774.55 |
8,463,703.74 |
|
Other Income |
71,249.16 |
278,297.54 |
31,526.22 |
|
Total Revenues |
4,806,528.23 |
4,966,072.09 |
8,495,229.96 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
4,123,574.00 |
4,247,585.83 |
7,576,715.87 |
|
Selling and Administrative Expenses |
451,943.19 |
521,564.48 |
553,126.94 |
|
Total Expenses |
4,575,517.19 |
4,769,150.31 |
8,129,842.81 |
|
Profit / [Loss] before Income Tax |
231,011.04 |
196,921.78 |
365,387.15 |
|
Income Tax |
[12,151.66] |
[7,038.27] |
[32,700.86] |
|
Net Profit / [Loss] |
218,859.38 |
189,883.51 |
332,686.29 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.01 |
2.20 |
4.68 |
|
QUICK RATIO |
TIMES |
2.01 |
2.20 |
4.68 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
- |
- |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.78 |
0.90 |
2.51 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
442.66 |
385.34 |
139.30 |
|
RECEIVABLES TURNOVER |
TIMES |
0.82 |
0.95 |
2.62 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
266.80 |
202.34 |
1.01 |
|
CASH CONVERSION CYCLE |
DAYS |
175.86 |
183.00 |
138.28 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
87.08 |
90.61 |
89.52 |
|
SELLING & ADMINISTRATION |
% |
9.54 |
11.13 |
6.54 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
14.42 |
15.33 |
10.85 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.88 |
4.20 |
4.32 |
|
NET PROFIT MARGIN |
% |
4.62 |
4.05 |
3.93 |
|
RETURN ON EQUITY |
% |
7.16 |
6.69 |
12.57 |
|
RETURN ON ASSET |
% |
3.60 |
3.66 |
9.88 |
|
EARNING PER SHARE |
BAHT |
5.47 |
4.75 |
8.32 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.50 |
0.45 |
0.21 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.99 |
0.83 |
0.27 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
1.01 |
(44.61) |
|
|
OPERATING PROFIT |
% |
17.31 |
(46.11) |
|
|
NET PROFIT |
% |
15.26 |
(42.92) |
|
|
FIXED ASSETS |
% |
- |
- |
|
|
TOTAL ASSETS |
% |
17.04 |
54.27 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 1.01%. Turnover has increased from THB
4,687,774.55 in 2011 to THB 4,735,279.07 in 2012. While net profit has
increased from THB 189,883.51 in 2011 to THB 218,859.38 in 2012. And total
assets has increased from THB 5,193,700.09 in 2011 to THB 6,078,528.86 in 2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
14.42 |
Impressive |
Industrial Average |
7.98 |
|
Net Profit Margin |
4.62 |
Impressive |
Industrial Average |
0.07 |
|
Return on Assets |
3.60 |
Impressive |
Industrial Average |
1.22 |
|
Return on Equity |
7.16 |
Impressive |
Industrial Average |
3.35 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from revenues after accounting for
the cost of goods sold. Gross profit margin serves as the source for paying
additional expenses and future savings.
The company’s figure is 14.42%.
When compared with the industry average, the ratio of the company was higher,
indicated that company was more profitable than the same industry.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss.
The company’s figure is 4.62%,
higher figure when compared with those of its average competitors in the same industry,
indicated that business was an efficient operator in a dominant position within its industry.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages indicates
an inefficient use of business assets. Return on Assets ratio is 3.6%, higher
figure when compared with those of its average competitors in the same
industry, indicated that business was an efficient profit in a dominant position within its industry.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. Return on Equity ratio
is 7.16%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profits in a
dominant position within its industry.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
2.01 |
Impressive |
Industrial Average |
1.87 |
|
Quick Ratio |
2.01 |
|
|
|
|
Cash Conversion Cycle |
175.86 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's
figure is 2.01 times in 2012, decreased from 2.2 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was higher, indicated that company
was an efficient operator in a dominant position within its industry.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 2.01 times in
2012, decreased from 2.2 times, although
excluding inventory so the company still have good short-term financial
strength.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 176 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.50 |
Impressive |
Industrial Average |
0.65 |
|
Debt to Equity Ratio |
0.99 |
Impressive |
Industrial Average |
1.88 |
|
Times Interest Earned |
- |
|
Industrial Average |
0.17 |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the
shareholders have committed. A lower the percentage means that the company is
using less leverage and has a stronger equity position.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.5, most of the company's assets are
financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Downtrend
ACTIVITY : RISKY
ACTIVITY RATIO
|
Fixed Assets Turnover |
- |
|
Industrial Average |
1.38 |
|
Total Assets Turnover |
0.78 |
Deteriorated |
Industrial Average |
4.96 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
7.68 |
|
Receivables Conversion Period |
442.66 |
|
|
|
|
Receivables Turnover |
0.82 |
Deteriorated |
Industrial Average |
8.15 |
|
Payables Conversion Period |
266.80 |
|
|
|
The company's Account Receivable Ratio is calculated as 0.82 and 0.95 in
2012 and 2011 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2012
decreased from 2011. This would suggest the company had deteriorated in the
management of its debt collections.
The company's Total Asset Turnover is calculated as 0.78 times and 0.9
times in 2012 and 2011 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Downtrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
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.62.36 |
|
UK Pound |
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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.