MIRA INFORM REPORT

 

 

Report Date :

22.10.2013

 

IDENTIFICATION DETAILS

 

Name :

Emerald Essence Sdn. Bhd.

 

 

Registered Office :

30-A, Jalan 17/155C, Bandar Bukit Jalil, 57000 Kuala Lumpur, Wilayah Persekutuan, Malaysia

 

 

Country :

Malaysia

 

 

Financials (as on) :

30.09.2012

 

 

Date of Incorporation :

19.09.2011

 

 

Com. Reg. No.:

960587-U

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

General Trading, Land & Property Investment And Investment Holding

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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)

Malaysia

A2

A2

 

Risk Category

ECGC Classification

 

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

MALAYSIA - ECONOMIC OVERVIEW

 

Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. The NAJIB administration also is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with strained government finances, has forced Kuala Lumpur to begin to reduce government subsidies. The government is also trying to lessen its dependence on state oil producer Petronas. The oil and gas sector supplies about 35% of government revenue in 2011. Bank Negera Malaysia (central bank) maintains healthy foreign exchange reserves, and a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments and the global financial crisis. Nevertheless, Malaysia could be vulnerable to a fall in commodity prices or a general slowdown in global economic activity because exports are a major component of GDP. In order to attract increased investment, NAJIB has raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but he has encountered significant opposition, especially from Malay nationalists and other vested interests.

Source : CIA

 

* Adopted abbreviations :

SC - Subject Company (the company enquired by you)

 

 

N/A - Not Applicable

 

 

EXECUTIVE SUMMARY

 

REGISTRATION NO.

:

960587-U

COMPANY NAME

:

EMERALD ESSENCE SDN. BHD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

19/09/2011

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

 

 

 

REGISTERED ADDRESS

:

30-A, JALAN 17/155C, BANDAR BUKIT JALIL, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

BUSINESS ADDRESS

:

30-A, JALAN 17/155C, BANDAR BUKIT JALIL, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

TEL.NO.

:

N/A

FAX.NO.

:

N/A

HP.NO.

:

0162211051

CONTACT PERSON

:

ZAINUDIN BIN KOMING ( MANAGING DIRECTOR )

 

 

 

INDUSTRY CODE

:

68101

PRINCIPAL ACTIVITY

:

GENERAL TRADING, LAND & PROPERTY INVESTMENT AND INVESTMENT HOLDING

AUTHORISED CAPITAL

:

MYR 100,000.00 DIVIDED INTO 
ORDINARY SHARE 100,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 2.00 DIVIDED INTO 
ORDINARY SHARES 2 CASH OF MYR 1.00 EACH.

 

 

 

SALES

:

N/A

NET WORTH

:

MYR <4,190> [2012]

STAFF STRENGTH

:

N/A

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

WEAK

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

POOR

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

PROPOSED CREDIT LIMIT

:

NIL

 

 

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, 1965 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) general trading, land & property investment and investment holding.

 

The SC is not listed on Bursa Malaysia (Malaysia Stock Exchange).

 

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

Name

Address

IC/PP/Loc No

Shareholding

(%)

MS. NORAINI BINTI ABDULLAH +

274-3 BLOK 2, FLAT SRI LABUAN, BANDAR TUN RAZAK, CHERAS, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

670201-08-5358 A0699751

1.00

50.00

MR. ZAINUDIN BIN KOMING +

274-3 BLOK 2, FLAT SRI LABUAN, BANDAR TUN RAZAK, CHERAS, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

610406-04-5275

1.00

50.00

 

 

 

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

------

 

 

 

2.00

100.00

 

 

 

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

=====

 

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

Name Of Subject

:

MS. NORAINI BINTI ABDULLAH

Address

:

274-3 BLOK 2, FLAT SRI LABUAN, BANDAR TUN RAZAK, CHERAS, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

IC / PP No

:

A0699751

New IC No

:

670201-08-5358

Date of Birth

:

01/02/1967

Nationality

:

MALAYSIAN

 

DIRECTOR 2

Name Of Subject

:

MR. ZAINUDIN BIN KOMING

Address

:

274-3 BLOK 2, FLAT SRI LABUAN, BANDAR TUN RAZAK, CHERAS, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

New IC No

:

610406-04-5275

Date of Birth

:

06/04/1961

Nationality

:

MALAYSIAN

 

 

MANAGEMENT

 

1)

Name of Subject

:

ZAINUDIN BIN KOMING

 

Position

:

MANAGING DIRECTOR

 

 

AUDITOR

 

Auditor

:

RICHARD HO & ASSOCIATES

Auditor' Address

:

11-1-1, JALAN 3/62D, MEDAN PUTRA BUSINESS CENTRE, BANDAR SRI MENJALARA, 52200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MS. LEE SU JANE

 

IC / PP No

:

A3333337

 

New IC No

:

760129-14-5596

 

Address

:

48, JALAN 52/26, TAMAN SRI RAMPAI, 53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

 

BANKING

 

No Banker found in our databank. 

 

 

ENCUMBRANCE (S)

 

No encumbrance was found in our databank at the time of investigation. 

 

 

LEGAL CHECK AGAINST SC

 

* A check has been conducted in our databank againt the SC whether the subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.

No legal action was found in our databank. 

No winding up petition was found in our databank. 

 

DEFAULTER CHECK AGAINST SC

 

* We have checked through the SC in our defaulters' database which comprised of debtors that have been blacklisted by our customers and debtors that have been placed or assigned to us for collection since 1990. Information was provided by third party where the debt amount can be disputed. Please check with creditors for confirmation as alleged debts may have been paid since recorded or are being disputed. 

 

No blacklisted record & debt collection case was found in our defaulters' databank. 

 

PAYMENT RECORD

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A

 

The SC refused to disclose its supplier. 



CLIENTELE

 

Local

:

N/A

 

 

 

Overseas

:

N/A

 

The SC refused to disclose its clientele. 

 

 

OPERATIONS

 

Branch

:

NO

 

 

Other Information:


The SC is principally engaged in the (as a / as an) general trading, land & property investment and investment holding. 

The SC refused to disclose its business operation. 

 

 

PROJECTS

 

No projects found in our databank 

 

 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the SC indicated that :

 

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

0162211051

Match

:

N/A

 

 

 

Address Provided by Client

:

NO 30 A JALAN 17/155 C BANDAR BUKIT JALIL 5700 KUACHLSMUR

Current Address

:

30-A, JALAN 17/155C, BANDAR BUKIT JALIL, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

Match

:

NO

 

 

 

Latest Financial Accounts

:

YES

 

Other Investigations


On 25th April 2013 we contacted Mr. Lovelish, the person incharge for SC, however he just provide limited information on SC.

The SC only can be contacted via Mr. Lovelish's mobile phone at 016-2211051.

The address provided is incomplete.

The SC has commence its business operation in 2013.

The SC refused to disclose its number of employees.

 

FINANCIAL ANALYSIS

 

Overall Assessment :

The SC's turnover figure was nil as it has yet to commence its business operation during the financial year. Hence, we are unable to further comment on the SC's financial health.

 

 

 

 

 

 

 

Overall financial condition of the SC : N/A

 

 

MALAYSIA ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators:

2009

2010

2011

2012*

2013**

 

 

 

 

 

 

Population ( Million)

28.13

28.35

28.70

29.30

29.80

Gross Domestic Products ( % )

<0.5>

7.2

5.1

5.6

5.3

Domestic Demand ( % )

2.9

6.3

8.2

9.4

5.6

Private Expenditure ( % )

<2.7>

8.1

8.2

8.0

7.4

Consumption ( % )

0.7

6.7

7.1

1.0

5.7

Investment ( % )

<17.2>

17.7

12.2

11.7

13.3

Public Expenditure ( % )

5.2

3.8

8.4

13.3

1.2

Consumption ( % )

3.1

0.2

16.1

11.3

<1.2>

Investment ( % )

8.0

2.8

<0.3>

15.9

4.2

 

 

 

 

 

 

Balance of Trade ( MYR Million )

89,650

118,356

116,058

106,300

110,700

Government Finance ( MYR Million )

<28,450>

<40,482>

<45,511>

<42,297>

<39,993>

Government Finance to GDP / Fiscal Deficit ( % )

<4.8>

<5.6>

<5.4>

<4.5>

<4.0>

Inflation ( % Change in Composite CPI)

<5.2>

5.1

3.1

1.6

2.5

Unemployment Rate

4.5

3.9

3.3

3.2

3.0

 

 

 

 

 

 

Net International Reserves ( MYR Billion )

331

329

415

427

-

Average Risk-Weighted Capital Adequacy Ratio ( % )

2.87

2.20

3.50

2.20

-

Average 3 Months of Non-performing Loans ( % )

11.08

15.30

14.80

14.70

-

Average Base Lending Rate ( % )

5.53

6.30

6.60

6.53

-

Business Loans Disbursed( % )

10.5

14.7

15.3

32.2

-

Foreign Investment ( MYR Million )

22,156.8

22,517.9

23,546.1

26,230.4

-

Consumer Loans ( % )

-

-

-

-

-

 

 

 

 

 

 

Registration of New Companies ( No. )

41,578

44,148

45,455

45,441

-

Registration of New Companies ( % )

<0.1>

6.2

3.0

<0.0>

-

Liquidation of Companies ( No. )

39,075

25,585

132,476

-

-

Liquidation of Companies ( % )

39.6

<34.5>

417.8

-

-

 

 

 

 

 

 

Registration of New Business ( No. )

312,581

271,414

284,598

324,761

-

Registration of New Business ( % )

-

-

-

-

-

Business Dissolved ( No. )

19,345

19,738

20,121

-

-

Business Dissolved ( % )

2.4

2.0

1.9

-

-

 

 

 

 

 

 

Sales of New Passenger Cars (' 000 Unit )

486.3

543.6

535.1

552.2

-

Cellular Phone Subscribers ( Million )

30.1

32.8

35.3

38.5

-

Tourist Arrival ( Million Persons )

23.6

24.6

24.7

25.0

-

Hotel Occupancy Rate ( % )

58.0

63.0

60.6

62.4

-

 

 

 

 

 

 

Credit Cards Spending ( % )

12.8

14.1

15.6

12.6

-

Bad Cheque Offenders (No.)

36,667

33,568

32,627

26,982

-

Individual Bankruptcy ( No.)

16,228

18,119

19,167

19,575

-

Individual Bankruptcy ( % )

16.7

11.7

5.8

2.1

-

 

 

INDUSTRIES ( % of Growth ):

2009

2010

2011

2012*

2013**

 

 

 

 

 

 

Agriculture

0.4

2.1

5.9

0.6

2.4

Palm Oil

<1.1>

<3.4>

10.8

<2.8>

-

Rubber

<19.8>

9.9

6.1

<0.6>

-

Forestry & Logging

<5.9>

<3.3>

<7.6>

<2.2>

-

Fishing

5.5

5.6

2.1

<0.7>

-

Other Agriculture

9.0

7.9

7.1

6.4

-

Industry Non-Performing Loans ( MYR Million )

413.7

508.4

634.1

-

-

% of Industry Non-Performing Loans

1.3

2.1

3.2

-

-

 

 

 

 

 

 

Mining

<3.8>

0.2

<5.7>

1.5

2.7

Oil & Gas

2.1

0.5

<1.7>

-

-

Other Mining

-

-

-

-

-

Industry Non-performing Loans ( MYR Million )

44.2

49.7

46.5

-

-

% of Industry Non-performing Loans

0.1

0.1

0.1

-

-

 

 

 

 

 

 

Manufacturing #

<9.4>

11.4

4.7

4.2

4.9

Exported-oriented Industries

<19.0>

12.1

2.8

4.1

-

Electrical & Electronics

<30.3>

28.4

<4.9>

1.6

-

Rubber Products

<10.1>

25.3

15.4

3.6

-

Wood Products

<24.1>

20.1

<4.9>

4.6

-

Textiles & Apparel

<19.5>

<0.4>

14.8

<7.1>

-

Domestic-oriented Industries

<9.8>

16.3

6.5

8.6

-

Food, Beverages & Tobacco

0.2

3.0

4.2

-

-

Chemical & Chemical Products

<7.7>

16.2

5.5

9.9

-

Plastic Products

<9.1>

2.4

3.8

-

-

Iron & Steel

<32.7>

29.3

2.4

-

-

Fabricated Metal Products

<2.5>

14.9

25.2

-

-

Non-metallic Mineral

<15.5>

20.2

27.1

6.6

-

Transport Equipment

<13.5>

36.5

<10.4>

13.7

-

Paper & Paper Products

<5.0>

18.7

14.8

<7.8>

-

Crude Oil Refineries

0.2

<11.4>

9.3

-

-

Industry Non-Performing Loans ( MYR Million )

6,007.3

6,217.5

6,537.2

-

-

% of Industry Non-Performing Loans

18.3

23.8

25.7

-

-

 

 

 

 

 

 

Construction

5.8

5.1

4.4

15.5

11.2

Industry Non-Performing Loans ( MYR Million )

3,241.8

4,038.5

3,856.9

-

-

% of Industry Non-Performing Loans

9.9

10.7

10.2

-

-

 

 

 

 

 

 

Services

2.6

6.5

6.4

5.5

5.6

Electric, Gas & Water

0.4

8.5

5.6

4.8

-

Transport, Storage & Communication

1.6

7.7

6.5

7.3

-

Wholesale, Retail, Hotel & Restaurant

2.8

4.7

5.2

6.9

-

Finance, Insurance & Real Estate

3.8

6.1

6.3

6.5

-

Government Services

2.0

6.7

7.6

5.6

-

Other Services

4.4

4.2

5.4

5.7

-

Industry Non-Performing Loans ( MYR Million )

6,631.3

7,384.6

6,825.2

-

-

% of Industry Non-Performing Loans

20.2

25.7

23.4

-

-

 

 

 

 

 

 

 

 

 

 

 

 

* Estimate / Preliminary

 

 

 

 

 

** Forecast

 

 

 

 

 

# Based On Manufacturing Production Index 
(Source : Department of Statistics / Economic Report / Bank Negara Report)

 

 

INDUSTRY ANALYSIS

 

MSIC CODE

68101 : Buying, selling, renting and operating of self-owned or leased real estate - residential buildings

 

 

INDUSTRY :

PROPERTY DEVELOPMENT

 

 

 


Malaysia's property development sector is predicted to remain stable in the year 2013, as Malaysia targets a five per cent growth in gross domestic product (GDP) despite weak exports. However, there are property developers are less optimistic of the first half of 2013 due to certain factors, including the outcomes of the 13th general elections and Budget 2013. The current global economic situation also contributes some uncertainty.


According to the 2013 Budget, government will allocate RM1.9 billion to build 123,000 affordable housing units in strategic locations, the initiative will be implemented by PR1MA, Syarikat Perumahan Nasional Bhd (SPNB) and Jabatan Perumahan Negara. A total of RM500 million will be spent by PR1MA to build 80,000 houses in major locations nationwide with the selling price ranging between RM100,000 and RM400,000 per unit. PR1MA will provide the Housing Facilitation Fund totalling RM500 million to build houses in collaboration with private housing developers. The house prices under this programme will be 20% lower than the market price and distributed through an open balloting system. President of the Real Estate & Housing Developers' Association Malaysia (Rehda) believed that the 2013 Budget are able to help address some of the issues that have been affecting the local property market. 


In the year 2012, the property industry in Malaysia has enjoyed to some degree in-built resilience in terms of property demand particularly in Greater KL, Penang and Johor Bahru markets. While developers have faced some headwinds such as the rate of sales and pricing power due to responsible lending guidelines issued by Bank Negara Malaysia (BNM) as well as external factors such as fear of a Euro-sovereign crisis, US economic uncertainties and slowdown in China and India, market sentiment is still positive so far, although this may vary depending on market segment (residential, commercial, retail or industrial). 

 

 

OVERALL INDUSTRY OUTLOOK : Marginal Growth

 

 

CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2011, the SC is a Private Limited company, focusing on general trading, land & property investment and investment holding. The SC has been in business for less than 5 years and it has slowly been building up contact with its clients while competing in the industry. However, it has yet to enjoy a stable market shares as it need to compete many well established players in the same field. We noted that the SC's issued and paid up capital stands at only MYR2. This means that its creditors are only able to recover a limited amount. Hence, caution is advised.


Overall, we regard that the SC's management capability is weak. Without capable management, the SC is unlikely to be successful and often contribute to unacceptable levels of accountability. Weak management can affect productivity, profitability, sales growth and ultimately can result in the failure of a business.


The SC's turnover figure was nil as it has yet to commence its business operation during the financial year. Hence, we are unable to further comment on the SC's financial health.


The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the SC's future performance is very much depend on its marketing strategies in order to retain its position in the market.


Based on the above unfavourable condition, we regard granting credit to the SC to be quite risky. Hence, credit is not recommended.

 

 

PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

EMERALD ESSENCE SDN. BHD.

 

Financial Year End

30/09/2012

Months

12

Consolidated Account

Company

Audited Account

YES

Unqualified Auditor's Report (Clean Opinion)

YES

Financial Type

FULL

Currency

MYR

 

 

PROFIT/(LOSS) FROM OPERATIONS

<4,192>

 

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

PROFIT/(LOSS) BEFORE TAXATION

<4,192>

 

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

PROFIT/(LOSS) AFTER TAXATION

<4,192>

 

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

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

PROFIT AVAILABLE FOR APPROPRIATIONS

<4,192>

 

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

<4,192>

 

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

 

 

 

BALANCE SHEET

 

 

EMERALD ESSENCE SDN. BHD.

 

CURRENT ASSETS

 

Cash & bank balances

2

 

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

TOTAL CURRENT ASSETS

2

 

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

TOTAL ASSET

2

 

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

 

 

CURRENT LIABILITIES

 

Other creditors & accruals

1,280

Amounts owing to director

2,912

 

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

TOTAL CURRENT LIABILITIES

4,192

 

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

NET CURRENT ASSETS/(LIABILITIES)

<4,190>

 

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

TOTAL NET ASSETS

<4,190>

 

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

 

 

SHARE CAPITAL

 

Ordinary share capital

2

 

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

TOTAL SHARE CAPITAL

2

 

 

RESERVES

 

Retained profit/(loss) carried forward

<4,192>

 

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

TOTAL RESERVES

<4,192>

 

 

 

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

SHAREHOLDERS' FUNDS/EQUITY

<4,190>

 

 

 

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

 

<4,190>

 

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

 

 

FINANCIAL RATIO

 

 

 

EMERALD ESSENCE SDN. BHD.

 

TYPES OF FUNDS

 

Cash

2

Net Liquid Funds

2

Net Liquid Assets

<4,190>

Net Current Assets/(Liabilities)

<4,190>

Net Tangible Assets

<4,190>

Net Monetary Assets

<4,190>

BALANCE SHEET ITEMS

 

Total Borrowings

0

Total Liabilities

4,192

Total Assets

2

Net Assets

<4,190>

Net Assets Backing

<4,190>

Shareholders' Funds

<4,190>

Total Share Capital

2

Total Reserves

<4,192>

LIQUIDITY (Times)

 

Cash Ratio

0.00

Liquid Ratio

0.00

Current Ratio

0.00

WORKING CAPITAL CONTROL (Days)

 

Stock Ratio

0

Debtors Ratio

0

Creditors Ratio

0

SOLVENCY RATIOS (Times)

 

Gearing Ratio

0.00

Liabilities Ratio

<1.00>

Times Interest Earned Ratio

0.00

Assets Backing Ratio

<2,095.00>

PERFORMANCE RATIO (%)

 

Operating Profit Margin

0.00

Net Profit Margin

0.00

Return On Net Assets

100.05

Return On Capital Employed

100.05

Return On Shareholders' Funds/Equity

100.05

Dividend Pay Out Ratio (Times)

0.00

NOTES TO ACCOUNTS

 

Contingent Liabilities

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.49

UK Pound

1

Rs.99.41

Euro

1

Rs.84.12

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.