MIRA INFORM REPORT

 

 

Report Date :

02.10.2013

 

IDENTIFICATION DETAILS

 

Name :

OZ KA LASTIK VE KAUCUK SANAYI TICARET A.S.

 

 

Registered Office :

Mahmutpasa Mah. Kanalyolu Cad. No:129 Basiskele Izmit Kocaeli

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

18.09.1991

 

 

Com. Reg. No.:

7775

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of rubber dough and tire.

 

 

No. of Employees :

620

 

 

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

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)

 Turkey

                       B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

TURKEY - ECONOMIC OVERVIEW

 

Turkey's largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment. An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkey's export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market. Several gas pipelines projects also are moving forward to help transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkey's dependence on imported oil and gas to meet 97% of its energy needs. After Turkey experienced a severe financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the country's economic fundamentals and ushered in an era of strong growth - averaging more than 6% annually until 2008. Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkey's well-regulated financial markets and banking system helped the country weather the global financial crisis and GDP rebounded strongly to 9.2% in 2010, as exports returned to normal levels following the recession. Growth dropped to approximately 3% in 2012. Turkey's public sector debt to GDP ratio has fallen to about 40%, and at least one rating agency upgraded Turkey's debt to investment grade in 2012. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit. The stock value of FDI stood at $117 billion at year-end 2012. Inflows have slowed because of continuing economic turmoil in Europe, the source of much of Turkey's FDI. Turkey's relatively high current account deficit, uncertainty related to monetary policy-making, and political turmoil within Turkey's neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence.

 

Source : CIA

 

 

COMPANY IDENTIFICATION

 

 

NAME

:

OZ KA LASTIK VE KAUCUK SANAYI TICARET A.S.

HEAD OFFICE ADDRESS

:

Mahmutpasa Mah. Kanalyolu Cad. No:129 Basiskele Izmit Kocaeli / Turkey

PHONE NUMBER

:

90-262-349 50 00

 

FAX NUMBER

:

90-262-349 50 03

 

WEB-ADDRESS

:

www.ozkalastik.com

E-MAIL

:

info@ozkalastik.com

 

 

LEGAL STATUS AND HISTORY

 

 

TAX OFFICE

:

Tepecik

TAX NO

:

6620720581

REGISTRATION NUMBER

:

7775

REGISTERED OFFICE

:

Izmit Chamber of Commerce

DATE ESTABLISHED

:

18.09.1991

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   20.000.000

PAID-IN CAPITAL

:

TL   20.000.000

 

HISTORY

:

Previous Legal Type

:

Limited Company

Changed On

:

02.01.2006 (Commercial Gazette Date /Number 23.01.2006/ 6476)

Previous Name

:

Oz-Ka Oz Kaniklar Kaucuk ve Mamulleri Imalat Sanayi ve Ticaret Ltd. Sti.

Changed On

:

10.10.2005 (Commercial Gazette Date /Number 26.10.2005/ 6419)

Previous Name

:

Oz-Ka Lastik ve Kaucuk Sanayi Ticaret Ltd. Sti.

Changed On

:

02.01.2006 (Commercial Gazette Date /Number 23.01.2006/ 6476)

Previous Registered Capital

:

TL 12.500.000

Changed On

:

26.03.2010 (Commercial Gazette Date /Number 01.04.2010/ 7534)

Previous Address

:

Mahmutpasa Mah. Kanalyolu Cad. No:18 Basiskele Kocaeli

Changed On

:

22.05.2012 (Commercial Gazette Date /Number 31.05.2012/ 8080)

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Ismail Kanik

25 %

Serafettin Kanik

25 %

Irfan Kanik

25 %

Mehmet Serif Kanik

24 %

Nur Kanik

1 %

 

 

GROUP

:

KANIK GROUP OF COMPANIES

 

SISTER COMPANIES

:

I.R.C. OTOMOTIV MAKINA SANAYI VE TICARET A.S.

 

ILKA PLASTIK AMBALAJ GIDA SANAYI VE TICARET LTD. STI.

 

OZEL KOCAELI EGITIM KAMPUSU A.S.

 

PALMIYE KAUCUK VE MAMULLERI SANAYI TICARET A.S.

 

SUBSIDIARIES

:

AES ENTEK ELEKTRIK URETIMI A.S.

 

KOSBAS KOCAELI SERBEST BOLGESI KURUCU VE ISLETICISI A.S. 

( 1,50 % )

 

BOARD OF DIRECTORS

:

Mehmet Serif Kanik

Chairman

Serafettin Kanik

Vice-Chairman

Nur Kanik

Member

Ismail Kanik

Member

Irfan Kanik

Member

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Manufacture and trade of rubber dough and tire.

 

NACE CODE

:

DH.25.11

 

SECTOR

:

Rubber

 

TRADEMARKS OWNED

:

Ozka

 

NUMBER OF EMPLOYEES

:

620

 

REMARKS ON NUMBER OF EMPLOYEES

:

The number of employees includes the subcontractors.

 

 

NET SALES

:

6.547 TL Thousand

(2002) 

11.608 TL Thousand

(2003) 

15.884 TL Thousand

(2004) 

18.932 TL Thousand

(2005) 

29.518.180 TL

(2006) 

44.404.054 TL

(2007) 

59.437.021 TL

(2008) 

74.763.508 TL

(2009) 

108.733.999 TL

(2010) 

176.469.542 TL

(2011) 

193.116.408 TL

(2012) 

104.639.205 TL

(01.01-30.06.2013) 

 

 

IMPORT VALUE

:

5.628.000 USD + 1.864.000 EUR

(2006)

7.445.232 USD + 2.492.445 EUR

(2007)

11.000.000 EUR

(2008)

8.944.948 USD + 3.717.317 EUR

(2009)

17.719.000 EUR

(2010)

14.200.000 EUR

(2011)

 

 

IMPORT COUNTRIES

:

Germany

France

China

Korea

Singapore

Romania

 

MERCHANDISE IMPORTED

:

Chemicals

Cord fabric

Machinery

Machinery spare parts

Oil

Rubber

 

 

 

EXPORT VALUE

:

198.380 TL

(2002)

891.461 TL

(2003)

298.307 USD + 564.832 EUR

(2004)

620.850 TL

(2005)

1.669.988 TL

(2006)

3.581.353 TL

(2007)

5.006.695 TL

(2008)

6.476.935 TL

(2009)

5.317.038 TL

(2010)

7.707.533 TL

(2011)

13.816.027 TL

(2012)

7.812.719 TL

(01.01-30.06.2013)

 

 

EXPORT COUNTRIES

:

Bulgaria

Luxembourg

Northern Cyprus Turkish Republic

Romania

Greece

Germany

Netherlands

Iran

Tunisia

Pakistan

Lebanon

Slovenia

U.K.

 

MERCHANDISE  EXPORTED

:

Rubber

Tire

 

HEAD OFFICE ADDRESS

:

Mahmutpasa Mah. Kanalyolu Cad. No:129 Basiskele Izmit  Kocaeli / Turkey ( owned )

 

BRANCHES

:

Warehouse  :  Karadenizler Mah. Kanalboyu Cad. Bila No Izmit Kocaeli/Turkey

 

Head Office/Factory  :  Mahmutpasa Mah. Kanalyolu Cad. No:129 Basiskele Izmit Kocaeli/Turkey (owned)

                                                                                

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2012. There appears an upwards trend in  1.1 - 30.6.2013.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Akbank Merkez Branch

HSBC Bank Izmit Branch

T. Finans Katilim Bankasi Sanayi Branch

Yapi ve Kredi Bankasi Izmit Branch

 

CREDIT FACILITIES

:

The subject company is making active use of credit facilities.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

KEY FINANCIAL ELEMENTS

:

 

(2009) TL

(2010) TL

(2011) TL

(2012) TL

(01.01-30.06.2013) TL

Net Sales

74.763.508

108.733.999

176.469.542

193.116.408

104.639.205

Profit (Loss) Before Tax

3.330.281

1.975.407

-4.685.630

14.941.478

12.379.185

Stockholders' Equity

14.319.837

21.105.039

16.419.408

29.269.389

 

Total Assets

75.148.761

93.707.521

119.501.050

148.818.844

 

Current Assets

17.296.855

28.601.349

51.475.657

82.620.023

 

Non-Current Assets

57.851.906

65.106.172

68.025.393

66.198.821

 

Current Liabilities

38.798.951

44.290.431

59.369.341

79.758.919

 

Long-Term Liabilities

22.029.973

28.312.051

43.712.301

39.790.536

 

Gross Profit (loss)

10.947.363

11.244.669

16.485.453

34.400.888

25.846.017

Operating Profit (loss)

7.834.577

7.644.450

9.176.786

25.865.673

20.591.524

Net Profit (loss)

3.330.281

1.772.352

-4.685.630

12.849.980

9.894.240

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Low As of 31.12.2012

Liquidity

Satisfactory As of 31.12.2012

Remarks On Liquidity

The unfavorable gap between average collection and average payable period has an adverse effect on liquidity.

Profitability

Good Operating Profitability  in 2008

Net Loss  in 2008

High Operating Profitability  in 2009

Good Net Profitability  in 2009

Good Operating Profitability  in 2010

Fair Net Profitability  in 2010

In Order Operating Profitability  in 2011

Net Loss  in 2011

High Operating Profitability  in 2012

High Net Profitability  in 2012

High Operating Profitability (01.01-30.06.2013)

High Net Profitability (01.01-30.06.2013)

 

Gap between average collection and payable periods

Unfavorable in 2012

General Financial Position

Passable

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2002 )

30,80 %

1,5168

1,3741

2,2001

 ( 2003 )

13,90 %

1,5302

1,7141

2,4982

 ( 2004 )

13,84 %

1,4266

1,7666

2,6001

 ( 2005 )

2,66 %

1,3499

1,6882

2,4623

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 2007 )

5,94 %

1,3075

1,7901

2,6133

 ( 2008 )

8,11 %

1,2858

1,8876

2,3708

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 2012 )

2,45 %

1,7995

2,3265

2,8593

 ( 01.01-30.06.2013)

2,46 %

1,8251

2,3936

2,8262

 ( 01.01-31.08.2013)

3,52 %

1,8605

2,4465

2,8765

 

 

BALANCE SHEETS

 

 ( 31.12.2008 )  TL

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

 ( 31.12.2011 )  TL

 

 ( 31.12.2012 )  TL

 

CURRENT ASSETS

19.297.952

0,27

17.296.855

0,23

28.601.349

0,31

51.475.657

0,43

82.620.023

0,56

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Cash and Banks

1.559.564

0,02

2.836.017

0,04

1.471.611

0,02

4.127.206

0,03

15.811.959

0,11

Marketable Securities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Account Receivable

3.276.310

0,05

2.624.372

0,03

6.323.713

0,07

24.698.851

0,21

40.432.017

0,27

Other Receivable

1.127.918

0,02

953.419

0,01

1.240.362

0,01

1.719.496

0,01

2.015.670

0,01

Inventories

9.563.623

0,13

9.482.422

0,13

16.698.204

0,18

20.102.413

0,17

23.289.819

0,16

Advances Given

2.140.840

0,03

1.135.784

0,02

2.470.546

0,03

764.044

0,01

1.053.251

0,01

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Current Assets

1.629.697

0,02

264.841

0,00

396.913

0,00

63.647

0,00

17.307

0,00

NON-CURRENT ASSETS

53.152.911

0,73

57.851.906

0,77

65.106.172

0,69

68.025.393

0,57

66.198.821

0,44

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Receivable

1.299

0,00

1.298

0,00

1.299

0,00

1.378

0,00

1.378

0,00

Financial Assets

50.238

0,00

50.238

0,00

50.238

0,00

50.238

0,00

50.238

0,00

Tangible Fixed Assets (net)

44.315.708

0,61

49.968.197

0,66

58.327.463

0,62

62.405.676

0,52

63.742.969

0,43

Intangible Assets

8.340.513

0,12

7.198.015

0,10

6.238.505

0,07

5.322.676

0,04

2.271.151

0,02

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

445.153

0,01

634.158

0,01

488.667

0,01

245.425

0,00

133.085

0,00

TOTAL ASSETS

72.450.863

1,00

75.148.761

1,00

93.707.521

1,00

119.501.050

1,00

148.818.844

1,00

CURRENT LIABILITIES

28.222.748

0,39

38.798.951

0,52

44.290.431

0,47

59.369.341

0,50

79.758.919

0,54

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

15.432.816

0,21

15.228.832

0,20

16.093.785

0,17

26.135.770

0,22

42.914.938

0,29

Accounts Payable

8.209.035

0,11

14.186.958

0,19

16.499.518

0,18

26.111.844

0,22

26.379.121

0,18

Loans from Shareholders

2.168.887

0,03

4.553.428

0,06

2.426.762

0,03

3.622.458

0,03

3.868.800

0,03

Other Short-term Payable

368.659

0,01

779.915

0,01

1.351.690

0,01

1.861.342

0,02

2.263.539

0,02

Advances from Customers

1.862.570

0,03

3.836.024

0,05

7.640.482

0,08

1.288.684

0,01

2.521.625

0,02

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Taxes Payable

180.781

0,00

213.794

0,00

278.194

0,00

349.243

0,00

1.810.896

0,01

Provisions

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

LONG-TERM LIABILITIES

33.238.559

0,46

22.029.973

0,29

28.312.051

0,30

43.712.301

0,37

39.790.536

0,27

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

33.238.559

0,46

22.029.973

0,29

28.312.051

0,30

43.712.301

0,37

39.790.536

0,27

Securities Issued

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Payable

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Loans from Shareholders

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Provisions

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

10.989.556

0,15

14.319.837

0,19

21.105.039

0,23

16.419.408

0,14

29.269.389

0,20

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Paid-in Capital

12.500.000

0,17

12.500.000

0,17

20.000.000

0,21

20.000.000

0,17

20.000.000

0,13

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Inflation Adjustment of Capital

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Equity of Consolidated Firms

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Reserves

3.361.960

0,05

3.361.960

0,04

874.811

0,01

1.105.038

0,01

874.811

0,01

Revaluation Fund

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Accumulated Losses(-)

0

0,00

-4.872.404

-0,06

-1.542.124

-0,02

0

0,00

-4.455.402

-0,03

Net Profit (loss)

-4.872.404

-0,07

3.330.281

0,04

1.772.352

0,02

-4.685.630

-0,04

12.849.980

0,09

TOTAL LIABILITIES AND EQUITY

72.450.863

1,00

75.148.761

1,00

93.707.521

1,00

119.501.050

1,00

148.818.844

1,00

 

 

REMARKS ON FINANCIAL STATEMENT

:

At the financial statements according to TAS, "Cheques Received" and "Outstanding Cheques" figures are under "Cash And Banks" figure. Beginning from the financial statements of 31.12.2011, "Cheques Received" and "Outstanding Cheques" figures are given under "Account Receivable" figure and "Account Payable" figure respectively. 

 

 

 

 

 

INCOME STATEMENTS

 

(2009) TL

 

(2010) TL

 

(2011) TL

 

(2012) TL

 

(01.01-30.06.2013) TL

 

Net Sales

74.763.508

1,00

108.733.999

1,00

176.469.542

1,00

193.116.408

1,00

104.639.205

1,00

Cost of Goods Sold

63.816.145

0,85

97.489.330

0,90

159.984.089

0,91

158.715.520

0,82

78.793.188

0,75

Gross Profit

10.947.363

0,15

11.244.669

0,10

16.485.453

0,09

34.400.888

0,18

25.846.017

0,25

Operating Expenses

3.112.786

0,04

3.600.219

0,03

7.308.667

0,04

8.535.215

0,04

5.254.493

0,05

Operating Profit

7.834.577

0,10

7.644.450

0,07

9.176.786

0,05

25.865.673

0,13

20.591.524

0,20

Other Income

2.602.053

0,03

2.804.516

0,03

3.057.069

0,02

4.815.606

0,02

2.244.303

0,02

Other Expenses

1.058.319

0,01

1.211.937

0,01

3.902.515

0,02

3.482.070

0,02

1.178.629

0,01

Financial Expenses

6.048.030

0,08

7.261.622

0,07

13.016.970

0,07

12.257.731

0,06

9.278.013

0,09

Minority Interests

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Profit (loss) Before Tax

3.330.281

0,04

1.975.407

0,02

-4.685.630

-0,03

14.941.478

0,08

12.379.185

0,12

Tax Payable

0

0,00

203.055

0,00

0

0,00

2.091.498

0,01

2.484.945

0,02

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

3.330.281

0,04

1.772.352

0,02

-4.685.630

-0,03

12.849.980

0,07

9.894.240

0,09

 

 

FINANCIAL RATIOS

 

(2008)

(2009)

(2010)

(2011)

(2012)

LIQUIDITY RATIOS

 

Current Ratio

0,68

0,45

0,65

0,87

1,04

Acid-Test Ratio

0,21

0,17

0,20

0,51

0,73

Cash Ratio

0,06

0,07

0,03

0,07

0,20

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,13

0,13

0,18

0,17

0,16

Short-term Receivable/Total Assets

0,06

0,05

0,08

0,22

0,29

Tangible Assets/Total Assets

0,61

0,66

0,62

0,52

0,43

TURNOVER RATIOS

 

Inventory Turnover

5,39

6,73

5,84

7,96

6,81

Stockholders' Equity Turnover

5,41

5,22

5,15

10,75

6,60

Asset Turnover

0,82

0,99

1,16

1,48

1,30

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,15

0,19

0,23

0,14

0,20

Current Liabilities/Total Assets

0,39

0,52

0,47

0,50

0,54

Financial Leverage

0,85

0,81

0,77

0,86

0,80

Gearing Percentage

5,59

4,25

3,44

6,28

4,08

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

-0,44

0,23

0,08

-0,29

0,44

Operating Profit Margin

0,07

0,10

0,07

0,05

0,13

Net Profit Margin

-0,08

0,04

0,02

-0,03

0,07

Interest Cover

0,32

1,55

1,27

0,64

2,22

COLLECTION-PAYMENT

 

Average Collection Period (days)

19,85

12,64

20,94

50,39

75,37

Average Payable Period (days)

57,34

80,03

60,93

58,76

59,83

WORKING CAPITAL

-8924796,00

-21502096,00

-15689082,00

-7893684,00

2861104,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.35

UK Pound

1

Rs.101.20

Euro

1

Rs.84.53

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.