|
Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
CONTINENTAL JEWELLERY (MFG.) LTD. |
|
|
|
|
Registered Office : |
Unit M & N, 1/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street,
Hunghom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
25.07.1975 |
|
|
|
|
Com. Reg. No.: |
04502967 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Wholesaler and Exporter of All kinds of jewellery such
as goldsmith jewellery, platinum jewellery, stones and gems jewellery,
diamond and pearl jewellery |
|
|
|
|
No. of Employees : |
Approx. 1,090. (As at
31-12-2012) |
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) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
hong kong - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on
international trade and finance - the value of goods and services trade,
including the sizable share of re-exports, is about four times GDP. Hong Kong
levies excise duties on only four commodities, namely: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong
Kong's open economy left it exposed to the global economic slowdown that began
in 2008. Although increasing integration with China, through trade, tourism,
and financial links, helped it to make an initial recovery more quickly than
many observers anticipated, it again faces a possible slowdown as exports to
the Euro zone and US slump. The Hong Kong government is promoting the Special
Administrative Region (SAR) as the site for Chinese renminbi (RMB)
internationalization. Hong Kong residents are allowed to establish
RMB-denominated savings accounts; RMB-denominated corporate and Chinese
government bonds have been issued in Hong Kong; and RMB trade settlement is
allowed. The territory far exceeded the RMB conversion quota set by Beijing for
trade settlements in 2010 due to the growth of earnings from exports to the
mainland. RMB deposits grew to roughly 9.1% of total system deposits in Hong
Kong by the end of 2012, an increase of 59% from the previous year. The
government is pursuing efforts to introduce additional use of RMB in Hong Kong
financial markets and is seeking to expand the RMB quota. The mainland has long
been Hong Kong's largest trading partner, accounting for about half of Hong
Kong's exports by value. Hong Kong's natural resources are limited, and food
and raw materials must be imported. As a result of China's easing of travel
restrictions, the number of mainland tourists to the territory has surged from
4.5 million in 2001 to 34.9 million in 2012, outnumbering visitors from all
other countries combined. Hong Kong has also established itself as the premier
stock market for Chinese firms seeking to list abroad. In 2012 mainland Chinese
companies constituted about 46.6% of the firms listed on the Hong Kong Stock
Exchange and accounted for about 57.4% of the Exchange's market capitalization.
During the past decade, as Hong Kong's manufacturing industry moved to the
mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011,
and less than 2% in 2012. Credit expansion and tight housing supply conditions
caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in
2012. Lower and middle income segments of the population are increasingly
unable to afford adequate housing. Hong Kong continues to link its currency
closely to the US dollar, maintaining an arrangement established in 1983.
|
Source
: CIA |
CONTINENTAL JEWELLERY
(MFG.) LTD.
Unit M & N, 1/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street,
Hunghom, Kowloon, Hong Kong.
PHONE: 852-2363 8882
FAX: 852-2765 7516
E-MAIL: mailnet@continental.com.hk
Chairman & Managing Director:
Mr. Chan Sing Chuk, Charles
Incorporated on: 25th July, 1975.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$10,000,000.00
Business Category: Jewellery
Manufacturer and Wholesaler.
Group Turnover: HK$955,712,000 (Year ended 30-06-2012)
Group Employees: Approx. 1,090. (As at 31-12-2012)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
CONTINENTAL
JEWELLERY (MFG.) LTD.
Registered Head
Office:-
Unit M & N, 1/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street,
Hunghom, Kowloon, Hong Kong.
Shop:-
OT 206, Ocean Terminal, Tsimshatsui, Kowloon, Hong Kong.
[Tel: 852-2730 7313, 852-2730 0561]
Main China
Factory:-
Continental Jewellery (Jiangmen) Co. Ltd., China.
China and Overseas
Factories:-
China (Shanghai, Guangzhou, Panyu) and Canada (Ontario).
Parent Company:-
Continental Holdings Ltd., Hong Kong.
(Same address)
Associated/Affiliated
with:-
Amco Jewelry Ltd., Hong Kong.
Brangredi Ltd., Hong Kong.
C.J. (UK) Ltd., U.K.
Conti Diamond Ltd., Hong Kong.
Continental Investment Co. Ltd., Hong Kong.
Continental Property Holdings Ltd., Hong Kong.
DCGS Management Service Ltd., Hong Kong.
Diamond Creation Ltd., Hong Kong.
General Jewellery (Shanghai) Co. Ltd., China.
Golden Creation Jewellery Ltd., Hong Kong.
Master Gold Development Ltd., British Virgin Islands.
Ming Xiu Diamond Cutting Factory Ltd., Hong Kong.
Multi-Minerals Ltd., Hong Kong.
Patford Co. Ltd., Hong Kong.
Precious Palace International Ltd., British Virgin Islands.
Real Jewellery Ltd., Hong Kong.
Realford Co. Ltd., Hong Kong.
Wealth Plus Developments Ltd., British Virgin Islands.
Well Friendship Investment Ltd., Hong Kong.
Wilber Corporate Services Ltd., Hong Kong.
Yett Holdings Ltd., British Virgin Islands.
etc.
04502967
0043649
Chairman & Managing Director:
Mr. Chan Sing Chuk, Charles
Contact Person: Mr. Chan Wai Lap,
Victor
Nominal Share Capital: HK$10,000,000.00
(Divided into 10,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000,000.00
(As per registry dated 25-07-2013)
|
Name |
|
No. of shares |
|
Continental Holdings Ltd., Hong Kong. |
|
9,999,999 |
|
Castle Jewellery Ltd., Hong Kong. |
|
1 |
|
|
|
––––––––– |
|
|
Total: |
10,000,000 ======== |
(As per registry dated 25-07-2013)
|
Name (Nationality) |
Address |
|
CHAN Sing Chuk, Charles (Chinese) |
75 Deep Water Bay Road, Hong Kong. |
|
CHAN Wai Kei, Vicki (American) |
75 Deep Water Bay Road, Hong Kong. |
|
CHENG Nai Yan, Jackson (Chinese) |
Flat M, 1/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom,
Kowloon, Hong Kong. |
|
CHENG Siu Yin, Shirley (Chinese) |
75 Deep Water Bay Road, Hong Kong. |
|
CHAN Wai Lap, Victor |
75 Deep Water Bay Road, Hong Kong. |
(As per registry dated 25-07-2013)
|
Name |
Address |
Co. No. |
|
Castle Jewellery Ltd. |
Unit M & N, 1/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street,
Hunghom, Kowloon, Hong Kong. |
0069639 |
The subject was incorporated on 25th July, 1975 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Manufacturer,
Wholesaler and Exporter.
Lines: All kinds of
jewellery such as goldsmith jewellery, platinum jewellery, stones and gems
jewellery, diamond and pearl jewellery.
Brand Name: QuottourTM
Collection.
Authorized Distributors:-
C.J. (UK) Ltd., U.K.
Continental Jewelry (USA) Inc., U.S.A.
Etruscan Jewellery (1988) Ltd., Canada.
Qualigem Ltd., Canada.
Employees: 150. (Company)
Approx.
1,090. (The Group) (As at 31-12-2012)
Materials/Commodities:-
Diamonds – Israel, Belgium and India.
Sapphires and rubies – Thailand.
Emeralds – India, Columbia and Israel.
Pearls – Japan and China.
Opals – Australia.
Markets: Hong
Kong, China, Japan, North America, Canada, Australia, U.K., Spain and Europe.
Group Turnover: HK$1,497,682,000 (Year ended 30-06-2008)
HK$1,189,622,000 (Year ended 30-06-2009)
HK$1,031,708,000 (Year ended 30-06-2010)
HK$
973,501,000 (Year ended
30-06-2011)
HK$
955,712,000 (Year ended
30-06-2012)
HK$
506,025,000 (6 months ended
31-12-2012) - Unaudited
Terms/Sales: COD or as per contracted.
Terms/Buying: L/C, T/T or D/P.
Federation of Hong Kong Industries,
Hong Kong. [Member No. A2129]
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKC0185]
Young Industrialists Council Ltd., Hong Kong.
The Hong Kong Jade & Stone Manufacturers Association, Hong Kong.
The Diamond Importers Association, Hong Kong.
Hong Kong Jewellery & Jade Manufacturers Association,
Hong Kong. [No.#070]
Hong Kong Jewelry Manufacturers’ Association, Hong Kong.
Nominal Share Capital: HK$10,000,000.00
(Divided into 10,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000,000.00
Alternation of Capital:-
|
23-07-1975 |
paid up |
HK$ 200.00 |
|
03-09-1975 |
paid up |
HK$ 199,800.00 |
|
16-06-1976 |
paid up |
HK$ 410,000.00 |
|
30-06-1978 |
paid up |
HK$ 390,000.00 |
|
25-01-1986 |
paid up |
HK$ 9,000,000.00 |
|
|
|
–––––––––––––––– |
|
Total: |
paid up |
HK$ 30,000,000.00 ============== |
Increase of Nominal Capital:-
|
From |
HK$1,000,000.00 |
to |
HK$10,000,000.00 |
on |
25-01-1986 |
Mortgage or Charge: (See
attachment)
Group Net Profit: HK$ 90,283,000
(Year ended 30-06-2008)
HK$
72,272,000 (Year ended 30-06-2009)
HK$
4,595,000 (Year ended 30-06-2010)
HK$
29,741,000 (Year ended
30-06-2011)
HK$212,526,000 (Year ended 30-06-2012)
HK$
5,805,000 (6 months ended
31-12-2012) - Unaudited
Group Net Worth: HK$ 940,385,000
(Year ended 30-09-2008)
HK$1,044,627,000 (Year ended 30-09-2009)
HK$1.006,459,000 (Year ended 30-09-2010)
HK$1,033,138,000 (Year ended 30-09-2011)
HK$1,645,618,000 (Year ended 30-09-2012)
HK$1,674,499,000 (6 months ended 31-12-2012) - Unaudited
Profit or Loss: Group
business is profitable.
Condition: Keeping
in an active and good condition.
Facilities: Making
active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong.
Standard Chartered Bank (HK) Ltd.,
Hong Kong.
Sumitomo Mitsui Banking Corporation,
Hong Kong Branch.
JPMorgan Chase Bank, Hong Kong.
Standing: Very Good.
Continental Jewellery (Mfg.) Ltd. is a wholly-owned subsidiary of Continental
Holdings Ltd. [Group] which is a listed firm in Hong Kong.
The subject is principally engaged in designing, manufacturing and
marketing of fine jewellery products primarily for export. Its main overseas markets are the United
States, Europe, Canada, Japan and Australia.
Sales teams and offices are set up in Hong Kong, the United States, the
United Kingdom, Canada and Spain. Some
of its jewellery products are also marketed in Hong Kong through its retailing
outlet in Ocean Terminal, Tsimshatsui, Kowloon, Hong Kong. This outlet carries new product line QUATTOUR
and also markets under the corporate image CONTINENTAL DIAMOND.
The subject has got production plants in Hong Kong, China, Canada, Spain
and Switzerland. It is regarded as one
of the leaders in fine jewellery manufacturing in Hong Kong.
The Group has got the ISO 9001 certification.
The establishment of a factory in Jiangmen City, Guangdong Province,
China was completed in the second quarter of 2004. The Jiangmen factory is engaged in diamond
cutting and jewellery manufacturing. The
Jiangmen factory is the principal factory of the subject in China.
Besides the Jiangmen factory, the Group already has had two diamond
cutting factories and three jewellery manufacturing factories.
The Group has set up two retailing outlets in Beijing, China.
Besides jewellery manufacturing and trading, the Group is also engaged
in property development.
During the fiscal year 2012, the Group achieved a turnover of HK$955.7
million (2011: HK$973.5 million). Profit
attributable to owners of the Group was HK$214.9 million (2011: HK$33.4
million) The increase in profit was
mainly attributable to the gain on bargain purchase arising on the acquisition
of subsidiaries engaging in mining and exploration of mineral resources in
China, which offset partially by the impairment loss of available-for-sale
financial assets and share-based compensation.
The acquisition of the Big Bonus Ltd. and its subsidiaries (the “Big
Bonus Group”) was completed on 12th October, 2011. Big Bonus Group holds 100% interests in the
Hongzhuang Gold Mine, which is located in Luanchuan County, Henan
Province. The project takes place mainly
on two mining areas of 1.09 km2 and 4.57 km2. Currently the mine is in a trial production
state. Simultaneously, detailed studies
on future production have also begun in early 2012. These studies included pre-production
exploration to identify and prioritise mining target.
The Group’s consolidated turnover for the six months ended 31st
December, 2012 recorded a slight decrease of 3.8% from the previous interim of
HK$525.9 million to HK$506.0 million.
Net Profit of the Group was just HK$5.8 million as compared with
HK$245.2 million in the same period of previous years. Such decrease in profit is mainly attributable
to the absence of the one-off gain arising from acquisition of subsidiaries
engaging in mining and exploration of mineral resources in China recorded in
the previous interim.
As at 31st December, 2012, the Group employed a total of approximately
1,090 employees (30th June 2012: 1,155) with the majority in China.
The subject is fully backed by the Group.
On the whole, in view of the parentage of the subject, consider it good
for normal business engagements.
Brief personal profile of the directors:-
Mr. CHAN Sing Chuk, Charles, BBS, JP, is the Chairman and founder of the Group.
Dr. Chan is an executive Director of the Company and holds directorship in
various subsidiaries of the Group. He is
responsible for strategic planning, corporate development and investment of the
Group.
Dr. Chan has over 50 years of experience in the jewellery industry. He
is currently the President of the Hong Kong Jewellery & Jade Manufacturers
Association; Appointed Member of the University Court of The HK University of
Science & Technology; Member of Product Promotion Programme Committee of
the HKTDC; as well as a member of other trade associations. In community,
charitable and political involvements, Dr. Chan is the Permanent Honorary
Director of Friends of Hong Kong Association Ltd., and Member of The
Association of Chairmen of The Tung Wah Group of Hospitals. Dr. Chan was
appointed a committee member of the City of Jiangmen Chinese People’s Political
Consultative Conference since 2003; and the Executive Vice President of
Jiangmen Overseas Chinese Enterprise Federation since 2006.
Ms. CHENG Siu Yin, Shirley, has been with the Group for 40 years and
is responsible for marketing and corporate policy development of the
Group. She has over 40 years’ experience
in jewellery design, product development, production and marketing of the
Group’s export business. She is the wife
of Mr. Chan Sing Chuk.
Ms. CHAN Wai Kei, Vicki, joined the group in 1995. She is responsible for the retail operation
and the business administration functions in the Group. Ms. Chan is a graduated from University of
California, Berkeley with a Bachelor of Arts
degree in Economics. Ms. Chan is
a Graduate Gemologist of the Gemological Institute of America. She is Charter President of Zonta Club of
Hong Kong II, actively involved in the Zonta Community. She is the daughter of Dr. Chan Sing Chuk,
Charles.
Mr. CHAN Wai Lap, Victor, joined the Group in 2000. He is responsible for all sales and marketing
activities as well as business development and investments of the Group. Mr. Chan graduated from Babson College in
Boston, Massachusetts with a Bachelor of Science double major in Entrepreneurial
Studies and Finance. He worked in both
banking and manufacturing industry prior to joining the Group. Mr. Chan is the Founder and President of
Entrepreneurs’ Organization China South, and the Vice Chairman of The Hong Kong
Jewellery & Jade Manufacturers Association.
He is also the Founding Chairman of the Youth Chapter of the Hong Kong
Young Industrialists Council. Mr. Chan
is the son of Dr. Chan Sing Chuk, Charles.
Property information of
the company:-
1. Property Location: Unit P on 1/F., Kaiser Estate, Phase 3,
11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.
Owner: Continental Jewellery (Mfg)
Ltd.
Date of Purchase: 10-11-1986
Purchased Price: HK$2,600,000
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
04-06-1987 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
2. Property Location: Unit P on 2/F., Kaiser Estate, Phase 3,
11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.
Owner: Continental Jewellery
(Mfg.) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances: (Under the same
mortgage deed as Property 1)
3. Property Location: Unit A on 12/F. and Car Parking Space
No. 30, Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon, Hong
Kong.
Owner: Continental Jewellery
(Mfg.) Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances: (Under the same
mortgage deed as Property 1)
|
Date |
Particulars |
Amount |
|
04-06-1987 |
Instrument: Mortgage Property: 1) 80/5,000th parts or
shares of and in Section I of Kowloon Marine Lot No. 40 and Subsection 1 of
Section H of Kowloon Marine Lot No. 40 (Unit P on 2/F. of Kaiser Estate,
Phase 3, 11 Hok Yuen Street, Kowloon, Hong Kong.) 2) 86/5,000th parts or
shares of and in Section D of Kowloon Marine Lot No. 40 and Subsection 2 of
Section H of Kowloon Marine Lot No. 40 (Unit A on 12/F. and Car Parking Space
No. 30 of Kaiser Estate, Phase 3, 11 Hok Yuen Street, Kowloon, Hong Kong.) Note: Unit A on 12/F. was released on 27-10-2008. 3) 79/5,000th parts or
shares of and in Section I of Kowloon Marine Lot No. 40 and Subsection 1 of
Section H of Kowloon Marine Lot No. 40 (Unit P on 1/F. of Kaiser Estate,
Phase 3, 11 Hok Yuen Street, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
To secure general banking facilities |
|
04-02-2009 |
Instrument: Subordination Agreement Property: The Company, as beneficial owner, assigns and transfers to the Lender
all the right, title and interest of the Company as a creditor to , of and in
the Agreements and the full benefit and right to receive and recover the
Subordinated Indebtedness Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
Secured Indebtedness |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term performance
– focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.14 |
|
|
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.84.37 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.