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Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
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Name : |
INNUA PETROCHEM LIMITED |
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Registered Office : |
1st Floor Yamraj Building, P.O. Box 3321 |
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Country : |
Virgin Islands (British) |
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Date of Incorporation : |
16.06.2004 |
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Com. Reg. No.: |
730393 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trading of PVC and plasticizers |
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No. of Employees : |
8 |
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 : |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Virgin Islands (British) |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
VIRGIN ISLANDS
(BRITISH) - ECONOMIC OVERVIEW
Tourism, trade, and
other services are the primary economic activities, accounting for roughly 57% of
GDP and about half of total civilian employment in 2010. Goods-producing
industries accounted for 23% of GDP in 2010 and government represented 20%. The
islands hosted nearly 2.74 million visitors - 2.2 million cruise ship and
536,000 air passengers - in 2011. The manufacturing sector consists of rum
distilling, electronics, pharmaceuticals, and watch assembly. The agriculture
sector is small, with most food being imported. The islands are vulnerable to
damage from storms. The government is working to improve fiscal discipline, to
support construction projects in the private sector, to expand tourist
facilities, to reduce crime, and to protect the environment
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Source
: CIA |
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IDENTIFICATION |
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Ordered as: |
INNUA PETROCHEM LIMITED |
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Address in the order: |
3 CATHERINE CHRISTROPHER BUILDING P.O. BOX 3069, ROAD TOWN, TORTOLA BRITISH |
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Comments on data supplied: |
The address provided in the order is the operative address
of the company. |
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Legal Name: |
Innua Petrochem Ltd |
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Legal Address |
1st Floor Yamraj Building, P.O. Box 3321 |
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Postal Town |
Town Road |
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Post Code |
VG1110 |
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Primary Geographic Area |
Tortola |
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Country |
VG |
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Operative Address |
P.O. Box 3069, 3 Catherine Christopher Building Road Town,
Tortola, British Virgin Islands |
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Mailing Address |
P.O. Box 3069, 3 Catherine Christopher Building Road Town,
Tortola, British Virgin Islands |
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Telephone: |
(284) 495-0244 |
Registration Number : |
730393 |
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Fax: |
(284) 495-0245 |
Legal Form: |
Limited Company |
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Email: |
lara.harris@innua.com / stan.sexton@innua.com |
Registered in: |
VG |
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Website: |
www.innua.com |
Date Created: |
2004 |
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Manager: |
Lara Harris - President |
Date Incorporated: |
June 16, 2004 |
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Staff: |
8 |
Stock: |
N.A. |
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Value: |
10 000 USD |
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Activity: |
Trading of PVC and plasticizers. |
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Management: |
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Lara Harris, President Stan Sexton, Chief Financial Officer Sam Tucker, Director – International Trade Oscar Rustrian, Director – Latin American Trade David Harris, Senior Trade Consultant Gail Harris, Financial Consultant |
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Legal Fillings |
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The sources
consulted record no detrimental legal or labor court information. |
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Shareholders - Manager -
Related Companies |
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Listed at the stock exchange: |
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NO |
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PAYMENTS |
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made on a 10 days basis - monitored over the last 12
months |
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Shareholders Parent Company(ies): |
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The subject company is subsidiary of the Bruneval Group
S.A. Tel: (284) 495-0244 |
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Related Companies: |
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Innua Australia Innua USA Inc. Innua Europe SA Innua China Ltd Innua Petrochem Latin America Sales Office |
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Financials - COMMERCIAL TRENDS
AND FORECAST |
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As a private company the subject does not publish any financial
statements. |
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We have previously contacted Stan Sexton (Chief Financial
Officer) who refused to provide us any financial data on grounds of
confidentiality. |
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However our financial sources could provide us with the
following data. Those figures are estimates provided by confidential
banking and financial institutions working with the company. |
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Currency |
DATE |
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USD |
2012 |
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Turnover |
8 915 000 |
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Operating Income |
1 895 000 |
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Net Income |
1 500 000 |
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Net worth |
6 500 000 |
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Bank liabilities |
200 000 |
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The cash flow is |
Good |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
8 000 000 |
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Operating Income |
1 700 000 |
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Net Income |
1 500 000 |
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Net worth |
5 000 000 |
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Bank liabilities |
380 000 |
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The cash flow is |
Good |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
7 900 000 |
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Operating Income |
1 500 000 |
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Net Income |
1 400 000 |
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Net worth |
3 000 000 |
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Bank liabilities |
600 000 |
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The cash flow is |
Good |
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Comments on the financial data: We have contacted Mr.Sam
who refused to provide us any financial data on grounds of confidentiality. |
Na
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: British overseas territory -
Parliamentary system
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Currency: USD |
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BANKS |
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Name of the Bank |
VP Bank ( BVI) Limited |
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Location |
British Virgin Islands |
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Account Number |
Confidential |
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Name of the Bank |
Garantibank International |
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Location |
Amsterdan |
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Account Number |
Confidential |
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BUSINESS HISTORY |
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The company has been operating since 2004. |
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PRINCIPAL ACTIVITY |
The subject company specialises in the trading of PVC and
plasticizers. |
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Products/Services description: |
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The company is a supply partner for PVC and plasticizers,
wherever you are in the world, they provides plastics manufacturing solutions
to 64 countries across the world. Innua trades in Polyvinyl Chloride (PVC) in suspension,
mass and emulsion forms. They also offer PVC Co-Polymers and Compounds. |
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Sales are: |
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Wholesale |
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Brands: |
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Innua. |
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Suppliers: |
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Petrochemical producers around the globe and others
including: Nan Ya Plastics UPC Technologies Polynt China General Plastic Corporation Tolachem |
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Operations area: |
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National, International |
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The company imports from China Taiwan, USA and India. |
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The company exports to worldwide. |
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Trade References: |
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Company: Polynt Contact person: Diago Zenardi Country: Italy Time doing business: Over 2 Years Products: Plasticizers Payment facility: 30 Days Company: Tolachem Contact person: Alexis Thomas Phone: +1 2845411813 Time doing business: 2 years Products: Plasticizers Payment facility: 30 days |
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Insurance: |
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Price Forbes (Lloyds of London) |
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The subject employs 8 employee(s) |
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Comments on staff: |
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The staff number was not confirmed by the company. |
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LOCATION |
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Headquarters |
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The company is headquartered at P.O. Box 3069, 3 Catherine
Christopher Building Road Town, Tortola, British Virgin Islands. |
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Surface area: |
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800 sq. ft. |
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The property is: |
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Rented |
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Comments on location: |
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The administrative office and operations of the company
can be found at the above listed address. |
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Branches: |
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No branches were reported. |
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Rating |
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Local credit bureau gave a
credit rate. The company is in Good Standing. This means that all local
and federal taxes were paid on due date. |
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SUMMARY |
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Profitability |
GOOD |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
GOOD |
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Final Opinion |
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This is a privately held company with more than 8 years of
experience. They currently have the support of 8 employees for this
reason it is considered a small sized company. The company is part of the Bruneval Group SA. The subject company specializes in the trading of PVC and
plasticizers. The company also deals with well known banks in BVI and
Amsterdam. The figures available show that the company has a
controlled indebtedness and that the cash is good. Also, our searches revealed that the payments are regular. Considering the information gathered |
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APPENDIX |
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Person Interviewed |
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Mr.Sam |
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Position |
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International Trade |
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Comments |
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The company requested an email or fax in order to help us. Until today we did not received any answer back. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.48 |
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|
1 |
Rs.99.66 |
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Euro |
1 |
Rs.83.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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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.