MIRA INFORM REPORT

 

 

Report Date :

18.10.2013

 

IDENTIFICATION DETAILS

 

Name :

CENOKO PTE. LTD.

 

 

Registered Office :

8, Eu Tong Sen Street, 14-94, The Central, 059818

 

 

Country :

Singapore 

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

18.06.2012

 

 

Com. Reg. No.:

201214950-H

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

trader of palm oil and agricultural products. 

 

 

No. of Employees :

Not Available 

 

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)

Singapore 

A1

A1

 

Risk Category

ECGC Classification

 

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Singapore ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

 

 

* Adopted abbreviations :

SC - Subject Company (the company enquired by you)

 

 

 

N/A - Not Applicable

 

 

 

 

 

 

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

201214950-H

COMPANY NAME

:

CENOKO PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

18/06/2012

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

8, EU TONG SEN STREET, 14-94, THE CENTRAL, 059818, SINGAPORE.

BUSINESS ADDRESS

:

8 EU TONG SEN STREET, #14-94 THE CENTRAL, 059818, SINGAPORE.

TEL.NO.

:

65-64071114

FAX.NO.

:

65-64151264

CONTACT PERSON

:

MIRAH AGUS ( DIRECTOR )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

TRADING OF PALM OIL AND AGRICULTURAL PRODUCTS

 

 

 

ISSUED AND PAID UP CAPITAL

:

7,500,000.00 ORDINARY SHARE, OF A VALUE OF USD 7,500,000.00

 

 

 

SALES

:

USD 54,871,021 [2012]

NET WORTH

:

USD 1,405,397 [2012]

 

 

 

STAFF STRENGTH

:

N/A

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STABLE

PAYMENT

:

FAIR

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

HISTORY / BACKGROUND

 

The SC is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the SC must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the SC is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the SC is insolvent. The SC is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

 

The SC is principally engaged in the (as a / as an) trading of palm oil and agricultural products.

 

The immediate and ultimate holding company of the SC is CENOKO HILL INTERNATIONAL LTD, a company incorporated in VIRGIN ISLANDS, BRITISH.

 

The major shareholder(s) of the SC are shown as follows :

Name

Address

IC/PP/Loc No

Shareholding

(%)

CENOKO HILL INTERNATIONAL LTD

P. O. BOX 438, PALM GROVE HOUSE, ROAD TOWN, TORTOLA, VIRGIN ISLANDS, BRITISH.

VIT12UF2201

7,500,000.00

100.00

 

 

 

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

------

 

 

 

7,500,000.00

100.00

 

 

 

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

=====

+ Also Director

 

DIRECTORS



DIRECTOR 1

 

Name Of Subject

:

MIRAH AGUS

Address

:

8, EU TONG SEN STREET, 14-94, THE CENTRAL, 059818, SINGAPORE.

IC / PP No

:

S7278189I

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

18/06/2012

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

ANDI SUWANDI PUTRA

Address

:

58, MARINE TERRACE, 02 - 69, 440058, SINGAPORE.

IC / PP No

:

S7674550A

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

06/05/2013

 

 

 

 

 

 

 

 

 

 

 

 



MANAGEMENT

 

 

 

1)

Name of Subject

:

MIRAH AGUS

 

Position

:

DIRECTOR

 

AUDITOR

 

Auditor

:

MY PARTNERSHIP

Auditor' Address

:

N/A

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

DISCIPULO GOLDIE ROJAS

 

IC / PP No

:

S2759388G

 

 

 

 

 

Address

:

220, PETIR ROAD, 05-341, 670220, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

BANKING


No Banker found in our databank.

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C201309459

11/07/2013

N/A

CIMB BANK BERHAD

N/A

Unsatisfied

C201309465

11/07/2013

N/A

CIMB BANK BERHAD

N/A

Unsatisfied

C201309470

11/07/2013

N/A

CIMB BANK BERHAD

N/A

Unsatisfied

 

 

LEGAL CHECK AGAINST SC


* A check has been conducted in our databank against the SC whether the subject has been involved in any litigation. 

No legal action was found in our databank. 

No winding up petition was found in our databank. 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A

 

 

 


The SC refused to disclose its suppliers. 

The SC refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

 

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

 

]

 

Good 31-60 Days

[

 

]

 

Average 61-90 Days

[

 

]

 

Fair 91-120 Days

[

X

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 

 

CLIENTELE

Local

:

N/A

 

 

 

Overseas

:

N/A

 

 

 

 

The SC refused to disclose any information on its clientele. 

 

OPERATIONS

 

Goods Traded

:

PALM OIL AND AGRICULTURAL PRODUCTS

 

 

 

 

 

Branch

:

NO

 

 

Other Information:


The SC is principally engaged in the (as a / as an) trading of palm oil and agricultural products. 

The SC refused to disclose any information on its operation. 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-64071114

Match

:

N/A

 

 

 

Address Provided by Client

:

8 EU TONG SEN STREET, # 14-94 THE CENTRAL SINGAPORE 059818

Current Address

:

8 EU TONG SEN STREET, #14-94 THE CENTRAL, 059818, SINGAPORE.

Match

:

YES

 

 

 

 

Other Investigations


we contacted one of the staff from the SC and she provided some information on the SC.

The SC refused to disclose its number of employees.

FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Return on Shareholder Funds

:

Favourable

[

99.44%

]

 

Return on Net Assets

:

Favourable

[

115.84%

]

 

 

 

 

 

 

 

 

Generally the SC was profitable. The favourable return on shareholders' funds and return on net assets indicate that the SC's management was efficient in utilising the assets to generate returns.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Nil

[

0 Days

]

 

Debtor Ratio

:

Favourable

[

30 Days

]

 

Creditors Ratio

:

Unfavourable

[

90 Days

]

 

 

 

 

 

 

 

 

As the SC is a service oriented company, the SC does not need to keep stocks. The favourable debtors' days could be due to the good credit control measures implemented by the SC. The unfavourable creditors' ratio could be due to the SC taking advantage of the credit granted by its suppliers. However this may affect the goodwill between the SC and its suppliers and the SC may inadvertently have to pay more for its future supplies.

 

 

 

 

 

 

 

Liquidity

 

 

 

 

 

 

Liquid Ratio

:

Favourable

[

1.11 Times

]

 

Current Ratio

:

Unfavourable

[

1.11 Times

]

 

 

 

 

 

 

 

 

A minimum liquid ratio of 1 should be maintained by the SC in order to assure its creditors of its ability to meet short term obligations and the SC was in a good liquidity position. Thus, we believe the SC is able to meet all its short term obligations as and when they fall due.

 

 

 

 

 

 

 

Solvency

 

 

 

 

 

 

Interest Cover

:

Nil

[

0.00 Times

]

 

Gearing Ratio

:

Favourable

[

0.00 Times

]

 

 

 

 

 

 

 

 

The SC's interest cover was nil as it did not pay any interest during the year. The SC had no gearing and hence it had virtually no financial risk. The SC was financed by its shareholders' funds and internally generated fund. During the economic downturn, the SC, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall Assessment :

 

 

 

 

 

 

The SC was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the SC should be able to repay its short term obligations. The SC did not make any interest payment during the year. The SC was dependent on its shareholders' funds to finance its business needs. The SC was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The SC has good chance of getting loans, if the needs arises.

 

 

 

 

 

 

 

Overall financial condition of the SC : STABLE

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2008

2009

2010

2011

2012

 

 

 

 

 

 

Population (Million)

4.84

4.98

5.08

5.18

5.31

Gross Domestic Products ( % )

1.5

<0.8>

14.5

4.9

1.3

Consumer Price Index

6.6

0.6

2.8

5.2

4.6

Total Imports (Million)

450,892.6

356,299.3

423,221.8

459,655.1

474,554.0

Total Exports (Million)

476,762.2

391,118.1

478,840.7

514,741.2

510,329.0

 

 

 

 

 

 

Unemployment Rate (%)

2.2

3.2

2.2

2.1

2.0

Tourist Arrival (Million)

10.12

9.68

11.64

13.17

14.37

Hotel Occupancy Rate (%)

81.0

75.8

85.6

86.5

86.4

Cellular Phone Subscriber (Million)

1.31

1.37

1.43

1.50

1.52

 

 

 

 

 

 

Registration of New Companies (No.)

25,327

26,414

29,798

32,317

31,892

Registration of New Companies (%)

<2.2>

4.3

12.8

8.5

<1.3>

Liquidation of Companies (No.)

10,493

22,393

15,126

19,005

17,218

Liquidation of Companies (%)

13.7

113.4

<32.5>

25.6

9.4

 

 

 

 

 

 

Registration of New Businesses (No.)

24,850

26,876

23,978

23,494

24,788

Registration of New Businesses (%)

0.36

8.15

<10.78>

2.02

5.51

Liquidation of Businesses (No.)

21,150

23,552

24,211

23,005

22,489

Liquidation of Businesses (%)

<0.8>

11.4

2.8

<5>

<2.2>

 

 

 

 

 

 

Bankruptcy Orders (No.)

2,326

2,058

1,537

1,527

1,748

Bankruptcy Orders (%)

<15.9>

<11.5>

<25.3>

<0.7>

14.5

Bankruptcy Discharges (No.)

1,500

3,056

2,252

1,391

1,881

Bankruptcy Discharges (%)

<7.7>

103.7

<26.3>

<38.2>

35.2

 

 

 

 

 

 

INDUSTRIES ( % of Growth ) :

 

 

 

 

 

Agriculture

 

 

 

 

 

Production of Principal Crops

<0.32>

3.25

<0.48>

4.25

3.64

Fish Supply & Wholesale

<6.31>

<1.93>

<10.5>

12.10

<0.5>

 

 

 

 

 

 

Manufacturing *

74.6

71.5

92.8

100.0

100.3

Food, Beverages & Tobacco

94.8

90.4

96.4

100.0

103.5

Textiles

180.1

145.9

122.1

100.0

104.0

Wearing Apparel

334.6

211.0

123.3

100.0

92.1

Leather Products & Footwear

128.2

79.5

81.8

100.0

98.6

Wood & Wood Products

132.0

101.4

104.0

100.0

95.5

Paper & Paper Products

101.0

95.4

106.1

100.0

97.4

Printing & Media

118.2

100.9

103.5

100.0

93.0

Crude Oil Refineries

113.1

96.4

95.6

100.0

99.4

Chemical & Chemical Products

84.5

80.3

97.6

100.0

100.5

Pharmaceutical Products

43.7

49.1

75.3

100.0

109.7

Rubber & Plastic Products

120.1

101.2

112.3

100.0

96.5

Non-metallic Mineral

96.5

91.9

92.5

100.0

98.2

Basic Metals

109.8

92.6

102.2

100.0

90.6

Fabricated Metal Products

101.3

90.8

103.6

100.0

104.3

Machinery & Equipment

65.0

57.3

78.5

100.0

112.9

Electrical Machinery

81.7

86.8

124.1

100.0

99.3

Electronic Components

93.1

85.2

113.6

100.0

90.6

Transport Equipment

102.0

96.0

94.0

100.0

106.3

 

 

 

 

 

 

Construction

45.90

<36.9>

14.20

20.50

28.70

Real Estate

<11.2>

1.4

21.3

25.4

31.9

 

 

 

 

 

 

Services

 

 

 

 

 

Electricity, Gas & Water

<1.3>

1.70

4.00

7.00

6.30

Transport, Storage & Communication

11.60

3.90

12.80

7.40

5.30

Finance & Insurance

<5.9>

<16.4>

<0.4>

8.90

0.50

Government Services

17.40

4.50

9.70

6.90

6.00

Education Services

0.50

0.10

<0.9>

<1.4>

0.30

 

 

 

 

 

 

* Based on Index of Industrial Production (2011 = 100)

 

 

 

 

 

(Source : Department of Statistics)

 

 

 

 

 




INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

 

 

 

The wholesale and retail trade sector contracted by 1.5% in the fourth quarter of 2012, extending the 0.2% decline in the preceding quarter. For the whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in 2011. The sector was weighed down primarily by the wholesale trade segment. In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the 1.4% growth in 2011. Growth of the retail trade segment also moderated to 2.0%, from 3.2% in the year 2011.

 

The domestic wholesale trade index grew by 1.2% in the fourth quarter of 2012, an improvement from the 5.4% decline in the third quarter. This was partly due to an increase in the sales of chemicals & chemical products and ship chandlers & bunkering. For the full year of 2012, the domestic wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011. The foreign wholesale trade index grew by 8.6% in the fourth quarter, an increase from the 6.6% growth in the third quarter. The expansion was partly due to resilient sales of petroleum & petroleum products. For the whole of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the 4.3% increase in 2011.

 

In the fourth quarter of 2012, retail sales volume declined by 2.0%, extending the 0.3% decline in the third quarter. Excluding motor vehicles, retail sales volume grew by 0.4%, a slight moderation compared to the 1.5% gain in the third quarter of 2012. The sales volume of motor vehicles fell by 11% in the fourth quarter of 2012, after contracting by 6.1% in the third quarter. The sales of several discretionary items also declined in the fourth quarter. Besides, the sales of optical goods & books in 2012 fell by 3.6%, while the sales of telecommunications apparatus & computers declined by 1.4%. 

 

For 2012 as a whole, retail sales volume grew by 1.3%, compared to the 2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods & toiletries registered the largest increase (9.3%) in sales, followed by telecommunications apparatus & computers (6.9%). By contrast, the sales of watches & jewellery (-2.2%) and optical goods & books (-3.6%) declined.

 

 

 

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH

 

CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 2012, the SC is a Private Limited company, focusing on trading of palm oil and agricultural products. Having been in the industry for 2 years, the SC has yet to establish its clientele base and mainly depends on a few major clients. Having strong support from its holding company has enabled the SC to remain competitive despite the challenging business environment. The capital standing of the SC is fair. With an adequate share capital, the SC has the potential of expanding its business in future. 

Overall, we regard that the SC's management capability is average. This indicates that the SC has greater potential to improve its business performance and raising income for the SC. 

Based on the higher profitability, the SC has generated a favourable return based on its existing shareholders' funds which indicated that the management was efficient in utilising its funds to generate income. The SC is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the SC virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at USD 1,405,397, the SC should be able to maintain its business in the near terms. 

Having a strong assets backing, the SC possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises. 

The SC's overall payment habit is fair and this clearly implied a weak credit control of the SC. 

The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the SC is expected to benefit from the favourable outlook of the industry. 

In view of the stability SC’s financial condition, we recommend credit be granted to the SC promptly.

 

 

PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

CENOKO PTE. LTD.

 

Financial Year End

2012-12-31

Months

6

Consolidated Account

Company

Audited Account

YES

Unqualified Auditor's Report (Clean Opinion)

YES

Financial Type

FULL

Currency

USD

 

 

TURNOVER

54,871,021

 

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

Total Turnover

54,871,021

Costs of Goods Sold

<53,028,205>

 

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

Gross Profit

1,842,816

 

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

 

 

PROFIT/(LOSS) FROM OPERATIONS

1,627,952

 

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

PROFIT/(LOSS) BEFORE TAXATION

1,627,952

Taxation

<230,377>

 

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

PROFIT/(LOSS) AFTER TAXATION

1,397,575

 

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

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

PROFIT AVAILABLE FOR APPROPRIATIONS

1,397,575

 

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

1,397,575

 

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

 

 

 

 

 

BALANCE SHEET

 

 

CENOKO PTE. LTD.

 

LONG TERM INVESTMENTS/OTHER ASSETS

 

Others

1,752

 

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

1,752

 

 

 

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

TOTAL LONG TERM ASSETS

1,752

 

 

CURRENT ASSETS

 

Trade debtors

4,566,000

Other debtors, deposits & prepayments

7,736

Amount due from holding company

6,430

Cash & bank balances

10,137,815

 

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

TOTAL CURRENT ASSETS

14,717,981

 

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

TOTAL ASSET

14,719,733

 

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

 

 

CURRENT LIABILITIES

 

Trade creditors

13,005,000

Other creditors & accruals

78,959

Provision for taxation

230,377

 

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

TOTAL CURRENT LIABILITIES

13,314,336

 

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

NET CURRENT ASSETS/(LIABILITIES)

1,403,645

 

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

TOTAL NET ASSETS

1,405,397

 

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

 

 

SHARE CAPITAL

 

Ordinary share capital

7,822

 

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

TOTAL SHARE CAPITAL

7,822

 

 

RESERVES

 

Retained profit/(loss) carried forward

1,397,575

 

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

TOTAL RESERVES

1,397,575

 

 

 

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

SHAREHOLDERS' FUNDS/EQUITY

1,405,397

 

 

 

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

 

1,405,397

 

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

 

 

 

FINANCIAL RATIO

 

 

CENOKO PTE. LTD.

 

TYPES OF FUNDS

 

Cash

10,137,815

Net Liquid Funds

10,137,815

Net Liquid Assets

1,403,645

Net Current Assets/(Liabilities)

1,403,645

Net Tangible Assets

1,405,397

Net Monetary Assets

1,403,645

BALANCE SHEET ITEMS

 

Total Borrowings

0

Total Liabilities

13,314,336

Total Assets

14,719,733

Net Assets

1,405,397

Net Assets Backing

1,405,397

Shareholders' Funds

1,405,397

Total Share Capital

7,822

Total Reserves

1,397,575

LIQUIDITY (Times)

 

Cash Ratio

0.76

Liquid Ratio

1.11

Current Ratio

1.11

WORKING CAPITAL CONTROL (Days)

 

Stock Ratio

0

Debtors Ratio

30

Creditors Ratio

90

SOLVENCY RATIOS (Times)

 

Gearing Ratio

0.00

Liabilities Ratio

9.47

Times Interest Earned Ratio

0.00

Assets Backing Ratio

179.67

PERFORMANCE RATIO (%)

 

Operating Profit Margin

2.97

Net Profit Margin

2.55

Return On Net Assets

115.84

Return On Capital Employed

115.84

Return On Shareholders' Funds/Equity

99.44

Dividend Pay Out Ratio (Times)

0.00

NOTES TO ACCOUNTS

 

Contingent Liabilities

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.58

UK Pound

1

Rs.98.51

Euro

1

Rs.83.49

 

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

 

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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.