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Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SA PHI SPI SERVICE PRODUCTION AND IMPORT- EXPORT JOINT STOCK COMPANY |
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Registered Office : |
No. 72/22 Phan Dang Luu Street, Ward 5, Phu Nhuan District, Ho Chi
Minh City |
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Country : |
Vietnam |
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Date of Incorporation : |
11.04.2006 |
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Com. Reg. No.: |
4103004603 |
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Legal Form : |
Joint stock company |
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Line of Business : |
The subject is specializing in trading and exporting pepper. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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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) |
|
Vietnam |
B1 |
B1 |
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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 |
VIETNAM - ECONOMIC
OVERVIEW
Vietnam is a densely-populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. Vietnamese authorities have reaffirmed their commitment to economic modernization in recent years. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam became an official negotiating partner in the Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to less than 22% in 2012, while industry's share increased from 36% to nearly 41% in the same period. State-owned enterprises account for roughly 40% of GDP. Poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession hurt Vietnam's export-oriented economy, with GDP in 2012 growing at 5%, the slowest rate of growth since 1999. In 2012, however, exports increased by more than 18%, year-on-year; several administrative actions brought the trade deficit back into balance. Between 2008 and 2011, Vietnam's managed currency, the dong, was devalued in excess of 20%, but its value remained stable in 2012. Foreign direct investment inflows fell 4.5% to $10.5 billion in 2012. Foreign donors have pledged $6.5 billion in new development assistance for 2013. Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. In February 2011, the government shifted from policies aimed at achieving a high rate of economic growth, which had stoked inflation, to those aimed at stabilizing the economy, through tighter monetary and fiscal control. Although Vietnam unveiled a broad, "three pillar" economic reform program in early 2012, proposing the restructuring of public investment, state-owned enterprises, and the banking sector, little perceptible progress had been made by early 2013. Vietnam's economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses. In September 2012, the official bad debt ratio climbed to 8.8%, though some independent analysts believe it could be higher than 15%.
|
Source
: CIA |
|
English Name |
|
SA PHI SPI SERVICE PRODUCTION AND IMPORT- EXPORT JOINT STOCK COMPANY |
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Vietnamese Name |
|
CONG TY CO PHAN DICH VU SAN XUAT KINH DOANH XUAT NHAP KHAU SA PHI SPI |
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Short name |
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CONG TY CO PHAN SA PHI SPI |
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Type of Business |
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Joint stock company |
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Year Established |
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2006 |
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Business Registration No. |
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4103004603 |
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Date of Registration |
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11 Apr 2006 |
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Date of the latest adjustment (2nd) |
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31 July 2008 |
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Place of Registration |
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Business registration office - Planning and Investment Department of
Hochiminh City |
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Chartered capital |
|
VND 16,000,000,000 |
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Tax code |
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0304285438 |
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Total Employees |
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10 |
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Head Office |
||
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Current Address |
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No. 72/22 Phan Dang Luu Street, Ward 5, Phu Nhuan District, Ho Chi
Minh City, Vietnam |
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Former address |
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No.778/21 Nguyen Kiem Street, Ward 4, Phu Nhuan District, Ho Chi Minh
City, Vietnam |
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Telephone |
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(84-8) 3990 4341 - 3990 4384 |
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Fax |
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(84-8) 3990 4117 |
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Email |
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saphihcm@saphispi |
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Branch in Ha Noi
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Address |
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No.284 Ton Duc Thang Street, Hang Bot Ward, Dong Da District, Ha Noi
City, Vietnam |
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Tax code |
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0304285438-001 |
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1. NAME |
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Mr. HOANG TRONG DONG |
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Position |
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General Director – legal representative |
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Date of Birth |
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28 Nov 1957 |
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ID Number/Passport |
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023425933 |
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ID Issue Date |
|
17 Apr 2007 |
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ID Issue Place |
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Police station of Hochiminh City |
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Resident |
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No.227 Hai Ba Trung Street, Ward 6, District 3,
Ho Chi Minh City, Vietnam |
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Nationality |
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Vietnamese |
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Qualification |
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Managing |
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2. NAME |
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Ms. NGUYEN THI DUNG |
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Position |
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Chief Accountant |
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Current resident |
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Ho Chi Minh City, Vietnam |
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Nationality |
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Vietnamese |
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Email |
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dungnguyenkt09@gmail.com |
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Qualification |
|
Bachelor |
The subject is specializing in trading and exporting pepper.
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IMPORT: N/A |
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EXPORT: |
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Market |
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Russia |
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VIETNAM TECHNOLOGYCAL AND COMMERCIAL JOINT STOCK BANK HO VAN HUE
BRANCH |
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Address |
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141 Ho Van Hue Street, Ward 9, Phu Nhuan District, Ho Chi Minh City, Vietnam
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Telephone |
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(84-8) 3890 9150 |
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Fax |
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(84-8) 3847 7007 |
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The subject is a joint stock company. Following is its registered
shareholders: |
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1. NAME |
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Mr. HUYNH THI KIM THU |
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ID Number/Passport |
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022990145 |
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Resident |
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No.227 Hai Ba Trung Street, Ward 6, District 3, Ho Chi Minh City,
Vietnam |
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Nationality |
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Vietnamese |
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Number of Shares |
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6,000 |
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Value of shares |
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VND 6,000,000,000 |
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Percentage |
|
37.5% |
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||
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2. NAME |
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Ms. CAO THI THUY |
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ID Number/Passport |
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024429485 |
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Issued on |
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19 Feb 2009 |
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Issued Place |
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Police Station of Ho Chi Minh City |
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Resident |
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No. 35 Cuu Long Street, Ward 2, Tan Binh District, Ho Chi Minh City,
Vietnam |
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Nationality |
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Vietnamese |
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Number of Shares |
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4,000 |
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Value of shares |
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VND 4,000,000,000 |
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Percentage |
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25% |
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3. NAME |
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Mr. PHAN TAN QUOC |
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ID Number/Passport |
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021584441 |
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Resident |
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No.91 Cach Mang Thang Tam Street, Ben Thanh Ward, District 1, Ho Chi
Minh City, Vietnam |
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Nationality |
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Vietnamese |
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Number of Shares |
|
4,000 |
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Value of shares |
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VND 4,000,000,000 |
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Percentage |
|
25% |
Not available
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Trade Morality |
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Normal |
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Liquidity |
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N/A |
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Payment status |
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N/A |
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Financial Situation |
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Average |
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Development trend |
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N/A |
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Litigation data |
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No Recorded |
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Bankruptcy |
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No Recorded |
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Payment Methods |
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through by bank |
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Sale Methods |
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To contracts |
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Public opinion |
|
Normal |
The subject was established in 2006 under business registration no.
4103004603 issued by Business Registration Office – Planning and Investment
Department of Hochimin City with chartered capital VND 16 billion.
Its head office is locating at no .72/22 Phan Dang Luu Street – Ward 5 –
Phu Nhuan District – Hochiminh City. Besides, the subject has a branch in Hanoi
City. The subject registers many fields. However, currently the subject is only
specializing in trading and exporting pepper. Currently, the subject main
market is Russia.
Operation about 7 years, its market is also stable. According to Ms.
Nguyen Thi Dung - subject’s chief accountant, the subject has good relationship
with partner with Russia market. Currently, its business activities are normal.
In overview, the subject is operating with small scale. The subject has
capacity to meet small transactions. Caution is needed for medium and big
financial commitments.
|
Industry code |
GDP growth speed
by price compared with 1994 (%) |
Total
enterprises 2010 |
Total employees
2011 (Thous.pers.) |
Annual average
capital of enterprises 2010 (billion dongs) |
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|
2012 |
2011 |
|||||
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Agriculture, Forestry and Fishing |
2.72 |
4.00 |
8,887 |
24,362.9 |
95,227 |
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Industry and Construction |
4.52 |
5.53 |
95,217 |
10,718.9 |
3,641,376 |
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Trade and Services |
6.42 |
6.69 |
187,195 |
15,270.2 |
6,957,082 |
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ECONOMIC INDICATORS |
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2012 |
2011 |
2010 |
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Population (Million person) |
88.78 |
87.84 |
86.93 |
|||
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Gross Domestic Products
(USD billion) |
136 |
119 |
102.2 |
|||
|
GDP Growth (%) |
5.03 |
5.89 |
6.78 |
|||
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GDP Per Capita
(USD/person/year) |
1,540 |
1,300 |
1,160 |
|||
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Inflation (% Change in
Composite CPI) |
9.21 |
18.58 |
11.75 |
|||
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State Budget Deficit
compared with GDP (%) |
4.8 |
4.9 |
5.8 |
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SERVICE TRADE PERFORMANCE |
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Billion USD |
2012 |
2011 |
2010 |
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Exports |
114.6 |
96.3 |
72.2 |
|||
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Imports |
114.3 |
105.8 |
84.8 |
|||
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Trade Balance |
0.3 |
-9.5 |
-12.6 |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
|
1 |
Rs.102.91 |
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Euro |
1 |
Rs.86.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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.