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Report Date : |
14.10.2013 |
IDENTIFICATION DETAILS
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Name : |
ANZCHEM PTY LIMITED |
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Registered Office : |
Building A, Level 1 11 Talavera Road North Ryde New South Wales 2113 |
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Country : |
Australia |
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Financials (as on) : |
31.08.2012 |
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Date of Incorporation : |
30.12.2002 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import & distribution of pharmaceutical, veterinary, nutraceutical and food ingredients products. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
AUSTRALIA - ECONOMIC
OVERVIEW
The Australian economy has experienced continuous growth and
features low unemployment, contained inflation, very low public debt, and a
strong and stable financial system. By 2012, Australia had experienced more
than 20 years of continued economic growth, averaging 3.5% a year. Demand for
resources and energy from Asia and especially China has grown rapidly, creating
a channel for resources investments and growth in commodity exports. The high
Australian dollar has hurt the manufacturing sector, while the services sector
is the largest part of the Australian economy, accounting for about 70% of GDP
and 75% of jobs. Australia was comparatively unaffected by the global financial
crisis as the banking system has remained strong and inflation is under control.
Australia has benefited from a dramatic surge in its terms of trade in recent
years, stemming from rising global commodity prices. Australia is a significant
exporter of natural resources, energy, and food. Australia's abundant and
diverse natural resources attract high levels of foreign investment and include
extensive reserves of coal, iron, copper, gold, natural gas, uranium, and
renewable energy sources. A series of major investments, such as the US$40
billion Gorgon Liquid Natural Gas project, will significantly expand the
resources sector. Australia is an open market with minimal restrictions on
imports of goods and services. The process of opening up has increased
productivity, stimulated growth, and made the economy more flexible and
dynamic. Australia plays an active role in the World Trade Organization, APEC,
the G20, and other trade forums. Australia has bilateral free trade agreements
(FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has
a regional FTA with ASEAN and New Zealand, is negotiating agreements with
China, India, Indonesia, Japan, and the Republic of Korea, as well as with its
Pacific neighbors and the Gulf Cooperation Council countries, and is also
working on the Trans-Pacific Partnership Agreement with Brunei Darussalam,
Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and
Vietnam
Source
: CIA
Verified Address
Subject name : ANZCHEM PTY LIMITED
Business address : Mills Waterfront Estate
19/52 Holker Street
Town : Silverwater
Province : New South Wales
Zip/postal code : 2128
Country : Australia
Tel : +61 2 94752200
Fax : +61 2 94752211
Email : info@anzchem.com.au
Website : www.anzchem.com.au
Registered address : Building A, Level 1
11 Talavera Road
Town : North Ryde
Province : New South Wales
Zip/postal code : 2113
Country : Australia
Executive Summary
Date founded or registered : 30/12/2002
Legal form : Australian Proprietary Company
Chief executive : Manjit Singh
Issued & paid up capital : AUD 50,000
Sales turnover : AUD 17,778,258 (Non-consolidated 12 months, 31/08/2012)
Net income : AUD 1,404,781 (Non-consolidated 12 months, 31/08/2012)
Total fixed assets : AUD 10,290,043 (Non-consolidated 12 months, 31/08/2012)
Line of business : Import & distribution of pharmaceutical, veterinary, nutraceutical and food ingredients products.
Staff employed : 20 employees (Subject); 106,243 employees (Associated British Foods Group)
Credit Risk
Interpretation
Credit risk rating : SATISFACTORY
Credit risk theory : Reasonable financial and operational base. Small credits may be considered with
some confidence that commitments will be sustained under normal
circumstances. This is based on criterions such as years of establishment,
number of employees, sales turnover, profit after tax, total assets, reserve, and
others. A cautious credit control policy applies.
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience : Management is adequately experienced
Financial performance : Financial performance is fair
Organization structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Credit amount suggestion : USD 650,000
Credit amount asked : Not described.
Comments : Larger credit can still be considered if guaranteed by Intermediate Holding
Company.
Registry Data
Registration date : 30/12/2002
Legal form : Australian Proprietary Company
Registration no Australian Company Number: 103260215
Registered authority : Australian Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 27103260215
Registry status : Live/Active
Previous name : NEW ABF COMPANY PTY LTD (initial)
Change of legal form : None reported.
Other registration : ANZCHEM is a business name owned by the Subject registered on 18/10/2004 under business registration numbers: B1791574M and BN98095817.
Key Management
Name : Manjit Singh
Designation : Managing Director
Appointments
Name : Shuvasis Rana Kayal
Designation : Director
Appointment date : 21/01/03
Address : 917 Winding Lane
Media, PA 19103
United States Of America
Biography : Born on 07-02-1961 in Calcutta, India.
Name : Manjit Singh
Designation : Director
Appointment date : 30/10/07
Address : 7A Bernard Place
Cherrybrook, NSW 2126
Australia
Biography : Born on 27-03-1955 in Mombassa, Kenya.
Name : David Ross Wallace
Designation : Director
Appointment date : 28/07/11
Address : 5 Kentia Place
Alfords Point, NSW 2234
Australia
Biography : Born on 14-04-1966 in Bankstown, New South Wales, Australia.
Name : Melanie Jean Jones
Designation : Director
Appointment date : 17/09/12
Address : 24 Fordham Drive
Aberdeen, NJ 07747
United States of America
Biography : Born on 18-05-1965 in Gatesville, United States of America.
Name : Andrew Gerard Frank Cullen
Designation : Company Secretary
Appointment date : 26/02/13
Address : 43 Darnley Street
Gordon, NSW 2072
Australia
Biography : Born on 17-10-1970 in London, United Kingdom.
Staff employed : 20 employees (Subject); 106,243 employees (Associated British Foods Group)
Key Advisors
Auditors : KPMG
10 Shelley Street
Sydney, NSW 2000
Australia
Composition
Authorized Capital : AUD 50,000
No of shares : 50,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 50,000
Paid up capital : AUD 50,000
How listed : Full List
Composition
Shareholder name : SPI PHARMA INC
Address : 321 Cherry Lane
New Castle De 19720
United States of America
No. of shares : 50,000 Ordinary Shares
% of shares : 100%
Structure
Name : GARFIELD WESTON FOUNDATION
Affiliation type : Ultimate Holding Company
Address : Weston Centre
10 Grosvenor Street
London W1K 4QY
United Kingdom
Comments : The W. Garfield Weston Foundation is a private Canadian family foundation,
established in the 1950's by Willard Garfield Weston and his wife Reta. In 1924
Garfield inherited his father's company and during his life established bakeries
and other successful enterprises throughout Canada and in many parts of the
world. Today, these businesses include the George Weston Limited and Loblaw
Companies Limited, companies in food retailing, processing and distribution. The
founders believed that as the funds are generated through the hard work and
success of these Canadian companies, grants should be given in Canada for the
benefit of Canadians. For three generations, the W. Garfield Weston Foundation
has maintained a family tradition of supporting charitable organizations across
Canada. Today the Foundation directs the majority of its funds to projects in the
fields of land conservation, education, and science in Canada's North.
Name : WITTINGTON INVESTMENTS LIMITED
Affiliation type : Superior Holding Company
Address : Weston Centre
10 Grosvenor Street
London W1K 4QY
United Kingdom
Comments : Wittington Investments Limited is a holding company, which through its
subsidiaries processes and distributes food products. The company's subsidiaries
also operate furniture and furnishing stores. Wittington Investments Limited was
incorporated in 1941 and is based in London, United Kingdom. The company
operates as a subsidiary of Garfield Weston Foundation.
Wittington Investments Limited is an unquoted British investment company. It is
79.2% owned by the Garfield Weston Foundation, which is one of the UK's
largest grant-making trusts, and 20.8% owned by members of the Weston family.
Wittington Investments owns 54.5% of Associated British Foods, which is one of
the largest food companies in the world, and is itself the parent company of
Primark, the largest discount clothing chain in the UK and Ireland. Wittington
Investments also owns London department store Fortnum & Mason and Heal's, a
UK chain of homeware and furnishing department stores, It also owns De
Bijenkorf an upscale department store in Holland. Associated British Foods also
own British Sugar processor of all of the UK beet crop and producer of half the
UK consumption of sugar.
Name : ASSOCIATED BRITISH FOODS PLC
Affiliation type : Intermediate Holding Company
Address : Weston Centre
10 Grosvenor Street
London W1K 4QY
United Kingdom
Comments : Associated British Foods plc operates as a diversified food, ingredients, and retail
group worldwide. The company operates through five segments: Grocery, Sugar,
Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells
grocery products, including hot beverages, sugar and sweeteners, vegetable oils,
bread and baked goods, cereals, ethnic foods, herbs and spices, and meat
products to retail, wholesale, and foodservice businesses. The Sugar segment
engages in growing and processing sugar beet and sugar cane for sale to
industrial users. The Agriculture segment manufactures animal feeds and other
products for the agriculture sector, as well as offers technology and services to
the food, drink, and animal feed sectors. The Ingredients segment manufactures
bakers’ yeast, bakery ingredients, specialty proteins, enzymes, lipids, and yeast
extracts. The Retail segment is involved in buying and merchandising clothing
and accessories through the Primark and Penneys retail chains, which offer
womenswear, lingerie, childrenswear, menswear, footwear, accessories, hosiery,
and homeware. The company was founded in 1935 and is based in London, the
United Kingdom. Associated British Foods plc is a subsidiary of Wittington
Investments Limited.
Name : SPI PHARMA, INC.
Affiliation type : Sister Company
Address : 40 Cape Henlopen Drive
Lewes, DE 19958
United States
Comments : SPI Pharma, Inc. provides custom formulation solutions for pharmaceutical and
neutriceutical, and animal health markets. The company offers excipients,
including effervescent powders, fructose and maltose powders, liquid sorbitol,
lubricants, mannitol, sorbitol, and specialty binders/buffers. It also offers antacid
actives, such as coblend suspension products, DC powders, aluminum hydroxide
dried gels, magnesium hydroxide pastes, magnesium hydroxide powders, and
vaccine support products; and drug delivery systems and solutions. The company
offers its products for application in solid dosage formulation, viscous
suspensions/blends, DC chewing gum, effervescent systems,
chewable/quick-dissolve tablets, and customized granulations. It sells its products
through distributors in Americas, Europe, the Middle East, Africa, and the Asia
Pacific. The company also engages in the distribution of pharmaceutical,
veterinary, nutraceutical, and food ingredients to customers in Australia. SPI
Pharma, Inc. was formerly known as SPCA Barcroft. The company was founded
in 1930 and is based in Wilmington, Delaware. It has facilities in Lewes and New
Castle, Delaware; Septemes, France; Grand Haven, Michigan; and Bengaluru,
India. SPI Pharma, Inc operates as a subsidiary of Associated British Foods plc.
Name : AB MAURI MALAYSIA SDN. BHD.
Affiliation type : Sister Company
Address : Lot 4185, Kg. Baru Balakong
43300 Balakong
Selangor Darul Ehsan
Malaysia
Related companies and
corporate
affiliations comments : Other companies of the Associated British Foods Group should be considered
affiliates of the Subject.
Bank Details
Name of bank : National Australia Bank
Address : Australia
Account details : Current Account
Comments : It is generally not the policy of local banks to provide credit status information to
non related parties, however interested parties would be advised to consult first
with the Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of financial statement : Commercial Registry Filings
Financial statement date : 31/08/12
Type of accounts : Full audited
Currency : Australia Dollar (AUD)
Exchange rate : 1 USD = AUD 1.05 as of 11-10-2013
Summarized Financial
Information
Consolidation type : Non Consolidated Non Consolidated Group Consolidated
Currency : Australia Dollar (AUD) Australia Dollar (AUD) United Kingdom, Pound
(GBP)
Denomination : (x1) One (x1) One (x1) One
Date of financial year end : 31/08/12 31/08/11 15/09/12
Length of accounts : 12 months 12 months 12 months
Sale turnover / Income : 17,778,258 17,229,089 12,252,000,000
Gross profit : 4,317,034 3,918,562
Profit before tax : 2,000,520 1,480,041 761,000,000
Net income : 1,404,781 1,019,126 583,000,000
Non current assets : 315,969 280,506 6, 971,000,000
Current assets : 9,974,074 8,176,589 3,269,000,000
Inventories : 3,790,078 3,795,875 1,500,000,000
Total assets : 10,290,04 3 8,457,095 10,240,000,000
Current liabilities : 3,826,311 3,325,308 2,588,000,000
Non current liabilities : 18,977 88,813 1,431,000,000
Total liabilities : 3,845,288 3,414,121 4,019,000,000
Share equity : 6,444,755 5,042,974 6,221,000,000
Retained earning : 6,432,755 5,027,974 5,099,000,000
Comments : The non-consolidated financial information above relates to the Subject only.
The group’s consolidated financial information above relates to the Subject’s
Intermediate Holding Company Associated British Foods PLC and all its
subsidiaries which include the Subject.
Main activities : The Subject engages in import & distribution of pharmaceutical,
veterinary, nutraceutical and food ingredients products.
The Subject was formed as the regional office for SPI Pharma Inc. based in
United States of America.
The Subject is a wholly owned subsidiary of SPI Pharma Inc. which is
engaged in custom formulation solutions for pharmaceutical and
nutraceutical manufacturers.
SPI Pharma, Inc. provides custom formulation solutions for pharmaceutical
and neutriceutical, and animal health markets. The company offers
excipients, including effervescent powders, fructose and maltose powders,
liquid sorbitol, lubricants, mannitol, sorbitol, and specialty binders/buffers. It
also offers antacid actives, such as coblend suspension products, DC
powders, aluminum hydroxide dried gels, magnesium hydroxide pastes,
magnesium hydroxide powders, and vaccine support products; and drug
delivery systems and solutions.
It sells its products through distributors in Americas, Europe, the Middle
East, Africa, and the Asia Pacific. The company also engages in the
distribution of pharmaceutical, veterinary, nutraceutical, and food
ingredients to customers in Australia. SPI Pharma, Inc. was formerly known
as SPCA Barcroft. The company was founded in 1930 and is based in
Wilmington, Delaware. It has facilities in Lewes and New Castle, Delaware;
Septemes, France; Grand Haven, Michigan; and Bengaluru, India.
Product & services : Pharmaceutical ingredients: Active Pharmaceutical Ingredient, Excipients,
Drug Delivery System
Food Ingredients: Antioxidants, Bulking Agents – Maltodextrin, Dextrose,
Colours – Natural & Artificial, Emulsifiers, Fibres, Flavours – Natural,
Nature Identical & Artificial, Fruits and Vegetables Products - IQF, Puree,
Juice Concentrates, Freeze Dried, Extracts., Hydrocollids, Preservatives –
Natural & Synthetic, Proteins – Animal & Vegetable, Starches, Sweeteners
– Natural & Synthetic, Vegetable Oils
Nutraceutical and functional ingredients: Amino Acids, Antioxidants,
Bioflavonoids, Carbohydrates, Co Enzyme Q10, Dietary Fibres, Dietary
Supplements, Extracts, Fat Substitutes, Fruit & Vegetable Products – IQF,
Puree, Juice Concentrates, Freeze Dried, Extracts., Functional lipids, Joint
Health Ingredients, Minerals, Nutritive oils . Vegetable and Marine, Plant &
Herbal Extract, Prebiotics, Probiotics, Proteins – Vegetable and Animal,
Sugar Substitutes, Sweeteners, Vitamins
Animal health ingredients: Amino Acids, Antioxidants, Emulsifiers, Nutritive
oils – Vegetable and Marine Source, Proteins – Animal & Vegetable,
Starches, Veterinary raw materials
Purchases
International : Asia, Europe, United States
Sales
Local : Yes
International : Asia, Europe, United States
Property & Assets
Premises : The Subject operates from premises located at the verified heading
address consisting of an administrative office and warehouse.
Branches : None reported.
Other property : Total NBV of property, plant and equipment as of 31-08-2012 was AUD
47,328
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 46.714 billion
Gross domestic product - GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4%
industry: 25.6%
services: 70.4%
Inflation : 2010: 2.8%
2011: 3.4%
2012: 2.7%
Unemployment rate : 2010: 5.2%
2011: 5.1%
2012: 5.2%
Public debt
(General Government gross debt as
a % GDP) : 2010: 20.4%
2011: 22.9%
2012: 24%
Government bond ratings : Standard & Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded
Shares : US$1.198 trillion
Largest companies in the country : Qantas Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal Services),Crown Ltd (Casinos & Gaming),
Amcor (Containers & Packaging),Suncorp-Metway (Diversified Insurance),
BHP Billiton (Diversified Metals & Mining),Newcrest Mining (Diversified
Metals & Mining), Orica (Diversified Metals & Mining), Iluka
Resources(Diversified Metals & Mining), Origin Energy (Electric Utilities),
AGL Energy (Electric Utilities), Wesfarmers (Food Retail), Woolworths
(Food Retail), Metcash (Food Retail), Macquarie Group (Investment
services), AMP (Investment services), Challenger Ltd (Investment
services), Fortescue Metals Group (Iron & Steel), Bluescope Steel (Iron & Steel), Commonwealth Bank (Major Banks), Westpac Banking Group
(Major Banks), National Australia Bank (Major Banks), ANZ (Major Banks),
Woodside Petroleum (Oil & Gas Operations), Santos (Oil & Gas
Operations), Caltex Australia (Oil & Gas Operations), WorleyParsons (Oil
Services & Equipment), Toll Holdings (Other Transportation), Transurban
Group (Other Transportation), QBE Insurance Group (Property & Casualty
Insurance), Insurance Australia Group (Property & Casualty Insurance),
QR National (Railroads), Westfield Group (Real Estate), Stockland
Australia (Real Estate), Westfield Retail Trust (Real Estate), Lend Lease
(Real Estate), CFS Retail Property Trust (Real Estate), Goodman Group
(Real Estate), Bendigo & Adelaide Bank (Regional Banks), Bank of
Queensland (Regional Banks), Incitec Pivot (Specialized Chemicals),
Telstra (Telecommunications Services)
Trade &
Competitiveness Overview
Total exports : US$263.9 billion
Exports commodities : Coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport
equipment
Total imports : US$239.7 billion
Imports commodities : Machinery and transport equipment, computers and office machines,
Telecommunication equipment and parts; crude oil and petroleum products
Export - major partners : China 27.4%, Japan 19.2%, South Korea 8.9%, India 5.8%
Import - major partners : China 18.5%, US 11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7%
FDI Inflows : 2009: US$26,554 million
2010: US$35,556 million
2011: US$41,317 million
FDI Outflows : 2009: US$16,693 million
2010: US$12,791 million
2011: US$19,999 million
Best countries for doing business : 10 out of 185 countries
Global competitiveness ranking : 20 (ranking by country on a basis of 144, the first is the best)
Country and
Population Overview
Total population : 22.68 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian dollars (AUD)
Internet users as % of total
population: 79%
Purchase Term
International : L/C, Telegraphic transfer, D/P, Credit 30-90 days
Sales Term
Local : Prepayment, Bank transfer, D/P, Credit 30-90 days
International : L/C, Telegraphic transfer, D/P, Credit 30-90 days
Trade Reference/
Payment
Behaviour
Comments : As local and international trade references were not supplied, the Subject's
payment track record history cannot be appropriately determined but based
on our research, payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material provided by the Subject
: Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.