MIRA INFORM REPORT
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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
PRESENTATION APPARELS LIMITED |
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Registered Office : |
Ahmed Complex, Plot # 26, Road # 4, Sector# 1, CEPZ,
Chittagong |
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Country : |
Bangladesh |
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Date of Incorporation : |
16.02.2005 |
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Com. Reg. No.: |
CH-5344 |
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Legal Form : |
Private Co |
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Line of Business : |
Manufacturer
of Shirts, Ladies Shirts, Paints. |
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No. of Employees : |
1000 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Bangladesh |
B1 |
B1 |
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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 |
BANGLADESH - ECONOMIC OVERVIEW
In real terms Bangladesh's economy has grown 5.8% per year
since 1996 despite political instability, poor infrastructure, corruption, insufficient
power supplies, and slow implementation of economic reforms. Bangladesh remains
a poor, overpopulated, and inefficiently-governed nation. Although more than
half of GDP is generated through the service sector, 45% of Bangladeshis are
employed in the agriculture sector with rice as the single-most-important
product. Bangladesh's growth was resilient during the 2008-09 global financial
crisis and recession. Garment exports, totaling $12.3 billion in FY09 and
remittances from overseas Bangladeshis, totaling $11 billion in FY10, accounted
for almost 12% of GDP
Source
: CIA
IDENTIFICATION DETAILS
|
Correct company Name |
: |
Presentation Apparels Limited |
|
Head Office |
: |
Ahmed Complex, Plot # 26, Road # 4, Sector# 1, CEPZ, Chittagong, Bangladesh |
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Tel No |
: |
88-031-741278, 741405,741800,740685 |
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Fax No |
: |
88-031-740419, 741794 |
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E-mail |
: |
siddique@chittagongfashion.com reza@chittagongfashion.com hafiz.bn@ctgfashion.com hafiz.kn@ctgfashion.com |
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Website |
: |
www.ctgfashion.com |
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Date/ Year of Incorporation |
: |
16/02/2005 |
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Incorporation
No. |
: |
CH-5344 |
|
Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole Proprietorships Partnership Not Registered others (please specify) ________________ |
|
Legal form (Specific) |
: |
LTD
CORP
INC CO
others (please specify) ________________ |
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Issuing Authority |
: |
Registrar of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
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Year |
Turnover/ Sales |
Assets |
Income |
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2011 |
Tk.175 Million |
Tk.7.5 Million |
Tk.1.64 Million |
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2012 |
Tk.180 Million |
Tk.8 Million |
Tk.1.95 Million |
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Exchange Rate |
USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286 |
CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399 |
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Sales Trend – Analysis: |
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2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
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FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Polash Bhattacharja |
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Designation |
: |
Commercial Officer |
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Contract No |
: |
- |
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Locations Details |
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Business Address |
: |
Ahmed Complex, Plot # 26, Road # 4, Sector# 1, CEPZ, Chittagong, Bangladesh |
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Tel No |
: |
88-031-741278, 741405,741800,740685 |
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E-mail |
: |
88-031-740419, 741794 |
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Fax No |
: |
siddique@chittagongfashion.com reza@chittagongfashion.com hafiz.bn@ctgfashion.com hafiz.kn@ctgfashion.com |
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Website |
: |
www.ctgfashion.com |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
2500 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
Ö |
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Semi-commercial office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory: |
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Address |
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Plot #27 Road # 04 Sector #01 CEPZ, Chittangong, Bangladesh |
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Owned |
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Rented |
Ö |
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Leased |
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Area |
55,000 |
Sq. ft. |
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Employee: |
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No. of
Employees |
In Office |
: |
25 |
In Factory |
: |
975 |
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In Branch: |
: |
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Total |
: |
1000 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of
Shareholders |
No. of Share |
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Mr.Anis Ahmed Bhuiyan |
1000 |
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Mr.Hafiz Ahmed Bhuiyan |
1000 |
DIRECTORS
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Name |
Designation |
|
Mr. Anis Ahmed Bhuiyan |
Managing
Director |
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Mr. Hafiz Ahmed Bhuiyan |
Director |
MANAGEMENT
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Name |
: |
Mr. Polash Bhattacharja |
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Job Description |
: |
Commercial Officer |
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Nationality |
: |
Bangladshi |
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Email address |
: |
- |
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Other details |
: |
- |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
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Importer |
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Others |
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Range of
Products/Item Dealings In: |
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Products |
: |
Shirts, Ladies Shirts, Paints |
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Production Capacity |
: |
1, 02,000 Doz. Per year |
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Last Year
Production |
: |
Do |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
DETAILED DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
K-Mar- USA Wal-Mart- USA |
Local Suppliers |
: |
N/A |
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Trade Markets |
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Exports |
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USA |
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Imports |
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China, India |
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Brand Name |
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N/A |
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Certified |
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Nil |
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Auditors |
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N/A |
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Operation Status |
: |
Active |
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Member |
: |
Bangladesh Garments Manufacturer & Exporters Association |
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CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.10 Million |
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Paid-up Capital |
: |
Tk.200000 |
No. of Shares |
: |
2000 |
Share Value |
: |
Tk.100.00Each |
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Main Assets |
: |
Tk.8 Million |
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FINANCIAL STATEMENT- DETAILED
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The subject company don’t submit update financial figure
to local registry office. |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Sister Concerns |
: |
The Overseas Apparels & Embroidery Ltd The Overseas Apparels & Embroidery Ltd Chittagong Fashion Specialized Textiles Ltd The Overseas Composite Knit Industries Chittagong Fashion Millennium Textiles Ltd Chittagong Fashion Wear Limited Chittagong Fashions Printing & Packaging Ltd Khawaja Button Industries The Chittagong Fashion Ltd |
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Subsidiary |
: |
N/A |
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Name of
The Group |
: |
Chittagong Fashion Group |
BANKING
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Bank Name |
: |
Agrani Bank Limited |
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Bank Address |
: |
Bay Shoping Centre Branch CEPZ Area, Chittagong-4100 Fax: 88-031-740926 Tel: 88-031-740926, 8000421 |
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Bank Name |
: |
National Credit and Commerce Bank Limited |
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Bank Address |
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Chittagong, Bangladesh Nur Chamber, (Ground Floor), 34, Agrabad C/A Agrabad, Email: agrabad@nccbank.com.bd Tel: 88- (031) 712219, 713336, 713440, 721045031 Fax: 88-031-721045 |
ADVERSE DATA MONITORING
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Dishonored
Checks |
:
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No Record
Found |
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Debt |
: |
No Record
Found |
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Litigation |
: |
Clear |
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Performance
Defaults |
: |
No Record
Found |
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Adverse Local Media
Coverage/ Adverse Filling History |
: |
No Record
Found |
SITE VISIT COMMENTARY
|
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Our representative visited the subject company address of Ahmed Complex, Plot # 26, Road # 4, Sector# 1, CEPZ, Chittagong, Bangladesh |
GENERAL COMMENTS
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The subject company established 2005 & engaged in Manufacturer & Exporter Readymade Garments. We recommend that Credit can proceed normally in Moderate amount. |
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Adopted Abbreviations: |
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NA- Not
Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.90 |
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Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
|
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 |
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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 |
|
<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.