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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
QNOVA SA |
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Registered Office : |
Carretera Al pacifico Km. 19.3, Granjas Italia, No 5, Zona 4 Villanueva |
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Country : |
Guatemala |
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Date of Incorporation : |
07.02.2007 |
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Legal Form : |
Stock Company |
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Line of Business : |
Subject was engaged to the importation, commercialization
and distribution of chemical products in general. |
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No. of Employees : |
Not Available |
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
|
Guatemala |
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 |
GUATEMALA - ECONOMIC OVERVIEW
Guatemala is the most populous country in Central America
with a GDP per capita roughly one-half that of the average for Latin America
and the Caribbean. The agricultural sector accounts for 13% of GDP and 38% of
the labor force; key agricultural exports include coffee, sugar, bananas, and
vegetables. The 1996 peace accords, which ended 36 years of civil war, removed
a major obstacle to foreign investment, and since then Guatemala has pursued
important reforms and macroeconomic stabilization. The Dominican
Republic-Central American Free Trade Agreement (CAFTA-DR) entered into force in
July 2006 spurring increased investment and diversification of exports, with
the largest increases in ethanol and non-traditional agricultural exports.
While CAFTA-DR has helped improve the investment climate, concerns over
security, the lack of skilled workers and poor infrastructure continue to
hamper foreign direct investment. The distribution of income remains highly
unequal with the richest 20% of the population accounting for more than 51% of
Guatemala's overall consumption. More than half of the population is below the
national poverty line and 13% of the population lives in extreme poverty.
Poverty among indigenous groups, which make up 38% of the population, averages
73% and extreme poverty rises to 28%. Nearly one-half of Guatemala's children
under age five are chronically malnourished, one of the highest malnutrition
rates in the world. Given Guatemala''s large expatriate community in the United
States, it is the top remittance recipient in Central America, with inflows
serving as a primary source of foreign income equivalent to nearly two-fifths
of exports or one-tenth of GDP. Economic growth fell in 2009 as export demand
from US and other Central American markets dropped and foreign investment
slowed amid the global recession. The economy gradually recovered in 2010-12
Source
: CIA
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IDENTIFICATION |
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COMPANY NAME |
QNOVA SA |
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TRADE NAME |
QNOVA |
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TAX ID TYPE |
NIT |
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TAX ID NUMBER |
5214910-2 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Carretera al pacifico Km. 19.3, Granjas Italia, Nº 5, Zona 4 |
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CITY/PROVINCE/STATE |
Villanueva |
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PHONE NUMBER(S) |
(502) 6630.5353 |
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FAX NUMBER |
(502) 6630.7381 |
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|
infor@quirsa.com.gt |
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WEB SITE |
www.quirsa.com.gt (Corporate) |
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COMMENTS OF IDENTIFICATION.- |
This report was requested with company ONOVA SA, which is incorrect. Please be advised that the correct company name corresponding to subject is as shown in the heading. This report was requested with address Carretera Al pacifica Kilometro 19 3 Granias italia No. 5 Villa Nueva. Please be advised that the correct address corresponding to subject is as shown in caption. |
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LEGAL ASPECTS |
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
07/02/2007 |
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REGISTERED IN |
Villanueva |
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DURATION |
Unlimited |
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REGISTRATION |
Deed No 15 |
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INITIAL CAPITAL |
Qz.5,000.00 Quetzales |
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LISTED AT STOCK EXCHANGE |
NO |
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CREDIT OPINION |
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The subject is a commercial company with 6 years in market, which operations are estimated to be normal without detrimental. Also, it is part of a growing business group. |
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BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
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NAME |
JOB TITLE |
% STAKE |
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REITZEL HACK, GUNTHER HEINRICH |
President/General Manager |
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ALBUREZ BARRIOS, CLAYTON ESTUARDO |
Finance Manager |
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REITZEL PRETI, ALEXANDER HUMBERTO |
Imports Manager |
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SOSA, CARLOS |
Accountant |
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No negative information found.
N/a
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LOCAL SUPPLIERS |
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Name |
Contact |
Telephone |
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DISTRIBUIDORA Y DROGUERIA DEL CARIBE SA |
Victor Peralta |
(502) 2326.6666 |
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BASF DE
GUATEMALA SA |
Olga Gracias |
(502) 2445.7600 |
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FOREIGN SUPPLIERS |
|||
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Name |
Contact |
Telephone/fax |
Country |
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UNGBUNZLAUER AUSTRIA AG |
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AUSTRIA |
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ROTEM AMFERT NEGEV LTD CO |
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ISRAEL |
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JRS PHARMA GMBH
& CO KG |
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GERMANY |
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SINOCHEM JIANGSU CORPORATION |
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CHINA |
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MACCO ORGANIQUES SRO |
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CZECH REPUBLIC |
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FRESENIUS KAI AUSTRIA GMBH |
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AUSTRIA |
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NITIKA PHARMACEUTICAL SPECIALITIES PVT LTD |
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INDIA |
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RELATED COMPANIES |
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NAME |
TAX ID. NUMBER |
COUNTRY |
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CORPORACION QUIRSA SA |
2641158-K |
GUATEMALA |
|
QUIMICA REITZEL
DE EL SALVADOR SA DE CV |
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EL SALVADOR |
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REPRESENTACIONES Y QUIMICOS SA |
2641153-9 |
GUATEMALA |
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COMMENTS ON LEGAL
ASPECTS .- |
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The subject was constituted on 07/02/2007. Later, on 20/02/20007, it was registered in the Management Tax Services (SAT). Also, it was provisionally registered in the Mercantile Registry. On 15/03/2007, it was definitively registered in the Mercantile Registry. |
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FINANCIAL
INFORMATION |
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CONTENT.- |
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We interviewed Mr. Clayton Alburez (Finance Manager), who denied to provide commercial information regarding subject on grounds of confidentiality. For this reason, this report was elaborated with information obtained from outside sources. It is worthy of mention that it was not possible to obtain financial figures from outside sources. QNOVA SA is a commercial company established in 2007, from which negative background detrimental to its operations has not been found. COUNTRY CONTEXT - GUATEMALA: The below information has been obtained from a highly regarded public source that issues comments on all of world's countries. Taxes: - Guatemalan income tax: 5% on the net profit-business: - Alphabetic currency code for every country by the International Organization for Standardization (ISO) 4217:Quetzal (GTQ). Main economic indicators: - External debt: US$16.17 billion (31 December 2012 est.) - International net reserves: US$6.311 billion (31 December 2012 est.) - Inflation rate forecasted: 4% (2012 est.) - GDP real growth rate: 3.1% (2012 est.) - Annual GDP per capita: US$5,200 (2012 est.) GDP - composition by sector: agriculture: 13% industry: 23.8% services: 63.2% (2012 est.) - Labour force of 5.571 million people divided by: agriculture: 38% industry: 14% services: 48% Unemployment rate: 4.1% (2011 est.) Productivity sectors: Agriculture - products: sugarcane, corn, bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens - Industrial- products:: sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism Foreign trade: Exports: US$9.864 billion (2012 est.) country comparison to the world: 95 Exports - commodities: coffee, sugar, petroleum, apparel, bananas, fruits and vegetables, cardamom Exports - partners: US 37.9%, El Salvador 10.5%, Honduras 6.8%, Mexico 5.1% Imports: US$15.57 billion (2012 est.) country comparison to the world: 86 Imports - commodities: fuels, machinery and transport equipment, construction materials, grain, fertilizers, electricity, mineral products, chemical products, plastic materials and products Imports - partners: US 40.4%, Mexico 11.6%, China 8.2%, El Salvador 4.5% Final Brief: Commercial Country Risk: LOW Political Country Risk: LOW |
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DETAILS OF FIXED
ASSETS.- |
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The subject counts with: - Office equipments - Furnishings - Tools Among others. |
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INSURANCE.- |
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The subject holds all loss insurance policy with SEGUROS Y FINANZAS G Y T CONTINENTAL SA (coverage amount and maturity date were not supplied). |
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CREDIT FILES |
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Consulted suppliers just confirmed to have subject as client without giving further information on grounds of confidentiality. |
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RATE OF EXCHANGE |
US$1.00 = Q.7. |
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WHO IS WHO? |
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REITZEL HACK, GUNTHER HEINRICH |
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German (naturalized Guatemalan), Married Ana Maria Preti de Reitzel, With Address: Calle 18-26, Zona 15 Colonia VH, Guatemala, Tel. (502) 2365.8101,. |
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OPERATIONS |
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SECTOR |
2.-TRADE (WHOLESALE) |
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ACTIVITY |
CHEMICAL PRODUCTS |
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ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
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ISIC CLASS |
5149-Wholesale of Chemical Substances, Textile Fibers, Manure, etc. |
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MAIN ACTIVITY |
The subject was engaged to the importation, commercialization and distribution of chemical products in general. |
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% CASH SALES/PAYMENT METHOD |
30% |
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% CREDIT SALES/TERMS |
70% (Invoices at 30 days) |
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TERRITORY OF SALES |
100% (National market) |
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% LOCAL PURCHASING |
20% |
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% FOREIGN PURCHASING |
80% |
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N. OF EMPLOYEES |
50 (approximately) |
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LOCATION |
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TAX DOMICILE, ADMINISTRATIVE OFFICES, COMMERCIAL OFFICE and WAREHOUSES: Located at captioned address in a commercial zone of easy access. 2-story premises property of CORPORACION QUIRSA SA (shared offices). |
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COMMENTS OF OPERATIONS.- |
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The subject imports from Germany, England, Austria, Switzerland, China, USA and Japan. |
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BANKERS / REFERENCE |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO G & T CONTINENTAL SA |
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GUATEMALA |
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BANCO
INDUSTRIAL SA |
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GUATEMALA |
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BANCO AGROMERCANTIL SA |
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GUATEMALA |
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BANK COMENTS |
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The above banks reported they do not provide information regarding their clients as per bank secrecy. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
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|
1 |
Rs.99.90 |
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Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.